Executive Summary
GPO Plus Inc (GPOX) reported Q3 2025 revenue of $1.2316 million, up 13.1% year-over-year and 3.6% quarter-over-quarter, reflecting continued top-line momentum in its niche of industry-specific group purchasing organizations (GPOs) for healthcare, hemp (cbdGPO), and related professional services. Despite better revenue and a narrowing of the operating loss, the company remains unprofitable on a net basis and carries material liquidity and balance-sheet stresses. The quarter showed improving EBITDA (still negative at $-0.251 million) and a reduced net loss of $-0.409 million, but cash burn persisted with negative free cash flow of $-0.359 million and cash at period-end of only $9.8k. The mix of growth in revenue with continued inefficiencies highlights a path to profitability only if scale, cost controls, and working capital efficiency improve meaningfully. Management commentary (where available) suggests ongoing focus on leveraging HealthGPO and cbdGPO as engines for deeper customer relationships and higher-margin services, but explicit forward guidance remained limited in the provided materials. The balance sheet remains structurally levered, with current ratio ~0.044 and stockholders’ equity deeply negative, signaling a high-risk investment profile until operating leverage and liquidity are meaningfully improved.
Key Performance Indicators
QoQ: 53.41% | YoY:124.56%
Key Insights
Revenue: $1.2318m, up 13.1% YoY and 3.6% QoQ. Gross Profit: $345.9k, margin 28.08% (YoY margin expansion to 28.1%, QoQ +53.4%). Operating Loss: $-298.6k, margin -24.24% (improvement in operating performance vs prior periods). Net Income: $-409.3k, margin -33.23% (YoY and QoQ improvements in loss magnitude reflected in the YoY metric). EPS: $-0.0071, margin negative; Diluted EPS $-0.0071. EBITDA: $-251.3k, margin roughly -20.40% (negative but improving).
Balance Sheet &...
Financial Highlights
Revenue: $1.2318m, up 13.1% YoY and 3.6% QoQ. Gross Profit: $345.9k, margin 28.08% (YoY margin expansion to 28.1%, QoQ +53.4%). Operating Loss: $-298.6k, margin -24.24% (improvement in operating performance vs prior periods). Net Income: $-409.3k, margin -33.23% (YoY and QoQ improvements in loss magnitude reflected in the YoY metric). EPS: $-0.0071, margin negative; Diluted EPS $-0.0071. EBITDA: $-251.3k, margin roughly -20.40% (negative but improving).
Balance Sheet & Cash Flow: Cash and equivalents $9.84k; Net cash from operating activities $-359.7k; Free cash flow $-359.7k. Total current liabilities $5.07m vs total current assets $0.225m; current ratio 0.04x; total debt $2.52m; net debt $2.51m. Net stockholders’ equity is negative at $(4.64)m. Four-quarter trend shows sequential revenue growth from 1Q25 to 3Q25, but profitability remains elusive.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
1.23M |
13.05% |
3.58% |
| Gross Profit |
345.91K |
124.56% |
53.41% |
| Operating Income |
-298.63K |
60.04% |
40.41% |
| Net Income |
-409.33K |
53.68% |
30.06% |
| EPS |
-0.01 |
64.50% |
29.70% |
Key Financial Ratios
operatingProfitMargin
-24.2%
operatingCashFlowPerShare
$-0.01
freeCashFlowPerShare
$-0.01
Management Commentary
No earnings call transcript was provided in the data. Accordingly, there are no management quotes grouped by themes available in the supplied material. Highlights and themes below are based on the disclosed financial results and standard industry expectations for guidance-related commentary.
- Management focus themes (inferred, in absence of transcript): growth acceleration in HealthGPO and cbdGPO offerings, path to profitability via revenue scale and cost rationalization, and liquidity management given near-term cash burn. Investors should monitor any new color around capital structure actions, debt facilities, or working capital initiatives as levers for liquidity.
Forward Guidance
No explicit forward guidance was provided in the supplied materials. Based on the Q3 results, the near-term outlook hinges on achieving meaningful leverage of revenue growth into improved profitability and cash flow. Key factors to watch: (1) sustained revenue growth trajectory above low-to-mid teens YoY, (2) step-down in operating costs as SG&A scales with top line, (3) improvement in working capital efficiency (reducing receivables and payables gaps, lowering other working capital outflows), (4) liquidity runway via additional borrowing, equity raises, or vendor financing, and (5) potential improvements in gross margin as HealthGPO/cbdGPO contributions scale. Given the current cash balance and heavy current liabilities, any guidance on a cash-flow breakeven or a targeted annual loss reduction would be material. Investors should monitor quarterly cadence for improvements in EBITDA/operating cash flow and any announced financing actions that could extend liquidity.