$STSS
Sharps Technology Inc.

2024 Q3 Form 10-Q Financial Statement

#000149315224032302 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.741M
YoY Change -24.58%
% of Gross Profit
Research & Development $145.6K $180.3K
YoY Change -35.34% -19.6%
% of Gross Profit
Depreciation & Amortization $194.5K $193.1K
YoY Change -7.39% -16.97%
% of Gross Profit
Operating Expenses $2.015M $1.921M
YoY Change -14.55% -24.14%
Operating Profit -$2.015M -$1.921M
YoY Change -14.55% -24.14%
Interest Expense -$172.6K
YoY Change -1138.39%
% of Operating Profit
Other Income/Expense, Net $330.1K -$181.2K
YoY Change -1.75% 146.6%
Pretax Income -$2.102M
YoY Change -19.32%
Income Tax
% Of Pretax Income
Net Earnings -$1.685M -$2.102M
YoY Change -16.68% -19.32%
Net Earnings / Revenue
Basic Earnings Per Share -$1.27 -$0.10
Diluted Earnings Per Share -$1.27 -$0.10
COMMON SHARES
Basic Shares Outstanding 28.59M shares 15.67M shares
Diluted Shares Outstanding 1.332M shares 21.56M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.483M
YoY Change -49.27%
Cash & Equivalents $2.473M $1.483M
Short-Term Investments
Other Short-Term Assets $162.3K
YoY Change -16.29%
Inventory $2.019M $1.886M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $4.654M $3.531M
YoY Change -32.86% -14.09%
LONG-TERM ASSETS
Property, Plant & Equipment $6.234M $6.282M
YoY Change -9.83% -11.43%
Goodwill
YoY Change
Intangibles $40.23K $42.42K
YoY Change -23.84% -30.45%
Long-Term Investments
YoY Change
Other Assets $366.3K $118.5K
YoY Change -30.46% -79.94%
Total Long-Term Assets $6.600M $6.401M
YoY Change -11.29% -16.7%
TOTAL ASSETS
Total Short-Term Assets $4.654M $3.531M
Total Long-Term Assets $6.600M $6.401M
Total Assets $11.25M $9.932M
YoY Change -21.69% -15.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $945.6K $878.0K
YoY Change 5.07% 6.35%
Accrued Expenses $231.3K
YoY Change -59.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.586M $2.553M
YoY Change 27.96% -12.35%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.586M $2.553M
Total Long-Term Liabilities $0.00
Total Liabilities $4.748M $2.715M
YoY Change 25.74% -12.56%
SHAREHOLDERS EQUITY
Retained Earnings -$29.92M -$28.23M
YoY Change 35.7% 40.99%
Common Stock $170.00 $2.860K
YoY Change -88.87% 145.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.506M $7.217M
YoY Change
Total Liabilities & Shareholders Equity $11.25M $9.932M
YoY Change -21.69% -15.79%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$1.685M -$2.102M
YoY Change -16.68% -19.32%
Depreciation, Depletion And Amortization $194.5K $193.1K
YoY Change -7.39% -16.97%
Cash From Operating Activities -$1.643M -$1.639M
YoY Change -18.24% -20.74%
INVESTING ACTIVITIES
Capital Expenditures $50.30K $16.51K
YoY Change -145.73% -90.79%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$1.000M
YoY Change -100.0%
Cash From Investing Activities -$50.30K -$1.017M
YoY Change -44.11% 467.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.736M 2.972M
YoY Change -42.89%
NET CHANGE
Cash From Operating Activities -1.643M -1.639M
Cash From Investing Activities -50.30K -1.017M
Cash From Financing Activities 2.736M 2.972M
Net Change In Cash 1.042M 316.1K
YoY Change -61.27% -114.06%
FREE CASH FLOW
Cash From Operating Activities -$1.643M -$1.639M
Capital Expenditures $50.30K $16.51K
Free Cash Flow -$1.694M -$1.656M
YoY Change -10.85% -26.33%

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us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_zLZV1TEa89Kd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_868_zfwf3yuYXK31">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; 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 June 30, 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p id="xdx_843_eus-gaap--LossContingencyDisclosures_zEmrISIUqCYl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_865_zg4lHnxLenje">Contingencies</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liabilities for loss contingencies arising from claims, assessments, litigations, fines and penalties and other sources are recognized when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. Gain contingencies are evaluated and not recognized until the gain is realizable or realized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
302107 usd
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
254461 usd
CY2024Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
116148 usd
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
170464 usd
CY2024Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1467577 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1284210 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
1885832 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
1709135 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8066495 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8037928 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1784179 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1215786 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6282316 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6822142 usd
us-gaap Depreciation
Depreciation
378636 usd
us-gaap Depreciation
Depreciation
445252 usd
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
42420 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
52513 usd
CY2024Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
76062 usd
CY2023Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
76062 usd
CY2024Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
118482 usd
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
128575 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
CY2024Q2 STSS Warrant Liabilities Current
WarrantLiabilitiesCurrent
1443662 usd
CY2023Q4 STSS Warrant Liabilities Current
WarrantLiabilitiesCurrent
2422785 usd
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20676319 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20541319 shares
CY2024Q2 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
822130 usd
CY2024Q2 STSS Fair Value Adjustment Of Modification Charge
FairValueAdjustmentOfModificationCharge
635253 usd
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
1672187 usd
CY2023Q2 STSS Gain Loss On Sale Of Derivative
GainLossOnSaleOfDerivative
90108 usd
STSS Gain Loss On Sale Of Derivative
GainLossOnSaleOfDerivative
93977 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
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1357000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.28
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
8214 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.42
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3775621 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.99
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2784399 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.56
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P46M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1357000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 STSS Share Based Compensation Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationOptionsExercisableWeightedAverageExercisePrice
0.285
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
355730 usd
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.93
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P11M
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
201918 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
319715 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2024Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
1483293 usd
CY2024Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
1483293 usd
CY2024Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
1443662 usd
CY2024Q2 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
1443662 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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