$OBIO
Orchestra Biomed Holdings Inc

2024 Q1 Form 10-K Financial Statement

#000155837024004083 Filed on March 27, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $620.0K $262.0K $2.760M
YoY Change -46.74%
Cost Of Revenue $34.00K $47.00K $186.0K
YoY Change -22.73% -11.32% -11.85%
Gross Profit $586.0K $215.0K $2.574M
YoY Change -47.68% -79.52% -22.52%
Gross Profit Margin 94.52% 82.06% 93.26%
Selling, General & Admin $5.897M $4.185M $20.26M
YoY Change 33.69% 377.35% 557.67%
% of Gross Profit 1006.31% 1946.51% 787.02%
Research & Development $9.112M $8.511M $33.82M
YoY Change 10.39% 12.83% 54.12%
% of Gross Profit 1554.95% 3958.6% 1313.99%
Depreciation & Amortization $74.00K $72.00K $287.0K
YoY Change 4.23% 2.86% 29.28%
% of Gross Profit 12.63% 33.49% 11.15%
Operating Expenses $15.01M $12.70M $54.08M
YoY Change 18.51% 1348.12% 1655.7%
Operating Profit -$14.42M -$12.48M -$51.51M
YoY Change 24.93% -7302.79% 1572.13%
Interest Expense $971.0K $814.0K $3.537M
YoY Change 176.64% 924.8%
% of Operating Profit
Other Income/Expense, Net -$11.00K
YoY Change
Pretax Income -$13.46M -$12.82M -$49.12M
YoY Change 23.06% 1362.04% 1695.9%
Income Tax
% Of Pretax Income
Net Earnings -$13.46M -$12.82M -$49.12M
YoY Change 23.06% 1362.04% 1695.9%
Net Earnings / Revenue -2171.45% -4892.37% -1779.71%
Basic Earnings Per Share -$0.38 -$1.48
Diluted Earnings Per Share -$0.38 -$0.36 -$1.48
COMMON SHARES
Basic Shares Outstanding 35.78M 35.74M 33.23M
Diluted Shares Outstanding 35.78M 33.23M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $75.04M $87.60M $87.60M
YoY Change -40.98% 36.67% 4.65%
Cash & Equivalents $23.32M $30.56M $30.56M
Short-Term Investments $51.71M $57.04M $57.04M
Other Short-Term Assets $1.209M $1.274M $1.274M
YoY Change -98.91% -98.02% 105.82%
Inventory $115.0K $146.0K $146.0K
Prepaid Expenses
Receivables $67.00K $99.00K $99.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $76.43M $89.11M $89.11M
YoY Change -41.15% 29696.14% 5.22%
LONG-TERM ASSETS
Property, Plant & Equipment $1.309M $2.834M $2.834M
YoY Change -9.91% 90.33% -22.91%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.495M $2.495M $2.495M
YoY Change 0.0% 0.0% 0.0%
Other Assets $894.0K $769.0K $769.0K
YoY Change 112.35% -83.68% -83.68%
Total Long-Term Assets $6.199M $6.098M $6.098M
YoY Change -3.16% -91.0% -43.96%
TOTAL ASSETS
Total Short-Term Assets $76.43M $89.11M $89.11M
Total Long-Term Assets $6.199M $6.098M $6.098M
Total Assets $82.63M $95.21M $95.21M
YoY Change -39.37% 39.86% -0.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.354M $2.900M $2.900M
YoY Change 21.3% 669.37% -26.92%
Accrued Expenses $3.526M $5.798M $5.798M
YoY Change 8.29% 324.19% -4.53%
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 $10.42M $11.21M $11.21M
YoY Change -13.61% 542.75% -39.63%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Long-Term Liabilities $15.02M $15.96M $15.96M
YoY Change 5933.73% 8043.37% 6.53%
Total Long-Term Liabilities $15.02M $15.96M $15.96M
YoY Change 5933.73% 8043.37% -34.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.42M $11.21M $11.21M
Total Long-Term Liabilities $15.02M $15.96M $15.96M
Total Liabilities $25.44M $27.17M $27.17M
YoY Change -30.35% 269.96% -36.87%
SHAREHOLDERS EQUITY
Retained Earnings -$262.3M -$248.9M
YoY Change 24.51% 3483.15%
Common Stock $4.000K $4.000K
YoY Change 33.33% 798.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $57.19M $68.04M $68.04M
YoY Change
Total Liabilities & Shareholders Equity $82.63M $95.21M $95.21M
YoY Change -39.37% 39.86% -0.38%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$13.46M -$12.82M -$49.12M
YoY Change 23.06% 1362.04% 1695.9%
Depreciation, Depletion And Amortization $74.00K $72.00K $287.0K
YoY Change 4.23% 2.86% 29.28%
Cash From Operating Activities -$13.11M -$10.97M -$46.13M
YoY Change -8.81% 1859.43% 2820.73%
INVESTING ACTIVITIES
Capital Expenditures $8.000K -$3.000K $78.00K
YoY Change -77.14% -105.56% -86.8%
Acquisitions
YoY Change
Other Investing Activities $5.869M $33.15M $10.77M
YoY Change -113.49% -88.37%
Cash From Investing Activities $5.861M $33.15M $10.69M
YoY Change -113.46% -88.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $254.0K
YoY Change
Debt Paid & Issued, Net $10.85M
YoY Change 68.31%
Cash From Financing Activities 18.00K -10.70M 46.22M
YoY Change -99.97% -149.91%
NET CHANGE
Cash From Operating Activities -13.11M -10.97M -46.13M
Cash From Investing Activities 5.861M 33.15M 10.69M
Cash From Financing Activities 18.00K -10.70M 46.22M
Net Change In Cash -7.235M 11.48M 10.78M
YoY Change 564.37% -2149.96% -782.26%
FREE CASH FLOW
Cash From Operating Activities -$13.11M -$10.97M -$46.13M
Capital Expenditures $8.000K -$3.000K $78.00K
Free Cash Flow -$13.12M -$10.97M -$46.21M
YoY Change -8.98% 1686.63% 2028.97%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures in the consolidated financial statements and accompanying notes. Management bases its estimates on historical experience and on assumptions believed to be reasonable under the circumstances. Actual results could differ materially from those estimates. Areas where significant estimates exist include, but are not limited to, the fair value of stock-based compensation, research and development costs incurred, the fair value of the warrant liability, and the estimated costs to complete the combined performance obligation pursuant to the Terumo Agreement (Note 4).</p>
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