SRX Health Solutions, Inc.
0.3376-0.03 (-8.76%)
Oct 29, 4:00:00 PM EDT · NYSE American · SRXH · USD
Key Stats
Market Cap
8.39MP/E (TTM)
-Basic EPS (TTM)
-Dividend Yield
0%Recent Filings
8-K
NYSE compliance notice issued
SRx Health Solutions received a NYSE American notice on October 14, 2025, flagging noncompliance with continued listing standards due to stockholders' equity below $4 million amid net losses in three of four recent fiscal years. Trading continues uninterrupted under SRXH, but the company must submit a compliance plan by November 13, 2025, aiming for full adherence by July 14, 2026. It plans shareholder-friendly measures to cure the deficiency. No immediate business disruption.
10-Q
Q3 FY2025 results
SRx Health Solutions posted Q3 FY2025 net sales of $11.4M, down 73% y/y from $42.7M amid liquidity strains curbing specialty pharmacy volumes, while gross margin held at 30% despite the drop. Operating loss widened to $17.4M from $1.3M y/y, fueled by $18.2M SG&A (up 69%) tied to merger costs and $2.7M customer list impairment; net loss hit $15.1M or $(0.74) diluted EPS, versus $(0.14) last year, with the $1.7M bargain purchase gain from April's reverse merger softening the blow. Cash stood at $0.9M against $26.7M total debt (all current due to covenant breaches), free cash flow not disclosed in the 10-Q; YTD figures reconcile with 19.3M diluted shares. The April merger with Better Choice folded in a slim $2.7M pet products segment, yet Canadian ops dominate. Restructuring under Canada's CCAA looms as a key risk, testing viability amid covenant woes.
8-K
Auditor switch amid CCAA sales
SRx Health Solutions dismissed CBIZ as its auditor on September 15, 2025, and engaged Davidson amid ongoing CCAA proceedings for SRx Canada, where most assets are sold via court-approved deals set to close soon. A $1.8 million revenue overstatement from 2024 prescriptions will be revised in the upcoming 10-Q, adding to material weaknesses in controls. No clean audit history. This signals persistent financial turbulence post-merger.
8-K
SRx cancels 18.8M shares
SRx Health Solutions canceled approximately 18.8 million exchangeable shares, representing 60% of its outstanding common stock and exchangeable shares, via a settlement agreement with SRx Canada's founders and affiliates, effective upon release of pledged shares. This forfeiture, tied to the subsidiary's creditors arrangement proceedings, resolves disputes from the prior acquisition while freeing the company from related claims. Board member Adesh Vora resigned immediately on August 13, 2025. The company plans to pursue legal remedies against non-settling former officers.
8-K
Canadian subsidiary enters CCAA
SRx Health Solutions' Canadian subsidiary launched CCAA restructuring proceedings on August 12, 2025, securing a stay of proceedings, monitor appointment, and up to $1,750,000 in DIP financing to sustain operations and pursue a sale of its business or assets. U.S. operations, including the Halo subsidiary, remain unaffected with no bankruptcy filings planned. This shields Canadian stakeholders while exposing restructuring risks. Proceedings buy time.
CPMD
Cannapharmarx Inc.
0.01+0.00
EHC
Encompass Health Corporation
125.63-0.65
FCHS
First Choice Healthcare Solutio
0.01+0.00
GRDN
Guardian Pharmacy Services, Inc
28.55-1.01
MCK
McKesson Corporation
807.63+3.04
NUTX
Nutex Health Inc.
127.83-0.85
PIII
P3 Health Partners Inc.
8.66-0.22
PMHS
Polomar Health Services, Inc.
0.20+0.00
SYRA
Syra Health Corp.
0.07+0.00
UHS
Universal Health Services, Inc.
225.30+5.98