PURE Bioscience FY2022 revenue down 51% to $1.8M; net loss widens to $3.5M

PURE BIOSCIENCE, INC.

Net product sales of $1.81M vs $3.70M in FY2021; royalties fell to $40K from $229K.
Net loss of $3.5M ($0.04/sh) compared to $2.3M ($0.03/sh) in prior year.
Net loss excluding stock compensation was $2.9M; cash used in operations $2.5M.
Sales team expanded: three street execs, Midwest manager, two AVP corporate accounts.
CRM software implemented; two-team sales approach targeting janitorial and sanitation.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

PURE BIOSCIENCE, INC. reported fiscal year ended July 31, 2022 results: revenue $1,813,000, net income ($3.5 million), EPS ($0.04).

Period: fiscal year ended July 31, 2022
Revenue: $1,813,000
Net income: ($3.5 million)
EPS: ($0.04)
Result: reported results

Exact text from the filing

● Net product sales were $1,813,000 and $3,698,000 for the fiscal years ended July 31, 2022 and 2021, respectively. The decrease of $1,885,000 was attributable to decreased sales across our distribution and end-user network servicing the food processing, transportation, and janitorial industries. In addition, during the fiscal year ended July 31, 2022, we recognized $40,000 in royalties, compared to $229,000 in royalties for the fiscal year ended July 31, 2021. ● Net loss for the fiscal year ended July 31, 2022 was ($3.5 million), compared to ($2.3 million) for the fiscal year ended July 31, 2021. ● Net loss, excluding share-based compensation, for the fiscal year ended July 31, 2022 was ($2.9 million), compared to ($1.3 million) for the fiscal year ended July 31, 2021. ● Net loss per share was ($0.04) for the fiscal year ended July 31, 2022, compared to ($0.03) per share for the fiscal year ended July 31, 2021.

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Source: SEC EDGAR

accession 0001493152-22-029839

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