WORK Medical Technology Group Ltd

workmedtech.com

What Do They Do?

Manufactures and sells medical devices, including breathing equipment and masks, to medical institutions and distributors.

How Do They Make Money?

Customers buy the subsidiaries’ self-manufactured medical devices and masks; credit customers may have 30 to 180 days to pay, and sales are completed when products are delivered. Commodity trading also involves delivering products to customers.

revenue

Segment	Share	How money arrives
Medical Devices Other than Masks Sold outright	93% FY2022: 44%	Sold outright
Masks Sold outright	6.5% FY2022: 54%	Sold outright
Commodity Trading Sold outright	0.6% FY2022: 0.5%	Sold outright
Others	0.2% FY2022: 1.2%

Who Are Their Customers?

Hospitals, pharmacies and other medical institutions buy directly; domestic and export distributors buy products for resale to end users. Sales run through the subsidiaries’ sales team and distributor network.

Do Revenues Turn Into Profits?

Not on paper. It lost $1.1M in FY2025, but brought in more cash than it spent: $4.9M of free cash flow.

Operating income, FY2025

−25% of revenue

▼ −38% (Loss) vs FY2024 (−$4M, −35%)

Net income, FY2025

−11% of revenue

▼ −69% (Loss) vs FY2024 (−$3.5M, −30%)

Free cash flow, FY2025

50% of revenue

▲ Now profitable vs FY2024 (−$11.5M, −100%)

How Are They Changing?

Revenue over time

Medical Devices Other than Masks Masks Commodity Trading Others

$20M$10M$0

FY2022 FY2023 FY2024 FY2025

Financial Snapshot

Last updated: 10/27/2026

Size

Revenue: N/A
Net Income: N/A

Growth FY2025

Revenue Growth
EPS Growth

Profitability

Gross Margin: N/A
Operating Margin: N/A
Net Income Margin: N/A

Cash flow

Free Cash Flow: N/A

Balance sheet 2026 Q1

Cash: $3.254M
Debt to Equity

Valuation Today

Market Cap: $4.96M
P/E: N/A

Company Facts

Industry: Surgical & Medical Instruments & Apparatus
Incorporated
Headquarters

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