WGRX earnings analysis
What we found in WGRX's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Significant Revenue Decline
- Revenues fell to $1,559,563 in Q1 FY2026, down 85.6% from $10,863,443 in Q1 FY2025.
- 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.
- Growth in Pharmacy Retail Revenues
- Pharmacy retail revenues rose to $1,134,416 in Q1 FY2026, up from $114,676 in Q1 FY2025.
- 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.
- 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.
- 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.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- 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.
- Reliance on Debt Financing
- Continued operations are heavily reliant on additional debt and equity financing with no assurance of terms.
- Operational Risks from Distribution Decline
- A significant decline in distribution revenues due to liquidity constraints has hindered fulfillment capabilities, impacting overall business performance.
What they reported.
What the company itself reported, taken out of the document.
- Gross margin
- 10.9%
- Segment
- Pharmacy retail sales: $1,134,416
- Segment
- Product revenue - distribution services: $225,665
- Segment
- Third party logistics services: $199,482
What they said about what is next.
No explicit numeric guidance provided in the MD&A.
The filing reads worse than the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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