Wellgistics Health, Inc. (NASDAQ:WGRX) saw its stock decline 3.45% in pre-market trading on Thursday after the company reported a much larger third-quarter loss, driven primarily by a spike in stock-based compensation.
The health IT firm posted a Q3 2025 net operating loss of $33.878 million, a dramatic widening from the $1.867 million loss recorded a year earlier. Revenue totaled $3.01 million, while loss per share expanded to -$0.46. Management said the steeper loss was mainly due to stock-based compensation tied to a pre-IPO acquisition within its pharmaceutical distribution division.
“The last 6 weeks have really allowed me to understand the different stages of development of the various parts of the business,” said Prashant Patel, President and Interim-CEO, who returned to the role on October 6, 2025.
Wellgistics emphasized that its EinsteinRx AI pharmacy hub has reached completion and is ready for deployment. The company is prioritizing sales of Brenzavvy for Type 2 diabetes and intends to use EinsteinRx to lower patient out-of-pocket costs.
“One of the brightest spots in my review has been the tremendous work done over the last 6 months by our technology team led by Chief Technology Officer Srini Kalla to finalize EinsteinRx and make it ready for launch,” Patel added.
The company is also in late-stage talks to license blockchain smart-contract IP from DataVault AI (NASDAQ:DVLT), with a deal expected either in Q4 2025 or early 2026. Additionally, Wellgistics plans to introduce its first GLP-1 side-effect mitigation product—designed to counter muscle loss—in the first quarter of 2026.
Weighted average shares outstanding climbed to 74.379 million, up sharply from 48.403 million a year earlier, contributing to a more diluted per-share result.
Wellgistics also said it has terminated its previously announced acquisition of Peek Healthcare Technologies, stating it “no longer strategically aligns with our plans for the future.”