PolarityTE, Inc. (PTE) financial statements (2022 and earlier)

Company profile

Business Address 1960 S. 4250 WEST
SALT LAKE CITY, UT 84104
State of Incorp. DE
Fiscal Year End December 31
SIC 2836 - Biological Products, Except Diagnostic Substances (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
10/31/2018
10/31/2017
10/31/2016
10/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:19,52525,52225,83570,96117,6676,52317,053
Cash and cash equivalents19,37525,52210,21870,96117,6676,52317,053
Short-term investments150 19,022    
Other undisclosed cash, cash equivalents, and short-term investments  (3,405)    
Receivables9784,0191,8311,10060113283
Inventory, net of allowances, customer advances and progress billings 883252238   
Inventory 883252238   
Prepaid expense445   1952940
Deferred costs694      
Advances on inventory purchases     1861
Assets held-for-sale, not part of disposal group441      
Other current assets    1  
Other undisclosed current assets3067924,5691,0034150179
Total current assets:22,38931,21632,48773,30217,9646,73317,616
Noncurrent Assets
Operating lease, right-of-use asset1,1462,4524,590
Property, plant and equipment6,92310,55014,91112,9272,1731845
Long-term investments and receivables    15  
Accounts and financing receivable, after allowance for credit loss    15  
Intangible assets, net (including goodwill) 8201,0091,235   
Goodwill 278278278   
Intangible assets, net (excluding goodwill) 542731957   
Other noncurrent assets720472602378   
Total noncurrent assets:8,78914,29421,11214,5402,1881845
TOTAL ASSETS:31,17845,51053,59987,84220,1526,75117,661
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:3,1154,1487,0954,3631,9391,2841,686
Accounts payable1731,1931,6892,00725130479
Accrued liabilities1,4468372,3341,423888691697
Employee-related liabilities1113301,053933574463510
Other undisclosed accounts payable and accrued liabilities1,3851,7882,019 452  
Deferred revenue 16898
Debt 2,059528519   
Other liabilities1,5202,1062,338286   
Other undisclosed current liabilities74  15013,50270318
Total current liabilities:4,7098,48110,0595,31815,4411,3542,004
Noncurrent Liabilities
Long-term debt and lease obligation7194,4274,624736   
Long-term debt, excluding current maturities3382,2401,630736   
Finance lease, liability338711 
Operating lease, liability431,4762,994
Other undisclosed noncurrent liabilities6,4633,788 126   
Total noncurrent liabilities:7,2259,6914,624862   
Total liabilities:11,93418,17214,6836,18015,4411,3542,004
Temporary equity, carrying amount    4,541  
Stockholders' equity
Stockholders' equity attributable to parent19,24427,33838,91681,6621705,39715,657
Preferred stock    109,99510,15310,694
Common stock825527217311
Additional paid in capital527,560505,494474,174406,087149,173123,417128,488
Accumulated other comprehensive income  72    
Accumulated deficit(508,398)(478,211)(435,357)(324,446)(259,005)(128,176)(123,536)
Total stockholders' equity:19,24427,33838,91681,6621705,39715,657
TOTAL LIABILITIES AND EQUITY:31,17845,51053,59987,84220,1526,75117,661

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
10/31/2018
10/31/2017
10/31/2016
10/31/2015
Revenues9,40410,1265,6521,563 1,5426,693
Loss on disposition of assets for financial service operations(5,197)   
Cost of revenue
(Cost of Goods and Services Sold)
 (4,424)(2,479)(1,002) (286)(3,423)
Other undisclosed gross profit(4,316)      
Gross profit:5,0885,7023,173561 1,2563,270
Operating expenses(38,774)(51,642)(96,566)(69,993)(130,612)(6,162)(7,196)
Operating loss:(33,686)(45,940)(93,393)(69,432)(130,612)(4,906)(3,926)
Nonoperating income5,2113,268749   198
Investment income, nonoperating4,9952,914    198
Other nonoperating income216354749    
Interest and debt expense3,612(151)(152)  18(45)
Loss from continuing operations before equity method investments, income taxes:(24,863)(42,823)(92,796)(69,432)(130,612)(4,888)(3,773)
Other undisclosed income (loss) from continuing operations before income taxes  3033,689 248(33)
Loss from continuing operations before income taxes:(24,863)(42,823)(92,493)(65,743)(130,612)(4,640)(3,806)
Income tax expense (benefit)  27,652(302) 3(3)
Loss from continuing operations:(24,863)(42,823)(64,841)(66,045)(130,612)(4,637)(3,809)
Loss from discontinued operations    (449)  
Net loss:(24,863)(42,823)(64,841)(66,045)(131,061)(4,637)(3,809)
Other undisclosed net income (loss) attributable to parent(5,324)(31)(27,652)604232(3) 
Net loss attributable to parent:(30,187)(42,854)(92,493)(65,441)(130,829)(4,640)(3,809)
Preferred stock dividends and other adjustments     (6,002)(2,252)
Other undisclosed net loss available to common stockholders, basic   (8,720)(493)  
Net loss available to common stockholders, diluted:(30,187)(42,854)(92,493)(74,161)(131,322)(10,642)(6,061)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
10/31/2018
10/31/2017
10/31/2016
10/31/2015
Net loss:(24,863)(42,823)(64,841)(66,045)(131,061)(4,637)(3,809)
Other comprehensive income (loss) 72(36)    
Comprehensive loss:(24,863)(42,751)(64,877)(66,045)(131,061)(4,637)(3,809)
Other undisclosed comprehensive loss, net of tax, attributable to parent(5,324)(175)(27,580)    
Comprehensive loss, net of tax, attributable to parent:(30,187)(42,926)(92,457)(66,045)(131,061)(4,637)(3,809)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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