SRX Global Inc. SRXH
Health Solutions Inc. ("SRx" or the "Company") is the successor reporting entity following a reverse merger with
Better Choice Company, Inc. ("Better Choice" or "BTTR"), the pet health and wellness business.
SRx was engaged in specialty pharmaceuticals and healthcare services, including a series of acquisitions to expand its operations. These
legacy operations faced financial difficulties and subsequently filed for bankruptcy, resulting in the winding down of the majority of
Last close
1.51
2026-09-04
Market cap
$30.6M
2026-06-30 share count
52-week range
0.96 - 42.61
Valuation FY2025 figures against the last close
P/S4.7x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-2.13
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.5M | $2.0M | $38.6M | $54.7M | $46.0M | $42.6M | $15.6M | $14.8M | $1.7K | $48 |
| Cost of revenue | $5.0M | $22.0M | $26.8M | $39.4M | $30.6M | $26.5M | $9.7M | $7.5M | $334 | $5 |
| Gross profit | $1.5M | $13.0M | $11.8M | $15.3M | $15.4M | $16.1M | $5.9M | $7.3M | $1.4K | $43 |
| R&D | — | $100.0K | $100.0K | $500.0K | $500.0K | $100.0K | — | — | — | — |
| SG&A | $12.9M | $19.0M | $24.4M | $35.4M | $28.5M | $34.5M | $19.8M | $6.1M | $525.4K | $132.2K |
| Total operating expenses | $12.9M | $19.0M | $33.0M | $54.0M | $32.6M | $43.4M | $42.2M | $12.5M | $525.4K | $459.7K |
| Operating income | -$11.4M | -$6.0M | -$21.2M | -$38.8M | -$17.3M | -$27.3M | -$36.3M | -$5.2M | -$524.0K | -$459.7K |
| Interest expense | $628.0K | $467.0K | $1.4M | $551.0K | $3.2M | $9.2M | $670.0K | $868.0K | $780.3K | $412.0K |
| Pre-tax income | -$8.6M | -$159.0K | -$22.8M | -$39.3M | $3.4M | -$59.3M | -$184.5M | -$1.1M | -$1.7M | -$933.8K |
| Income tax | — | $1.2M | $267.0K | $18.0K | $37.0K | $0 | $0 | $0 | $0 | $0 |
| Net income | -$45.0M | -$43.1M | -$22.8M | -$39.3M | $3.4M | -$59.3M | -$184.5M | -$6.0M | -$1.7M | -$933.8K |
| EPS, basic | -2.13 | -1.95 | -32.29 | -58.93 | 0.15 | -7.26 | — | — | -0.02 | -0.01 |
| EPS, diluted | -2.13 | -1.95 | -32.29 | -58.93 | 0.14 | -7.26 | -5.55 | -0.52 | -0.58 | -0.01 |
| Shares, diluted (wtd. avg.) | $21.1M | $22.1M | $12.4M | $667.1K | $21.9M | $8.2M | — | $3.0M | $3.0M | $70.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.3M | $106.0K | $4.5M | $9.5M | $28.9M | $4.0M | $2.5M | $3.9M | $157.0K | $10.2K |
| Receivables | $3.9M | $9.3M | $4.4M | $6.7M | $6.8M | $4.6M | $5.8M | $116.0K | $0 | $45 |
| Inventory | $2.1M | $3.4M | $6.6M | $10.3M | $5.2M | $4.9M | $6.6M | $1.6M | $14.9K | $6.4K |
| Total current assets | $8.1M | $13.6M | $16.2M | $27.5M | $43.9M | $17.6M | $17.6M | $5.9M | $16.3K | $16.6K |
| Property, plant and equipment | $88.0K | $6.0M | $230.0K | $375.0K | $369.0K | $252.0K | $417.0K | $71.0K | $0 | $0 |
| Goodwill | — | $405.0K | $18.3M | $0 | $18.6M | $18.6M | $18.6M | $0 | — | — |
| Other intangibles | — | $7.0M | — | $10.1M | $11.6M | $13.1M | $14.6M | $0 | — | — |
| Total assets | $8.4M | $33.8M | $16.7M | $38.7M | $74.7M | $51.3M | $53.5M | $6.0M | $16.3K | $16.6K |
| Accounts payable | $2.1M | $39.8M | $6.9M | $2.9M | $4.6M | $3.1M | $4.0M | $765.0K | $106.7K | $28.4K |
| Short-term debt | — | $31.6M | $4.6M | $165.0K | $855.0K | $8.0M | $20.9M | $0 | $554.0K | — |
| Total current liabilities | $3.5M | $81.3M | $13.7M | $5.6M | $7.3M | $54.6M | $33.0M | $9.0M | $1.2M | $591.0K |
| Long-term debt | — | $696.0K | $4.6M | $11.4M | $9.4M | $24.6M | $16.4M | $6.2M | $0 | — |
| Total liabilities | $8.0M | $88.9M | $13.8M | $17.1M | $16.8M | $79.4M | $50.0M | $9.0M | — | — |
| Retained earnings | -$22.9M | -$70.0M | -$321.3M | -$298.6M | -$259.3M | -$260.6M | -$201.3M | -$16.7M | -$3.1M | -$1.4M |
| Total equity | $407.0K | -$55.1M | -$33.8M | $21.5M | $57.9M | -$28.1M | -$7.1M | -$3.0M | -$2.1M | -$574.3K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$8.1M | -$1.5M | $97.0K | -$20.6M | -$11.9M | -$7.5M | -$21.0M | -$6.9M | -$39.8K | -$180.6K |
| Depreciation and amortisation | $100.0K | $100.0K | $200.0K | $200.0K | $100.0K | $200.0K | $100.0K | — | $0 | $2.2K |
| Stock-based compensation | $3.2M | $3.7M | $1.8M | $3.0M | $4.1M | $8.9M | $10.3M | $431.0K | — | — |
| Capital expenditure | — | $41.0K | $18.0K | $198.0K | $353.0K | $151.0K | $110.0K | $31.0K | $0 | $250.0K |
| Investing cash flow | $5.9M | -$1.1M | -$18.0K | -$198.0K | -$353.0K | -$151.0K | -$20.2M | -$31.0K | $0 | -$250.0K |
| Financing cash flow | $12.2M | $932.0K | -$5.1M | $1.3M | $37.2M | $9.1M | $39.8M | $10.7M | $31.0K | $440.8K |
| Buybacks | — | — | — | $0 | $1.6M | $0 | — | $0 | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-021307.
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