Cumberland Pharmaceuticals Inc. Files 10-Q for Period Ending March 31, 2024
Ticker: CPIX · Form: 10-Q · Filed: May 10, 2024 · CIK: 1087294
Sentiment: neutral
Topics: 10-Q, Cumberland Pharmaceuticals, Financial Report, Q1 2024, Pharmaceuticals
TL;DR
<b>Cumberland Pharmaceuticals Inc. has submitted its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial performance and product information.</b>
AI Summary
CUMBERLAND PHARMACEUTICALS INC (CPIX) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Cumberland Pharmaceuticals Inc. filed a 10-Q report for the quarter ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's fiscal year ends on December 31. Key products mentioned include Kristalose, Sancuso, Vibativ, Caldolor, Acetadote, Vaprisol, OmeclamoxPak, and RediTrex. The filing references data from previous periods, including March 31, 2023, and December 31, 2023.
Why It Matters
For investors and stakeholders tracking CUMBERLAND PHARMACEUTICALS INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of Cumberland Pharmaceuticals Inc., crucial for understanding the company's performance in the first quarter of 2024. The detailed product information and comparative data from prior periods allow for an analysis of sales trends and the company's market position within the pharmaceutical sector.
Risk Assessment
Risk Level: low — CUMBERLAND PHARMACEUTICALS INC shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate indicators of significant new risks or positive/negative events.
Analyst Insight
Monitor future 10-Q filings for revenue trends across specific products like Kristalose and Vibativ to assess growth trajectories.
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Kristalose | ||
| Sancuso | ||
| Vibativ | ||
| Caldolor |
Key Numbers
- 2024-03-31 — Reporting Period End Date (Conformed period of report)
- 2024-05-10 — Filing Date (Filed as of date)
- 2024-01-01 — Quarter Start Date (Reporting period)
- 2023-03-31 — Prior Year Quarter End Date (Comparative period)
Key Players & Entities
- CUMBERLAND PHARMACEUTICALS INC (company) — Filer name
- 2024-03-31 (date) — Conformed period of report
- 2024-05-10 (date) — Filed as of date
- 2024-01-01 (date) — Reporting period start date
- 2023-03-31 (date) — Comparative period
- 2023-12-31 (date) — Comparative period
- Kristalose (product) — Product name
- Vibativ (product) — Product name
FAQ
When did CUMBERLAND PHARMACEUTICALS INC file this 10-Q?
CUMBERLAND PHARMACEUTICALS INC filed this Quarterly Report (10-Q) with the SEC on May 10, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by CUMBERLAND PHARMACEUTICALS INC (CPIX).
Where can I read the original 10-Q filing from CUMBERLAND PHARMACEUTICALS INC?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by CUMBERLAND PHARMACEUTICALS INC.
What are the key takeaways from CUMBERLAND PHARMACEUTICALS INC's 10-Q?
CUMBERLAND PHARMACEUTICALS INC filed this 10-Q on May 10, 2024. Key takeaways: Cumberland Pharmaceuticals Inc. filed a 10-Q report for the quarter ended March 31, 2024.. The filing covers the period from January 1, 2024, to March 31, 2024.. The company's fiscal year ends on December 31..
Is CUMBERLAND PHARMACEUTICALS INC a risky investment based on this filing?
Based on this 10-Q, CUMBERLAND PHARMACEUTICALS INC presents a relatively low-risk profile. The filing is a standard 10-Q, providing routine financial disclosures without immediate indicators of significant new risks or positive/negative events.
What should investors do after reading CUMBERLAND PHARMACEUTICALS INC's 10-Q?
Monitor future 10-Q filings for revenue trends across specific products like Kristalose and Vibativ to assess growth trajectories. The overall sentiment from this filing is neutral.
Key Dates
- 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
- 2024-05-10: Filing Date — Date the 10-Q was officially filed with the SEC.
Filing Stats: 4,415 words · 18 min read · ~15 pages · Grade level 15 · Accepted 2024-05-10 16:37:48
Filing Documents
- cpix-20240331.htm (10-Q) — 638KB
- a2024q1-exhibit106.htm (EX-10.6) — 41KB
- a2024q1-exhibit311.htm (EX-31.1) — 12KB
- a2024q1-exhibit312.htm (EX-31.2) — 12KB
- a2024q1-exhibit321.htm (EX-32.1) — 7KB
- 0001628280-24-022658.txt ( ) — 4093KB
- cpix-20240331.xsd (EX-101.SCH) — 33KB
- cpix-20240331_cal.xml (EX-101.CAL) — 48KB
- cpix-20240331_def.xml (EX-101.DEF) — 123KB
- cpix-20240331_lab.xml (EX-101.LAB) — 437KB
- cpix-20240331_pre.xml (EX-101.PRE) — 294KB
- cpix-20240331_htm.xml (XML) — 388KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION 1
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Cash Flows 3 Condensed Consolidated Statements of Equity 4 Notes to the Condensed Consolidated Financial Statements 5
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 16
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 26
Controls and Procedures
Item 4. Controls and Procedures 26
– OTHER INFORMATION
PART II – OTHER INFORMATION 27
Legal Proceedings
Item 1. Legal Proceedings 27
Risk Factors
Item 1A. Risk Factors 27
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27
Other Information
Item 5. Other Information 27
Exhibits
Item 6. Exhibits 28
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) CUMBERLAND PHARMACEUTICALS INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 18,548,485 $ 18,321,624 Accounts receivable, net 10,647,267 9,758,176 Inventories, net 4,327,526 4,609,362 Prepaid and other current assets 2,682,673 3,025,248 Total current assets 36,205,951 35,714,410 Non-current inventories 12,915,896 12,804,529 Property and equipment, net 369,499 367,903 Intangible assets, net 21,522,441 22,607,918 Goodwill 914,000 914,000 Operating lease right-of-use assets 6,521,088 6,674,394 Other assets 3,060,643 2,692,921 Total assets $ 81,509,518 $ 81,776,075 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 13,075,764 $ 14,037,629 Operating lease current liabilities 362,244 348,092 Other current liabilities 12,987,372 13,596,528 Total current liabilities 26,425,380 27,982,249 Revolving line of credit 16,084,144 12,784,144 Operating lease non-current liabilities 5,200,148 5,296,247 Other long-term liabilities 6,610,294 6,453,566 Total liabilities 54,319,966 52,516,206 Equity: Shareholders' equity: Common stock— no par value; 100,000,000 shares authorized; 14,159,954 and 14,121,833 shares issued and outstanding as of March 31, 2024 and December 31, 2023 , respectively 46,923,757 47,091,602 Accumulated deficit ( 19,434,424 ) ( 17,488,161 ) Total shareholders' equity 27,489,333 29,603,441 Noncontrolling interests ( 299,781 ) ( 343,572 ) Total equity 27,189,552 29,259,869 Total liabilities and equity $ 81,509,518 $ 81,776,075 See accompanying Notes to Condensed Consolidated Financial Statements. 1 CUMBERLAND PHARMACEUTICALS INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations (Unaudited) Three months ended March 31, 2024 2023 Net revenues $ 8,497,701 $ 9,224,638 Costs and expenses: Cost of products sold 1,575,542 1,250,264 Selling and marketi