Emmaus Life Sciences reports FY2022 net loss of $10.6M; going concern doubt raised

Emmaus Life Sciences, Inc.

2023-Q1 EPS reported -$0.07 revenue$6,753,000

Net revenues $18.4M, down 10.7% from $20.6M in 2021; operating loss widened to $6.6M from $6.1M.
Net loss attributable to common stockholders $10.6M ($0.21 per share) vs $15.9M ($0.32) in 2021.
Cash and cash equivalents $2.0M at Dec 31, 2022, down from $2.3M; substantial doubt about going concern.
Audit report includes going-concern qualification; company cites Covid disruptions and higher distributor discounts.
Marketing authorizations for Endari obtained in Qatar, Kuwait, and UAE in 2022; management cites strong sales momentum.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Emmaus Life Sciences, Inc. reported the year ended December 31, 2022 results: revenue $18.4 million, net income ($10.6 million, or $0.21 per share), EPS $(0.21) per share.

Period: the year ended December 31, 2022
Revenue: $18.4 million
Net income: ($10.6 million, or $0.21 per share)
EPS: $(0.21) per share
Result: reported results

Exact text from the filing

earlier in 2022, so the sales momentum is strong for the upcoming year.” Financial and Operating Results Net Revenues. Net revenues for the year ended December 31, 2022 were $18.4 million, compared to $20.6 million for 2021. Although sales volume as measured by number of boxes of Endari sold increased compared to 2021, net revenues were adversely affected by

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Emmaus Life Sciences, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-025506

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