$ELUT
ELUTIA INC.

2023 Q4 Form 10-K Financial Statement

#000155837024002864 Filed on March 11, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $5.875M $24.75M
YoY Change -53.61% -49.69%
Cost Of Revenue $3.749M $13.69M
YoY Change -51.13% -54.31%
Gross Profit $2.126M $11.05M
YoY Change -57.43% -42.5%
Gross Profit Margin 36.19% 44.67%
Selling, General & Admin $6.540M $27.19M
YoY Change -22.7% -26.16%
% of Gross Profit 307.62% 246.01%
Research & Development $1.383M $4.399M
YoY Change -33.67% -50.79%
% of Gross Profit 65.05% 39.8%
Depreciation & Amortization $894.0K $3.748M
YoY Change -4.59% 0.4%
% of Gross Profit 42.05% 33.91%
Operating Expenses $7.923M $41.58M
YoY Change -24.86% -18.41%
Operating Profit -$5.797M -$30.53M
YoY Change 4.43% -3.82%
Interest Expense -$1.511M $5.796M
YoY Change -3.2% 9.73%
% of Operating Profit
Other Income/Expense, Net -$5.211M -$4.899M
YoY Change -205.02% -217.79%
Pretax Income -$15.23M -$41.22M
YoY Change 179.86% 25.43%
Income Tax -$8.000K $28.00K
% Of Pretax Income
Net Earnings -$9.314M -$37.70M
YoY Change 71.21% 14.59%
Net Earnings / Revenue -158.54% -152.35%
Basic Earnings Per Share -$2.07
Diluted Earnings Per Share -$0.40 -$2.07
COMMON SHARES
Basic Shares Outstanding 18.16M
Diluted Shares Outstanding 18.16M

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.28M $19.28M
YoY Change 13.46% 13.46%
Cash & Equivalents $19.28M
Short-Term Investments
Other Short-Term Assets $2.165M $2.165M
YoY Change -28.19% -28.19%
Inventory $3.853M $3.853M
Prepaid Expenses
Receivables $3.263M $3.263M
Other Receivables $2.696M $2.696M
Total Short-Term Assets $31.25M $31.25M
YoY Change -38.36% -38.36%
LONG-TERM ASSETS
Property, Plant & Equipment $172.0K $172.0K
YoY Change -87.74% -87.74%
Goodwill
YoY Change
Intangibles $11.67M
YoY Change -22.55%
Long-Term Investments
YoY Change
Other Assets $332.0K $332.0K
YoY Change -80.12% -80.12%
Total Long-Term Assets $12.18M $12.18M
YoY Change -32.89% -32.89%
TOTAL ASSETS
Total Short-Term Assets $31.25M $31.25M
Total Long-Term Assets $12.18M $12.18M
Total Assets $43.43M $43.43M
YoY Change -36.92% -36.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.285M $2.285M
YoY Change -1.85% -1.85%
Accrued Expenses $9.485M $9.760M
YoY Change -6.12% -9.5%
Deferred Revenue
YoY Change
Short-Term Debt $3.321M $0.00
YoY Change
Long-Term Debt Due $3.321M $3.321M
YoY Change
Total Short-Term Liabilities $43.04M $43.04M
YoY Change 0.99% 0.99%
LONG-TERM LIABILITIES
Long-Term Debt $20.36M $20.36M
YoY Change -16.09% -16.09%
Other Long-Term Liabilities $515.0K $18.64M
YoY Change 305.51% 166.25%
Total Long-Term Liabilities $20.87M $38.99M
YoY Change -14.42% 24.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $43.04M $43.04M
Total Long-Term Liabilities $20.87M $38.99M
Total Liabilities $82.03M $82.03M
YoY Change 11.04% 11.04%
SHAREHOLDERS EQUITY
Retained Earnings -$175.6M
YoY Change 27.25%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$38.60M -$38.60M
YoY Change
Total Liabilities & Shareholders Equity $43.43M $43.43M
YoY Change -36.92% -36.92%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$9.314M -$37.70M
YoY Change 71.21% 14.59%
Depreciation, Depletion And Amortization $894.0K $3.748M
YoY Change -4.59% 0.4%
Cash From Operating Activities -$9.083M -$21.80M
YoY Change 73.17% 1.87%
INVESTING ACTIVITIES
Capital Expenditures $17.00K $346.0K
YoY Change -87.31% -35.93%
Acquisitions
YoY Change
Other Investing Activities $14.55M $14.55M
YoY Change
Cash From Investing Activities $14.54M $14.21M
YoY Change -10948.51% -2731.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -695.0K 9.840M
YoY Change -104.87% 15.29%
NET CHANGE
Cash From Operating Activities -9.083M -21.80M
Cash From Investing Activities 14.54M 14.21M
Cash From Financing Activities -695.0K 9.840M
Net Change In Cash 4.759M 2.248M
YoY Change -46.46% -116.77%
FREE CASH FLOW
Cash From Operating Activities -$9.083M -$21.80M
Capital Expenditures $17.00K $346.0K
Free Cash Flow -$9.100M -$22.15M
YoY Change 69.18% 0.94%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates and assumptions relating to inventories, receivables, long-lived assets, the valuation of stock-based awards, the valuation of the revenue interest obligation, the valuation of the warrant liability, the contingent liability for the FiberCel Litigation and deferred income taxes are made at the end of each financial reporting period by management. Management continually re-evaluates its estimates, judgments and assumptions, and management's evaluation could change. Actual results could differ from those estimates.</p>
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