08:43 AM EDT, 05/08/2024 (MT Newswires) -- WELL Health Technologies Corp. ( WHTCF ) , a digital healthcare company, on Wednesday reported first-quarter adjusted earnings of $20.2 million, or $0.08 per share, up from $14.1 million, or $0.06 per share, a year earlier.

Eight out of nine analysts polled by Capital IQ expected $0.05.

Revenue for the quarter ended March 31 was $231.6 million, up 37% from $169.4 million a year earlier. Analysts surveyed by Capital iQ expected $227.3 million.

Adjusted EBITDA for Q1 was $28.3 million, up 6% from $26.7 million a year earlier.

For 2024, the company is expecting annual revenue of $960 million to $980 million; and annual adjusted EBITDA to be in the upper end of the guidance range of $125 million to $130 million.

Analysts polled by Capital IQ are expecting 2024 revenue of $957.3 million.

The company expects to improve the free cash flow available to shareholders to more than $55 million in 2024 from $42.4 million in 2023. It also expects reduced share issuances, and decreased earn-out commitments.