Mon, Dec 16, 9:25 PM (56 days ago)
For the quarter ended October 31, 2024, PURE Bioscience, Inc. (ticker: PURE) reported net product sales of $555,000, down from $718,000 in the prior year, reflecting decreased sales across its customer base. The gross margin fell to 58% from 61%, primarily due to a shift in product mix. The company incurred a net loss of $689,000, with total operating expenses of $952,000, which includes a reduction in selling, general, and administrative expenses to $881,000 from $1,073,000. Cash and cash equivalents decreased slightly to $346,000, while current liabilities rose to $911,000, driven by increased accounts payable. The company maintains a stockholder deficiency of $3,496,000, raising concerns about its ability to continue as a going concern. Cash flow from operations was negative at $503,000. Future operations depend on market acceptance of its products and successful regulatory approvals. The company may need to secure additional financing, which could lead to dilution for existing shareholders. Overall, the financial outlook remains uncertain, reflecting ongoing losses and reliance on external funding.