Wellgistics Health Inc(WGRX)
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Wellgistics Health Inc(WGRX) - 2025 Q3 - Quarterly Report
2025-11-19 22:23
Revenue Generation and Market Overview - Wellgistics Health expects to generate revenues primarily through Wellgistics Pharmacy and Wellgistics LLC after acquiring Wood Sage, LLC in June 2024 and Wellgistics, LLC in August 2024[182]. - The National Health Expenditure Data for 2022 reached $4.5 trillion, accounting for 17.3% of GDP, with an expected increase to 19.7% by 2032[184]. - Total retail prescription drug spending increased by 8.4% from 2021 to 2022, reaching $405.9 billion[184]. - The U.S. market for medicines reached $435 billion in 2023, with the specialty drug market accounting for over 50% of prescription drug spending despite being less than 10% of total drugs[184]. - Wellgistics, LLC serves over 5,000 registered pharmacies nationwide, focusing on competitive pricing and unique products[172]. - Wellgistics Pharmacy is licensed in 32 states and the District of Columbia, expanding its operations to include mail order pharmacy services[178]. - The pharmacy network includes over 19,000 independent pharmacies across the U.S., capable of delivering prescriptions in hours, servicing approximately 1.3 billion prescriptions annually[185]. - Wellgistics Health aims to enhance patient outcomes by improving medication adherence and providing access to clinical resources[185]. - The company plans to expand its wholesale operations and establish new manufacturer relationships to maximize revenues[185]. Financial Performance - Net revenues for the three months ended September 30, 2025, were $3,012,904, a decrease of approximately 47% compared to $5,673,868 for the same period in 2024[198]. - Gross profit for the three months ended September 30, 2025, was $231,012, representing a decline of approximately 56% from $521,244 in 2024[200]. - General and administrative expenses for the three months ended September 30, 2025, increased to $30,172,800 from $1,798,641 in 2024, primarily due to the acquisition of Wellgistics LLC[202]. - Sales and marketing expenses for the three months ended September 30, 2025, were $803,747, compared to $0 for the same period in 2024, reflecting expanded promotional activities[203]. - Net revenues for the nine months ended September 30, 2025, were $21,667,212, compared to $5,718,408 for the same period in 2024, driven by acquisitions[209]. - Gross profit for the nine months ended September 30, 2025, was $1,429,405, an increase of approximately 176% from $518,636 in 2024[211]. - General and administrative expenses for the nine months ended September 30, 2025, were $66,205,669, up from $2,448,813 in 2024, largely due to acquisitions[214]. - Interest expense for the nine months ended September 30, 2025, was $3,703,837, compared to $142,281 in 2024, reflecting increased financing activities[218]. - The significant increase in other expenses for the nine months ended September 30, 2025, totaled $5,024,498, compared to $126,874 in 2024, primarily due to interest expenses and losses related to acquisitions[217]. - The Company recognized a loss of $1,353,663 for the nine months ended September 30, 2025, due to the amendment of the Membership Interest Purchase Agreement, increasing the promissory note from $15 million to $17.5 million[219]. Debt and Financing Activities - As of September 30, 2025, total debt amounted to $24,809,234, an increase from $23,382,901 as of December 31, 2024[225]. - The Company expects to generate positive cash flow from operations in 2025, driven by annual revenue from Wood Sage and Wellgistics LLC[220]. - The Company issued a total of 3,426,254 shares of common stock, resulting in net proceeds of $2,838,787 as of September 30, 2025[223]. - A public offering of 7,142,862 shares of common stock was filed on September 29, 2025, generating net proceeds of approximately $4.53 million[224]. - The Company entered into a secured term loan of $1,300,000 on August 26, 2025, with a total repayment obligation of $1,872,000[231]. - The Company recorded interest expenses of $668,148 for the nine months ended September 30, 2025, related to various debt instruments[230]. - The Company plans to use proceeds from offerings to strengthen working capital, support operations, and pursue strategic acquisitions[224]. - The Company has ongoing initiatives for facility expansion, employee recruitment, and technology upgrades to meet operational needs[221]. - The Company is focusing on strategic acquisitions to enhance its health ecosystem, including investments in artificial intelligence and data warehousing capabilities[222]. - Wellgistics, LLC entered into a new credit agreement for a line of credit of $10,000,000 with an annual interest rate of 16.84%[241]. - As of September 30, 2025, the outstanding balance on the line of credit was $2,973,751, down from $5,531,260 as of December 31, 2024[241]. Cash Flow and Investment Activities - Net cash used in operating activities for the nine months ended September 30, 2025 was $4,561,776, primarily due to a net loss of $72,981,336[247]. - Net cash provided by financing activities for the nine months ended September 30, 2025 was $8,388,250, driven by gross proceeds of $4,000,000 from the IPO and $20,070,000 from the revolving line of credit[250]. - The company fully repaid the $1.2 million promissory note as of September 30, 2025, compared to an outstanding balance of $137,141 as of December 31, 2024[243]. - The company plans to retain future earnings for operations, expansion, and debt repayment, with no current plans to pay cash dividends[245]. - Net cash used in investing activities for the nine months ended September 30, 2025 was $626,144, primarily for capitalized software expenditures[249]. Accounting and Revenue Recognition - The company recognized revenue at the point of sale, with the majority of orders placed via its website[256]. - The company accounts for acquisitions as business combinations, allocating the purchase price to the fair values of acquired assets and liabilities[262]. - As of September 30, 2025, the company had total outstanding debt principal payments of $24,809,234 scheduled through 2028[244].
Wellgistics Health to Report Third Quarter 2025 Financial Results and Provide a Business Update on the morning of Thursday, November 20th, 2025
Accessnewswire· 2025-11-17 11:00
Core Viewpoint - Wellgistics Health, Inc. is set to report its third quarter 2025 financial results and provide a business update on November 20, 2025, highlighting its role in the healthcare technology sector focused on prescription drug distribution [1] Company Overview - Wellgistics Health, Inc. operates in the health information technology space, specifically optimizing the delivery of medications from manufacturers to patients through licensed pharmacies [1] - The company is publicly traded on NASDAQ under the ticker symbol WGRX [1]
Wellgistics Health Launches EinsteinRx as the Premier AI Prescription Management Hub Solution to Integrate Physical and Technology Healthcare Infrastructure
Accessnewswire· 2025-11-12 12:40
Core Insights - Wellgistics Health, Inc. has launched EinsteinRx, a prescription management solution that integrates physical and technology infrastructure for the prescription drug industry [1] - The integration of EinsteinRx with Wellgistics Hub and HubRx AI aims to optimize healthcare delivery in the $634 billion U.S. prescription drug market [1] - The solution facilitates a seamless flow of information among physicians, pharmacies, and manufacturers, enhancing the overall prescription fulfillment process [1] Company Overview - Wellgistics is positioned as a leader in integrating physical and technology healthcare infrastructure specifically for prescription drugs [1] - The company operates a network that includes in-house pharmacies and over 6,500 independent pharmacies [1] Technology Integration - EinsteinRx allows for customizable integration of various data types, including drug manufacturing data, insurance information, patient data, and nutritional recommendations [1] - The technology aims to deliver optimal solutions for all key stakeholders involved in the prescription drug process [1]
Wellgistics Health Enters into LOI to Acquire Kare Rx Hub
Newsfile· 2025-11-04 11:00
Core Insights - Wellgistics Health has entered into a non-binding letter of intent to acquire Kare Rx Hub, an AI-based digital hub for retail pharmacies and telemedicine, with the transaction expected to close by January 31, 2026 [1][2] Company Overview - Wellgistics Health, Inc. (NASDAQ: WGRX) specializes in next-generation pharmaceutical distribution, digital prescription routing, and AI-powered hub fulfillment, connecting over 6,500 pharmacies and 200 manufacturers [6] - Kare Rx Hub, LLC is an AI-based digital hub that includes telemedicine and specialty pharmaceutical products, boasting over 500 physician-provider relationships and 200 independent pharmacy relationships [3][4] Strategic Implications - The acquisition is anticipated to enhance Wellgistics' capabilities in the telemedicine market, which is projected to grow from $6.7 billion in 2025 to $13.57 billion by 2032 [4] - Wellgistics aims to leverage KareRx's existing relationships and features to improve its service offerings and address inefficiencies in the prescription drug supply chain [2][4] Leadership and Vision - Dr. Kiran Patel, founder of Kare Pharmtech, expressed excitement about becoming shareholders of Wellgistics and contributing to a shared vision of optimizing pharmaceutical dispensing for independent pharmacies [2] - The acquisition is expected to bring a team of seasoned healthcare professionals to Wellgistics, enhancing its operational capabilities [2]
Wellgistics Health Enters into Smart Contract Services Agreement with DataVault AI to Develop Patented PharmacyChain(TM) Manufacturer-to-Patient Blockchain-Enabled Tracking & Dispensing Platform for Prescription Drug Market
Newsfile· 2025-10-27 13:42
Core Insights - Wellgistics Health has entered into a software as a service (SAAS) agreement with DataVault AI to develop a blockchain-enabled tracking and dispensing platform for the prescription drug market, named PharmacyChain™ [2][3] - The partnership aims to optimize Wellgistics' technology and infrastructure, with beta testing expected in the first half of 2026 [2][4] - The prescription drug market is valued at $639 billion, indicating significant potential for revenue generation through this collaboration [2][7] Company Overview - Wellgistics Health, Inc. is a leader in pharmaceutical distribution, digital prescription routing, and AI-powered hub fulfillment, connecting over 6,500 pharmacies and 200 manufacturers [8] - The company aims to restore access, transparency, and trust in U.S. healthcare through its integrated platform [8] Technology and Innovation - The PharmacyChain™ platform will utilize smart contracts to enhance the efficiency of prescription fulfillment, allowing pharmacies to securely receive and transfer data [4][6] - DataVault AI's technology will enable the creation of Digital Twins for pharmaceutical logistics and patient data, facilitating personalized healthcare recommendations based on individual health profiles [7] Market Impact - The collaboration is expected to attract significant interest from manufacturers, pharmacists, and insurers, enhancing the overall efficiency of the prescription fulfillment process [4] - The integration of diagnostic and biometric data is planned to further empower healthcare professionals and improve patient outcomes [6]
Latest Market Movements: Top Gainers Analysis
Financial Modeling Prep· 2025-10-24 22:00
Company Highlights - Wellgistics Health, Inc. (NASDAQ:WGRX) experienced a significant price increase of 168.16%, reaching $1.08, driven by its blockchain initiative in prescription drug tracking [1][5] - MaxsMaking Inc. (NASDAQ:MAMK) saw its stock price rise by 148.70% to $7.43, following a successful IPO that raised $6.5 million, indicating strong investor interest in its innovative textile production [1][5] - Inhibrx Biosciences, Inc. (NASDAQ:INBX) reported a stock price surge of 94.43% to $55.13, likely due to positive developments in its clinical trials for a rare bone cancer treatment [2][5] - Genenta Science S.p.A. (NASDAQ:GNTA) experienced a 92.72% increase in stock price to $6.22, attributed to promising clinical trial results and a strategic partnership with ANEMOCYTE [3] Market Dynamics - The significant price movements across these companies reflect diverse investor interest in sectors such as healthcare, biotechnology, and consumer goods, influenced by clinical trial outcomes, strategic partnerships, and innovative product offerings [4]
This Penny Stock Just Tripled on Blockchain News. Should You Buy Shares Now?
Yahoo Finance· 2025-10-24 18:39
Core Insights - Wellgistics (WGRX) shares surged over 300% following the announcement of a non-binding letter of intent with Datavault (DVLT) for a new initiative called "PharmacyChain" [1] - The PharmacyChain initiative aims to utilize blockchain technology to digitize prescription tracking, enhancing transparency and efficiency in pharmacy operations [3][4] Company Developments - The partnership with Datavault is expected to lend credibility to Wellgistics' technology rollout and indicates a shift from being a traditional distributor to a health-tech innovator [4] - Wellgistics has proposed a revenue-sharing model with pharmacies, potentially creating a recurring income stream for the company [4] Market Context - Despite the recent surge, WGRX shares are still down nearly 85% from their six-month high reached in May [2] - The PharmacyChain initiative is currently in an exploratory phase, with no binding commitments or detailed financial disclosures, which raises questions about its future commercial success [6] Investment Considerations - Wellgistics is characterized as a micro-cap company with minimal revenue and no history of sustained profitability, making it a risky investment [5] - The stock does not currently receive coverage from Wall Street analysts, which may deter potential investors [8]
Wellgistics stock's 200% rally on blockchain update is more hype than substance
Invezz· 2025-10-24 15:14
Core Insights - Wellgistics Health Inc (NASDAQ: WGRX) experienced a significant increase in stock price, more than tripling, following the announcement of a non-binding letter of intent with Datavault AI Inc. (NASDAQ: DVLT) [1] - The initiative, named "PharmacyChain," aims to enhance pharmacy operations through advanced technology solutions [1] Company Summary - Wellgistics Health Inc is actively pursuing strategic partnerships to innovate in the pharmacy sector [1] - Datavault AI Inc. is collaborating with Wellgistics to leverage AI technology for improving pharmacy services [1] Industry Implications - The partnership between Wellgistics and Datavault AI highlights a growing trend in the healthcare industry towards integrating AI and technology in pharmacy operations [1] - This initiative may set a precedent for other companies in the healthcare sector to explore similar technological advancements [1]
DataVault AI and Wellgistics Health Announce Plans for PharmacyChain™ to Implement Manufacturer-to-Patient Blockchain-enabled Smart Contracts for the Prescription Drug Industry to Improve Efficiency and Patient Outcomes
Globenewswire· 2025-10-22 10:05
Core Insights - The partnership between DataVault AI and Wellgistics aims to digitize the U.S. prescription drug market, valued at $634.32 billion, through blockchain-enabled smart contracts to enhance efficiency and transparency in drug distribution [1][2][3] Company Overview - DataVault AI specializes in AI-driven data experiences and monetization, leveraging patented technologies to innovate across various industries, including healthcare [4][5] - Wellgistics Health focuses on improving medication delivery from manufacturers to patients, utilizing an integrated platform that connects over 6,500 pharmacies and 200 manufacturers [6] Strategic Partnership - The collaboration will implement the PharmacyChain™ platform, which seeks to ensure accurate tracking of prescription drugs from the point of prescription to fulfillment, enhancing patient safety and compliance [1][2] - The companies plan to establish a revenue-sharing model based on fees from pharmacies utilizing the PharmacyChain technology [1][3] Technological Innovations - Wellgistics has introduced HubRx AI, an AI engine designed to optimize pharmacy operations, reduce costs, and improve patient outcomes while maintaining compliance with healthcare regulations [2][3] - The integration of various technological tools, including Einstein Rx AI and Wellgistics Hub, aims to enhance the overall efficiency of prescription drug services [2] Market Impact - The implementation of blockchain technology is expected to minimize administrative burdens, improve patient access to medications, and enhance the overall prescription ecosystem [3] - The partnership is positioned to create a scalable opportunity that aligns financial incentives with improved patient outcomes across the healthcare spectrum [2][3]
Wellgistics Health Announces Executive Management and Board Changes
Accessnewswire· 2025-10-13 12:00
Core Viewpoint - Wellgistics Health, Inc. has announced significant leadership changes, including the re-appointment of Prashant Patel as President and Interim-CEO, following the departures of several key executives [1][2][5]. Leadership Changes - Prashant Patel has been re-appointed as President, Interim-CEO, and Member of the Board of Directors after previously resigning in August 2025 [1]. - Eric Sherb has been appointed as Interim-CFO, while Donald Fell, Steven D. Lee, and Howard Doss have joined the Board of Directors, with specific committee roles assigned [2]. - The company has seen the departure of CEO Brian Norton, CFO Mark DiSiena, and COO Tony Madsen, along with board members Rebecca Shanahan and Michael Peterson [2]. Executive Backgrounds - Prashant Patel has extensive experience in the pharmaceutical supply chain, having served in various roles including Director and Chief Strategy Officer at Wellgistics [3]. - Eric Sherb brings 16 years of experience in accounting and has served as CFO for several NASDAQ and OTC clients, including Scienture Holdings [4]. Strategic Focus - The company aims to streamline operations and create new revenue opportunities for independent pharmacies, particularly in light of the evolving biopharmaceutical supply chain [6]. - Wellgistics Health's integrated platform connects over 6,500 pharmacies and 200 manufacturers, providing a range of services including digital prescription routing and AI-powered hub services [7].