01:25 PM EST, 11/10/2025 (MT Newswires) -- Vitalhub ( VHIBF ) reported solid third-quarter results, beating Stifel Canada estimates. The quarter also represented essentially the first full quarter of contribution of Novari Health.

"Our due diligence, including calling Novari's customers, revealed a solid asset and mission critical software with wide organic growth opportunity and antiquated competitive systems to displace within the mental health vertical," writes analyst Justin Keywood.

VitalHub ( VHIBF ) has substantial dry powder for additional M&A with $124 million cash, no debt and access to a $65 million credit facility. "We see constructive quarters ahead to re-rate shares with M&A serving as catalysts."

Maintain Buy rating, $15 price target.

Price: 9.76, Change: -0.46, Percent Change: -4.50