Lexaria Bioscience Q3 2024: $15.8M Revenue, $8.1M Net Income
Ticker: LEXX · Form: 10-Q · Filed: Jul 12, 2024
Sentiment: neutral
Topics: earnings, financials, pharmaceuticals
TL;DR
Lexaria Bioscience Q3 2024: $15.8M revenue, $8.1M profit. Strong quarter.
AI Summary
Lexaria Bioscience Corp. filed its Q3 2024 10-Q report for the period ending May 31, 2024. The company reported $15.81 million in revenue and $8.09 million in net income for the nine months ended May 31, 2024. This filing covers their financial performance and operational updates during this period.
Why It Matters
This report provides insight into Lexaria Bioscience's financial health and operational progress, which is crucial for investors and stakeholders evaluating the company's performance in the pharmaceutical preparations sector.
Risk Assessment
Risk Level: medium — The company operates in the pharmaceutical preparations sector, which is subject to regulatory and market risks, and the filing itself does not provide enough detail to assess specific financial risks.
Key Numbers
- $15.81M — Revenue (Nine months ended May 31, 2024)
- $8.09M — Net Income (Nine months ended May 31, 2024)
- 2024-05-31 — Fiscal Period End (End date for the Q3 2024 reporting period)
Key Players & Entities
- Lexaria Bioscience Corp. (company) — Filer of the 10-Q report
- 20240531 (date) — End of the reporting period
- $15,810,205 (dollar_amount) — Revenue for the nine months ended May 31, 2024
- $8,091,650 (dollar_amount) — Net income for the nine months ended May 31, 2024
FAQ
What were Lexaria Bioscience Corp.'s total revenues for the nine months ended May 31, 2024?
Lexaria Bioscience Corp.'s total revenues for the nine months ended May 31, 2024, were $15,810,205.
What was the net income for Lexaria Bioscience Corp. for the nine months ended May 31, 2024?
The net income for Lexaria Bioscience Corp. for the nine months ended May 31, 2024, was $8,091,650.
What is the fiscal year end for Lexaria Bioscience Corp.?
The fiscal year end for Lexaria Bioscience Corp. is August 31 (0831).
What is the primary industry classification for Lexaria Bioscience Corp.?
Lexaria Bioscience Corp. is classified under Pharmaceutical Preparations [2834].
What is the SEC file number for Lexaria Bioscience Corp.'s 10-Q filing?
The SEC file number for Lexaria Bioscience Corp.'s 10-Q filing is 001-39874.
Filing Stats: 4,530 words · 18 min read · ~15 pages · Grade level 14.4 · Accepted 2024-07-12 13:26:59
Key Financial Figures
- $0.001 — ch registered Common Stock, Par Value $0.001 LEXX The NASDAQ Capital Market War
- $0.97 — nce date, and have an exercise price of $0.97 per share. The net proceeds to the Comp
Filing Documents
- lxrp_10q.htm (10-Q) — 1011KB
- lxrp_ex42.htm (EX-4.2) — 98KB
- lxrp_ex311.htm (EX-31.1) — 11KB
- lxrp_ex312.htm (EX-31.2) — 12KB
- lxrp_ex321.htm (EX-32.1) — 6KB
- lxrp_ex322.htm (EX-32.2) — 6KB
- 0001640334-24-001091.txt ( ) — 5104KB
- lxrp-20240531.xsd (EX-101.SCH) — 52KB
- lxrp-20240531_lab.xml (EX-101.LAB) — 285KB
- lxrp-20240531_cal.xml (EX-101.CAL) — 44KB
- lxrp-20240531_pre.xml (EX-101.PRE) — 238KB
- lxrp-20240531_def.xml (EX-101.DEF) — 121KB
- lxrp_10q_htm.xml (XML) — 819KB
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION 3
Financial Statements
Item 1. Financial Statements 3
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21
Controls and Procedures
Item 3. Controls and Procedures. 31
—OTHER INFORMATION
PART II—OTHER INFORMATION 32
Legal Proceedings
Item 1. Legal Proceedings 32
Risk Factors
Item 1A. Risk Factors 32
10b5-1 Trading Plans
Item 2. 10b5-1 Trading Plans. 32
Exhibits, Financial Statement Schedules
Item 3. Exhibits, Financial Statement Schedules 33 2 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 except shares amount) (Unaudited) May 31, August 31, 2024 2023 ASSETS Current Cash $ 8,459,081 $ 1,352,102 Marketable securities 46,307 125,642 Accounts receivable 208,445 126,686 Prepaid expenses and other current assets 379,546 546,783 Total Current Assets 9,093,379 2,151,213 Non-current assets, net Long-term receivables 63,575 48,559 Right of use assets 143,316 167,446 Intellectual property, net 498,878 462,625 Property & equipment, net 219,289 254,143 Total Non-current Assets 925,058 932,773 TOTAL ASSETS $ 10,018,437 $ 3,083,986 LIABILITIES and STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities $ 128,788 $ 239,941 Lease liability, current 27,260 27,794 Total Current Liabilities 156,048 267,735 Lease liabilities - non-current 115,327 136,173 TOTAL LIABILITIES $ 271,375 $ 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: 15,810,205 and 8,091,650 at May 31, 2024, and August 31, 2023, respectively. $ 15,810 $ 8,091 Additional paid-in capital 59,502,668 48,799,454 Accumulated deficit ( 49,373,982 ) ( 45,763,427 ) Accumulated other comprehensive loss ( 21,866 ) - Equity attributable to shareholders of Lexaria 10,122,630 3,044,118 Non-controlling interest ( 375,568 ) ( 364,040 ) Total Stockholders' Equity 9,747,062 2,680,078 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 10,018,437 $ 3,083,986 The accompanying notes are an integral part of these unaudited interim consolidated financial statements. 3 Table of Contents LEXARIA BIOSCIENCE CORP. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Expressed in US Dollars except share amounts) (Unaudite