TRxADE HEALTH, Inc. (MEDS) Balance Sheet
MEDS balance sheet, 2025
December 31, 2025 · U.S. dollars$30.5M assets = $42.9M liabilities + −$12.4M equity
Liabilities exceed assets: shareholders’ equity is negative (−$12.4M).
Both columns are drawn to the same scale: what MEDS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MEDS financial health
Descriptive bands, not a rating. Fiscal 2025.
MEDS balance sheet trends, 2022–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $02022 | $30.5M2025 | — | |
| Total liabilities | $5,2502022 | $42.9M2025 | +1,914.3%/yr | |
| Shareholders’ equity | −$5,2502022 | −$12.4M2025 | — | |
| Cash & short-term investments | $02022 | $42,5712025 | — | |
| Total debt | $700,0002023 | $24.8M2025 | +494.8%/yr | |
| Net cash (debt) | −$698,6362023 | −$24.7M2025 | −$24.0M | |
| Working capital | −$5,2502022 | −$27.0M2025 | −$27.0M | |
| Book value per share | −$0.012022 | −$8.772025 | — | |
| Current ratio | 0.002022 | 0.092025 | +0.09 | |
| Shares outstanding | 945K2022 | 1.4M2025 | +14.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MEDS assets
MEDS liabilities and equity
MEDS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MEDS balance sheet
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Assets | ||||
| Cash & short-term investments | $42,571 | $1.0M | $1,364 | $0 |
| Cash & equivalents | $42,571 | $1.0M | $1,364 | $0 |
| Receivables | $1.1M | $3.7M | $337,000 | $0 |
| Inventory | $1.6M | $9.5M | $0 | $0 |
| Other current assets | $0 | $875,910 | $0 | $0 |
| Total current assets | $2.8M | $15.2M | $338,364 | $0 |
| Property, plant & equipment (net) | $1.2M | $1.9M | $0 | $0 |
| Goodwill & intangible assets | $24.5M | $38.6M | $0 | $0 |
| Long-term investments | $0 | $17,671 | $0 | $0 |
| Other non-current assets | $1.9M | $1.6M | $0 | $0 |
| Total assets | $30.5M | $57.3M | $338,364 | $0 |
| Liabilities | ||||
| Accounts payable | $11.7M | $6.3M | $1.0M | $5,250 |
| Short-term debt | $11.6M | $12.6M | $350,000 | — |
| Deferred revenue | $488,229 | $245,765 | — | — |
| Total current liabilities | $29.8M | $38.0M | $2.9M | $5,250 |
| Long-term debt | $12.6M | $11.5M | $350,000 | $0 |
| Lease obligations | $1.1M | $1.6M | $0 | — |
| Other long-term liabilities | $527,122 | $1.1M | $0 | $0 |
| Total liabilities | $42.9M | $50.6M | $3.2M | $5,250 |
| Shareholders' equity | ||||
| Common stock & paid-in capital | $10,131 | $5,105 | $4,472 | — |
| Retained earnings (deficit) | −$111.0M | −$9.8M | −$2.9M | −$5,250 |
| Total shareholders' equity | −$12.4M | $6.7M | −$2.9M | −$5,250 |
| Key figures | ||||
| Total debt | $24.8M | $25.1M | $700,000 | — |
| Net cash (debt) | −$24.7M | −$24.1M | −$698,636 | — |
| Working capital | −$27.0M | −$22.9M | −$2.6M | −$5,250 |
| Tangible book value | −$37.0M | −$31.8M | −$2.9M | −$5,250 |
| Book value per share | −$8.77 | $6.48 | — | −$0.01 |
| Shares outstanding | 1.4M | 1.0M | — | 945K |
| Current ratio | 0.09 | 0.40 | 0.12 | 0.00 |
| Quick ratio | 0.04 | 0.13 | 0.12 | 0.00 |
| Debt / equity | — | 3.73 | — | — |
| Equity / assets | −40.9% | 11.7% | −857.2% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | $2.5M | $51,730 | $42,571 | $4.2M | $419,942 | $2.5M | $1.0M | $793,148 | $2.1M | $917,140 | $1,364 |
| Cash & equivalents | $2.5M | $51,730 | $42,571 | $4.2M | $419,942 | $2.5M | $1.0M | $793,148 | $2.1M | $917,140 | $1,364 |
| Receivables | $1.2M | $992,147 | $1.1M | $1.1M | $4.0M | $4.0M | $3.7M | $3.3M | $1.6M | $2.1M | $337,000 |
| Inventory | $1.5M | $1.7M | $1.6M | $7.5M | $9.0M | $9.7M | $9.5M | $9.8M | $6.3M | $6.5M | $0 |
| Other current assets | $465,738 | $4,200 | $0 | $525 | $65,525 | $335,309 | $875,910 | $628,398 | $306,162 | $575,841 | $0 |
| Total current assets | $5.6M | $2.8M | $2.8M | $12.8M | $13.5M | $16.6M | $15.2M | $14.5M | $10.2M | $10.1M | $338,364 |
| Property, plant & equipment (net) | $893,524 | $1.0M | $1.2M | $1.3M | $1.6M | $1.8M | $1.9M | $2.0M | $2.1M | $1.8M | $0 |
| Goodwill & intangible assets | $23.9M | $24.2M | $24.5M | $34.7M | $37.5M | $38.1M | $38.6M | $38.1M | $31.3M | $22.6M | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $17,671 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $2.4M | $2.1M | $1.9M | $4.0M | $1.7M | $1.6M | $1.7M | $1.0M | $1.1M | $181,689 | $0 |
| Total assets | $32.8M | $30.1M | $30.5M | $52.8M | $54.2M | $58.1M | $57.3M | $55.6M | $44.7M | $34.7M | $338,364 |
| Liabilities | |||||||||||
| Accounts payable | $12.6M | $12.0M | $11.7M | $10.4M | $9.5M | $8.2M | $6.3M | $6.7M | $4.8M | $4.7M | $1.0M |
| Short-term debt | $19.8M | $15.9M | $11.6M | $12.9M | $13.9M | $18.4M | $12.6M | $9.5M | $5.6M | $5.5M | $350,000 |
| Deferred revenue | — | $26,000 | $488,229 | $56,000 | $245,765 | $245,766 | $245,765 | $598,495 | — | — | — |
| Total current liabilities | $39.4M | $32.2M | $29.8M | $32.7M | $42.4M | $46.2M | $38.0M | $33.0M | $17.2M | $14.0M | $2.9M |
| Long-term debt | $12.6M | $12.6M | $12.6M | $12.6M | $10.1M | $6.4M | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $816,219 | $959,020 | $1.1M | $1.2M | $1.4M | $1.5M | — | — | — | — | — |
| Other long-term liabilities | $249,840 | $391,272 | $527,122 | $660,486 | $816,218 | $959,019 | $12.6M | $12.6M | $28.5M | $20.7M | $350,000 |
| Total liabilities | $52.3M | $45.2M | $42.9M | $46.0M | $53.3M | $53.6M | $50.6M | $45.6M | $45.6M | $34.7M | $3.2M |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | $283 | $11,940 | $10,131 | $8,945 | $6,315 | $6,146 | $5,105 | $5,105 | — | — | $4,472 |
| Retained earnings (deficit) | −$137.1M | −$118.8M | −$111.0M | −$83.2M | −$48.9M | −$42.2M | −$9.8M | −$5.4M | −$11.4M | −$3.4M | −$2.9M |
| Total shareholders' equity | −$19.5M | −$15.1M | −$12.4M | $6.8M | $905,255 | $4.5M | $6.7M | $10.0M | −$967,126 | −$93 | −$2.9M |
| Key figures | |||||||||||
| Total debt | $32.6M | $28.9M | $24.8M | $26.2M | $24.9M | $25.7M | $25.1M | $22.1M | $23.2M | $18.5M | $700,000 |
| Net cash (debt) | −$30.2M | −$28.9M | −$24.7M | −$22.0M | −$24.4M | −$23.2M | −$24.1M | −$21.3M | −$21.2M | −$17.5M | −$698,636 |
| Working capital | −$33.8M | −$29.4M | −$27.0M | −$19.9M | −$28.9M | −$29.7M | −$22.9M | −$18.5M | −$6.9M | −$3.9M | −$2.6M |
| Tangible book value | −$43.4M | −$39.2M | −$37.0M | −$27.9M | −$36.6M | −$33.6M | −$31.8M | −$28.1M | −$32.2M | −$22.6M | −$2.9M |
| Book value per share | −$7.58 | −$7.20 | −$8.77 | $4.56 | $0.73 | $4.31 | $6.48 | $9.61 | −$0.93 | −$0.00 | −$3.10 |
| Shares outstanding | 2.6M | 2.1M | 1.4M | 1.5M | 1.2M | 1.0M | 1.0M | 1.0M | 1.0M | 977K | 936K |
| Current ratio | 0.14 | 0.09 | 0.09 | 0.39 | 0.32 | 0.36 | 0.40 | 0.44 | 0.60 | 0.72 | 0.12 |
| Quick ratio | 0.09 | 0.03 | 0.04 | 0.16 | 0.10 | 0.14 | 0.13 | 0.12 | 0.21 | 0.22 | 0.12 |
| Debt / equity | — | — | — | 3.87 | 27.47 | 5.75 | 3.73 | 2.21 | — | — | — |
| Equity / assets | −59.5% | −50.0% | −40.9% | 12.8% | 1.7% | 7.7% | 11.7% | 18.0% | −2.2% | −0.0% | −857.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 20, 2026); data from EODHD.
MEDS financial position
At the end of fiscal 2025 (December 31, 2025), TRxADE HEALTH had total assets of $30.5 million (down 46.9% from a year earlier), total liabilities of $42.9 million and shareholders' equity of -$12.4 million. It held $0.0 million in cash and short-term investments against $24.8 million of debt, net debt of $24.7 million. Its current ratio was 0.09. In the latest quarter (ended June 30, 2026) total assets were $32.8 million and equity -$19.5 million.
Related: MEDS income statement, MEDS cash flow statement, MEDS key metrics. See the MEDS stock overview for the latest quote and news.
MEDS balance sheet FAQ
What are TRxADE HEALTH's total assets?
TRxADE HEALTH reported total assets of $30.5 million at the end of fiscal 2025 (December 31, 2025), compared with $57.3 million a year earlier.
How much debt does TRxADE HEALTH have?
TRxADE HEALTH had $24.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does TRxADE HEALTH have?
TRxADE HEALTH held $0.0 million in cash and short-term investments at the end of fiscal 2025; with $24.8 million of debt that is net debt of $24.7 million.
What is TRxADE HEALTH's book value?
TRxADE HEALTH's shareholders' equity (book value) was -$12.4 million at the end of fiscal 2025, or −$8.77 per share.
What is TRxADE HEALTH's current ratio?
TRxADE HEALTH had current assets of $2.8 million and current liabilities of $29.8 million, a current ratio of 0.09 (current liabilities exceed current assets).
How much goodwill does TRxADE HEALTH have?
TRxADE HEALTH carried $24.5 million of goodwill and intangible assets, 80.5% of total assets, at the end of fiscal 2025.