SCWorx (WORX)
Market Price (10/29/2026): $1.73 | Market Cap: $2.4 MilSector: Health Care | Industry: Health Care Technology
SCWorx (WORX)
Market Price (10/29/2026): $1.73Market Cap: $2.4 MilSector: Health CareIndustry: Health Care Technology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -741% | Weak multi-year price returns2Y Excs Rtn is -133%, 3Y Excs Rtn is -183% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 17% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -0.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -20% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -9.5% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -30% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 447% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1388% High stock price volatilityVol 12M is 286% Key risksWORX key risks include [1] substantial doubt about its ability to continue as a going concern due to recurring losses, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -741% |
| Weak multi-year price returns2Y Excs Rtn is -133%, 3Y Excs Rtn is -183% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 17% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -0.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -20% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -9.5% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -30% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 447% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1388% |
| High stock price volatilityVol 12M is 286% |
| Key risksWORX key risks include [1] substantial doubt about its ability to continue as a going concern due to recurring losses, Show more. |
Qualitative Assessment
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SCWorx (WORX) stock has lost about 55% since 6/30/2026 because of the following key factors:
1. Heavy Selling Pressure Post-Nasdaq Relisting.
SCWorx experienced significant selling pressure immediately following the reinstatement of its common stock trading on the Nasdaq Capital Market on October 7, 2026, after facing a delisting decision on September 17, 2026, which was reconsidered on October 2, 2026. Instead of a rally, shares dropped 11.2% into October 6's close, and then plunged an additional 17% in premarket trading. On October 7, 2026, the stock closed down 20.69% at $5.75, without a confirmed company-specific catalyst. This pattern continued, with shares falling sharply from a recent close of $7.25 on October 6, 2026, to $1.795 by October 16, 2026, indicating a lack of market confidence.
2. Significant Dilution Risk from Warrant Offerings and Low Share Count.
The company's financing activities and share structure created substantial dilution concerns for investors. SCWorx raised approximately $938,000 through a private equity financing by selling 350,000 common shares and five-year warrants, with the proceeds held in a segregated account contingent on Nasdaq relisting by late October 2026. More critically, a resale registration filed on October 16, 2026, covered approximately 13.1 million shares, vastly exceeding the 742,099 common shares outstanding as of October 9, 2026. This large number of shares registered for resale, or the perception that such sales could occur, posed a "core dilution risk" and had the potential to depress the stock's market price. The exercise of these warrants would further dilute existing stockholders, and SCWorx would not receive proceeds from the resale of these shares, only if warrants were exercised for cash (up to $20.1 million).
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SCWorx (WORX) stock has lost about 55% since 6/30/2026 because of the following key factors:
1. Heavy Selling Pressure Post-Nasdaq Relisting.
SCWorx experienced significant selling pressure immediately following the reinstatement of its common stock trading on the Nasdaq Capital Market on October 7, 2026, after facing a delisting decision on September 17, 2026, which was reconsidered on October 2, 2026. Instead of a rally, shares dropped 11.2% into October 6's close, and then plunged an additional 17% in premarket trading. On October 7, 2026, the stock closed down 20.69% at $5.75, without a confirmed company-specific catalyst. This pattern continued, with shares falling sharply from a recent close of $7.25 on October 6, 2026, to $1.795 by October 16, 2026, indicating a lack of market confidence.
2. Significant Dilution Risk from Warrant Offerings and Low Share Count.
The company's financing activities and share structure created substantial dilution concerns for investors. SCWorx raised approximately $938,000 through a private equity financing by selling 350,000 common shares and five-year warrants, with the proceeds held in a segregated account contingent on Nasdaq relisting by late October 2026. More critically, a resale registration filed on October 16, 2026, covered approximately 13.1 million shares, vastly exceeding the 742,099 common shares outstanding as of October 9, 2026. This large number of shares registered for resale, or the perception that such sales could occur, posed a "core dilution risk" and had the potential to depress the stock's market price. The exercise of these warrants would further dilute existing stockholders, and SCWorx would not receive proceeds from the resale of these shares, only if warrants were exercised for cash (up to $20.1 million).
3. Persistent Unprofitability and Weak Financial Performance.
Despite some operational improvements, SCWorx remains deeply unprofitable. For fiscal Q2 2026 (ended June 30, 2026), the company reported revenue of approximately $706,000, a slight increase from $683,000 in fiscal Q2 2025. While gross profit for Q2 2026 increased by approximately 83% to $330,000, and the net loss narrowed to about $121,000 (from $1.9 million in Q2 2025), the company is still described as "deeply unprofitable" with a profit margin near -143% and a return on equity of approximately -66%. The fiscal year 2025 showed a net income of -$4.4 million on $2.9 million in revenue, highlighting a continued struggle for profitability.
4. High Volatility Driven by Low Float and Negative Market Sentiment.
SCWorx is characterized by a small public float and limited daily trading volume, making its stock highly susceptible to dramatic price swings from relatively modest trading activity. Several significant declines in October, including drops of 20.69% and 31.34%, occurred without specific company-announced catalysts and were attributed to "low-float selling episodes." This company-specific volatility was exacerbated by broader macroeconomic factors, as the Nasdaq Composite experienced an "extended technology, AI and semiconductor selloff," contributing to a general retreat from speculative small-cap stocks during a period where the "Fear & Greed Index fell to 30," signaling investor fear. Analyst sentiment also reflects this caution, with a consensus "Sell" rating for the stock.
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Stock Movement Drivers
Fundamental Drivers
The -54.5% change in WORX stock from 6/30/2026 to 10/28/2026 was primarily driven by a -54.5% change in the company's P/S Multiple.| (LTM values as of) | 6302026 | 10282026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.20 | 1.91 | -54.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3 | 3 | 0.8% |
| P/S Multiple | 0.1 | 0.1 | -54.5% |
| Shares Outstanding (Mil) | 0 | 0 | -1.0% |
| Cumulative Contribution | -54.5% |
Market Drivers
6/30/2026 to 10/28/2026| Return | Correlation | |
|---|---|---|
| WORX | -54.5% | |
| Market (SPY) | 3.4% | 8.8% |
| Sector (XLV) | 13.3% | -2.8% |
Fundamental Drivers
The -91.6% change in WORX stock from 3/31/2026 to 10/28/2026 was primarily driven by a -91.6% change in the company's P/S Multiple.| (LTM values as of) | 3312026 | 10282026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.64 | 1.91 | -91.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3 | 3 | 1.7% |
| P/S Multiple | 0.7 | 0.1 | -91.6% |
| Shares Outstanding (Mil) | 0 | 0 | -1.5% |
| Cumulative Contribution | -91.6% |
Market Drivers
3/31/2026 to 10/28/2026| Return | Correlation | |
|---|---|---|
| WORX | -91.6% | |
| Market (SPY) | 19.1% | -7.7% |
| Sector (XLV) | 23.1% | -1.8% |
Fundamental Drivers
The -96.3% change in WORX stock from 9/30/2025 to 10/28/2026 was primarily driven by a -86.3% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 10282026 | Change |
|---|---|---|---|
| Stock Price ($) | 52.20 | 1.91 | -96.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3 | 3 | 3.1% |
| P/S Multiple | 0.4 | 0.1 | -86.3% |
| Shares Outstanding (Mil) | 0 | 0 | -74.0% |
| Cumulative Contribution | -96.3% |
Market Drivers
9/30/2025 to 10/28/2026| Return | Correlation | |
|---|---|---|
| WORX | -96.3% | |
| Market (SPY) | 16.9% | -2.4% |
| Sector (XLV) | 30.8% | 2.3% |
Fundamental Drivers
The -99.6% change in WORX stock from 9/30/2023 to 10/28/2026 was primarily driven by a -94.3% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 9302023 | 10282026 | Change |
|---|---|---|---|
| Stock Price ($) | 541.62 | 1.91 | -99.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4 | 3 | -26.9% |
| P/S Multiple | 0.7 | 0.1 | -91.6% |
| Shares Outstanding (Mil) | 0 | 0 | -94.3% |
| Cumulative Contribution | -99.6% |
Market Drivers
9/30/2023 to 10/28/2026| Return | Correlation | |
|---|---|---|
| WORX | -99.6% | |
| Market (SPY) | 86.9% | 8.7% |
| Sector (XLV) | 46.2% | 8.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| WORX Return | -4% | -69% | -69% | -8% | -89% | -94% | -100% |
| Peers Return | 9% | -14% | -25% | 3% | -4% | -12% | -38% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| WORX Win Rate | 33% | 25% | 42% | 33% | 8% | 30% | |
| Peers Win Rate | 44% | 38% | 46% | 47% | 45% | 46% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| WORX Max Drawdown | -69% | -72% | -83% | -77% | -91% | -98% | |
| Peers Max Drawdown | -22% | -56% | -54% | -36% | -47% | -41% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: OMCL, MDRX, BEAT, VEEV, SOLV.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/28/2026 (YTD)
How Low Can It Go
| Event | WORX | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -36.8% | -7.8% |
| % Gain to Breakeven | 58.2% | 8.5% |
| Time to Breakeven | 100 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -55.7% | -9.5% |
| % Gain to Breakeven | 125.9% | 10.5% |
| Time to Breakeven | 142 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -52.1% | -6.7% |
| % Gain to Breakeven | 108.6% | 7.1% |
| Time to Breakeven | 10 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -38.2% | -33.7% |
| % Gain to Breakeven | 61.9% | 50.9% |
| Time to Breakeven | 28 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -40.0% | -19.2% |
| % Gain to Breakeven | 66.8% | 23.8% |
| Time to Breakeven | 30 days | 105 days |
In The Past
SCWorx's stock fell -36.8% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 58.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | WORX | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -36.8% | -7.8% |
| % Gain to Breakeven | 58.2% | 8.5% |
| Time to Breakeven | 100 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -55.7% | -9.5% |
| % Gain to Breakeven | 125.9% | 10.5% |
| Time to Breakeven | 142 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -52.1% | -6.7% |
| % Gain to Breakeven | 108.6% | 7.1% |
| Time to Breakeven | 10 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -38.2% | -33.7% |
| % Gain to Breakeven | 61.9% | 50.9% |
| Time to Breakeven | 28 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -40.0% | -19.2% |
| % Gain to Breakeven | 66.8% | 23.8% |
| Time to Breakeven | 30 days | 105 days |
In The Past
SCWorx's stock fell -36.8% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 58.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About SCWorx (WORX)
SCWorx Corp. (WORX) primarily offers software solutions and services designed to help healthcare providers, such as hospitals and health systems, manage their foundational business applications. The company specializes in repairing, standardizing, and integrating information, along with providing big data analytics through a web portal for reporting and analysis of healthcare data. This core focus aims to improve the operational efficiency and data integrity within healthcare organizations.
SCWorx provides a range of specific healthcare IT solutions including virtualized item master file repair, expansion, and automation; electronic medical record management; and charge description master management (CDM) which integrates crucial data into hospital purchasing systems. Other offerings encompass contract management, request for proposal automation, rebate management, and ScanWorx, a mobile perioperative closed-loop scanning solution. These services, focused on data integration and warehousing, are sold to hospitals and health systems primarily through distribution and reseller partnerships.
Beyond its core healthcare IT offerings, SCWorx has also diversified into other markets. The company operates CageTix, a ticketing platform specifically for the mixed martial arts (MMA) industry. Additionally, SCWorx has been involved in selling rapid test kits for COVID-19 and personal protective equipment (PPE), indicating a readiness to address immediate market needs.
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Here are 1-3 brief analogies for SCWorx (WORX):
- SCWorx is like SAP for hospital back-office operations and data management.
- SCWorx is like ServiceNow for healthcare workflow automation and data integration.
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- Healthcare Data Management Software Solutions: Provides software for managing healthcare providers' foundational business applications, including data repair, normalization, interoperability, and analytics.
- Virtualized Item Master File Management: Offers solutions for repairing, expanding, and automating virtualized item master files for healthcare providers.
- Electronic Medical Record (EMR) Management: A module that integrates advanced data attributes into electronic medical records.
- Charge Description Master (CDM) Management: A module assisting healthcare providers by integrating CDM data into hospital purchasing systems' workflows.
- Healthcare Contract Management: Helps healthcare providers establish and manage their contract systems.
- Request for Proposal (RFP) Automation: Provides a solution for automating the request for proposal process.
- Rebate Management: Offers services for managing rebates for healthcare entities.
- ScanWorx: A mobile perioperative closed-loop scanning solution for healthcare.
- Data Integration and Warehousing: Solutions for integrating and warehousing data for healthcare providers.
- Acquired Business Integration Solutions: Enables deployment of virtual item master files for integrating acquired healthcare businesses.
- CageTix: A ticketing platform specifically designed for the mixed martial arts industry.
- COVID-19 Rapid Test Kits: Sells rapid test kits for COVID-19 detection.
- Personal Protective Equipment (PPE): Offers various personal protective equipment.
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SCWorx (WORX) primarily sells its software solutions and services to other companies and organizations, rather than directly to individuals. Based on the provided company description, its major customer categories are:
- Healthcare providers, specifically hospitals and health systems, for its various software solutions related to managing foundational business applications, electronic medical records, charge description masters, contract management, and also for its rapid COVID-19 test kits and personal protective equipment.
- The mixed martial arts (MMA) industry, for its CageTix ticketing platform.
The company description does not list the names of specific customer companies or indicate if any of its customers are publicly traded entities. Therefore, individual customer names and their stock symbols cannot be provided based on the information given.
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Timothy A. Hannibal, President & CEO
Mr. Hannibal has served as SCWorx's President & CEO since January 2019. He is a seasoned technology executive and entrepreneur with nearly 30 years of experience in SaaS and cloud technology, focusing on driving revenue, go-to-market strategies, business development, and mergers and acquisitions. Prior to joining SCWorx, Mr. Hannibal was an employee at Primrose Solutions (the predecessor to SCWorx) starting in September 2016, where he oversaw marketing, sales, and operations. He also founded and served as President and CEO of VaultLogix for thirteen years. VaultLogix, a private equity-sponsored SaaS company in the cloud backup industry, was later acquired by J2 Global, a publicly traded technology company.
Christopher J. Kohler, Chief Financial Officer
Mr. Kohler serves as the Chief Financial Officer for SCWorx, a role he fulfills through his firm, Kohler Consulting, Inc.. He founded Kohler Consulting, Inc. in 2012, and the firm provides outsourced CFO and advisory services to private and public companies, with a particular focus on small-cap and start-up businesses. Mr. Kohler brings over 15 years of experience in the finance and accounting sectors.
Anders Ohlsson, Chief Technology Officer
Mr. Ohlsson was appointed Chief Technology Officer in September 2025. He possesses over 25 years of experience in software engineering, cloud infrastructure, and machine learning applications. Before joining SCWorx, he held senior leadership roles at WideOrbit, where he was instrumental in leading the development of scalable SaaS platforms and managing cross-functional teams to deliver enterprise-grade technology solutions.
Joel Meckley, Executive Vice President
Mr. Meckley became the President of SCWoRx, LLC in 2017 and subsequently transitioned to the role of Executive Vice President at SCWorx, Inc. in 2019. Earlier in his career, from 2000 to 2017, he held the position of Vice President of Enterprise Supply Chain Services at Geisinger.
Troy Kirchenbauer, Chairman
Mr. Kirchenbauer serves as the Chairman. He is a seasoned executive with over two decades of experience in the healthcare industry, specializing in driving digital transformation, product innovation, and data-driven decision-making. As Senior Vice President of Digital Supply Chain at Vizient, he played a key role in developing a digital ecosystem designed to enhance supply chain automation and provide advanced analytics solutions.
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The key risks to SCWorx Corp. (WORX) primarily revolve around its severe financial instability, the failure of its significant diversification into COVID-19 related products, and challenges in its core healthcare software business.
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Substantial Doubt About Going Concern and Financial Instability: SCWorx Corp. faces significant uncertainty regarding its ability to continue as a going concern. The company has a history of operating losses, a working capital deficit, and limited cash reserves. Despite raising additional capital, there is no guarantee it will generate sufficient revenue to achieve profitability and positive cash flow in the near future. The company has an Altman Z-Score of -5.8, which suggests an increased risk of bankruptcy.
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Failure of COVID-19 Related Product Business: Although the company's background describes a focus on selling rapid test kits for COVID-19 and personal protective equipment, this venture has largely failed to generate significant revenue. SCWorx has realized only a de-minimis amount of revenue from the sale of PPE and test kits and does not expect to generate any material revenue from these products. Furthermore, the company currently has no contracted supply of rapid test kits or PPE. This indicates a failed strategic pivot or diversification effort that has not contributed positively to its financial health.
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Declining Revenue, Customer Concentration, and Inability to Achieve Sustained Profitability: SCWorx has experienced declining revenue, primarily due to the expiration and non-renewal of certain customer contracts. The company also relies heavily on a small number of large customers, with the top three customers accounting for over 50% of its revenue, making it vulnerable to the loss of any single major client. This ongoing revenue decline and customer concentration contribute to its history of losses and negative cash flows, making it difficult to achieve or sustain profitability.
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The significant decline in global demand for COVID-19 rapid test kits and personal protective equipment as the pandemic recedes and public health measures are relaxed poses a clear emerging threat to SCWorx's stated focus on selling these products.
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Healthcare Software Solutions (U.S.)
- Healthcare IT Market: The U.S. healthcare IT market size was valued at approximately USD 160.52 billion in 2024 and is projected to reach around USD 566.48 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 13.44% from 2025 to 2034. Another report indicated the U.S. healthcare IT market was estimated at USD 166.83 billion in 2024 and is projected to grow at a CAGR of 15.46% from 2025 to 2030.
- Healthcare Supply Chain Management Market: The U.S. healthcare supply chain management market was valued at USD 723.37 million in 2023 and is anticipated to reach USD 2,056.09 million by 2032, at a CAGR of 12.3%. Another source reported the U.S. market generated a revenue of USD 738.6 million in 2023 and is expected to reach USD 1,367.9 million by 2030, with a CAGR of 9.2% from 2024 to 2030.
- Electronic Medical Records (EMR) Management Market: The U.S. Electronic Medical Records (EMR) market is estimated at approximately USD 33 billion in 2024, with projections to grow at a CAGR of 5-6% through 2030, reaching roughly USD 44-49 billion by 2032. Another report stated the U.S. EMR market size was estimated at USD 12.87 billion in 2024 and is projected to grow at a CAGR of 2.55% from 2025 to 2030. Additionally, the US EHR EMR market size was valued at USD 15 billion in 2025 and is projected to reach USD 170 billion in 2026.
- Charge Description Master (CDM) Management: While a specific market size for CDM management software is not readily available, the chargemaster is a critical component of hospital revenue management in the U.S., encompassing a comprehensive listing of all billable services. Hospitals average 11,000 chargemaster lines, and an accurate chargemaster is essential for preventing revenue loss and ensuring regulatory compliance.
- Healthcare Contract Management Software Market: The global healthcare contract management software market size was valued at USD 1.81 billion in 2024 and is projected to reach USD 9.68 billion by 2032, with a CAGR of 23.3% during the forecast period of 2025 to 2032. North America, specifically the U.S., dominates this market due to advanced healthcare IT infrastructure and stringent regulatory compliance.
Mixed Martial Arts (MMA) Ticketing Platform (Global)
- Mixed Martial Arts (MMA) Market: The global MMA market was valued at USD 1.5 billion in 2024 and is projected to grow at a CAGR of 12%, reaching USD 3.5 billion by 2030. Another report valued the global MMA market at USD 16.3 billion in 2023, projected to reach USD 25.01 billion by 2032, with a CAGR of 5.5%. Ticketing would be a sub-segment of this broader market.
Medical Supplies
- COVID-19 Rapid Test Kits: The global COVID-19 rapid diagnostic test market was estimated to be valued at USD 3,846.9 million in 2021 and was expected to exhibit a CAGR of 8.8% during the forecast period (2021-2028). The global coronavirus test kits market was valued at USD 15.33 billion in 2024 and is expected to reach USD 67.23 billion by 2032, growing at a CAGR of 20.30% from 2025 to 2032. The U.S. COVID-19 detection kits market accounted for 20.30% share in 2023.
- Personal Protective Equipment (PPE) (U.S.): The U.S. healthcare personal protective equipment market size was valued at USD 3.27 billion in 2022 and is expected to grow at a CAGR of 4.4% from 2023 to 2030, reaching USD 4.59 billion by 2030. Another source indicates the U.S. personal protective equipment market was valued at USD 15.6 billion in 2025 and estimated to grow from USD 17.36 billion in 2026 to reach USD 29.61 billion by 2031, at a CAGR of 11.28%. The global healthcare personal protective equipment market size was valued at USD 16.68 billion in 2025 and is projected to reach USD 25.69 billion by 2034, growing at a CAGR of 4.96%.
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Expected Drivers of Future Revenue Growth for SCWorx (WORX)
- Growth in Customer Base: SCWorx is expected to drive future revenue growth through the acquisition of new customers within the healthcare provider market. Recent announcements indicate new SaaS and data management customers, as well as new academic hospital clients.
- Expansion of Healthcare Data Management Network and Partnerships: The company's strategy includes expanding its healthcare data management network through new partnerships, which is a key pathway to increasing its reach and revenue.
- Increased Adoption of Software-as-a-Service (SaaS) Solutions: Revenue growth is anticipated from the continued adoption and utilization of SCWorx's advanced software solutions, which are offered as SaaS-based applications to healthcare providers for managing foundational business operations.
- Enhanced Data Integration and Analytics Offerings: Future revenue is expected to be driven by the company's ability to enhance and sell its core solutions related to the repair, normalization, and interoperability of information, as well as its big data analytics models that provide web portals for reporting and analysis within healthcare systems.
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Share Repurchases
- In August 2023, SCWorx announced a $5 million stock buyback agreement.
Share Issuance
- SCWorx experienced significant shareholder dilution, with total shares outstanding increasing by 751.1% over the past year.
- On November 19, 2024, the company completed an equity financing with institutional investors, selling 232,558 shares of common stock and warrants for aggregate gross proceeds of $200,000.
- An S-1 filing on January 8, 2026, detailed a 53.2 million share resale, contributing to substantial dilution.
Inbound Investments
- SCWorx raised $200,000 in gross proceeds from institutional investors through an equity financing deal completed on November 19, 2024.
- Between July 15, 2024, and January 17, 2025, the company issued an aggregate of $2,655,000 in senior secured convertible notes.
- Inducement agreements around October 2025 resulted in approximately $721,574 in gross proceeds from the exercise of warrants for up to 2,064,000 shares of common stock.
Outbound Investments
- In March 2020, SCWorx established Direct-Worx, LLC as a wholly-owned subsidiary.
Capital Expenditures
- SCWorx reported very low or negligible capital expenditures from 2021 through June 2025, with Property, Plant & Equipment values consistently near zero in its balance sheets for these periods.
Peer Outperformance in Health Care Technology
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 6 | 8.6% | 52.6% | 97.9% | CAH 468% · MCK 380% · COR 183% |
| Health Care Services | 20 | 40.1% | 49.1% | 16.2% | HIMS 271% · RDNT 137% · DGX 86% |
| Health Care Facilities | 25 | 1.3% | 24.8% | 0.5% | THC 274% · NHC 254% · EHC 152% |
| Managed Health Care | 8 | 26.0% | -1.0% | -4.3% | OSCR 78% · HQY 54% · ELV 3% |
| Health Care Equipment | 50 | -3.3% | 13.8% | -18.1% | UFPT 358% · GKOS 297% · PLSE 160% |
| Pharmaceuticals | 61 | -16.2% | 9.8% | -32.5% | LQDA 1113% · KNSA 770% · LLY 432% |
| Health Care Supplies | 11 | 19.3% | 1.8% | -38.4% | LNTH 337% · HAE 76% · MMSI 36% |
| Life Sciences Tools & Services | 107 | -7.5% | 8.2% | -65.2% | NTRA 262% · AXGN 226% · MEDP 215% |
| Biotechnology | 365 | -22.5% | -17.6% | -80.0% | DNTH 1140% · ELVN 1127% · TRVI 1107% |
| Health Care Technology ← | 21 | -30.9% | -55.8% | -82.1% | VEEV 1% · DOCS -51% |
Latest Trefis Analyses
| Title | Date | |
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| DASHBOARDS | ||
| SCWorx Stock Drop Looks Sharp, But How Deep Can It Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 20.96 |
| Mkt Cap | 1.1 |
| Rev LTM | 917 |
| Op Inc LTM | 29 |
| FCF LTM | 41 |
| FCF 3Y Avg | 61 |
| CFO LTM | 148 |
| CFO 3Y Avg | 88 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.1% |
| Rev Chg 3Y Avg | 0.8% |
| Rev Chg Q | 3.4% |
| QoQ Delta Rev Chg LTM | 0.8% |
| Op Inc Chg LTM | 15.1% |
| Op Inc Chg 3Y Avg | 27.9% |
| Op Mgn LTM | 4.6% |
| Op Mgn 3Y Avg | 4.4% |
| QoQ Delta Op Mgn LTM | 1.1% |
| CFO/Rev LTM | 14.6% |
| CFO/Rev 3Y Avg | 10.6% |
| FCF/Rev LTM | 10.2% |
| FCF/Rev 3Y Avg | 6.3% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Health information technology solutions and services | 3 | 3 | 4 | 4 | 5 |
| Total | 3 | 3 | 4 | 4 | 5 |
| $ Mil | 2017 |
|---|---|
| Athlete Management | -0 |
| Ticket Service | -0 |
| Corporate | -5 |
| Promotion | -6 |
| Total | -11 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| Health information technology solutions and services | -4 | -1 |
| Total | -4 | -1 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Health information technology solutions and services | 8 | 6 | 6 |
| Total | 8 | 6 | 6 |
Price Behavior
| Market Price | $1.91 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 10/06/2016 | |
| Distance from 52W High | -97.5% | |
| 50 Days | 200 Days | |
| DMA Price | $3.81 | $14.17 |
| DMA Trend | down | down |
| Distance from DMA | -49.8% | -86.5% |
| 3M | 1YR | |
| Volatility | 304.6% | 286.0% |
| Downside Capture | 855.07 | 345.52 |
| Upside Capture | -44.31 | -95.48 |
| Correlation (S&P 500) | 6.3% | -4.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -3.54 | -4.74 | -1.23 | -3.83 | -1.29 | 1.01 |
| Up Beta | 6.68 | -6.95 | -10.78 | -6.13 | -2.70 | 1.54 |
| Down Beta | 21.46 | 11.72 | 4.35 | -10.84 | -2.68 | 0.13 |
| Up Capture | -690% | -493% | -64% | -118% | -55% | -1% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 5 | 5 | 15 | 36 | 85 | 278 |
| Down Capture | -565% | -374% | -141% | 129% | 128% | 112% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 10 | 11 | 17 | 52 | 127 | 424 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WORX | |
|---|---|---|---|---|
| WORX | -98.7% | 256.4% | -0.81 | - |
| Sector ETF (XLV) | 24.5% | 16.3% | 1.15 | 0.3% |
| Equity (SPY) | 13.7% | 12.7% | 0.72 | 0.4% |
| Gold (GLD) | 1.8% | 28.3% | 0.05 | 0.9% |
| Commodities (DBC) | 48.4% | 20.6% | 1.80 | 3.2% |
| Real Estate (VNQ) | 2.8% | 13.9% | -0.05 | -7.0% |
| Bitcoin (BTCUSD) | -29.4% | 43.4% | -0.68 | 5.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WORX | |
|---|---|---|---|---|
| WORX | -83.2% | 168.0% | -0.38 | - |
| Sector ETF (XLV) | 8.3% | 15.2% | 0.34 | 8.0% |
| Equity (SPY) | 12.7% | 17.1% | 0.56 | 10.3% |
| Gold (GLD) | 17.5% | 18.9% | 0.74 | 0.4% |
| Commodities (DBC) | 9.1% | 19.5% | 0.35 | 2.2% |
| Real Estate (VNQ) | 0.6% | 18.9% | -0.08 | 5.7% |
| Bitcoin (BTCUSD) | 4.1% | 51.6% | 0.26 | 8.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WORX | |
|---|---|---|---|---|
| WORX | -69.8% | 213.6% | 0.05 | - |
| Sector ETF (XLV) | 11.7% | 16.7% | 0.57 | 3.6% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 5.4% |
| Gold (GLD) | 12.0% | 16.4% | 0.60 | 3.1% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 5.5% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | -1.0% |
| Bitcoin (BTCUSD) | 62.3% | 66.2% | 1.02 | 2.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/14/2026 | 10-Q |
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 10/11/2024 | 10-Q |
| 03/31/2024 | 10/10/2024 | 10-Q |
| 12/31/2023 | 09/24/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 04/17/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/14/2026 | 10-Q |
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 10/11/2024 | 10-Q |
| 03/31/2024 | 10/10/2024 | 10-Q |
| 12/31/2023 | 09/24/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 04/17/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 05/13/2022 | 10-Q |
| 12/31/2021 | 03/31/2022 | 10-K |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/16/2021 | 10-Q |
| 03/31/2021 | 05/24/2021 | 10-Q |
| 12/31/2020 | 05/19/2021 | 10-K |
| 09/30/2020 | 11/16/2020 | 10-Q |
| 06/30/2020 | 08/14/2020 | 10-Q |
| 03/31/2020 | 07/01/2020 | 10-Q |
| 12/31/2019 | 06/12/2020 | 10-K |
| 09/30/2019 | 11/14/2019 | 10-Q |
Industry Resources
| Health Care Resources |
| U.S. National Library of Medicine |
| ClinicalTrials.gov |
| Modern Healthcare |
| Healthcare Dive |
| Fierce Healthcare |
| Health Affairs |
| Health Data Management |
| FDA Tracker |
| Health Care Technology Resources |
| Healthcare IT News |
| MobiHealthNews |
| HealthTech Magazine |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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