ONMDHIGH SIGNALFINANCIAL10-K

ONMD underwent significant debt restructuring and equity financing that substantially reduced liabilities while diluting shareholders through a major share issuance.

The company's outstanding shares increased from 30.8 million to 52.2 million, representing substantial dilution for existing shareholders. However, this financing activity enabled ONMD to dramatically reduce its debt burden and current liabilities, improving its near-term liquidity position despite ongoing operating losses.

Comparing 2026-03-30 vs 2025-04-15View on EDGAR →
FINANCIAL ANALYSIS

ONMD's balance sheet shows a major financial restructuring with total debt declining 90.5% to $220K and current liabilities falling 74.9% to $4.8M, suggesting successful debt reduction or conversion. The company's losses narrowed meaningfully with net income improving from -$10.1M to -$2.8M, though gross profit remained negative and interest expense increased substantially. Overall, the financial picture indicates a company that has addressed immediate liquidity concerns through dilutive financing but continues to struggle with operational profitability.

FINANCIAL STATEMENT CHANGES
Total Debt
Balance Sheet
-90.5%
$2.3M→$220K

Debt reduced 90.5% — deleveraging strengthens balance sheet and reduces financial risk.

Interest Expense
P&L
+85.8%
$403K→$749K

Interest expense surged 85.8% — significant debt increase or rising rates materially impacting earnings.

Stockholders Equity
Balance Sheet
+81.4%
-$15.9M→-$3.0M

Equity base grew 81.4% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Gross Profit
P&L
-79%
-$281K→-$503K

Gross margin compression — rising input costs, pricing pressure, or unfavorable product mix shift.

Current Liabilities
Balance Sheet
-74.9%
$19.2M→$4.8M

Current liabilities reduced — improved short-term financial position and working capital health.

Capital Expenditure
Cash Flow
-74.5%
$51K→$13K

Capex reduced 74.5% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Total Liabilities
Balance Sheet
-74%
$19.7M→$5.1M

Liabilities reduced 74% — deleveraging improves balance sheet strength and financial flexibility.

Net Income
P&L
+72.3%
-$10.1M→-$2.8M

Net income grew 72.3% — bottom-line growth signals improving overall business health.

Total Assets
Balance Sheet
-42.3%
$3.7M→$2.2M

Total assets contracted 42.3% — asset sales, write-downs, or balance sheet optimization underway.

Current Assets
Balance Sheet
-42.1%
$3.6M→$2.1M

Current assets declined 42.1% — monitor working capital adequacy and short-term liquidity.

LANGUAGE CHANGES
NEW — 2026-03-30
PRIOR — 2025-04-15
ADDED
As of March 27, 2026, there were there were 52,196,729 shares of common stock, par value $0.0001 per share, issued and outstanding, and 0 shares of preferred stock, par value $0.0001 per share, of the registrant issued and outstanding.
These additional sources include the internet of things, social media forums and blogs.
Real World Evidence can be used to make clinical trials more effective and efficient, for example in patient recruitment or label extension.
Real World Evidence gathered from other studies or from currently marketed products in a similar category, for example, can have a positive effect on the product portfolio by exposing positive side effects as new potential indications.
12 Recent Developments Private Placements June 2025 Financing On June 19, 2025, we entered into a securities purchase agreement with James Sixsmith ( Mr.
Sixsmith ), pursuant to which we agreed to issue and sell to Mr.
Sixsmith 3,390,923 shares of our Common Stock at a price of $0.42 per share and pre-funded warrants exercisable for 2,561,457 shares of our Common Stock at an exercise price of $0.42 per share.
We received net proceeds of $2.5 million from the June 2025 private placement, after deducting an immaterial amount of offering expenses.
Subscription Agreements Related Parties On June 20, 2025, we entered into subscription agreements with Dr.
Jeffrey Yu, pursuant to which we agreed to issue 1,190,476 and 1,666,667 shares of our Common Stock, respectively, at a price of $0.42 per share.
REMOVED
As of March 26, 2025, there were there were 30,760,576 shares of common stock, par value $0.0001 per share, issued and outstanding, and 0 shares of preferred stock, par value $0.0001 per share, of the registrant issued and outstanding.
These additional sources include the internet of things ( IoT ), social media forums and blogs.
Real World Evidence can be used to make clinical trials more effective and efficient, for example in patient recruitment or label extension, Real World Evidence gathered from other studies or from currently marketed products in a similar category, for example, can have a positive effect on the product portfolio by exposing positive side effects as new potential indications.
Recent Developments Closing of Business Combination On November 7, 2023, following the approval of the Merger Agreement and the transactions contemplated thereby at the special meeting of the shareholders of Data Knights held on October 17, 2023 (the Special Meeting ), Merger Sub merged with and into Legacy ONMD pursuant to the Merger Agreement (the Merger ), with Legacy ONMD surviving the Merger as a wholly-owned subsidiary of Data Knights.
Following Closing, Data Knights changed its name to OneMedNet Corporation.
The Business Combination was accounted for as a reverse recapitalization in accordance with U.S.
Under this method of accounting, Data Knights was treated as the acquired company and Legacy ONMD was treated as the acquirer for financial statement reporting purposes.
Standby Equity Purchase Agreement On June 17, 2024, we entered into a Standby Equity Purchase Agreement, or the SEPA, with Yorkville.
Under the SEPA, we have the right to sell to Yorkville up to $25.0 million of our common stock, subject to certain limitations and conditions set forth in the SEPA, from time to time, over a 24-month period.
Sales of our common stock to Yorkville under the SEPA, and the timing of any such sales, are at our option, and we are under no obligation to sell any shares of our common stock to Yorkville under the SEPA except in connection with notices that may be submitted by Yorkville, in certain circumstances as described below.
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