Else Nutrition (BABY) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024 was $6,547K, down from $6,999K year-over-year; Q3 revenue was $1,794K, up slightly from $1,713K in Q3 2023.

• Net loss for the nine months was $10,696K, compared to $10,509K in the prior year; Q3 net loss was $2,681K versus net income of $1,039K in Q3 2023.

• Gross profit for the nine months was $288K, up from $7K year-over-year; Q3 gross loss was $159K, an improvement from $213K loss in Q3 2023.

• The company continues to face significant liquidity challenges and has not achieved scalable commercialization.

Financial highlights

• Cash and cash equivalents decreased to $375K as of September 30, 2024, from $2,931K at December 31, 2023.

• Total assets declined to $10,146K from $16,069K at year-end 2023.

• Total equity fell to $5,023K from $6,721K at December 31, 2023.

• Net cash used in operating activities was $9,765K for the nine months, compared to $16,104K in the prior year.

• Net cash provided by financing activities was $3,851K, up from $2,961K year-over-year.

Outlook and guidance

• The company’s ability to continue as a going concern depends on generating product sales, securing collaboration agreements, and raising additional financing.

• Management has withheld and delayed payments to suppliers to preserve liquidity.

• There is material uncertainty about the company’s ability to continue as a going concern.