Healthians Achieves Profitability with Strong Revenue Growth

Following a near-breach of profitability in FY25, Healthians, a diagnostics and wellness testing platform, recorded its first profit in the fiscal year ending March 2026 while actively scaling its operations. Healthians generated a remarkable revenue increase of 35.7% year-on-year, reaching Rs 357 crore in FY26, compared to Rs 263 crore in FY25, as noted in its consolidated financial statements reviewed by Startup Superb.

Revenue Highlights

The Gurugram-based firm provides at-home diagnostic services in over 250 cities and boasts having conducted more than 10 crore tests to date. Diagnostics remained the primary source of income, contributing 99% of total operating revenue, equivalent to Rs 353 crore during the fiscal year. The remaining revenue stemmed from supplementary and ancillary services. Healthians additionally reported Rs 5 crore in interest income, which increased its overall revenue to Rs 362 crore in FY26 from Rs 270 crore in FY25.

Expenditure Overview

On the expense side, employee benefits represented the largest cost for the firm, accounting for 36.8% of total expenditure. This cost rose by 28% year-on-year to Rs 134 crore in FY26. The expenditure on materials was noted at Rs 109 crore, while marketing costs saw a reduction to Rs 44 crore. Other expenditures, including rent, legal fees, information technology, and various overheads, pushed Healthians’ total spending up by 32.4% to Rs 364 crore in FY26 from Rs 275 crore in FY25.

Profitability Insights

As revenue outpaced expenses, Healthians turned a net profit of Rs 5.4 crore in FY26, compared to a loss of Rs 4.77 crore in FY25. Nonetheless, the company continues to face accumulated losses of Rs 976 crore. In terms of unit economics, Healthians spent Rs 1.02 to generate every rupee of operating revenue in FY26, with its EBITDA margin improving to 2.20%, while the return on capital employed (ROCE) stood at -4.86%. By the end of FY26, the company reported current assets valued at Rs 112.5 crore.

Funding and Competitive Landscape

To date, Healthians has raised approximately $75 million in funding, with notable investors including WestBridge, BEENEXT, DG Ventures, and YouWeCan. The Bengaluru-based company competes with peers such as Orange Health, Redcliffe Labs, and Dr Lal PathLabs in the diagnostic industry.

Leadership Transition and Future Outlook

This financial turnaround coincides with a leadership transition at Healthians, as founder Deepak Sahni relinquished all formal executive responsibilities in January 2026 after dedicating a decade to building the company. While nearing operational profitability is a positive step, Healthians has challenges ahead. Future growth is unlikely to be straightforward due to intense competition in the market and margin pressures. The competition has undeniably triggered a heightened focus on diagnostics by both institutions and individuals. However, there is a rising backlash against what many deem unnecessary tests. Expanding this market will require innovative testing solutions that significantly indicate future risks and potential actions. Whether through AI or novel diagnostic methods beyond traditional blood tests, being a technology-driven firm, Healthians must strategize carefully to achieve a meaningful advancement in operational metrics.