Allurion Technologies, Inc. Files 2023 Annual Report (10-K)

TL;DR

<b>Allurion Technologies, Inc. filed its 2023 10-K report, detailing financial activities and corporate changes.</b>

AI Summary

ALLURION TECHNOLOGIES, INC. (ALURW) filed a Annual Report (10-K) with the SEC on March 26, 2024. Filed 10-K for the fiscal year ended December 31, 2023. Company name changed from ALLURION TECHNOLOGIES HOLDINGS, INC. on February 7, 2023. Reports on business address at 11 Huron Dr Ste 200, Natick, MA 01760. Includes financial data related to warrants, convertible notes, and financing agreements. Details on selling and marketing expenses for the period January 1, 2023 to December 31, 2023.

Why It Matters

For investors and stakeholders tracking ALLURION TECHNOLOGIES, INC., this filing contains several important signals. The filing provides a comprehensive overview of the company's financial performance and position as of year-end 2023. Information on warrants, convertible notes, and financing agreements indicates ongoing financial structuring and potential future obligations.

Risk Assessment

Risk Level: medium — ALLURION TECHNOLOGIES, INC. shows moderate risk based on this filing. The company's financial disclosures, particularly regarding warrants and financing agreements, suggest a complex financial structure that warrants careful review for potential risks.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand the implications of the company's financing arrangements and warrant liabilities.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of report)
• 2024-03-26 — Filing Date (Date of filing)
• 001-41767 — SEC File Number (Company's SEC file number)
• 3841 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• ALLURION TECHNOLOGIES, INC. (company) — Filer name
• ALLURION TECHNOLOGIES HOLDINGS, INC. (company) — Former company name
• FortressCreditAgreementMember (company) — Related to financing agreement
• FortressTermLoanMember (company) — Related to financing agreement
• ComputeHealth (company) — Mentioned in business context

FAQ

Industry Context

Allurion Technologies operates in the medical instruments and apparatus industry, specifically focusing on surgical and medical devices.

Regulatory Implications

The filing is a 10-K annual report, a standard requirement under the Securities Exchange Act of 1934 for publicly traded companies.

What Investors Should Do

1. Analyze the financial statements for detailed revenue, expenses, and balance sheet information.
2. Review the section on warrants and convertible notes to understand potential dilution and financial obligations.
3. Examine the risk factors section for any new or updated risks pertinent to the company's operations and financial health.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-26: Filing Date — Date the 10-K was officially filed with the SEC.
• 2023-02-07: Company Name Change — Date Allurion Technologies Holdings, Inc. became Allurion Technologies, Inc.

Year-Over-Year Comparison

This is the initial 10-K filing for Allurion Technologies, Inc. after its name change, providing a baseline for future year-over-year comparisons.

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share ALUR The New York Stock E
• $8.10 — ase 1.420455 shares of Common Stock for $8.10 per share ALUR WS The New York Stoc
• $3.74 — 29, 2023, based on the closing price of $3.74 per share of the Registrant's common st
• $64.2 million — es, distributors. In 2022, we generated $64.2 million in revenue, representing 68% year-over-
• $37.7 million — profit margin of 79% and a net loss of $37.7 million. In 2023, we generated $53.5 million in
• $53.5 million — of $37.7 million. In 2023, we generated $53.5 million in revenue, representing a 17% YOY decl
• $80.6 million — profit margin of 78% and a net loss of $80.6 million. Our Market Opportunity According t
• $2 — pact of obesity is estimated to be over $2 trillion. We expect the rates of obes

Filing Documents

• alur-20231231.htm (10-K) — 3729KB
• alur-ex10_36.htm (EX-10.36) — 175KB
• alur-ex10_37.htm (EX-10.37) — 190KB
• alur-ex10_39.htm (EX-10.39) — 128KB
• alur-ex19_1.htm (EX-19.1) — 136KB
• alur-ex21_1.htm (EX-21.1) — 10KB
• alur-ex23_1.htm (EX-23.1) — 2KB
• alur-ex31_1.htm (EX-31.1) — 15KB
• alur-ex31_2.htm (EX-31.2) — 15KB
• alur-ex32_1.htm (EX-32.1) — 9KB
• alur-ex32_2.htm (EX-32.2) — 8KB
• alur-ex97_1.htm (EX-97.1) — 39KB
• img20362723_0.jpg (GRAPHIC) — 55KB
• img20362723_1.jpg (GRAPHIC) — 50KB
• img20362723_2.jpg (GRAPHIC) — 53KB
• img20362723_3.jpg (GRAPHIC) — 63KB
• img20362723_4.jpg (GRAPHIC) — 115KB
• img20362723_5.jpg (GRAPHIC) — 120KB
• img20362723_6.jpg (GRAPHIC) — 114KB
• 0000950170-24-036478.txt (&nbsp;) — 19285KB
• alur-20231231.xsd (EX-101.SCH) — 2526KB
• alur-20231231_htm.xml (XML) — 3329KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 28 Item 1B. Unresolved Staff Comments 71 Item 1C. Cybersecurity 71 Item 2.

Properties

Properties 71 Item 3.

Legal Proceedings

Legal Proceedings 72 Item 4. Mine Safety Disclosures 72 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 73 Item 6. [Reserved] 73 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 74 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 89 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 91 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 91 Item 9A.

Controls and Procedures

Controls and Procedures 91 Item 9B. Other Information 92 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 92 PART III Item 10. Directors, Executive Officers and Corporate Governance 93 Item 11.

Executive Compensation

Executive Compensation 93 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 93 Item 13. Certain Relationships and Related Transactions, and Director Independence 93 Item 14. Principal Accountant Fees and Services 93 PART IV Item 15. Exhibits and Financial Statement Schedules 94 Item 16. Form 10-K Summary 97 i Cautionary Statement Regarding Forward-Looking Statements This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and these statements involve substantial risks and uncertainties. All statements other than statements of historical fact contained in this Annual Report on Form 10-K are forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the plans, strategies and prospects, both business and financial, of Allurion Technologies, Inc. ("Allurion"). These statements are based on the beliefs and assumptions of the management of Allurion. Although Allurion believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, Allurion cannot assure you that it will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words "believes", "estimates", "expects", "projects", "target", "goal", "forecasts", "may", "will", "potential", "should", "would", "could", "future", "seeks", "plans", "predicts", "propose", "scheduled", "anticipates", "intends", or similar expressions. Forward-look

View Full Filing

View this 10-K filing on SEC EDGAR