$AWH
Aspira Women's Health Inc.

2022 Q4 Form 10-Q Financial Statement

#000092661722000058 Filed on November 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $2.153M $2.072M $1.666M
YoY Change 16.32% 24.37% 34.46%
Cost Of Revenue $917.0K $916.0K $917.0K
YoY Change 9.56% -0.11% 13.63%
Gross Profit $1.236M $1.156M $749.0K
YoY Change 21.89% 54.34% 73.38%
Gross Profit Margin 57.41% 55.79% 44.96%
Selling, General & Admin $5.799M $8.696M $8.922M
YoY Change -31.83% -2.53% 116.66%
% of Gross Profit 469.17% 752.25% 1191.19%
Research & Development $1.038M $2.157M $1.518M
YoY Change -28.56% 42.09% 155.13%
% of Gross Profit 83.98% 186.59% 202.67%
Depreciation & Amortization $69.00K $67.00K $66.00K
YoY Change 7.81% 1.52% -5.71%
% of Gross Profit 5.58% 5.8% 8.81%
Operating Expenses $6.837M $10.85M $10.44M
YoY Change -31.36% 3.96% 121.51%
Operating Profit -$5.601M -$9.697M -$9.691M
YoY Change -37.39% 0.06% 126.37%
Interest Expense $27.00K $5.022M -$14.00K
YoY Change -307.69% -35971.43% -240.0%
% of Operating Profit
Other Income/Expense, Net $473.0K $117.0K -$2.000K
YoY Change -23750.0% -5950.0% -81.82%
Pretax Income -$5.101M -$4.558M -$9.707M
YoY Change -43.08% -53.04% 126.27%
Income Tax
% Of Pretax Income
Net Earnings -$5.101M -$4.558M -$9.707M
YoY Change -43.08% -53.04% 126.43%
Net Earnings / Revenue -236.93% -219.98% -582.65%
Basic Earnings Per Share -$0.04 -$0.09
Diluted Earnings Per Share -$0.04 -$0.04 -$86.61K
COMMON SHARES
Basic Shares Outstanding 124.4M 112.3M 112.1M
Diluted Shares Outstanding 117.1M 112.1M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.31M $20.55M $44.87M
YoY Change -64.21% -54.2% 138.67%
Cash & Equivalents $13.31M $20.55M $44.87M
Short-Term Investments
Other Short-Term Assets $1.442M $944.0K $1.078M
YoY Change -11.21% -12.43% 115.6%
Inventory $316.0K $280.0K $137.0K
Prepaid Expenses
Receivables $1.245M $1.201M $1.103M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $16.31M $22.98M $47.19M
YoY Change -59.23% -51.31% 133.02%
LONG-TERM ASSETS
Property, Plant & Equipment $650.0K $417.0K $498.0K
YoY Change 40.09% -16.27% -50.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $414.0K $250.0K $0.00
YoY Change 2857.14%
Total Long-Term Assets $1.064M $966.0K $859.0K
YoY Change -0.93% 12.46% -15.29%
TOTAL ASSETS
Total Short-Term Assets $16.31M $22.98M $47.19M
Total Long-Term Assets $1.064M $966.0K $859.0K
Total Assets $17.37M $23.94M $48.05M
YoY Change -57.71% -50.17% 125.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $881.0K $1.893M $1.155M
YoY Change -41.31% 63.9% -12.17%
Accrued Expenses $3.727M $4.988M $4.998M
YoY Change -29.67% -0.2% 77.55%
Deferred Revenue
YoY Change
Short-Term Debt $764.0K $0.00 $0.00
YoY Change -1.93% -100.0%
Long-Term Debt Due $403.0K $343.0K $200.0K
YoY Change 100.5% 71.5%
Total Short-Term Liabilities $5.775M $7.297M $6.409M
YoY Change -26.34% 13.86% 39.33%
LONG-TERM LIABILITIES
Long-Term Debt $2.315M $2.426M $2.768M
YoY Change -14.83% -12.36% 62.82%
Other Long-Term Liabilities $2.552M $3.041M $366.0K
YoY Change 631.23% 730.87% -8.5%
Total Long-Term Liabilities $4.867M $2.426M $2.768M
YoY Change 79.07% -12.36% 31.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.775M $7.297M $6.409M
Total Long-Term Liabilities $4.867M $2.426M $2.768M
Total Liabilities $10.64M $12.76M $9.543M
YoY Change -2.43% 33.75% 42.43%
SHAREHOLDERS EQUITY
Retained Earnings -$498.9M -$493.8M -$462.8M
YoY Change 5.76% 6.71% 6.63%
Common Stock $125.0K $124.0K $112.0K
YoY Change 11.61% 10.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.731M $11.18M $38.50M
YoY Change
Total Liabilities & Shareholders Equity $17.37M $23.94M $48.05M
YoY Change -57.71% -50.17% 125.57%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$5.101M -$4.558M -$9.707M
YoY Change -43.08% -53.04% 126.43%
Depreciation, Depletion And Amortization $69.00K $67.00K $66.00K
YoY Change 7.81% 1.52% -5.71%
Cash From Operating Activities -$7.076M -$8.632M -$8.001M
YoY Change -7.49% 7.89% 160.62%
INVESTING ACTIVITIES
Capital Expenditures $74.00K -$53.00K -$18.00K
YoY Change -346.67% 194.44% -88.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$74.00K -$53.00K -$18.00K
YoY Change 146.67% 194.44% -88.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -94.00K 8.756M 146.0K
YoY Change 754.55% 5897.26% -98.69%
NET CHANGE
Cash From Operating Activities -7.076M -8.632M -8.001M
Cash From Investing Activities -74.00K -53.00K -18.00K
Cash From Financing Activities -94.00K 8.756M 146.0K
Net Change In Cash -7.244M 71.00K -7.873M
YoY Change -5.8% -100.9% -199.78%
FREE CASH FLOW
Cash From Operating Activities -$7.076M -$8.632M -$8.001M
Capital Expenditures $74.00K -$53.00K -$18.00K
Free Cash Flow -$7.150M -$8.579M -$7.983M
YoY Change -6.16% 7.47% 173.39%

Facts In Submission

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<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; and (4) Aspira Synergy, the Company’s decentralized testing platform and cloud service for decentralized global access of protein biomarker testing. The Company continues to make Ova1, Overa, and Ova1Plus, and plans to make future technology available through Aspira Synergy. The Company’s Ova1 test received FDA de novo classification in September 2009. Ova1 comprises instruments, assays, reagents, and the OvaCalc software, which includes a proprietary algorithm that produces a risk score. The Company’s Overa test, which includes an updated version of OvaCalc, received FDA 510(k) clearance in March 2016. Ova1 and Overa each use the Roche Cobas 4000, 6000 and 8000 platforms for analysis of proteins.</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 these sources (in addition to revenue from Aspira GenetiX) is included in total revenue in the results of operations for the nine months ended September 30, 2022.</span></p>
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