Tivic Health Systems Files Q3 2024 10-Q
Ticker: TIVC · Form: 10-Q · Filed: Nov 14, 2024 · CIK: 1787740
Sentiment: neutral
Topics: 10-Q, financials, warrants
TL;DR
Tivic Health's Q3 10-Q shows minimal retained earnings but details warrant activity and past offerings.
AI Summary
Tivic Health Systems, Inc. filed a 10-Q for the period ending September 30, 2024. The company reported retained earnings of $0.01 as of September 30, 2024, and $0.01 as of March 31, 2023. Additional paid-in capital was $0.01 as of March 31, 2023. The filing also references Series B warrants and various agreements and offerings from 2023 and 2024.
Why It Matters
This filing provides a snapshot of Tivic Health's financial position and key events during the third quarter of 2024, offering insights into its capital structure and warrant activity.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative financial disclosures.
Key Numbers
- $0.01 — Retained Earnings (As of September 30, 2024)
- $0.01 — Retained Earnings (As of March 31, 2023)
- $0.01 — Additional Paid-In Capital (As of March 31, 2023)
Key Players & Entities
- Tivic Health Systems, Inc. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of reporting period
- 2023-03-31 (date) — Prior period balance sheet date
- Maxim Group LLC (company) — Mentioned in relation to warrants and offerings
- Series B warrants (financial_instrument) — Mentioned in relation to capital structure
FAQ
What was the net income or loss for the three months ended September 30, 2024?
The filing does not explicitly state the net income or loss for the three months ended September 30, 2024, but it does reference retained earnings.
What is the current status of the Series B warrants?
The filing mentions Series B warrants with an expiration date in May 2024, indicating they may have expired or been exercised.
Were there any significant sales to resellers or product sales in the third quarter of 2024?
The filing references product sales to resellers for the period January 1, 2023, to September 30, 2023, but does not provide specific Q3 2024 figures.
What was the total revenue from contracts with customers for the period July 1, 2023, to September 30, 2023?
The filing references revenue from contracts with customers for the period July 1, 2023, to September 30, 2023, in the context of customer concentration risk, but the specific total is not immediately apparent.
What was the total amount of shipping and handling costs for the third quarter of 2023?
The filing references shipping and handling costs for the period July 1, 2023, to September 30, 2023, but the specific dollar amount is not provided in this excerpt.
Filing Stats: 4,574 words · 18 min read · ~15 pages · Grade level 16.6 · Accepted 2024-11-14 16:14:50
Key Financial Figures
- $0.0001 — of Each Class Common Stock, par value $0.0001 per share Trading Symbol(s) TIVC
Filing Documents
- tivc-20240930.htm (10-Q) — 1602KB
- tivc-ex31_1.htm (EX-31.1) — 16KB
- tivc-ex31_2.htm (EX-31.2) — 16KB
- tivc-ex32_1.htm (EX-32.1) — 13KB
- img41947313_0.jpg (GRAPHIC) — 31KB
- 0000950170-24-127072.txt ( ) — 7308KB
- tivc-20240930.xsd (EX-101.SCH) — 1046KB
- tivc-20240930_htm.xml (XML) — 1215KB
- 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 21 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 32 Item 4.
Controls and Procedures
Controls and Procedures 32
- OTHER INFORMATION
PART II - OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 33 Item 1A.
Risk Factors
Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3. Defaults upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Item 6. Exhibits 34
Signatures
Signatures 35 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 September 30, 2024 (unaudited) and December 31, 2023 2 Condensed Statements of Operations for the three and nine months ended September 30, 2024 and 2023 (unaudited) 3 Condensed Statements of Stockholders' Equity for the three and nine months ended September 30, 2024 and 2023 (unaudited) 4 Condensed Statements of Cash Flow for the nine months ended September 30, 2024 and 2023 (unaudited) 6 Notes to Condensed Financial Statements (unaudited) 7 This Quarterly Report on Form 10Q for the quarter ended September 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 September 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) September 30, 2024 and December 31, 2023 (in thousands, except share and per share data) September 30, December 31, 2024 2023 ASSETS Current assets Cash and cash equivalents $ 2,189 $ 3,395 Accounts receivable, net 9 174 Inventory, net 731 756 Prepaid expenses and other current assets 234 327 Total current assets 3,163 4,652 Property and equipment, net 119 122 Right-of-use assets, operating lease — 349 Deferred offering costs 112 —