2022 Q3 Form 10-Q Financial Statement

#000161883522000166 Filed on August 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $6.371M $6.034M $4.251M
YoY Change 272.14% 224.93% 284.71%
Cost Of Revenue $1.680M $1.285M $1.066M
YoY Change 75.92% 53.16% 110.67%
Gross Profit $4.691M $4.749M $3.185M
YoY Change 519.68% 366.5% 431.72%
Gross Profit Margin 73.63% 78.7% 74.92%
Selling, General & Admin $18.21M $21.42M $21.72M
YoY Change -48.6% -36.34% -43.15%
% of Gross Profit 388.15% 451.13% 682.04%
Research & Development $5.207M $7.744M $10.39M
YoY Change -40.16% -8.97% 43.09%
% of Gross Profit 111.0% 163.07% 326.25%
Depreciation & Amortization $250.0K $250.0K $265.0K
YoY Change -6.72% -7.41% 32.5%
% of Gross Profit 5.33% 5.26% 8.32%
Operating Expenses $23.42M $29.17M $32.11M
YoY Change -48.06% -32.17% -30.15%
Operating Profit -$18.72M -$24.42M -$28.93M
YoY Change -56.83% -40.65% -35.53%
Interest Expense $108.7M -$101.1M $523.0K
YoY Change -468.38% -1234.46% -54.6%
% of Operating Profit
Other Income/Expense, Net $108.2M -$101.5M -$2.956M
YoY Change -452.67% -1413.94% 130.94%
Pretax Income $89.52M -$126.0M -$31.89M
YoY Change -220.87% 276.97% -30.91%
Income Tax $13.00K $20.00K $3.000K
% Of Pretax Income 0.01%
Net Earnings $89.51M -$126.0M -$31.89M
YoY Change -220.85% 276.89% -30.91%
Net Earnings / Revenue 1404.9% -2087.84% -750.13%
Basic Earnings Per Share $1.09 -$4.57 -$2.88
Diluted Earnings Per Share -$0.04 -$4.57 -$2.88
COMMON SHARES
Basic Shares Outstanding 85.46M shares 27.13M shares 11.09M shares
Diluted Shares Outstanding 555.2M shares 27.13M shares 11.09M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.749M $19.89M $2.761M
YoY Change -47.84% -57.68% -93.91%
Cash & Equivalents $7.749M $19.89M $2.761M
Short-Term Investments
Other Short-Term Assets $6.101M $8.772M $8.797M
YoY Change -76.46% -74.75% -61.92%
Inventory $5.179M $6.133M $7.161M
Prepaid Expenses
Receivables $12.76M $7.304M $4.416M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $31.79M $41.91M $21.36M
YoY Change -42.09% -56.18% -73.41%
LONG-TERM ASSETS
Property, Plant & Equipment $4.276M $5.306M $5.518M
YoY Change -25.88% -10.82% -1.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.111M $1.224M $2.706M
YoY Change 12.11% 19.88% 164.77%
Total Long-Term Assets $10.49M $11.57M $13.21M
YoY Change -16.23% -11.82% 0.62%
TOTAL ASSETS
Total Short-Term Assets $31.79M $41.91M $21.36M
Total Long-Term Assets $10.49M $11.57M $13.21M
Total Assets $42.28M $53.47M $34.57M
YoY Change -37.29% -50.83% -63.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.54M $15.39M $14.04M
YoY Change 114.25% 99.75% 115.98%
Accrued Expenses $5.505M $6.918M $9.749M
YoY Change -38.98% -7.7% 8.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $4.054M $267.0K
YoY Change -99.5%
Long-Term Debt Due $77.53M $115.5M $113.8M
YoY Change 12.81% 160.57%
Total Short-Term Liabilities $116.7M $265.6M $154.5M
YoY Change 23.26% 288.69% 104.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Long-Term Liabilities $0.00 $3.913M $4.059M
YoY Change -100.0% -25.76% -28.79%
Total Long-Term Liabilities $0.00 $3.913M $4.059M
YoY Change -100.0% -87.56% -87.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $116.7M $265.6M $154.5M
Total Long-Term Liabilities $0.00 $3.913M $4.059M
Total Liabilities $120.3M $269.5M $158.5M
YoY Change -4.69% 170.05% 48.02%
SHAREHOLDERS EQUITY
Retained Earnings -$930.4M -$1.000B -$892.6M
YoY Change 14.99% 36.04% 27.22%
Common Stock $815.4M $802.3M $759.2M
YoY Change 9.41% 7.83% 10.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$78.04M -$216.0M -$128.1M
YoY Change
Total Liabilities & Shareholders Equity $42.28M $53.47M $34.57M
YoY Change -37.29% -50.83% -63.01%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $89.51M -$126.0M -$31.89M
YoY Change -220.85% 276.89% -30.91%
Depreciation, Depletion And Amortization $250.0K $250.0K $265.0K
YoY Change -6.72% -7.41% 32.5%
Cash From Operating Activities -$16.30M -$26.66M -$20.92M
YoY Change -56.38% -50.24% -39.29%
INVESTING ACTIVITIES
Capital Expenditures -$70.00K -$170.0K $66.00K
YoY Change -88.27% -87.21% -93.1%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$70.00K -$170.0K -$66.00K
YoY Change -88.27% -87.21% -90.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.946M 41.36M $15.13M
YoY Change 24562.5% -21.66% -45.98%
NET CHANGE
Cash From Operating Activities -16.30M -26.66M -$20.92M
Cash From Investing Activities -70.00K -170.0K -$66.00K
Cash From Financing Activities 3.946M 41.36M $15.13M
Net Change In Cash -12.42M 14.53M -$5.856M
YoY Change -67.26% -791.11% -18.19%
FREE CASH FLOW
Cash From Operating Activities -$16.30M -$26.66M -$20.92M
Capital Expenditures -$70.00K -$170.0K $66.00K
Free Cash Flow -$16.23M -$26.49M -$20.99M
YoY Change -55.86% -49.3% -40.74%

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-4.57
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.01
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-8.15
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-8.15
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-11.52
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27130378 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27130378 shares
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-161362000 usd
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8344571 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8344571 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19155923 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19155923 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6908375 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6908375 shares
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-125980000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-33426000 usd
us-gaap Net Income Loss
NetIncomeLoss
-157868000 usd
us-gaap Net Income Loss
NetIncomeLoss
-79577000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option After Tax And Reclassification Adjustment
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionAfterTaxAndReclassificationAdjustment
-3675000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option After Tax And Reclassification Adjustment
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionAfterTaxAndReclassificationAdjustment
0 usd
us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option After Tax And Reclassification Adjustment
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionAfterTaxAndReclassificationAdjustment
-3494000 usd
us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option After Tax And Reclassification Adjustment
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionAfterTaxAndReclassificationAdjustment
0 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-129655000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-33426000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-79577000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-104315000 usd
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
5400000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
708000 usd
CY2022Q1 evfm Temporary Equity Convertible Preferred Stock Deemed Dividends
TemporaryEquityConvertiblePreferredStockDeemedDividends
81000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option After Tax And Reclassification Adjustment
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionAfterTaxAndReclassificationAdjustment
181000 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
828000 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1067000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-31888000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-128100000 usd
CY2022Q2 evfm Stock Issued During Period Value Employee Stock Purchase Plans And Exercise Of Stock Options
StockIssuedDuringPeriodValueEmployeeStockPurchasePlansAndExerciseOfStockOptions
20000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
858000 usd
CY2022Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
18000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
543000 usd
CY2022Q2 evfm Stock Issued During Period Value Exchange Transaction
StockIssuedDuringPeriodValueExchangeTransaction
2339000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option After Tax And Reclassification Adjustment
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionAfterTaxAndReclassificationAdjustment
-3675000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
231000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1081000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-125980000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-215995000 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
1347000 usd
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
27709000 usd
CY2021Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
7000 usd
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3464000 usd
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-46151000 usd
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
-13638000 usd
CY2021Q2 evfm Stock Issued During Period Value Employee Stock Purchase Plans And Exercise Of Stock Options
StockIssuedDuringPeriodValueEmployeeStockPurchasePlansAndExerciseOfStockOptions
196000 usd
CY2021Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
300000 usd
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2993000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-33426000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
8964000 usd
us-gaap Net Income Loss
NetIncomeLoss
-157868000 usd
us-gaap Net Income Loss
NetIncomeLoss
-79577000 usd
evfm Loss On Issuance Of Financial Instruments
LossOnIssuanceOfFinancialInstruments
72002000 usd
evfm Loss On Issuance Of Financial Instruments
LossOnIssuanceOfFinancialInstruments
0 usd
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-31614000 usd
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
8768000 usd
evfm Financial Instrument Modification Expense
FinancialInstrumentModificationExpense
1056000 usd
evfm Financial Instrument Modification Expense
FinancialInstrumentModificationExpense
0 usd
us-gaap Share Based Compensation
ShareBasedCompensation
2148000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
6457000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
515000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
470000 usd
us-gaap Lease Cost
LeaseCost
301000 usd
us-gaap Lease Cost
LeaseCost
676000 usd
us-gaap Interest Expense
InterestExpense
1055000 usd
us-gaap Interest Expense
InterestExpense
1647000 usd
evfm Financial Instrument Expense Noncash
FinancialInstrumentExpenseNoncash
514000 usd
evfm Financial Instrument Expense Noncash
FinancialInstrumentExpenseNoncash
0 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
855000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2041000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1542000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2725000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2749000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2473000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4728000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2821000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1929000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
4005000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
816000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-2242000 usd
evfm Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-469000 usd
evfm Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-643000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-47579000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-88035000 usd
us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
0 usd
us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
250000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
236000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2289000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-236000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2039000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
20922000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
49000 usd
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
20000 usd
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
196000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
10000000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5892000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
859000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
660000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
18000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
307000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
56493000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
80811000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8678000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-9263000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13588000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
72251000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22266000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62988000 usd
evfm Deferred Offering Costs Included In Accounts Payable And Accrued Expense
DeferredOfferingCostsIncludedInAccountsPayableAndAccruedExpense
563000 usd
evfm Deferred Offering Costs Included In Accounts Payable And Accrued Expense
DeferredOfferingCostsIncludedInAccountsPayableAndAccruedExpense
75000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
189000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
203000 usd
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
1187000 usd
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0 usd
evfm Temporary Equity Value Exchange Of Convertible Securities
TemporaryEquityValueExchangeOfConvertibleSecurities
1616000 usd
evfm Temporary Equity Value Exchange Of Convertible Securities
TemporaryEquityValueExchangeOfConvertibleSecurities
0 usd
us-gaap Stock Issued1
StockIssued1
858000 usd
us-gaap Stock Issued1
StockIssued1
0 usd
evfm Proceeds From Issuance Of Notes And Warrants
ProceedsFromIssuanceOfNotesAndWarrants
10000000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19900000 usd
CY2022Q2 evfm Working Capital Surplus Deficit
WorkingCapitalSurplusDeficit
-223600000 usd
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1000000000 usd
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
46982000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">S</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ignificant 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 discount rate used in estimating the fair value of the lease right</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">-</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">-</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">use (ROU) assets and lease liabilities, the assumptions used in estimating the fair value of notes, derivative liabilities, convertible preferred stock, warrants and purchase rights issued, the useful lives of property and equipment, the recoverability of long-lived assets, inventory reserves, clinical trial accruals, the assumptions used in estimating the fair value of stock-based compensation expense and in assessing the probability of achieving certain milestones associated with the performance-based restricted stock awards (performance-based RSAs). These assumptions are more fully described in </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#id26d1f62c83e4ef893ef4a4b74095c18_46" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 3- Revenue</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#id26d1f62c83e4ef893ef4a4b74095c18_52" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 4- Debt</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#id26d1f62c83e4ef893ef4a4b74095c18_61" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 6- Fair Value of Financial Instruments</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#id26d1f62c83e4ef893ef4a4b74095c18_64" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 7- Commitments and Contingencies</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, and </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#id26d1f62c83e4ef893ef4a4b74095c18_70" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 9- Stock-based Compensation</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. 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></div>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Concentrations of Credit Risk</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is also subject to credit risk related to its trade accounts receivable from product sales. Its customers are located in the United States and consist of wholesale distributors, retail pharmacies, and a mail-order specialty pharmacy. 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 June 30, 2022, based on the evaluation of these factors, the Company did not record an allowance for doubtful accounts. </span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Phexxi is distributed primarily through three major distributors and a mail-order pharmacy, who receive service fees calculated as a percentage of the gross sales, and fee per units shipped, respectively. These entities are not obligated to purchase any set number of units and distribute Phexxi on demand as orders are received. For the three and six months ended June 30, 2022, the Company’s three largest customers combined made up approximately 72% and 71% of its gross product sales, respectively. For the three and six months ended June 30, 2021, the Company’s three largest customers combined made up approximately 83% and 85% of its gross product sales, respectively. As of June 30, 2022 and December 31, 2021, the Company's three largest customers combined made up 78% and 75%, respectively, of its trade accounts receivable balance.</span></div>
CY2020Q4 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
25000000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19885000 usd
CY2022Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
1581000 usd
CY2021Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
15206000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22266000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62988000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
125495884 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6546838 shares
CY2022Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
1000400 shares
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
5.88
CY2022Q1 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2022Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
1037885 shares
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
7.1805
CY2022Q1 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2022Q2 evfm Exchange Agreement Number Of Common Shares To Be Redeemed
ExchangeAgreementNumberOfCommonSharesToBeRedeemed
533333 shares
CY2022Q2 evfm Exchange Agreement Number Of Common Shares To Be Issued To Investors
ExchangeAgreementNumberOfCommonSharesToBeIssuedToInvestors
208333 shares
CY2022Q2 evfm Exchange Agreement Number Of Common Shares To Be Redeemed
ExchangeAgreementNumberOfCommonSharesToBeRedeemed
533333 shares
CY2022Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
14043000 usd
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
11176000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1179000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1177000 usd
CY2022Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
574000 usd
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
574000 usd
CY2022Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1783000 usd
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1712000 usd
CY2022Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
3776000 usd
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
5629000 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
6133000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
7915000 usd
CY2022Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
300000 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
300000 usd
CY2021Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
200000 usd
CY2022Q2 us-gaap Inventory Noncurrent
InventoryNoncurrent
200000 usd
CY2022Q2 evfm Accrued Clinical Studies Current
AccruedClinicalStudiesCurrent
4569000 usd
CY2021Q4 evfm Accrued Clinical Studies Current
AccruedClinicalStudiesCurrent
5294000 usd
CY2022Q2 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
1140000 usd
CY2021Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
1997000 usd
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
831000 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
550000 usd
CY2022Q2 evfm Accrued Manufacturing Related Costs Current
AccruedManufacturingRelatedCostsCurrent
0 usd
CY2021Q4 evfm Accrued Manufacturing Related Costs Current
AccruedManufacturingRelatedCostsCurrent
201000 usd
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
378000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
328000 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6918000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8370000 usd
evfm Lessee Operating Lease Number Of Vehicles Leased
LesseeOperatingLeaseNumberOfVehiclesLeased
75 vehicle
CY2019Q4 evfm Office Square Footage
OfficeSquareFootage
24474 sqft
CY2019Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2020Q2 evfm Office Square Footage
OfficeSquareFootage
8816 sqft
CY2022Q2 evfm Lessee Operating Sublease Rentable Area
LesseeOperatingSubleaseRentableArea
16637 sqft
CY2022Q2 evfm Lessee Operating Sublease Monthly Rent
LesseeOperatingSubleaseMonthlyRent
87000 usd
CY2022Q2 evfm Lessee Operating Sublease Annual Increase
LesseeOperatingSubleaseAnnualIncrease
0.035
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
603000 usd
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
584000 usd
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y2M8D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M29D
CY2022Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.12
CY2021Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.12
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1301000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2440000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2311000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1506000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7558000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1328000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
6230000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1289000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1139000 usd
us-gaap Unrecorded Unconditional Purchase Obligation Purchases
UnrecordedUnconditionalPurchaseObligationPurchases
0 usd
CY2022Q2 us-gaap Unrecorded Unconditional Purchase Obligation Purchases
UnrecordedUnconditionalPurchaseObligationPurchases
0 usd
CY2021Q2 us-gaap Unrecorded Unconditional Purchase Obligation Purchases
UnrecordedUnconditionalPurchaseObligationPurchases
1900000 usd
us-gaap Unrecorded Unconditional Purchase Obligation Purchases
UnrecordedUnconditionalPurchaseObligationPurchases
3000000 usd
CY2022Q2 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
0 claim
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
123120348 shares
CY2022Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.58
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
833333 shares
CY2022Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
2.4765
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
42870152 shares
CY2022Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.75
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
72860769 shares
CY2022Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.75
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
123120348 shares
CY2022Q2 evfm Common Stock Reserved Upon Exercise Of Common Stock Warrants
CommonStockReservedUponExerciseOfCommonStockWarrants
123120348 shares
CY2022Q2 evfm Common Stock Reserved For The Conversion Of Convertible Notes
CommonStockReservedForTheConversionOfConvertibleNotes
76115602 shares
CY2022Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
200423095 shares
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1081000 usd
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2993000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2148000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6457000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
40000 shares
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
257718 shares

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0001618835-22-000166-xbrl.zip Edgar Link pending
evfm-20220630.htm Edgar Link pending
evfm-20220630.xsd Edgar Link pending
evfm-6302022xex311.htm Edgar Link pending
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