The balance sheet reflects a precarious capital structure, evidenced by a 2026Q1 current ratio of 0.09 and an accumulated retained earnings deficit of $118.8 million.
| Total Current Assets | 2.76M | 2.82M | 15.17M | 338.36K |
| Cash & Short-Term Investments | 51.73K | 42.57K | 1.03M | 1.36K |
| Cash Only | 51.73K | 42.57K | 1.03M | 1.36K |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Accounts Receivable | 992.15K | 1.14M | 3.75M | 337K |
| Days Sales Outstanding | 46.96 | 17.79 | 75.42 | - |
| Inventory | 1.71M | 1.64M | 9.52M | 0 |
| Days Inventory Outstanding | 76.37 | 18.15 | 212.35 | - |
| Other Current Assets | 4.2K | 0 | 875.39K | 0 |
| Total Non-Current Assets | 27.37M | 27.64M | 42.16M | 0 |
| Property, Plant & Equipment | 1.05M | 1.2M | 1.92M | 0 |
| Fixed Asset Turnover | 10.96x | 19.51x | 9.46x | - |
| Goodwill | 14.19M | 14.19M | 16.22M | 0 |
| Intangible Assets | 9.99M | 10.31M | 22.36M | 0 |
| Long-Term Investments | 279.54K | 0 | 17.67K | 0 |
| Other Non-Current Assets | 2.14M | 1.94M | 1.65M | 0 |
| Total Assets | 30.13M | 30.46M | 57.33M | 338.36K |
| Asset Turnover | 0.33x | 0.77x | 0.32x | - |
| Asset Growth % | -78.58% | -46.87% | 16844.08% | - |
| Total Current Liabilities | 32.2M | 29.78M | 38.05M | 2.89M |
| Accounts Payable | 12M | 11.69M | 6.33M | 1.04M |
| Days Payables Outstanding | 167.55 | 129.4 | 141.31 | - |
| Short-Term Debt | 15.35M | 11.07M | 12.04M | 350K |
| Deferred Revenue (Current) | 815.99K | 488.23K | 245.76K | 0 |
| Other Current Liabilities | 2.71M | 4.59M | 3.11M | 950K |
| Current Ratio | 0.09x | 0.09x | 0.40x | 0.12x |
| Quick Ratio | 0.03x | 0.04x | 0.15x | 0.12x |
| Cash Conversion Cycle | -44.22 | -93.47 | 146.46 | - |
| Total Non-Current Liabilities | 12.99M | 13.13M | 12.55M | 350K |
| Long-Term Debt | 12.99M | 13.13M | 11.46M | 350K |
| Capital Lease Obligations | 816.22K | 0 | 1.1M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 |
| Total Liabilities | 45.19M | 42.91M | 50.6M | 3.24M |
| Total Debt | 28.91M | 24.77M | 25.11M | 700K |
| Net Debt | 28.86M | 24.73M | 24.08M | 698.64K |
| Debt / Equity | -1.92x | - | 3.73x | - |
| Debt / EBITDA | -0.54x | - | - | - |
| Net Debt / EBITDA | -0.54x | - | - | - |
| Interest Coverage | -40.51x | -17.73x | -7.25x | -191.01x |
| Total Equity | -15.06M | -12.45M | 6.73M | -2.9M |
| Equity Growth % | -559.66% | -284.84% | 332.19% | - |
| Book Value per Share | -10.61 | -8.77 | 6.48 | -3.24 |
| Total Shareholders' Equity | -15.06M | -12.45M | 6.73M | -2.9M |
| Common Stock | 11.94K | 10.13K | 5.11K | 4.47K |
| Retained Earnings | -118.77M | -111.03M | -9.76M | -2.9M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
Imminent liquidity and solvency
As reported in recent SEC filings, Wellgistics Health's equity position has collapsed into a deficit of $15.1 million by 2026Q1, signaling a severe and persistent erosion of shareholder value that appears to be driven by chronic operational losses and an inability to stabilize the capital structure.
The transition from positive equity in 2025Q3 to a significant deficit suggests that the company is consuming its net assets at an unsustainable rate. This trajectory implies that the business model is failing to generate the internal capital necessary to support its current scale, leaving the balance sheet increasingly reliant on external financing.
Based on the company's latest financial statements, total debt has climbed to $28.9 million as of 2026Q1, creating a precarious leverage profile that appears to be a necessity-driven attempt to fund ongoing operations rather than a strategic deployment of capital for growth.
The accumulation of debt against a backdrop of negative equity and shrinking cash reserves suggests that the company faces significant refinancing risk. Investors should monitor whether the firm can continue to service these obligations, as the current debt load appears disproportionate to the company's limited ability to generate positive cash flow.
According to the 2026Q1 balance sheet, the company holds a mere $51,700 in cash against a current ratio of 0.09, which indicates an extreme liquidity shortfall that leaves the firm with virtually no buffer against operational shocks or unexpected working capital requirements.
A current ratio well below 1.0 suggests that the company is unable to cover its short-term liabilities with its current assets, pointing to a potential going-concern risk. This lack of liquidity implies that the company may be forced to seek dilutive capital or emergency financing to maintain basic operations.
As disclosed in recent filings, goodwill accounts for $14.2 million of the company's $30.1 million in total assets, suggesting that a significant portion of the balance sheet is tied to intangible valuations rather than tangible, revenue-generating infrastructure or liquid assets.
The heavy reliance on goodwill in the asset mix warrants further investigation into potential impairment risks, especially given the company's poor operational performance. The limited investment in net PPE, at only $1.0 million, further suggests that the business lacks the physical asset base typically required to support a large-scale distribution model.
Based on the reported figures, the persistent accumulation of retained earnings losses, which reached $118.8 million by 2026Q1, indicates that the company's historical capital allocation has been fundamentally value-destructive, masking the true extent of the financial distress behind the headline asset figures.
The consistent growth in accumulated deficits suggests that the company's operational strategy has failed to achieve the necessary scale or efficiency to reach profitability. This trend implies that the balance sheet is effectively being hollowed out, leaving little room for error in future quarters.
Quick answers to the most common questions about buying WGRX stock.
As of 2025, Wellgistics Health, Inc. (WGRX) had total assets of $30.5M including $2.8M in current assets.
Wellgistics Health, Inc. (WGRX) carries total debt of $24.8M, offset by $0.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Wellgistics Health, Inc. (WGRX) has total shareholders' equity (book value) of $-12.4M ($-8.77 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Wellgistics Health, Inc. (WGRX) reported a current ratio of 0.09x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.