HELIUS MEDICAL TECHNOLOGIES, INC. (HSDT) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: March 31, 2026

Risk Assessment Details

Potential Dilution: 0.27% of current shares
Recent Dilution: Infinity% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
55M
Potential Supply
150K
Additional shares possible
Splits
2 Splits 2 Reverse
Past 2 years

Summary

HSDT currently has 55M outstanding shares. with limited dilution risk as only 150K additional shares (0.3%) are authorized for issuance. The company has significantly diluted shareholders by Infinity% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 2 stock splits (positive for accessibility) and 2 reverse splits (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Mar 31, 2026

10-K filing | 55.0M shares outstanding

55M 150K
Mar 31, 2026

POS AM filing: Solana Company files a POS AM to register $1,000,000,000 of securities, including Class A Common Stock, Preferred Stock, Debt Securities, Warrants, and Units, for sale from time to time.

4.9K 150K
Mar 31, 2026

POS AM filing: This prospectus relates to the offer and resale by selling stockholders of up to 155,646,217 shares of Class A common stock.

4.9K 150K
Nov 18, 2025

10-Q filing | 0.0M shares outstanding

4.9K 150K
Sep 18, 2025

8-K filing: Helius Medical Technologies, Inc. closed private placements of Class A common stock, pre-funded warrants, and stapled warrants, resulting in gross proceeds of approximately $508.7 million.

1.1M 150K
Aug 14, 2025

10-Q filing | 1.1M shares outstanding

1.1M 150K
Jul 01, 2025
Stock Split

8-K filing: Stock split 1-for-50 | Outstanding: 528,016 → 0

0 150K
May 23, 2025

S-1 filing: This is a filing for a best efforts public offering of 3,448,275 shares of Class A common stock and common warrants to purchase up to 3,448,275 shares of common stock, as well as pre-funded warrants to purchase up to 3,448,275 shares and placement agent warrants to purchase up to 172,413 shares.

530K 7.5M
May 01, 2025

10-Q filing | 7.6M shares outstanding

7.6M 450K
May 01, 2025
Stock Split

8-K filing: Stock split 1-for-15 | Outstanding: 3,740,625 → 500,000

500K 450K
Apr 25, 2025

8-K filing: Helius Medical Technologies, Inc. sold 1,320,150 shares of common stock in a private placement offering, with gross proceeds expected to be $1,300,000. ($1.3M proceeds)

3.7M 6.7M
Mar 25, 2025

10-K filing | 6.1M shares outstanding

6.1M 6.7M
Mar 25, 2025

S-3/A filing: This prospectus relates to the resale by the selling stockholders named herein, or their pledgees, donees, transferees or other successors in interest, from time to time, of up to 6,213,888 shares of our Class A common stock issuable upon exercise of warrants granted to certain investors.

3.7M 6.7M
Feb 07, 2025

8-K filing: Helius Medical Technologies received notice of continued non-compliance with Nasdaq's Minimum Bid Price Requirement and intends to appeal the delisting determination. Holders of existing warrants agreed to exercise their warrants to purchase 4,971,110 shares of the Company's common stock at a reduced exercise price of $0.751 per share, in exchange for new warrants to purchase up to 6,213,888 shares of common stock, subject to stockholder approval.

3.7M 6.7M
Jan 31, 2025

S-3 filing: This prospectus relates to the resale by the selling stockholders of up to 6,213,888 shares of our Class A common stock issuable upon exercise of warrants granted to certain investors in connection with warrant exercise inducement letters entered into on January 21, 2025.

3.7M 6.7M
Jan 24, 2025

8-K filing: Helius Medical Technologies, Inc. entered into warrant exercise inducement offer letters with certain holders to exercise their existing warrants for cash at a reduced price of $0.751 per share, resulting in the issuance of 4,971,110 shares of common stock and the issuance of new Series C and Series D warrants to purchase up to 6,213,888 shares of common stock. ($3.7M proceeds)

3.7M 500K
Nov 12, 2024

10-Q filing | 3.7M shares outstanding

3.7M 500K
Aug 12, 2024

10-Q filing | 0.7M shares outstanding

710K 500K
May 13, 2024

10-Q filing | 0.7M shares outstanding

710K 500K
May 09, 2024

8-K filing: Helius Medical Technologies, Inc. completed a public offering of 704,999 shares of Class A common stock and 2,147,222 pre-funded warrants, along with accompanying warrants, resulting in gross proceeds of approximately $6.4 million. ($6.42M proceeds)

890K 500K
Apr 26, 2024

S-1/A filing: Helius Medical Technologies, Inc. is offering up to 1,801,801 shares of common stock on a best effort basis, along with Series A and Series B warrants, and Pre-Funded Warrants.

890K 6M
Apr 15, 2024

S-1 filing: Helius Medical Technologies, Inc. is offering Common Stock, Series A Warrants, Series B Warrants, and Pre-Funded Warrants on a best effort basis, with Craig-Hallum Group, LLC acting as the exclusive placement agent.

890K 500K
Mar 28, 2024

10-K filing | 0.7M shares outstanding

710K 500K
Feb 09, 2024

8-K filing: Helius Medical Technologies, Inc. sold $1.6 million of its Class A common stock through an at-the-market offering program with Roth Capital Partners, LLC, resulting in the issuance and sale of 173,336 shares at an average price of $9.17 per share. ($1.6M proceeds)

890K 500K
Nov 09, 2023

10-Q filing | 0.7M shares outstanding

670K 500K
Aug 16, 2023
Stock Split

8-K filing: Stock split 1-for-50 | Outstanding: 28,219,824 → 564,396

560K 500K
Aug 10, 2023

10-Q filing | 28.2M shares outstanding

28M 25M
May 25, 2023

S-3/A filing: Helius Medical Technologies, Inc. may offer and sell an aggregate amount of up to $100,000,000 of any combination of common stock, preferred stock, debt securities, and warrants from time to time.

28M 25M
May 11, 2023

10-Q filing | 28.2M shares outstanding

28M 25M
Mar 10, 2023

S-3 filing: Helius Medical Technologies, Inc. is filing an S-3 registration statement to offer and sell up to $100,000,000 of common stock, preferred stock, debt securities, and/or warrants from time to time.

27M 25M
Mar 09, 2023

10-K filing | 28.2M shares outstanding

28M 25M
Nov 14, 2022

10-Q filing | 28.2M shares outstanding

28M 25M
Aug 15, 2022

10-Q filing | 3.9M shares outstanding

3.9M 25M
Aug 09, 2022

8-K filing: Helius Medical Technologies, Inc. closed a public offering on August 9, 2022, involving the sale of 18,560,000 shares of Class A common stock and pre-funded warrants to purchase 5,440,000 shares, along with accompanying warrants to purchase 36,000,000 shares, at a combined price of $0.75 per share and 1.5 warrants, resulting in gross proceeds of $18,000,000. ($18.0M proceeds)

3.8M 25M
Aug 04, 2022

S-1/A filing: Helius Medical Technologies, Inc. is offering up to 9,493,671 shares of common stock and warrants to purchase up to 14,240,507 shares of its common stock, as well as pre-funded warrants to certain purchasers.

3.8M 25M
Jul 27, 2022

S-1/A filing: Helius Medical Technologies, Inc. is offering up to 14,563,107 shares of common stock, public warrants to purchase up to 14,563,107 shares of common stock, and pre-funded warrants to certain purchasers, with the intention to use the net proceeds for funding operations, working capital and general corporate purposes.

3.8M 45M
Jul 13, 2022

S-1 filing: Helius Medical Technologies, Inc. is offering common stock, public warrants to purchase common stock, and pre-funded warrants to certain purchasers.

3.8M 1.5M
May 12, 2022

10-Q filing | 3.8M shares outstanding

3.8M 1.5M
Mar 14, 2022

10-K filing | 3.8M shares outstanding

3.8M 1.5M
Nov 12, 2021

8-K filing: Helius Medical Technologies, Inc. completed an offering of 1,385,031 shares of Class A common stock at a price of $8.00 per share, resulting in gross proceeds of approximately $11.08 million before deducting underwriting discounts and offering expenses. ($11.08M proceeds)

2.3M 1.5M
Nov 09, 2021

10-Q filing | 2.3M shares outstanding

2.3M 1.5M
Sep 03, 2021

S-1 filing: This S-1 filing relates to the resale of up to 731,958 shares of Class A common stock by Lincoln Park Capital Fund, LLC, including commitment shares and shares that may be sold under a purchase agreement, with potential gross proceeds of up to $15,000,000 to the company.

2.3M 1.5M
Aug 12, 2021

10-Q filing | 2.3M shares outstanding

2.3M 460K
Jul 08, 2021

8-K filing: Helius Medical Technologies, Inc. adopted the 2021 Inducement Plan, reserving 100,000 shares of Class A common stock for grants to new employees or directors.

2.3M 460K
May 17, 2021

10-Q filing | 2.3M shares outstanding

2.3M 460K
Mar 12, 2021

POS AM filing: The filing is a prospectus supplement for the offering of Class A common stock issuable upon the exercise of outstanding warrants.

2.3M 460K
Mar 10, 2021

10-K filing | 2.3M shares outstanding

2.3M 840K
Feb 01, 2021

8-K filing: Helius Medical Technologies, Inc. completed a public offering of 744,936 shares of common stock and warrants to purchase 372,468 shares of common stock, with net proceeds to the Company of approximately $9.8 million. ($9.8M proceeds)

2.3M 840K
Jan 20, 2021

S-1/A filing: This S-1/A filing includes information about a proposed offering of 259,403 shares of common stock, with 1,566,163 shares outstanding as of January 11, 2021, and a potential of 2,084,969 shares outstanding after the offering (2,344,372 if warrants are exercised).

1.6M 840K
Dec 31, 2020
Stock Split

8-K filing: Stock split 1-for-35 | Outstanding: 51,956,323 → 1,484,466

1.5M 13K
Dec 30, 2020

S-1 filing: An S-1 filing indicating an intention to offer common stock and warrants. The filing mentions an over-allotment option for additional shares of common stock and/or warrants.

52M 16M
Dec 16, 2020

S-1/A filing: This S-1/A filing details an offering of common stock by selling stockholders. It also provides information on the rights and preferences of common stock holders, preferred stock, and includes details on shares outstanding and shares issuable upon exercise of stock options and warrants.

52M 16M
Nov 25, 2020

S-1 filing: This is an S-1 filing detailing the offering of common stock by selling stockholders. It includes information about the company's common and preferred stock, voting rights, dividends, liquidation preferences, and risk factors.

52M 16M
Nov 12, 2020

10-Q filing | 51.9M shares outstanding

52M 6.3M
Oct 26, 2020

8-K filing: Helius Medical Technologies, Inc. completed a private placement on October 26, 2020, issuing 6,567,868 shares of Class A common stock and warrants to purchase 3,283,936 shares at $0.52 per unit, raising gross proceeds of approximately $3.4 million. ($3.4M proceeds)

41M 6.3M
Sep 15, 2020

S-1 filing: This S-1 filing relates to the resale of 6,257,144 shares of Class A Common Stock issuable upon exercise of warrants by selling stockholders.

41M 6.3M
Aug 12, 2020

10-Q filing | 40.6M shares outstanding

41M 0
May 11, 2020

10-Q filing | 38.0M shares outstanding

38M 0
Mar 18, 2020

8-K filing: Helius Medical Technologies, Inc. entered into a securities purchase agreement to sell and issue 6,257,144 shares of Class A Common Stock at $0.35 per share in a registered direct offering, with gross proceeds of approximately $2.2 million, and to sell and issue warrants to purchase up to 6,257,144 shares of Common Stock in a concurrent private placement. ($2.2M proceeds)

32M 0
Mar 12, 2020

10-K filing | 31.8M shares outstanding

32M 0
Jan 27, 2020

S-3 filing: The filing is an S-3 registration statement for a shelf offering of up to $100,000,000 of Class A Common Stock, Preferred Stock, and Debt Securities, with the possibility of securities issuable upon conversion, redemption, repurchase, exchange, or exercise of registered securities.

N/A 0
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