| VitalHub Corp. (the "Company" or "VitalHub") (TSX: VHI) announced today it has filed its Consolidated Financial Statements and Management's Discussion and Analysis report for the year ended December 31, 2021, with the Canadian securities authorities. These documents may be viewed under the Company's profile at www.sedar.com. When asked to comment on the results, VitalHub CEO Dan Matlow said, "Throughout Q4 and the entire 2021 fiscal year, the Company has continued to execute on its well-defined strategy, which combines synergistic M&A with organic growth, to scale the Company on an international basis. As a result, quarter over quarter, we have seen positive changes across all key financial metrics used to measure our business. We are excited by the market traction and penetration we have achieved to-date and look forward to continuing our focused execution plan in 2022 in all areas of our business." The Company will be holding a conference call via Zoom on March 30, 2022, at 9:00am EST hosted by CEO Dan Matlow and CFO Brian Goffenberg with a Q&A session to follow. To register for the conference call please visit: Vitalhub Q4 2021 Conference Call or https://bit.ly/Vitalhub-Q4-2021. Fourth Quarter 2021 Highlights Annual 2021 Highlights Q4 2021 and 2020 Results Three months ended Year ended December 31, % December 31, % Change December 31, % December 31, % Change 2021 Revenue 2020 Revenue 2021 Revenue 2020 Revenue $ $ % $ $ % Revenue 6,930,290 100 % 5,083,132 100 % 36 % 24,664,593 100 % 13,794,192 100 % 79 % Cost of sales 1,463,440 21 % 1,238,526 24 % 18 % 5,237,210 21 % 3,503,366 25 % 49 % Gross Profit 5,466,850 79 % 3,844,606 76 % 42 % 19,427,383 79 % 10,290,826 75 % 89 % Operating Expenses General and administrative 1,441,164 21 % 1,089,178 21 % 32 % 5,079,379 21 % 3,108,682 23 % 63 % Sales and marketing 967,630 14 % 760,703 15 % 27 % 3,614,173 15 % 1,657,427 12 % 118 % Research and development 1,717,580 25 % 1,226,969 24 % 40 % 6,045,799 25 % 3,219,217 23 % 88 % Depreciation 45,110 1 % 25,984 1 % 74 % 162,424 1 % 108,946 1 % 49 % Depreciation of right-of-use assets 70,713 1 % 57,212 1 % 24 % 272,482 1 % 219,553 2 % 24 % Stock based compensation 628,789 9 % 297,313 6 % 111 % 1,717,094 7 % 486,806 4 % 253 % Foreign currency loss (gain) (10,383 ) (0 %) 56,655 1 % (118 %) 137,927 1 % 55,261 0 % 150 % Other Income and Expenses Amortization of intangible assets 622,750 9 % 433,834 9 % 44 % 2,241,251 9 % 1,861,438 13 % 20 % Business acquisition, restructuring and integration costs 252,597 4 % 542,310 11 % (53 %) 1,715,942 7 % 1,618,114 12 % 6 % Interest expense and accretion (net of interest income) (3,966 ) (0 %) 6,769 0 % (159 %) (29,548 ) (0 %) 15,979 0 % (285 %) Interest income from sublease 0 0 % (233 ) (0 %) (100 %) 0 0 % (1,936 ) (0 %) (100 %) Loss on disposal of property and equipment (561 ) (0 %) (2,806 ) (0 %) 0 % 1,593 0 % (2,806 ) (0 %) 100 % Current and deferred income taxes 323,006 5 % 47,757 1 % 576 % 333,076 1 % 32,898 0 % 912 % Net loss (605,772 ) (9 %) (715,217 ) (14 %) (15 %) (1,946,641 ) (8 %) (2,165,721 ) (16 %) (10 %) EBITDA 470,036 7 % (125,716 ) (2 %) 474 % 1,115,476 5 % 148,125 1 % 653 % Adjusted EBITDA 1,351,422 20 % 713,907 14 % 89 % 4,548,512 18 % 2,253,045 16 % 102 % Annualized Recurring Revenue 22,106,663 14,844,039 49 % 22,106,663 14,844,039 49 % Recurring revenue 5,290,210 76 % 3,875,409 76 % 37 % 19,250,266 78 % 10,000,703 72 % 92 % Deferred revenue 8,821,331 6,214,736 8,821,331 6,214,736 Cash balance 16,389,982 23,391,946 16,389,982 23,391,946 ABOUT VITALHUB: Software for Health and Human Services providers designed to simplify the user experience & optimize outcomes. VitalHub provides technology to Health and Human Services providers including; Hospitals, Regional Health Authorities, Mental Health, Long Term Care, Home Health, Community and Social Services. VitalHub solutions span the categories of Electronic Health Record (EHR), Case Management, Care Coordination, Patient Flow & Operational Visibility, and DOCit Mobile Apps. The Company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive M&A plan. Currently, VitalHub serves 275+ clients across Canada, USA, UK, Australia, Qatar, and Latvia. VitalHub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The Company is publicly traded on the TSX Venture Exchange under the symbol "VHI". CAUTIONARY STATEMENT: This press release includes forward-looking statements regarding the Corporation and its business, which may include, but is not limited to, statements with respect to the appointment of a new directors. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the technology industry, failure to obtain regulatory or shareholder approvals, market conditions, economic factors, the equity markets generally and risks associated with growth and competition. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Corporation undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result o f new information, future events, or otherwise. CONTACT INFORMATION Dan Matlow Chief Executive Officer, Director (416) 727-9061 dan.matlow@Vitalhub.com <img src="https://ml.globenewswire.com/media/OWRkM2ZkZTItNmUwMi00YjQ4LTg0YmEtYzNjNGYxOGMzZDM0LTExMDgwODg=/tiny/Vitalhub-Corp-.png" referrerpolicy="no-referrer-when-downgrade" /><p>https://ml.globenewswire.com/media/fae8da93-7d5e-4eb4-9121-d724c8555bce/small/greylogo-png.png https://ml.globenewswire.com/media/fae8da93-7d5e-4eb4-9121-d724c8555bce/small/greylogo-png.png |