Wellgistics Health Inc (NASDAQ: WGRX) is a healthcare company that operates pharmacy distribution, retail pharmacy, and third-party logistics services. It generates revenue through pharmaceutical product distribution, prescription dispensing at retail, and logistics services for other healthcare entities. The company reported net revenues of $23,337,860 for the year ended December 31, 2025, up from $18,128,831 for the year ended December 31, 2024, with product revenue from distribution services comprising the largest segment at $21,868,748 in FY2025. Its subsidiary Wellgistics Pharmacy, headquartered in Tampa, Florida, purchases pharmaceuticals from manufacturers and wholesale distributors, fills prescriptions, and delivers medications to patients' homes or physicians' offices. The company also operates DelivMeds, a pharmacy network spanning all 50 states that provides prescription dispensing, patient care coordination, and clinical drug therapy management services. Wellgistics Health completed its initial public offering on February 24, 2025, raising approximately $3.12 million in net proceeds. The company posted a net loss of $101,274,530 for the year ended December 31, 2025, and has no current plans to pay cash dividends.

Revenue model

Transactional revenue across three reported streams: product revenue from pharmaceutical distribution services ($21,868,748 in FY2025), pharmacy retail sales ($865,695 in FY2025), and third-party logistics services ($603,417 in FY2025). The company also holds 340B dispensing relationships with healthcare facilities, which drive additional prescription volume.

Products and services

General and specialty pharmacy dispensing, pharmaceutical wholesale distribution, third-party logistics services, the DelivMeds hub pharmacy network for prescription dispensing across all 50 states, patient care coordination, clinical drug therapy management and medication therapy management (MTM) services, cash-based formulary pricing for uninsured and underinsured patients, and tele-pharmacy services in development.

Customers and end markets

Patients (including uninsured and underinsured populations served via cash-pay formulary), physicians and physician offices receiving delivered prescriptions, healthcare facilities served under 340B dispensing relationships, small- to medium-size employer groups, payers, and pharmaceutical manufacturers. End markets include retail pharmacy, specialty pharmacy, and pharmaceutical logistics.

Value-chain role

Wellgistics Health sits between pharmaceutical manufacturers and wholesale distributors on the supply side, and patients, physicians, and healthcare facilities on the demand side. It acts as a dispensing pharmacy, pharmaceutical distributor, and third-party logistics provider, with direct wholesale relationships enabling competitive drug procurement.

Geographic exposure

Primary operations headquartered in Tampa, Florida. DelivMeds pharmacy network spans all 50 U.S. states. No international operations referenced in the filing.

Source: SEC 10-K, filed 2026-03-20

Industry: Wholesale-Drugs, Proprietaries & Druggists' Sundries