OneMedNet Financials
OneMedNet (ONMD) reported $1.5M in revenue over the twelve months to Jun 30, 2026, up 216.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A development-stage model consumes operating cash faster than revenue can fund R&D, leaving external financing central to a balance sheet with negative equity.
Revenue more than doubled from FY2024 to FY2025, yet operating cash flow remained at-$7.5M while operating loss was-$9.7M ; the top-line rebound has not translated into a self-funding operating model. Net loss was only-$2.8M versus that operating loss, indicating below-operating-line items softened reported earnings without changing the business’s cash demand.
FY2025 R&D reached
The current ratio improved from 0.2x in FY2024 to 0.4x in FY2025, but still leaves short-term resources below short-term obligations. With liquidity measured at 0.9 months of reported outflow and equity still negative, the financing structure remains dependent on sources outside ongoing operations.
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of OneMedNet's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
OneMedNet's reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 4/100.
OneMedNet's revenue surged 111.4% year-over-year to $1.4M, reflecting rapid business expansion. This strong growth earns a score of 62/100.
Not available for OneMedNet, and counted as zero in the overall score.
OneMedNet's current ratio of 0.43 is below the typical benchmark, resulting in a score of 4/100. This tight liquidity could limit financial flexibility if cash inflows slow.
OneMedNet's reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 3/100.
Not available for OneMedNet, and counted as zero in the overall score.
OneMedNet scores -79.62, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($34.4M) relative to total liabilities ($5.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
OneMedNet passes 5 of 9 financial strength tests. 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
OneMedNet reported a net loss of $2.8M while operations used $7.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
OneMedNet reported an operating loss of $9.7M against $67K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
OneMedNet generated $1.4M in revenue in fiscal year 2025. This represents an increase of 111.4% from the prior year.
OneMedNet's EBITDA was -$9.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 0.6% from the prior year.
OneMedNet reported -$2.8M in net income in fiscal year 2025. This represents an increase of 72.3% from the prior year.
Cash & Balance Sheet
OneMedNet recorded an outflow of $7.5M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 7.3% from the prior year.
OneMedNet held $585K in cash against $220K in long-term debt as of fiscal year 2025, with $4.8M of liabilities due within a year.
Not reported for fiscal year 2025.
Margins & Returns
OneMedNet's gross margin was -37.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 6.7 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for fiscal year 2025.
Capital Allocation
OneMedNet invested $1.5M in research and development in fiscal year 2025. This represents an increase of 3.3% from the prior year.
OneMedNet invested $13K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 74.5% from the prior year.
Not reported for fiscal year 2025.
ONMD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $292K+204.2% | $96K-89.2% | $890K+402.8% | $177K+14.2% | $155K+13.1% | $137K+426.9% | $26K-81.7% | $142K |
| Cost of Revenue | $857K+80.0% | $476K-32.6% | $706K+76.9% | $399K+0.8% | $396K+9.7% | $361K+594.2% | $52K-77.0% | $226K |
| Gross Profit | -$565K-48.7% | -$380K-306.5% | $184K+182.9% | -$222K+7.9% | -$241K-7.6% | -$224K-761.5% | -$26K+69.0% | -$84K |
| R&D Expenses | $324K+4.2% | $311K-32.7% | $462K+43.0% | $323K-15.4% | $382K+9.8% | $348K+2.1% | $341K+14.4% | $298K |
| SG&A Expenses | $981K-33.9% | $1.5M-39.4% | $2.4M+76.5% | $1.4M+17.2% | $1.2M-13.1% | $1.4M-36.3% | $2.1M+17.9% | $1.8M |
| Operating Income | -$2.3M+11.4% | -$2.6M+18.9% | -$3.1M-40.7% | -$2.2M-8.3% | -$2.1M+7.2% | -$2.2M+18.1% | -$2.7M-16.2% | -$2.3M |
| Interest Expense | $9K-10.0% | $10K+25.0% | $8K+33.3% | $6K-72.7% | $22K-29.0% | $31K-66.7% | $93K+564.3% | $14K |
| Net Income | -$2.2M+11.5% | -$2.5M+21.9% | -$3.1M-323.8% | -$741K-124.8% | $3.0M+256.8% | -$1.9M+19.8% | -$2.4M-15.3% | -$2.1M |
| EPS (Diluted) | -$0.040.0% | -$0.04+42.9% | -$0.07 | -$0.01 | $0.07+216.7% | -$0.06+14.3% | -$0.070.0% | -$0.07 |
Not reported in any period shown, so not listed: Income Tax.
ONMD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.4M-9.5% | $1.5M-29.9% | $2.2M+42.8% | $1.5M-35.6% | $2.3M+34.9% | $1.7M-53.5% | $3.7M-15.1% | $4.4M |
| Current Assets | $1.3M-10.1% | $1.5M-30.3% | $2.1M+44.9% | $1.4M-36.2% | $2.3M+39.0% | $1.6M-54.9% | $3.6M-15.9% | $4.3M |
| Cash & Equivalents | $358K+53.6% | $233K-60.2% | $585K+292.6% | $149K+22.1% | $122K-15.3% | $144K-16.3% | $172K-91.1% | $1.9M |
| Accounts Receivable | $664K-4.7% | $697K+40.8% | $495K-14.9% | $582K+129.1% | $254K+2.8% | $247K+16.0% | $213K+238.1% | $63K |
| Total Liabilities | $4.9M-12.6% | $5.6M+9.2% | $5.1M-6.0% | $5.4M-11.9% | $6.2M-66.2% | $18.3M-7.1% | $19.7M+5.5% | $18.7M |
| Current Liabilities | $4.7M-11.7% | $5.4M+11.0% | $4.8M-3.6% | $5.0M-18.7% | $6.2M-66.1% | $18.2M-5.6% | $19.2M+3.2% | $18.6M |
| Long-Term Debt | $132K-25.0% | $176K-20.0% | $220K | N/A | N/A | $2.3M+0.6% | $2.3M+0.6% | $2.3M |
| Total Equity | -$3.5M+13.8% | -$4.1M-37.6% | -$3.0M+24.7% | -$3.9M-2.6% | -$3.8M+76.8% | -$16.6M-3.8% | -$15.9M-11.8% | -$14.3M |
| Retained Earnings | -$109.0M-2.0% | -$106.8M-2.4% | -$104.4M-3.1% | -$101.2M-0.7% | -$100.5M+2.9% | -$103.5M-1.9% | -$101.6M-2.4% | -$99.2M |
Not reported in any period shown, so not listed: Inventory, Goodwill.
ONMD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.9M-21.6% | -$1.5M+10.0% | -$1.7M+1.9% | -$1.7M+20.2% | -$2.2M-18.1% | -$1.9M+7.1% | -$2.0M-4.9% | -$1.9M |
| Capital Expenditures | $9K+350.0% | $2K-60.0% | $5K | $0-100.0% | $3K-40.0% | $5K-85.7% | $35K+288.9% | $9K |
| Free Cash Flow | -$1.9M-22.0% | -$1.5M+10.1% | -$1.7M+1.7% | -$1.7M+20.3% | -$2.2M-17.9% | -$1.9M+8.5% | -$2.0M-6.2% | -$1.9M |
| Investing Cash Flow | $56K-84.1% | $352K+790.2% | -$51K-104.6% | $1.1M+265.4% | -$670K-134.9% | $1.9M+426.0% | $365K+115.6% | -$2.3M |
| Financing Cash Flow | $1.9M+132.0% | $838K-61.9% | $2.2M+230.3% | $666K-76.5% | $2.8M+3118.1% | -$94K+28.2% | -$131K-102.4% | $5.5M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
ONMD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -193.5% | -395.8% | 20.7% | -125.4% | -155.5% | -163.5% | -100.0%-40.8pp | -59.2% |
| Operating Margin | -774.3% | -2658.3% | -353.4% | -1262.7% | -1331.0% | -1623.4% | -10438.5% | -1645.1% |
| Net Margin | -743.8% | -2555.2% | -352.8% | -418.6% | 1923.9% | -1388.3% | -9126.9% | -1449.3% |
| Return on Assets | -159.2%+3.5pp | -162.8%-16.8pp | -146.0%-96.8pp | -49.2%-176.8pp | 127.6%+237.4pp | -109.8%-46.2pp | -63.7%-16.8pp | -46.9% |
| Current Ratio | 0.280.0x | 0.27-0.2x | 0.43+0.1x | 0.29-0.1x | 0.37+0.3x | 0.09-0.1x | 0.190.0x | 0.23 |
| FCF Margin | -645.2% | -1608.3% | -193.0% | -987.0% | -1414.2% | -1356.9% | -7811.5% | -1346.5% |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$3.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.43), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where OneMedNet Ranks
Frequently Asked Questions
What is OneMedNet's annual revenue?
OneMedNet (ONMD) reported $1.4M in total revenue for fiscal year 2025. This represents a 111.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is OneMedNet's revenue growing?
OneMedNet (ONMD) revenue grew by 111.4% year-over-year, from $643K to $1.4M in fiscal year 2025.
Is OneMedNet profitable?
No, OneMedNet (ONMD) reported a net income of -$2.8M in fiscal year 2025.
What is OneMedNet's EBITDA?
OneMedNet (ONMD) had EBITDA of -$9.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does OneMedNet have?
As of fiscal year 2025, OneMedNet (ONMD) had $585K in cash and equivalents against $220K in long-term debt.
What is OneMedNet's gross margin?
OneMedNet (ONMD) had a gross margin of -37.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is OneMedNet's free cash flow?
OneMedNet (ONMD) recorded an outflow of $7.5M in free cash flow during fiscal year 2025. This represents a -7.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is OneMedNet's operating cash flow?
OneMedNet (ONMD) recorded an outflow of $7.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are OneMedNet's total assets?
OneMedNet (ONMD) had $2.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are OneMedNet's capital expenditures?
OneMedNet (ONMD) invested $13K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does OneMedNet spend on research and development?
OneMedNet (ONMD) invested $1.5M in research and development during fiscal year 2025.
What is OneMedNet's current ratio?
OneMedNet (ONMD) had a current ratio of 0.43 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is OneMedNet's return on assets (ROA)?
OneMedNet (ONMD) had a return on assets of -130.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does OneMedNet's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, OneMedNet (ONMD) held $585K in cash, cash equivalents and investments, and reported an operating cash outflow of $7.5M over that year. Dividing the one by the other, the reported balance equals about 1 month of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is OneMedNet's debt-to-equity ratio negative or not reported?
OneMedNet (ONMD) has negative shareholder equity of -$3.0M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is OneMedNet's Altman Z-Score?
OneMedNet (ONMD) has an Altman Z-Score of -79.62, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is OneMedNet's Piotroski F-Score?
OneMedNet (ONMD) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are OneMedNet's earnings high quality?
OneMedNet (ONMD) reported a net loss of $2.8M while operations used $7.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can OneMedNet cover its interest payments?
OneMedNet (ONMD) reported an operating loss of $9.7M against $67K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is OneMedNet?
OneMedNet (ONMD) scores 12 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.