Assertio Holdings Files Q2 2024 10-Q

TL;DR

Assertio Holdings filed its Q2 10-Q. Financials are in. Check it.

AI Summary

Assertio Holdings, Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter and first half of the fiscal year. Key financial data and business operations for this period are detailed, including product sales and other revenue streams.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Assertio Holdings, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — 10-Q filings generally indicate ongoing business operations, but specific financial performance and market conditions can introduce medium-level risk.

Key Numbers

• 20240630 — Period End Date (Indicates the end of the reporting quarter and year-to-date period.)
• 20240807 — Filing Date (Shows when the report was officially submitted to the SEC.)

Key Players & Entities

• Assertio Holdings, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240807 (date) — Filing date
• 100 S. SAUNDERS ROAD SUITE 300 LAKE FOREST, IL 60045 (address) — Company business and mailing address

FAQ

Key Financial Figures

• $0.0001 — nge on which registered: Common Stock, $0.0001 par value ASRT The Nasdaq Stock Market

Filing Documents

• asrt-20240630.htm (10-Q) — 1219KB
• exhibit102-brendanogradyof.htm (EX-10.2) — 75KB
• exhibit103-brendanogradymca.htm (EX-10.3) — 115KB
• exhibit104-nonxemployeedir.htm (EX-10.4) — 12KB
• exhibit311-q22024.htm (EX-31.1) — 11KB
• exhibit312-q22024.htm (EX-31.2) — 11KB
• exhibit321-q22024.htm (EX-32.1) — 6KB
• exhibit322-q22024.htm (EX-32.2) — 6KB
• image_0.jpg (GRAPHIC) — 0KB
• image_01.jpg (GRAPHIC) — 26KB
• image_1.jpg (GRAPHIC) — 0KB
• image_21.jpg (GRAPHIC) — 4KB
• image_31.jpg (GRAPHIC) — 22KB
• image_41.jpg (GRAPHIC) — 0KB
• image_6.jpg (GRAPHIC) — 0KB
• 0001808665-24-000035.txt ( ) — 7396KB
• asrt-20240630.xsd (EX-101.SCH) — 51KB
• asrt-20240630_cal.xml (EX-101.CAL) — 93KB
• asrt-20240630_def.xml (EX-101.DEF) — 236KB
• asrt-20240630_lab.xml (EX-101.LAB) — 548KB
• asrt-20240630_pre.xml (EX-101.PRE) — 402KB
• asrt-20240630_htm.xml (XML) — 1141KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) Condensed Consolidated Balance Sheets at June 30, 2024 and December 31, 2023 Condensed Consolidated Statements of Comprehensive (Loss) Income for the three and six months ended June 30, 2024 and 2023 Condensed Consolidated Statements of Shareholders' Equity for the three and six months ended June 30, 2024 and 2023 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 Notes to Condensed Consolidated Financial Statements

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

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Controls and Procedures

Item 4. Controls and Procedures

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings

Risk Factors

Item 1A. Risk Factors

Unregistered Sales of Equity Securities and Use of Proceeds

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

Exhibits

Item 6. Exhibits

Signatures

Signatures 2

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS ASSERTIO HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share data) (Unaudited) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 44,735 $ 73,441 Short-term investments 43,644 — Accounts receivable, net 39,913 47,663 Inventories, net 39,080 37,686 Prepaid and other current assets 10,480 12,272 Total current assets 177,852 171,062 Property and equipment, net 664 770 Intangible assets, net 99,030 111,332 Other long-term assets 1,897 3,255 Total assets $ 279,443 $ 286,419 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 15,271 $ 13,439 Accrued rebates, returns and discounts 58,424 58,137 Accrued liabilities 15,124 18,213 Contingent consideration, current portion 2,700 2,700 Other current liabilities 665 954 Total current liabilities 92,184 93,443 Long-term debt 38,729 38,514 Other long-term liabilities 16,377 16,459 Total liabilities 147,290 148,416 Commitments and contingencies (Note 15 ) Shareholders' equity: Common stock, $ 0.0001 par value, 200,000,000 shares authorized; 95,333,214 and 94,668,523 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. 9 9 Additional paid-in capital 791,871 789,537 Accumulated deficit ( 659,727 ) ( 651,543 ) Total shareholders' equity 132,153 138,003 Total liabilities and shareholders' equity $ 279,443 $ 286,419 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 ASSERTIO HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (in thousands, except per share data) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues: Product sales, net $ 30,695 $ 40,083 $ 62,557 $ 81,852 Royalties and milestones 431 723 1,017 1,420 Other revenue — 185 — 185 Total revenues 31,126 40,991 63,574 83,457 Costs and expenses: C