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WOK

WORK Medical Technology Group Ltd.

WOK

WORK Medical Technology Group Ltd. • NASDAQ
$6.09 ▲ 17.34% (+0.90)
Market Cap $3.47 M
52w High $844.60
52w Low $2.79
Dividend Yield 0%
P/E -0.22
Volume 271.70K
Outstanding Shares 569.99K

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $4.544M ▼ $3.129M ▼ $13.156K ▲ 0.29% ▲ $0.001 ▲ $-1.235M ▲
Q4-2024 $6.197M ▲ $4.863M ▲ $-3.719M ▼ -60.007% ▼ $-0.28 ▼ $-2.852M ▼
Q2-2024 $5.309M ▲ $2.051M ▲ $226.526K ▲ 4.267% ▲ $0.018 ▲ $200.606K ▲
Q4-2023 $4.555M ▼ $1.763M ▼ $-1.364M ▼ -29.942% ▼ $-0.109 ▼ $-625.554K ▼
Q2-2023 $9.011M $1.894M $1.476M 16.376% $0.117 $2.706M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $1.996M ▼ $34.713M ▼ $18.996M ▼ $12.948M ▼
Q4-2024 $6.558M ▲ $36.251M ▲ $20.18M ▼ $13.186M ▲
Q2-2024 $1.039M ▼ $32.494M ▲ $21.159M ▲ $10.214M ▲
Q4-2023 $1.596M $29.959M $18.973M $9.876M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $13.156K ▲ $-5.594M ▼ $3.525M ▲ $-7.053M ▼ $2.396M ▲ $-3.036M ▲
Q4-2024 $-3.719M ▼ $-963.404K ▲ $-3.207M ▲ $9.1M ▲ $-1.081M ▼ $-10.16M ▼
Q2-2024 $226.526K ▲ $-1.265M ▼ $-5.857M ▼ $6.557M ▲ $0 $-1.293M ▼
Q4-2023 $-1.364M ▼ $1.49M ▲ $-60.816K ▲ $-641.612K ▼ $0 ▼ $1.574M ▲
Q2-2023 $1.427M $719.456K $-522.488K $-87.107K $863.861K $52.916K

Five-Year Company Overview

Income Statement

Income Statement The company is operating at a very small scale, with revenue that has shrunk notably from its pandemic-era levels and then flattened. Profitability looks fragile: earlier modest profits have given way to a recent loss, and margins appear extremely thin. This suggests a business that has not yet built enough scale or pricing power to absorb swings in demand, especially as the one-time boost from mask sales has faded.

Balance Sheet

Balance Sheet The balance sheet is light, with a small pool of assets and only a modest cash cushion. Debt is also modest in absolute terms, but it sits on top of a thin layer of equity, which leaves limited room for error. Overall, the company has a lean financial base, which keeps it flexible but also means it has fewer internal resources to fund ambitious growth or withstand prolonged setbacks. The later reverse share split signals an effort to tidy up its capital-market profile rather than a sign of underlying balance sheet strength.

Cash Flow

Cash Flow Cash generation from day-to-day operations has hovered around break-even, occasionally dipping slightly negative. Free cash flow has turned negative when the company invests, meaning it is not yet consistently funding its own growth. This pattern points to tight cash management and a reliance on external capital—such as the recent listing—to support investment and expansion plans.

Competitive Edge

Competitive Edge WORK Medical has a real, though narrow, foothold: it sells a wide range of disposable medical products, holds multiple patents, and has regulatory approvals across major markets, including the United States and Europe. Its products reach many regions in China and dozens of countries abroad, which is a meaningful distribution footprint for a company of its size. However, it still competes in a crowded, price-sensitive segment against much larger global players, and the post-pandemic drop in mask demand underlines its exposure to commoditized products. The regulatory approvals and partnerships give it some defensible advantages, but its overall competitive position remains that of a small, evolving player rather than an established giant.

Innovation and R&D

Innovation and R&D The company is clearly leaning into innovation. It has built a patent portfolio in its core consumables, partnered with a major hospital to work on AI-driven clinical tools, and is experimenting with blockchain-based asset tokenization. These moves could, in time, differentiate it from traditional disposables manufacturers and open up new revenue streams. At the same time, both AI healthcare platforms and Web3 tokenization are early-stage, high-uncertainty areas. The main risk is execution: turning these concepts into practical, regulated, and widely adopted products while the company still has limited financial resources.

Summary

WORK Medical is a very small healthcare manufacturer trying to reinvent itself. Its traditional consumables business now faces slower demand after the pandemic spike, and its recent financials show thin margins, inconsistent profitability, and tight cash flow. On the positive side, it has regulatory approvals in key markets, an international sales footprint, and a willingness to pursue advanced technologies through partnerships in AI and blockchain. The story is one of transformation: a company with modest current scale and financial strength, but an ambitious strategy. The key questions going forward are whether it can stabilize its core business, secure enough funding, and successfully commercialize its higher-tech initiatives without losing focus or overextending itself.

NEWS

November 4, 2025 · 9:00 AM UTC

WORK Medical Technology Group LTD's Subsidiary Retains a US$114,000 Service Contract from GemPharmatech Corporation

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October 21, 2025 · 9:00 AM UTC

WORK Medical Technology Group LTD Announces US$1 Million Equity Investment in Neologics Bioscience

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October 16, 2025 · 4:10 PM UTC

WORK Medical Technology Group LTD Announces 1-for-100 Reverse Stock Split Effective October 21, 2025

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October 14, 2025 · 4:10 PM UTC

WORK Medical Technology Group LTD Announces Receipt of Delisting Determination Letter from Nasdaq

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October 10, 2025 · 9:00 AM UTC

WORK Medical Technology Group LTD Granted Additional 180-Day Period to Regain Nasdaq Compliance

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