Emmaus Life Sciences reports Q2 2022 net loss of $8.9M; warns of insufficient working capital for 12 months

Emmaus Life Sciences, Inc.

2022-Q2 EPS reported -$0.21 vs consensus $0.01 ▼ miss (-2158.8%)

Net revenues Q2 2022 $4.3M, down 34% YoY from $6.5M; sequentially up 33% from Q1 2022 $3.2M.
Net loss Q2 2022 $8.9M ($0.18/sh) vs net income $2.5M ($0.05/sh) in Q2 2021.
Cash and equivalents $1.0M at June 30, 2022, down from $2.3M at Dec 31, 2021.
Management says working capital insufficient for next 12 months without restructuring or new financing.
In discussions to restructure indebtedness; awaiting Saudi marketing approval decision.

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