Sonoma Pharmaceuticals, Inc. Files 10-Q for Period Ending December 31, 2023

AI Summary

Sonoma Pharmaceuticals, Inc. (SNOA) filed a Quarterly Report (10-Q) with the SEC on February 8, 2024. Sonoma Pharmaceuticals, Inc. filed a 10-Q for the period ending December 31, 2023. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on March 31st. Sonoma Pharmaceuticals, Inc. was formerly known as Oculus Innovative Sciences, Inc. The company is in the Pharmaceutical Preparations industry (SIC 2834).

Why It Matters

For investors and stakeholders tracking Sonoma Pharmaceuticals, Inc., this filing contains several important signals. This 10-Q filing provides investors with crucial, up-to-date financial information for Sonoma Pharmaceuticals, Inc., enabling informed investment decisions. Understanding the company's performance in the latest quarter is essential for assessing its current financial health and future prospects in the pharmaceutical sector.

Risk Assessment

Risk Level: — Sonoma Pharmaceuticals, Inc. shows moderate risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain significant new risks or material adverse events.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand the company's performance and outlook.

Key Numbers

• 2023-12-31 — Period End Date (Conformed period of report)
• 2024-02-08 — Filing Date (Filed as of date)
• 0331 — Fiscal Year End (Fiscal year end)

Key Players & Entities

• Sonoma Pharmaceuticals, Inc. (company) — Filer name
• 2023-12-31 (date) — Period of report
• 2024-02-08 (date) — Filed as of date
• 0001683168-24-000781 (filing_id) — Accession number
• Oculus Innovative Sciences, Inc. (company) — Former company name
• 2834 (industry_code) — Standard Industrial Classification

FAQ

Industry Context

Sonoma Pharmaceuticals operates within the Pharmaceutical Preparations industry, focusing on developing and commercializing products.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including quarterly reporting requirements under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and profitability.
2. Review the management's discussion and analysis (MD&A) for insights into business performance and strategy.
3. Check for any new disclosures regarding risks, legal proceedings, or significant events.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending December 31, 2023. Comparative data from previous filings will be available in subsequent reports.

Key Financial Figures

• $0.0001 — nge on Which Registered Common Stock, $0.0001 par value SNOA The Nasdaq Stock Marke

Filing Documents

• sonoma_i10q-123123.htm (10-Q) — 745KB
• sonoma_ex1041.htm (EX-10.41) — 14KB
• sonoma_ex1042.htm (EX-10.42) — 15KB
• sonoma_ex3101.htm (EX-31.1) — 8KB
• sonoma_ex3102.htm (EX-31.2) — 9KB
• sonoma_ex3201.htm (EX-32.1) — 5KB
• image_001.jpg (GRAPHIC) — 7KB
• 0001683168-24-000781.txt ( ) — 3867KB
• snoa-20231231.xsd (EX-101.SCH) — 28KB
• snoa-20231231_cal.xml (EX-101.CAL) — 46KB
• snoa-20231231_def.xml (EX-101.DEF) — 98KB
• snoa-20231231_lab.xml (EX-101.LAB) — 240KB
• snoa-20231231_pre.xml (EX-101.PRE) — 197KB
• sonoma_i10q-123123_htm.xml (XML) — 532KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 3

Unaudited Financial Statements

Item 1. Unaudited Financial Statements 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Comprehensive Loss 4 Condensed Consolidated Statements of Cash Flows 5 Condensed Consolidated Statements of Changes in Stockholders' Equity 6 Notes to Condensed Consolidated Financial Statements 7

Management's

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 17

Quantitative and

Item 3. Quantitative and Qualitative Disclosures About Market Risk 27

Controls and Procedures

Item 4. Controls and Procedures 27

- OTHER INFORMATION

PART II - OTHER INFORMATION 29

Legal

Item 1. Legal Proceedings 29

Risk

Item 1A. Risk Factors 29

Unregistered Sales

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29

Defaults Upon Senior

Item 3. Defaults Upon Senior Securities 29

Mine Safety

Item 4. Mine Safety Disclosures (Not applicable.) 29

Other

Item 5. Other Information 29

Exhibits

Item 6. Exhibits 30

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements SONOMA PHARMACEUTICALS, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (In thousands, except share amounts) December 31, 2023 March 31, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 2,406 $ 3,820 Accounts receivable, net 2,876 2,572 Inventories, net 2,955 2,858 Prepaid expenses and other current assets 4,009 4,308 Current portion of deferred consideration, net of discount 256 240 Total current assets 12,502 13,798 Property and equipment, net 397 488 Operating lease, right of use assets 341 418 Deferred tax asset 922 949 Deferred consideration, net of discount, less current portion 378 505 Other assets 78 73 Total assets $ 14,618 $ 16,231 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 864 $ 841 Accrued expenses and other current liabilities 1,847 2,029 Deferred revenue 75 100 Deferred revenue Invekra 63 60 Short-term debt 44 431 Operating lease liabilities 181 256 Total current liabilities 3,074 3,717 Long-term deferred revenue Invekra 101 140 Withholding tax payable 4,591 4,235 Operating lease liabilities, less current portion 160 162 Total liabilities 7,926 8,254 Commitments and Contingencies (Note 5) – – Stockholders' Equity Convertible preferred stock, $ 0.0001 par value; 714,286 shares authorized at December 31, 2023 and March 31, 2023, respectively, no shares issued and outstanding at December 31, 2023 and March 31, 2023, respectively – – Common stock, $ 0.0001 par value; 24,000,000 shares authorized at December 31, 2023 and March 31, 2023, respectively, 13,684,333 and 4,933,550 shares issued and outstanding at December 31, 2023 and March 31, 2023, respectively (Note 7) 2 5 Additional paid-in capital 202,795 200,904 Accumulated deficit ( 193,282 ) ( 189,514 ) Accumulated other comprehensive loss ( 2,823 ) ( 3,418 ) Total stockholders' e

View Full Filing

View this 10-Q filing on SEC EDGAR