Veru Inc. (VERU) Financial Statements (2024 and earlier)

Company Profile

Business Address 2916 N. MIAMI AVENUE
MIAMI, FL 33127
State of Incorp. WI
Fiscal Year End September 30
Industry (SIC) 2834 - Pharmaceutical Preparations (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
12/31/2022
MRQ
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments      3,760
Cash and cash equivalents      3,760
Restricted cash and investments      135
Receivables3,8643,55113,7945,2275,0213,973
Inventory, net of allowances, customer advances and progress billings8,7338,6195,5746,7043,6472,302
Inventory8,7338,6195,5746,7043,6472,302
Other undisclosed current assets60,41292,600132,38515,0838,1381,013
Total current assets:73,009104,769151,75327,01516,80711,183
Noncurrent Assets
Operating lease, right-of-use asset4,6014,7879701,352 
Property, plant and equipment1,4261,186593313352405
Intangible assets, net (including goodwill)10,83810,85610,92812,63127,04727,357
Goodwill6,8796,8796,8796,8796,8796,879
Intangible assets, net (excluding goodwill)3,9603,9774,0495,75220,16820,478
Deferred income tax assets13,05212,96613,0259,467 
Other noncurrent assets8561,562879766989965
Deferred tax assets, net8,544
Other undisclosed noncurrent assets     8,434 
Total noncurrent assets:30,77431,35726,39324,52936,82237,270
TOTAL ASSETS:103,782136,126178,14751,54453,62948,453
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities10,56722,0033,4102,8133,1253,810
Employee-related liabilities   584
Accounts payable10,56722,0033,4102,8133,1253,226
Debt   96,4505,3866,693
Deferred compensation liability7,1365,9874,9862,2741,597 
Other liabilities7,0272,2501,6161,1771,4371,866
Other undisclosed current liabilities15,35011,1985,7472,0132,4751,184
Total current liabilities:40,08041,43815,76714,72714,02013,553
Noncurrent Liabilities
Long-term debt and lease obligation  4,0946109982,8861,754
Long-term debt, excluding current maturities     2,8861,754
Finance lease, liability    8 
Liabilities, other than long-term debt4,0521007898247963
Deferred rent credit      88
Deferred tax liabilities, net845
Deferred income tax liabilities 63816375 
Other liabilities2619152324730
Operating lease, liability3,9634,094610990 
Other undisclosed noncurrent liabilities10,5519,6569,3975,6094,1422,702
Total noncurrent liabilities:14,60313,85010,0856,7057,2765,418
Total liabilities:54,68455,28725,85321,43221,29618,971
Equity
Equity, attributable to parent49,09980,839152,29430,11132,33329,481
Common stock828827822720672575
Treasury stock, value(7,807)(7,807)(7,807)(7,807)(7,807)(7,807)
Additional paid in capital259,075253,974241,659126,972110,26895,497
Accumulated other comprehensive loss(582)(582)(582)(582)(582)(582)
Accumulated deficit(202,416)(165,574)(81,798)(89,193)(70,219)(58,202)
Total equity:49,09980,839152,29430,11132,33329,481
TOTAL LIABILITIES AND EQUITY:103,782136,126178,14751,54453,62948,453

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

9/30/2023
12/31/2022
TTM
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
Revenues27,72739,35461,26042,59231,80315,864
Cost of revenue
(Cost of Goods and Services Sold)
(8,276)(8,763)(13,332)(11,805)(10,147)(7,082)
Gross profit:19,45130,59147,92730,78721,6578,783
Operating expenses(133,301)(113,815)(53,365)(45,534)(28,093)(29,655)
Other undisclosed operating income  18,410   
Operating income (loss):(113,849)(83,224)12,973(14,747)(6,436)(20,872)
Nonoperating income (expense)(335)(316)(8,707)(5,305)(5,885)(2,200)
Investment income, nonoperating3,0963,557(3,669)(557)(1,199)893
Other nonoperating income (expense)652496(152)(127)93(15)
Interest and debt expense(4,083)(4,369)(4,886)(4,621)(4,706)(2,951)
Loss from continuing operations before equity method investments, income taxes:(118,268)(87,908)(621)(24,673)(17,027)(26,023)
Other undisclosed income from continuing operations before income taxes4,0834,3694,8864,6214,7062,951
Income (loss) from continuing operations before income taxes:(114,185)(83,540)4,265(20,052)(12,321)(23,072)
Income tax expense (benefit)(53)(236)3,1291,078304(866)
Income (loss) from continuing operations:(114,238)(83,776)7,394(18,974)(12,017)(23,938)
Income (loss) before gain (loss) on sale of properties:(77,396)(83,776)7,394(18,974)(12,017)(23,938)
Net income (loss) available to common stockholders, diluted:(114,238)(83,776)7,394(18,974)(12,017)(23,938)

Comprehensive Income ($ in thousands)

9/30/2023
12/31/2022
TTM
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
Net income (loss):(114,238)(83,776)7,394(18,974)(12,017)(23,938)
Comprehensive income (loss), net of tax, attributable to parent:(114,238)(83,776)7,394(18,974)(12,017)(23,938)

Statements Sources

The financial statements are based on the Company's filings with 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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