Renalytix plc
For the period ended Sep 30, 2024. Filed Nov 19, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 19, 2024
RENXFStored price and day change unavailable
Contents
Item 1. Consolidated Financial Statements (unaudited)
CONSOLIDATED BALANCE SHEETS (Unaudited)
| (in thousands, except share and per share data) | September 30, 2024 | June 30, 2024 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $909 | $4,680 |
| Accounts receivable, net | 902 | 722 |
| Prepaid expenses and other current assets | 1,068 | 716 |
| Total current assets | 2,879 | 6,118 |
| Property and equipment, net | 202 | 216 |
| Investment in VericiDx | 776 | 698 |
| Other assets, net | 937 | 940 |
| Total assets | $4,794 | $7,972 |
| Liabilities and Shareholders’ Deficit | ||
| Current liabilities: | ||
| Accounts payable | $3,188 | $1,590 |
| Accounts payable – related party | 2,408 | 1,018 |
| Accrued expenses and other current liabilities | 2,162 | 3,354 |
| Accrued expenses – related party | 102 | 1,329 |
| Current lease liability | 11 | 45 |
| Convertible notes-current | 4,142 | 4,159 |
| Total current liabilities | 12,013 | 11,495 |
| Convertible notes-noncurrent | 4,100 | 4,331 |
| Total liabilities | 16,113 | 15,826 |
| Commitments and contingencies (Note 10) | ||
| Shareholders’ deficit: | ||
| Ordinary shares, £0.0025 par value per share: 173,841,695 shares authorized; 165,925,513 and 154,368,191 shares issued and outstanding at September 30, 2024 and June 30, 2024, respectively | 515 | 478 |
| Additional paid-in capital | 206,705 | 204,893 |
| Accumulated other comprehensive loss | (2,029) | (1,443) |
| Accumulated deficit | (216,510) | (211,782) |
| Total shareholders’ deficit | (11,319) | (7,854) |
| Total liabilities and shareholders’ deficit | $4,794 | $7,972 |
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited)
| For the Three Months Ended September 30, | ||
|---|---|---|
| (in thousands, except share and per share data) | 2024 | 2023 |
| Revenue | $522 | $459 |
| Cost of revenue | 422 | 502 |
| Gross profit (loss) | 100 | (43) |
| Operating expenses: | ||
| Research and development | 921 | 2,787 |
| General and administrative | 3,271 | 6,059 |
| Total operating expenses | 4,192 | 8,846 |
| Loss from operations | (4,093) | (8,889) |
| Foreign currency gain, net | 37 | 289 |
| Fair value adjustment to VericiDx investment | 97 | (447) |
| Fair value adjustment to convertible notes | (762) | (1,207) |
| Other (expense) income, net | (5) | 100 |
| Net loss before income taxes | (4,726) | (10,154) |
| Income tax expense | (2) | — |
| Net loss | (4,728) | (10,154) |
| Net loss per ordinary share—basic | $(0.04) | $(0.11) |
| Net loss per ordinary share—diluted | $(0.04) | $(0.11) |
| Weighted average ordinary shares—basic | 105,697,401 | 94,767,841 |
| Weighted average ordinary shares—diluted | 105,697,401 | 94,767,841 |
| Other comprehensive income (loss): | ||
| Changes in the fair value of the convertible notes | (125) | 75 |
| Foreign exchange translation adjustment | (461) | 42 |
| Comprehensive loss | $(5,314) | $(10,037) |
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (DEFICIT) (Unaudited)
| Ordinary shares · Additionalpaid-in · Accumulated other comprehensive · Accumulated · Totalshareholders’ | ||||||||
|---|---|---|---|---|---|---|---|---|
| (in thousands, except share and per data) · Shares · Amount · capital · loss · deficit · deficit | ||||||||
| Balance at July 1, 2024 | 154,368,191 | $478 | $204,893 | $(1,443) | $(211,782) | $(7,854) | ||
| Shares issued for repayment of convertible bond | 11,557,322 | 37 | 1,551 | — | — | 1,588 | ||
| Share-based compensation expense | — | — | 254 | — | — | 254 | ||
| Changes in the fair value of the convertible notes at fair value through other comprehensive income (loss) | — | — | — | (125) | — | (125) | ||
| Currency translation adjustment | — | — | 7 | (461) | — | (454) | ||
| Net loss | — | — | — | (4,728) | (4,728) | |||
| Balance at September 30, 2024 | 165,925,513 | $515 | $206,705 | $(2,029) | $(216,510) | $(11,319) | ||
| Ordinary shares · Additionalpaid-in · Accumulated other comprehensive · Accumulated · Totalshareholders’ | ||||||
|---|---|---|---|---|---|---|
| (in thousands, except share and per share data) | Shares | Amount | capital | loss | deficit | equity (deficit) |
| Balance at July 1, 2023 | 93,781,478 | $286 | $186,456 | $(1,450) | $(178,325) | $6,967 |
| Shares issued for repayment of convertible bond | 1,052,422 | 3 | 1,051 | — | — | 1,054 |
| Vesting of RSUs | 185,540 | 1 | — | — | — | 1 |
| Share-based compensation expense | — | — | 524 | — | — | 524 |
| Currency translation adjustment | — | — | — | 42 | — | 42 |
| Changes in the fair value of the convertible notes at fair value through other comprehensive income (loss) | — | — | — | 75 | — | 75 |
| Net loss | — | — | — | — | (10,154) | (10,154) |
| Balance at September 30, 2023 | 95,019,440 | $290 | $188,031 | $(1,333) | $(188,479) | $(1,491) |
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