0001493152-26-013681
SEC filingRevenue accelerated 111% to $1.4M from iRWD platform transition and customer growth, though gross losses widened and operating losses held steady near $9.7M amid scaling; net loss narrowed 72% to $2.8M with non-operating relief while cash burn persisted.
OneMedNet Corporation's FY2025 results reflect the strategic transition to a unified real-world data (iRWD) platform, driving revenue growth while exposing scaling challenges in costs and margins. Revenue increased to $1.4 million from $643 thousand in FY2024, a 111.4% rise, as the company expanded its customer base and elevated data delivery volumes through this platform shift, per management discussion.
Net income showed marked improvement to -$2.8 million from -$10.1 million (72.3% better), with diluted EPS advancing to -$0.06 from -$0.36 (83.3% improvement). This narrowing reflects non-operating factors providing relief atop core operational dynamics, though the business continues to report losses consistent with development-stage risks in iRWD services.
Cash flow from operations consumed -$7.5 million, edging worse from -$6.98 million in FY2024, culminating in free cash flow of -$7.5 million after minimal $13 thousand in capital expenditures (down from $51 thousand). Management notes principal liquidity sources as debt/equity financings and customer cash, with foreseeable needs encompassing recurring operations, infrastructure/workforce expansion capex, interest, and contracts. These dynamics underscore ongoing cash burn to fuel platform growth, reliant on external capital amid operating deficits. The trajectory positions OneMedNet to capitalize on iRWD momentum, tempered by cost discipline needs and liquidity management.