Pelthos Therapeutics Inc.
For the period ended Dec 31, 2025. Filed Mar 19, 2026.
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FY2025 · Filed Mar 19, 2026
PTHS$8.90-5.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024
| Years Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flow from operating activities: | ||
| Net loss | $(43,319) | $(7,955) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Accretion of interest for royalty obligations | 2,397 | — |
| Change in fair value of convertible note | 14,984 | — |
| Depreciation of property and equipment | 729 | — |
| Amortization of intangible assets | 1,556 | — |
| Impairment of intangible assets | 285 | — |
| Amortization of debt discount | 259 | 692 |
| Lease amortization expense | 74 | — |
| Stock-based compensation | 5,461 | 1,799 |
| Inventory write-off | 1,055 | — |
| Gain on default judgment | — | (363) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (8,810) | — |
| Inventory | 1,778 | — |
| Prepaid expenses | (880) | (861) |
| Operating lease right-of-use assets | 345 | — |
| Accounts payable | 1,356 | 1,179 |
| Accrued expenses | 6,163 | (283) |
| Contingent consideration | 2,200 | — |
| Operating lease liabilities | (282) | — |
| Deferred revenue | (589) | — |
| Deferred income tax | (7,387) | — |
| Other assets and liabilities | 35 | — |
| Net cash used in operating activities | (22,590) | (5,792) |
| Cash flow from investing activities: | ||
| Purchases of property and equipment | (99) | — |
| Acquisition of Xepi asset | (6,080) | — |
| Acquisition of Xeglyze asset | (1,818) | — |
| Acquisition of LNHC, Inc. | 2,761 | — |
| Net cash used in investing activities | (5,236) | — |
| Cash flow from financing activities: | ||
| Proceeds from PIPE, net | 27,384 | — |
| Proceeds from stock option exercises | 206 | — |
| Proceeds from convertible note | 17,898 | — |
| Proceeds from loan payable, net of debt discount | 693 | 536 |
| Payment of loan payable, net of debt discount | (845) | (215) |
| Common stock issued for cash | — | 5,972 |
| Rescission of common stock | — | (92) |
| Repurchase of common stock under stock repurchase plan | — | (75) |
| Shares issued for cash under equity line of credit | — | 83 |
| Net cash provided by financing activities | 45,336 | 6,209 |
| Net increase in cash and cash equivalents | 17,510 | 417 |
| Cash, cash equivalents and restricted cash as of beginning of period | 513 | 96 |
| Cash, cash equivalents and restricted cash as of end of period | $18,023 | $513 |
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024 (CONTINUED)
| Reconciliation to consolidated balance sheets: | ||
|---|---|---|
| Cash and cash equivalents | $17,973 | $513 |
| Restricted cash | 50 | — |
| Total cash, cash equivalents and restricted cash shown in the statement of cash flows | $18,023 | $513 |
| Supplemental cash flow information: | ||
|---|---|---|
| Cash paid for income taxes | $— | $— |
| Cash paid for interest expense | $19 | $— |
| Supplemental non-cash investing and financing activities: | ||
| Royalty obligation extinguishment | $369 | $— |
| Issuance costs allocated to convertible debt | $1,072 | $— |
| PIPE proceeds allocated to accounts payable | $1,776 | $— |
| PIPE proceeds allocated to debt payable | $20,340 | $— |
| PIPE proceeds allocated to fees | $600 | $— |
| Royalty agreement liability reclassified from additional paid in capital | $10,821 | $— |
| Debt discount from common stock issued for extension of bridge loan | $— | $448 |
| Shares issued for payment of accounts payable or for services | $53 | $7 |
| Conversion of notes to common stock | $737 | $1,363 |
| Transfer of liabilities to Chromocell Corporation for Series C Preferred Stock | $— | $2,153 |
| Account payable and accrued expenses converted to notes | $— | $1,455 |
| Account payable and accrued expenses converted to notes - related party | $— | $132 |
| Shares issued for payment of accrued interest | $— | $3,000 |
| Shares issued for payment of principal on loan payable | $— | $24,000 |
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