A micro-cap primary-care “reimbursement + workflow” platform shifting from kits to recurring AI-enabled services—de-risked by debt cleanup, but still highly sensitive to scaling and CMS rules.
Overview
QHSLab, Inc. is a micro-cap digital health infrastructure provider focused on independent U.S. primary care practices. It addresses primary care fragmentation by delivering an EHR-integrated, cloud-based ecosystem that combines AI-supported assessments, point-of-care diagnostics, and automated reimbursement workflows. The business is shifting from lower-quality, transactional diagnostic sales toward higher-margin recurring services, led by the Integrated Service Program (ISP). In FY2025, revenue grew ~26% to ~$2.69M, driven by ~74% growth in ISP to ~$1.12M, alongside allergy kits (~$823k) and immunotherapy (~$488k). FY2025 GAAP net income (~$457k) reflected operational improvement but was materially boosted by a one-time debt extinguishment gain. A major catalyst is the retirement of most convertible debt and a ~$500k private placement, creating a cleaner capital structure to pursue 2026 expansion.