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Wellgistics Health, Inc.
WGRXCIK 0002030763NasdaqEmerging GrowthWholesale-Drugs, Proprietaries & Druggists' SundriesDelawareFY ends Dec 31
Period
FY 2025
Revenue
$23.34M
Net Income
$-101.27M
Total Assets
$30.46M
Equity
$-12.45M
Shares Out
104.87M
Op. Cash Flow
$-10.86M
Business
Wellgistics Health, Inc. is a holding company that operates a micro health ecosystem focused on pharmaceuticals and healthcare services. It offers pharmacy services, wholesale distribution and third-party logistics, a technology-driven hub and clinical concierge platform, patient care coordination, prior authorization support, and data analytics. Its primary business segments are Wellgistics Pharmacy (retail and specialty pharmacy services), Wellgistics LLC (wholesale distribution and 3PL), and DelivMeds (hub, mobile pharmacy and clinical services). The company distributes products and digital services across the United States through a network of independent pharmacies, mail order fulfillment, manufacturer partnerships, provider channels, and delivery partners.
Summary from filing dated 2025-03-25
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Net revenues | 23 | 18 | — | |
| Cost of net revenues | 30 | 16 | — | |
| Gross profit (loss) | −6 | 2 | — | |
| General and administrative | 70 | 7 | 3 | |
| Sales and marketing | 1 | — | — | |
| Depreciation and amortization | 3 | 1 | — | |
| Goodwill and intangible assets impairment | 13 | — | — | |
| Total operating expenses | 87 | 8 | 3 | |
| Loss from operations | −94 | −6 | −3 | |
| Interest expense, net | −5 | −831,467 | −15,081 | |
| Loss on debt extinguishment | −3 | — | — | |
| Other income | 42,045 | 120,373 | — | |
| Total other expense, net | −8 | −711,094 | −15,081 | |
| Net loss before income taxes | −101 | −7 | −3 | |
| Provision for income taxes | — | — | — | |
| Net loss | −101 | −7 | −3 | |
| Weighted average common shares outstanding - basic | 71 | 47 | 45 | |
| Weighted average common shares outstanding - diluted | 71 | 47 | 45 | |
| Net loss per common share - basic | −1.43 | −0.15 | −0.06 | |
| Net loss per common share - diluted | −1.43 | −0.15 | −0.06 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 42,571 | 1 | 1,364 | — | |
| Inventories, net | 2 | 10 | — | — | |
| Prepaid expenses | — | 524 | — | — | |
| Deferred offering costs | — | 875,385 | — | — | |
| Total current assets | 3 | 15 | 338,364 | — | |
| Property, plant and equipment, net | 229,376 | 388,180 | — | — | |
| Capitalized software | 2 | 2 | — | — | |
| Operating lease, right-of-use-assets | 966,893 | 2 | — | — | |
| Goodwill | 14 | 16 | — | — | |
| Other intangible assets, net | 10 | 21 | — | — | |
| Note receivable | — | 139,771 | — | — | |
| Other assets | — | 1 | — | — | |
| Deposits | 85,008 | 85,008 | — | — | |
| Total assets | 30 | 57 | 338,364 | — | |
| Accrued expenses and other liabilities | 6 | 4 | 2 | — | |
| Current portion of debt obligations, net of debt discount | 11 | 12 | — | — | |
| Operating lease liabilities- current portion | 569,251 | 519,490 | — | — | |
| Total current liabilities | 30 | 38 | 3 | — | |
| Loan payable | — | 55,085 | — | — | |
| Operating lease liabilities | 527,122 | 1 | — | — | |
| Total liabilities | 43 | 51 | 3 | — | |
| Commitments and contingencies (Note 13) | — | — | — | — | |
| Common stock, $0.0001 par value, 500,000,000 shares authorized, 102,289,619 and 51,055,508 shares issued and 101,307,498 and 51,055,508 shares outstanding as of December 31, 2025 and December 31, 2024, respectively | 10,131 | 5,105 | 4,472 | — | |
| Additional paid-in capital | 99 | 16 | −3,972 | — | |
| Accumulated deficit | −111 | −10 | −3 | — | |
| Total stockholders equity (deficit) | −12 | 7 | −3 | −5,250 | |
| Total liabilities and stockholders equity (deficit) | 30 | 57 | 338,364 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Allowances for credit losses and note receivable | 927,596 | 93,378 | — | |
| Write off of other assets | 1 | — | — | |
| Amortization of debt discount | 33,411 | — | — | |
| Stock-based compensation | 55 | 1 | — | |
| Goodwill and intangble assets impairment | 13 | — | — | |
| Reserve for obsolete inventory | 6 | — | — | |
| Depreciation | 158,804 | 67,616 | — | |
| Amortization | 3 | 1 | — | |
| Accounts receivable, net | 799,771 | −40,081 | — | |
| Inventories, net | 2 | −72,356 | — | |
| Prepaid expenses | 524 | 11,435 | — | |
| Other assets | — | −587,539 | — | |
| Accounts payable | 2 | −882,315 | 1 | |
| Accrued expenses and other liabilities | 3 | 2 | 2 | |
| Operating lease liabilities, net | 41,746 | 22,091 | — | |
| Due from / to related parties, net | 321,090 | 3 | −269,207 | |
| Net cash used in operating activities | −11 | −1 | −349,136 | |
| Cash acquired in business combinations | — | 931,368 | — | |
| Deposits for operating leases | — | −85,008 | — | |
| Investments in capitalized software | −881,526 | −377,288 | — | |
| Net cash (used in) provided by investing activities | −881,526 | 469,072 | — | |
| Proceeds from promissory note | 865,000 | — | — | |
| Repayment of seller promissory note | −137,141 | −135,777 | — | |
| Proceeds from revolving line of credit | 20 | 756,480 | — | |
| Repayment of revolving line of credit | −24 | — | — | |
| Proceeds from Merchant cash advance | 1 | 1 | — | |
| Repayment of merchant cash advance | −2 | — | — | |
| Proceeds from term loan | 2 | — | — | |
| Repayment f term loan | −652,931 | — | — | |
| Proceeds from common stock issued pursuant to equity purchase agreement | 3 | — | — | |
| Proceeds from common stock issued pursuant to IPO | 4 | — | — | |
| Proceeds from common stock issued pursuant to public offering | 5 | — | — | |
| Proceeds from exercise of warrants | 2 | — | — | |
| Proceeds from common stock issued | — | 10,000 | — | |
| Offering costs | −810,583 | −162,310 | — | |
| Net cash provided by financing activities | 11 | 2 | 350,500 | |
| Net change in cash and cash equivalents | −985,765 | 1 | 1,364 | |
| Cash paid for income taxes | — | — | — | |
| Cash paid for interest | 3 | 332,847 | — | |
| Licence acquired through accounts payable | 3 | — | — | |
| Issuance of commitment shares under equity purchase agreement | 594,320 | — | — | |
| Derecognition of promissory note and accrued interest pursuant to debt extinguishment | 16 | — | — | |
| Common stock issued in partial settlement of sellers note | 10 | — | — | |
| Common stock issued pursuant to debt settlement | 5 | — | — | |
| Assets acquired in business combinations | — | 39 | — | |
| Liabilities assumed in business combinations | — | 15 | — | |
| Common stock issued pursuant to business combinations | — | 15 | — | |
| Repayment of note payable by related party on behalf of Company | — | 250,000 | — | |
| Note payable issued pursuant to business combination | — | 15 | — | |
| Liabilities payable pursuant to business combination | — | 10 | — | |
| Shares issued pursuant to business combination | — | 15 | — | |
| Promissory note issued pursuant to business combination | — | 15 | — | |
| Debt assigned to related party | — | 250,000 | — |
Filings
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