MeritValue

MedWellAI, Inc.

MWAIdata completeness 88%16 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

MedWellAI, Inc. earns about -128% on equity, and has bought back 96% of its shares over 5 years. The cash-flow models don't apply cleanly here — the ledger says why below.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$1.85M1$6.55M2$3.86M3$04$594,7684
Net income−$22.4M5−$565,5146−$25.5M7−$11.5M8−$3.61M8
Operating cash flow−$1.57M9$55,45510−$3.43M11−$4.13M12−$848,53112
Capital expenditure$3.29M13$73,57514$015$016$2,24216
Free cash flow (derived)−$4.86M9−$18,12010−$3.43M11−$4.13M12−$850,77312
Total debt—————
Cash & equivalents$2.1M17$490,28018$257,99819$57,81519$401,31020
Diluted shares146.0M204.7M2.2M4.4M6.2M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
−$10.71
your share of equity
Profit it earned you last year
−$5.83
Free cash flow it threw off
−$1.38
Debt you’d be carrying
—

10 shares is a claim on −$10.71 of net worth that earned you −$5.83 and generated −$1.38 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
-128% avg · 5y
FY21 -250%FY22 -5%FY23 —FY24 —FY25 —

It earned an average -128% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
−96% shares · 5y

Share count is down 96% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
DCF · Growth Exit 5Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2021-06-30 · accession 0001477932-22-007238 (Revenues)
  2. 10-K/A · period ending 2022-06-30 · accession 0001477932-24-002700 (Revenues)
  3. 10-K · period ending 2023-06-30 · accession 0001477932-24-006034 (Revenues)
  4. 10-K · period ending 2024-06-30 · accession 0001477932-25-007253 (Revenues)
  5. 10-K · period ending 2021-06-30 · accession 0001477932-22-007238 (NetIncomeLoss)
  6. 10-K/A · period ending 2022-06-30 · accession 0001477932-24-002700 (NetIncomeLoss)
  7. 10-K · period ending 2023-06-30 · accession 0001477932-24-006034 (NetIncomeLoss)
  8. 10-K · period ending 2024-06-30 · accession 0001477932-25-007253 (NetIncomeLoss)
  9. 10-K · period ending 2021-06-30 · accession 0001477932-22-007238 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K/A · period ending 2022-06-30 · accession 0001477932-24-002700 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-06-30 · accession 0001477932-24-006034 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-06-30 · accession 0001477932-25-007253 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-06-30 · accession 0001477932-22-007238 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K/A · period ending 2022-06-30 · accession 0001477932-24-002700 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2023-06-30 · accession 0001477932-24-006034 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2024-06-30 · accession 0001477932-25-007253 (PaymentsToAcquirePropertyPlantAndEquipment)
  17. 10-K · period ending 2021-06-30 · accession 0001477932-22-007238 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K/A · period ending 2022-06-30 · accession 0001477932-24-002700 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2023-06-30 · accession 0001477932-24-006034 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2025-06-30 · accession 0001477932-25-007253 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)