Tivic Health Systems Q2 2024: Minimal Revenue, New Agreement
Ticker: TIVC · Form: 10-Q · Filed: Aug 14, 2024 · CIK: 1787740
Sentiment: neutral
Topics: 10-Q, revenue, agreement
TL;DR
Tivic Health Q2 2024: Revenue still $0.01M, signed fulfillment deal with Alom.
AI Summary
Tivic Health Systems, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported minimal revenue, with $0.01 million in product sales for Q2 2024 and Q2 2023. Significant events include a Fulfillment Services Agreement with Alom Technologies Corporation on March 5, 2024, and ongoing operations related to electromedical apparatus.
Why It Matters
This filing provides insight into Tivic Health's financial performance and operational activities, particularly its revenue generation and strategic partnerships, which are crucial for its growth and market position.
Risk Assessment
Risk Level: medium — The company's extremely low revenue and reliance on specific agreements suggest a high degree of financial risk and uncertainty.
Key Numbers
- $0.01M — Product Sales (For Q2 2024 and Q2 2023, indicating minimal revenue generation.)
- 2024-06-30 — Reporting Period End Date (The end of the fiscal quarter covered by this 10-Q filing.)
Key Players & Entities
- Tivic Health Systems, Inc. (company) — Filer
- Alom Technologies Corporation (company) — Party to Fulfillment Services Agreement
- March 5, 2024 (date) — Date of Fulfillment Services Agreement
- $0.01 million (dollar_amount) — Product Sales for Q2 2024 and Q2 2023
FAQ
What is the total revenue for the three months ended June 30, 2024?
The filing indicates product sales of $0.01 million for the three months ended June 30, 2024.
When was the Fulfillment Services Agreement with Alom Technologies Corporation entered into?
The Fulfillment Services Agreement with Alom Technologies Corporation was entered into on March 5, 2024.
What was the revenue from product sales for the comparable period in the prior year?
Product sales for the three months ended June 30, 2023, were also $0.01 million.
What is Tivic Health Systems' primary industry classification?
Tivic Health Systems, Inc. is classified under ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845].
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
Filing Stats: 4,562 words · 18 min read · ~15 pages · Grade level 16.3 · Accepted 2024-08-14 16:20:49
Key Financial Figures
- $0.0001 — of Each Class Common Stock, par value $0.0001 per share Trading Symbol(s) TIVC
Filing Documents
- tivc-20240630.htm (10-Q) — 1567KB
- tivc-ex31_1.htm (EX-31.1) — 15KB
- tivc-ex31_2.htm (EX-31.2) — 16KB
- tivc-ex32_1.htm (EX-32.1) — 13KB
- img41944430_0.jpg (GRAPHIC) — 31KB
- 0000950170-24-097056.txt ( ) — 7118KB
- tivc-20240630.xsd (EX-101.SCH) — 1021KB
- tivc-20240630_htm.xml (XML) — 1181KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION Page Item 1.
Financial Statements
Financial Statements 1 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 29 Item 4.
Controls and Procedures
Controls and Procedures 29
- OTHER INFORMATION
PART II - OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 31 Item 1A.
Risk Factors
Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3. Defaults upon Senior Securities 32 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 32 Item 6. Exhibits 32
Signatures
Signatures 34 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Our condensed financial statements included in this Quarterly Report on Form 10Q are as follows: Condensed Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 2 Condensed Statements of Operations for the three and six months ended June 30, 2024 and 2023 (unaudited) 3 Condensed Statements of Stockholders' Equity for the three and six months ended June 30, 2024 and 2023 (unaudited) 4 Condensed Statements of Cash Flow for the six months ended June 30, 2024 and 2023 (unaudited) 5 Notes to Condensed Financial Statements (unaudited) 6 This Quarterly Report on Form 10Q for the quarter ended June 30, 2024, should be read in conjunction with the Company's Annual Report on Form 10K for the year ended December 31, 2023, filed with the Securities and Exchange Commission ("SEC") on March 25, 2024. The accompanying condensed financial statements and footnotes have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the SEC instructions to Form 10Q. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the interim period ended June 30, 2024 are not necessarily indicative of the results that can be expected for the full year. 1 Table of Contents Tivic Health Systems, Inc. Condensed Balance Sheets (Unaudited) June 30, 2024 and December 31, 2023 (in thousands, except share and per share data) June 30, December 31, 2024 2023 ASSETS Current assets Cash and cash equivalents $ 3,693 $ 3,395 Accounts receivable, net 16 174 Inventory, net 766 756 Prepaid expenses and other current assets 188 327 Total current assets 4,663 4,652 Property and equipment, net 120 122 Right-of-use assets, operating lease — 349 Other assets — 34 Total assets $ 4,783 $ 5,157 LIABILITIES A