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Escalon Medical (ESMC)

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.

ESMC stock data

Calendar

12 May 22
20 Aug 22
30 Jun 23
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jun 21 Jun 20 Jun 19 Jun 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
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

Beta Read what these cash burn values mean

0.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 1 0 NEW
Opened positions 1 0 NEW
Closed positions 0 1 EXIT
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 0
Total shares 1.31K 0 NEW
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Victory Capital Management 1.31K $0 NEW
Largest transactions Shares Bought/sold Change
Victory Capital Management 1.31K +1.31K NEW

Financial report summary

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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