📊 GRST Key Takeaways
Is GRST a Good Investment? Thesis Analysis
ETHEMA Health exhibits a critical financial crisis with negative stockholders equity of -$8.6M, severe liquidity constraints (0.18x current ratio), and negative operating cash flow despite 12.6% revenue growth. The company is technically insolvent on a balance sheet basis with only $114K cash against $38.8M liabilities, indicating imminent solvency concerns that outweigh modest topline expansion.
Revenue is growing and operating income has turned positive, but profitability remains extremely thin with a -8% net margin and negative free cash flow. Liquidity is critically weak (0.18x current ratio, $114k cash) and equity is negative, signaling elevated solvency risk absent recapitalization. Without sustained margin expansion and cash generation, fundamentals are unfavorable.
Why Buy GRST? Key Strengths
- Revenue growth of 12.6% YoY demonstrates market demand
- Positive gross profit of $2.1M shows core operations generate some value
- Positive operating income of $108.1K indicates marginal operational viability
- Double-digit revenue growth (+12.6% YoY)
- Operating income positive with interest coverage ~2.3x
- Low capex needs relative to revenue
GRST Investment Risks to Consider
- Negative stockholders equity of -$8.6M: balance sheet insolvency
- Current ratio of 0.18x: severe liquidity crisis with insufficient current assets to cover liabilities
- Negative operating cash flow of -$339.1K: burning cash operationally despite revenue growth
- Negative net income of -$1.1M: unprofitable despite revenue expansion
- Minimal cash reserves of $114K relative to burn rate and total liabilities
- No insider Form 4 filings in 90 days: absence of insider confidence
- Severe liquidity stress: current ratio 0.18x and minimal cash
- Negative stockholders’ equity (-$8.57M) limits financing flexibility
- Persistent negative FCF and thin margins heighten insolvency/dilution risk
Key Metrics to Watch
- Operating cash flow trend and path to positive OCF
- Current ratio and absolute cash position trends
- Net income trajectory and path to profitability
- Debt refinancing and covenant compliance status
- Operating cash flow and FCF
- Current ratio
GRST Financial Metrics
💡 AI Analyst Insight
The current ratio below 1.0x warrants monitoring of short-term liquidity.
GRST Profitability Ratios
GRST vs Healthcare Sector
How ETHEMA HEALTH Corp compares to Healthcare sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is GRST Overvalued or Undervalued?
Based on fundamental analysis, ETHEMA HEALTH Corp has mixed fundamental signals relative to the Healthcare sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
GRST Balance Sheet & Liquidity
GRST 5-Year Financial Trend & Growth Analysis
5-Year Trend Summary: ETHEMA HEALTH Corp's revenue has grown significantly by 1,572% over the 5-year period, indicating strong business expansion. The most recent EPS of $0.00 indicates the company is currently unprofitable.
GRST Growth Metrics (YoY)
GRST Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $1.8M | $66.1K | $0.00 |
| Q2 2025 | $1.5M | -$295.5K | $0.00 |
| Q1 2025 | $1.3M | -$374.2K | $0.00 |
| Q3 2024 | $1.4M | $1.7M | $0.00 |
| Q2 2024 | $1.5M | -$407.9K | $0.00 |
| Q1 2024 | $1.3M | -$175.7K | N/A |
| Q3 2023 | $1.4M | -$165.0K | N/A |
| Q2 2023 | $1.1M | -$179.6K | N/A |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
GRST Capital Allocation
GRST SEC 10-K & 10-Q Filing Analysis
Access official SEC EDGAR filings for ETHEMA HEALTH Corp (CIK: 0000792935)
📋 Recent SEC Filings
❓ Frequently Asked Questions about GRST
What is the AI rating for GRST?
ETHEMA HEALTH Corp (GRST) has a Combined AI Rating of STRONG SELL from Claude (STRONG SELL) and ChatGPT (STRONG SELL) with 86% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are GRST's key strengths?
Claude: Revenue growth of 12.6% YoY demonstrates market demand. Positive gross profit of $2.1M shows core operations generate some value. ChatGPT: Double-digit revenue growth (+12.6% YoY). Operating income positive with interest coverage ~2.3x.
What are the risks of investing in GRST?
Claude: Negative stockholders equity of -$8.6M: balance sheet insolvency. Current ratio of 0.18x: severe liquidity crisis with insufficient current assets to cover liabilities. ChatGPT: Severe liquidity stress: current ratio 0.18x and minimal cash. Negative stockholders’ equity (-$8.57M) limits financing flexibility.
What is GRST's revenue and growth?
ETHEMA HEALTH Corp reported revenue of $14.0M.
Does GRST pay dividends?
ETHEMA HEALTH Corp pays dividends, with $0.0M distributed to shareholders in the trailing twelve months.
Where can I find GRST SEC filings?
Official SEC filings for ETHEMA HEALTH Corp (CIK: 0000792935) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is GRST's EPS?
ETHEMA HEALTH Corp has a diluted EPS of $0.00.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is GRST a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, ETHEMA HEALTH Corp has a STRONG SELL rating with 86% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.
Is GRST stock overvalued or undervalued?
Valuation metrics for GRST: ROE of N/A (sector avg: 15%), net margin of -8.0% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
Should I buy GRST stock in 2026?
Our dual AI analysis gives ETHEMA HEALTH Corp a combined STRONG SELL rating for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is GRST's free cash flow?
ETHEMA HEALTH Corp's operating cash flow is $-339.1K, with capital expenditures of $158.7K. FCF margin is -3.6%.
How does GRST compare to other Healthcare stocks?
Vs Healthcare sector averages: Net margin -8.0% (avg: 12%), ROE N/A (avg: 15%), current ratio 0.18 (avg: 2).