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Pear Therapeutics, Inc.OTCPK:PEAR.Q Stock Report

Market Cap US$142.0
Share Price
n/a
My Fair Value
n/a
1Y-100.0%
7D0%
1D
Portfolio Value
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Pear Therapeutics, Inc.

OTCPK:PEAR.Q Stock Report

Market Cap: US$142.0

Pear Therapeutics (PEAR.Q) Stock Overview

A commercial-stage healthcare company, develops and sells software-based medicines in the United States. More details

PEAR.Q fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance0/6
Financial Health3/6
Dividends0/6

Rewards

Revenue grew by 201.7% over the past year

Risk Analysis

Does not have a meaningful market cap ($142)

Shares are highly illiquid

Latest financial reports are more than a year old


PEAR.Q Community Fair Values

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Pear Therapeutics, Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Pear Therapeutics
Historical stock prices
Current Share PriceUS$0.000001
52 Week HighUS$0.02
52 Week LowUS$0.000001
Beta8.21
1 Month Change0%
3 Month Change-99.00%
1 Year Change-99.97%
3 Year Change-100.00%
5 Year Changen/a
Change since IPO-100.00%

Recent News & Updates

Analysis Article • Apr 17

Slammed 82% Pear Therapeutics, Inc. (NASDAQ:PEAR) Screens Well Here But There Might Be A Catch

Pear Therapeutics, Inc. ( NASDAQ:PEAR ) shareholders that were waiting for something to happen have been dealt a blow...

Recent updates

Analysis Article • Apr 17

Slammed 82% Pear Therapeutics, Inc. (NASDAQ:PEAR) Screens Well Here But There Might Be A Catch

Pear Therapeutics, Inc. ( NASDAQ:PEAR ) shareholders that were waiting for something to happen have been dealt a blow...
Seeking Alpha • Aug 18

Pear Therapeutics Lays Off 9% Of Workforce, Guides For $15 Million Revenue

Lots of payors are adding reSET to their covered benefit plans, and savings results far exceed prices of the products, usually leaving about 50% in surplus for the health system. Payor contract economics is making timing issues for revenue recognition, but run-rate revenue still indicates Pear is still annualising $12 million in revenue. They've laid off 9% of the workforce and operating expenses are down, and the focus is now mostly on the current line-up. Revenue guidance falls below our expectations at $15 million for 2022, so we're a little less convinced now since a venture is always a race against time. Published on the Value Lab 15/8/22 Pear Therapeutics (PEAR) is by far one of our worst performing ideas having been decimated in the SPAC boom. We quite agreed with the initial valuation given the blue skies in the markets and the treatment areas being so prevalent, but the markets, likely concerned also with reflexivity, were having none of it, thus a 80% decline. Now they've reported their Q2 results in their first year as a public company. From an execution point of view, we like what we see, but we're becoming aware of sluggishness in the realisation of agreements with payors, and since they are racing against time, despite the superb value add of the company to the health system and the substantial scope for value capture, we have our worries. Q2 Comments Let's start with the most important thing for any venture which is revenue. Q2 revenue was $3.3 million, 20% growth QoQ and 175% YoY, although the latter says nothing. This is annualising at around $12 million annually, and the guidance is for $15 million annually with the expectation of further QoQ growth. Major wins with payors came in with prescriptions rising quickly to over 10k, and ASPs at over $1.3k. While revenue growth is good, it takes a while for health systems to add Pear products to their coverage list, so despite the good uptake, accelerating any faster is not very doable. The leads take a good while to convert. Therefore, it can be said that the current revenue growth falling below our hopes is mostly a timing issue, where interest has yet to be realised into payor agreements, but the problem with a venture is that timing is everything. The company has about $100 million in cash and cash equivalents to last them into the following quarters. The company previously guided to 2023 being the next year where dilution will occur, but hopefully cost controls have somewhat pushed that out to mitigate a slower than hoped revenue trajectory. Pear has laid off 9% of its workforce, meaning a couple dozen people. Expenses have actually fallen by a couple of percent QoQ, which is great in light of the growing revenue, and these expenses are expected to continue to fall QoQ. But it is coming at a cost. Currently the Somryst and the reSET products are the ones that are getting coverage, the former for insomnia and related conditions and the latter being for substance abuse. Now with the cost cuts, the management is saying definitively that it is going to put work on its pipeline on the backburner. In addition to reducing our workforce, we substantially reduced work on pipeline candidates, discovery programs, business development, and our dual platforms. We didn't stop there. We also narrowed our commercial efforts to focus our resources on areas of highest coverage density, while de-prioritizing longer-term opportunities for the time being. As a result of the restructuring, we expect to reduce our operating expenses by approximately $28 million over 18 months. We expect to spend less in Q3 than we did in Q2, and we expect to spend less in Q4 than we did in Q3. Corey McCann, CEO of PEAR
Seeking Alpha • Aug 03

Pear Therapeutics providing Core Behavioral with opioid use disorder digital therapeutic

Pear Therapeutics' (NASDAQ:PEAR) opioid use disorder prescription digital therapeutic will be provided to Core Behavioral Health centers in the Tampa Bay, Fla., area. Cove will offer the reSET-O product in English and Spanish. reSET-O is a prescription cognitive behavioral therapy that is used as an adjunct to outpatient treatment. In June, a study showed that use of reSET-O led to a reduction in inpatient stays.
Seeking Alpha • May 21

Pear Therapeutics Sees Growing Fulfillment Rates And Payor Traction

Fulfilment rates are growing relative to last quarter, and so are prescriptions. Government traction is becoming more evident as states mandate coverage of Pear products for all resident Medicaid members, and payment rates should rise on account of that. As a digital company, they are pushing their own dashboard which seems to be picking up traction and creates some leverage potential for economies of scale and scope. ASPs are higher than we modeled still but will decline as rebates bring net prices down, but this would be concomitant with larger contracts and a good thing. Still early days, so who knows how long it will go, but the current cash position let us see till 2023 before more dilution.
Seeking Alpha • Apr 04

Pear Therapeutics Guiding For Being 1% Down The Potential Runway In Current Markets

Pear delivered well for the FY despite only being a post-revenue company for part of it. Covered lives are developing fast, and prescription numbers have just started to ramp. 2022 will be a full year of performance, and the company is guiding to sharp increases in prescriptions. Fulfillment metrics look good, meaning that on the patient side things look good, so it's all about pushing with physicians now. Pear is too young to make precise estimates, but based on management statements, cash burn shouldn't deplete cash reserves till mid-2023 by which time we hope to see scaling.
Seeking Alpha • Jan 10

Even With Low Penetration Assumptions For PDTs, Pear Therapeutics Is A Buy

Pear is a category creator of Digital Therapeutics (DTx), which means its applications are reimbursed at phenomenal rates by payors and other benefit providers. The addressable market in the US alone is massive with Pear's treatment areas, and Pear is first out the gate. They have already achieved excellent R&D results on a small cost-base, and a digital pharma model will likely have inherently strong economics. Risks are primarily to do with educating the market, which also paves the way for competitors. Still, we are happy with the valuation given the intersection of digital health and telemedicine, two areas which have already proven quite revolutionary.

Shareholder Returns

PEAR.QUS Healthcare ServicesUS Market
7D0%-1.4%1.4%
1Y-100.0%-46.1%25.7%

Return vs Industry: PEAR.Q underperformed the US Healthcare Services industry which returned -3.2% over the past year.

Return vs Market: PEAR.Q underperformed the US Market which returned 25.6% over the past year.

Price Volatility

Is PEAR.Q's price volatile compared to industry and market?
PEAR.Q volatility
PEAR.Q Average Weekly Movementn/a
Healthcare Services Industry Average Movement10.1%
Market Average Movement7.2%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.1%

Stable Share Price: PEAR.Q's share price has been volatile over the past 3 months.

Volatility Over Time: Insufficient data to determine PEAR.Q's volatility change over the past year.

About the Company

FoundedEmployeesCEOWebsite
2013200n/apeartherapeutics.com

Pear Therapeutics, Inc., a commercial-stage healthcare company, develops and sells software-based medicines in the United States. Its commercial products are reSET for the treatment of substance use disorder related to alcohol, cannabis, cocaine, and stimulants; reSET-O for the treatment of opioid use disorder in combination with buprenorphine; and Somryst, a software-based treatment for chronic insomnia. The company is also developing a pipeline of product candidates focusing on psychiatry, neurology, and outside of central nervous system therapeutic areas, such as gastroenterology, cardiology, and oncology.

Pear Therapeutics, Inc. Fundamentals Summary

How do Pear Therapeutics's earnings and revenue compare to its market cap?
PEAR.Q fundamental statistics
Market capUS$142.00
Earnings (TTM)-US$75.49m
Revenue (TTM)US$12.69m
0.0x
P/S Ratio
0.0x
P/E Ratio

Is PEAR.Q overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
PEAR.Q income statement (TTM)
RevenueUS$12.69m
Cost of RevenueUS$7.39m
Gross ProfitUS$5.30m
Other ExpensesUS$80.79m
Earnings-US$75.49m

Last Reported Earnings

Dec 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.53
Gross Margin41.75%
Net Profit Margin-594.70%
Debt/Equity Ratio89.7%

How did PEAR.Q perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/05/27 05:38
End of Day Share Price 2024/05/27 00:00
Earnings2022/12/31
Annual Earnings2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Pear Therapeutics, Inc. is covered by 6 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael ChernyBofA Global Research
Michael GormanBTIG
Marie ThibaultBTIG