Hydreight Technologies reported second-quarter 2026 revenue of $28 million, up about 12% quarter over quarter and 421% year over year, while missing expectations and prompting doubts about its full-year 2026 revenue target of approximately $150 million. Gross margin declined to 19.4%, reflecting a heavier mix of lower-margin pharmacy sales and pricing concessions on new compounding-pharmacy partnerships. Victory Square Technologies, which highlighted the subsidiary’s results, said net income reached $2.5 million and Adjusted EBITDA $3.2 million, with growth tied mainly to U.S. healthcare infrastructure including the VSDHOne platform, pharmacy product sales and virtual care. Hydreight had reaffirmed roughly $150 million in fiscal 2026 revenue guidance based on management planning assumptions, even as the latest print left that outlook under closer scrutiny.