Income Statement Polarean Imaging plc

Equities

POLX

GB00BF3DT583

Advanced Medical Equipment & Technology

Market Closed - London S.E. Other stock markets 11:35:13 2024-09-17 EDT			5-day change	1st Jan Change
1.575 ^GBX	-1.56%		0.00%	-74.80%

09-04	EARNINGS: Gulf Marine backs outlook; Ecora swings to profit	AN
09-04	Earnings Flash (POLX.L) POLAREAN IMAGING Posts H1 Revenue $1.1M	MT

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Published financial data: POLAREAN IMAGING PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	2.3M	1.06M	1.19M	1.03M	891K
Total Revenues	2.3M	1.06M	1.19M	1.03M	891K
Cost of Goods Sold, Total	926K	346K	677K	685K	555K
Gross Profit	1.38M	710K	508K	348K	335K
Selling General & Admin Expenses, Total	6.64M	6.44M	13.89M	11.78M	6.9M
Stock-Based Compensation (IS)	-	-	-	1.21M	860K
R&D Expenses	-	-	-	-	4.19M
Depreciation & Amortization - (IS)	63.12K	150K	177K	277K	209K
Amortization of Goodwill and Intangible Assets - (IS)	684K	734K	757K	761K	728K
Other Operating Expenses, Total	7.39M	7.33M	14.82M	14.02M	12.89M
Operating Income	-6.01M	-6.62M	-14.32M	-13.67M	-12.56M
Interest Expense, Total	-91.68K	-19.73K	-21.1K	-23.76K	-15.99K
Interest And Investment Income	508	101K	2.59K	35.04K	299K
Net Interest Expenses	-91.17K	81.04K	-18.51K	11.28K	283K
Currency Exchange Gains (Loss)	-	-	319K	-246K	388K
Other Non Operating Income (Expenses)	-	-1	-	-	-
EBT, Excl. Unusual Items	-6.1M	-6.53M	-14.02M	-13.91M	-11.88M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	-6.1M	-6.53M	-14.02M	-13.91M	-11.88M
Earnings From Continuing Operations	-6.1M	-6.53M	-14.02M	-13.91M	-11.88M
Net Income to Company	-6.1M	-6.53M	-14.02M	-13.91M	-11.88M
Net Income - (IS)	-6.1M	-6.53M	-14.02M	-13.91M	-11.88M
Net Income to Common Incl Extra Items	-6.1M	-6.53M	-14.02M	-13.91M	-11.88M
Net Income to Common Excl. Extra Items	-6.1M	-6.53M	-14.02M	-13.91M	-11.88M
Per Share Items
Net EPS - Basic	-0.06	-0.04	-0.07	-0.07	-0.06
Basic EPS - Continuing Operations	-0.06	-0.04	-0.07	-0.07	-0.06
Basic Weighted Average Shares Outstanding	107M	150M	197M	212M	214M
Net EPS - Diluted	-0.06	-0.04	-0.07	-0.07	-0.06
Diluted EPS - Continuing Operations	-0.06	-0.04	-0.07	-0.07	-0.06
Diluted Weighted Average Shares Outstanding	107M	150M	197M	212M	214M
Normalized Basic EPS	-0.04	-0.03	-0.04	-0.04	-0.03
Normalized Diluted EPS	-0.04	-0.03	-0.04	-0.04	-0.03
Supplemental Items
EBITDA	-5.33M	-5.85M	-13.52M	-12.78M	-11.74M
EBITA	-5.4M	-6M	-13.7M	-13.06M	-11.94M
EBIT	-6.01M	-6.62M	-14.32M	-13.67M	-12.56M
EBITDAR	-	-	-	-	-
Normalized Net Income	-3.81M	-4.08M	-8.76M	-8.69M	-7.43M
Interest on Long-Term Debt	16K	19.73K	21.1K	23.76K	15.99K
Supplemental Operating Expense Items
Marketing Expenses	-	-	-	135K	257K
Selling and Marketing Expenses	325K	918K	5.56M	3.31M	3.56M
General and Administrative Expenses	6.32M	5.52M	8.33M	8.46M	3.34M
Research And Development Expense From Footnotes	155K	451K	650K	619K	1.75M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., G&A Exp. (Total)	306K	475K	1.81M	-	-
Stock-Based Comp., Other (Total)	-	-	-	1.21M	860K
Total Stock-Based Compensation	306K	475K	1.81M	1.21M	860K

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.96M	6.28M	28.87M	16.45M	6.17M
Total Cash And Short Term Investments	1.96M	6.28M	28.87M	16.45M	6.17M
Accounts Receivable, Total	454K	185K	119K	109K	357K
Other Receivables	97.4K	51.18K	-	-	12.86K
Notes Receivable	-	-	-	-	-
Total Receivables	551K	237K	119K	109K	370K
Inventory	554K	978K	1.43M	1.71M	2.22M
Prepaid Expenses	84.94K	111K	852K	1.55M	315K
Other Current Assets, Total	620	-	-	-	-
Total Current Assets	3.15M	7.61M	31.27M	19.83M	9.08M
Gross Property Plant And Equipment	629K	698K	1.48M	1.39M	1.35M
Accumulated Depreciation	-174K	-242K	-419K	-694K	-903K
Net Property Plant And Equipment	454K	455K	1.06M	693K	447K
Other Intangibles, Total	3.43M	2.81M	2.19M	1.58M	969K
Other Long-Term Assets, Total	5.54K	5.54K	5.54K	438K	388K
Total Assets	7.04M	10.88M	34.53M	22.54M	10.88M
Liabilities
Accounts Payable, Total	660K	388K	406K	597K	324K
Accrued Expenses, Total	1.11M	961K	1.33M	1.38M	1.51M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	70.91K	130K	131K	142K	142K
Unearned Revenue Current, Total	46.32K	40.76K	109K	89.72K	229K
Other Current Liabilities	-	1	-	-	-
Total Current Liabilities	1.89M	1.52M	1.97M	2.21M	2.2M
Long-Term Leases	50.46K	91.61K	359K	217K	74.85K
Unearned Revenue Non Current	193K	220K	146K	129K	67.03K
Other Non Current Liabilities	316K	316K	316K	676K	240K
Total Liabilities	2.45M	2.15M	2.79M	3.23M	2.58M
Common Stock, Total	55.78K	78.2K	102K	103K	105K
Additional Paid In Capital	13.66M	23.84M	59.02M	59.29M	59.31M
Retained Earnings	-18.31M	-24.84M	-38.86M	-52.77M	-64.65M
Comprehensive Income and Other	9.18M	9.66M	11.47M	12.68M	13.54M
Total Common Equity	4.59M	8.73M	31.74M	19.3M	8.3M
Total Equity	4.59M	8.73M	31.74M	19.3M	8.3M
Total Liabilities And Equity	7.04M	10.88M	34.53M	22.54M	10.88M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	162M	209M	212M	213M	1.21B
ECS Total Common Shares Outstanding	114M	163M	209M	213M	216M
Book Value / Share	0.04	0.05	0.15	0.09	0.04
Tangible Book Value	1.16M	5.92M	29.54M	17.72M	7.33M
Tangible Book Value Per Share	0.01	0.04	0.14	0.08	0.03
Total Debt	121K	221K	490K	359K	217K
Net Debt	-1.84M	-6.06M	-28.39M	-16.1M	-5.95M
Debt Equivalent Oper. Leases	-	-	-	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	554K	978K	1.43M	-	-
Machinery, Total	461K	500K	1.02M	1.08M	1.16M
Full Time Employees	19	21	28	28	29

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-6.1M	-6.53M	-14.02M	-13.91M	-11.88M
Depreciation & Amortization - CF	130K	267K	318K	426K	325K
Amortization of Goodwill and Intangible Assets - (CF)	617K	617K	617K	612K	612K
Depreciation & Amortization, Total	747K	884K	934K	1.04M	937K
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-	-	590	2.77K	-
Asset Writedown & Restructuring Costs	-	-	11.66K	-	-
Stock-Based Compensation (CF)	306K	475K	1.81M	1.21M	860K
Other Operating Activities, Total	91.17K	-81.04K	-300K	235K	-671K
Change In Accounts Receivable	-14.74K	288K	-623K	-1.12M	1.02M
Change In Inventories	97.57K	-423K	-449K	-285K	-510K
Change In Accounts Payable	-285K	-425K	382K	608K	-267K
Change in Unearned Revenues	596K	21.58K	-5.98K	-36.31K	77.48K
Cash from Operations	-4.57M	-5.79M	-12.25M	-12.26M	-10.43M
Capital Expenditure	-401K	-65.53K	-541K	-63.95K	-78.92K
Other Investing Activities, Total	-	-	-	-	299K
Cash from Investing	-401K	-65.53K	-541K	-63.95K	220K
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-69.99K	-103K	-122K	-131K	-142K
Total Debt Repaid	-69.99K	-103K	-122K	-131K	-142K
Issuance of Common Stock	6.37M	10.73M	37.31M	267K	18.09K
Issuance of Preferred Stock	-	-	-	-	-
Other Financing Activities, Total	-251K	-442K	-1.8M	11.28K	-15.99K
Cash from Financing	6.05M	10.18M	35.38M	148K	-140K
Foreign Exchange Rate Adjustments	-	-	-	-246K	72.45K
Net Change in Cash	1.09M	4.32M	22.59M	-12.42M	-10.28M
Supplemental Items
Cash Interest Paid	91.68K	19.73K	21.1K	23.76K	15.99K
Levered Free Cash Flow	698K	-3.42M	-7.37M	-7.12M	-5.68M
Unlevered Free Cash Flow	756K	-3.41M	-7.36M	-7.11M	-5.67M
Change In Net Working Capital	-3.86M	565K	621K	745K	-456K
Net Debt Issued / Repaid	-69.99K	-103K	-122K	-131K	-142K

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-44.55	-46.15	-39.41	-29.94	-46.96
Return on Total Capital	-60.08	-60.51	-43.45	-32.93	-55.7
Return On Equity %	-98.59	-98.09	-69.26	-54.49	-86.11
Return on Common Equity	-98.59	-98.09	-69.26	-54.49	-86.11
Margin Analysis
Gross Profit Margin %	59.78	67.23	42.86	33.71	37.66
SG&A Margin	288.59	609.57	1.17K	1.14K	774.5
EBITDA Margin %	-231.72	-553.43	-1.14K	-1.24K	-1.32K
EBITA Margin %	-234.47	-567.65	-1.16K	-1.26K	-1.34K
EBIT Margin %	-261.27	-626.02	-1.21K	-1.32K	-1.41K
Income From Continuing Operations Margin %	-265.24	-618.35	-1.18K	-1.35K	-1.33K
Net Income Margin %	-265.24	-618.35	-1.18K	-1.35K	-1.33K
Net Avail. For Common Margin %	-265.24	-618.35	-1.18K	-1.35K	-1.33K
Normalized Net Income Margin	-165.77	-386.47	-738.97	-841.33	-833.73
Levered Free Cash Flow Margin	30.35	-323.52	-622.1	-689.64	-637.9
Unlevered Free Cash Flow Margin	32.84	-322.35	-620.98	-688.21	-636.78
Asset Turnover
Asset Turnover	0.27	0.12	0.05	0.04	0.05
Fixed Assets Turnover	9.75	2.32	1.57	1.18	1.56
Receivables Turnover (Average Receivables)	7.42	3.31	7.78	9.04	3.82
Inventory Turnover (Average Inventory)	1.54	0.45	0.56	0.44	0.28
Short Term Liquidity
Current Ratio	1.67	5.01	15.87	8.97	4.12
Quick Ratio	1.33	4.29	14.71	7.49	2.97
Operating Cash Flow to Current Liabilities	-2.41	-3.81	-6.22	-5.54	-4.74
Days Sales Outstanding (Average Receivables)	49.18	110.71	46.89	40.37	95.5
Days Outstanding Inventory (Average Inventory)	237.78	809.65	647.86	836.42	1.29K
Average Days Payable Outstanding	237.5	249.13	128.65	188.9	157.68
Cash Conversion Cycle (Average Days)	49.46	671.22	566.1	687.9	1.23K
Long Term Solvency
Total Debt/Equity	2.64	2.54	1.54	1.86	2.61
Total Debt / Total Capital	2.58	2.47	1.52	1.82	2.54
LT Debt/Equity	1.1	1.05	1.13	1.12	0.9
Long-Term Debt / Total Capital	1.07	1.02	1.11	1.1	0.88
Total Liabilities / Total Assets	34.8	19.73	8.08	14.34	23.75
EBIT / Interest Expense	-65.58	-335.3	-678.47	-575.31	-785.25
EBITDA / Interest Expense	-57.43	-290.49	-634.19	-531.62	-726.64
(EBITDA - Capex) / Interest Expense	-61.81	-293.81	-659.85	-534.31	-731.57
Total Debt / EBITDA	-0.02	-0.04	-0.04	-0.03	-0.02
Net Debt / EBITDA	0.35	1.06	2.12	1.27	0.51
Total Debt / (EBITDA - Capex)	-0.02	-0.04	-0.04	-0.03	-0.02
Net Debt / (EBITDA - Capex)	0.32	1.05	2.04	1.27	0.51
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-5.66	-54.08	12.17	-12.86	-13.75
Gross Profit, 1 Yr. Growth %	-23.82	-48.35	-28.49	-31.45	-3.67
EBITDA, 1 Yr. Growth %	14.92	9.68	131.21	-5.48	-8.18
EBITA, 1 Yr. Growth %	16.03	11.18	128.38	-4.68	-8.53
EBIT, 1 Yr. Growth %	14.15	10.04	116.41	-4.51	-8.15
Earnings From Cont. Operations, 1 Yr. Growth %	11.89	7.06	114.49	-0.79	-14.53
Net Income, 1 Yr. Growth %	11.89	7.06	114.49	-0.79	-14.53
Normalized Net Income, 1 Yr. Growth %	11.89	7.06	114.49	-0.79	-14.53
Diluted EPS Before Extra, 1 Yr. Growth %	-26.89	-23.59	63.34	-7.8	-15.46
Accounts Receivable, 1 Yr. Growth %	172.93	-59.13	-35.79	-8.14	226.17
Inventory, 1 Yr. Growth %	-14.97	76.45	45.9	19.95	29.82
Net Property, Plant and Equip., 1 Yr. Growth %	2.46K	0.28	132.2	-34.49	-35.51
Total Assets, 1 Yr. Growth %	-28.37	54.55	217.36	-34.73	-51.71
Tangible Book Value, 1 Yr. Growth %	-68.97	409.46	398.83	-40.01	-58.65
Common Equity, 1 Yr. Growth %	-41.09	90.27	263.41	-39.17	-57.01
Cash From Operations, 1 Yr. Growth %	-2.37	26.92	111.41	0.06	-14.87
Capital Expenditures, 1 Yr. Growth %	6.03K	-83.67	726.26	-88.19	23.41
Levered Free Cash Flow, 1 Yr. Growth %