The following are recent financial reports as posted by selected Utah corporations:
Owlet
Owlet Inc., based in Lehi, reported net income of $4.1 million, or 20 cents per share, for the third quarter ended Sept. 30. That compares with a net loss of $5.6 million, or 57 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $32 million, up from $22.1 million in the year-earlier quarter.
Owlet is focused on smart infant monitoring.
“Q3 was another outstanding quarter, we believe the best in Owlet history,” Jonathan Harris, president and CEO, said in announcing the results. “Owlet set quarterly records for revenue, gross profit, operating income, and adjusted EBITDA, reflecting the momentum of the business as we leverage the first and only FDA-cleared baby monitor currently on the market and the differentiated Dream product platform to expand our market leadership. … Looking ahead, we are just beginning to layer in additional growth drivers to the core business that we believe will propel the long-term opportunity for Owlet.”
Sera
Sera Prognostics Inc., based in Salt Lake City, reported a net loss of $7.8 million for the third quarter ended Sept. 30. That compares with a loss of $7.9 million for the same quarter a year earlier.
Revenue in the most recent quarter totaled $16,000, down from $29,000 for the year-earlier quarter.
Sera Prognostics is a health diagnostics company dedicated to improving the lives of women and babies through precision pregnancy care.
“We are seeing commercial traction from the groundwork we have laid, anchored by the results from our pivotal PRIME study,” Zhenya Lindgardt, president and CEO, said in announcing the results. “These data are driving meaningful engagement with managed Medicaid and other key stakeholders, including the launch of our first Medicaid pilot in Nevada.”
Co-Diagnostics
Co-Diagnostics Inc., based in Salt Lake City, reported a net loss of $5.9 million, or 16 cents per share, for the third quarter ended Sept. 30. That compares with a loss of $9.7 million, or 32 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $145,380, down from $641,141 in the same quarter a year earlier.
Co-Diagnostics is a molecular diagnostics company with a platform for the development of molecular diagnostic tests.
“We are entering one of the most active and strategically important periods in our company’s history,” Dwight Egan, CEO, said in announcing the results. “CoMira Diagnostics, our new joint venture in the Kingdom of Saudi Arabia, establishes a strong commercial presence in the KSA and 18 additional MENA markets, expanding our international footprint and supporting the localization of advanced molecular diagnostics in one of the world’s fastest-growing health care regions.”
Lipocine
Lipocine Inc., based in Salt Lake City, reported a net loss of $3.2 million, or 59 cents per share, for the third quarter ended Sept. 30. That compares with a loss of $2.2 million, or 44 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $114,574, compared with zero revenue in the prior-year quarter.
Lipocine is a biopharmaceutical company developing drug candidates.
SINTX
SINTX Technologies Inc., based in Salt Lake City, reported a net loss of $3.5 million, or $1.19 per share, for the third quarter ended Sept. 30. That compares with a loss of $6.2 million, or $6.96 per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $208,000, down from $799,000 in the year-earlier quarter.
SINTX is an advanced ceramics and biomaterials company focused on silicon-nitride-based medical technologies.
“We have aligned SINTX squarely behind near-term commercial milestones with our advanced biomaterial products,” Eric Olson, president and CEO, said in announcing the results. “The 510(k) clearance for our SINAPTIC foot and ankle wedge system represents a pivotal milestone that validates our technology and establishes a scalable platform for future growth. We believe the decisive actions we have taken to monetize non-core assets, streamline facilities, and maintain prudent access to capital position the company to execute this strategy effectively.”