VERU INC
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
VERU$2.12-3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Statements of Operations
| Three Months Ended · Six Months Ended | ||||
|---|---|---|---|---|
| March 31, | March 31, | |||
| 2024 | 2023 (Restated) | 2024 | 2023 (Restated) | |
| Net revenues | $4,135,301 | $6,585,967 | $6,276,027 | $9,093,761 |
| Cost of sales | 3,457,002 | 2,493,892 | 4,447,276 | 4,299,631 |
| Gross profit | 678,299 | 4,092,075 | 1,828,751 | 4,794,130 |
| Operating expenses: | ||||
| Research and development | 2,986,791 | 17,860,701 | 4,636,841 | 38,471,828 |
| Selling, general and administrative | 7,580,340 | 12,834,494 | 15,881,771 | 30,380,359 |
| Provision for credit losses | — | 3,911,714 | — | 3,911,714 |
| Impairment of intangible assets | — | 3,900,000 | — | 3,900,000 |
| Total operating expenses | 10,567,131 | 38,506,909 | 20,518,612 | 76,663,901 |
| Gain on sale of ENTADFI® assets | — | — | 918,372 | — |
| Operating loss | (9,888,832) | (34,414,834) | (17,771,489) | (71,869,771) |
| Non-operating income (expenses): | ||||
| Interest expense | (145,310) | (697,693) | (310,267) | (1,570,923) |
| Change in fair value of derivative liabilities | 21,000 | 1,200,000 | 19,000 | 530,000 |
| Change in fair value of equity securities | (192,030) | — | (571,928) | — |
| Other income, net | 361,226 | 56,994 | 442,318 | 277,926 |
| Total non-operating income (expenses) | 44,886 | 559,301 | (420,877) | (762,997) |
| Loss before income taxes | (9,843,946) | (33,855,533) | (18,192,366) | (72,632,768) |
| Income tax expense (benefit) | 182,002 | (66,559) | 109,563 | (134,837) |
| Net loss | $(10,025,948) | $(33,788,974) | $(18,301,929) | $(72,497,931) |
| Net loss per basic and diluted common shares outstanding | $(0.07) | $(0.42) | $(0.15) | $(0.90) |
| Basic and diluted weighted average common shares outstanding | 146,381,186 | 80,834,453 | 123,366,486 | 80,695,046 |
| See notes to unaudited condensed consolidated financial statements. | ||||
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