Helius Medical Technologies, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Helius Medical Technologies, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

HELIUS MEDICAL TECHNOLOGIES, INC. (HSDT) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. Helius Medical Technologies, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's business address is 642 Newtown Yardley Road, Newtown, PA 18940. The company's phone number is 215-944-6100. The filing includes data related to common stock, employee stock options, and restricted stock units.

Why It Matters

For investors and stakeholders tracking HELIUS MEDICAL TECHNOLOGIES, INC., this filing contains several important signals. This 10-Q filing provides an update on the company's financial performance and operational status for the first quarter of 2024, which is crucial for investors to assess recent developments. The detailed financial information within the report, including equity and stock option data, is essential for understanding the company's capital structure and potential dilution.

Risk Assessment

Risk Level: low — HELIUS MEDICAL TECHNOLOGIES, INC. shows low risk based on this filing. The risk is low as this is a standard quarterly filing (10-Q) providing routine financial and operational updates, without immediate indications of significant adverse events.

Analyst Insight

Review the detailed financial statements and management discussion and analysis within the 10-Q to understand the company's performance and outlook for the remainder of the fiscal year.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-13 — Filing Date (Filed as of date)
• 10-Q — Form Type (Conformed submission type)
• 3845 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• HELIUS MEDICAL TECHNOLOGIES, INC. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-13 (date) — Filed as of date
• 642 NEWTOWN YARDLEY ROAD (address) — Business address street 1
• NEWTOWN (city) — Business address city
• PA (state) — Business address state
• 18940 (zip_code) — Business address zip
• 215-944-6100 (phone_number) — Business phone

FAQ

Industry Context

Helius Medical Technologies operates in the electromedical and electrotherapeutic apparatus industry.

Regulatory Implications

The filing is a standard 10-Q report under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and cash flow.
2. Review the Management's Discussion and Analysis for insights into business strategy and outlook.
3. Examine any disclosed risk factors or legal proceedings.

Year-Over-Year Comparison

This is the initial filing data extracted for the 10-Q report ending March 31, 2024. Comparative data from previous filings is not yet available in this extraction.

Key Financial Figures

• $0.001 — hich registered Class A Common Stock, $0.001 par value per share HSDT The Nasdaq

Filing Documents

• hsdt-20240331x10q.htm (10-Q) — 888KB
• hsdt-20240331xex31d1.htm (EX-31.1) — 10KB
• hsdt-20240331xex31d2.htm (EX-31.2) — 11KB
• hsdt-20240331xex32d1.htm (EX-32.1) — 6KB
• hsdt-20240331xex32d2.htm (EX-32.2) — 6KB
• 0001558370-24-007971.txt (&nbsp;) — 4374KB
• hsdt-20240331.xsd (EX-101.SCH) — 38KB
• hsdt-20240331_cal.xml (EX-101.CAL) — 48KB
• hsdt-20240331_def.xml (EX-101.DEF) — 137KB
• hsdt-20240331_lab.xml (EX-101.LAB) — 351KB
• hsdt-20240331_pre.xml (EX-101.PRE) — 257KB
• hsdt-20240331x10q_htm.xml (XML) — 509KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 21 Part II. Other Information 22 Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3. Defaults Upon Senior Securities 22 Item 4. Mine Safety Disclosures 22 Item 5. Other Information 22 Item 6. Exhibits 24

Signatures

Signatures 25 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

ITEM 1. Condensed Consolidated Financial Statements Helius Medical Technologies, Inc. Unaudited Condensed Consolidated Balance Sheets (in thousands, except share data) March 31, 2024 December 31, 2023 ASSETS Current assets Cash and cash equivalents $ 3,638 $ 5,182 Accounts receivable, net 49 117 Other receivables 513 520 Inventory, net 384 457 Prepaid expenses and other current assets 940 1,162 Total current assets 5,524 7,438 Property and equipment, net 174 178 Intangible assets, net 17 24 Operating lease right-of-use asset, net 42 52 Total assets $ 5,757 $ 7,692 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 814 $ 531 Accrued and other current liabilities 674 1,260 Current portion of operating lease liabilities 46 45 Current portion of deferred revenue 42 43 Total current liabilities 1,576 1,879 Operating lease liabilities, net of current portion — 12 Deferred revenue, net of current portion 115 128 Derivative liability 2,080 3,323 Total liabilities 3,771 5,342 Commitments and contingencies (Note 9) Stockholders' equity Class A common stock, $ 0.001 par value; 150,000,000 shares authorized; 887,847 and 714,590 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 1 1 Additional paid-in capital 164,843 162,979 Accumulated deficit ( 162,473 ) ( 159,957 ) Accumulated other comprehensive loss ( 385 ) ( 673 ) Total stockholders' equity 1,986 2,350 Total liabilities and stockholders' equity $ 5,757 $ 7,692 The accompanying notes are an integral part of the unaudited condensed consolidated financial statements. 3 Table of Contents Helius Medical Technologies, Inc. Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss (in thousands, except share and per share data) Three Months Ended March 31, 2024 2023 Revenue Product

View Full Filing

View this 10-Q filing on SEC EDGAR