$EVOK
Evoke Pharma Inc

2024 Q3 Form 10-Q Financial Statement

#000095017024095776 Filed on August 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $2.654M $2.551M
YoY Change 69.83% 125.51%
Cost Of Revenue $104.0K $41.48K
YoY Change 246.73% -27.68%
Gross Profit $2.550M $2.510M
YoY Change 66.68% 133.69%
Gross Profit Margin 96.08% 98.37%
Selling, General & Admin $3.824M $3.733M
YoY Change 22.12% 34.97%
% of Gross Profit 149.96% 148.75%
Research & Development $11.68K $0.00
YoY Change -100.0%
% of Gross Profit 0.46% 0.0%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $3.940M $3.775M
YoY Change 24.43% 29.46%
Operating Profit -$1.286M -$1.224M
YoY Change -19.82% -31.43%
Interest Expense $126.0K $124.7K
YoY Change 0.0% 0.0%
% of Operating Profit
Other Income/Expense, Net -$26.73K -$43.66K
YoY Change -70.45% -47.71%
Pretax Income -$1.312M -$1.267M
YoY Change -22.34% -32.16%
Income Tax
% Of Pretax Income
Net Earnings -$1.312M -$1.267M
YoY Change -22.52% -32.16%
Net Earnings / Revenue -49.45% -49.67%
Basic Earnings Per Share -$0.94 -$0.93
Diluted Earnings Per Share -$0.94 -$0.93
COMMON SHARES
Basic Shares Outstanding 734.8K 8.597M
Diluted Shares Outstanding 1.400M 1.364M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.34M $9.178M
YoY Change 90.25% 30.99%
Cash & Equivalents $11.30M $9.200M
Short-Term Investments
Other Short-Term Assets $36.42K $27.68K
YoY Change -62.87% 139.59%
Inventory $493.4K $544.8K
Prepaid Expenses $146.7K $382.9K
Receivables $2.023M $2.003M
Other Receivables $0.00 $0.00
Total Short-Term Assets $14.04M $12.14M
YoY Change 79.07% 35.95%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $115.5K $0.00
YoY Change
Total Long-Term Assets $115.5K $0.00
YoY Change 763.78% -100.0%
TOTAL ASSETS
Total Short-Term Assets $14.04M $12.14M
Total Long-Term Assets $115.5K $0.00
Total Assets $14.15M $12.14M
YoY Change 80.23% 35.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.188M $2.184M
YoY Change 56.3% 54.3%
Accrued Expenses $2.578M $2.287M
YoY Change 206.94% 243.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.000M $5.000M
YoY Change
Total Short-Term Liabilities $9.766M $9.471M
YoY Change 335.91% 355.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.766M $9.471M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $9.766M $9.471M
YoY Change 11.91% 12.2%
SHAREHOLDERS EQUITY
Retained Earnings -$127.6M -$126.3M
YoY Change 5.06% 5.45%
Common Stock $132.0M $129.0M
YoY Change 9.46% 7.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.387M $3.500M
YoY Change
Total Liabilities & Shareholders Equity $14.15M $12.14M
YoY Change 80.23% 35.15%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$1.312M -$1.267M
YoY Change -22.52% -32.16%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$818.7K -$820.6K
YoY Change -21.28% -31.98%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.980M 295.7K
YoY Change
NET CHANGE
Cash From Operating Activities -818.7K -820.6K
Cash From Investing Activities
Cash From Financing Activities 2.980M 295.7K
Net Change In Cash 2.161M -524.9K
YoY Change -307.81% -56.49%
FREE CASH FLOW
Cash From Operating Activities -$818.7K -$820.6K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">reported </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">amounts of revenues and expenses during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to the valuation of share-based awards, the fair value of warrants and the assessment of our ability to fund our operations for at least the next 12 months from the date of issuance of these condensed financial statements. We base our estimates on historical experience and other market-specific or other relevant assumptions that we believe to be reasonable under the circumstances. Estimates are assessed each reporting period and updated to reflect current information. As future events and their effects cannot be determined with precision, actual results may materially differ from those estimates or assumptions.</span>
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2024Q2 evok Bad Debt Expense
BadDebtExpense
0
evok Bad Debt Expense
BadDebtExpense
0
CY2023Q2 evok Bad Debt Expense
BadDebtExpense
0
evok Bad Debt Expense
BadDebtExpense
0
CY2024Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
283283
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
361219
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
261482
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
120621
CY2024Q2 us-gaap Inventory Net
InventoryNet
544765
CY2023Q4 us-gaap Inventory Net
InventoryNet
481840
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3320647
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3320647
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
53763
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
53763
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
3266107
CY2024Q2 evok Class Of Warrant Or Right Exercisable
ClassOfWarrantOrRightExercisable
3220152
CY2024Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
3266107
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0
CY2024Q2 us-gaap Share Based Compensation
ShareBasedCompensation
126578
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
280140
us-gaap Share Based Compensation
ShareBasedCompensation
380607
us-gaap Share Based Compensation
ShareBasedCompensation
564712
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
300000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P0Y8M8D
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 evok Rule10 B51 Arr Modified Flag
Rule10B51ArrModifiedFlag
false
CY2024Q2 evok Non Rule10 B51 Arr Modified Flag
NonRule10B51ArrModifiedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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