SRX Global Inc. (formerly SRx Health Solutions, Inc.) reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2026. The company generated net sales of $3.4 million for the quarter, a 27% increase from $2.7 million in the same period last year. For the nine months ending June 30, 2026, net sales reached $9.6 million, a substantial rise from $2.7 million in the prior year. The gross profit for the quarter was $0.9 million, translating to a gross margin of 27%, while the nine-month gross profit was $3.2 million, with a gross margin of 34%. Despite the increase in sales, the company reported a net loss of $4.1 million for the quarter, an improvement from a loss of $6.9 million in the previous year.
The filing highlighted a strategic shift following the acquisition of EMJ Crypto Technologies Inc. on June 16, 2026, which marked a transition from a focus on pet health and wellness to an AI-driven digital asset treasury management platform. This acquisition was valued at approximately $80 million, with the company issuing shares and warrants as part of the transaction. The company also reported a significant reduction in operating expenses, which fell by 52% to $4.1 million for the quarter, compared to $8.6 million in the prior year, reflecting a streamlined operational structure post-restructuring.
Operationally, SRX Global has seen a shift in its customer base, with a notable increase in digital sales channels. The company reported that two wholesale customers accounted for over 10% of total net sales, contributing $2.2 million in the latest quarter. The company’s inventory as of June 30, 2026, was valued at $2.6 million, up from $2.1 million at the end of the previous fiscal year. The company also reported a significant increase in cash and cash equivalents, which rose to $36.7 million from $1.3 million, bolstered by financing activities that generated $70.1 million in cash during the nine months.
Looking ahead, SRX Global aims to stabilize its operations and optimize its cost structure while exploring strategic alternatives for growth. The company is focused on enhancing its market position in the pet health and wellness sector while leveraging its new capabilities in digital asset management. Management expressed confidence in the company’s ability to navigate the challenges posed by the recent restructuring and to capitalize on emerging opportunities in both its legacy and new business segments. The company’s outlook remains cautious, with an emphasis on maintaining liquidity and operational efficiency as it transitions to its new business model.
About SRX Global Inc.
Better Choice Company Inc. is a pet health and wellness company offering premium and super-premium dog and cat products under the Halo brand, including kibble, canned food, freeze-dried raw food, treats, oral care products, and supplements. Its products emphasize natural, sustainably sourced ingredients and science-based nutrition. Serving diverse channels—e-commerce, brick-and-mortar, direct-to-consumer, and international markets—the company leverages co-manufacturing partnerships and multi-channel distribution to reach pet owners focused on health and quality.
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