SRx Health Solutions reported revenue of $2.8 million for the quarter ending December 31, 2025, an 85% decline from $19.2 million in the same period a year earlier. The company posted a net loss of $8.6 million compared with a $4.0 million loss in the prior-year quarter.
Operating expenses totaled $4.8 million for the quarter, down 69% from $15.5 million a year earlier. Gross profit came in at $1.1 million on cost of goods sold of $1.8 million, yielding a gross margin of 38%.
The company burned $2.9 million in cash from operations during the quarter, a reversal from $1.5 million generated in the year-earlier period. Cash from investing activities was negative $8.5 million, compared with a positive $2.7 million inflow a year ago.
SRx Health Solutions raised $23.1 million in financing activities during the quarter, compared with a $3.6 million outflow in the prior-year period. Cash and cash equivalents stood at $13.1 million as of December 31, 2025, up from $1.3 million at September 30, 2025.
Total assets surged to $27.1 million at quarter-end from $8.4 million three months earlier. The increase was driven by current assets, which more than doubled to $18.8 million from $8.1 million. Accounts receivable declined to $3.1 million from $3.9 million, while inventory fell to $1.3 million from $2.1 million.
Total liabilities climbed to $23.5 million from $8.0 million at the prior quarter-end, with current liabilities jumping to $23.5 million from $3.5 million. Accounts payable decreased to $1.2 million from $2.1 million.
Stockholders' equity turned positive at $3.5 million as of December 31, up from $407,000 at September 30. The company's retained deficit widened to $31.5 million from $22.9 million. Common shares outstanding quadrupled to 98.8 million from 24.9 million over the three-month period.
The company reported a loss of $0.26 per share on a basic and diluted basis, compared with a $0.17 per share loss in the year-ago quarter. Weighted average shares outstanding increased to 33.7 million from 23.6 million.
| Metric | Q1 FY2026 | Q1 FY2025 |
|---|---|---|
| Revenue | $2.8 million | $19.2 million |
| Gross Profit | $1.1 million | N/A |
| Operating Expenses | $4.8 million | $15.5 million |
| Operating Loss | $3.8 million | N/A |
| Net Loss | $8.6 million | $4.0 million |
| EPS (Diluted) | -$0.26 | -$0.17 |
| Cash from Operations | -$2.9 million | $1.5 million |
| Cash & Equivalents | $13.1 million | N/A |