SRx Health Solutions, Inc. reported a net sales figure of approximately $6.5 million for the fiscal year ending September 30, 2025, marking a significant shift from its previous operations, which primarily involved specialty pharmaceuticals and healthcare services. This revenue is attributed to the company's focus on the pet health and wellness sector, specifically through its Halo brand, which offers premium pet food and wellness products. The company’s gross profit for the year was approximately $1.5 million, resulting in a gross margin of 23%. However, SRx Health Solutions also reported a net loss of $8.6 million from continuing operations, reflecting the challenges of transitioning from its former business model.
The financial performance indicates a stark contrast to the previous fiscal period, as the company had no reported revenue in the prior year due to the winding down of its legacy operations. The restructuring process, which included the discontinuation of the SRx Canada operations and a focus on the Consumer Products segment, has led to a simplified organizational structure. The company is now concentrating on stabilizing its remaining operations and optimizing its cost structure to align with its new business model.
In terms of operational developments, SRx Health Solutions has made strategic decisions to exit certain retail partnerships, including Petco and Pet Supplies Plus, while enhancing its e-commerce presence through platforms like Amazon and Chewy. The company has also reported a significant reliance on a few key customers, with three customers accounting for 88% of its gross sales for the year. The company’s employee headcount stands at 11, reflecting a lean operational model post-restructuring.
Looking ahead, SRx Health Solutions aims to strengthen its financial position and explore strategic alternatives to support long-term viability, including potential partnerships and product expansion opportunities. The company is also focused on managing inflationary pressures that could impact its cost of goods sold and gross margins. Management believes that the streamlined business model provides a clearer path to operational stability and disciplined execution, although it acknowledges the ongoing risks associated with market conditions and competition in the pet health and wellness industry.
About SRx Health Solutions, 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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