$RSLS
ReShape Lifesciences Inc. Stock $rsls

$rsls Overview Financials Valuation SEC Filings Company Website

2020 Q1 Form 10-Q Financial Statement

#000142757020000035 Filed on June 19, 2020

Income Statement

Concept	2020 Q1	2019 Q1
Revenue	$800.0K	$1.800M
YoY Change	-55.56%	33.73%
Cost Of Revenue	$541.0K	$1.232M
YoY Change	-56.09%	60.21%
Gross Profit	$239.0K	$543.0K
YoY Change	-55.99%	-5.89%
Gross Profit Margin	29.88%	30.17%
Selling, General & Admin	$3.893M	$6.204M
YoY Change	-37.25%	-38.0%
% of Gross Profit	1628.87%	1142.54%
Research & Development	$1.257M	$2.439M
YoY Change	-48.46%	-7.58%
% of Gross Profit	525.94%	449.17%
Depreciation & Amortization	$103.0K	$433.0K
YoY Change	-76.21%	333.0%
% of Gross Profit	43.1%	79.74%
Operating Expenses	$5.150M	$8.643M
YoY Change	-40.41%	-31.65%
Operating Profit	-$4.911M	-$8.100M
YoY Change	-39.37%	-32.88%
Interest Expense	$35.00K	-$190.0K
YoY Change	-118.42%	413.51%
% of Operating Profit
Other Income/Expense, Net	-$385.0K	$0.00
YoY Change		-100.0%
Pretax Income	-$5.261M	-$4.476M
YoY Change	17.54%	-48.9%
Income Tax		$0.00
% Of Pretax Income
Net Earnings	-$5.261M	-$8.290M
YoY Change	-36.54%	-31.63%
Net Earnings / Revenue	-657.63%	-460.56%
Basic Earnings Per Share
Diluted Earnings Per Share	-$2.043M	-$65.16M
COMMON SHARES
Basic Shares Outstanding	7.732M shares	23.50M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2020 Q1	2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$8.915M	$1.828M
YoY Change	387.69%	117.62%
Cash & Equivalents	$8.900M	$24.68M
Short-Term Investments		$0.00
Other Short-Term Assets	$4.786M	$1.539M
YoY Change	210.98%	29.65%
Inventory	$1.408M	$1.860M
Prepaid Expenses	$1.535M	$1.539M
Receivables	$461.0K	$1.829M
Other Receivables	$3.150M	$0.00
Total Short-Term Assets	$15.57M	$29.91M
YoY Change	-47.95%	-23.47%
LONG-TERM ASSETS
Property, Plant & Equipment	$2.159M	$1.222M
YoY Change	76.68%	-14.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets		$563.0K
YoY Change		144.78%
Total Long-Term Assets	$3.659M	$2.456M
YoY Change	48.98%	72.71%
TOTAL ASSETS
Total Short-Term Assets	$15.57M	$29.91M
Total Long-Term Assets	$3.659M	$2.456M
Total Assets	$19.23M	$32.37M
YoY Change	-40.59%	-20.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.070M	$1.044M
YoY Change	2.49%	-54.69%
Accrued Expenses	$5.656M	$374.0K
YoY Change	1412.3%	-93.63%
Deferred Revenue	$462.0K	$370.0K
YoY Change	24.86%
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due		$19.95M
YoY Change		573.83%
Total Short-Term Liabilities	$7.188M	$25.03M
YoY Change	-71.28%	174.76%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00
YoY Change		-100.0%
Other Long-Term Liabilities	$969.0K	$0.00
YoY Change
Total Long-Term Liabilities	$969.0K	$819.0K
YoY Change	18.32%	-88.25%
TOTAL LIABILITIES
Total Short-Term Liabilities	$7.188M	$25.03M
Total Long-Term Liabilities	$969.0K	$819.0K
Total Liabilities	$8.157M	$25.85M
YoY Change	-68.44%	60.73%
SHAREHOLDERS EQUITY
Retained Earnings	-$177.7M	-$157.0M
YoY Change	13.18%	27.13%
Common Stock	$188.8M	$163.6M
YoY Change	15.41%	10.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$21.57M	$6.518M
YoY Change
Total Liabilities & Shareholders Equity	$19.23M	$32.37M
YoY Change	-40.59%	-20.09%

Cashflow Statement

Concept	2020 Q1	2019 Q1
OPERATING ACTIVITIES
Net Income	-$5.261M	-$8.290M
YoY Change	-36.54%	-31.63%
Depreciation, Depletion And Amortization	$103.0K	$433.0K
YoY Change	-76.21%	333.0%
Cash From Operating Activities	-$4.814M	-$9.642M
YoY Change	-50.07%	-9.05%
INVESTING ACTIVITIES
Capital Expenditures	$326.0K	$19.00K
YoY Change	1615.79%	-94.69%
Acquisitions
YoY Change
Other Investing Activities	$0.00	$0.00
YoY Change
Cash From Investing Activities	-$326.0K	$2.531M
YoY Change	-112.88%	-88.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$0.00	$607.0K
YoY Change	-100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	$0.00	$10.61M
YoY Change	-100.0%	37785.71%
NET CHANGE
Cash From Operating Activities	-$4.814M	-$9.642M
Cash From Investing Activities	-$326.0K	$2.531M
Cash From Financing Activities	$0.00	$10.61M
Net Change In Cash	-$5.140M	$3.497M
YoY Change	-246.98%	-71.73%
FREE CASH FLOW
Cash From Operating Activities	-$4.814M	-$9.642M
Capital Expenditures	$326.0K	$19.00K
Free Cash Flow	-$5.140M	-$9.661M
YoY Change	-46.8%	-11.85%

Facts In Submission

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CY2020Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2020
CY2020Q1	dei	Document Period End Date DocumentPeriodEndDate	2020-03-31
CY2020Q1	dei	Document Type DocumentType	10-Q
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CY2020Q1	dei	Entity Registrant Name EntityRegistrantName	OBALON THERAPEUTICS INC
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CY2020Q1	dei	Trading Symbol TradingSymbol	OBLN
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CY2019Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	1524000	USD
CY2020Q1	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	4607000	USD
CY2019Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	0	USD
CY2020Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-385000	USD
CY2019Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	19000	USD
CY2020Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	326000	USD
CY2019Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	1890000	USD
CY2020Q1	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	1535000	USD
CY2019Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	607000	USD
CY2020Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	0	USD
CY2019Q1	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	10000000	USD
CY2020Q1	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	0	USD
CY2019Q1	us-gaap	Proceeds From Maturities Prepayments And Calls Of Shortterm Investments ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments	2550000	USD
CY2020Q1	us-gaap	Proceeds From Maturities Prepayments And Calls Of Shortterm Investments ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments	0	USD
CY2019Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	1000	USD
CY2020Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	0	USD
CY2019Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	3407000	USD
CY2020Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	4588000	USD
CY2019Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1081000	USD
CY2020Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	2159000	USD
CY2019Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	2439000	USD
CY2020Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	1257000	USD
CY2019Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-172430000	USD
CY2020Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-177691000	USD
CY2020Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-177700000	USD
CY2019Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	1775000	USD
CY2019Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	1800000	USD
CY2020Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	780000	USD
CY2020Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	800000	USD
CY2019Q4	us-gaap	Sales And Excise Tax Payable Current SalesAndExciseTaxPayableCurrent	107000	USD
CY2020Q1	us-gaap	Sales And Excise Tax Payable Current SalesAndExciseTaxPayableCurrent	104000	USD
CY2019Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	6204000	USD
CY2020Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	3893000	USD
CY2019Q1	us-gaap	Share Based Compensation ShareBasedCompensation	1105000	USD
CY2020Q1	us-gaap	Share Based Compensation ShareBasedCompensation	470000	USD
CY2020Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	49016	shares
CY2020Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	27000	shares
CY2020Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	1.12
CY2020Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	0	USD
CY2019Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	518468	shares
CY2020Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	496452	shares
CY2019Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	38.64
CY2020Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	38.11
CY2020Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue	0	USD
CY2020Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber	308207	shares
CY2020Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice	48.71
CY2020Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue	0	USD
CY2020Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber	461421	shares
CY2020Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice	39.98
CY2020Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	0.00
CY2020Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice	23.70
CY2020Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	1.87
CY2020Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P6Y2M27D
CY2020Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1	P5Y9M29D
CY2020Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1	P6Y1M24D
CY2020Q1	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	0	shares
CY2019Q1	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	581000	USD
CY2019Q1	us-gaap	Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures	0	USD
CY2019Q1	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	1000	USD
CY2020Q1	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	0	USD
CY2019Q4	us-gaap	Stockholders Equity StockholdersEquity	15849000	USD
CY2020Q1	us-gaap	Stockholders Equity StockholdersEquity	11072000	USD
CY2018Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	13107000	USD
CY2019Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	6518000	USD
CY2019Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	15849000	USD
CY2020Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	11072000	USD
CY2019Q3	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	0.10
CY2019Q1	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	2311329	shares
CY2020Q1	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	7725205	shares
CY2020Q1	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Concentrations of Credit Risk </font></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash equivalents and trade accounts receivable, which are generally not collateralized. The Company limits its exposure to credit loss by placing its cash equivalents with high credit quality financial institutions and investing in high quality short-term debt instruments. The Company’s customers consist of physicians and institutions in the United States and one international distributor. The Company establishes customer credit policies related to its accounts receivable based on historical collection experiences within the various markets in which the Company operates, historical past-due amounts, and any specific information that the Company becomes aware of such as bankruptcy or liquidity issues of customers. </font></div></div>
CY2020Q1	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Reported amounts and note disclosures reflect the overall economic conditions that are most likely to occur and anticipated measures management intends to take. Actual results could differ materially from those estimates. All revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.</font></div></div>

Files In Submission

Name	View Source	Status
0001427570-20-000035-index-headers.html	Edgar Link	pending
0001427570-20-000035-index.html	Edgar Link	pending
0001427570-20-000035.txt	Edgar Link	pending
0001427570-20-000035-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
obln-20200331.xml	Edgar Link	completed
obln-20200331.xsd	Edgar Link	pending
obln-20200331_cal.xml	Edgar Link	unprocessable
obln-20200331_def.xml	Edgar Link	unprocessable
obln-20200331_lab.xml	Edgar Link	unprocessable
obln-20200331_pre.xml	Edgar Link	unprocessable
obln-33120x10q.htm	Edgar Link	pending
obln10233120.htm	Edgar Link	pending
obln10333120.htm	Edgar Link	pending
obln10433120.htm	Edgar Link	pending
obln10533120.htm	Edgar Link	pending
obln311-33120.htm	Edgar Link	pending
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$RSLS
ReShape Lifesciences Inc. Stock $rsls

2020 Q1 Form 10-Q Financial Statement

#000142757020000035 Filed on June 19, 2020

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$RSLS ReShape Lifesciences Inc. Stock $rsls

2020 Q1 Form 10-Q Financial Statement

#000142757020000035 Filed on June 19, 2020

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$RSLS
ReShape Lifesciences Inc. Stock $rsls