Sientra(SIEN)

Search documents
Sientra(SIEN) - 2021 Q3 - Quarterly Report
2021-11-12 21:17
Financial Performance - Net sales increased by $4.3 million, or 28.0%, to $19.6 million for the three months ended September 30, 2021, compared to $15.3 million for the same period in 2020, primarily due to increased domestic sales volume of gel implants and expanders [137]. - Gross profit for the three months ended September 30, 2021, was $10.6 million, compared to $8.2 million for the same period in 2020 [136]. - Net income for the three months ended September 30, 2021, was $28.4 million, compared to a net loss of $5.8 million for the same period in 2020 [136]. - Net sales for the nine months ended September 30, 2021, rose by $20.9 million, or 56.4%, to $58.0 million compared to $37.1 million in the same period of 2020, attributed to increased sales volume of gel implants and BioCorneum [150]. Costs and Expenses - Cost of goods sold rose by $1.9 million, or 27.1%, to $9.0 million for the three months ended September 30, 2021, compared to $7.1 million for the same period in 2020, driven by higher sales volume [139]. - Total operating expenses increased to $22.3 million for the three months ended September 30, 2021, from $17.8 million for the same period in 2020 [136]. - Loss from operations was $11.7 million for the three months ended September 30, 2021, compared to a loss of $9.5 million for the same period in 2020 [136]. - Cost of goods sold for the nine months ended September 30, 2021, increased by $10.1 million, or 63.8%, to $26.0 million, primarily due to higher sales volume and increased distribution and production costs [151]. - Research and development expenses for the nine months ended September 30, 2021, increased by $0.8 million, or 13.4%, to $7.0 million, mainly due to higher employee payroll and product development expenses [155]. - General and administrative expenses for the nine months ended September 30, 2021, rose by $2.1 million, or 10.1%, to $23.3 million, driven by increased payroll and IT system implementation costs [156]. Cash Flow and Liquidity - Net cash used in operating activities for the nine months ended September 30, 2021, was $28.6 million, a decrease from $38.4 million in the same period of 2020, reflecting improved cash management [168]. - Net cash provided by financing activities for the nine months ended September 30, 2021, was $34.3 million, compared to $31.8 million in 2020, due to increased proceeds from common stock issuance [170]. - As of September 30, 2021, the company had $66.1 million in cash and cash equivalents, indicating a stable liquidity position [165]. - The company anticipates needing to raise additional equity or debt capital to fund ongoing operating and capital needs [166]. - The company holds cash primarily in checking accounts and interest-bearing money market accounts [175]. - An immediate 100 basis point change in interest rates would not have a material effect on the fair market value of cash equivalents due to their short-term maturities [175]. - The company has established guidelines for approved investments and maturities to maintain safety and liquidity [175]. Business Operations - The company completed the sale of the miraDry business on June 10, 2021, for an aggregate purchase price of $10.0 million, resulting in net cash proceeds of approximately $8.1 million [115]. - The company has one operating segment in continuing operations named Plastic Surgery, focusing on breast implants, tissue expanders, and scar management products [112]. - The company expects future net sales to fluctuate due to seasonality of breast augmentation procedures and the ongoing impact of the COVID-19 pandemic [123]. - Facilities expansion needs are identified as a priority for future investment [175]. - Investment in inventory is required to meet customer demands [175]. Profitability Metrics - Gross margins for the three months ended September 30, 2021, increased to 54.0% from 53.6% in 2020, driven by lower unit costs of gel implants and reduced inventory reserves [140]. - Income from continuing operations before income taxes was $28.5 million for the three months ended September 30, 2021, compared to a loss of $1.5 million for the same period in 2020 [136]. - Income from discontinued operations for the nine months ended September 30, 2021, increased by $22.1 million, reflecting a strategic shift prior to the sale of the miraDry business [160].
Sientra(SIEN) - 2021 Q2 - Quarterly Report
2021-08-10 20:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-36709 SIENTRA, INC. (Exact Name of Registrant as Specified in its Charter) Delaware (State or Other Jurisdiction of Incorporatio ...
Sientra(SIEN) - 2021 Q1 - Quarterly Report
2021-05-11 20:20
OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 For the transition period from to Commission file number: 001-36709 SIENTRA, INC. (Exact Name of Registrant as Specified in its Charter) Delaware (State or Other Jurisdiction of Incorporati ...
Sientra(SIEN) - 2020 Q4 - Annual Report
2021-03-11 21:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-36709 SIENTRA, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 20-5551000 (State or Other Jurisdiction of Incorporation or Organization) 420 Sout ...