OneMedNet Corporation
- Open
- 0.57
- Day high
- 0.60
- Day low
- 0.56
- Prev close
- 0.58
- Volume
- 600K
- Mkt cap
- $35M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -9.9
- P/S
- 24.0
- Yield
- —
- Per share
- —
- ▲Insiders net buying $1.4M over the last 3 months (7 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions reducing (13F)
OneMedNet Corporation (ONMD) is a Healthcare company listed on NASDAQ. The stock is down 31% over the past year. Over the trailing 3 months, insiders filed 7 open-market buys and 0 sales (SEC Form 4).
OneMedNet Corporation (ONMD) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ONMD earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 14, 2026 | — | $-0.04 | — | $292000 | — |
| May 20, 2026 | — | $-0.04 | — | $96000 | — |
| Mar 30, 2026 | — | $-0.07 | — | $890000 | — |
| Nov 14, 2025 | — | $-0.01 | — | $177000 | — |
| Aug 13, 2025 | — | $-0.03 | — | $155000 | — |
| May 14, 2025 | — | $-0.07 | — | $137000 | — |
| Dec 5, 2024 | — | $-0.09 | — | $142000 | — |
| Sep 30, 2024 | — | $-0.15 | — | $227000 | — |
| Jun 28, 2024 | — | $-0.01 | — | $248000 | — |
| Mar 29, 2024 | — | $-0.17 | — | $340733 | — |
| Aug 14, 2023 | — | $-0.00 | — | $155684 | — |
| May 19, 2023 | — | $-0.01 | — | $1M | — |
ONMD insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 7, 2026 | Kosasa Thomasdirector, 10 percent owner: | Buy | 1,449,275 | $0.69 |
| Jun 24, 2026 | Yu Jeffreydirector, 10 percent owner, officer: Chief Medical Officer | Buy | 158,730 | $0.63 |
| Jun 24, 2026 | Green Aarondirector, officer: Chief Executive Officer | Buy | 36,650 | $0.57 |
| Jun 17, 2026 | Yu Jeffreydirector, 10 percent owner, officer: Chief Medical Officer | Buy | 172,414 | $0.58 |
| Jun 16, 2026 | Green Aarondirector, officer: Chief Executive Officer | Buy | 18,702 | $0.54 |
| Jun 16, 2026 | Green Aarondirector, officer: Chief Executive Officer | Buy | 36,920 | $0.56 |
| Jun 15, 2026 | Kosasa Thomasdirector, 10 percent owner: | Buy | 158,730 | $0.63 |
| May 20, 2026 | Kosasa Thomasdirector, 10 percent owner: | Buy | 268,817 | $0.93 |
| Apr 24, 2026 | Yu Jeffreydirector, 10 percent owner, officer: Chief Medical Officer | Buy | 903,614 | $0.83 |
| Apr 24, 2026 | Yu Jeffreydirector, 10 percent owner, officer: Chief Medical Officer | Grant | 219,429 | $0.83 |
| Apr 24, 2026 | Kosasa Thomasdirector, 10 percent owner: | Buy | 280,898 | $0.89 |
| Apr 24, 2026 | Kosasa Thomasdirector, 10 percent owner: | Buy | 595,238 | $0.84 |
| Dec 23, 2025 | Green Aarondirector, officer: Chief Executive Officer | Sell | 64,767 | $2.23 |
| Dec 23, 2025 | Green Aarondirector, officer: Chief Executive Officer | Sell | 61,555 | $1.20 |
| Nov 26, 2025 | Yu Jeffreydirector, officer: Chief Medical Officer | Buy | 21,374 | $0.69 |
Source: ONMD SEC Form 4 filings, latest Aug 7, 2026. For informational purposes only — not investment advice.
See the full ONMD insider & 13F page →OneMedNet Corporation company profile
Overview
OneMedNet Corporation (NASDAQ:ONMD) is a healthcare technology company founded in Eden Prairie, Minnesota, that went public in June 2021. The company operates in the medical imaging and healthcare information services sector, developing artificial intelligence-powered solutions to help medical researchers and institutions better utilize clinical imaging data for research and diagnostic purposes. Since its IPO, OneMedNet has faced significant financial challenges while working to commercialize its core technology platform.
Business
OneMedNet operates in the healthcare information services industry, specifically focusing on clinical imaging solutions for medical research. The healthcare imaging market involves the collection, storage, analysis, and sharing of medical images such as X-rays, MRIs, CT scans, and other diagnostic imaging data used by hospitals, research institutions, and pharmaceutical companies. The company's primary product is iRWD (intelligent Real World Data), an artificial intelligence-powered platform that addresses a critical challenge in medical research: how to efficiently and securely utilize the vast amounts of imaging data generated by healthcare institutions. Medical images contain sensitive patient information that must be protected while still being useful for research purposes. The iRWD platform uses AI algorithms to automatically remove identifying information from medical images (a process called de-identification), making them safe to share while preserving their scientific value. The platform enables medical and academic research institutions to search through large databases of de-identified imaging data and curate specific datasets needed for their research projects. This capability is particularly valuable for pharmaceutical companies developing new drugs, medical device manufacturers testing products, and academic researchers studying disease patterns and treatment outcomes. The technology spans multiple areas of life sciences research, from drug discovery to diagnostic development, helping accelerate medical breakthroughs by making imaging data more accessible and usable for research purposes.
Revenue model
OneMedNet generates revenue primarily through licensing its iRWD platform to medical and academic research institutions, pharmaceutical companies, and other life sciences organizations. The company operates on a software-as-a-service model, where customers pay for access to the platform's AI-powered imaging data processing capabilities. The company's customers are primarily B2B clients including medical research institutions, academic medical centers, pharmaceutical companies conducting clinical trials, and medical device manufacturers. These organizations pay for the ability to access, search, and utilize de-identified imaging datasets for their research and development activities. Several factors significantly impact OneMedNet's revenue potential and margins. Positive factors include the growing demand for real-world evidence in pharmaceutical research, increasing regulatory requirements for data-driven drug approvals, and the expanding volume of medical imaging data being generated globally. The company benefits from the trend toward AI-driven healthcare solutions and the need for more efficient clinical trial processes. Challenging factors include the highly regulated nature of healthcare data, which creates lengthy sales cycles and complex compliance requirements. The company faces competition from larger healthcare technology firms with more resources, and must navigate strict data privacy regulations like HIPAA. Additionally, the early-stage nature of AI adoption in medical research means the market is still developing, creating uncertainty around pricing and adoption rates. The company's small size also limits its ability to invest in sales and marketing compared to established competitors.
Competitive moat
OneMedNet's competitive position appears relatively weak, with limited sustainable competitive advantages. The company's primary potential moat lies in its specialized AI algorithms for medical image de-identification and its network of partner institutions that provide imaging data. However, these advantages are not particularly strong or defensible. The technology moat is questionable because AI and machine learning capabilities for image processing are becoming increasingly commoditized, with larger technology companies like Google, Microsoft, and Amazon offering similar or superior AI tools. The company's small size and limited resources make it difficult to compete on R&D investment against well-funded competitors. The network effects from partner institutions provide some value, but this advantage is fragile. Larger competitors with more resources could potentially replicate or acquire similar partnerships. Additionally, many healthcare institutions are developing their own data analytics capabilities or partnering with larger, more established technology providers. Significant competitive threats come from major healthcare technology companies, established medical imaging firms, and cloud computing giants that are expanding into healthcare AI. Companies like IBM Watson Health (before its sale), Google Health, and Microsoft Healthcare Bot have substantially more resources and broader healthcare relationships. The regulatory complexity of healthcare data also favors larger companies with dedicated compliance teams and established relationships with regulatory bodies. The company's competitive position is further weakened by its financial constraints, which limit its ability to invest in product development, sales, and marketing necessary to build stronger market position.
Risks & safety
OneMedNet presents extremely high financial risk with virtually no margin of safety for investors. • Cash burn and solvency risk: The company had only $144,000 in cash as of Q1 2025, while burning approximately $1.9-2.0 million per quarter in operating cash flow. With current liabilities of $18.2 million versus total assets of only $1.7 million, the company faces immediate solvency concerns. • Debt and liquidity crisis: Current ratio of 0.09 indicates severe liquidity problems, with current liabilities exceeding current assets by more than 10:1. The company appears technically insolvent from a balance sheet perspective. • Valuation metrics: While traditional valuation metrics show low multiples due to minimal revenue ($137,000 quarterly), these are misleading given the company's financial distress. The negative book value and ongoing losses make standard valuation approaches irrelevant. • Other considerations: Revenue has been declining (from $227,000 in Q2 2024 to $137,000 in Q1 2025), suggesting deteriorating business fundamentals alongside the financial crisis. The company will likely need immediate capital infusion or face bankruptcy.
Recent development
Based on available financial data, OneMedNet has struggled significantly since its 2021 IPO. The company's revenue has been inconsistent and declining, falling from over $1 million annually in 2022-2023 to just $643,000 in 2024. This decline suggests challenges in commercializing the iRWD platform and building a sustainable customer base. The company has been burning cash at an accelerating rate, with operating cash flow losses increasing from approximately $5.9 million in 2022 to nearly $7 million in 2024. This trend, combined with minimal cash reserves, indicates the company has been unable to achieve the scale necessary to reach profitability or attract significant additional investment. The balance sheet deterioration has been dramatic, with the company moving from a challenging but manageable financial position in 2022 to technical insolvency by 2024-2025. The massive increase in current liabilities relative to assets suggests the company may have accumulated significant unpaid obligations while struggling to generate revenue. Without access to earnings call transcripts, specific strategic initiatives or pivots are unclear, but the financial trajectory suggests the company has been unable to successfully execute its business plan or adapt to market challenges in the competitive healthcare technology space.
ONMD company profile · for informational purposes only — not investment advice.
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