OneMedNet Corp

Listed Company

ONMDCIK 0001849380NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthServices-Commercial Physical & Biological ResearchDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.36M

Net Income

$-2.80M

Total Assets

—

Equity

—

Shares Out

54.43M

Op. Cash Flow

$-7.50M

Business

OneMedNet Corp is a global provider of clinical imaging innovation and curator of regulatory‑grade imaging Real World Data (iRWDTM) for life science and healthcare customers. It offers BEAM image exchange, an iRWDTM platform, AI/ML indexing, de‑identification, clinical curation, case selection and eCRF support to produce regulatory‑grade image‑centric datasets. The company’s operations focus on imaging RWD curation and services for pharmaceutical, medical device, imaging AI developers, CROs and provider partners. OneMedNet accesses a federated network of healthcare sites across more than 100 countries to deliver de‑identified data on demand to researchers, regulators and industry users.

Summary from filing dated 2025-04-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	1	643,000	1	1	—
Cost of revenue	2	924,000	1	2	—
Gross margin	−503,000	−281,000	−129,000	−360,690	—
General and administrative	6	7	4	9	—
Sales and marketing	1	830,000	1	957,690	—
Research and development	2	1	2	952,701	—
Total operating expenses	9	9	7	11	—
Loss from operations	−10	−10	−7	−11	−585,405
Interest expense	67,000	147,000	11,000	—	—
Change in fair value of warrants	56,000	−9,000	−129,000	−4	6
Change in fair value of convertible notes	−1	808,000	18	—	—
Change in fair value of crypto assets Bitcoin	945,000	−798,000	—	—	—
Realized gain on sale of crypto assets Bitcoin	−922,000	−120,000	—	—	—
Change in fair value of SEPA derivative liabilities	−216,000	434,000	—	—	—
Gain on troubled debt restructurings	−6	—	—	—	—
Loss on extinguishment of debt	41,000	—	—	—	—
Other expense	16,000	60,000	34,000	—	—
Total other (income) expense, net	−7	522,000	27	−5	−625,059
Loss before income taxes	−3	−10	−34	551,508	5
Income tax expense	1,000	2,000	18,000	214,850	—
Net loss	−3	−10	−34	−6	5
Basic net loss per common share outstanding	−0.06	−0.36	−4.65	—	—
Diluted net loss per common share outstanding	−0.06	−0.36	−4.65	0.03	0.44
Basic weighted average number of common shares outstanding	45	28	7	—	—
Diluted weighted average number of common shares outstanding	45	28	7	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	600,000	172,000	47,000	301,730	453,151
Investment in crypto assets Bitcoin	506,000	3	—	—	—
Accounts receivable, net	495,000	213,000	152,000	18,975	—
Prepaid expenses and other current assets	509,000	385,000	166,000	100,945	—
Total current assets	2	4	365,000	30	536,212
Property and equipment, net	56,000	108,000	99,000	83,097	—
Total assets	2	4	464,000	30	118
Accounts payable and accrued expenses	3	6	5	3	—
Deferred revenues	389,000	561,000	254,000	183,683	—
Loans payable	754,000	4	3	—	—
Loans payable related parties	—	2	—	—	—
Convertible notes at fair value	—	3	—	—	—
Deferred underwriter fee payable	—	3	4	—	—
SEPA put option liability	186,000	—	—	—	—
Total current liabilities	5	19	14	12	289,980
Loans payable, net of current portion	220,000	—	—	3	—
Warrant liabilities	71,000	15,000	24,582	362,558	5
SEPA put option liability, net of current portion	—	434,000	—	—	—
Total liabilities	5	20	14	21	9
Commitments and contingencies (Note 13)	—	—	—	29	—
Preferred Stock, par value $0.0001, 1,000,000 authorized at December 31, 2025 and 2024; no shares issued and outstanding at December 31, 2025 and 2024	—	—	—	—	—
Common Stock, par value $0.0001, 100,000,000 shares authorized, 52,172,219 shares issued and 51,984,474 shares outstanding at December 31, 2025, and 28,175,172 shares issued and 27,987,427 shares outstanding at December 31, 2024	2,000	2,000	2,000	455	—
Additional paid-in-capital	102	86	78	24	—
Treasury stock, at cost, 187,745 shares at December 31, 2025 and 2024	−529,000	−529,000	—	—	—
Accumulated deficit	−104	−102	−91	−44	−9
Total stockholders deficit	−3	−16	−13	−26	14
Total liabilities and stockholders deficit	2	4	464,000	30	118

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	65,000	57,000	28,000	24,807	—
Stock-based compensation expense	2	628,000	1	2	0
Stock warrant expense	—	35,000	9	—	—
Non-cash SEPA commitment fee	—	500,000	—	—	—
Gain on forgiveness of CEBA loan	—	−15,000	—	—	—
Non-cash interest	45,000	121,000	11,000	—	—
Accounts receivable	−282,000	−61,000	−133,000	72,767	—
Prepaid expenses and other current assets	194,000	84,000	−43,000	—	—
Accounts payable and accrued expenses	366,000	1	717,000	2	—
Deferred revenues	−172,000	307,000	70,000	—	—
Net cash used in operating activities	−8	−7	−5	87	−378,487
Purchases of property and equipment	−13,000	−51,000	−44,000	−58,137	—
Purchases of crypto assets Bitcoin	−3	−3	—	—	—
Proceeds from sales of crypto assets Bitcoin	5	969,000	—	—	—
Net cash provided by (used in) investing activities	2	−2	−44,000	−2	−117
Proceeds from private placements, net of issuance costs	2	6	—	—	—
Proceeds from related party subscription agreements, net of issuance costs	2	—	—	—	—
Proceeds from Yorkville SEPA	3	—	—	—	78,925
Proceeds from exercises of Helena Termination Warrants	60,000	—	—	—	—
Repayment of deferred underwriter fees	−500,000	−100,000	—	—	—
Repayment of Yorkville Note	−262,000	—	—	—	−78,925
Repayment of loans payable	−401,000	−231,000	—	—	—
Payment of issuance costs in connection with non-cash conversions of liabilities	−19,000	—	—	—	−446,112
Proceeds from issuance of shareholder loans	—	2	454,000	—	—
Proceeds from issuance of Yorkville Note, net of issuance costs	—	1	—	—	—
Proceeds from line of credit borrowings	—	500,000	—	—	—
Repayment of CEBA loan	—	−30,000	—	—	—
Repayment of shareholder loan	—	−200,000	—	—	—
Repayment of line of credit borrowings	—	−500,000	—	—	—
Net cash provided by financing activities	6	9	5	−88	118
Net increase in cash and cash equivalents	413,000	125,000	−224,000	−850,741	453,151
Cash paid for interest	23,000	26,000	—	—	—
Cash paid for taxes	1,000	18,000	—	—	—
Issuance of common stock in connection with settlement of vendor payable	111,000	242,000	—	—	—
Issuance of common stock upon partial conversions of Yorkville Note	1	—	—	—	—
Issuance of common stock upon conversions of loans with related parties	2	—	—	—	—
Issuance of common stock upon conversion of PIPE Notes	510,000	—	—	—	—
Issuance of common stock upon conversion of loan extensions with related parties	3	—	—	—	—
Insurance premium settled by issuance of note payable	317,000	318,000	—	—	—
Common stock repurchase consideration in loans payable	312,000	329,000	—	—	—
Common shares issued to partially settle deferred underwriter fees	—	242,000	—	—	—
Recognition of prepaid forward contract in exchange for partial conversion of Yorkville Note	—	343,000	—	—	—
Extinguishment of officer accrued salaries reclassified to additional paid-in capital	—	132,000	—	—	—

Filings

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