2024 Q2 Form 10-Q Financial Statement

#000149315224019428 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $4.160M $3.603M $100.0M
YoY Change 69.24% -37.98% 55148.62%
Cost Of Revenue $769.0K $684.0K $954.0K
YoY Change -66.46% -50.29% 148.44%
Gross Profit $3.391M $2.919M $3.885M
YoY Change 1955.15% -34.15% -2013.79%
Gross Profit Margin 81.51% 81.02% 3.89%
Selling, General & Admin $4.510M $5.169M $5.882M
YoY Change -36.47% -30.82% -42.1%
% of Gross Profit 133.0% 177.08% 151.4%
Research & Development $270.0K $594.0K $1.383M
YoY Change -32.84% 10.0% -18.17%
% of Gross Profit 7.96% 20.35% 35.6%
Depreciation & Amortization $7.000K $12.00K $22.00K
YoY Change -95.95% -95.1% -91.2%
% of Gross Profit 0.21% 0.41% 0.57%
Operating Expenses $4.780M $5.763M $7.265M
YoY Change -36.28% -28.07% -38.69%
Operating Profit -$1.389M -$2.844M -$3.380M
YoY Change -81.07% -20.54% -71.95%
Interest Expense $3.306M $564.0K $1.853M
YoY Change -3693.48% -0.18% -58.72%
% of Operating Profit
Other Income/Expense, Net $2.748M -$1.965M -$587.0K
YoY Change -325.43% -260.02% -23.27%
Pretax Income $1.359M -$4.809M -$2.114M
YoY Change -115.89% 104.55% -74.62%
Income Tax $8.000K $0.00
% Of Pretax Income 0.59%
Net Earnings $1.351M -$4.809M -$5.098M
YoY Change -115.79% 104.29% -55.59%
Net Earnings / Revenue 32.48% -133.47% -5.1%
Basic Earnings Per Share $0.02 -$0.16
Diluted Earnings Per Share $0.00 -$0.16 -$0.43
COMMON SHARES
Basic Shares Outstanding 62.06M shares 45.94M shares 10.73M shares
Diluted Shares Outstanding 1.614B shares 31.19M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $1.537M $1.311M $1.775M
YoY Change -51.11% -56.2% -48.18%
Inventory $1.060M $1.306M $1.697M
Prepaid Expenses
Receivables $4.617M $4.306M $5.738M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $7.214M $6.923M $9.210M
YoY Change -39.96% -58.08% -27.47%
LONG-TERM ASSETS
Property, Plant & Equipment $1.187M $1.200M $1.203M
YoY Change -28.84% -67.55% -69.47%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $36.00K $35.00K $35.00K
YoY Change -81.54% -98.18% -99.15%
Total Long-Term Assets $1.337M $1.294M $1.344M
YoY Change -35.03% -86.41% -89.22%
TOTAL ASSETS
Total Short-Term Assets $7.214M $6.923M $9.210M
Total Long-Term Assets $1.337M $1.294M $1.344M
Total Assets $8.551M $8.217M $10.55M
YoY Change -39.24% -68.44% -58.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.03M $16.29M $17.02M
YoY Change -6.52% -13.32% 13.59%
Accrued Expenses $4.752M $4.575M $4.227M
YoY Change 12.71% 32.46% 2.5%
Deferred Revenue $3.600M $3.200M $3.200M
YoY Change
Short-Term Debt $397.0K $0.00 $0.00
YoY Change
Long-Term Debt Due $42.89M $42.35M $43.27M
YoY Change -0.27% -16.36% -34.13%
Total Short-Term Liabilities $73.18M $74.24M $72.46M
YoY Change 4.97% -6.98% -22.77%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.000K $4.000K $8.000K
YoY Change -95.45% -99.85% -99.74%
Total Long-Term Liabilities $1.000K $4.000K $8.000K
YoY Change -95.45% -99.85% -99.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $73.18M $74.24M $72.46M
Total Long-Term Liabilities $1.000K $4.000K $8.000K
Total Liabilities $73.18M $74.24M $72.47M
YoY Change 4.93% -9.94% -25.26%
SHAREHOLDERS EQUITY
Retained Earnings -$892.3M -$893.6M -$888.7M
YoY Change -6.03% -5.04% -5.33%
Common Stock $8.000K $5.000K $2.000K
YoY Change -100.0% -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$69.32M -$70.67M -$66.51M
YoY Change
Total Liabilities & Shareholders Equity $8.551M $8.217M $10.55M
YoY Change -39.24% -68.44% -58.06%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $1.351M -$4.809M -$5.098M
YoY Change -115.79% 104.29% -55.59%
Depreciation, Depletion And Amortization $7.000K $12.00K $22.00K
YoY Change -95.95% -95.1% -91.2%
Cash From Operating Activities -$1.141M $123.0K -$170.0K
YoY Change -23.63% -102.49% -97.4%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $14.00K $0.00
YoY Change -100.0% 366.67% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$14.00K $0.00
YoY Change -100.0% 366.67% -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 1.144M 340.0K
YoY Change 91.62% -77.33%
NET CHANGE
Cash From Operating Activities -1.141M $123.0K -170.0K
Cash From Investing Activities 0.000 -$14.00K 0.000
Cash From Financing Activities 1.144M 340.0K
Net Change In Cash 3.000K $109.0K 170.0K
YoY Change -100.33% -103.36% -103.36%
FREE CASH FLOW
Cash From Operating Activities -$1.141M $123.0K -$170.0K
Capital Expenditures $0.00 $14.00K $0.00
Free Cash Flow -$1.141M $109.0K -$170.0K
YoY Change -23.68% -102.21% -97.41%

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CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
123000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4940000 usd
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-14000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3000 usd
CY2023Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
61000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1640000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1701000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
109000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3242000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
580000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4776000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
689000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1534000 usd
CY2024Q1 EVFM Issuance Of Common Stock Upon Exercise Of Purchase Rights
IssuanceOfCommonStockUponExerciseOfPurchaseRights
-89000 usd
CY2023Q1 EVFM Issuance Of Common Stock Upon Exercise Of Purchase Rights
IssuanceOfCommonStockUponExerciseOfPurchaseRights
-180000 usd
CY2024Q1 EVFM Purchases Of Property And Equipment Included In Accounts Payable And Accrued Expenses
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedExpenses
78000 usd
CY2023Q1 EVFM Purchases Of Property And Equipment Included In Accounts Payable And Accrued Expenses
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedExpenses
140000 usd
CY2024Q1 EVFM Series E1 Shares Dividends
SeriesE1SharesDividends
47000 usd
CY2024Q1 EVFM Issuance Of Common Stock Upon Conversion Of Notes
IssuanceOfCommonStockUponConversionOfNotes
-35000 usd
CY2024Q1 EVFM Issuance Of Common Stock Upon Exercise Of Warrants
IssuanceOfCommonStockUponExerciseOfWarrants
15000 usd
CY2023Q1 EVFM Financing Costs Included In Accounts Payable And Accrued Expenses
FinancingCostsIncludedInAccountsPayableAndAccruedExpenses
-125000 usd
CY2024Q1 EVFM Working Capital Surplus Deficit
WorkingCapitalSurplusDeficit
67300000 usd
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-893600000 usd
CY2022Q4 us-gaap Share Price
SharePrice
0.01
CY2022Q4 us-gaap Share Price
SharePrice
0.01
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_zCqrr10Ckam8" style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_865_zVGGG9WZu46c">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and the notes thereto.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant estimates affecting amounts reported or disclosed in the condensed consolidated financial statements include, but are not limited to: the assumptions used in measuring the revenue gross-to-net variable consideration items; the trade accounts receivable credit loss reserve estimate; the assumptions used in estimating the fair value of convertible notes, preferred stock, warrants and purchase rights issued; the assumptions used in the valuation of inventory; the useful lives of property and equipment; the recoverability of long-lived assets; and the valuation of deferred tax assets. These assumptions are more fully described in <a href="#nt_003">Note 3 – Revenue</a>, <a href="#nt_004">Note 4 – Debt</a>, <a href="#nt_06">Note 6 - Fair Value of Financial Instruments</a>, <a href="#nt_07">Note 7 - Commitments and Contingencies</a>, and <a href="#nt_009">Note 9 - Stock-based Compensation</a>. The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances and adjusts when facts and circumstances dictate. The estimates are the basis for making judgments about the carrying values of assets, liabilities and recorded expenses that are not readily apparent from other sources. As future events and their effects cannot be determined with precision, actual results may materially differ from those estimates or assumptions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_842_eus-gaap--ConcentrationRiskCreditRisk_zWu1V2jlnDCe" style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86C_z3AgLRBhskZe">Concentrations of Credit Risk</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents and restricted cash. Deposits in the Company’s checking, time deposit and investment accounts are maintained in federally insured financial institutions and are subject to federally insured limits or limits set by Securities Investor Protection Corporation. The Company invests in funds through a major U.S. bank and is exposed to credit risk in the event of default to the extent of amounts recorded on the condensed consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has not experienced any losses in such accounts and believes it is not exposed to significant concentrations of credit risk on its cash, cash equivalents and restricted cash balances on amounts in excess of federally insured limits due to the financial position of the depository institutions in which these deposits are held. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is also subject to credit risk related to its trade accounts receivable from product sales. Its customers are located in the U.S. and consist of wholesale distributors, retail pharmacies, and mail-order specialty pharmacies. The Company extends credit to its customers in the normal course of business after evaluating their overall financial condition and evaluates the collectability of its accounts receivable by periodically reviewing the age of the receivables, the financial condition of its customers, and its past collection experience. Historically, the Company has not experienced any credit losses. As of March 31, 2024, based on the evaluation of these factors the Company did not record an allowance for doubtful accounts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Phexxi is distributed primarily through three major distributors and mail-order pharmacies, who receive service fees calculated as a percentage of the gross sales, and a fee-per-unit shipped, respectively. These entities are not obligated to purchase any set number of units. They distribute Phexxi on demand as orders are received.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended March 31, 2024, and 2023, the Company’s three largest customers combined made up approximately <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--ThreeLargestCustomersCombinedMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zEFI0fVscx7l">82</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% and <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--ThreeLargestCustomersCombinedMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zOzBCE6AZoGc">86</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of its gross product sales, respectively. As of March 31, 2024 and December 31, 2023, the Company’s three largest customers combined made up <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--FourLargestCustomersCombinedMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zsUsEP07xuy5">89</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% and <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--FourLargestCustomersCombinedMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zIOetNBd5o8a">87</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%, respectively, of its trade accounts receivable balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Proceeds From Convertible Debt
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25000000.0 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
639000 usd
CY2024Q1 us-gaap Restricted Cash Current
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689000 usd
CY2023Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
895000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
689000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1534000 usd
CY2023Q1 us-gaap Warrant Down Round Feature Decrease In Net Income Loss To Common Shareholder Amount
WarrantDownRoundFeatureDecreaseInNetIncomeLossToCommonShareholderAmount
0 usd
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5513316258 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
35466940 shares
CY2024Q1 EVFM Product Revenue Variable Consideration Liability Current
ProductRevenueVariableConsiderationLiabilityCurrent
200000 usd
CY2023Q4 EVFM Product Revenue Variable Consideration Liability Current
ProductRevenueVariableConsiderationLiabilityCurrent
300000 usd
CY2024Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
3200000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
3200000 usd
CY2021Q4 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
50000000 usd
CY2023Q2 EVFM Milestone Method Revenue Recognized
MilestoneMethodRevenueRecognized
100000000.0 usd
CY2024Q1 us-gaap Shares Issued Price Per Share
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CY2023Q1 us-gaap Debt Instrument Periodic Payment
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92700000 usd
CY2023Q2 EVFM Milestone Method Revenue Recognized
MilestoneMethodRevenueRecognized
100000000.0 usd
CY2023Q3 EVFM Cumulative Net Sales
CumulativeNetSales
100000000 usd
CY2023Q3 EVFM Accrued Interest Agreement Percentage
AccruedInterestAgreementPercentage
0.10 pure
CY2023Q4 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
1000000.0 usd
CY2023Q3 us-gaap Long Term Debt Contingent Payment Of Principal Or Interest
LongTermDebtContingentPaymentOfPrincipalOrInterest
The cash payments will be determined based upon the quarterly global net revenue of Phexxi such that if the global net revenue is less than or equal to $5.0 million, the Company will pay 3% of such global net revenues; if the global net revenue is over $5.0 million and less than or equal to $7.0 million, the Company will continue to pay 3% on net revenue up to $5.0 million and 4% on the net revenue over $5.0 million; and if the global net revenue is over $7.0 million, the Company will pay 3% on the net revenue up to $5.0 million, 4% on the net revenue over $5.0 million up to $7.0 million, and 5% on net revenue over $7.0 million. The cash payments were payable beginning in the fourth quarter of 2023. Regardless of the percentage paid, the quarterly cash payment amounts, along with the $1.0 million upfront payment, will be deducted from the Repurchase Price as Applicable Reductions.
CY2023 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
75300000 usd
CY2023 EVFM Revalued Amount Extinguishment Of Debt Amount
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73200000 usd
CY2024Q1 us-gaap Interest Expense Debt Excluding Amortization
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536000 usd
CY2023Q1 us-gaap Interest Expense Debt Excluding Amortization
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497000 usd
CY2024Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
28000 usd
CY2023Q1 us-gaap Amortization Of Financing Costs
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68000 usd
CY2024Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
564000 usd
CY2023Q1 us-gaap Interest Expense Debt
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565000 usd
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0.0001
CY2024Q1 us-gaap Inventory Raw Materials
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526000 usd
CY2023Q4 us-gaap Inventory Raw Materials
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520000 usd
CY2023Q4 us-gaap Inventory Work In Process
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386000 usd
CY2024Q1 us-gaap Inventory Finished Goods
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780000 usd
CY2023Q4 us-gaap Inventory Finished Goods
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791000 usd
CY2024Q1 us-gaap Inventory Net
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1306000 usd
CY2023Q4 us-gaap Inventory Net
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1697000 usd
CY2024Q1 us-gaap Inventory Adjustments
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200000 usd
CY2023Q4 us-gaap Inventory Adjustments
InventoryAdjustments
300000 usd
CY2023 us-gaap Inventory Write Down
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1300000 usd
CY2024Q1 us-gaap Prepaid Insurance
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314000 usd
CY2023Q4 us-gaap Prepaid Insurance
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777000 usd
CY2024Q1 EVFM Prepaid Research And Development Expenses
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13000 usd
CY2023Q4 EVFM Prepaid Research And Development Expenses
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13000 usd
CY2024Q1 us-gaap Other Prepaid Expense Current
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295000 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
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405000 usd
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
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622000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
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1195000 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
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1889000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
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2389000 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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689000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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1186000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
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1200000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
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1203000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
200000 usd
CY2024Q1 EVFM Accrued Clinical Studies Current
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2498000 usd
CY2023Q4 EVFM Accrued Clinical Studies Current
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2498000 usd
CY2024Q1 us-gaap Accrued Royalties Current
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1336000 usd
CY2023Q4 us-gaap Accrued Royalties Current
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1146000 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
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741000 usd
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583000 usd
CY2024Q1 us-gaap Accrued Liabilities Current
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4575000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
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4227000 usd
CY2024Q1 us-gaap Derivative Liabilities Current
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4310000 usd
CY2023Q4 us-gaap Derivative Liabilities Current
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1926000 usd
CY2024Q1 EVFM Number Of Leased Vehicles
NumberOfLeasedVehicles
20 integer
CY2019Q4 EVFM Office Square Footage
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24474 sqft
CY2020Q2 EVFM Office Square Footage
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8816 sqft
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
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3300000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
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4200000 usd
CY2023Q2 us-gaap Gain Loss On Termination Of Lease
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200000 usd
CY2022Q2 EVFM Lessee Operating Sublease Rentable Area
LesseeOperatingSubleaseRentableArea
16637 sqft
CY2022Q2 us-gaap Operating Lease Expense
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100000 usd
CY2022Q2 us-gaap Operating Leases Of Lessor Contingent Rentals Basis Spread On Variable Rate
OperatingLeasesOfLessorContingentRentalsBasisSpreadOnVariableRate
0.035 pure
CY2023Q1 us-gaap Sublease Income
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300000 usd
CY2024Q1 us-gaap Operating Lease Cost
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56000 usd
CY2023Q1 us-gaap Operating Lease Cost
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456000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y7M24D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y9M
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.12 pure
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.12 pure
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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56000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
11000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
67000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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8000 usd
CY2024Q1 us-gaap Operating Lease Liability
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59000 usd
CY2024Q1 us-gaap Operating Lease Payments
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64000 usd
CY2023Q1 us-gaap Operating Lease Payments
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610000 usd
CY2024Q1 us-gaap Unrecorded Unconditional Purchase Obligation Purchases
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CY2023Q1 us-gaap Unrecorded Unconditional Purchase Obligation Purchases
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0 usd
CY2023Q4 us-gaap Accounts Payable Trade Current And Noncurrent
AccountsPayableTradeCurrentAndNoncurrent
2100000 usd
CY2024Q1 EVFM Accounts Payable Trade90 Days Past Due Or More Percent
AccountsPayableTrade90DaysPastDueOrMorePercent
0.94 pure
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
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894194 shares
CY2023Q4 us-gaap Common Stock Other Shares Outstanding
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9972074 shares
CY2024Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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2.42
CY2024Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
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20807543000 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
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5000000 shares
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.0001
CY2023Q3 us-gaap Excess Stock Shares Authorized
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2300 shares
CY2023Q3 EVFM Debt Instrument Redemption Premium In Event Of Default
DebtInstrumentRedemptionPremiumInEventOfDefault
0.25 pure
CY2023 us-gaap Adjustments To Additional Paid In Capital Increase In Carrying Amount Of Redeemable Preferred Stock
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1800000 usd
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
3000000000 shares
CY2024Q1 EVFM Common Stock Reserved Upon Exercise Of Stock Options Outstanding
CommonStockReservedUponExerciseOfStockOptionsOutstanding
3747 shares
CY2024Q1 EVFM Common Stock Reserved Upon Exercise Of Common Stock Warrants
CommonStockReservedUponExerciseOfCommonStockWarrants
10598205 shares
CY2024Q1 EVFM Common Stock Capital Share Reserved For Future Issuance
CommonStockCapitalShareReservedForFutureIssuance
722646377 shares
CY2024Q1 us-gaap Convertible Preferred Stock Shares Reserved For Future Issuance
ConvertiblePreferredStockSharesReservedForFutureIssuance
148541458 shares
CY2024Q1 us-gaap Preferred Stock Capital Shares Reserved For Future Issuance
PreferredStockCapitalSharesReservedForFutureIssuance
33750860 shares
CY2024Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
915547554 shares
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
237000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
417000 usd

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0001493152-24-019428.txt Edgar Link pending
0001493152-24-019428-xbrl.zip Edgar Link pending
evfm-20240331.xsd Edgar Link pending
ex31-1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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evfm-20240331_def.xml Edgar Link unprocessable
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form10-q_htm.xml Edgar Link completed
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evfm-20240331_cal.xml Edgar Link unprocessable