SCWorx Announces Resumption of Nasdaq Trading and Highlights Improved Operating Performance and Growth Strategy SCWorx Corp. Wed, October 7, 2026 at 2:23 PM EDT 10 min read WORX -3.88% ^IXIC -0.33% WORXD 0.00% SCWorx Corp. Company Reports Significant Improvement in Gross Profit, Net Loss and Operating Cash Used for the First Half of 2026; Continues to Expand Healthcare Customer Base and AI-Enabled Data Management Platform
MIDDLETON, Mass., Oct. 07, 2026 (GLOBE NEWSWIRE) -- SCWorx Corp. (Nasdaq: WORX) ("SCWorx" or the "Company"), a provider of healthcare supply chain data management and analytics solutions, following the resumption of trading of its common stock today on The Nasdaq Capital Market, highlighted the Company's improved operating performance, expanding healthcare customer relationships and continued investment in its proprietary healthcare data and technology platform.
The resumption of Nasdaq trading represents an important milestone for SCWorx and provides the Company with a platform to pursue its next phase of growth following significant improvements in gross profitability and cash utilization during the first half of 2026. As previously announced, on October 2, 2026 the Nasdaq Hearings Panel granted the Company's request for reconsideration of its September 17, 2026 delisting decision, determined that the Company had regained compliance with Nasdaq's continued listing requirements and approved the Company's continued listing on The Nasdaq Capital Market, subject to conditions that include a one-year Panel Monitor. The Panel's decision and its conditions are described in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on October 5, 2026.
Building a Stronger and More Scalable SCWorx
"The resumption of Nasdaq trading is an important milestone for SCWorx and our shareholders, but our focus remains firmly on the underlying business," said Tim Hannibal, President and Chief Executive Officer of SCWorx. "Over the past year, we have significantly improved the economics of the Company while continuing to invest in our technology, healthcare data assets and customer relationships. We believe we are building a more efficient, scalable and strategically valuable healthcare technology company."
The following financial information is derived from the Company's unaudited condensed consolidated financial statements included in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, filed with the SEC on August 14, 2026. For the second quarter of 2026, SCWorx generated revenue of approximately $706,000, compared with approximately $683,000 in the second quarter of 2025. Gross profit increased approximately 83% to approximately $330,000, compared with approximately $180,000 in the prior-year period.
For the first six months of 2026, gross profit increased approximately 122% to approximately $705,000, compared with approximately $317,000 in the prior-year period, despite comparatively modest revenue growth (approximately $1.45 million compared with approximately $1.40 million).
The Company's net loss for the second quarter declined to approximately $121,000, compared with a net loss of approximately $1.9 million in the second quarter of 2025. For the first six months of 2026, the Company's net loss was approximately $295,000, compared with approximately $2.4 million during the comparable period in 2025. The decrease in net loss was attributable to the increase in gross profit and to the absence in 2026 of approximately $1.7 million of interest expense and amortization of debt discount recorded in the first six months of 2025 in connection with convertible notes that are no longer outstanding; operating expenses were essentially unchanged.
Cash used in operating activities also declined substantially, to approximately $258,000 during the first six months of 2026, compared with approximately $1.1 million during the comparable period in 2025. The Company had cash of approximately $1.3 million at June 30, 2026 and, in September 2026, raised gross proceeds of $938,000 in a private placement of common stock and warrants.
Management believes the improvement in gross profit demonstrates the potential operating leverage of the SCWorx business model as the Company seeks to grow revenue using a more efficient technology and delivery infrastructure.
A Differentiated Healthcare Data Platform
SCWorx is focused on solving one of the most persistent challenges facing healthcare providers: the lack of clean, standardized, complete and actionable supply chain data.
Healthcare organizations frequently operate with fragmented item masters, inconsistent product descriptions, incomplete product attributes, multiple classification systems and disconnected supplier information. These data-quality challenges can affect procurement, inventory management, contract compliance, analytics, ERP implementations and financial performance.
SCWorx has spent more than a decade developing healthcare-specific product data, classification methodologies, attribute structures and data-management capabilities designed to address these challenges.
The Company's competitive differentiation is based on the combination of its curated healthcare product data assets, proprietary classification and attribute methodologies, healthcare-specific domain expertise, technology-enabled workflows and human quality-assurance processes.
During 2026, SCWorx has continued to expand these capabilities through its AI-enabled Data Management Model, which combines commercially available large language models with SCWorx's healthcare data assets, attribute catalog, classification methodologies and human quality assurance.
SCWorx believes AI-enabled automation can materially improve the economics and scalability of its data-management operations by accelerating data-processing workflows, increasing automation and reducing the resources required to cleanse, normalize, classify and enrich healthcare supply chain data.
"We believe the strategic value of SCWorx extends beyond an individual software application," Hannibal continued. "Over more than a decade, we have developed healthcare-specific data, classification methodologies, attribute structures and institutional knowledge that are embedded in our platform and workflows. Combining these assets with AI-enabled automation creates an opportunity to process healthcare data faster and more efficiently while continuing to maintain the domain expertise and quality controls our customers require."
Expanding Healthcare Customer Relationships
Customer expansion and recurring revenue remain core priorities for SCWorx.
During 2026, the Company has announced new agreements and customer wins involving major healthcare organizations, including a new not-for-profit teaching hospital utilizing SCWorx data-management capabilities in support of a Workday implementation and a new two-year agreement with one of Massachusetts' largest integrated delivery networks.
The Company has also continued to develop relationships with strategic healthcare and technology partners.
SCWorx believes these relationships demonstrate the broader role that high-quality supply chain data can play within modern healthcare technology environments.
The Company's opportunity extends beyond individual data-cleansing projects. Once SCWorx data and technology are incorporated into a healthcare organization's operating environment, the Company believes opportunities may exist to provide ongoing data governance, enrichment, classification, interoperability and analytics services.
Increasing the percentage of revenue generated from recurring and multi-year customer relationships remains an important component of SCWorx's long-term strategy.
Priorities for the Next Stage of Growth
SCWorx's objective is to build a profitable and scalable healthcare data-management company with recurring revenue, proprietary healthcare data capabilities and technology-enabled operating leverage at its core.
The Company is concentrating its resources on four primary priorities:
Expanding its healthcare customer base through direct sales and strategic channel relationships;
Increasing recurring and multi-year revenue from new and existing customers;
Improving gross margins and operating leverage through automation, AI-enabled workflows and continued optimization of the Company's technology infrastructure; and
Expanding the strategic value and application of SCWorx's healthcare data, classification methodologies and technology across supply chain, ERP, procurement, analytics and interoperability environments.
Management believes these initiatives have the potential to create a business that is substantially more scalable and strategically valuable than the Company's historical operating model.
Nasdaq Platform and Capital Strategy
SCWorx believes its Nasdaq listing provides an important platform to increase the Company's visibility among investors, healthcare customers, strategic partners and potential sources of capital.
The Company's long-term success, however, will ultimately depend upon operating performance and execution.
SCWorx intends to remain focused on growing revenue, increasing recurring revenue, improving profitability, strengthening its balance sheet and expanding the strategic value of its healthcare data and technology platform.
Management believes the combination of an improved gross margin profile, established healthcare customer relationships, healthcare-specific data assets, domain expertise and AI-enabled technology provides SCWorx with a stronger foundation from which to pursue these objectives.
SCWorx remains a small company operating in a highly competitive healthcare technology market. The Company must continue to improve revenue growth, manage its capital resources carefully, and successfully execute its commercial strategy. The Company must also maintain compliance with Nasdaq's continued listing requirements during the one-year Panel Monitor period, during which any deficiency would result in a Staff Delisting Determination without the benefit of a compliance plan or cure period.
At the same time, management believes SCWorx is operating from a significantly stronger foundation than it was a year ago.
The Company has improved gross profitability, substantially reduced its net loss, reduced operating cash utilization, continued to win and retain healthcare customers and invested in technology and AI-enabled capabilities designed to increase the scalability of its operations.
"Our goal now is execution," Hannibal said. "We intend to convert the operational improvements we have made into sustainable revenue growth, increased recurring revenue, positive cash flow and long-term shareholder value. We believe SCWorx has valuable healthcare data assets, technology and domain expertise, and our responsibility is to translate those assets into a larger, stronger and more valuable company."
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include statements regarding, among other things, the Company's expectations and objectives concerning revenue growth, recurring revenue, gross margins, operating leverage, profitability, positive cash flow, customer expansion, strategic relationships, capital resources, technology development, AI-enabled data management, scalability, market opportunities and shareholder value.
Forward-looking statements are based on management's current expectations, estimates and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, among others, the Company's ability to grow revenue and recurring revenue, retain and expand customer relationships, successfully develop and deploy new technology, realize anticipated efficiencies from AI-enabled automation, compete successfully in the healthcare technology market. manage its capital resources, raise additional capital on acceptable terms, if at all, the dilutive effect of any equity financing, maintain compliance with applicable Nasdaq continued-listing requirements, including during the one-year Panel Monitor period, the possibility that the Nasdaq Listing and Hearing Review Council calls the Nasdaq Hearings Panel's October 2, 2026 decision for review, and the possibility that the investors in the Company's September 2026 private placement exercise their contractual termination rights, The results for the periods ended June 30, 2026 described in this press release are not necessarily indicative of results for any future period.
Readers are encouraged to review the risk factors and other disclosures contained in the Company's filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2025 and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. SCWorx undertakes no obligation to publicly update or revise any forward-looking statements except as required by applicable law.
SCWorx Corp. is a healthcare technology company providing data management, normalization, enrichment, interoperability and analytics solutions focused on healthcare supply chain and related operational data.
The Company's platform combines curated healthcare product data assets, proprietary classification and attribute methodologies, healthcare-specific domain expertise and technology-enabled workflows designed to help healthcare organizations improve the quality, consistency and usability of their data.
SCWorx solutions support healthcare supply chain, procurement, ERP, analytics and financial initiatives and are designed to help healthcare organizations transform fragmented product information into standardized and actionable data.
For more information, visit SCWorx's corporate website.
