Wellgistics Health Reports 36% Revenue Growth in Q1 2025 as Manufacturer Access and Pharmacy Onboarding Accelerate

Rhea-AI Summary

Wellgistics Health (NASDAQ:WGRX) reported strong Q1 2025 financial results, with revenue reaching $10.86 million, representing a 36% year-over-year growth on a pro forma basis compared to $7.97 million in Q1 2024. The company demonstrated significant operational progress by registering 354 new pharmacies in the quarter, with approximately two-thirds already placing orders.

Under CEO Brian Norton's leadership, Wellgistics Health is expanding its manufacturer relationships, broadening its product portfolio, and enhancing its technology infrastructure, including the planned expansion of its Peek platform. The company is also developing new hub service capabilities to support its next growth phase. Chairman Suren Ajjarapu highlighted the company's strategic use of financial tools like ELOC to support growth initiatives.

Positive

• 36% year-over-year revenue growth to $10.86 million in Q1 2025
• Successfully onboarded 354 new pharmacies with ~66% already placing orders
• Expanding manufacturer relationships and product portfolio
• Strategic financial tools (ELOC) in place to support growth initiatives

Negative

• Company had zero revenue in comparable period last year on GAAP basis
• Potential dilution risk from ELOC (Equity Line of Credit) facility

Insights

Financial Analyst

Wellgistics Health showed strong 36% YoY revenue growth with promising operational metrics, though financial details remain limited.

Wellgistics Health has reported $10.86 million in Q1 2025 revenue, representing 36% year-over-year growth on a non-GAAP pro forma basis compared to $7.97 million in Q1 2024. This growth trajectory is particularly noteworthy as it comes during a period of significant corporate transformation following their recent IPO in March.

The company's operational metrics show promising momentum with 354 new pharmacy registrations in the quarter, with approximately 67% of these already converting to active customers. This rapid conversion rate indicates effective customer acquisition and onboarding processes, which are critical metrics for distribution businesses.

Notably absent from the release are details on profitability, margins, cash flow, or balance sheet metrics. The mention of an Equity Line of Credit (ELOC) suggests the company has secured financing options but is emphasizing disciplined capital deployment. Without profit figures, it's impossible to determine if the revenue growth is translating to improved bottom-line performance.

The reference to "clinical fulfillment capacity" and "pharmacy hub platform" points to infrastructure investments that could support scalability but may impact near-term margins. The emphasis on leadership changes and executive rebuilding indicates significant organizational transformation, which typically carries execution risks but appears to be driving positive initial results.

While the revenue growth is impressive, investors should remain cautious without more comprehensive financial metrics to evaluate the sustainability and profitability of this growth trajectory.

TAMPA, FL / ACCESS Newswire / May 12, 2025 / Wellgistics Health, Inc. (NASDAQ:WGRX, "Wellgistics Health"), a healthcare infrastructure and pharmaceutical distribution company leveraging proprietary technology, today announced financial results for its first fiscal quarter ended March 31, 2025.

Revenue for the Q1 2025 quarter increased to $10.86 million from zero during the comparable period last year on a GAAP basis. Had the Company acquired Wood Sage and Wellgistics LLC as of January 1, 2024, the $10.86 revenue figure of Q1 2025 would be compared to $7.97 million on a pro forma basis for the same period in 2024, representing approximately a 36% year-over-year increase on a non-GAAP basis.

"Our Q1 growth reflects the momentum we are building across every part of the business," said Brian Norton, CEO of Wellgistics Health. "We're expanding our manufacturer relationships, broadening our product portfolio, and registered 354 new pharmacies this quarter-nearly two-thirds of which have already placed at least one order. We're also laying the groundwork for the next phase of scale with new hub service capabilities and technology infrastructure, including the upcoming expansion of our Peek platform."

"Since the IPO in March, Brian has moved with speed and precision to reshape Wellgistics Health into a modern, execution-driven healthcare platform," said Suren Ajjarapu, Chairman of the Board. "He has rebuilt the executive team into one of the most capable leadership groups in the industry and supercharged every aspect of the business-from commercial operations to pharmacy expansion to manufacturer access. This quarter's results are an early indication of what's possible. While we have structured financial tools like the ELOC to support strategic acceleration, we are committed to deploying capital only when it directly fuels outsized growth and market share expansion."

Wellgistics Health expects continued momentum in Q2, supported by expanded clinical fulfillment capacity, new manufacturer integrations, and scaled deployment of its pharmacy hub platform.

About Wellgistics Health

Wellgistics Health, Inc. is a publicly traded healthcare infrastructure company redefining how medications move, are priced, and reach patients. The company operates across pharmaceutical distribution, prescription technology, and clinical fulfillment-connecting over 150 direct manufacturer contracts to a nationwide network of over 6,000 independent pharmacies.

Wellgistics Health provides real-time prescription hub services, compliance-driven logistics, and patient-first fulfillment solutions, while equipping pharmacies with integrated financial, clinical, and digital tools. Its end-to-end platform supports a broad range of therapeutic areas from specialty-lite to chronic maintenance medications by eliminating friction, accelerating reimbursements, and enabling direct, transparent connections between manufacturers, providers, pharmacies, and patients.

For more information, visit www.wellgisticshealth.com.

Forward-Looking Statements

This press release may contain forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When Wellgistics Health uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. These forward-looking statements include, without limitation, Wellgistics Health's statements regarding Wellgistics Health's strategy and descriptions of its future operations, prospects, and plans, including without limitation its plan in connection with certain financings and cryptocurrencies and outlook and actions with respect to incurring future expenses. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from Wellgistics Health's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other risks detailed in our reports and statements filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in Wellgistics Health's filings with the SEC, which are available for review at www.sec.gov.

Note on Non-GAAP Financial Measures

Certain of the information set forth herein, including revenue on a pro forma basis, may be considered financial measures that are not recognized under United States generally accepted accounting principles, or non-GAAP financial measures. These measures may not be comparable to similar measures presented by other companies. Wellgistics Health defines revenue on a pro forma basis to include revenues as adjusted based on the assumption that Wellgistics Health acquired its two direct subsidiaries, Wood Sage, LLC and Wellgistics, LLC, on January 1, 2024.

Wellgistics Health believes this financial information is useful to investors as a measure of profitability, because it helps us compare our performance on a consistent basis by removing from our operating results the impact of our capital structure, the effect of operating in different tax jurisdictions, the impact of our asset base, which can differ depending on the book value of assets and the accounting methods used to compute depreciation and amortization, and the cost of acquiring businesses and restructuring our operations. In addition, the company's management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating the company's operating performance and cash flow. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-GAAP financial measures as reported by the company may not be comparable to similarly titled amounts reported by other companies.

For more information, please contact:

Media Contact: media@wellgisticshealth.com
Investor Relations: investors@wellgisticshealth.com

SOURCE: Wellgistics Health, Inc.

View the original press release on ACCESS Newswire

FAQ

What was Wellgistics Health (WGRX) revenue growth in Q1 2025?

Wellgistics Health reported revenue of $10.86 million in Q1 2025, representing a 36% year-over-year growth on a pro forma basis compared to $7.97 million in Q1 2024.

How many new pharmacies did WGRX add in Q1 2025?

Wellgistics Health registered 354 new pharmacies in Q1 2025, with approximately two-thirds of them already placing at least one order.

What strategic initiatives is Wellgistics Health (WGRX) implementing for growth?

The company is expanding manufacturer relationships, broadening its product portfolio, developing new hub service capabilities, and enhancing technology infrastructure, including the planned expansion of its Peek platform.

How is WGRX funding its growth initiatives?

Wellgistics Health has structured financial tools like ELOC (Equity Line of Credit) to support strategic acceleration, which they plan to deploy only when it directly fuels outsized growth and market share expansion.