$PTPI
Petros Pharmaceuticals, Inc.

2024 Q3 Form 10-Q Financial Statement

#000141057824001437 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $1.421M $1.994M
YoY Change -28.71% -52.37%
Cost Of Revenue $329.1K $513.9K
YoY Change -35.95% -20.85%
Gross Profit $1.092M $1.480M
YoY Change -26.2% -58.16%
Gross Profit Margin 76.85% 74.23%
Selling, General & Admin $2.287M $2.250M
YoY Change 1.65% -30.06%
% of Gross Profit 209.33% 151.98%
Research & Development $368.8K $866.6K
YoY Change -57.44% 105.72%
% of Gross Profit 33.76% 58.55%
Depreciation & Amortization $717.8K $826.8K
YoY Change -13.18% -47.03%
% of Gross Profit 65.71% 55.86%
Operating Expenses $3.373M $3.943M
YoY Change -14.45% -24.16%
Operating Profit -$2.281M -$2.463M
YoY Change -7.39% 48.24%
Interest Expense $1.619M -$80.00K
YoY Change -2123.6% -46.8%
% of Operating Profit
Other Income/Expense, Net $1.619M -$83.88K
YoY Change -2030.11%
Pretax Income -$662.0K -$2.550M
YoY Change -74.04% 40.74%
Income Tax
% Of Pretax Income
Net Earnings -$662.0K -$2.547M
YoY Change -74.0% 40.56%
Net Earnings / Revenue -46.57% -127.72%
Basic Earnings Per Share -$0.37 -$1.20
Diluted Earnings Per Share -$0.37 -$1.20
COMMON SHARES
Basic Shares Outstanding 9.607M 7.000M 2.114M
Diluted Shares Outstanding 7.388M 2.118M

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.460M $7.380M
YoY Change 1.08% -44.49%
Cash & Equivalents $7.500M $7.400M
Short-Term Investments
Other Short-Term Assets $86.55K $31.74K
YoY Change 172.65% -75.53%
Inventory $1.433M $2.180M
Prepaid Expenses
Receivables $1.777M $2.577M
Other Receivables $0.00 $0.00
Total Short-Term Assets $13.98M $13.15M
YoY Change 6.3% -42.46%
LONG-TERM ASSETS
Property, Plant & Equipment $23.85K $34.07K
YoY Change -30.0% -23.08%
Goodwill
YoY Change
Intangibles $7.541M $10.60M
YoY Change -28.83% -52.22%
Long-Term Investments
YoY Change
Other Assets $3.625M $294.4K
YoY Change 1131.43% -94.7%
Total Long-Term Assets $11.19M $15.58M
YoY Change -28.16% -44.76%
TOTAL ASSETS
Total Short-Term Assets $13.98M $13.15M
Total Long-Term Assets $11.19M $15.58M
Total Assets $25.17M $28.73M
YoY Change -12.38% -43.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $791.1K $1.784M
YoY Change -55.65% -6.34%
Accrued Expenses $6.674M $4.779M
YoY Change 39.66% 19.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.937M $1.120M
YoY Change 72.95% 23.78%
Total Short-Term Liabilities $9.976M $7.965M
YoY Change 25.25% 7.98%
LONG-TERM LIABILITIES
Long-Term Debt $5.697M $7.630M
YoY Change -25.33% -16.34%
Other Long-Term Liabilities $107.8K $183.3K
YoY Change -41.22% -45.46%
Total Long-Term Liabilities $107.8K $183.3K
YoY Change -41.22% -45.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.976M $7.965M
Total Long-Term Liabilities $107.8K $183.3K
Total Liabilities $15.98M $15.78M
YoY Change 1.27% -6.24%
SHAREHOLDERS EQUITY
Retained Earnings -$101.7M -$94.70M
YoY Change 7.39% 29.73%
Common Stock $930.00 $211.00
YoY Change 340.76% -89.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.070M $12.94M
YoY Change
Total Liabilities & Shareholders Equity $25.17M $28.73M
YoY Change -12.38% -43.73%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$662.0K -$2.547M
YoY Change -74.0% 40.56%
Depreciation, Depletion And Amortization $717.8K $826.8K
YoY Change -13.18% -47.03%
Cash From Operating Activities -$1.662M -$570.0K
YoY Change 191.64% -86.43%
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 -1.958M -360.0K
YoY Change 443.98% 103.42%
NET CHANGE
Cash From Operating Activities -1.662M -570.0K
Cash From Investing Activities
Cash From Financing Activities -1.958M -360.0K
Net Change In Cash -3.621M -930.0K
YoY Change 289.32% -78.75%
FREE CASH FLOW
Cash From Operating Activities -$1.662M -$570.0K
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>
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, may be in excess of insured limits of $250,000.</p>
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CY2024Q2 ecd Rule10b51 Arr Adopted Flag
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