Escalon Medical Corp. specializes in the development, manufacture, marketing and distribution of ophthalmic diagnostic imaging and surgical products. Its specializes in A-Scans, B-Scans, UBM, Pachymeters, Color or Flourescein Angiography Digital Imaging Systems, Ispan Intraocular Gases, Surgical Packs, Viscous Fluid Transfer Systems, and AXIS Image Management. The company was founded in 1987 and is headquartered in Wayne, PA.

Company profile
Ticker
ESMC
Exchange
Website
CEO
Richard J. DePiano
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Medtronic • Varian Medical Systems • Conmed • Masimo • Natus Medical • LivaNova • Outset Medical • Fonar • Cutera • Inmode ...
SEC CIK
Corporate docs
IRS number
330272839
ESMC stock data
Calendar
12 May 22
20 Aug 22
30 Jun 23
Financial summary
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Annual (USD) | Jun 21 | Jun 20 | Jun 19 | Jun 18 | |
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Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 1.3M | 1.3M | 1.3M | 1.3M | 1.3M | 1.3M |
Cash burn (monthly) | 5.81K | 50.36K | 97.3K | 28.26K | 5.23K | 49.85K |
Cash used (since last report) | 27.02K | 234.3K | 452.73K | 131.48K | 24.32K | 231.94K |
Cash remaining | 1.28M | 1.07M | 851.9K | 1.17M | 1.28M | 1.07M |
Runway (months of cash) | 220.0 | 21.3 | 8.8 | 41.5 | 245.0 | 21.5 |
Institutional ownership, Q4 2019
0.0% owned by funds/institutions
13F holders | Current |
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Total holders | 1 |
Opened positions | 1 |
Closed positions | 0 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares | Current |
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Total value | 0 |
Total shares | 1.31K |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Victory Capital Management | 1.31K | $0 |
Financial report summary
?Competition
Nova Eye Medical Limited.Risks
- Due to the Company’s history of operating losses, we received a going concern opinion from our independent registered public accounting firm.
- There are inherent uncertainties involved in estimates, judgments and assumptions used in the preparation of financial statements in accordance with United States GAAP. Any changes in estimates, judgments and assumptions used could have a material adverse effect on the Company’s business, financial position and operating results.
- Any acquisitions, strategic alliances, joint ventures and divestitures that the Company effects, if any, could result in financial results that differ from market expectations.
- The Company’s results fluctuate from quarter to quarter.
- Failure of the market to accept the Company’s products could adversely impact the Company’s business and financial condition.
- The success of products with which the Company’s products compete could have an adverse impact on the Company’s business.
- Lack of availability of key system components could result in delays, increased costs or costly redesign of the Company’s products.
- The Company is dependent on its management and key personnel to succeed.
- The Company’s products are subject to stringent ongoing regulation by the FDA and similar domestic and foreign health care regulatory authorities, and if the regulatory approvals or clearances of the Company’s products are restricted or revoked, the Company could face delays that would impair the Company’s ability to generate funds from operations.
- The Company’s products employ proprietary technology, and this technology may infringe on the intellectual property rights of third parties.
- The Company’s ability to market or sell the Company’s products may be adversely impacted by limitations on reimbursements by government programs, private insurance plans and other third party payers.
- The Company may become involved in product liability litigation, which may subject the Company to liability and divert management attention.
- The Company’s international operations could be adversely impacted by changes in laws or policies of foreign governmental agencies and social and economic conditions in the countries in which the Company operates.
- The impact of terrorism or acts of war could have a material adverse impact on the Company’s business.
- The Company’s charter documents and Pennsylvania law may inhibit a takeover.
- Future legislation or changes in government programs may adversely impact the market for the Company’s products.
- Cybersecurity incidents could disrupt business operations, result in the loss of critical and confidential information and adversely impact the Company's reputation and results of operations.
- The market price of the Company’s stock has historically been volatile, and the Company has not paid cash dividends.
Management Discussion
- Consolidated net revenue increased approximately $91,000 or 3.9%, to $2,416,000 during the three months ended March 31, 2022 as compared to the same period of last fiscal year. The increase in net revenue is attributed to an increase in sales in Trek revenue of $207,000, and an increase in Sonomed's ultrasound products of $23,000 offset by a decrease in sales of AXIS products of $68,000, and a decrease in service plans revenue of $71,000.
- Consolidated net revenue increased approximately $155,000 or 2.0%, to $7,792,000 during the nine months ended March 31, 2022 as compared to the same period of last fiscal year. The increase in net revenue is attributed to an increase in sales in Sonomed's ultrasound products of $559,000 offset by a decrease in Trek revenue of $144,000, a decrease in service plans revenue of $168,000, and a decrease in sales of AXIS products of $92,000.
- Consolidated cost of goods sold totaled approximately $1,478,000, or 61.2%, of total revenue for the three months ended March 31, 2022, as compared to $1,383,000, or 59.5%, of total revenue of the same period of last fiscal year. The increase of 1.7% in cost of goods sold as a percentage of total revenue is mainly due to changes in product sales mix and geographic differences.
Content analysis
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New words:
amended, compensation, disruption, exacerbating, export, improvement, increasingly, invaded, macroeconomic, military, modification, placement, political, proceed, Russia, Ukraine, war, warehouse, Wisconsin
Removed:
office, party
Financial reports
Current reports
8-K
Entry into a Material Definitive Agreement
6 Jul 18
8-K
Departure of Directors or Certain Officers
19 Feb 18
8-K
Entry into a Material Definitive Agreement
14 Feb 18
8-K
Changes in Registrant's Certifying Accountant
23 Jan 18
8-K
Departure of Directors or Certain Officers
6 Jul 17
8-K
Submission of Matters to a Vote of Security Holders
5 Jul 17
8-K
Entry into a Material Definitive Agreement
4 Jan 17
8-K
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
15 Nov 16
8-K
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
5 Sep 16
8-K
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
21 Aug 16
Registration and prospectus
25-NSE
Exchange delisting
24 Jan 17
S-3/A
Shelf registration (amended)
18 May 09
REGDEX
Notice of sale of securities
18 Dec 08
424B3
Prospectus supplement
20 Apr 04
REGDEX
Notice of sale of securities
29 Mar 04
S-8
Registration of securities for employees
25 Feb 02
424B3
Prospectus supplement
5 Sep 01
S-3
Shelf registration
21 Aug 01
Proxies
DEFA14A
Additional proxy soliciting materials
17 May 17
DEFA14A
Additional proxy soliciting materials
18 Nov 15
DEFA14A
Additional proxy soliciting materials
16 Nov 14
DEFA14A
Additional proxy soliciting materials
12 Nov 14
DEFA14A
Additional proxy soliciting materials
13 Nov 13
DEF 14A
Definitive proxy
16 May 13
Other
UPLOAD
Letter from SEC
8 May 11
CORRESP
Correspondence with SEC
5 May 11
UPLOAD
Letter from SEC
25 Apr 11
CORRESP
Correspondence with SEC
12 Apr 11
UPLOAD
Letter from SEC
22 Mar 11
EFFECT
Notice of effectiveness
21 May 09
CORRESP
Correspondence with SEC
19 May 09
CORRESP
Correspondence with SEC
19 May 09
CORRESP
Correspondence with SEC
18 May 09
UPLOAD
Letter from SEC
3 May 09
Ownership
SC 13D
Escalon Medical Corp
23 Oct 18
3
ESCALON MEDICAL / John Dogum ownership change
21 Feb 18
3
ESCALON MEDICAL / David James Jacovini ownership change
20 Feb 18
4
ESCALON MEDICAL / RICHARD J DEPIANO ownership change
15 Feb 18
SC 13G/A
Escalon Medical Corp
12 Feb 18
SC 13G/A
Escalon Medical Corp
9 Feb 17
SC 13G/A
Escalon Medical Corp
29 Nov 16
4
ESCALON MEDICAL / C Sean Closkey ownership change
15 May 16
4
ESCALON MEDICAL / C Todd Trusk ownership change
15 May 16
4
ESCALON MEDICAL / LISA A NAPOLITANO ownership change
15 May 16