07:19 AM EDT, 03/28/2025 (MT Newswires) -- Vitalhub ( VHIBF ) , which saw its shares jump 5.5% yesterday, overnight Thursday reported its net income decreased in the fourth quarter, despite a more than 50% jump in revenues, as it beds in the four acquisitions made in 2024.

The company reported net income of $787,244 in the fourth quarter, compared with $938,789, a year earlier.

Revenue for the three months ended Dec. 31, increased to near $20.6 million compared with $13.6 million, a year-ago.

Among highlights for the full year the company cited annual 15% organic ARR growth and 26% adjusted EBITDA margins.

CEO Dan Matlow said. "Our record-breaking sequential net new organic ARR in the fourth quarter of $2.6 million was well-balanced across our leading EHR suite in Canada and patient flow solutions in the UK. We see opportunities for sustained growth rates in our core geographies as we cross-sell complementary solutions and add new clients."

Matlow added: "We closed four acquisitions in 2024, adding $17.9 million of acquisition ARR.... Integration efforts from a product, infrastructure, and go-to-market perspective are well underway, including the fourth quarter 2024 acquisitions of Strata and MedCurrent. We see areas for potential enhanced revenue growth and operational efficiency, with our goal of steadily expanding our cash flow margin over the next 12 to 18 months post-acquisition, as we have successfully accomplished historically.

"Our current pro forma cash balance is approximately $90 million, with strong positive cash generation and access to debt if needed. We are prepared to deploy capital on M&A, and we currently expect the pace of activity from 2024 to continue through 2025."

Shares closed up 5.5% to $9.66 on Thursday on the Toronto Stock Exchange.