$VERU
VERU INC.

2020 Form 10-K Financial Statement

#000086389420000021 Filed on December 10, 2020

View on sec.gov

Income Statement

Concept 2020 2019 Q3 2019
Revenue $42.59M $8.730M $31.80M
YoY Change 33.92% 67.88% 100.47%
Cost Of Revenue $11.81M $2.900M $10.15M
YoY Change 16.35% 44.28% 43.07%
Gross Profit $30.79M $5.830M $21.66M
YoY Change 42.16% 82.76% 146.59%
Gross Profit Margin 72.28% 66.78% 68.1%
Selling, General & Admin $14.50M $3.610M $14.35M
YoY Change 1.04% -8.38% -3.1%
% of Gross Profit 47.09% 61.92% 66.26%
Research & Development $16.94M $3.610M $13.74M
YoY Change 23.22% 19.14% 26.66%
% of Gross Profit 55.01% 61.92% 63.46%
Depreciation & Amortization $146.0K $110.0K $470.0K
YoY Change -68.94% -8.33% 165.86%
% of Gross Profit 0.47% 1.89% 2.17%
Operating Expenses $31.43M $7.290M $28.09M
YoY Change 11.89% 4.59% -5.24%
Operating Profit -$14.75M -$1.460M -$6.436M
YoY Change 129.13% -61.38% -69.17%
Interest Expense $4.621M -$2.020M $4.706M
YoY Change -1.8% -3466.67% 59.5%
% of Operating Profit
Other Income/Expense, Net -$5.305M $20.00K -$5.885M
YoY Change -9.86% 167.53%
Pretax Income -$20.05M -$3.480M -$12.32M
YoY Change 62.74% -6.2% -46.6%
Income Tax -$1.078M -$420.0K -$303.9K
% Of Pretax Income
Net Earnings -$18.97M -$3.060M -$12.02M
YoY Change 57.88% -61.36% -49.8%
Net Earnings / Revenue -44.55% -35.05% -37.79%
Basic Earnings Per Share -$0.28
Diluted Earnings Per Share -$0.28 -$47.03K -$189.8K
COMMON SHARES
Basic Shares Outstanding 66.75M 65.04M
Diluted Shares Outstanding 66.75M

Balance Sheet

Concept 2020 2019 Q3 2019
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.59M $6.300M $6.300M
YoY Change 115.71% 65.79% 67.55%
Cash & Equivalents $6.295M
Short-Term Investments
Other Short-Term Assets $1.490M $1.800M $1.840M
YoY Change -19.02% 63.64% 60.0%
Inventory $6.700M $3.647M $3.650M
Prepaid Expenses
Receivables $5.310M $5.021M $5.070M
Other Receivables -$80.00K -$100.0K -$50.00K
Total Short-Term Assets $27.01M $16.81M $16.81M
YoY Change 60.68% 50.3% 50.36%
LONG-TERM ASSETS
Property, Plant & Equipment $1.670M $351.9K $350.0K
YoY Change 377.14% -13.02% -12.5%
Goodwill $6.879M
YoY Change 0.0%
Intangibles $20.17M
YoY Change -1.51%
Long-Term Investments
YoY Change
Other Assets $10.23M $988.9K $9.420M
YoY Change 8.6% 2.46% -0.95%
Total Long-Term Assets $24.53M $36.82M $36.82M
YoY Change -33.38% -1.2% -1.21%
TOTAL ASSETS
Total Short-Term Assets $27.01M $16.81M $16.81M
Total Long-Term Assets $24.53M $36.82M $36.82M
Total Assets $51.54M $53.63M $53.63M
YoY Change -3.9% 10.68% 10.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.810M $3.125M $3.120M
YoY Change -9.94% -3.14% -3.41%
Accrued Expenses $4.950M $5.500M $5.510M
YoY Change -10.16% 61.76% 60.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $6.960M $5.400M $5.390M
YoY Change 29.13% -19.4% -19.43%
Total Short-Term Liabilities $14.73M $14.02M $14.02M
YoY Change 5.06% 3.45% 3.47%
LONG-TERM LIABILITIES
Long-Term Debt $5.630M $6.700M $6.730M
YoY Change -16.34% 282.03% 50.9%
Other Long-Term Liabilities $1.010M $247.2K $250.0K
YoY Change 304.0% 723.85% 108.33%
Total Long-Term Liabilities $6.640M $247.2K $6.980M
YoY Change -4.87% -86.14% 52.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.73M $14.02M $14.02M
Total Long-Term Liabilities $6.640M $247.2K $6.980M
Total Liabilities $21.43M $21.30M $21.30M
YoY Change 0.61% 12.25% 12.28%
SHAREHOLDERS EQUITY
Retained Earnings -$70.22M
YoY Change 20.65%
Common Stock $672.2K
YoY Change 16.97%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.807M
YoY Change 0.0%
Treasury Stock Shares $2.184M
Shareholders Equity $30.11M $32.33M $32.33M
YoY Change
Total Liabilities & Shareholders Equity $51.54M $53.63M $53.63M
YoY Change -3.9% 10.68% 10.69%

Cashflow Statement

Concept 2020 2019 Q3 2019
OPERATING ACTIVITIES
Net Income -$18.97M -$3.060M -$12.02M
YoY Change 57.88% -61.36% -49.8%
Depreciation, Depletion And Amortization $146.0K $110.0K $470.0K
YoY Change -68.94% -8.33% 165.86%
Cash From Operating Activities -$1.930M -$960.0K -$5.485M
YoY Change -64.81% -65.96% -52.49%
INVESTING ACTIVITIES
Capital Expenditures $105.8K -$40.00K $108.5K
YoY Change -2.54% 114.23%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$105.8K -$40.00K -$108.5K
YoY Change -2.54% 114.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $13.40M $3.600M
YoY Change 272.22% 20.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.329M -750.0K 8.129M
YoY Change 14.76% -175.0% -32.7%
NET CHANGE
Cash From Operating Activities -1.930M -960.0K -5.485M
Cash From Investing Activities -105.8K -40.00K -108.5K
Cash From Financing Activities 9.329M -750.0K 8.129M
Net Change In Cash 7.294M -1.750M 2.536M
YoY Change 187.64% -3.85% 426.17%
FREE CASH FLOW
Cash From Operating Activities -$1.930M -$960.0K -$5.485M
Capital Expenditures $105.8K -$40.00K $108.5K
Free Cash Flow -$2.036M -$920.0K -$5.594M
YoY Change -63.6% -67.38% -51.77%

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<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;text-decoration:underline;">Recent accounting pronouncements not yet adopted</font><font style="display: inline;">:&nbsp;&nbsp;In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other Topics (Topic 350): Simplifying the Test for Goodwill Impairment. The purpose of ASU 2017-04 is to reduce the cost and complexity of evaluating goodwill for impairment. It eliminates the need for entities to calculate the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. Under this amendment, an entity will perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge is recognized for the amount by which the carrying value exceeds the reporting unit's fair value. ASU 2017-04 is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December&nbsp;15, 2019 and will be applied on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January&nbsp;1, 2017. We do not expect the adoption of ASU 2017-04 to have a material effect on our financial position or results of operations. </font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;">In August 2018, the FASB issued ASU 2018-13, </font><font style="display: inline;font-style:italic;color:#000000;">Fair Value Measurement (Topic 820): Disclosure Framework &#x2013; Change to the Disclosure Requirements for Fair Value Measurement</font><font style="display: inline;color:#000000;">. ASU 2018-13 </font><font style="display: inline;color:#000000;">modifies the disclosure requirements by adding, removing, and modifying certain required disclosures for fair value measurements for assets and liabilities disclosed within the fair value hierarchy. ASU 2018-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December&nbsp;15, 2019 and will be applied retrospectively for all periods presented. Early adoption is permitted</font><font style="display: inline;color:#000000;">. The adoption of ASU 2018-13 is not expected to have a material effect on our financial position or results of operations </font><font style="display: inline;color:#000000;">as it modifies disclosure requirements only.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740). Simplifying the Accounting for Income Taxes. The new guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of the accounting for income taxes. ASU 2019-12 is effective for fiscal years, and interim periods within those fiscal years, beginning after December&nbsp;15, 2020 and the applicable amendments will be applied on a prospective basis. Early adoption is permitted. The adoption of ASU 2019-12 is not expected to have a material effect on our consolidated financial statements and related disclosures.</font> </p> <p><font size="1"> </font></p> </div> </div>
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557000
CY2018Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
2426000
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
3625000
CY2020Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
4182000
CY2020 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
5189
CY2020Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
28528
CY2020Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
21000
CY2020Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
8000
CY2020Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
31696
CY2020Q3 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
CY2020Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
22200
CY2020Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
9496
CY2020Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
3168
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
13783
CY2020Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
34000
CY2020 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
8713
CY2020Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.139
CY2020Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y4M24D
CY2019Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
731505
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1047873
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
292500
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
323706
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
283940
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
281603
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
339062
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
331316
CY2019Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2900000
CY2020Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2900000
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2168495
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1852127
CY2019 us-gaap Gain Loss On Derivative Instruments Held For Trading Purposes Net
GainLossOnDerivativeInstrumentsHeldForTradingPurposesNet
-1199000
CY2020 us-gaap Gain Loss On Derivative Instruments Held For Trading Purposes Net
GainLossOnDerivativeInstrumentsHeldForTradingPurposesNet
-557000
CY2019Q3 us-gaap Goodwill
Goodwill
6878932
CY2020Q3 us-gaap Goodwill
Goodwill
6878932
CY2019 us-gaap Gross Profit
GrossProfit
21656822
CY2020 us-gaap Gross Profit
GrossProfit
30786858
CY2020 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
14100000
CY2020Q3 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
14100000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-12321299
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-20051976
CY2019 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
303582
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
362060
CY2019 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2020 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-303933
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1078441
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
2199131
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
4244531
CY2019 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
67637
CY2020 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
238645
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-2587472
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-4210916
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
8171
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
114699
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
51490
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
54689
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-200385
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-326045
CY2019 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2003387
CY2020 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-946390
CY2020 us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
-557000
CY2019Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
20900000
CY2020Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
6800000
CY2019Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
20168495
CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
5752127
CY2019 us-gaap Interest Expense
InterestExpense
4706056
CY2020 us-gaap Interest Expense
InterestExpense
4621422
CY2020 us-gaap Interest Paid Net
InterestPaidNet
314495
CY2020Q3 us-gaap Liabilities
Liabilities
21432359
CY2019Q3 us-gaap Inventory Net
InventoryNet
3647406
CY2020Q3 us-gaap Inventory Net
InventoryNet
6704134
CY2020 us-gaap Inventory Write Down
InventoryWriteDown
244823
CY2019 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
683000
CY2020 us-gaap Lease Cost
LeaseCost
492094
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1932439
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
621661
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
169577
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
196963
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
424152
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
520086
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
355650
CY2019Q3 us-gaap Liabilities
Liabilities
21295634
CY2019Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
53628770
CY2020Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
51543675
CY2019Q3 us-gaap Liabilities Current
LiabilitiesCurrent
14019975
CY2020Q3 us-gaap Liabilities Current
LiabilitiesCurrent
14727141
CY2019Q3 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
5385649
CY2020Q3 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
5841874
CY2019Q3 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
2886382
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8129367
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9329481
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-108517
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-105760
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1930095
CY2019 us-gaap Net Income Loss
NetIncomeLoss
-12017366
CY2019 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-5885405
CY2020 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-5305282
CY2020Q3 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
150
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2019 us-gaap Operating Expenses
OperatingExpenses
28092716
CY2020 us-gaap Operating Expenses
OperatingExpenses
45533552
CY2019 us-gaap Operating Income Loss
OperatingIncomeLoss
-6435894
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
-14746694
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
496803
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
1576789
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
586769
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
990020
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
479000
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1352315
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1365940
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
469002
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
11238
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
114493
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
337456
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
433751
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
786754
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
198668
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
190749
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
203584
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear
193753
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.115
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y7M6D
CY2019Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
988867
CY2020Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
766120
CY2019 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0
CY2020 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0
CY2019Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1436888
CY2020Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
22980
CY2020 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-4306927
CY2019 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
142590
CY2020 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
6091
CY2020 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
50284
CY2020Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1177126
CY2019Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
247154
CY2019 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-4706056
CY2019 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
19651
CY2020 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-126860
CY2020 us-gaap Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
680937
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
108517
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
105760
CY2019Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1843297
CY2020Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1494541
CY2020 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;text-decoration:underline;">Reclassifications:</font><font style="display: inline;">&nbsp;</font><font style="display: inline;"> Certain prior period amounts in the accompanying consolidated financial statements have been reclassified to conform with the current period presentation. </font><font style="display: inline;">These reclassifications had no effect on </font><font style="display: inline;color:#000000;">the results of operations or financial position for any period presented.</font> </p> <p><font size="1"> </font></p> </div> </div>
CY2020Q3 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
500000
CY2019 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
9400000
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3600000
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
13399999
CY2020 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
836780
CY2019 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
333000
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3810761
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3855224
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
351895
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
312691
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
415464
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
CY2019 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
4935600
CY2020 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
4421915
CY2020 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
836780
CY2019 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
13743826
CY2020 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
16935222
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-70219017
CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-89192552
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
31803387
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
42592060
CY2020Q3 veru Deferred Tax Assets Foreign Capital Allowance
DeferredTaxAssetsForeignCapitalAllowance
113522
CY2019 us-gaap Revenues
Revenues
31803387
CY2020 us-gaap Revenues
Revenues
42592060
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1673215
CY2020 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
2646246
CY2019 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
333000
CY2020 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
415464
CY2019 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
14348890
CY2020 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
14498330
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
1906098
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
2646246
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
274000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1100000
CY2018Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.40
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
7452
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
29481418
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
32333136
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
30111316
CY2018Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
7142857
CY2019 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
9131967
CY2020 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
680937
CY2018Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
9100000
CY2019 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3600000
CY2020 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
13399999
CY2019 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
1906098
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
3200000
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
153852
CY2019 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
63323127
CY2020 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66753450
CY2019Q3 veru Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
2475490
CY2020Q3 veru Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
934110
CY2019 veru Acquisition Of Property Plant And Equipment Through Capital Lease
AcquisitionOfPropertyPlantAndEquipmentThroughCapitalLease
43567
CY2019Q3 veru Allowance For Sales And Payment Term Discounts
AllowanceForSalesAndPaymentTermDiscounts
49623
CY2020Q3 veru Allowance For Sales And Payment Term Discounts
AllowanceForSalesAndPaymentTermDiscounts
79906
CY2019 veru Amortization Of Deferred Costs Related To Stock Issuance
AmortizationOfDeferredCostsRelatedToStockIssuance
101981
CY2020 veru Amortization Of Deferred Costs Related To Stock Issuance
AmortizationOfDeferredCostsRelatedToStockIssuance
390931
CY2019Q3 veru Capitalized Nonrefundable Advance Research And Development Payments
CapitalizedNonrefundableAdvanceResearchAndDevelopmentPayments
0
CY2020Q3 veru Capitalized Nonrefundable Advance Research And Development Payments
CapitalizedNonrefundableAdvanceResearchAndDevelopmentPayments
0
CY2020 veru Common Stock Voting Rights Per Share
CommonStockVotingRightsPerShare
1
CY2020 us-gaap Sublease Income
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179915
CY2019Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
2183704
CY2020Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
2183704
CY2019Q3 us-gaap Treasury Stock Value
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7806605
CY2020Q3 us-gaap Treasury Stock Value
TreasuryStockValue
7806605
CY2019Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;text-decoration:underline;">Use of estimates:</font><font style="display: inline;"> &nbsp;The preparation of financial statements in conformity with </font><font style="display: inline;color:#000000;">accounting principles generally accepted in the United States (U.S. GAAP)</font><font style="display: inline;"> requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</font> </p> <p><font size="1"> </font></p> </div> </div>
CY2020Q3 veru Deferred Tax Asset Change In Small Business Status
DeferredTaxAssetChangeInSmallBusinessStatus
900000
CY2019Q3 veru Deferred Tax Assets Foreign Capital Allowance
DeferredTaxAssetsForeignCapitalAllowance
103400
CY2019Q3 veru Deferred Tax Liabilities Developed Technology
DeferredTaxLiabilitiesDevelopedTechnology
424657
CY2020Q3 veru Deferred Tax Liabilities Developed Technology
DeferredTaxLiabilitiesDevelopedTechnology
369237
CY2019Q3 veru Deferred Tax Liabilities Foreign Other
DeferredTaxLiabilitiesForeignOther
3865
CY2020Q3 veru Deferred Tax Liabilities Foreign Other
DeferredTaxLiabilitiesForeignOther
11297
CY2019Q3 veru Deferred Tax Liabilities In Process R And D
DeferredTaxLiabilitiesInProcessRAndD
4072740
CY2020Q3 veru Deferred Tax Liabilities In Process R And D
DeferredTaxLiabilitiesInProcessRAndD
882427
CY2019 veru Depreciation And Other Amortization
DepreciationAndOtherAmortization
162187
CY2020 veru Depreciation And Other Amortization
DepreciationAndOtherAmortization
146373
CY2019 veru Income Tax Reconciliation Effect Of Global Intangible Low Taxed Income
IncomeTaxReconciliationEffectOfGlobalIntangibleLowTaxedIncome
99514
CY2020 veru Income Tax Reconciliation Effect Of Global Intangible Low Taxed Income
IncomeTaxReconciliationEffectOfGlobalIntangibleLowTaxedIncome
143219
CY2019 veru Income Tax Reconciliation Effect Of Global Intangible Low Taxed Income Percent
IncomeTaxReconciliationEffectOfGlobalIntangibleLowTaxedIncomePercent
-0.008
CY2020 veru Income Tax Reconciliation Effect Of Global Intangible Low Taxed Income Percent
IncomeTaxReconciliationEffectOfGlobalIntangibleLowTaxedIncomePercent
-0.007
CY2020 veru Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-320244
CY2020 veru Intangible Assets Measurement Input
IntangibleAssetsMeasurementInput
0.41
CY2020Q3 veru Lessee Sublease Future Minimum Payments Due
LesseeSubleaseFutureMinimumPaymentsDue
593000
CY2020Q3 veru Lessee Sublease Future Minimum Payments Due After Year Five
LesseeSubleaseFutureMinimumPaymentsDueAfterYearFive
CY2020Q3 veru Lessee Sublease Future Minimum Payments Due Next Twelve Months
LesseeSubleaseFutureMinimumPaymentsDueNextTwelveMonths
198668
CY2020Q3 veru Lessee Sublease Future Minimum Payments Due Year Three
LesseeSubleaseFutureMinimumPaymentsDueYearThree
190749
CY2020Q3 veru Lessee Sublease Future Minimum Payments Due Year Two
LesseeSubleaseFutureMinimumPaymentsDueYearTwo
203583
CY2020Q3 veru Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
44000
CY2020 veru Reduction Of Research And Development Expense Cares Act
ReductionOfResearchAndDevelopmentExpenseCaresAct
120000
CY2020 veru Reduction Of Selling General And Administrative Expense Cares Act
ReductionOfSellingGeneralAndAdministrativeExpenseCaresAct
420000
CY2020Q3 veru Residual Royalty Agreement Current
ResidualRoyaltyAgreementCurrent
1100193
CY2019Q3 veru Residual Royalty Agreement Noncurrent
ResidualRoyaltyAgreementNoncurrent
3845518
CY2020Q3 veru Residual Royalty Agreement Noncurrent
ResidualRoyaltyAgreementNoncurrent
5617494
CY2020 veru Number Of Countries In Which Entity Markets Directly To Consumers
NumberOfCountriesInWhichEntityMarketsDirectlyToConsumers
22
CY2020 veru Number Of Primary Financial Institutions Where Cash Is Maintained
NumberOfPrimaryFinancialInstitutionsWhereCashIsMaintained
3
CY2020 veru Operating Lease Right Of Use Assets Non Cash Change
OperatingLeaseRightOfUseAssetsNonCashChange
320900
CY2019Q3 veru Operating Leases Future Minimum Payments Due Net Of Sublease Income
OperatingLeasesFutureMinimumPaymentsDueNetOfSubleaseIncome
579186
CY2019Q3 veru Operating Leases Future Minimum Payments Due Net Of Sublease Income Current
OperatingLeasesFutureMinimumPaymentsDueNetOfSubleaseIncomeCurrent
275249
CY2019Q3 veru Operating Leases Future Minimum Payments Due Net Of Sublease Income Year Five
OperatingLeasesFutureMinimumPaymentsDueNetOfSubleaseIncomeYearFive
11238
CY2019Q3 veru Operating Leases Future Minimum Payments Due Net Of Sublease Income Year Four
OperatingLeasesFutureMinimumPaymentsDueNetOfSubleaseIncomeYearFour
-76256
CY2019Q3 veru Operating Leases Future Minimum Payments Due Net Of Sublease Income Year Three
OperatingLeasesFutureMinimumPaymentsDueNetOfSubleaseIncomeYearThree
133872
CY2019Q3 veru Operating Leases Future Minimum Payments Due Net Of Sublease Income Year Two
OperatingLeasesFutureMinimumPaymentsDueNetOfSubleaseIncomeYearTwo
235083
CY2019 veru Payments Of Stock Issuance Costs For Initial Public Offering
PaymentsOfStockIssuanceCostsForInitialPublicOffering
268033
CY2020Q2 veru Proceeds From Ppp Loan Cares Act
ProceedsFromPppLoanCaresAct
540000
CY2020Q3 veru Product Liability Insurance Coverage Amount
ProductLiabilityInsuranceCoverageAmount
10000000
CY2019Q3 veru Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
44000
CY2020Q3 veru Shelf Registration Statement Capacity
ShelfRegistrationStatementCapacity
150000000

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