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EMMA — Emmaus Life Sciences News Story

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Emmaus Life Sciences Q3 revenue falls 38%, swings to loss

Overview

Emmaus Life Sciences Q3 revenue falls 38% yr/yr due to competition from generics and lower MENA sales

Net loss of $2.1 mln compared to net income of $1.8 mln last year, primarily due to higher other expenses

Operating expenses reduced by 43% due to cost-cutting measures

Outlook

Company did not provide specific guidance for future quarters or full-year metrics

Result Drivers

REVENUES - Decline attributed to competition from generic L-Glutamine in the U.S. and decrease in MENA region sales attributed to timing of sales

OTHER EXPENSES - Company recorded other expense of $2.2 mln due to lower fair value of conversion feature derivative liabilities, increased interest expense and loss on debt extinguishment

COST CUTTING - 43% reduction in operating expenses due to cost-cutting measures

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 Revenue$3.38 mln
Q3 EPS-$0.03
Q3 Net Income-$2.08 mln
Q3 Gross Profit$3.13 mln
Q3 Income from Operations$695,000
Q3 Operating Expenses$2.44 mln
Press Release: ID:nPn66K2HRa For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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