$AWH
Aspira Women's Health Inc.

2022 Q3 Form 10-Q Financial Statement

#000092661722000052 Filed on August 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $2.072M $2.066M $1.893M
YoY Change 24.37% 14.84% 26.54%
Cost Of Revenue $916.0K $1.100M $932.0K
YoY Change -0.11% -0.27% 4.37%
Gross Profit $1.156M $966.0K $961.0K
YoY Change 54.34% 38.79% 59.37%
Gross Profit Margin 55.79% 46.76% 50.77%
Selling, General & Admin $8.696M $7.776M $8.860M
YoY Change -2.53% 6.56% 57.74%
% of Gross Profit 752.25% 804.97% 921.96%
Research & Development $2.157M $1.410M $1.348M
YoY Change 42.09% -4.15% 54.59%
% of Gross Profit 186.59% 145.96% 140.27%
Depreciation & Amortization $67.00K $64.00K $64.00K
YoY Change 1.52% -21.95% -28.89%
% of Gross Profit 5.8% 6.63% 6.66%
Operating Expenses $10.85M $9.186M $10.21M
YoY Change 3.96% 4.77% 57.31%
Operating Profit -$9.697M -$8.220M -$9.247M
YoY Change 0.06% 1.83% 57.1%
Interest Expense $5.022M -$10.00K -$18.00K
YoY Change -35971.43% -433.33% -10.0%
% of Operating Profit
Other Income/Expense, Net $117.0K -$13.00K -$3.000K
YoY Change -5950.0% -101.31% -70.0%
Pretax Income -$4.558M -$8.243M -$9.268M
YoY Change -53.04% 16.53% 56.55%
Income Tax
% Of Pretax Income
Net Earnings -$4.558M -$8.243M -$9.268M
YoY Change -53.04% 16.53% 56.55%
Net Earnings / Revenue -219.98% -398.98% -489.59%
Basic Earnings Per Share -$0.04 -$0.07 -$1.24
Diluted Earnings Per Share -$0.04 -$0.07 -$82.65K
COMMON SHARES
Basic Shares Outstanding 112.3M 112.2M 112.1M
Diluted Shares Outstanding 117.1M 112.2M 7.476M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.55M $20.48M $26.86M
YoY Change -54.2% -61.35% -54.79%
Cash & Equivalents $20.55M $20.48M $26.86M
Short-Term Investments
Other Short-Term Assets $944.0K $1.173M $1.620M
YoY Change -12.43% 58.51% 62.0%
Inventory $280.0K $191.0K $189.0K
Prepaid Expenses
Receivables $1.201M $1.112M $1.136M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $22.98M $22.96M $29.80M
YoY Change -51.31% -58.19% -51.44%
LONG-TERM ASSETS
Property, Plant & Equipment $417.0K $438.0K $480.0K
YoY Change -16.27% -19.78% -9.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $250.0K $57.00K $250.0K
YoY Change
Total Long-Term Assets $966.0K $1.060M $1.061M
YoY Change 12.46% 14.97% 14.83%
TOTAL ASSETS
Total Short-Term Assets $22.98M $22.96M $29.80M
Total Long-Term Assets $966.0K $1.060M $1.061M
Total Assets $23.94M $24.02M $30.86M
YoY Change -50.17% -56.98% -50.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.893M $1.374M $1.298M
YoY Change 63.9% -4.32% -18.21%
Accrued Expenses $4.988M $5.059M $4.035M
YoY Change -0.2% 29.72% 16.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $260.0K $519.0K
YoY Change 27.45% 29.75%
Long-Term Debt Due $343.0K $283.0K $223.0K
YoY Change 71.5% 42.21% 10.95%
Total Short-Term Liabilities $7.297M $7.044M $6.139M
YoY Change 13.86% 21.64% 0.64%
LONG-TERM LIABILITIES
Long-Term Debt $2.426M $2.536M $2.646M
YoY Change -12.36% -10.01% -2.65%
Other Long-Term Liabilities $3.041M $314.0K $332.0K
YoY Change 730.87% -17.8% -17.0%
Total Long-Term Liabilities $2.426M $2.536M $2.646M
YoY Change -12.36% -10.01% -2.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.297M $7.044M $6.139M
Total Long-Term Liabilities $2.426M $2.536M $2.646M
Total Liabilities $12.76M $9.894M $9.117M
YoY Change 33.75% 10.04% -8.83%
SHAREHOLDERS EQUITY
Retained Earnings -$493.8M -$489.2M -$481.0M
YoY Change 6.71% 7.99% 7.85%
Common Stock $124.0K $112.0K $112.0K
YoY Change 10.71% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.18M $14.12M $21.74M
YoY Change
Total Liabilities & Shareholders Equity $23.94M $24.02M $30.86M
YoY Change -50.17% -56.98% -50.46%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$4.558M -$8.243M -$9.268M
YoY Change -53.04% 16.53% 56.55%
Depreciation, Depletion And Amortization $67.00K $64.00K $64.00K
YoY Change 1.52% -21.95% -28.89%
Cash From Operating Activities -$8.632M -$6.304M -$10.17M
YoY Change 7.89% -2.79% 93.59%
INVESTING ACTIVITIES
Capital Expenditures -$53.00K -$23.00K $82.00K
YoY Change 194.44% -76.04% 100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$53.00K -$23.00K -$82.00K
YoY Change 194.44% -76.04% 100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.756M -48.00K -70.00K
YoY Change 5897.26% -122.54% -100.15%
NET CHANGE
Cash From Operating Activities -8.632M -6.304M -10.17M
Cash From Investing Activities -53.00K -23.00K -82.00K
Cash From Financing Activities 8.756M -48.00K -70.00K
Net Change In Cash 71.00K -6.375M -10.33M
YoY Change -100.9% 0.11% -124.16%
FREE CASH FLOW
Cash From Operating Activities -$8.632M -$6.304M -$10.17M
Capital Expenditures -$53.00K -$23.00K $82.00K
Free Cash Flow -$8.579M -$6.281M -$10.26M
YoY Change 7.47% -1.69% 93.64%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
EntityRegistrantName
Aspira Women’s Health Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
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12117 Bee Caves Road
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Building Three
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Suite 100
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48243000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-16700000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
36362000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37430000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16631000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20730000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
52993000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
20480000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
52993000
CY2022Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
250000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20730000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
52993000
us-gaap Interest Paid Net
InterestPaidNet
38000
us-gaap Interest Paid Net
InterestPaidNet
38000
awh Net Increase In Right Of Use Assets
NetIncreaseInRightOfUseAssets
-31000
awh Net Increase In Right Of Use Assets
NetIncreaseInRightOfUseAssets
-30000
us-gaap Notes Reduction
NotesReduction
1006000
us-gaap Nature Of Operations
NatureOfOperations
<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: italic;font-weight: bold;margin: 0;padding: 0;">Organization </span><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0.06in;margin-top: 0;text-indent: 0.50in;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">Aspira Women’s Health Inc., formerly known as Vermillion, Inc. (“Aspira” and its wholly-owned subsidiaries are collectively referred to as the “Company</span><span id="BKMK_206" style="text-decoration: none;"/><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">”) is incorporated in the state of Delaware, and is engaged in the business of developing and commercializing diagnostic tests for gynecologic disease. The Company currently markets and sells the following products and related services: (1) OVA1, a blood test intended as an aid to further assess the likelihood of malignancy in women with an ovarian adnexal mass for which surgery is planned when the physician’s independent clinical and radiological evaluation does not indicate malignancy; (2) OVERA, a second-generation biomarker reflex intended to maintain OVA1’s high sensitivity while improving specificity; (3) OVA1plus, a reflex offering which uses OVA1 as the primary test and OVERA as a confirmation for OVA1 intermediate range results; (4) Aspira GenetiX, a genetic test for hereditary gynecologic cancer risk, with a core focus on hereditary female reproductive cancers, including breast, ovarian, endometrial, uterine and cervical cancers; and (5) Aspira Synergy, the Company’s testing platform and cloud service for testing. The Company plans to make OVA1, OVERA, OVA1plus and Aspira GenetiX and future technology available through Aspira Synergy.  In 2021, the Company began entering into decentralized arrangements with large healthcare networks and large practices for its Aspira Synergy platform offering specialty and genetic testing solutions.</span><span style="white-space:pre-wrap; font-family: 'Segoe UI', 'sans-serif';font-size: 9pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">Revenue from all of these sources is included in the results of operations in total revenue for the six months ended June 30, 2022.</span></p>
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
20480000
CY2022Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
250000
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-489239000
CY2022Q2 awh Working Capital
WorkingCapital
15912000
us-gaap Net Income Loss
NetIncomeLoss
-17511000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-16477000
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2021Q2 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
0
CY2022Q2 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
0
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
2819000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
2919000
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
283000
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
201000
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2536000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2718000
CY2022Q2 us-gaap Contractual Obligation
ContractualObligation
2832000
CY2022Q2 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
103000
CY2022Q2 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
406000
CY2022Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
452000
CY2022Q2 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
461000
CY2022Q2 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
341000
CY2022Q2 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
1069000
CY2022Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2786000
CY2021Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2652000
CY2022Q2 awh Collaboration And Research Agreement Costs
CollaborationAndResearchAgreementCosts
429000
CY2021Q4 awh Collaboration And Research Agreement Costs
CollaborationAndResearchAgreementCosts
382000
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1221000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1992000
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
623000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
273000
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5059000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5299000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
50000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
106000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
116000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
124000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
64000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
460000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
78000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
382000
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0932
CY2022Q2 us-gaap Royalty Expense
RoyaltyExpense
81000
CY2021Q2 us-gaap Royalty Expense
RoyaltyExpense
69000
CY2022Q1 us-gaap Severance Costs1
SeveranceCosts1
1284000
awh Insurance Reimbursement Including Not Paid
InsuranceReimbursementIncludingNotPaid
523000
us-gaap Insurance Recoveries
InsuranceRecoveries
433000
CY2022Q2 us-gaap Prepaid Insurance
PrepaidInsurance
90000
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
90000

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