Company Overview and Strategy - SRx Health Solutions was founded in 2013 with a patient-centric approach to specialty pharmacy care[13] - The company has expanded to 20 pharmacies, 34 clinics, and 4 clinical trial sites across Canada[14] - SRx entered the U S market by signing a letter of intent to acquire 100% of Choice Specialty Pharmacy Group, which has five sites in Texas and licenses to distribute across 26 states[16] - SRx aims to create a comprehensive North American healthcare network by integrating its Canadian operations with the acquired U S operations[55] Market Opportunity - 73% of Canadians aged 65+ report having at least one chronic disease[39] - 33% of Canadians aged 65+ report having two or more chronic diseases[39] - 52% of Canadians aged 60+ take three or more prescription medications[39] - U S specialty drug spend represents approximately 51% of total 2024 U S drug purchases, amounting to ~$410 billion[41] - U S specialty drug spend growth in 2024 was ~11 9%, compared to 8 1% for traditional drugs[41] Financials and Capitalization - The pro forma combined net debt is $39 4 million[51] - Insiders own 75%+ of the company, while non-affiliates own 25%[51]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40477 SRx Health Solutions Inc. (Exact name of registrant as specified in its charter) Delaware 83-4284557 (State or other juri ...

Company Overview - Better Choice Company, Inc. has completed its name change to SRx Health Solutions Inc. and began trading under the new ticker symbol 'SRXH' on April 30, 2025 [1] - The name and ticker change follows the successful business combination between Better Choice Company and SRx Health, positioning the combined entity as a leading global health and wellness company focused on delivering better products and solutions for pets, people, and families [2] Industry Position - SRx Health Solutions Inc. operates as an integrated healthcare services provider within the specialty healthcare industry in Canada, with a network that spans all ten provinces [3] - The company aims to provide comprehensive, integrated, and customized specialty healthcare services, leveraging industry knowledge, technology, and a patient-centric approach to enhance wellness for Canadians [3]

Group 1 - SRx Health Solutions, Inc. will distribute one share of Class A Common Stock of Halo Spin-Out SPV Inc. for every share of common stock held by stockholders of record as of April 23, 2025 [1] - The Spin-Out Distribution is part of a business combination transaction between the Company and SRx Health Solutions, Inc. (Canada) that was completed on April 24, 2025 [2] - The Company's new name and ticker symbol "SRXH" will be effective on the NYSE American starting April 30, 2025 [2] Group 2 - SRx Health Solutions Inc. operates as an integrated healthcare services provider within the specialty healthcare industry across all ten Canadian provinces [3] - The Company focuses on creating strategies and solutions that enhance patient care and wellness in Canada [3]

Company Overview - Better Choice Company, Inc. is a rapidly growing pet health and wellness company focused on providing nutrition-based products for dogs and cats, aiming to enhance their health and longevity [2] - The company positions its portfolio to capitalize on trends in pet humanization and consumer health consciousness, leveraging a multi-decade track record in selling trusted pet health products [2] - The majority of its products, including dog food, cat food, and treats, are marketed under the Halo brand, which emphasizes sustainably sourced ingredients and minimally processed diets [2] Recent Developments - Better Choice Company announced the cancellation of a previously declared stock dividend of $0.35 per share, which was set for every 1 share of common stock [1]

Core Points - Better Choice Company, Inc. has completed its business combination with SRx Health Solutions, Inc. and closed an $8.8 million private placement [1][2] - The company will issue 28.6 million shares of common stock as part of the business combination and will change its name to "SRx Health Solutions Inc." with a new ticker symbol "SRXH" effective April 30, 2025 [2] - The Chairman of Better Choice expressed gratitude to shareholders and emphasized the transformative nature of this opportunity for the company [3] Company Overview - Better Choice Company, Inc. is focused on pet health and wellness, aiming to lead the industry shift towards healthier pet products and services [5] - The company adopts a nutrition-based approach to pet health, positioning its brands to benefit from trends in pet humanization and consumer health focus [5] - The Halo brand, under which the majority of its products are sold, emphasizes sustainably sourced ingredients and minimally processed options for pets [5]

Core Viewpoint - Better Choice Company, Inc. has announced a stock dividend of $0.35 per share for every 1 share held, with changes to the payable and record dates for the dividend [1][2]. Group 1: Stock Dividend Announcement - The Board of Directors approved a stock dividend of $0.35 per share for every 1 share of common stock [1]. - The payable date for the stock dividend has been changed from April 17, 2025, to April 21, 2025 [1]. - The record date for determining stockholders entitled to receive the stock dividend has been changed from April 17, 2025, to April 28, 2025 [2]. Group 2: Trading and Ex-Dividend Information - Shares will trade with a due bill for the stock dividend from April 28, 2025, through April 29, 2025 [2]. - The ex-dividend date will be April 30, 2025, which is the first business day following the payment date of April 29, 2025 [2]. - Shareholders of record as of April 28, 2025, must hold their stock through April 29, 2025, to receive the stock dividend [2]. Group 3: Company Overview - Better Choice Company, Inc. is a rapidly growing pet health and wellness company focused on nutrition-based approaches to pet health [3]. - The company aims to lead the industry shift towards healthier pet products and services, benefiting from trends in pet humanization and consumer health focus [3]. - The majority of its products, including dog food, cat food, and treats, are sold under the Halo brand, emphasizing sustainably sourced ingredients and minimally processed options [3].

Core Viewpoint - Better Choice Company has reinstated its stock repurchase program with an increased authorization of up to $6.5 million for its common stock until December 31, 2025, indicating a belief that its equity is undervalued [1][2]. Group 1: Stock Repurchase Program - The Board of Directors has authorized a stock repurchase program up to $6.5 million, following the previous program that repurchased 102,405 shares at an average price of $1.9869 per share [1][2]. - The repurchase may occur in open market or private transactions, depending on various factors such as stock availability and market conditions [2]. Group 2: Company Overview - Better Choice Company is focused on pet health and wellness, promoting products that help pets live healthier lives through a nutrition-based approach [3]. - The company markets its products under the Halo brand, which emphasizes sustainably sourced ingredients and minimally processed food options [3].

Core Insights - Better Choice Company, Inc. has successfully sold its Asian business through its subsidiary Halo, Purely for Pets, Inc. for total gross proceeds of $8.1 million, which includes $6.5 million in cash and a 5-year royalty agreement [1][3][4] - The transaction allows Better Choice to focus on its core health and wellness product portfolio while creating an additional revenue stream through the royalty arrangement [3][4] - The company aims to maximize shareholder value by optimizing its asset portfolio and improving financial flexibility, which may include stock repurchase programs or further dividends [4] Company Overview - Better Choice Company, Inc. is a rapidly growing pet health and wellness company that focuses on nutrition-based approaches to pet health, positioning its brands to benefit from trends in pet humanization and consumer health consciousness [5] - The company primarily sells dog food, cat food, and treats under the Halo brand, emphasizing sustainably sourced ingredients and minimally processed options [5]

Core Insights - Better Choice Company, Inc. has successfully sold its Asian business through its subsidiary Halo, Purely for Pets, Inc. for total gross proceeds of $8.1 million, which includes $6.5 million in cash and a 5-year royalty agreement [1][3][4] - The transaction allows Better Choice to focus on its core health and wellness product portfolio while creating an additional revenue stream through the royalty arrangement [3][4] - The sale is part of the company's strategy to maximize shareholder value by optimizing its asset portfolio and improving financial flexibility [3][4] Financial Details - The cash proceeds from the sale amount to $6.5 million, equating to $3.34 per share based on 2,422,005 shares outstanding as of March 25, 2025 [1] - The royalty agreement guarantees a minimum total payment of $1.65 million over five years, with a minimum annual payment of $330,000 based on a 3% royalty on sales [1] Strategic Focus - Halo will retain ownership of its key North American operations and global operations outside of Asia, allowing the company to concentrate on its core markets and strategic initiatives [2] - The Chairman of Better Choice emphasized the importance of this strategic transaction in strengthening the balance sheet and focusing resources on core offerings [4] - The company may consider stock repurchase programs, further dividends, or allocation of cash reserves into alternative investments such as silver and gold to maximize shareholder value [4] Company Overview - Better Choice Company, Inc. is a growing pet health and wellness company that focuses on nutrition-based approaches to pet health, positioning its brands to benefit from trends in pet humanization and consumer health awareness [5] - The company sells a majority of its products under the Halo brand, which emphasizes sustainably sourced ingredients and minimally processed options for pet food [5]