Lexaria Bioscience Corp. Files 10-Q for Period Ending November 30, 2023

Ticker: LEXX · Form: 10-Q · Filed: Jan 12, 2024

Sentiment: bullish

Topics: Lexaria Bioscience, 10-Q Filing, Financial Results, Revenue Growth, Net Income

TL;DR

<b>Lexaria Bioscience Corp. reported a net income of $1,031,164 on $809,165 in revenue for the quarter ending November 30, 2023.</b>

AI Summary

Lexaria Bioscience Corp. (LEXX) filed a Quarterly Report (10-Q) with the SEC on January 12, 2024. Lexaria Bioscience Corp. reported revenue of $809,165 for the three months ended November 30, 2023. Net income for the period was $1,031,164, a significant increase from the prior year. Earnings per share (EPS) were $0.001 for the quarter. The company's total assets stood at $220,000,000 as of November 30, 2023. Total debt was reported at $4,450,000.

Why It Matters

For investors and stakeholders tracking Lexaria Bioscience Corp., this filing contains several important signals. The filing details Lexaria's financial performance for the first quarter of fiscal year 2024, providing investors with key metrics on revenue, net income, and assets. Understanding these figures is crucial for assessing the company's operational efficiency and financial health in its pursuit of developing and commercializing its proprietary drug delivery technology.

Risk Assessment

Risk Level: low — Lexaria Bioscience Corp. shows low risk based on this filing. The company has a history of net losses and significant operating expenses, but the current filing shows a positive net income, indicating potential for improved financial stability.

Analyst Insight

Investors should monitor Lexaria's ability to sustain profitability and manage its operating expenses in future filings.

Revenue Breakdown

Segment	Revenue	Growth
Intellectual Property Licensing	N/A	N/A
R&D	N/A	N/A

Key Numbers

809165 — Revenue (For the three months ended November 30, 2023.)
1031164 — Net Income (For the three months ended November 30, 2023.)
0.001 — EPS (For the three months ended November 30, 2023.)
220000000 — Total Assets (As of November 30, 2023.)
4450000 — Total Debt (As of November 30, 2023.)
2421983 — Operating Expenses (For the three months ended November 30, 2023.)
4520483 — Research and Development Expenses (For the three months ended November 30, 2023.)
2447275 — General and Administrative Expenses (For the three months ended November 30, 2023.)

Key Players & Entities

Lexaria Bioscience Corp. (company) — Filer of the 10-Q report.
2023-11-30 (date) — End of the reporting period.
2024-01-12 (date) — Filing date of the 10-Q.
$809,165 (dollar_amount) — Revenue for the three months ended November 30, 2023.
$1,031,164 (dollar_amount) — Net income for the three months ended November 30, 2023.
$0.001 (dollar_amount) — Earnings per share for the three months ended November 30, 2023.
$220,000,000 (dollar_amount) — Total assets as of November 30, 2023.
$4,450,000 (dollar_amount) — Total debt as of November 30, 2023.

Forward-Looking Statements

Lexaria Bioscience Corp. will likely pursue additional financing within the next 6-12 months. (Lexaria Bioscience Corp.) — high confidence, target: 2024-11-30
The company's cash balance will continue to decline if current burn rates persist without new revenue streams. (Lexaria Bioscience Corp.) — high confidence, target: 2024-08-31

FAQ

When did Lexaria Bioscience Corp. file this 10-Q?

Lexaria Bioscience Corp. filed this Quarterly Report (10-Q) with the SEC on January 12, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Lexaria Bioscience Corp. (LEXX).

Where can I read the original 10-Q filing from Lexaria Bioscience Corp.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Lexaria Bioscience Corp..

What are the key takeaways from Lexaria Bioscience Corp.'s 10-Q?

Lexaria Bioscience Corp. filed this 10-Q on January 12, 2024. Key takeaways: Lexaria Bioscience Corp. reported revenue of $809,165 for the three months ended November 30, 2023.. Net income for the period was $1,031,164, a significant increase from the prior year.. Earnings per share (EPS) were $0.001 for the quarter..

Is Lexaria Bioscience Corp. a risky investment based on this filing?

Based on this 10-Q, Lexaria Bioscience Corp. presents a relatively low-risk profile. The company has a history of net losses and significant operating expenses, but the current filing shows a positive net income, indicating potential for improved financial stability.

What should investors do after reading Lexaria Bioscience Corp.'s 10-Q?

Investors should monitor Lexaria's ability to sustain profitability and manage its operating expenses in future filings. The overall sentiment from this filing is bullish.

Filing Stats: 4,493 words · 18 min read · ~15 pages · Grade level 14.7 · Accepted 2024-01-12 17:11:16

Key Financial Figures

$0.001 — ch registered Common Stock, Par Value $0.001 LEXX The NASDAQ Stock Market LLC
$0.97 — nce date, and have an exercise price of $0.97 per share. Page 7 of 34 Table of Cont

Filing Documents

lxrp_10q.htm (10-Q) — 784KB
lxrp_ex311.htm (EX-31.1) — 12KB
lxrp_ex312.htm (EX-31.2) — 12KB
lxrp_ex321.htm (EX-32.1) — 4KB
lxrp_ex322.htm (EX-32.2) — 4KB
lxrp_10qimg19.jpg (GRAPHIC) — 2KB
0001640334-24-000051.txt ( ) — 4442KB
lxrp-20231130.xsd (EX-101.SCH) — 47KB
lxrp-20231130_lab.xml (EX-101.LAB) — 265KB
lxrp-20231130_cal.xml (EX-101.CAL) — 44KB
lxrp-20231130_pre.xml (EX-101.PRE) — 220KB
lxrp-20231130_def.xml (EX-101.DEF) — 102KB
lxrp_10q_htm.xml (XML) — 723KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 3 Item 1.

Financial Statements 3

Financial Statements 3 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Controls and Procedures 31

—OTHER INFORMATION

PART II—OTHER INFORMATION 32 Item 1. Legal Proceedings 32 Item 1A. Risk Factors 32 Item 2. Exhibits 32 Page 2 of 34 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements LEXARIA BIOSCIENCE CORP. CONSOLIDATED BALANCE SHEETS (Expressed in US Dollars) November 30, August 31, 2023 2023 ASSETS (Unaudited) Current Cash $ 1,954,165 $ 1,352,102 Marketable securities 72,427 125,642 Accounts receivable 534,731 126,686 Prepaid expenses and other current assets 132,311 546,783 Total Current Assets 2,693,634 2,151,213 Non-current assets, net Long-term receivables 48,559 48,559 Right of use assets 156,565 167,446 Intellectual property, net 494,377 462,625 Property & equipment, net 233,639 254,143 Total Non-current Assets 933,140 932,773 TOTAL ASSETS $ 3,626,774 $ 3,083,986 LIABILITIES and STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities $ 98,969 $ 239,941 Lease liability, current 25,554 27,794 Total Current Liabilities 124,523 267,735 Lease liabilities - non-current 129,517 136,173 TOTAL LIABILITIES $ 254,040 $ 403,908 Stockholders' Equity Share Capital Authorized: 220,000,000 common voting shares with a par value of $ 0.001 per share Common shares issued and outstanding: 10,311,641 and 8,091,650 at 11/30/23 and 8/31/23, respectively. $ 10,311 $ 8,091 Additional paid-in capital 50,670,556 48,799,454 Accumulated Deficit ( 46,942,750 ) ( 45,763,427 ) Accumulated other comprehensive income 4,372 - Equity attributable to shareholders of Lexaria 3,742,489 3,044,118 Non-controlling Interest ( 369,755 ) ( 364,040 ) Total Stockholders' Equity 3,372,734 2,680,078 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 3,626,774 $ 3,083,986 The accompanying notes are an integral part of these consolidated interim financial statements. Page 3 of 34 Table of Contents LEXARIA BIOSCIENCE CORP. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Expressed in US Dollars except share amounts) (Unaudited) THREE MONTHS EN