Eyenovia(EYEN)2025-05-19 21:01Revenue and Financial Performance - Revenue for Q1 2025 totaled 4,993 in Q1 2024, with cost of revenues at 203,027 respectively[83] - The company reported a net loss of 9.9 million in Q1 2024[77] - The company reported net losses of 10.9 million for the same period in 2024[91] - Other income (expense) for Q1 2025 was approximately 0.7 million in Q1 2024[88] - Net cash used in operating activities was approximately 9.9 million in the same period of 2024[93] - Net cash provided by financing activities totaled approximately 3.1 million in the same period of 2024[95] Expenses and Cost Management - Research and development expenses decreased by 85% to 4.4 million in Q1 2024, primarily due to layoffs and the wind down of clinical trials[84] - General and administrative expenses for Q1 2025 were 3.6 million in Q1 2024, reflecting cost-cutting measures[86] Financial Position and Compliance - As of March 31, 2025, the company had an accumulated deficit of approximately 9.9 million as of March 31, 2025, from 5.1 million for accounts payable and 198.8 million[91] - The company faces substantial doubt about its ability to continue as a going concern for at least one year from the date of the financial statements[92] - The company intends to submit a plan to regain compliance with Nasdaq's minimum equity requirement of 1.00 per share after a reverse stock split on January 31, 2025[75] Strategic Initiatives - The company entered into a non-binding letter of intent for a proposed business combination with Betaliq, a clinical stage pharmaceutical company focused on glaucoma[71] - The company plans to submit its Optejet user-filled device for regulatory approval in the U.S. in the second half of 2025[70] Market and Operational Risks - The ongoing "Tariff War" could adversely affect the company's supply chain and product demand, impacting financial performance[97] - The company has no off-balance sheet arrangements that could materially affect its financial conditions[100]