ProSomnus, Inc.
prosomnus.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Jul 31, 2024. Its latest SEC filing is a SC 13G/A from Nov 13, 2024.
10-Q for Q2 FY2024, filed Jul 31, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Sells personalized oral devices for treating obstructive sleep apnea to sleep physicians and therapy providers.
10-K for FY2023, filed Mar 27, 2024
How Did They Make Money?
Customers order customized intraoral devices by submitting a prescription and oral scan; the company earns revenue when it delivers the completed device.
10-K for FY2023, filed Mar 27, 2024The Company creates customized precision milled intraoral medical devices and recognizes revenue upon meeting the following criteria:View ↗
Identifying the contract with a customer: Customers submit an order in the form of a prescription and oral scan to the Company.View ↗
Identifying the performance obligations within the contract: The sole performance obligation is the delivery of a completed customized…View ↗
$27.7M
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10-K for FY2023, filed Mar 27, 2024
$27.7M ↗
Who Were Their Customers?
Sells directly through its sales force to sleep-medicine physicians and therapy providers, including dentists and other clinicians.
10-K for FY2023, filed Mar 27, 2024
Did Revenues Turn Into Profits?
No. It lost $24.1M in FY2023.
10-K for FY2023, filed Mar 27, 2024
−$19.1MView ↗
10-K for FY2023, filed Mar 27, 2024
−$24.1MView ↗
10-K for FY2023, filed Mar 27, 2024
−$17.6MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q2 FY2024, filed Jul 31, 2024
−$15.2MView ↗
- ▼ Now a loss
- vs $905K in Q2 FY2023
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Jul 31, 2024
Bankruptcy court confirmed the reorganization plan; existing shares will be canceled
The plan says common stock and warrants will be canceled with no distribution, and the company will cease to be publicly traded.
Sources
8-K, filed Jul 31, 2024
On July 30, 2024, the Bankruptcy Court entered an order (the “Confirmation Order”), confirming the Plan. A copy of the Confirmation Order…View ↗
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May 8, 2024
Company filed for Chapter 11 and agreed to a restructuring
The proposed plan included debtor-in-possession loans and a possible new-money equity raise.
Sources
8-K, filed May 8, 2024
As set forth in the RSA, the Company and the Sponsoring Noteholders have agreed to the principal terms of a voluntary restructuring of the…View ↗
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Apr 30, 2024
Nasdaq initiated delisting of the company's securities
Trading was suspended on Nasdaq, and the company said its securities moved to over-the-counter trading.
Sources
8-K, filed Apr 30, 2024
As previously disclosed on the Form 8-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 18, 2024, the Nasdaq…View ↗
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