2024 Q2 Form 10-K Financial Statement

#000149315224013966 Filed on April 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4 2023
Revenue $817.0K $1.177M $2.283M
YoY Change 177.89% 56.52% 203.59%
Cost Of Revenue $389.0K $440.0K $746.0K
YoY Change 398.72% -24.79% 27.52%
Gross Profit $428.0K $737.0K $1.537M
YoY Change 98.15% 341.32% 820.36%
Gross Profit Margin 52.39% 62.62% 67.32%
Selling, General & Admin $915.0K $1.377M $4.788M
YoY Change -23.11% -71.88% -2.21%
% of Gross Profit 213.79% 186.84% 311.52%
Research & Development $187.0K $62.00K $185.0K
YoY Change 434.29% -78.09% -34.63%
% of Gross Profit 43.69% 8.41% 12.04%
Depreciation & Amortization $1.000K $1.000K $1.000K
YoY Change 0.0%
% of Gross Profit 0.23% 0.14% 0.07%
Operating Expenses $1.102M $1.439M $4.973M
YoY Change -10.04% -72.21% -3.98%
Operating Profit -$674.0K -$702.0K -$3.436M
YoY Change -33.2% -85.99% -31.44%
Interest Expense $34.00K -$100.0K -$246.0K
YoY Change 3.03% -75.06% -170.89%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$684.0K -$802.0K -$3.682M
YoY Change -35.53% -85.18% -31.98%
Income Tax $4.000K $11.00K $29.00K
% Of Pretax Income
Net Earnings -$688.0K -$813.0K -$3.711M
YoY Change -237.6% -85.08% -31.88%
Net Earnings / Revenue -84.21% -69.07% -162.55%
Basic Earnings Per Share -$0.25 -$2.12
Diluted Earnings Per Share -$0.25 -$0.41 -$2.12
COMMON SHARES
Basic Shares Outstanding 2.784M shares 2.046M shares 1.750M shares
Diluted Shares Outstanding 2.784M shares 1.750M shares

Balance Sheet

Concept 2024 Q2 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.170M $3.283M $3.283M
YoY Change 757.71% 21.01% 21.01%
Cash & Equivalents $2.170M $3.283M
Short-Term Investments
Other Short-Term Assets $296.0K $154.0K $47.00K
YoY Change 68.18% 54.0% -92.32%
Inventory $2.431M $2.732M $2.732M
Prepaid Expenses $47.00M
Receivables $489.0K $318.0K $318.0K
Other Receivables $0.00 $0.00 $107.0K
Total Short-Term Assets $5.386M $6.487M $6.487M
YoY Change 49.03% 15.65% 15.65%
LONG-TERM ASSETS
Property, Plant & Equipment $9.000K $12.00K $12.00K
YoY Change 28.57% 71.43% -86.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.000K $175.0K $175.0K
YoY Change -66.67% 5733.33% -3.85%
Total Long-Term Assets $310.0K $187.0K $187.0K
YoY Change 42.86% -30.74% -30.74%
TOTAL ASSETS
Total Short-Term Assets $5.386M $6.487M $6.487M
Total Long-Term Assets $310.0K $187.0K $187.0K
Total Assets $5.696M $6.674M $6.674M
YoY Change 48.68% 13.52% 13.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $92.00K $138.0K $138.0K
YoY Change 178.79% 109.09% 109.09%
Accrued Expenses $44.00K $5.000K $5.000K
YoY Change 18.92% -93.83% -93.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.556M $2.454M $2.454M
YoY Change 7.85% 5.96% 5.96%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $299.0K $232.0K $232.0K
YoY Change 1.01% -29.7% -29.7%
Total Long-Term Liabilities $299.0K $232.0K $232.0K
YoY Change 1.01% -29.7% -29.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.556M $2.454M $2.454M
Total Long-Term Liabilities $299.0K $232.0K $232.0K
Total Liabilities $2.855M $2.686M $2.686M
YoY Change 7.09% 1.51% 1.51%
SHAREHOLDERS EQUITY
Retained Earnings -$67.37M -$66.10M
YoY Change 4.36% 5.95%
Common Stock $2.000K $2.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.841M $3.988M $3.988M
YoY Change
Total Liabilities & Shareholders Equity $5.696M $6.674M $6.674M
YoY Change 48.68% 13.52% 13.52%

Cashflow Statement

Concept 2024 Q2 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$688.0K -$813.0K -$3.711M
YoY Change -237.6% -85.08% -31.88%
Depreciation, Depletion And Amortization $1.000K $1.000K $1.000K
YoY Change 0.0%
Cash From Operating Activities -$553.0K -$492.0K -$3.602M
YoY Change -55.0% -63.04% -48.8%
INVESTING ACTIVITIES
Capital Expenditures $2.000K $1.000K $1.000K
YoY Change -200.0% -66.67%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.000K -$1.000K -$1.000K
YoY Change -200.0% -66.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.222M
YoY Change 102.01%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 28.00K 2.000K 4.222M
YoY Change -99.9% 101.82%
NET CHANGE
Cash From Operating Activities -553.0K -492.0K -3.602M
Cash From Investing Activities -2.000K -1.000K -1.000K
Cash From Financing Activities 28.00K 2.000K 4.222M
Net Change In Cash -527.0K -491.0K 619.0K
YoY Change -57.12% -164.44% -112.32%
FREE CASH FLOW
Cash From Operating Activities -$553.0K -$492.0K -$3.602M
Capital Expenditures $2.000K $1.000K $1.000K
Free Cash Flow -$555.0K -$493.0K -$3.603M
YoY Change -54.84% -62.93% -48.81%

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<p id="xdx_805_eus-gaap--NatureOfOperations_zJtWRxkiuXu6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 - <span id="xdx_828_zCqAWYceMhu1">DESCRIPTION OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NanoVibronix, Inc. (the “Company”), a Delaware corporation, commenced operations on October 20, 2003, and is a medical device company focusing on non-invasive biological response-activating devices that target wound healing and pain therapy and can be administered at home, without the assistance of medical professionals.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s principal research and development activities are conducted in Israel through its wholly-owned subsidiary, NanoVibronix Ltd., a company registered in Israel, which commenced operations in October 2003.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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