Better Choice Q3 net sales $11.9M (-10% YoY); net loss $6.5M vs $3.5M

SRx Health Solutions, Inc.

2022-Q3 EPS reported -$0.51 revenue$45,394,000

Net sales $11.9M, down from $13.2M in Q3 2021; YTD net sales $45.4M, up 30% YoY.
Gross margin improved to 35% (adjusted 37%) from 29% in Q2 2022; loss from operations $6.4M.
Extended revolving credit facility to $13.5M, removed going concern language from 10-Q.
Adjusted EBITDA loss $2.9M vs $1.4M loss in Q3 2021; net loss $6.5M vs $3.5M.
International net sales up 31% YoY; domestic softness due to channel destocking.

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 1.0

SRx Health Solutions, Inc. reported third quarter ended September 30, 2022 results: revenue $ 11,865, net income $ (6,547), EPS $ (0.22).

Period: third quarter ended September 30, 2022
Revenue: $ 11,865
Net income: $ (6,547)
EPS: $ (0.22)
Result: reported results

Exact text from the filing

Better Choice Company Inc. Unaudited Consolidated Statements of Operations (Dollars in thousands, except share and per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net sales $ 11,865 $ 13,200 $ 45,394 $ 35,019 Cost of goods sold 7,700 8,762 31,795 22,407 Gross profit 4,165 4,438 13,599 12,612 Operating expenses: Selling, general and administrative 10,007 7,745 25,771 21,397 Share-based compensation 562 660 2,454 3,517 Total operating expenses 10,569 8,405 28,225 24,914 Loss from operations (6,404) (3,967) (14,626) (12,302) Other (expense) income: Interest expense, net (142) (79) (324) (3,148) Gain on extinguishment of debt, net — — — 457 Change in fair value of warrant liabilities — 590 — 23,463 Total other (expense) income, net (142) 511 (324) 20,772 Net (loss) income before income taxes (6,546) (3,456) (14,950) 8,470 Income tax expense 1 — 4 — Net (loss) income available to common stockholders $ (6,547) $ (3,456) $ (14,954) $ 8,4

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SRx Health Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001471727-22-000092

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