$PTPI
Petros Pharmaceuticals, Inc.

2023 Q2 Form 10-Q Financial Statement

#000141057823001253 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $1.994M $2.518M $2.465M
YoY Change -52.37% 2.14% -39.51%
Cost Of Revenue $513.9K $550.7K $472.3K
YoY Change -20.85% 16.6% -26.59%
Gross Profit $1.480M $1.967M $1.993M
YoY Change -58.16% -1.28% -41.94%
Gross Profit Margin 74.23% 78.13% 80.84%
Selling, General & Admin $2.250M $2.131M $3.898M
YoY Change -30.06% -45.34% 0.41%
% of Gross Profit 151.98% 108.31% 195.59%
Research & Development $866.6K $319.1K $405.4K
YoY Change 105.72% -21.28% 2013.34%
% of Gross Profit 58.55% 16.22% 20.34%
Depreciation & Amortization $826.8K $826.8K $1.561M
YoY Change -47.03% -47.03% -9.72%
% of Gross Profit 55.86% 42.03% 78.32%
Operating Expenses $3.943M $3.277M $2.474M
YoY Change -24.16% 32.44% -56.05%
Operating Profit -$2.463M -$1.309M -$481.2K
YoY Change 48.24% 172.09% -78.1%
Interest Expense -$80.00K -$75.85K $307.0K
YoY Change -46.8% -124.71% -94.11%
% of Operating Profit
Other Income/Expense, Net -$83.88K -$75.85K
YoY Change
Pretax Income -$2.550M -$1.385M -$174.2K
YoY Change 40.74% 695.06% -105.79%
Income Tax
% Of Pretax Income
Net Earnings -$2.547M -$1.385M -$174.2K
YoY Change 40.56% 695.04% -105.79%
Net Earnings / Revenue -127.72% -55.01% -7.07%
Basic Earnings Per Share -$1.20 -$0.66 -$0.01
Diluted Earnings Per Share -$1.20 -$0.66 -$0.01
COMMON SHARES
Basic Shares Outstanding 2.114M 2.089M 20.68M
Diluted Shares Outstanding 2.118M 2.089M 20.68M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.380M $8.320M $17.67M
YoY Change -44.49% -52.92% 21.29%
Cash & Equivalents $7.400M $8.300M $17.70M
Short-Term Investments
Other Short-Term Assets $31.74K $71.74K $75.54K
YoY Change -75.53% -5.03% -22.19%
Inventory $2.180M $2.038M $1.943M
Prepaid Expenses
Receivables $2.577M $2.400M $3.741M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $13.15M $13.90M $26.84M
YoY Change -42.46% -48.2% 11.99%
LONG-TERM ASSETS
Property, Plant & Equipment $34.07K $36.62K $46.84K
YoY Change -23.08% -21.82% -17.91%
Goodwill
YoY Change
Intangibles $10.60M $11.42M $23.73M
YoY Change -52.22% -51.88% -22.01%
Long-Term Investments
YoY Change
Other Assets $294.4K $326.9K $4.797M
YoY Change -94.7% -93.18% 765.25%
Total Long-Term Assets $15.58M $16.67M $29.03M
YoY Change -44.76% -42.58% -31.2%
TOTAL ASSETS
Total Short-Term Assets $13.15M $13.90M $26.84M
Total Long-Term Assets $15.58M $16.67M $29.03M
Total Assets $28.73M $30.57M $55.86M
YoY Change -43.73% -45.28% -15.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.784M $1.858M $3.700M
YoY Change -6.34% -49.78% -29.92%
Accrued Expenses $4.779M $3.609M $5.512M
YoY Change 19.23% -34.53% -64.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.120M $1.106M $724.0K
YoY Change 23.78% 52.77% -85.7%
Total Short-Term Liabilities $7.965M $6.885M $10.29M
YoY Change 7.98% -33.08% -74.42%
LONG-TERM LIABILITIES
Long-Term Debt $7.630M $8.014M $9.478M
YoY Change -16.34% -15.45%
Other Long-Term Liabilities $183.3K $223.6K $371.1K
YoY Change -45.46% -39.75% -92.59%
Total Long-Term Liabilities $183.3K $223.6K $371.1K
YoY Change -45.46% -39.75% -92.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.965M $6.885M $10.29M
Total Long-Term Liabilities $183.3K $223.6K $371.1K
Total Liabilities $15.78M $15.12M $20.14M
YoY Change -6.24% -24.9% -55.48%
SHAREHOLDERS EQUITY
Retained Earnings -$94.70M -$92.10M -$70.90M
YoY Change 29.73% 29.9% 20.78%
Common Stock $211.00 $209.00 $2.068K
YoY Change -89.8% -89.89% 111.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.94M $15.45M $35.73M
YoY Change
Total Liabilities & Shareholders Equity $28.73M $30.57M $55.86M
YoY Change -43.73% -45.28% -15.55%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$2.547M -$1.385M -$174.2K
YoY Change 40.56% 695.04% -105.79%
Depreciation, Depletion And Amortization $826.8K $826.8K $1.561M
YoY Change -47.03% -47.03% -9.72%
Cash From Operating Activities -$570.0K -$748.4K -$5.300M
YoY Change -86.43% -85.88% 1086.79%
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 -360.0K -357.8K -900.0K
YoY Change 103.42% -60.24% -57.68%
NET CHANGE
Cash From Operating Activities -570.0K -748.4K -5.300M
Cash From Investing Activities
Cash From Financing Activities -360.0K -357.8K -900.0K
Net Change In Cash -930.0K -1.106M -6.176M
YoY Change -78.75% -82.09% 140.02%
FREE CASH FLOW
Cash From Operating Activities -$570.0K -$748.4K -$5.300M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the Consolidated Financial Statements and reported amounts of revenue and expenses during the reporting periods. Such estimates include the adequacy of accounts receivable reserves, return reserves, inventory reserves, assessment of long-lived assets, including intangible asset impairment and the valuation of the derivative liability, among others. Actual results could differ from these estimates and changes in these estimates are recorded when known.</p>
CY2023Q1 us-gaap Concentration Risk Credit Risk
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Concentration of Credit Risk</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Financial instruments that subject the Company to concentrations of credit risk includes cash. The Company maintains cash on deposit at U.S.-based banks in amounts which, at times, exceed insured limits.</p>
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63000
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56000
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