Quarterly ResultMay 15, 2026, 04:28 PM
OneMedNet Q1 Net Loss $2.5M; Going Concern Doubt Raised
AI Summary
OneMedNet Corp reported a net loss of $2.5 million for the first quarter of 2026, an increase from $1.9 million in the prior year, while total revenue decreased to $96,000. The company's cash balance of $233,000 as of March 31, 2026, is deemed inadequate to fund operations for the next twelve months, leading management to raise substantial doubt about its ability to continue as a going concern. OneMedNet plans to secure additional working capital through equity or debt offerings to support its operations.
Key Highlights
- Q1 2026 net loss increased to $2.5 million from $1.9 million year-over-year.
- Total revenue for Q1 2026 decreased to $96,000 from $137,000 year-over-year.
- Cash and cash equivalents stood at $233,000 as of March 31, 2026.
- Accumulated deficit reached $106.8 million as of March 31, 2026.
- Management raised substantial doubt about the company's ability to continue as a going concern.
- Company plans to raise additional capital through equity or debt offerings.
- Net cash used in operating activities was $1.5 million for Q1 2026.
- Received $0.5 million from SEPA and $0.5 million from a related party subscription.
Price Impact
More from ONMD