$SRXH

SRX Global Inc.

CIK:0001471727|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Income Statement [Abstract]

Net sales

^[1]

$ 3,392

$ 2,673

$ 9,638

$ 2,673

Cost of goods sold

2,488

2,642

6,405

2,642

Gross profit

904

3,233

Operating expenses:

Selling, general and administrative

4,105

8,637

12,042

8,637

Loss from continuing operations

(3,201)

(8,606)

(8,809)

(8,606)

Other expense (income):

Interest expense, net

569

(30)

3,637

(30)

Loss/(Gain) on extinguishment of debt

(469)

2,588

Change in fair value of digital assets

1,410

4,768

Change in fair value of equity securities

(12)

481

Change in fair value of derivative liabilities

(578)

(1,170)

Bargain purchase gain

(1,693)

Other income, net

(19)

(16)

Total other expense, net

939

(1,755)

10,320

(1,755)

Net loss before income taxes

(4,140)

(6,851)

(19,129)

(6,851)

Income tax expense

Net loss from continuing operations

(4,140)

(6,851)

(19,135)

(6,851)

Loss from discontinued operations

(8,282)

(22,894)

Net loss

$ (4,140)

$ (15,133)

$ (19,135)

$ (29,745)

Weighted average number of shares outstanding, basic

11,420,008

340,019

5,629,712

322,245

Weighted average number of shares outstanding, diluted

11,420,008

340,019

5,629,712

322,245

Loss per share, basic

$ (0.36)

$ (44.51)

$ (3.40)

$ (92.31)

Loss per share, diluted

$ (0.36)

$ (44.51)

$ (3.40)

$ (92.31)

[1]

Prior period amounts have been presented only for Better Choice Company, Inc., as the prior year operations of SRX Canada have been deconsolidated and are presented as discontinued operations. Accordingly, the results for the three and nine months ended June 30, 2026 and June 30, 2025, reflect only the continuing operations of BTTR and Halo and are not comparable to prior periods.

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Sep. 30, 2025
Cash Flow from Operating Activities:
Net loss				$ (19,135)	$ (6,851)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization				(46)	309
Non-cash fixed assets adjustment				75
Bargain purchase gain			$ (1,693)		(1,693)
Gain on disposal of assets, net				(13)
Share-based compensation				961	2,032
Debt discount amortization				3,320
Equity offering-related parties					3,342
Bad debt expense				(39)
Income tax provision				6
Change in fair value of digital assets	1,410			4,768
Change in fair value of equity securities				481
Change in fair value of derivative liabilities	(578)			(1,170)
Loss on settlement of debt	(469)	$ 3,100		2,588
Other				(1)	2
Changes in operating assets and liabilities:
Accounts receivable, net				355	460
Inventories, net				(533)	624
Prepaid expenses and other assets				(1,417)	(773)
Accounts payable				(870)	(594)
Accrued liabilities				165	1,369
Cash Used in Operating Activities				(10,505)	(1,773)
Cash Flow from Investing Activities:
Acquisition of EMJX				(306)
Short-term investments, net				(7,502)
Purchase of digital assets				(16,468)
Proceeds from sale of digital assets				9,580
Purchase of equity securities				(5,240)
Proceeds from sale of equities and option contracts (active trades)				159,200
Purchases of equities and option contracts (active trades)				(158,575)
Purchase of convertible note receivable				(6,377)
Cash paid to SRx Canada					(3,400)
Proceeds from sale of convertible note receivable				1,500
Cash Used in Investing Activities				(24,188)	(3,400)
Cash Flow from Financing Activities:
Proceeds from issuance of common stock				80,335
Proceeds from issuance of convertible preferred stock				13,440
Redemption of Series A convertible preferred stock				(21,773)
Repayment of convertible debt				(1,623)
Cash paid for financing costs				(625)
Proceeds from warrant exercises				323
Repurchase of common stock				(7)
Proceeds from short-term borrowings					550
Proceeds from Wintrust facility					859
Payments on Wintrust facility					(1,662)
Proceeds from PIPE					8,800
PIPE out					(8,800)
Payments for share repurchase					(137)
Cash Provided by (Used in) Financing Activities				70,070	(390)
Net cash provided by (used in) continuing operations				35,377	(5,563)
Net cash provided by discontinued operations					6,253
Net increase in cash and cash equivalents				35,377	690
Effect of foreign currency translation adjustments					116
Total cash and cash equivalents, beginning of period		$ 1,309		1,309	106	$ 106
Total cash and cash equivalents, end of period	$ 36,686		$ 912	36,686	912	$ 1,309
Supplemental schedule of cash flow information:
Cash paid for interest
Disclosure of non-cash financing activities:
Convertible note settled via reduction in equity consideration					$ 1,705

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Sep. 30, 2025
Current Assets
Cash and cash equivalents	$ 35,186	$ 1,309
Restricted cash	1,500
Short-term investments	7,502
Accounts receivable, net	3,629	3,945
Inventories, net	2,611	2,078
Notes receivable	4,940
Digital assets	2,120
Investment in equity securities	5,500
Prepaid expenses and other current assets	2,254	794
Total Current Assets	65,242	8,126
Fixed assets, net	9	88
Intangible assets, net	79,981
Right-of-use assets, operating leases		20
Other assets	125	168
Total Assets	145,357	8,402
Current Liabilities
Accounts payable	1,277	2,147
Accrued liabilities	1,091	1,375
Operating lease liability, short-term		21
Total Current Liabilities	2,368	3,543
Convertible debt, long-term		4,452
Total Liabilities	2,368	7,995
Stockholders’ Equity
Common Stock, $0.001 par value, 5,000,000,000 shares authorized, 19,517,637 & 416,542 shares issued and outstanding as of June 30, 2026, and September 30, 2025, respectively	1,174	31
Preferred Stock, $0.001 par value, 4,000,000 shares authorized, 5,660 & zero shares issued and outstanding as of June 30, 2026 and September 30, 2025, respectively
Additional paid-in capital, common stock	180,717	23,304
Additional paid-in capital, preferred stock	3,161
Accumulated deficit	(42,063)	(22,928)
Total Stockholders’ Equity	142,989	407
Total Liabilities and Stockholders’ Equity	$ 145,357	$ 8,402