PolarityTE (COOL) Misses Q3 EPS by 26c, Revenues Beat
PolarityTE (NASDAQ: COOL) reported Q3 EPS of ($0.86), $0.26 worse than the analyst estimate of ($0.60). Revenue for the quarter came in at $416 thousand versus the consensus estimate of $330 thousand.
- In the three months ended July 31, 2018, we recognized $416 thousand in total revenue, of which $244 thousand was revenue on SkinTE and $172 thousand was associated with contract research operations in Veterinary Sciences.
- Cost of goods sold in the three months ended July 31, 2018 was $0.2 million and approximately 55% of net revenues, which consists of manufacturing, shipping and related costs.
- Our research and development expenses for the three months ended July 31, 2018 were $2.3 million versus $1.6 million for the three months ended July 31, 2017. The $0.7 million increase was due to $0.7 million, stock-based compensation. Stock-based compensation, which is a non-cash charge included within the research and development expense, was $1.2 million in the three months ended July 31, 2018, compared with $0.5 million in the three months ended July 31, 2017.
- Selling, general and administrative expenses for the three months ended July 31, 2018 were $15.2 million, versus $3.6 million for the three months ended July 31, 2017. The $11.6 million increase primarily was due to an increase in salaries and related costs, including stock-based compensation, which is a non-cash charge, in the amount of $8.7 million in the three months ended July 31, 2018, compared with $2.5 million in the three months ended July 31, 2017.
- Our net loss attributable to common shareholders for the three months ended July 31, 2018 was $17.2 million, or $0.86 basic net loss per common share, as compared to a net loss of $5.2 million, or $0.93 net loss per common share for the three months ended July 31, 2017.
For earnings history and earnings-related data on PolarityTE (COOL) click here.