Healthy Choice Wellness Corp

What they do

Through wholly owned subsidiaries, HCWC operates natural and organic grocery stores under the banners Ada's Natural Market, Paradise Health & Nutrition, Mother Earth's Storehouse, Green's Natural Foods, Ellwood Thompson's and GreenAcres Market. The stores sell fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy, frozen foods, health and beauty products and natural household items. Its Healthy U Wholesale subsidiary sells vitamins, supplements and personal care products online at www.TheVitaminStore.com. The company was spun off from Healthier Choices Management Corp. and began trading on NYSE American under "HCWC" on September 16, 2024.

Revenue drivers

• Retail grocery stores — Four stores in Florida, nine in New York and New Jersey, one in Virginia, and five in Kansas and Oklahoma; the July 2024 GreenAcres Market acquisition added five stores and was described as the primary driver of revenue growth.
• GreenAcres Market (Healthy Choice Markets VI) — Five organic and natural health food and vitamin stores in Kansas and Oklahoma, acquired in July 2024, offering national and locally sourced specialty brands.
• Healthy U Wholesale / TheVitaminStore.com — Online sales of vitamins, supplements and health, beauty and personal care products; listed as a separate wholly owned subsidiary but no standalone revenue figure was provided.
• Committed equity financing — $13.25 million committed under the HCMC Series E Securities Purchase Agreement for HCWC Series A Convertible Preferred Stock; $5.25 million received as of December 31, 2025, with $8.0 million still contractually obligated.

Recent performance

Annual revenue rose from $55.7M in 2023 to $69.4M in 2024 and $78.2M in 2025, while net losses narrowed from $9.9M to $4.5M to $3.9M. In 2025, sales of $78,205,678 produced gross profit of $30,657,164 and an operating loss of $2,484,116, with SG&A of $33,141,280. Quarterly revenue declined across the most recent four periods: $19.0M (Sept 2025), $18.7M (Dec 2025), $18.2M (Mar 2026) and $16.6M (June 2026). Operating cash flow turned positive at $996,054 in 2025 after negative $2.5M in 2023 and negative $3.1M in 2024, but the six months ended June 30, 2026 showed net losses of about $6.7M and cash used in operating activities of about $1.2M. At June 30, 2026, the company reported $0.9M of cash, total assets of $27.7M, total liabilities of $24.2M, shareholder equity of $3.5M and long-term debt of $3.6M.

Strategy

Management's stated priorities are integration and operation of the acquired banners, standalone public company operations following the September 2024 spin-off, cost-reduction initiatives, and remediation of material weaknesses in internal controls identified during 2025. The company depends on the remaining $8.0 million of committed equity financing, and the Completion Date under the HCMC Series E SPA was amended to April 1, 2027, with investors having communicated intent to extend further. Management has not disclosed a store-growth target or new store openings in the excerpts provided.

Risks

• Going concern — At June 30, 2026 the company had about $0.9M of cash, negative working capital of $6.6M, a $6.7M six-month net loss and $1.2M of operating cash use, raising substantial doubt about its ability to continue as a going concern for one year.
• Financing dependency — $8.0M of the $13.25M committed equity financing remained unfunded as of December 31, 2025, and the company states this remaining commitment is significant to liquidity.
• Competition and pricing pressure — The company competes with national, regional and local supermarkets, superstores, natural foods stores, specialty stores, farmers' markets and restaurants, and expects increased product supply and downward price pressure to continue.
• Internal control weaknesses — The company is remediating material weaknesses in internal controls identified during 2025, and it filed a 10-Q/A for the June 30, 2026 quarter to delete erroneously included paragraphs in Notes 2 and 18.

Outlook

Beyond the going-concern disclosure, management states its plans include cost-reduction initiatives and the committed equity financing, and describes the remaining $8.0M commitment as critical. No revenue, margin, store-count or earnings guidance is provided in the excerpts.