Escalon Medical Corp. Q3 2024 Revenue Reported

TL;DR

**Escalon Medical Corp. Q3 revenue hits $7.4M. Filing also notes Nov 13 event.**

AI Summary

Escalon Medical Corp. reported its quarterly results for the period ending September 30, 2024. The company's revenue for the three months ended September 30, 2024, was $7,415,329. This filing also indicates a subsequent event dated November 13, 2024.

Why It Matters

This filing provides investors with the latest financial performance data for Escalon Medical Corp., crucial for understanding the company's current operational health and market position.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative events disclosed.

Key Numbers

• $7.4M — Revenue (Revenue for the three months ended September 30, 2024.)
• 2024-09-30 — Reporting Period End Date (The end date for the financial data presented in this 10-Q.)
• 2024-11-13 — Subsequent Event Date (Indicates a significant event that occurred after the reporting period.)

Key Players & Entities

• Escalon Medical Corp. (company) — Filer of the 10-Q report.
• 2024-09-30 (date) — End of the reporting period for the 10-Q.
• $7,415,329 (dollar_amount) — Revenue for the three months ended September 30, 2024.
• 2024-11-13 (date) — Date of a subsequent event mentioned in the filing.

FAQ

Key Financial Figures

• $0.001 — ate: 7,415,329 shares of common stock, $0.001 par value , outstanding as of November
• $986,973 — d and outstanding (liquidation value of $986,973 and $974,003) 645,000 645,000 Common s
• $974,003 — ding (liquidation value of $986,973 and $974,003) 645,000 645,000 Common stock, $0.001
• $112,389 — , the related party interest accrual of $112,389 related to the debt prior to the exchan

Filing Documents

• esmc-20240930.htm (10-Q) — 586KB
• esmc_2024930-10qex311.htm (EX-31.1) — 9KB
• esmc_2024930-10qex312.htm (EX-31.2) — 9KB
• esmc_2024930-10qex321.htm (EX-32.1) — 4KB
• esmc_2024930-10qex322.htm (EX-32.2) — 4KB
• 0000862668-24-000030.txt ( ) — 3671KB
• esmc-20240930.xsd (EX-101.SCH) — 24KB
• esmc-20240930_cal.xml (EX-101.CAL) — 51KB
• esmc-20240930_def.xml (EX-101.DEF) — 142KB
• esmc-20240930_lab.xml (EX-101.LAB) — 298KB
• esmc-20240930_pre.xml (EX-101.PRE) — 239KB
• esmc-20240930_htm.xml (XML) — 402KB

Financial Information

PART I Financial Information Item I. Unaudited Condensed Consolidated Financial Statements 2 Condensed Consolidated Balance Sheets as of September 30, 2024 (unaudited) and June 30, 2024 2 Condensed Consolidated Statements of Operations for the three-month periods ended September 30 , 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements of Shareholders' Equity for the three-month periods ended September 30 , 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the three -month periods ended Septe mber 30 , 2024 and 2023 (unaudited) 5 Notes to the Condensed Consolidated Financial Statements (Unaudited) 6

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 14

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 19

Controls and Procedures

Item 4. Controls and Procedures 19

Other Information

PART II Other Information

Exhibits

Item 6. Exhibits 20 1

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item I. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ESCALON MEDICAL CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS September 30, 2024 June 30, 2024 (Unaudited) ASSETS Current assets: Cash $ 229,696 $ 209,033 Restricted cash 256,454 256,422 Accounts receivable 2,102,495 2,295,263 Less: allowance for credit losses ( 171,104 ) ( 171,104 ) Accounts receivable, net 1,931,391 2,124,159 Inventories 1,805,668 1,613,118 Other current assets 224,625 194,096 Total current assets 4,447,834 4,396,828 Property and equipment, net 43,163 48,878 Right-of-use assets 120,801 199,989 License and patent, net 44,530 49,442 Other long term assets 62,788 62,788 Total assets $ 4,719,116 $ 4,757,925 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current portion of note payable $ 38,329 $ 34,177 Current portion of EIDL loan 3,232 3,172 Accounts payable 1,395,665 1,357,222 Accrued expenses 589,184 588,317 Related party accrued interest 112,389 112,389 Current portion of operating lease liabilities 124,108 207,966 Deferred revenue 329,243 280,004 Other short-term liabilities 89,303 85,692 Total current liabilities 2,681,453 2,668,939 Note payable, net of current portion 112,858 128,825 EIDL loan, net of current portion 141,629 142,508 Operating lease liabilities, net of current portion 5,811 8,071 Total long-term liabilities 260,298 279,404 Total liabilities 2,941,751 2,948,343 Contingencies (Note 10) Shareholders' equity: Series A convertible preferred stock, $0.001 par value; 2,000,000 shares authorized; 2,000,000 shares issued and outstanding (liquidation value of $986,973 and $974,003) 645,000 645,000 Common stock, $0.001 par value; 35,000,000 shares authorized; 7,415,329 shares issued and outstanding 7,415 7,415 Additional paid-in capital 69,702,043 69,702,043 Accumulated deficit ( 68,577,093 ) ( 68,544,876 ) Total shareholders' equity 1,777,365 1,809,582 Total liabilities an

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View this 10-Q filing on SEC EDGAR