Filings/SXTP/10-Q

Source document

EDGAR
Loading document…
KPIsSections18
Headline metrics
Revenue — GREEN$369,990+39.9% YoY
Gross margin — GREEN36.0%
Net income — GREEN-$4.6M-19.7% YoY
Net margin — GREEN-1244.6%
Operating margin — RED-1180.0%
Red flags5 red2 orange
Liquidity5
RED
Negative operating cash flowoperating_cf_burn
The company is burning cash from operations — sustainability depends on financing.
RED
Net margin -1244.6%net_margin_sharply_negative
Net income margin below -5% — profitability materially negative vs revenue.
RED
Cash conversion (CFO/Rev) -1344.2%cash_conversion_weak
CFO/Revenue below 0 — operating model not generating cash despite revenue.
RED
Cash runway ~0.2 yearscash_runway_low
At current burn rate, cash covers less than 2 years — may require near-term financing.
ORANGE
Accumulated deficit / equity 1999%accumulated_deficit_high
Accumulated deficit exceeds equity book value — balance sheet technically impaired.
Dilution · capital1
RED
SBC/Revenue 60.1%sbc_revenue_high
Stock-based compensation exceeds 25% of revenue — materially dilutive.
Concentration1
ORANGE
R&D/Revenue 237.9%rd_intensity_high
R&D exceeds 40% of revenue — sustainable only if growth trajectory justifies the investment.
Income Statement
Income Statement
MetricValueFlag
Revenue$369,990GREEN
Revenue (quarter)$207,898GREEN
Gross Margin36.0%GREEN
Operating Margin-1180.0%RED
Net Margin-1244.6%GREEN
Net Income-$4.6MGREEN
EPS (diluted)$-2.10GREEN
R&D % Revenue237.9%GREEN
Balance Sheet
Balance Sheet
MetricValueFlag
Cash$1.0MGREEN
Broad Liquidity$1.0MGREEN
Current Ratio2.32GREEN
Total Assets$4.3MGREEN
Total Equity$2.6MGREEN
Debt/Equity0.06GREEN
Cash Flow
Cash Flow
MetricValueFlag
Operating CF-$5.0MGREEN
Cash Conversion (CFO/Rev)-13.44GREEN
SBC % Revenue60.1%GREEN
Free Cash Flow-$5.0MGREEN

Sections in this filing

Financial Statements (unaudited)

ITEM 1. Consolidated Condensed Financial Statements 60 DEGREES PHARMACEUTICALS, INC. CONSOLIDATED CONDENSED BALANCE SHEETS June 30, 2026 December 31, (Unaudited) 2025 ASSETS: Current Assets: Cash and Cash Equivalents $ 1,022,606 $ 1,510,065 Accounts Receivable 567,040 509,644 Prepaid and Other Assets 1,263,706 978,131 Short-Term Investments - 1,240,721 Inventory (Note 3) 877,945 656,924 Total Current Assets 3,731,297 4,895,485 Property and Equipment, net (Note 4) 242,714 246,365 Other Assets: Intangible Assets, net (Note 5) 308,683 224,361 Total Other Assets 308,683 224,361 Total Assets $ 4,282,694 $ 5,366,211 LIABILITIES AND SHAREHOLDERS' EQUITY: Current Liabilities: Accounts Payable and Accrued Expenses (Note 6) $ 1,218,119 $ 1,459,279 SBA EIDL (including accrued interest) (Note 8) 2,003 8,772 Derivative Liabilities (Note 9) 384,973 374,741 Total Current Liabilities 1,605,095 1,842,792 Long-Term Liabilities: SBA EIDL (including accrued interest) (Note 8) 149,176 144,003 Total Long-Term Liabilities 149,176 144,003 Total Liabilities 1,754,271 1,986,795 Commitments and Contingencies (Note 12) SHAREHOLDERS' EQUITY: Series A Preferred Stock, $ 0.0001 par value, 1,000,000 shares authorized; 76,480 and 76,480 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively (Note 7) 9,567,439 9,567,439 Common Stock, $ 0.0001 par value, 150,000,000 shares authorized; 2,659,288 and 1,163,142 shares issued and outstanding as of Jun 30, 2026 and Dec 31, 2025, respectively (Note 7) 264 116 Additional Paid-in Capital 45,142,245 41,646,139 Accumulated Other Comprehensive Income 151,092 142,598 Accumulated Deficit ( 52,246,855 ) ( 47,893,115 ) 60P Shareholders’ Equity: 2,614,185 3,463,177 Noncontrolling Interest ( 85,762 ) ( 83,761 ) Total Shareholders' Equity 2,528,423 3,379,416 Total Liabilities and Shareholders' Equity $ 4,282,694 $ 5,366,211 The accompanying notes are an integral part of these unaudited consolidated condensed financial statements. 1 60 DEGREES PHARMACEUTICALS, INC. CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Product Revenues – net of Discounts and Rebates $ 207,898 $ 100,932 $ 369,990 $ 264,484 Cost of Revenues 151,100 50,051 236,815 123,323 Gross Profit 56,798 50,881 133,175 141,161 Research Revenues -