CUMBERLAND PHARMACEUTICALS INC

For the period ended Dec 31, 2023. Filed Mar 13, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 13, 2024

CPIX$5.37+2.9%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

	2023	2022
Revenues:
Net product revenue	$37,513,492	$40,681,182
Other revenue	2,039,015	1,329,767
Net revenues	39,552,507	42,010,949
Costs and expenses:
Cost of products sold	6,066,611	9,118,521
Selling and marketing	18,451,765	16,660,945
Research and development	5,834,229	6,688,924
General and administrative	10,651,915	10,180,120
Amortization and impairment	8,102,648	5,067,368
Total costs and expenses	49,107,168	47,715,878
Operating loss	(9,554,661)	(5,704,929)
Interest income	286,854	98,405
Other income	2,828,871	—
Other income - settlement	475,000	—
Other income - gain on insurance proceeds	346,800	611,330
Interest expense	(667,861)	(585,995)
Loss before income taxes	(6,284,997)	(5,581,189)
Income tax expense	(45,769)	(68,850)
Net loss	(6,330,766)	(5,650,039)
Net loss at subsidiary attributable to noncontrolling interests	51,446	79,798
Net loss attributable to common shareholders	$(6,279,320)	$(5,570,241)
Loss per share attributable to common shareholders:
Basic	$(0.44)	$(0.38)
Diluted	$(0.44)	$(0.38)
Weighted-average common shares outstanding:
Basic	14,298,774	14,563,592
Diluted	14,298,774	14,563,592

See accompanying notes to consolidated financial statements.

ContentsView on SEC.gov

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