Emmaus Q1 revenue drops 40% to $3.2M; cash falls to $0.8M; working capital insufficient

Emmaus Life Sciences, Inc.

2023-Q1 EPS reported -$0.03 revenue$3,234,000

Net revenue $3.2M, down from $5.3M YoY; sell-through improved but overstocking by distributors hit revenue.
Net loss to common stockholders $1.5M ($0.03/share), improved from $8.4M loss ($0.17/share) in Q1 2021.
Loss from operations widened to $3.1M from $1.6M; operating expenses reduced to $5.3M from $6.5M.
Cash $0.8M at March 31, 2022; management says working capital insufficient for 2022 without additional financing.
Launched Endari telehealth program; Florida Medicaid added Endari to preferred drug list; received UAE marketing authorization.

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