$RNLXY

Renalytix plc

CIK:0001811115|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue	$ 522	$ 459
Cost of revenue	422	502
Gross profit (loss)	100	(43)
Operating expenses:
Research and development	921	2,787
General and administrative	3,271	6,059
Total operating expenses	4,192	8,846
Loss from operations	(4,093)	(8,889)
Foreign currency gain, net	37	289
Fair value adjustment to VericiDx investment	97	(447)
Fair value adjustment to convertible notes	(762)	(1,207)
Other (expense) income, net	(5)	100
Net loss before income taxes	(4,726)	(10,154)
Income tax expense	(2)	0
Net loss	$ (4,728)	$ (10,154)
Net loss per ordinary share - basic	$ (0.04)	$ (0.11)
Net loss per ordinary share - diluted	$ (0.04)	$ (0.11)
Weighted average ordinary shares - basic	105,697,401	94,767,841
Weighted average ordinary shares - diluted	105,697,401	94,767,841
Other comprehensive income (loss):
Changes in the fair value of the convertible notes	$ (125)	$ 75
Foreign exchange translation adjustment	(461)	42
Comprehensive loss	$ (5,314)	$ (10,037)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net Income (Loss)	$ (4,728)	$ (10,154)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	60	127
Stock-based compensation	254	523
Fair value adjustment to VericiDx investment	(97)	447
Realized loss on sale of ordinary shares in VericiDx	42	0
Realized foreign exchange gain	(18)	0
Fair value adjustment to convertible debt, net interest paid	762	945
Non cash lease expense	0	28
Provision for credit losses	(25)	0
Changes in operating assets and liabilities:
Accounts receivable	(154)	(238)
Prepaid expenses and other current assets	(327)	(153)
Accounts payable	1,550	250
Accounts payable - related party	1,390	202
Accrued expenses and other current liabilities	(1,312)	(2,060)
Accrued expenses - related party	(1,233)	579
Net cash used in operating activities	(3,836)	(9,504)
Cash flows from investing activities:
Sale of ordinary shares in VericiDx investment	23	0
Net cash provided by investing activities	23	0
Cash flows from financing activities:
Payment of convertible notes principal	0	(1,060)
Payment of offering costs	0	(5)
Net cash used by financing activities	0	(1,065)
Effect of exchange rate changes on cash	42	(222)
Net decrease in cash and cash equivalents	(3,771)	(10,791)
Cash and cash equivalents, beginning of period	4,680	24,682
Cash and cash equivalents, end of period	909	13,891
Supplemental noncash investing and financing activities:
Noncash lease liabilities arising from obtaining right-of-use assets	0	4
Cash paid for interest on convertible debt	0	249
Issuance of shares for debt repayment	$ (1,588)	$ (1,054)

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Current assets:
Cash and cash equivalents	$ 909	$ 4,680
Accounts receivable, net	902	722
Prepaid expenses and other current assets	1,068	716
Total current assets	2,879	6,118
Property and equipment, net	202	216
Investment in VericiDx	776	698
Other assets, net	937	940
Total assets	4,794	7,972
Current liabilities:
Accrued expenses and other current liabilities	2,162	3,354
Accrued expenses - related party	102	1,329
Current lease liability	11	45
Convertible notes-current	4,142	4,159
Total current liabilities	12,013	11,495
Convertible notes-noncurrent	4,100	4,331
Total liabilities	16,113	15,826
Commitments and contingencies (Note 10)
Shareholders' deficit:
Ordinary shares, 0.0025 par value per share: 173,841,695 shares authorized; 165,925,513 and 154,368,191 shares issued and outstanding at September 30, 2024 and June 30, 2024, respectively	515	478
Additional paid-in capital	206,705	204,893
Accumulated other comprehensive loss	(2,029)	(1,443)
Accumulated deficit	(216,510)	(211,782)
Total shareholders' deficit	(11,319)	(7,854)
Total liabilities and shareholders' deficit	4,794	7,972
Related Party [Member]
Current liabilities:
Accounts payable	2,408	1,018
Nonrelated Party [Member]
Current liabilities:
Accounts payable	$ 3,188	$ 1,590