$STSS
Sharps Technology Inc.

2024 Q2 Form 10-Q Financial Statement

#000149315224019255 Filed on May 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.741M $1.647M $2.096M
YoY Change -24.58% -17.0% 1.91%
% of Gross Profit
Research & Development $180.3K $197.4K $262.2K
YoY Change -19.6% -40.87% -65.5%
% of Gross Profit
Depreciation & Amortization $193.1K $190.1K $222.2K
YoY Change -16.97% -10.37% -40.17%
% of Gross Profit
Operating Expenses $1.921M $1.844M $2.358M
YoY Change -24.14% -20.44% -16.28%
Operating Profit -$1.921M -$1.844M
YoY Change -24.14% -20.44%
Interest Expense -$172.6K $869.1K -$425.0K
YoY Change -1138.39% 3872.03% -107.87%
% of Operating Profit
Other Income/Expense, Net -$181.2K $861.7K $211.5K
YoY Change 146.6% 318.35% -106.16%
Pretax Income -$2.102M -$982.4K -$3.132M
YoY Change -19.32% -53.48% 268.61%
Income Tax -$30.00K
% Of Pretax Income
Net Earnings -$2.102M -$982.4K -$3.102M
YoY Change -19.32% -53.48% 265.08%
Net Earnings / Revenue
Basic Earnings Per Share -$0.10 -$0.05
Diluted Earnings Per Share -$0.10 -$0.05 -$0.17
COMMON SHARES
Basic Shares Outstanding 15.67M shares 15.67M shares 15.27M shares
Diluted Shares Outstanding 21.56M shares 18.66M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.483M $1.166M $3.013M
YoY Change -49.27% -77.82% -27.76%
Cash & Equivalents $1.483M $1.166M $3.013M
Short-Term Investments
Other Short-Term Assets $162.3K $202.3K $116.5K
YoY Change -16.29% 63.94% 74.55%
Inventory $1.886M $1.842M $1.709M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $3.531M $3.211M $4.839M
YoY Change -14.09% -45.83% 9.38%
LONG-TERM ASSETS
Property, Plant & Equipment $6.282M $6.471M $6.822M
YoY Change -11.43% -10.67% -2.61%
Goodwill
YoY Change
Intangibles $42.42K $46.18K $52.51K
YoY Change -30.45% -27.19% -15.95%
Long-Term Investments
YoY Change
Other Assets $118.5K $122.2K $76.06K
YoY Change -79.94% -66.02% -81.51%
Total Long-Term Assets $6.401M $6.593M $6.951M
YoY Change -16.7% -13.29% -6.28%
TOTAL ASSETS
Total Short-Term Assets $3.531M $3.211M $4.839M
Total Long-Term Assets $6.401M $6.593M $6.951M
Total Assets $9.932M $9.804M $11.79M
YoY Change -15.79% -27.55% -0.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $878.0K $753.8K $794.1K
YoY Change 6.35% -20.59% -7.09%
Accrued Expenses $231.3K $454.7K $476.1K
YoY Change -59.71%
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 $2.553M $2.781M $3.693M
YoY Change -12.35% 17.24% 84.05%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.553M $2.781M $3.693M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.715M $2.943M $3.855M
YoY Change -12.56% 14.78% 75.34%
SHAREHOLDERS EQUITY
Retained Earnings -$28.23M -$26.13M -$25.15M
YoY Change 40.99% 50.01% 64.29%
Common Stock $2.860K $1.568K $1.528K
YoY Change 145.28% 34.48% 62.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.217M $6.861M $7.934M
YoY Change
Total Liabilities & Shareholders Equity $9.932M $9.804M $11.79M
YoY Change -15.79% -27.55% -0.43%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$2.102M -$982.4K -$3.102M
YoY Change -19.32% -53.48% 265.08%
Depreciation, Depletion And Amortization $193.1K $190.1K $222.2K
YoY Change -16.97% -10.37% -40.17%
Cash From Operating Activities -$1.639M -$1.889M -$2.367M
YoY Change -20.74% -8.4% 15.92%
INVESTING ACTIVITIES
Capital Expenditures $16.51K $2.850K $468.3K
YoY Change -90.79% -98.25% -81.55%
Acquisitions
YoY Change
Other Investing Activities -$1.000M $2.852K
YoY Change
Cash From Investing Activities -$1.017M -$2.852K -$268.3K
YoY Change 467.06% -98.25% 55.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.972M $396.00 -370.0
YoY Change -99.99%
NET CHANGE
Cash From Operating Activities -1.639M -$1.889M -2.367M
Cash From Investing Activities -1.017M -$2.852K -268.3K
Cash From Financing Activities 2.972M $396.00 -370.0
Net Change In Cash 316.1K -$1.847M -2.636M
YoY Change -114.06% -270.02% 19.02%
FREE CASH FLOW
Cash From Operating Activities -$1.639M -$1.889M -$2.367M
Capital Expenditures $16.51K $2.850K $468.3K
Free Cash Flow -$1.656M -$1.892M -$2.836M
YoY Change -26.33% -14.99% -38.09%

Facts In Submission

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<p id="xdx_84F_eus-gaap--UseOfEstimates_z6NfR2vh8cK8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_867_zeg1jUkG25Kh">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. As of March 31, 2024, the most significant estimates relate to derivative liabilities and stock-based compensation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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6822142 usd
CY2024Q1 us-gaap Depreciation
Depreciation
190121 usd
CY2023Q1 us-gaap Depreciation
Depreciation
212109 usd
CY2024Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
100000 usd
CY2024Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
46180 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
52513 usd
CY2024Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
76062 usd
CY2023Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
76062 usd
CY2024Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
122242 usd
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
128575 usd
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5290 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3980 usd
CY2017Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
20000000 shares
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000 shares
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Conversion Of Stock Description
ConversionOfStockDescription
Pursuant to the merger agreement, (i) the Company merged with and into Sharps Nevada, (ii) each 3.5 shares of common stock of the Company were converted into one share of common stock of Sharps Nevada and (iii) the articles of incorporation and bylaws of Sharps Nevada, became the articles of incorporation and bylaws of the surviving corporation.
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000 shares
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5600000 usd
CY2023Q3 us-gaap Other Expenses
OtherExpenses
716000 usd
CY2022Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
9000000.0 usd
CY2022Q2 STSS Warrant Liabilities Current
WarrantLiabilitiesCurrent
5200000 usd
CY2024Q1 STSS Warrant Liabilities Current
WarrantLiabilitiesCurrent
1572728 usd
CY2023Q4 STSS Warrant Liabilities Current
WarrantLiabilitiesCurrent
2422785 usd
CY2024Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20676319 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20541319 shares
CY2024Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
850057 usd
CY2023Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
184085 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2408836 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.03
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2408836 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.03
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2026788 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.34
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
355730 usd
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.93
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P14M
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
117797 usd
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2024Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
1165913 usd
CY2024Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
1165913 usd
CY2024Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
1572728 usd
CY2024Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
1572728 usd
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
3012908 usd
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
3012908 usd
CY2023Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
2422785 usd
CY2023Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
2422785 usd

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