Cell MedX Corp (CMXC) reported a negative net income of $66,919 in QQ1 2025, with operating income of −$73,845 and EBITDA of −$58,066. Revenue data for QQ1 2025 was not disclosed in the provided dataset, limiting top-line assessment. Relative to the prior year, operating income shows a YoY improvement of 4.04% and a QoQ improvement of 36.86%, while net income improves 13.04% YoY and 46.45% QoQ, yet remains meaningfully negative. The company continues to burn cash, posting negative cash flow from operations of $22,917 and a sequential decrease in cash to $20,552 at quarter end, from $43,415 at the beginning of the period.
From a balance sheet perspective, CMXC carries a highly precarious liquidity position: total current liabilities exceed assets by a wide margin (total current liabilities of $931,127 vs. total assets of $22,397) and stockholders’ equity is negative at −$908,730. Short-term debt stands at $321,288 and net debt is $300,736. The liquidity metrics are severely stressed, with current, quick, and cash ratios all around 0.02–0.03, indicating an extremely tight runway absent additional capital or a meaningful revenue/sales recovery. Management commentary on QQ1 2025 in the available materials is not provided, limiting the ability to confirm execution plans or near-term guidance.
Overall, the investment thesis for CMXC in QQ1 2025 rests on the potential commercialization and adoption of its eBalance Pro System (professional use) and eBalance Home System (home wellness/pain management). However, the current cash burn, negative equity, and lack of disclosed revenue create substantial risk. Investors should monitor any forthcoming guidance on revenue ramp, cost controls, and financing plans, as well as any strategic moves (partnerships, licensing, or equity financings) that could restore liquidity and improve profitability trajectory.
Net Income: −$66,919; YoY growth: +13.04%; QoQ growth: +46.45%
EBITDA: −$58,066
Financial Highlights
- Revenue: not disclosed (null)
- Gross Profit: not disclosed (null)
- Operating Income: −$73,845; YoY growth: +4.04%; QoQ growth: +36.86%
- Net Income: −$66,919; YoY growth: +13.04%; QoQ growth: +46.45%
- EBITDA: −$58,066
- EBITDA Margin: not disclosed
- Earnings per Share (EPS): −$0.0016; YoY: −33.33%; QoQ: +46.67%
- Weighted Average Shares Outstanding: 41,369,668
- Operating Cash Flow: −$22,917
- Free Cash Flow: −$22,917
- Net Cash Provided by Operating Activities: −$22,917
- Cash and Cash Equivalents (end of period): $20,552
- Cash and Cash Equivalents (beginning of period): $43,415
- Change in Cash: −$22,863
- Short-Term Debt: $321,288
- Total Liabilities: $931,127
- Total Assets: $22,397
- Total Stockholders’ Equity: −$908,730
- Net Debt: $300,736
- Current Ratio: 0.0241; Quick Ratio: 0.0241; Cash Ratio: 0.0221
- Return on Assets (ROA): −2.99%; Return on Equity (ROE): 7.36% (note: highly distorted by negative equity; interpret with caution)
- Cash Flow to Debt (CF/Debt): −0.0713
- Price to Earnings Ratio (P/E) (where applicable): −3.09; Enterprise Value Multiple: −19.43
- Revenue multiple and other market multiples are not meaningful given the liquidity and profitability profile.
Income Statement
Metric
Value
YoY Change
QoQ Change
Operating Income
-73.85K
4.04%
36.86%
Net Income
-66.92K
13.04%
46.45%
EPS
0.00
-33.33%
46.67%
Key Financial Ratios
currentRatio
0.02
returnOnAssets
-299%
returnOnEquity
7.36%
debtEquityRatio
-0.35
operatingCashFlowPerShare
$-0
freeCashFlowPerShare
$-0
priceToBookRatio
-0.91
priceEarningsRatio
-3.09
Net Income vs. Revenue
Expense Breakdown
Management Commentary
No earnings transcript provided for QQ1 2025 in the supplied data. As a result, management quotes, themes on strategy, operations, and market conditions could not be extracted. If a transcript becomes available, the highlights would be organized by themes (e.g., strategic priorities for eBalance Pro/Home systems, regulatory or clinical validation progress, go-to-market plans, and near-term profitability/timelines).
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Forward Guidance
There is no formal forward guidance disclosed for QQ1 2025 in the provided material. Given the acute liquidity constraints (cash end of period $20,552; current liabilities $931,127; current ratio 0.0241) and the negative equity position, near-term guidance would likely center on cash runway extension, cost containment, and any anticipated revenue ramp from the eBalance platform. Investors should monitor: (1) any announced capital raise or debt facilities that extend liquidity, (2) any regulatory clearances or clinical validation milestones that could unlock broader adoption of the eBalance Pro/Home systems, and (3) any concrete revenue targets or timing for device deployments. If management communicates a clear path to revenue generation and a credible plan to restore liquidity, the outlook could improve; without such guidance, the stock remains highly sensitive to financing risk and execution milestones.
Competitive Position
Company
Gross Margin
Operating Margin
Return on Equity
P/E Ratio
CMXC Focus
0.00%
0.00%
7.36%
-3.09%
NVRO
66.30%
-31.80%
-9.12%
-4.78%
NUVA
71.90%
2.98%
-0.12%
-532.61%
ITGR
24.20%
11.20%
1.34%
47.62%
GKOS
76.30%
-31.90%
-9.06%
-28.26%
Gross Profit Margin
Operating Profit Margin
Return on Equity
P/E Ratio Comparison
Investment Outlook
CMXC presents a high-risk, high-uncertainty proposition in QQ1 2025. The key driver for turnaround is a credible plan to extend liquidity and achieve either a revenue ramp or meaningful strategic financing. Absent visible near-term revenue or a funded liquidity plan, the stock realistically reflects a risk of continued cash burn and potential equity dilution. For risk-tolerant investors, catalysts would include a financing transaction (debt incurrence or equity raise), a strategic partnership that accelerates device adoption, or an early revenue stream from one or both eBalance systems. Upgrades in profitability would likely require a combination of revenue growth, cost discipline, and favorable financing terms. Given the current data, position CMXC as a speculative, turnaround-oriented opportunity with a narrow runway and significant execution optionality.
Key Investment Factors
Growth Potential
Potential long-term upside rests on commercial adoption of the eBalance Pro System (professional settings) and the eBalance Home System (home wellness). If sales scale modestly and regulatory/commercial milestones are achieved, the combined platform could offer multiple revenue streams beyond initial device sales, including service, software, and potential recurring revenue from eBalance Console integration.
Profitability Risk
Key risks include severe liquidity constraints (end-period cash of $20,552 and current ratio of 0.0241), negative stockholders’ equity, reliance on external financing, no disclosed QQ1 2025 revenue, and ongoing operating losses. The small, microcap profile increases volatility and dilution risk. Industry competition in medical devices, regulatory hurdles, and reliance on adoption of nonpharmacological therapies also pose material threats.
Financial Position
Very weak liquidity and leverage: total liabilities of $931,127 vastly exceed total assets of $22,397, yielding a negative equity position of −$908,730. Short-term debt of $321,288 dominates the capital structure. Net debt stands at $300,736. Cash burn from operations ($22,917) and a QoQ negative cash flow contribute to a fragile cash runway absent new financing or meaningful revenue recognition.
SWOT Analysis
Strengths
Household and professional device ecosystem: eBalance Pro System for clinical use and eBalance Home System for at-home wellness and pain management.
Diversified product potential across diabetes, Parkinson’s disease, hypertension, neuropathy, and kidney function domains.
Management has established a repeatable platform architecture (centralized eBalance Console with three microcurrent algorithms).
Weaknesses
Materially negative liquidity and equity position; current liabilities far exceed assets.
No disclosed QQ1 2025 revenue; ongoing operating losses and negative EBITDA.
Light operating scale and limited cash runway increase dilution and refinancing risk.
Opportunities
Growing demand for nonpharmacological therapies and home-based medical devices; potential partnerships/licensing to accelerate adoption.
Potential upside from clinical validation milestones, payer coverage discussions, and expansion into boutique clinical settings.
Threats
Regulatory, reimbursement, and clinical validation timelines could delay revenue realization.
Competitive intensity in the medical devices/diabetes management space; capital markets volatility affecting access to liquidity.
Sustained negative cash flow and high leverage could threaten ongoing operations without strategic actions.