The company exhibits severe margin erosion, with gross margins deteriorating to negative 12.0% in 2026Q1 as SG&A expenses continue to dwarf gross profit.
| Sales/Revenue | 14.03M | 23.34M | 18.13M | 0 |
| Revenue Growth % | -33.34% | 28.73% | - | - |
| Cost of Goods Sold | 23.75M | 32.98M | 16.36M | 0 |
| COGS % of Revenue | - | 141.3% | 90.25% | - |
| Gross Profit | -9.71M | -9.64M | 1.77M | 0 |
| Gross Margin % | -69.22% | -41.3% | 9.75% | - |
| Gross Profit Growth % | - | -645.32% | - | - |
| Operating Expenses | 46.15M | 71.56M | 7.91M | 2.88M |
| OpEx % of Revenue | - | 306.61% | 43.65% | - |
| Selling, General & Admin | 46.15M | 71.56M | 6.8M | 2.88M |
| SG&A % of Revenue | - | 306.61% | 37.5% | - |
| Research & Development | 0 | 0 | 0 | 375 |
| R&D % of Revenue | - | - | - | - |
| Other Operating Expenses | 605.59K | 0 | 1.11M | -375 |
| Operating Income | -55.86M | -81.19M | -6.15M | -2.88M |
| Operating Margin % | -398.05% | -347.91% | -33.9% | - |
| Operating Income Growth % | - | -1221.29% | -113.33% | - |
| EBITDA | -53.1M | -77.98M | -5.03M | -2.88M |
| EBITDA Margin % | -378.35% | -334.15% | -27.75% | - |
| EBITDA Growth % | -68.47% | -1450.23% | -74.63% | - |
| D&A (Non-Cash Add-back) | 2.77M | 3.21M | 1.11M | 0 |
| EBIT | -57.22M | -81.19M | -6.02M | -2.88M |
| Net Interest Income | -1.41M | -4.58M | -831.47K | -15.08K |
| Interest Income | 0 | 0 | 0 | 0 |
| Interest Expense | 1.41M | 4.58M | 831.47K | 15.08K |
| Other Income/Expense | -20.72M | -20.08M | -711.09K | -15.08K |
| Pretax Income | -76.59M | -101.27M | -6.86M | -2.9M |
| Pretax Margin % | -545.72% | -433.95% | -37.82% | - |
| Income Tax | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% |
| Net Income | -76.59M | -101.27M | -6.86M | -2.9M |
| Net Margin % | -545.72% | -433.95% | -37.82% | - |
| Net Income Growth % | -104.16% | -1377.12% | -136.77% | - |
| Net Income (Continuing) | -76.59M | -101.27M | -6.86M | -2.9M |
| Discontinued Operations | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -53.94 | -71.50 | -6.50 | -3.00 |
| EPS Growth % | -21.27% | -1000% | -116.67% | - |
| EPS (Basic) | - | -71.50 | -6.50 | -3.00 |
| Diluted Shares Outstanding | 1.42M | 1.42M | 1.04M | 894.4K |
| Basic Shares Outstanding | 1.42M | 1.42M | 1.04M | 894.4K |
| Dividend Payout Ratio | - | - | - | - |
Imminent liquidity and solvency risk
As reported in recent financial filings, Wellgistics Health exhibits highly erratic revenue patterns, with quarterly figures swinging from $34.4 million in 2023Q4 to a negative $16.0 million in 2024Q4, suggesting that the company's top-line expansion is currently unstable and potentially driven by accounting adjustments rather than organic demand.
The extreme volatility in reported revenue suggests that the company's business model is struggling to achieve a predictable cadence of customer acquisition or retention. Investors should monitor whether these fluctuations stem from fundamental shifts in the pharmacy distribution market or internal challenges regarding revenue recognition policies.
Based on the provided income statement data, the company's gross margin profile has deteriorated significantly, reaching a negative 12.0% in 2026Q1, which indicates that the cost of goods sold consistently exceeds the revenue generated from its core pharmaceutical distribution and logistics service offerings.
This negative margin profile implies that the company is effectively subsidizing its customers, potentially to gain market share within the independent pharmacy segment. Such a strategy appears unsustainable without a fundamental pivot toward higher-margin service fees or a drastic reduction in the cost of inventory acquisition.
According to the company's historical income statements, SG&A expenses have frequently dwarfed gross profit, with 2025Q3 showing $31.0 million in SG&A against a mere $231,000 in gross profit, highlighting a severe lack of operational discipline and an inability to leverage fixed costs against current revenue levels.
The disproportionate allocation of capital toward SG&A suggests that the company is heavily investing in platform development or administrative overhead that has yet to yield a return. This cost structure warrants further investigation into whether these expenses are essential for growth or indicative of inefficient corporate spending.
As evidenced by the financial data, the company has utilized significant stock-based compensation, including $27.8 million in 2025Q1, which serves to dilute existing shareholders while the underlying business continues to report deep net losses and fails to generate positive cash flow from its core operations.
The reliance on equity-based incentives during periods of extreme operational distress suggests that management may be attempting to preserve cash at the expense of long-term shareholder value. Investors should be wary of the impact this dilution has on future earnings per share, especially given the company's current inability to achieve profitability.
Based on the reported figures, the company's cash position of only $42,571 against a multi-million dollar revenue base suggests a critical liquidity mismatch, indicating that the firm may be unable to meet its short-term obligations without immediate and potentially dilutive external financing or capital market intervention.
The lack of a meaningful cash buffer leaves the company highly vulnerable to any disruption in its supply chain or a tightening of credit terms from its pharmaceutical suppliers. This precarious financial position suggests that the company's survival is currently dependent on external capital rather than operational success.
Quick answers to the most common questions about buying WGRX stock.
For fiscal year 2025, Wellgistics Health, Inc. (WGRX) reported total revenue of $23.3M.
Wellgistics Health, Inc. (WGRX) reported a net loss of $101.3M for the fiscal year ending 2025.
Wellgistics Health, Inc. (WGRX) reported an operating income of $-81.2M, resulting in an operating profit margin of -347.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Wellgistics Health, Inc. (WGRX) generated $-9.6M in gross profit for the year, representing a gross profit margin of -41.3%. This demonstrates the company's core pricing power and production efficiency.