$LPCN
Lipocine Inc.

2023 Q4 Form 10-Q Financial Statement

#000149315223039861 Filed on November 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $216.2K -$3.122M
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.135M $1.040M
YoY Change 27.44% 30.17%
% of Gross Profit
Research & Development $1.675M $2.879M
YoY Change 0.27% 37.06%
% of Gross Profit
Depreciation & Amortization $8.000K $10.00K
YoY Change 211.28% 287.6%
% of Gross Profit
Operating Expenses $2.810M $3.921M
YoY Change 9.71% 35.25%
Operating Profit -$7.043M
YoY Change 142.93%
Interest Expense $299.4K
YoY Change 0.75%
% of Operating Profit
Other Income/Expense, Net $12.27K $392.4K
YoY Change -64.16% -19.95%
Pretax Income -$2.282M -$6.651M
YoY Change 2.34% 176.07%
Income Tax $560.00
% Of Pretax Income
Net Earnings -$2.282M -$6.651M
YoY Change 2.35% 176.07%
Net Earnings / Revenue -1055.67%
Basic Earnings Per Share -$1.26
Diluted Earnings Per Share -$0.43 -$1.27
COMMON SHARES
Basic Shares Outstanding 5.316M shares 5.316M shares
Diluted Shares Outstanding 5.292M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.04M $23.85M
YoY Change -32.26% -30.38%
Cash & Equivalents $4.772M $4.073M
Short-Term Investments $17.26M $19.78M
Other Short-Term Assets $773.4K $720.0K
YoY Change -49.28% -60.31%
Inventory
Prepaid Expenses
Receivables $52.25K $40.00K
Other Receivables $0.00 $0.00
Total Short-Term Assets $22.86M $24.61M
YoY Change -33.03% -31.84%
LONG-TERM ASSETS
Property, Plant & Equipment $116.1K $114.9K
YoY Change -11.77% 207.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $23.75K $23.75K
YoY Change 0.0% 0.0%
Total Long-Term Assets $139.8K $138.7K
YoY Change -95.9% -95.81%
TOTAL ASSETS
Total Short-Term Assets $22.86M $24.61M
Total Long-Term Assets $139.8K $138.7K
Total Assets $23.00M $24.75M
YoY Change -38.73% -37.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.396M $1.101M
YoY Change 132.51% 74.65%
Accrued Expenses $1.218M $1.140M
YoY Change 13.06% 29.46%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.632M $2.241M
YoY Change 56.82% 48.31%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $30.00K
YoY Change -100.0% -88.64%
Total Long-Term Liabilities $0.00 $30.00K
YoY Change -100.0% -88.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.632M $2.241M
Total Long-Term Liabilities $0.00 $30.00K
Total Liabilities $2.632M $2.271M
YoY Change 37.93% 27.9%
SHAREHOLDERS EQUITY
Retained Earnings -$199.8M -$197.5M
YoY Change 8.91% 9.0%
Common Stock $8.860K $8.860K
YoY Change 0.09% 0.1%
Preferred Stock
YoY Change
Treasury Stock (at cost) $40.71K $40.71K
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $20.37M $22.48M
YoY Change
Total Liabilities & Shareholders Equity $23.00M $24.75M
YoY Change -38.73% -37.22%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$2.282M -$6.651M
YoY Change 2.35% 176.07%
Depreciation, Depletion And Amortization $8.000K $10.00K
YoY Change 211.28% 287.6%
Cash From Operating Activities -$2.022M -$2.600M
YoY Change 9.97% -18.7%
INVESTING ACTIVITIES
Capital Expenditures $9.170K $0.00
YoY Change -90.52%
Acquisitions
YoY Change
Other Investing Activities $2.736M $1.240M
YoY Change 1.59% 101.99%
Cash From Investing Activities $2.727M $1.240M
YoY Change 5.02% 101.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.300K 420.0K
YoY Change -10.17% 839900.0%
NET CHANGE
Cash From Operating Activities -2.022M -2.600M
Cash From Investing Activities 2.727M 1.240M
Cash From Financing Activities -5.300K 420.0K
Net Change In Cash 699.1K -940.0K
YoY Change -6.98% -63.63%
FREE CASH FLOW
Cash From Operating Activities -$2.022M -$2.600M
Capital Expenditures $9.170K $0.00
Free Cash Flow -$2.031M -$2.600M
YoY Change 4.95% -18.7%

Facts In Submission

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CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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1250000 usd

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