The company's financial position is severely constrained, evidenced by a current ratio of 0.27 and a negative equity balance of $4.1 million in 2026Q1.
| Total Current Assets | 1.46M | 2.1M | 3.62M | 364.19K | 391K | 833.29K | 293.62K |
| Cash & Short-Term Investments | 233K | 1.09M | 3.02M | 47.01K | 271K | 699.32K | 79.18K |
| Cash Only | 233K | 585K | 172K | 47.01K | 271K | 699.32K | 79.18K |
| Short-Term Investments | 0 | 506K | 2.85M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 697K | 495K | 213K | 151.64K | 19K | 91.74K | 195.37K |
| Days Sales Outstanding | 140.3 | 132.95 | 120.91 | 54.21 | 6.01 | 30.67 | 86.54 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 530K | 509K | 385K | 165.54K | 101K | 42.23K | 19.07K |
| Total Non-Current Assets | 47K | 56K | 108K | 98.87K | 898K | 49.77K | 34.3K |
| Property, Plant & Equipment | 47K | 56K | 108K | 98.87K | 83K | 49.77K | 34.3K |
| Fixed Asset Turnover | 22.64x | 24.27x | 5.95x | 10.33x | 13.89x | 21.94x | 24.03x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 815K | 0 | 0 |
| Total Assets | 1.51M | 2.15M | 3.73M | 463.06K | 1.29M | 883.06K | 327.91K |
| Asset Turnover | 0.70x | 0.63x | 0.17x | 2.20x | 0.89x | 1.24x | 2.51x |
| Asset Growth % | 3.54% | -42.29% | 704.87% | -64.08% | 45.97% | 169.3% | - |
| Total Current Liabilities | 5.36M | 4.83M | 19.23M | 12.83M | 26.1M | 4.75M | 1.55M |
| Accounts Payable | 0 | 0 | 6.37M | 4.18M | 1.18M | 0 | 0 |
| Days Payables Outstanding | - | - | 2.52K | 1.33K | 283.94 | - | - |
| Short-Term Debt | 0 | 350K | 8.76M | 4.64M | 24.74M | 3.35M | 1.05M |
| Deferred Revenue (Current) | 2.35M | 389K | 561K | 254K | 184K | 642.35K | 106.37K |
| Other Current Liabilities | 4.68M | 3.79M | 283K | 0 | 0 | 758.82K | 391.12K |
| Current Ratio | 0.27x | 0.43x | 0.19x | 0.03x | 0.01x | 0.18x | 0.19x |
| Quick Ratio | 0.27x | 0.43x | 0.19x | 0.03x | 0.01x | 0.18x | 0.19x |
| Cash Conversion Cycle | 140.3 | - | - | - | - | - | - |
| Total Non-Current Liabilities | 231K | 291K | 449K | 489.61K | 1.54M | 1.83M | 1.64M |
| Long-Term Debt | 0 | 220K | 0 | 465.02K | 1.5M | 1.55M | 1.55M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 231K | 71K | 449K | 24.58K | 44K | 287.61K | 93.19K |
| Total Liabilities | 5.59M | 5.12M | 19.68M | 13.32M | 27.65M | 6.59M | 3.19M |
| Total Debt | 0 | 570K | 8.76M | 5.1M | 26.24M | 4.9M | 2.6M |
| Net Debt | -233K | -15K | 8.59M | 5.05M | 25.97M | 4.2M | 2.52M |
| Debt / Equity | -0.00x | - | - | - | - | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.02x | - | - | - | - | - | - |
| Interest Coverage | -74.22x | -40.79x | -67.89x | -3068.27x | -75.46x | -14.05x | - |
| Total Equity | -4.08M | -2.96M | -15.95M | -12.86M | -26.36M | -5.7M | -2.86M |
| Equity Growth % | 309.14% | 81.41% | -24.03% | 51.21% | -362.23% | -99.42% | - |
| Book Value per Share | -0.07 | -0.07 | -0.57 | -1.82 | -2.17 | -0.38 | -0.19 |
| Total Shareholders' Equity | -4.08M | -2.96M | -15.95M | -12.86M | -26.36M | -5.7M | -2.86M |
| Common Stock | 5K | 2K | 2K | 2.36K | 0 | 434 | 383 |
| Retained Earnings | -106.82M | -104.37M | -101.57M | -55.08M | -57.66M | -25.31M | -22.37M |
| Treasury Stock | 0 | -529K | -529K | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and solvency risk
As reported in recent financial statements, ONMD's equity position has remained consistently negative, with the deficit reaching $4.1 million in 2026Q1, reflecting a multi-quarter trend of capital depletion that underscores the company's ongoing struggle to achieve a sustainable, value-accretive business trajectory.
The persistent negative equity suggests that the company has been unable to retain earnings or generate sufficient capital to offset its operational losses. This trajectory indicates that the business model is currently consuming its own capital base, which may necessitate further dilutive financing to maintain operations.
Based on the provided balance sheet data, the company has successfully reduced its total debt from a peak of $9.7 million in 2024Q2 to zero as of 2026Q1, though this deleveraging appears to be a necessity-driven response to severe liquidity constraints rather than a strategic capital structure optimization.
While the absence of debt in the most recent quarter may appear positive, it likely reflects the company's inability to access credit markets or the exhaustion of previous debt facilities. Investors should monitor whether the firm can secure non-dilutive capital, as the current lack of leverage leaves little room for error in funding ongoing operations.
According to quarterly filings, the company's liquidity position remains precarious, with a cash balance of only $233,000 in 2026Q1 and a current ratio of 0.27, indicating that current assets are significantly insufficient to cover the firm's immediate short-term obligations.
The extremely low current ratio suggests that the company is operating with a severe working capital deficit, which may impair its ability to meet operational commitments. This liquidity profile warrants extreme caution, as it implies that the company is highly dependent on the timing of cash inflows to avoid a potential solvency crisis.
As indicated by the balance sheet, the company's asset base is remarkably thin, with total assets of only $1.5 million in 2026Q1, of which a negligible portion is represented by net PPE, suggesting that the firm lacks the tangible collateral necessary to support traditional financing.
The lack of significant tangible assets or goodwill suggests that the company's value is almost entirely tied to its intangible network and data curation capabilities, which are difficult to monetize in a distressed scenario. This asset-light structure, while potentially scalable, provides no buffer against operational shocks or the need for emergency capital.
Quick answers to the most common questions about buying ONMD stock.
As of 2025, OneMedNet Corporation (ONMD) had total assets of $2.2M including $2.1M in current assets.
OneMedNet Corporation (ONMD) carries total debt of $0.6M, offset by $1.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
OneMedNet Corporation (ONMD) has total shareholders' equity (book value) of $-3.0M ($-0.07 book value per share). Book value represents the net worth of the company belonging to common stock holders.
OneMedNet Corporation (ONMD) reported a current ratio of 0.43x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.