$VERU
VERU INC.

2023 Q4 Form 10-K Financial Statement

#000086389423000017 Filed on December 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2023
Revenue $2.141M $3.862M $16.30M
YoY Change -14.64% 49.19% -58.59%
Cost Of Revenue $990.3K $2.321M $8.731M
YoY Change -45.16% 11.41% -0.36%
Gross Profit $1.150M $1.541M $7.566M
YoY Change 63.87% 204.94% -75.27%
Gross Profit Margin 53.74% 39.91% 46.43%
Selling, General & Admin $8.301M $6.775M $48.06M
YoY Change -52.69% -62.96% 11.33%
% of Gross Profit 721.57% 439.57% 635.19%
Research & Development $1.650M $6.604M $51.14M
YoY Change -91.2% -75.44% -27.61%
% of Gross Profit 143.43% 428.52% 675.9%
Depreciation & Amortization $72.13K $69.87K $198.0K
YoY Change 60.29% 11.9% 43.48%
% of Gross Profit 6.27% 4.53% 2.62%
Operating Expenses $9.951M $13.38M $107.0M
YoY Change -72.58% -70.39% -5.98%
Operating Profit -$8.801M -$11.84M -$93.72M
YoY Change -75.27% -73.5% 12.61%
Interest Expense -$167.0K $436.8K $2.427M
YoY Change -119.12% -86.77% -44.45%
% of Operating Profit
Other Income/Expense, Net -$298.8K $164.7K $1.110M
YoY Change -77.4% -54.23% -451.11%
Pretax Income -$8.348M -$10.24M -$92.61M
YoY Change -77.38% -75.04% 10.86%
Income Tax -$72.44K $557.5K $480.2K
% Of Pretax Income
Net Earnings -$8.276M -$10.79M -$93.09M
YoY Change -77.54% -73.69% 11.12%
Net Earnings / Revenue -386.6% -279.48% -571.2%
Basic Earnings Per Share -$0.08 -$1.10
Diluted Earnings Per Share -$0.08 -$0.12 -$1.10
COMMON SHARES
Basic Shares Outstanding 93.67M 90.28M 84.97M
Diluted Shares Outstanding 100.6M 84.97M

Balance Sheet

Concept 2023 Q4 2023 Q3 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.58M $9.625M $9.625M
YoY Change -13.53% -88.0% -88.0%
Cash & Equivalents $40.58M $9.625M $9.625M
Short-Term Investments
Other Short-Term Assets $3.470M $2.677M $2.677M
YoY Change -74.26% -78.43% -78.43%
Inventory $6.912M $6.697M $6.697M
Prepaid Expenses
Receivables $2.383M $4.507M $4.507M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $53.34M $23.51M $23.51M
YoY Change -26.93% -77.56% -77.56%
LONG-TERM ASSETS
Property, Plant & Equipment $5.694M $1.653M $5.985M
YoY Change 299.31% 39.38% 0.21%
Goodwill $6.900M $6.900M
YoY Change 0.0% 0.0%
Intangibles $5.952K
YoY Change -99.85%
Long-Term Investments $538.5K
YoY Change
Other Assets $14.11M $1.512M $14.22M
YoY Change 1547.62% -3.15% 2.94%
Total Long-Term Assets $27.22M $27.09M $27.09M
YoY Change -11.54% -13.61% -13.61%
TOTAL ASSETS
Total Short-Term Assets $53.34M $23.51M $23.51M
Total Long-Term Assets $27.22M $27.09M $27.09M
Total Assets $80.57M $50.60M $50.60M
YoY Change -22.37% -62.83% -62.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.52M $14.58M $14.58M
YoY Change -0.46% -33.75% -33.75%
Accrued Expenses $4.889M $4.632M $4.632M
YoY Change -81.9% -74.15% -74.15%
Deferred Revenue $105.0K
YoY Change
Short-Term Debt $0.00 $100.0K $100.0K
YoY Change
Long-Term Debt Due $825.2K $864.6K $864.6K
YoY Change -51.13% -26.04% -26.04%
Total Short-Term Liabilities $16.62M $20.28M $20.28M
YoY Change -58.52% -51.06% -51.06%
LONG-TERM LIABILITIES
Long-Term Debt $8.883M $8.870M $8.870M
YoY Change -15.8% -8.14% -8.14%
Other Long-Term Liabilities $3.456M $29.95K $3.664M
YoY Change 13320.42% 61.21% -10.9%
Total Long-Term Liabilities $12.34M $29.95K $12.53M
YoY Change 47812.48% 61.21% -8.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.62M $20.28M $20.28M
Total Long-Term Liabilities $12.34M $29.95K $12.53M
Total Liabilities $28.96M $32.81M $32.81M
YoY Change -47.03% -40.65% -40.65%
SHAREHOLDERS EQUITY
Retained Earnings -$265.0M -$258.7M
YoY Change 30.94% 56.22%
Common Stock $1.486M $939.7K
YoY Change 79.41% 13.63%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.807M $7.807M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $51.60M $17.78M $17.78M
YoY Change
Total Liabilities & Shareholders Equity $80.57M $50.60M $50.60M
YoY Change -22.37% -62.83% -62.83%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2023
OPERATING ACTIVITIES
Net Income -$8.276M -$10.79M -$93.09M
YoY Change -77.54% -73.69% 11.12%
Depreciation, Depletion And Amortization $72.13K $69.87K $198.0K
YoY Change 60.29% 11.9% 43.48%
Cash From Operating Activities -$6.020M -$9.494M -$88.01M
YoY Change -82.57% -54.53% 85.27%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $215.7K $665.7K
YoY Change -100.0% -244.96% -9.19%
Acquisitions
YoY Change
Other Investing Activities $1.000M $7.000M
YoY Change 40.0%
Cash From Investing Activities $0.00 $784.3K $6.334M
YoY Change -100.0% -627.05% 48.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 36.97M 2.114M 11.11M
YoY Change 2276.06% 216.82% 939.5%
NET CHANGE
Cash From Operating Activities -6.020M -9.494M -88.01M
Cash From Investing Activities 0.000 784.3K 6.334M
Cash From Financing Activities 36.97M 2.114M 11.11M
Net Change In Cash 30.95M -6.595M -70.57M
YoY Change -193.06% -67.61% 67.34%
FREE CASH FLOW
Cash From Operating Activities -$6.020M -$9.494M -$88.01M
Capital Expenditures $0.00 $215.7K $665.7K
Free Cash Flow -$6.020M -$9.710M -$88.68M
YoY Change -82.71% -53.16% 83.84%

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CY2023 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
290
CY2022 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1723
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4153327
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-4537829
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-648628
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3126710
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-10004978
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2352547
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-7426770
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
18593623
CY2023 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-13621843
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
8698314
CY2023 veru Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-666863
CY2022 veru Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-468546
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-88013814
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-47505004
CY2023 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
7000000
CY2022 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
5000000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
665700
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
733052
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
6334300
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4266948
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
389058
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1078289
CY2023 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
263757
CY2023 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1425174
CY2023 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1292199
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
9093
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11114333
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1069196
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-70565181
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-42168860
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
80190675
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
122359535
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9625494
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
80190675
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
247361
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
422135
CY2023 us-gaap Interest Paid Net
InterestPaidNet
554818
CY2022 us-gaap Interest Paid Net
InterestPaidNet
2620609
CY2023 veru Share Issued In Connection With Common Stock Purchase Agreement
ShareIssuedInConnectionWithCommonStockPurchaseAgreement
1008000
CY2023 veru Amortizationofdeferredcostsrelatedtostockissuance
Amortizationofdeferredcostsrelatedtostockissuance
138182
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
286815
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4411474
CY2023Q3 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
150
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;text-decoration: underline;">Use of estimates:</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> The preparation of financial statements in conformity with </span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">accounting principles generally accepted in the United States (U.S. GAAP)</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> 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.</span>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;text-decoration: underline;">Cash and cash equivalents and concentration</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">: Cash and cash equivalents, which primarily consist of cash on deposit with financial institutions and highly liquid money market funds, are recorded in the consolidated balance sheets at cost, which approximates fair value. The Company treats short-term, highly liquid funds that are readily convertible to known amounts of cash and have original maturities of three months or less as cash equivalents. The Company’s cash is maintained primarily in </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">three</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> financial institutions, located in Chicago, Illinois; London, England; and Kuala Lumpur, Malaysia.</span>
CY2023 veru Number Of Primary Financial Institutions Where Cash Is Maintained
NumberOfPrimaryFinancialInstitutionsWhereCashIsMaintained
3
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0
CY2023 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4827650
CY2023 us-gaap Number Of Reporting Units
NumberOfReportingUnits
2
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3900000
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3787954
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3641884
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1652732
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1185766
CY2023Q3 veru Capitalized Nonrefundable Advance Research And Development Payments
CapitalizedNonrefundableAdvanceResearchAndDevelopmentPayments
0
CY2023 us-gaap Advertising Expense
AdvertisingExpense
900000
CY2022 us-gaap Advertising Expense
AdvertisingExpense
600000
CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
4294000
CY2021Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
7851000
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-2963000
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-3557000
CY2023Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1331000
CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
4294000
CY2022Q3 us-gaap Inventory Net
InventoryNet
8618944
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5440686
CY2023 us-gaap Revenues
Revenues
16296958
CY2022 us-gaap Revenues
Revenues
39354352
CY2023 us-gaap Revenues
Revenues
16296958
CY2022 us-gaap Revenues
Revenues
39354352
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
105000
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
342000
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
330000
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
130000
CY2023Q3 us-gaap Accounts Receivable Gross
AccountsReceivableGross
8445370
CY2022Q3 us-gaap Accounts Receivable Gross
AccountsReceivableGross
4289892
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
3923857
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
12143
CY2023Q3 veru Allowance For Sales And Payment Term Discounts
AllowanceForSalesAndPaymentTermDiscounts
15005
CY2022Q3 veru Allowance For Sales And Payment Term Discounts
AllowanceForSalesAndPaymentTermDiscounts
12854
CY2022Q3 us-gaap Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
714000
CY2023Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
4506508
CY2022Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
3550895
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
12143
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
20643
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3911714
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-8500
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
3923857
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
12143
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
1854810
CY2022Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
1662712
CY2023Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
112799
CY2022Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
872596
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4913295
CY2022Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
6099343
CY2023Q3 us-gaap Inventory Gross
InventoryGross
6880904
CY2022Q3 us-gaap Inventory Gross
InventoryGross
8634651
CY2023Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
183787
CY2022Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
15707
CY2023Q3 us-gaap Inventory Net
InventoryNet
6697117
CY2023 us-gaap Depreciation
Depreciation
198000
CY2022 us-gaap Depreciation
Depreciation
138000
CY2023Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
500000
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
494048
CY2023Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
5952
CY2022Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
4400000
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
422619
CY2022Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
3977381
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
71000
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
71000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
6000
CY2023 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
3900000
CY2022Q3 us-gaap Goodwill
Goodwill
6900000
CY2023Q3 us-gaap Goodwill
Goodwill
6900000
CY2022 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0
CY2023 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
308000000
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
154000000
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
308000000
CY2023 veru Common Stock Voting Rights Per Share
CommonStockVotingRightsPerShare
1
CY2023Q1 veru Shelf Regsitration Statement Capacity
ShelfRegsitrationStatementCapacity
200000000
CY2023 veru Shelf Regsitration Statement Capacity
ShelfRegsitrationStatementCapacity
23000000.0
CY2023 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
4000000.0
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2500000
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17918603
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11242423
CY2023 veru Stock Option Conversion Ratio
StockOptionConversionRatio
1
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y1M6D
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
500000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
8100000
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
400000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1100000
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
3631
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
403
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
1117463
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
883928
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
42809
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
46117
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
186904
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
211840
CY2023 us-gaap Sublease Income
SubleaseIncome
179378
CY2022 us-gaap Sublease Income
SubleaseIncome
179378
CY2023 us-gaap Lease Cost
LeaseCost
1167798
CY2022 us-gaap Lease Cost
LeaseCost
966541
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
860000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
680000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y9M18D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.077
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.076
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1085368
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1034855
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
800693
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
814311
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
832997
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1217797
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5786021
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1115317
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
4670704
CY2023 veru Operating Lease Liabilities Not Yet Commenced
OperatingLeaseLiabilitiesNotYetCommenced
0
CY2023Q3 veru Product Liability Insurance Coverage Amount
ProductLiabilityInsuranceCoverageAmount
10000000.0
CY2022Q4 veru Tax Cuts And Jobs Act Of2017 Increase In Deferred Tax Assets Related To Change In Recognition Of Research And Development Expense
TaxCutsAndJobsActOf2017IncreaseInDeferredTaxAssetsRelatedToChangeInRecognitionOfResearchAndDevelopmentExpense
9800000
CY2022Q4 veru Tax Cuts And Jobs Act Of2017 Net Impact To Income Tax Benefit Related To Change In Recognition Of Research And Development Expense
TaxCutsAndJobsActOf2017NetImpactToIncomeTaxBenefitRelatedToChangeInRecognitionOfResearchAndDevelopmentExpense
0
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-92608747
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-83539623
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-19447837
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-17543321
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1505818
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.016
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1358354
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.016
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
330281
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.003
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
76913
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.001
CY2023 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
-178378
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.002
CY2022 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
5720374
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.069
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
454808
CY2023 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.005
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
409048
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.005
CY2023 veru Effective Income Tax Rate Reconciliation Effect Of Warrants Exercised
EffectiveIncomeTaxRateReconciliationEffectOfWarrantsExercised
180847
CY2023 veru Effective Income Tax Rate Reconciliation Tax Credit Common Stock Options And Warrants Exercised Percent
EffectiveIncomeTaxRateReconciliationTaxCreditCommonStockOptionsAndWarrantsExercisedPercent
-0.002
CY2022 veru Effective Income Tax Rate Reconciliation Effect Of Warrants Exercised
EffectiveIncomeTaxRateReconciliationEffectOfWarrantsExercised
-1580756
CY2022 veru Effective Income Tax Rate Reconciliation Tax Credit Common Stock Options And Warrants Exercised Percent
EffectiveIncomeTaxRateReconciliationTaxCreditCommonStockOptionsAndWarrantsExercisedPercent
0.019
CY2023 us-gaap Effective Income Tax Rate Reconciliation Gilti Amount
EffectiveIncomeTaxRateReconciliationGiltiAmount
24691
CY2023 veru Income Tax Reconciliation Effect Of Global Intangible Low Taxed Income Percent
IncomeTaxReconciliationEffectOfGlobalIntangibleLowTaxedIncomePercent
0.000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Gilti Amount
EffectiveIncomeTaxRateReconciliationGiltiAmount
24691
CY2022 veru Income Tax Reconciliation Effect Of Global Intangible Low Taxed Income Percent
IncomeTaxReconciliationEffectOfGlobalIntangibleLowTaxedIncomePercent
0.000
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
20191386
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.218
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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veru-20230930_cal.xml Edgar Link unprocessable
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