Cue Health (HLTH) Quarterly Income Statement

Income Statement Summary

Cue Health (HLTH) quarterly income statement covering the six quarters from September 2022 to December 2023, as reported to the SEC.

Cue Health reported revenue of $18.8M in the quarter ended December 31, 2023, down 87.2% from $146.78M a year earlier.
That is 7.6% higher than the September 2023 quarter.
Income from operations was -$148.91M, a bigger loss than the $38.62M a year earlier. Operating margin was -792.1%.
Net income was -$148.43M, a bigger loss than the $31.51M a year earlier. Net margin was -789.6%.
Net income per share was -$0.96, a bigger loss than the $0.21 a year earlier.
Research and development took 171.6% of revenue and general and administrative 52.5%.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Dec'23	Sep'23	Jun'23	Mar'23	Dec'22	Sep'22
Revenue
Revenue
18,798	17,477	9,896	24,765	146,777	69,589	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenue						18,798	17,477	9,896	24,765	146,777	69,589	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating costs and expenses:
Sales and marketing
6,226	7,051	8,059	11,248	19,312	18,129	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Sales and marketing						6,226	7,051	8,059	11,248	19,312	18,129	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Research and development
32,248	37,103	36,536	44,733	56,149	42,516	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Research and development						32,248	37,103	36,536	44,733	56,149	42,516	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative
9,866	15,848	14,703	16,938	19,157	25,625	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative						9,866	15,848	14,703	16,938	19,157	25,625	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Restructuring expense
-18	-	6,645	7,873	-20	137	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Restructuring expense						-18	-	6,645	7,873	-20	137	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating costs and expenses
167,703	82,182	95,289	120,615	185,401	137,002	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating costs and expenses						167,703	82,182	95,289	120,615	185,401	137,002	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Loss) income from operations
-148,905	-64,705	-85,393	-95,850	-38,624	-67,413	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Loss) income from operations						-148,905	-64,705	-85,393	-95,850	-38,624	-67,413	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in fair value of redeemable convertible preferred stock warrants
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in fair value of redeemable convertible preferred stock warrants						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in fair value of convertible notes
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in fair value of convertible notes						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss on extinguishment of debt
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss on extinguishment of debt						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense
-	-304	-291	-220	-	-346	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense						-	-304	-291	-220	-	-346	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Tax credits
-	20,900	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Tax credits						-	20,900	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income (expense), net
-5,363	1,833	1,820	1,872	-1,293	409	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income (expense), net						-5,363	1,833	1,820	1,872	-1,293	409	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net (loss) income before income taxes
-148,372	-42,237	-83,864	-94,198	-36,821	-67,350	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net (loss) income before income taxes						-148,372	-42,237	-83,864	-94,198	-36,821	-67,350	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax expense (benefit)
60	4,733	-	-	-5,315	-1,047	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax expense (benefit)						60	4,733	-	-	-5,315	-1,047	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net (loss) income
-148,432	-46,970	-83,864	-94,198	-31,506	-66,303	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net (loss) income						-148,432	-46,970	-83,864	-94,198	-31,506	-66,303	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net (loss) income per share attributable to common stockholders – basic (in dollars per share)
-0.96	-0.31	-0.55	-0.62	-0.21	-0.45	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net (loss) income per share attributable to common stockholders – basic (in dollars per share)						-0.96	-0.31	-0.55	-0.62	-0.21	-0.45	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted-average number of shares used in computation of net (loss) income per share attributable to common stockholders – basic (in shares)
154,856	153,699	151,869	151,083	149,491	148,582	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted-average number of shares used in computation of net (loss) income per share attributable to common stockholders – basic (in shares)						154,856	153,699	151,869	151,083	149,491	148,582	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net (loss) income per share attributable to common stockholders – diluted (in dollars per share)
-0.96	-0.31	-0.55	-0.62	-0.21	-0.45	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net (loss) income per share attributable to common stockholders – diluted (in dollars per share)						-0.96	-0.31	-0.55	-0.62	-0.21	-0.45	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted-average number of shares used in computation of net (loss) income per share attributable to common stockholders – diluted (in shares)
154,856	153,699	151,869	151,083	142,981	148,582	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted-average number of shares used in computation of net (loss) income per share attributable to common stockholders – diluted (in shares)						154,856	153,699	151,869	151,083	142,981	148,582	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Product revenue
Revenue
17,381	14,757	7,591	24,494	145,701	66,660	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenue						17,381	14,757	7,591	24,494	145,701	66,660	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of product revenue
35,742	22,180	29,346	39,823	90,783	50,595	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of product revenue						35,742	22,180	29,346	39,823	90,783	50,595	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Grant and other revenue
Revenue
1,417	2,720	2,305	271	1,076	2,929	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenue						1,417	2,720	2,305	271	1,076	2,929	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx