The company's operational viability is challenged by a negative 7.2% gross margin and a 53.3% operating margin deficit reported in 2025Q4.
| Sales/Revenue | 5.77M | 13.97M | 7.87M | 6.99M | 1.92M |
| Revenue Growth % | -58.68% | 77.38% | 12.68% | 264.35% | - |
| Cost of Goods Sold | 6.43M | 11.43M | 6.79M | 5.05M | 2.12M |
| COGS % of Revenue | 111.45% | 81.83% | 86.21% | 72.31% | 110.45% |
| Gross Profit | -660.98K | 2.54M | 1.09M | 1.94M | -200.45K |
| Gross Margin % | -11.45% | 18.17% | 13.9% | 27.69% | -10.45% |
| Gross Profit Growth % | -126.04% | 131.82% | -43.41% | 1065.4% | - |
| Operating Expenses | 2.01M | 18.09M | 1.39M | 1.65M | 274.41K |
| OpEx % of Revenue | 34.91% | 129.53% | 17.67% | 23.67% | 14.31% |
| Selling, General & Admin | 2.01M | 18.09M | 1.39M | 452.58K | 274.41K |
| SG&A % of Revenue | 34.91% | 129.53% | 17.67% | 6.48% | 14.31% |
| Research & Development | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 1.2M | 0 |
| Operating Income | -2.68M | -15.55M | -2.41M | 142.41K | -474.86K |
| Operating Margin % | -46.36% | -111.36% | -30.6% | 2.04% | -24.76% |
| Operating Income Growth % | 82.8% | -545.46% | -1792.15% | 129.99% | - |
| EBITDA | -2.55M | -15.41M | -2.34M | 229.51K | -443.85K |
| EBITDA Margin % | -44.11% | -110.29% | -29.72% | 3.28% | -23.14% |
| EBITDA Growth % | 83.47% | -558.26% | -1119.73% | 151.71% | - |
| D&A (Non-Cash Add-back) | 129.84K | 149.08K | 69.48K | 87.09K | 31.01K |
| EBIT | -2.55M | -15.7M | -3.26M | 142.41K | -460.2K |
| Net Interest Income | 0 | 0 | 0 | 0 | -14 |
| Interest Income | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 14 |
| Other Income/Expense | 121.75K | -67.32K | 55.21K | 62.45K | 14.65K |
| Pretax Income | -2.55M | -15.62M | -2.35M | 258.47K | -460.2K |
| Pretax Margin % | -44.25% | -111.84% | -29.9% | 3.7% | -23.99% |
| Income Tax | 0 | -19.19K | 0 | 165.78K | -50 |
| Effective Tax Rate % | 0% | 0.12% | 0% | 64.14% | 0.01% |
| Net Income | -2.55M | -15.6M | -2.35M | 92.7K | -460.15K |
| Net Margin % | -44.25% | -111.7% | -29.9% | 1.33% | -23.99% |
| Net Income Growth % | 83.63% | -562.64% | -2640.14% | 120.14% | - |
| Net Income (Continuing) | -2.55M | -15.6M | -2.35M | 92.7K | -460.15K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -86.50 | -134.66 | -22.68 | 0.65 | -4.37 |
| EPS Growth % | 35.76% | -493.74% | -3589.23% | 114.87% | - |
| EPS (Basic) | -86.50 | -134.66 | -22.68 | 0.65 | -4.37 |
| Diluted Shares Outstanding | 29.53K | 115.87K | 141.67K | 141.67K | 141.67K |
| Basic Shares Outstanding | 29.53K | 115.87K | 141.67K | 141.67K | 141.67K |
| Dividend Payout Ratio | - | - | - | - | - |
Liquidity and solvency crisis
According to the company's most recent financial filings, MNDR experienced a severe 53.2% year-over-year revenue decline in 2025Q4, reflecting a broader trend of top-line erosion that suggests the business model is struggling to maintain relevance in a post-pandemic environment without the support of non-recurring service contracts.
The consistent downward trajectory in revenue indicates that the platform's transactional volume is highly sensitive to external demand shifts. This suggests that the company has failed to successfully transition its user base into a recurring, high-retention model, leaving the top line exposed to significant volatility.
As reported in the latest income statement, MNDR's gross margin fell to -7.2% in 2025Q4, highlighting a fundamental inability to cover the direct costs of medical service delivery and pharmaceutical procurement, which currently exceed the revenue generated by the platform's core operations.
This structural deficit suggests that the company lacks the necessary scale to negotiate favorable wholesale rates or that its pricing strategy is fundamentally misaligned with its cost structure. Investors should monitor whether this negative margin profile is a permanent feature of their current service delivery model.
Based on the provided financial data, MNDR's operating margin reached -53.3% in 2025Q4, demonstrating that the company's overhead and SG&A expenses continue to scale disproportionately to its shrinking revenue base, leaving no room for operational efficiency gains in the current fiscal environment.
The inability to achieve positive operating leverage suggests that the company's cost base is too rigid for its current revenue scale. This indicates that management may face significant challenges in reaching profitability without a drastic reduction in fixed operating expenses or a major pivot in business strategy.
Financial statements indicate that with only $811,920 in cash reserves and persistent operating losses, MNDR faces a precarious liquidity position that may necessitate dilutive financing or asset liquidation to sustain operations, as the current business model appears unable to generate positive cash flow from its core activities.
Short-sellers would likely focus on the disconnect between the company's purported '360-degree ecosystem' and the reality of its negative gross margins. The lack of a clear path to break-even suggests that the platform may be struggling to defend its market share against better-capitalized regional competitors.
Quick answers to the most common questions about buying MNDR stock.
For fiscal year 2025, Mobile-health Network Solutions Class A Ordinary Shares (MNDR) reported total revenue of $5.8M. This represents a 200.9% increase compared to $1.9M in 2021.
Mobile-health Network Solutions Class A Ordinary Shares (MNDR) reported a net loss of $2.6M for the fiscal year ending 2025.
Mobile-health Network Solutions Class A Ordinary Shares (MNDR) reported an operating income of $-2.7M, resulting in an operating profit margin of -46.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Mobile-health Network Solutions Class A Ordinary Shares (MNDR) generated $-0.7M in gross profit for the year, representing a gross profit margin of -11.5%. This demonstrates the company's core pricing power and production efficiency.