First Choice Healthcare Solutions Reports $2M Net Loss, Revenue Declines 46% in First Half of 2025

First Choice Healthcare Solutions, Inc. reported a net loss of $2,037,329 for the six months ended June 30, 2025, a 34% decrease from the $3,067,704 loss recorded in the same period of the previous year. The reduction in net loss was primarily attributed to a significant decrease in interest expenses, which fell to $1,301,429 from $2,096,033. However, total revenue for the first half of 2025 was $5,456, a 46% decline from $10,154 in the prior year, driven by the elimination of service offerings at the company's Melbourne, Florida location.

Operating expenses increased to $1,164,328 for the six months ended June 30, 2025, compared to $985,975 in the same period of 2024. This rise was largely due to higher salaries and benefits, which totaled $255,241, and increased general and administrative expenses, which reached $368,146, up from $204,997. The increase in general and administrative costs was primarily linked to additional rent expenses associated with new leases in Minnesota.

As of June 30, 2025, First Choice Healthcare Solutions had total assets of $4,222,595, down from $4,511,002 at the end of 2024. Current assets also saw a decline, totaling $15,913 compared to $92,185 at the end of the previous fiscal year. The company's cash reserves decreased significantly to $6,454 from $19,915, while accounts payable and accrued expenses rose to $10,339,589 from $8,634,991. The total liabilities increased to $38,778,384, up from $36,982,542, reflecting ongoing financial challenges.

The company continues to pursue a defined growth strategy aimed at building a network of integrated healthcare services, including nurse practitioner-driven primary care clinics. However, the filing indicates that the company faces significant operational challenges, including the need to negotiate favorable contract rates with third-party payors and repair relationships damaged by past leadership issues. The management has acknowledged that the ability to continue as a going concern is contingent upon successfully executing its business development plan, which may require raising additional capital.

Looking ahead, First Choice Healthcare Solutions is focused on improving its revenue base and reducing operating costs. The company may need to explore various funding options, including public or private equity offerings and debt financing, to support its operations and growth initiatives. The management remains optimistic about the potential for future profitability but recognizes the inherent risks and uncertainties associated with its strategic objectives.