Sonoma Pharmaceuticals Files 2024 10-K

TL;DR

Sonoma Pharma dropped its 2024 10-K, check financials for FY ending 3/31/24.

AI Summary

Sonoma Pharmaceuticals, Inc. filed its 10-K for the fiscal year ending March 31, 2024. The company, formerly Oculus Innovative Sciences, Inc., is engaged in the pharmaceutical preparations industry. The filing covers the period from April 1, 2023, to March 31, 2024, and includes financial data for the fiscal years 2024, 2023, and 2022.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Sonoma Pharmaceuticals' financial performance and business operations for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: medium — 10-K filings are standard for public companies, but the specific financial health and market position of Sonoma Pharmaceuticals would determine the actual risk.

Key Numbers

• 2024 — Fiscal Year End (The most recent fiscal year covered by the 10-K filing.)
• 2023 — Fiscal Year End (Previous fiscal year for comparison.)
• 2022 — Fiscal Year End (Fiscal year prior to that for trend analysis.)

Key Players & Entities

• Sonoma Pharmaceuticals, Inc. (company) — Filer of the 10-K
• Oculus Innovative Sciences, Inc. (company) — Former name of Sonoma Pharmaceuticals
• 2024-03-31 (date) — Fiscal year end
• 2023-04-01 (date) — Start of reporting period
• 2024-06-17 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — ction 12(b) of the Act: Common Stock, $0.0001 par value SNOA The Nasdaq Stock Mar
• $0.77 — ember 29, 2023, at the closing price of $0.77 per share, as reported on the Nasdaq Ca
• $1,871,000 — rch and development expense amounted to $1,871,000 and $207,000, respectively. A small per
• $207,000 — ment expense amounted to $1,871,000 and $207,000, respectively. A small percentage of th

Filing Documents

• sonoma_i10k-033124.htm (10-K) — 1024KB
• sonoma_ex0310.htm (EX-3.10) — 3KB
• sonoma_ex2301.htm (EX-23.1) — 2KB
• sonoma_ex3101.htm (EX-31.1) — 8KB
• sonoma_ex3102.htm (EX-31.2) — 8KB
• sonoma_ex3201.htm (EX-32.1) — 5KB
• sonoma_ex9700.htm (EX-97.) — 24KB
• image_001.jpg (GRAPHIC) — 7KB
• image_002.jpg (GRAPHIC) — 4KB
• image_003.jpg (GRAPHIC) — 4KB
• image_004.jpg (GRAPHIC) — 4KB
• image_005.jpg (GRAPHIC) — 3KB
• image_006.jpg (GRAPHIC) — 4KB
• image_007.jpg (GRAPHIC) — 11KB
• image_008.jpg (GRAPHIC) — 3KB
• image_009.jpg (GRAPHIC) — 4KB
• image_010.jpg (GRAPHIC) — 7KB
• image_011.jpg (GRAPHIC) — 18KB
• image_012.jpg (GRAPHIC) — 9KB
• 0001683168-24-004275.txt ( ) — 5874KB
• snoa-20240331.xsd (EX-101.SCH) — 43KB
• snoa-20240331_cal.xml (EX-101.CAL) — 71KB
• snoa-20240331_def.xml (EX-101.DEF) — 153KB
• snoa-20240331_lab.xml (EX-101.LAB) — 389KB
• snoa-20240331_pre.xml (EX-101.PRE) — 324KB
• sonoma_i10k-033124_htm.xml (XML) — 724KB

Business

Business 1 ITEM 1A.

Risk Factors

Risk Factors 21 ITEM 1B. Unresolved Staff Comments 36 ITEM 1C. Cybersecurity 36 ITEM 2.

Properties

Properties 36 ITEM 3.

Legal Proceedings

Legal Proceedings 36 ITEM 4. Mine Safety Disclosures 36 PART II ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 37 ITEM 6.

Selected Financial Data

Selected Financial Data 37 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 38 ITEM 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 ITEM 8. Consolidated Financial Statements and Supplementary Data 43 ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 44 ITEM 9A.

Controls and Procedures

Controls and Procedures 44 ITEM 9B. Other Information 45 PART III ITEM 10. Directors, Executive Officers and Corporate Governance 46 ITEM 11.

Executive Compensation

Executive Compensation 47 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 47 ITEM 13. Certain Relationships and Related Transactions, and Director Independence 47 ITEM 14. Principal Accounting Fees and Services 47 PART IV ITEM 15. Exhibits, Financial Statement Schedules 48 ITEM 16. Form 10-K Summary 50

Signatures

Signatures 51 i PART I This report includes "forward-looking "expect," "intend," "plan," "aim," "seek," "should," "likely," and similar expressions as they relate to us or our management are intended to identify these forward-looking statements. All statements by Sonoma regarding expected financial position, revenues, cash flows and other operating results, business strategy, legal proceedings and similar matters are forward-looking statements. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct. Our results could be materially different from our expectations because of various risks, including the risks discussed in this report under "Part I — Item 1A — Risk Factors." Any forward-looking statement speaks only as of the date as of which such statement is made, and, except as required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances, including unanticipated events, after the date as of which such statement was made.

Business

ITEM 1. Business Corporate Information We originally incorporated as Micromed Laboratories, Inc. in 1999 under the laws of the State of California. We changed our name to Oculus Innovative Sciences, Inc. in 2001. In December 2006 we reincorporated under the laws of the State of Delaware, and in December 2016 we changed our name to Sonoma Pharmaceuticals, Inc. In 2022, we relocated our principal executive offices from 645 Molly Lane, Suite 150, Woodstock, Georgia, 30189 to 5445 Conestoga Court, Suite 150, Boulder, Colorado 80301. We have two active wholly-owned subsidiaries: Oculus Technologies of Mexico, S.A. de C.V., and Sonoma Pharmaceuticals Netherlands, B.V. Our fiscal year end is March 31. Our corporate telephone number is (800) 759-9305. Our websites are www.sonomapharma.com and www.sonomapharma.eu. The websites and any information contained therein or connected thereto is not intended to be incorporated into this report. Overview We are a global healthcare leader for developing and producing stabilized hypochlorous acid, or HOCl, products for a wide range of applications, including wound care, eye care, oral care, dermatological conditions, podiatry, animal health care and non-toxic disinfectants. Our products are clinically proven to reduce itch, pain, scarring, and irritation safely and without damaging healthy tissue. In-vitro and clinical studies of HOCl show it to safely manage skin abrasions, lacerations, minor irritations, cuts, and intact skin. We sell our products either directly or via partners in 55 countries worldwide. Business Update Over the past year, we have continued our focus on growing our revenues while maintaining costs. Our human care revenues have grown as a result of adding new customers and distributors, and through organic growth from existing customers and distributors. We have also focused on introducing new products into multiple markets around the world and increasing our regulatory reach by seeking new approvals and c

View Full Filing

View this 10-K filing on SEC EDGAR