SCWorx Corp.

What they do

SCWorx sells health information technology and data services that repair, normalize and make interoperable hospital data, delivered as SaaS. Its platform is built around a virtualized Item Master File, with modules for Charge Description Master management, contract management, request for proposal automation, rebate management, big data analytics modeling, and data integration and warehousing. Software is hosted in third-party data centers (Amazon Web Services or RackSpace) and typically sold under three-to-five-year contracts to U.S. hospitals and health systems via a direct sales force and reseller partnerships.

Revenue drivers

• SaaS data normalization and Item Master File services — Core subscription offering that repairs, expands and automates the hospital Item Master File; the primary source of the roughly $2.9M of annual revenue, billed over fixed three-to-five-year contract terms.
• Interoperability and data integration/warehousing — Connects supply chain, EMR/clinical and patient billing systems and warehouses the data; sold as modules alongside the core platform.
• Analytics and contract/CDM management modules — Includes big data analytics modeling, CDM management, contract management, RFP automation and rebate management; ancillary modules layered onto existing hospital customers.
• Distribution and reseller partnerships — Revenue reaches hospitals both through the direct sales force and through strategic distribution and reseller relationships, per the 10-K.

Recent performance

Annual revenue has declined every year from $4.6M in 2021 to $2.9M in 2025, with 2025 revenue of $2,877,629 versus $2,989,599 in 2024, a roughly 4% decline. The net loss widened to $4,444,109 in 2025 from $1,136,225 in 2024, and operating cash flow was negative $1.5M in 2025. Quarterly revenue has been roughly flat at $706K (2025-09-30), $769K (2025-12-31), $745K (2026-03-31) and $706K (2026-06-30). At June 30, 2026 the company reported total assets of $7.7M, total liabilities of $775,632, shareholder equity of $6.9M and cash of $1.3M. The company has an accumulated deficit of $35,420,175 at December 31, 2025.

Strategy

The company states it continues to deliver data-driven interoperability solutions to U.S. healthcare providers, sold through a combination of direct sales and strategic partner/reseller relationships. Solutions are delivered as hosted SaaS on AWS or RackSpace under contracts typically running three to five years. On July 28, 2026, following stockholder approval, the company amended its charter to effect a 1-for-12 reverse stock split, effective at the open on August 4, 2026, with all periods restated. The filings describe continued focus on assisting hospitals with data interoperability issues; no new product lines or capital commitments are specified in the provided excerpts.

Risks

• Persistent losses and accumulated deficit — The company had a net loss of $4,444,109 in 2025 and an accumulated deficit of $35,420,175 at December 31, 2025, and says it may continue to incur operating and net losses.
• Declining revenue — Total revenue fell about 4% to $2,877,629 in 2025 from $2,989,599 in 2024, continuing a multi-year decline from $4.6M in 2021.
• Nasdaq listing-rule failures and delisting notices — The company filed delisting notice or listing-rule failure 8-Ks on 2026-04-10, 2026-07-29 and 2026-09-04, and implemented a 1-for-12 reverse split effective August 4, 2026.
• Dependence on third-party hosting and data security — Operations depend on RackSpace (and AWS) hosting, and the 10-K states IT systems are subject to risk of infiltration or data theft and that disruptions could adversely affect operations.

Outlook

Management's stated goal is to grow revenue to reach profitability, but it acknowledges it may never achieve profitability and that losses may increase. The 10-K attributes the 4% 2025 revenue decline to the possibility that revenue could keep declining if the company cannot develop and market its offerings successfully. No specific forward guidance, new contracts or capital plans are provided in the excerpts. The most recent 8-K events are a September 2026 delisting notice, a July 2026 charter amendment, and a July 2026 shareholder vote.