Revenue for the Three Months Ended September 30, 2024 Increased 43%
Income from Operations for the Nine Months Ended September 30, 2024 Increased 648%
Operating Cash Flow for the Nine Months Ended September 30, 2024 Increased 1,508%
Previously Announced Share Repurchase Program for up to $1 Million Has Begun
This post was written and published as a collaboration between the in-house editorial team at Benzinga and Tonix Pharmaceuticals Holding Corp. with financial support from Tonix. The two organizations work to ensure that any and all information contained within is true and accurate as of the date hereof to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
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Read MoreNet Loss and Earnings per Diluted Share of $7.1 million and $1.53
Adjusted EBITDA was a $2.3 million loss, a $1.0 million improvement versus third quarter of 2023
The Company achieved third quarter revenue guidance of $2.0 million, a growth of 325% versus second quarter of 2024
The Company expects to generate $2.4 million in revenue in the fourth quarter of 2024
Stockholders' Equity was $5.8 million at the end of the third quarter of 2024
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Read MoreThird Quarter Highlights
Per Class B share(3): $1.09 adjusted basic earnings up 14.7%; $1.08 basic earnings up 13.7%; currency translation negative $0.01 per share
Sales increased 9.4% on 6.9% organic growth, 1.8% acquisition growth and 0.7% positive currency translation
CCL, Avery, Checkpoint and Innovia posted organic sales growth of 4.9%, 3.0%, 14.5% and 18.0%, respectively
Operating income(1) improved 12.8%, with a 15.6% operating margin(1) up 50 bps
Nine-Month Highlights
Per Class B share(3): $3.30 adjusted basic earnings up 18.3%; $3.72 basic earnings up 34.3%; $0.44 revaluation gain included in basic earnings; currency translation negative $0.01 per share
Sales increased 8.9% on 5.8% organic growth, 2.6% acquisition growth and 0.5% positive currency translation
Operating income(1) improved 15.7%, with a 16.1% operating margin(1) up 90 bps
- Dermata nears completion of enrollment in its DMT310 Phase 3 Spongilla Treatment of Acne Research (STAR-1) clinical trial -
- Dermata continues discussions with potential botulinum toxin partners for DMT410 -
- Raised $5.1 million in gross proceeds from financings completed in 3Q 2024 -
Read MoreNet income of $1.5 million
Adjusted EBITDA1 of $1.9 million
ADHD Portfolio net revenue up 1% to $15.3 million
Pediatric Portfolio net revenue up 54% sequentially
$20.1 million cash balance at September 30, 2024
Organizational changes and operating optimization plan implemented to further streamline operations, reduce expenses, and accelerate path to consistent cash flow
Ryan Selhorn promoted to Chief Financial Officer
Company to host conference call and webcast today, November 13, 2024, at 4:30 p.m. Eastern time
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