10-K · April 24, 2026
This Amendment No. 1 to the Company’s Form 10-K restates Items 10 and 12 (governance and security ownership) and adds exhibits including the Clawback/Compensation Recovery Policy. The filing documents board changes and…
Earnings analysis · 10-Q
WGRX earnings analysis
Filed May 19, 2026 · Our reading of the company's report
The latest report
Wellgistics Health, Inc. reported Q1 FY2026 revenues of $1,559,563, representing a significant decline of 85.6% compared to $10,863,443 in Q1 FY2025, primarily due to liquidity constraints affecting distribution…
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Wellgistics Health, Inc. reported Q1 FY2026 revenues of $1,559,563, representing a significant decline of 85.6% compared to $10,863,443 in Q1 FY2025, primarily due to liquidity constraints affecting distribution revenues. The company reported a net loss of $7,742,597, which is an improvement from a loss of $32,430,903 in the same quarter last year, largely due to reduced stock-based compensation expenses.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Gross margin
- 10.9%
What stood out
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Significant Revenue Decline
Revenues fell to $1,559,563 in Q1 FY2026, down 85.6% from $10,863,443 in Q1 FY2025.
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Improved Net Loss
Q1 FY2026 net loss of $7,742,597 improved by 76.1% from a loss of $32,430,903 in Q1 FY2025.
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Growth in Pharmacy Retail Revenues
Pharmacy retail revenues rose to $1,134,416 in Q1 FY2026, up from $114,676 in Q1 FY2025.
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Cost of Revenues Decrease
Cost of revenues decreased to $1,389,342 in Q1 FY2026, down 86.3% from $10,170,802 in Q1 FY2025.
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Reduction in G&A Expenses
General and administrative expenses were $4,868,935, down 84.4% from $31,172,920 in Q1 FY2025 due to decreased stock compensation.
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Higher Margin Contribution from Pharmacy
Gross margin improved to 10.9% in Q1 FY2026 compared to 6.4% in Q1 FY2025 due to higher pharmacy revenue.
What to watch
-
Severe Liquidity Constraints
Working capital deficit of $29,437,191 as of March 31, 2026 raises substantial doubt about the company's ability to continue as a going concern.
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Reliance on Debt Financing
Continued operations are heavily reliant on additional debt and equity financing with no assurance of terms.
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Operational Risks from Distribution Decline
A significant decline in distribution revenues due to liquidity constraints has hindered fulfillment capabilities, impacting overall business performance.
Management's outlook
No explicit numeric guidance provided in the MD&A.
Earlier filings 4
10-K · March 20, 2026
Wellgistics Health positions itself as a “micro health ecosystem” combining a specialty-lite pharmacy, a 50-state wholesale distributor, and the DelivMeds hub technology to drive pharmacy, manufacturer and patient…
10-Q · November 19, 2025
Wellgistics Health reported Q3 2025 net revenue of $3,012,904 and GAAP net loss of $34,318,204 (EPS $(0.46)). Revenue and gross profit declined versus prior-year quarter, while operating expenses surged—driven largely…
10-Q · August 19, 2025
Wellgistics Health reported quarterly revenue of $7,790,865 (Q2 2025) vs $44,540 in the year-ago quarter, with gross profit of $505,752 (gross margin ~6.5%). Operating loss narrowed to $(5,500,376) (operating margin…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.