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Rafael(RFL) - 2025 Q1 - Quarterly Results
RFLRafael(RFL)2024-12-11 12:07

Financial Performance - For Q4 FY 2024, the company recorded a net loss from continuing operations of 4.5million,or4.5 million, or 0.19 per diluted share, compared to a net gain of 1.3million,or1.3 million, or 0.06 per diluted share, in the same period last year [3]. - For the full fiscal year 2024, the net loss from continuing operations was 34.4million,or34.4 million, or 1.45 per diluted share, compared to a net loss of 8.4million,or8.4 million, or 0.36 per diluted share, in the prior year [6]. - Consolidated net loss from continuing operations was (4,854),comparedtoaprofitof(4,854), compared to a profit of 1,256 in July 2023, marking a substantial decline [14]. - The net loss attributable to Rafael Holdings, Inc. was (4,468),comparedtoaprofitof(4,468), compared to a profit of 1,163 in July 2023, showing a significant downturn [14]. Revenue and Expenses - Revenues for July 2024 reached 165,000,comparedto165,000, compared to 68,000 in July 2023, representing a significant increase of 142.65% year-over-year [14]. - Research and development expenses for Q4 FY 2024 were 1.5million,upfrom1.5 million, up from 1.3 million in the same period last year, attributed to activities at Cornerstone and Day Three Labs [4]. - General and administrative expenses for Q4 FY 2024 were 2.3million,anincreasefrom2.3 million, an increase from 1.4 million in the prior year, primarily due to additional expenses from Cornerstone and Day Three Labs [5]. - Research and Development (R&D) expenses decreased to 1,543from1,543 from 1,266, reflecting a reduction of 21.76% year-over-year [14]. - General and Administrative (G&A) expenses increased to 2,330from2,330 from 1,395, reflecting a rise of 67.03% year-over-year [14]. Assets and Equity - As of July 31, 2024, Rafael Holdings reported cash, cash equivalents, and marketable securities totaling 65.9million[3].−TotalassetsasofJuly31,2024,werereportedat65.9 million [3]. - Total assets as of July 31, 2024, were reported at 96.8 million, a decrease from 98.8millioninthepreviousyear[12].−TotalequityattributabletoRafaelHoldingsdecreasedto98.8 million in the previous year [12]. - Total equity attributable to Rafael Holdings decreased to 82.2 million from 100.3millionyear−over−year[13].InvestmentsandAcquisitions−Thecompanyincurredanin−processresearchanddevelopmentexpenseof100.3 million year-over-year [13]. Investments and Acquisitions - The company incurred an in-process research and development expense of 89.9 million related to the Cornerstone acquisition during FY 2024 [6]. - Rafael Holdings holds a majority interest of 84% in Day Three Labs following an increased investment during FY 2024 [6]. - The merger with Cyclo Therapeutics is expected to close in the coming months, with pivotal Phase 3 study results for Trappsol Cyclo™ anticipated in mid-2025 [2]. Investment Performance - Interest income for the period was 606,downfrom606, down from 2,383 in the previous year, a decrease of 74.6% [14]. - The company reported a realized gain on available-for-sale securities of 251,comparedtonogaininthesameperiodlastyear[14].−Unrealizedgainoninvestmentinequitysecuritieswas251, compared to no gain in the same period last year [14]. - Unrealized gain on investment in equity securities was 1,191, consistent with the previous year, indicating stable investment performance [14].