WELL Health Reports Record Q3-2026 Revenue; Canadian Patient Services Adjusted EBITDA Up 82%, Reaching $100 Million Annualized Run-Rate Milestone One Quarter Ahead of Plan

Hamed Shahbazi, Chairman and CEO of WELL

“WELL delivered a record quarter, with revenue of $407.4 million, up 17% year-over-year excluding the impact of deferred revenues, positively impacted by Canadian Patient Services, which was up 49% on record patient visits. Our Canadian clinic network, comprising 302 clinics across Canada, handled 1.3 million patient visits in the quarter, up 20% compared to Q3-2025, on a billable provider base that grew 17% year-over-year, and visits per provider are up meaningfully from two years ago as AI and digital workflows take administrative work off our clinicians. The result is that Canadian Patient Services Adjusted EBITDA((1)) grew 82% to $25.7 million, taking the business past a $100 million annualized run-rate target one quarter ahead of plan.”

Hamed Shahbazi, Chairman and CEO of WELL

“We recently achieved another key milestone for the Company with the spin-out and public listing of WELLSTAR on the TSX Venture Exchange. The creation of WELLSTAR reflects WELL's strategy to separate its healthcare technology operations from its clinic operations, establishing a dedicated healthcare technology company with its own management team, capital structure and growth strategy while continuing to benefit from WELL's strategic support, healthcare ecosystem and established industry relationships. Along with WELLSTAR and HEALWELL AI, WELL has created one cohesive platform, referred to as OneWELL, to address Canada's healthcare needs. WELL's clinic network delivers connected care, WELLSTAR's technology runs the clinics and HEALWELL's clinical AI and data science make it smarter.”

Evelyn Sutherland, Chief Financial Officer of WELL

“We are pleased with our strong performance in the third quarter, supported by the disciplined execution of our financial strategy. During the quarter, we further strengthened our balance sheet with the closing of our inaugural $150 million senior unsecured notes offering, which we used to redeem our convertible debentures ahead of their December 2026 maturity and to extend our debt maturity profile to 2031. With a simpler balance sheet and disciplined capital allocation, we believe WELL is well-positioned to continue pursuing accretive growth opportunities while creating long-term value for shareholders.”