ProPhase Labs Files Q3 2024 10-Q

TL;DR

ProPhase Labs dropped its Q3 10-Q. Check financials for latest performance.

AI Summary

ProPhase Labs, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the third quarter and the first nine months of 2024. Specific financial figures and operational details are contained within the filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational updates for ProPhase Labs, Inc., crucial for evaluating the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — As a pharmaceutical preparations company, ProPhase Labs is subject to regulatory, market, and development risks inherent in the healthcare industry.

Key Numbers

• 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 20241113 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• ProPhase Labs, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241113 (date) — Filing date
• 0000868278 (company) — Central Index Key for ProPhase Labs, Inc.

FAQ

Key Financial Figures

• $0.0005 — ich registered Common Stock, par value $0.0005 PRPH Nasdaq Capital Market Indicate b

Filing Documents

• prph-20240930.htm (10-Q) — 1060KB
• prph-20240930xexx311.htm (EX-31.1) — 11KB
• prph-20240930xexx312.htm (EX-31.2) — 11KB
• prph-20240930xexx321.htm (EX-32.1) — 5KB
• prph-20240930xexx322.htm (EX-32.2) — 5KB
• 0000868278-24-000014.txt ( ) — 6618KB
• prph-20240930.xsd (EX-101.SCH) — 51KB
• prph-20240930_cal.xml (EX-101.CAL) — 93KB
• prph-20240930_def.xml (EX-101.DEF) — 255KB
• prph-20240930_lab.xml (EX-101.LAB) — 640KB
• prph-20240930_pre.xml (EX-101.PRE) — 425KB
• prph-20240930_htm.xml (XML) — 767KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 10 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 39

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 41 Item 1A.

Risk Factors

Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 3. Defaults Upon Senior Securities 41 Item 4. Mine Safety Disclosures 41 Item 5. Other Information 41 Item 6. Exhibits 42

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. ProPhase Labs, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (in thousands, except share and per share amounts) September 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 501 $ 1,609 Restricted cash 593 540 Marketable securities, available for sale 2 3,127 Accounts receivable, net 31,638 36,313 Inventory, net 3,966 3,841 Prepaid expenses and other current assets 5,535 2,155 Total current assets 42,235 47,585 Property, plant and equipment, net 13,851 12,898 Prepaid expenses, net of current portion 431 832 Operating lease right-of-use asset, net 4,234 4,572 Intangible assets, net 10,396 12,333 Goodwill 5,231 5,231 Deferred tax asset 14,576 7,313 Other assets 854 1,163 TOTAL ASSETS $ 91,808 $ 91,927 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 15,459 $ 9,383 Accrued diagnostic services 38 314 Accrued advertising and other allowances 122 24 Finance lease liabilities 3,897 1,840 Operating lease liabilities 971 953 Short-term loan payable, net of discount of $ 418 2,670 — Deferred revenue 1,647 2,382 Income tax payable 2,274 3,278 Other current liabilities 1,620 2,683 Total current liabilities 28,698 20,857 Non-current liabilities: Secured long-term debt, net of discount of $ 324 and $ 341 2,925 2,924 Unsecured promissory notes, net of discount of $ 142 and $ 266 9,858 7,334 Unsecured long-term debt, net of discount of $ 476 1,725 — Due to sellers (see Note 3) 2,000 2,000 3 Deferred revenue, net of current portion 928 1,100 Operating lease liabilities, net of current portion 3,663 4,237 Finance lease liabilities, net of current portion 3,885 4,092 Total non-current liabilities 24,984 21,687 Total liabilities 53,682 42,544 COMMITMENTS AND CONTINGENCIES Stockholders' equity Preferred stock authorized 1,000,000 , $ 0.0005 par value, no shares issued and outstanding — — Common stock authorized 50,000

View Full Filing

View this 10-Q filing on SEC EDGAR