Tivic Health Systems Inc. (TIVC) reports earnings

The company reported a net loss of $5.7 million for the year, compared to a net loss of $8.2 million in the previous year. This decrease in net loss is attributed to reduced operating expenses.

Revenue for the year was $780,000, down from $1.2 million in 2023. The decrease in revenue was primarily due to a reduction in unit sales.

Cost of sales decreased to $778,000, reflecting a 12% reduction compared to the previous year's cost of $889,000. This decrease was mainly due to a reduction in sales volume.

Tivic Health's operating expenses were $5.7 million, down from $8.5 million in 2023. The reduction in operating expenses was driven by decreased sales and marketing expenses and general and administrative expenses.

Research and development expenses were $1.3 million, a decrease from $1.7 million in the previous year. This decrease was primarily due to reduced compensation costs and non-recurring expenses from 2023.

Sales and marketing expenses decreased to $1.2 million from $2.1 million in 2023, as a result of reduced advertising spend and lower headcount.

General and administrative expenses were $3.2 million, down from $4.8 million in 2023, due to reduced headcount, lower consulting fees, and decreased insurance costs.

The company ended the year with $2.0 million in cash and cash equivalents, compared to $3.4 million at the end of 2023. Tivic Health's working capital was $2.4 million as of December 31, 2024.

Tivic Health has identified a material weakness in its internal control over financial reporting due to the small size of its accounting and financial reporting team.

The company has announced a reverse stock split of 1-for-17, effective March 7, 2025, to regain compliance with Nasdaq $NDAQ's listing requirements.

This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Tivic Health Systems Inc. annual 10-K report dated March 21, 2025. To report an error, please email [email protected].