Tivic Health Q1 2023 revenue down 12% to $376K; gross profit up 61% to $113K

Valion Bio, Inc.

2023-Q1 EPS reported -$0.11 revenue$376,000

Net loss $2.1M vs $2.2M prior year; cash $5.2M at quarter end.
Gross margin improved 61% on 17% higher ASP and 15% lower variable cost.
Revenue decline of 12% due to 27% unit sales drop and termination of less profitable retail channels.
Innovation pipeline expanded: vagus nerve stimulation program; collaboration with Feinstein Institute.
Closed $5M financing in Feb 2023; B2B sales portal and price increases implemented in April 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Valion Bio, Inc. reported the first quarter 2023 ended March 31, 2023 results: revenue $376 thousand, net income Net loss of $2.1 million.

Period: the first quarter 2023 ended March 31, 2023
Revenue: $376 thousand
Net income: Net loss of $2.1 million
Result: reported results

Exact text from the filing

First Quarter 2023 Financial Summary • Gross profit increased 61.3% to $113 thousand in the first quarter 2023, compared with $70 thousand in first quarter 2022, on a decrease of 12% in total revenue to $376 thousand in the first quarter 2023 from $428 thousand in first quarter 2022. • Net loss of $2.1 million in the first quarter 2023, compared with $2.2 million in first quarter 2022.

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Valion Bio, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-022236

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