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Novo Integrated Sciences | 8-K: Novo Integrated Sciences Reports Fiscal Year 2024 Third Quarter Financial Results

Novo Integrated Sciences | 8-K: Novo Integrated Sciences Reports Fiscal Year 2024 Third Quarter Financial Results

Novo Integrated Sciences | 8-K：Novo Integrated Sciences公布2024财年第三季度财务业绩
美股SEC公告 ·  2024/07/20 05:06

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Novo Integrated Sciences reported Q3 FY2024 financial results with revenues of $3.15 million, down 4% YoY from $3.29 million, primarily due to decreased product sales. Despite this, healthcare services revenue increased by 8.1% compared to the same period last year. Operating costs rose 25% to $3.42 million due to inflationary pressures.The company's net loss significantly widened to $13.74 million, an 818% increase from $1.50 million in Q3 FY2023. This substantial increase was mainly attributed to a $6.72 million loss in derivative liability fair value, $2.75 million debt discount amortization, and $1.46 million foreign currency exchange loss. Cash and cash equivalents stood at $1.54 million, with total assets of $35.33 million.In April 2024, the company secured a $6.21 million Securities Purchase Agreement with Streeterville Capital LLC, carrying a 10.9% interest rate and 12-month maturity. The proceeds were partially used to repay existing notes, including a $3.23 million Mast Hill note and an $83,000 First Fire note.
Novo Integrated Sciences reported Q3 FY2024 financial results with revenues of $3.15 million, down 4% YoY from $3.29 million, primarily due to decreased product sales. Despite this, healthcare services revenue increased by 8.1% compared to the same period last year. Operating costs rose 25% to $3.42 million due to inflationary pressures.The company's net loss significantly widened to $13.74 million, an 818% increase from $1.50 million in Q3 FY2023. This substantial increase was mainly attributed to a $6.72 million loss in derivative liability fair value, $2.75 million debt discount amortization, and $1.46 million foreign currency exchange loss. Cash and cash equivalents stood at $1.54 million, with total assets of $35.33 million.In April 2024, the company secured a $6.21 million Securities Purchase Agreement with Streeterville Capital LLC, carrying a 10.9% interest rate and 12-month maturity. The proceeds were partially used to repay existing notes, including a $3.23 million Mast Hill note and an $83,000 First Fire note.
Novo Integrated Sciences发布了2024财年第三季度的财务结果，营业收入为315万美元，同比下降4%，前一年为329万美元，这主要是由于产品销售减少。尽管如此，医疗服务收入与去年同期相比增长了8.1%。由于通货膨胀压力，运营成本增长了25%，达到342万美元。公司的净亏损大幅扩大至1374万美元，比2023财年第三季度的150万美元增加了818%。这种大幅增加主要归因于672万美元的衍生负债公允价值损失、275万美元的债务折扣摊销和146万美元的外币兑换损失。现金及现金等价物为154万美元，总资产为3533万美元。2024年4月，公司与Streeterville Capital LLC签署了621万美元的证券购买协议，利率为10.9%，期限为12个月。收益部分用于偿还现有的票据，包括323万美元的Mast Hill票据和83,000美元的First Fire票据。
Novo Integrated Sciences发布了2024财年第三季度的财务结果，营业收入为315万美元，同比下降4%，前一年为329万美元，这主要是由于产品销售减少。尽管如此，医疗服务收入与去年同期相比增长了8.1%。由于通货膨胀压力，运营成本增长了25%，达到342万美元。公司的净亏损大幅扩大至1374万美元，比2023财年第三季度的150万美元增加了818%。这种大幅增加主要归因于672万美元的衍生负债公允价值损失、275万美元的债务折扣摊销和146万美元的外币兑换损失。现金及现金等价物为154万美元，总资产为3533万美元。2024年4月，公司与Streeterville Capital LLC签署了621万美元的证券购买协议，利率为10.9%，期限为12个月。收益部分用于偿还现有的票据，包括323万美元的Mast Hill票据和83,000美元的First Fire票据。
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