POMDOCTOR Ltd
POM · Retail-Miscellaneous Retail · EDGAR filings ↗
Grade
F38China VIE online pharmacy burning cash with a near-empty runway and rapidly widening losses.
Strengths
- Revenue growth 84th pct and a growing internet-hospital segment
- Adequate gross-vs-sector cash balance at the reporting date
Risks
- Cash runway ~0.3 quarters, negative FCF (-$149m) and operating margin -29.7%; net loss tripled to RMB131m
- VIE/CSRC governance and current ratio 0.48 compound near-cash-out distress
Notable findings
- Negative equityNegative book equity (debt/equity -0.18)
- Net lossNet loss (net margin -32.7%)
- Cash burnNegative free cash flow (-21.4M)
- Weak liquidityCurrent ratio 0.48 (<1)
- Customer concentration~24% of revenue from one customer/distributor — 5% and 24
Key metrics
Gross margin
13.1%
Operating margin
-29.7%
Net margin
-32.7%
Return on equity
28.8%
Return on assets
-121.7%
Revenue growth (QoQ)
21.9%
Debt / equity
-0.2×
Current ratio
0.5×
Free cash flow
-$21M
Tangible book value
-$65M
Cash & investments
$1M
Cash runway
0q
Stock comp / revenue
4.1%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-05-14 | 2025-12-31 | 0001213900-26-056576 ↗ |