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10-Q Filing

ESTABLISHMENT LABS HOLDINGS INC. CIK: 1688757 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001688757-22-000041
Period End Date 20220331
Filing Date 20220510
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance esta-20220331_htm.xml
Balance Sheet 66 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $1.32M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $1.22M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 24.60M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 24.49M shares Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 24.19M shares Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 24.08M shares Point-in-time
Cash Cash $44.66M USD Point-in-time
Cash Cash $53.41M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,317 and $1,221 AccountsReceivableNetCurrent $29.69M USD Point-in-time
Treasury stock, shares held (in shares) TreasuryStockShares 408,070.00 shares Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,317 and $1,221 AccountsReceivableNetCurrent $24.44M USD Point-in-time
Treasury stock, shares held (in shares) TreasuryStockShares 408,070.00 shares Point-in-time
Inventory, net InventoryNet $28.41M USD Point-in-time
Inventory, net InventoryNet $28.54M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $7.01M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $7.13M USD Point-in-time
Total current assets AssetsCurrent $113.27M USD Point-in-time
Total current assets AssetsCurrent $110.02M USD Point-in-time
Property and equipment, net of accumulated depreciation PropertyPlantAndEquipmentNet $23.30M USD Point-in-time
Property and equipment, net of accumulated depreciation PropertyPlantAndEquipmentNet $18.66M USD Point-in-time
Goodwill Goodwill $465.00K USD Point-in-time
Goodwill Goodwill $465.00K USD Point-in-time
Intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $4.37M USD Point-in-time
Intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $4.47M USD Point-in-time
Right-of-use operating lease assets, net OperatingLeaseRightOfUseAsset $2.21M USD Point-in-time
Right-of-use operating lease assets, net OperatingLeaseRightOfUseAsset $2.11M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $1.19M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $558.00K USD Point-in-time
Total assets Assets $139.53M USD Point-in-time
Total assets Assets $141.56M USD Point-in-time
Accounts payable AccountsPayableCurrent $16.65M USD Point-in-time
Accounts payable AccountsPayableCurrent $14.47M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $16.24M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $18.06M USD Point-in-time
Other liabilities, short-term OtherLiabilitiesCurrent $1.18M USD Point-in-time
Other liabilities, short-term OtherLiabilitiesCurrent $1.80M USD Point-in-time
Total current liabilities LiabilitiesCurrent $36.51M USD Point-in-time
Total current liabilities LiabilitiesCurrent $31.89M USD Point-in-time
Note payable, Madryn, net of debt discount and issuance costs LongTermDebtNoncurrent $52.49M USD Point-in-time
Note payable, Madryn, net of debt discount and issuance costs LongTermDebtNoncurrent $51.91M USD Point-in-time
Madryn put option DerivativeLiabilitiesNoncurrent $1.10M USD Point-in-time
Madryn put option DerivativeLiabilitiesNoncurrent $703.00K USD Point-in-time
Operating lease liabilities, non-current OperatingLeaseLiabilityNoncurrent $1.90M USD Point-in-time
Operating lease liabilities, non-current OperatingLeaseLiabilityNoncurrent $1.80M USD Point-in-time
Other liabilities, long-term OtherLiabilitiesNoncurrent $1.82M USD Point-in-time
Other liabilities, long-term OtherLiabilitiesNoncurrent $2.39M USD Point-in-time
Total liabilities Liabilities $93.72M USD Point-in-time
Total liabilities Liabilities $88.79M USD Point-in-time
Commitments and contingencies (Note 13) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 13) CommitmentsAndContingencies - USD Point-in-time
Common shares - zero par value, unlimited amount authorized; 24,602,156 and 24,488,335 shares issued at March 31, 2022 and December 31, 2021, respectively; 24,194,086 and 24,080,265 shares outstanding at March 31, 2022 and December 31, 2021, respectively CommonStockValue $221.44M USD Point-in-time
Common shares - zero par value, unlimited amount authorized; 24,602,156 and 24,488,335 shares issued at March 31, 2022 and December 31, 2021, respectively; 24,194,086 and 24,080,265 shares outstanding at March 31, 2022 and December 31, 2021, respectively CommonStockValue $219.74M USD Point-in-time
Additional paid-in-capital AdditionalPaidInCapital $36.58M USD Point-in-time
Additional paid-in-capital AdditionalPaidInCapital $40.02M USD Point-in-time
Treasury shares, at cost, 408,070 shares held at March 31, 2022 and December 31, 2021 TreasuryStockValue $2.85M USD Point-in-time
Treasury shares, at cost, 408,070 shares held at March 31, 2022 and December 31, 2021 TreasuryStockValue $2.85M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-212.32M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-206.38M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $1.55M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $3.66M USD Point-in-time
Total shareholders equity StockholdersEquity $74.96M USD Point-in-time
Total shareholders equity StockholdersEquity $72.55M USD Point-in-time
Total shareholders equity StockholdersEquity $50.74M USD Point-in-time
Total shareholders equity StockholdersEquity $47.84M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $139.53M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $141.56M USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $30.34M USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $38.45M USD 1 Quarter
Cost of revenue CostOfRevenue $13.52M USD 1 Quarter
Cost of revenue CostOfRevenue $10.25M USD 1 Quarter
Gross profit GrossProfit $20.09M USD 1 Quarter
Gross profit GrossProfit $24.94M USD 1 Quarter
Sales, general and administrative SellingGeneralAndAdministrativeExpense $18.14M USD 1 Quarter
Sales, general and administrative SellingGeneralAndAdministrativeExpense $26.91M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $3.60M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $4.05M USD 1 Quarter
Total operating expenses OperatingExpenses $30.51M USD 1 Quarter
Total operating expenses OperatingExpenses $22.19M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-5.58M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-2.10M USD 1 Quarter
Interest income InvestmentIncomeInterest $20.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $4.00K USD 1 Quarter
Interest expense InterestExpense $2.19M USD 1 Quarter
Interest expense InterestExpense $2.29M USD 1 Quarter
Change in fair value of derivative instruments GainLossOnDerivativeInstrumentsNetPretax $230.00K USD 1 Quarter
Change in fair value of derivative instruments GainLossOnDerivativeInstrumentsNetPretax $-396.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-2.73M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $2.71M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-6.78M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-5.53M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $165.00K USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $399.00K USD 1 Quarter
Net loss NetIncomeLoss $-5.93M USD 1 Quarter
Net loss NetIncomeLoss $-6.95M USD 1 Quarter
Basic net loss per share (in dollars per share) EarningsPerShareBasic $-0.29 USD 1 Quarter
Basic net loss per share (in dollars per share) EarningsPerShareBasic $-0.24 USD 1 Quarter
Diluted net loss per share (in dollars per share) EarningsPerShareDiluted $-0.29 USD 1 Quarter
Diluted net loss per share (in dollars per share) EarningsPerShareDiluted $-0.24 USD 1 Quarter
Weighted average outstanding shares used for basic net loss per share (in shares) WeightedAverageNumberOfSharesOutstandingBasic 23.83M shares 1 Quarter
Weighted average outstanding shares used for basic net loss per share (in shares) WeightedAverageNumberOfSharesOutstandingBasic 24.31M shares 1 Quarter
Weighted average outstanding shares used for diluted net loss per share (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 24.31M shares 1 Quarter
Weighted average outstanding shares used for diluted net loss per share (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 23.83M shares 1 Quarter
Cash Flow Statement 76 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-5.93M USD 1 Quarter
Net loss NetIncomeLoss $-6.95M USD 1 Quarter
Depreciation and amortization DepreciationandAmortizationExcludingDebtDiscountPremium $908.00K USD 1 Quarter
Depreciation and amortization DepreciationandAmortizationExcludingDebtDiscountPremium $953.00K USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $69.00K USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $6.00K USD 1 Quarter
Provision for inventory obsolescence InventoryWriteDown $93.00K USD 1 Quarter
Provision for inventory obsolescence InventoryWriteDown $1.42M USD 1 Quarter
Share-based compensation ShareBasedCompensation $3.43M USD 1 Quarter
Share-based compensation ShareBasedCompensation $1.76M USD 1 Quarter
Loss from disposal of property and equipment GainLossOnSaleOfPropertyPlantEquipment $-20.00K USD 1 Quarter
Loss from disposal of property and equipment GainLossOnSaleOfPropertyPlantEquipment $-59.00K USD 1 Quarter
Unrealized foreign currency (gain)/ loss, net ForeignCurrencyTransactionGainLossUnrealized $2.89M USD 1 Quarter
Unrealized foreign currency (gain)/ loss, net ForeignCurrencyTransactionGainLossUnrealized $-3.03M USD 1 Quarter
Amortization of right-to-use asset OperatingLeaseRightOfUseAssetAmortizationExpense $95.00K USD 1 Quarter
Amortization of right-to-use asset OperatingLeaseRightOfUseAssetAmortizationExpense $101.00K USD 1 Quarter
Change in fair value of derivative instruments UnrealizedGainLossOnDerivatives $230.00K USD 1 Quarter
Change in fair value of derivative instruments UnrealizedGainLossOnDerivatives $-396.00K USD 1 Quarter
Amortization of debt discount AmortizationOfFinancingCostsAndDiscounts $474.00K USD 1 Quarter
Amortization of debt discount AmortizationOfFinancingCostsAndDiscounts $580.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $5.22M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $5.07M USD 1 Quarter
Inventory IncreaseDecreaseInInventories $698.00K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $909.00K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-69.00K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-1.22M USD 1 Quarter
Other assets IncreaseDecreaseInOtherNoncurrentAssets $636.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherNoncurrentAssets $-26.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $2.02M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-617.00K USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-158.00K USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $1.77M USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiabilities $-91.00K USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiabilities $-95.00K USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-181.00K USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-221.00K USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-4.84M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-6.55M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $804.00K USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $798.00K USD 1 Quarter
Cash used in asset acquisitions PaymentstoAcquireAssetsIncludingReceivablesHeld $434.00K USD 1 Quarter
Cash used in asset acquisitions PaymentstoAcquireAssetsIncludingReceivablesHeld - USD 1 Quarter
Cost incurred for intangible assets PaymentsToAcquireIntangibleAssets $390.00K USD 1 Quarter
Cost incurred for intangible assets PaymentsToAcquireIntangibleAssets $294.00K USD 1 Quarter
Capital expenditures on construction in progress PaymentsToAcquireOtherProductiveAssets - USD 1 Quarter
Capital expenditures on construction in progress PaymentsToAcquireOtherProductiveAssets $4.55M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-5.74M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-1.53M USD 1 Quarter
Repayments on finance leases FinanceLeasePrincipalPayments $55.00K USD 1 Quarter
Repayments on finance leases FinanceLeasePrincipalPayments $7.00K USD 1 Quarter
Proceeds from stock option exercises ProceedsFromStockOptionsExercised $1.88M USD 1 Quarter
Proceeds from stock option exercises ProceedsFromStockOptionsExercised $1.70M USD 1 Quarter
Tax payments related to shares withheld upon vesting of restricted stock PaymentsRelatedToTaxWithholdingForShareBasedCompensation $41.00K USD 1 Quarter
Tax payments related to shares withheld upon vesting of restricted stock PaymentsRelatedToTaxWithholdingForShareBasedCompensation - USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.70M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.79M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-273.00K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $125.00K USD 1 Quarter
Net decrease in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-6.57M USD 1 Quarter
Net decrease in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-8.76M USD 1 Quarter
Cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $44.66M USD Point-in-time
Cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $84.52M USD Point-in-time
Cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $77.95M USD Point-in-time
Cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $53.41M USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $44.66M USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $84.52M USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $77.95M USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $53.41M USD Point-in-time
Cash paid for interest InterestPaidNet $1.71M USD 1 Quarter
Cash paid for interest InterestPaidNet $1.71M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $159.00K USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $10.00K USD 1 Quarter
Unpaid balance for property and equipment CapitalExpendituresIncurredButNotYetPaid $51.00K USD 1 Quarter
Unpaid balance for property and equipment CapitalExpendituresIncurredButNotYetPaid $143.00K USD 1 Quarter
Consideration payable related to asset acquisition NoncashConsiderationPayableRelatedtoAssetAcquisition $407.00K USD 1 Quarter
Consideration payable related to asset acquisition NoncashConsiderationPayableRelatedtoAssetAcquisition $536.00K USD 1 Quarter
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $74.96M USD Point-in-time
Beginning balance StockholdersEquity $72.55M USD Point-in-time
Beginning balance StockholdersEquity $50.74M USD Point-in-time
Beginning balance StockholdersEquity $47.84M USD Point-in-time
Stock option exercises (in shares) StockIssuedDuringPeriodSharesStockOptionsExercised 113,821.00 shares 1 Quarter
Stock option exercises StockIssuedDuringPeriodValueStockOptionsExercised $1.70M USD 1 Quarter
Stock option exercises StockIssuedDuringPeriodValueStockOptionsExercised $1.88M USD 1 Quarter
Share-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $1.76M USD 1 Quarter
Share-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $3.43M USD 1 Quarter
Shares withheld to cover income tax obligation upon vesting of restricted stock AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $41.00K USD 1 Quarter
Foreign currency translation gain (loss) OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $941.00K USD 1 Quarter
Foreign currency translation gain (loss) OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-2.11M USD 1 Quarter
Net loss NetIncomeLoss $-5.93M USD 1 Quarter
Net loss NetIncomeLoss $-6.95M USD 1 Quarter
Ending balance StockholdersEquity $74.96M USD Point-in-time
Ending balance StockholdersEquity $72.55M USD Point-in-time
Ending balance StockholdersEquity $50.74M USD Point-in-time
Ending balance StockholdersEquity $47.84M USD Point-in-time
Comprehensive Income 8 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-5.93M USD 1 Quarter
Net loss NetIncomeLoss $-6.95M USD 1 Quarter
Foreign currency translation gain (loss) OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $941.00K USD 1 Quarter
Foreign currency translation gain (loss) OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-2.11M USD 1 Quarter
Other comprehensive gain (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $941.00K USD 1 Quarter
Other comprehensive gain (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-2.11M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-6.01M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-8.04M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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