Announcement • Aug 16
ThermoGenesis Holdings, Inc. announced delayed 10-Q filing On 08/15/2024, ThermoGenesis Holdings, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Jul 12
ThermoGenesis Holdings, Inc. Receives A Notice of Default from Boyalife Group (USA), Inc On July 9, 2024, ThermoGenesis Holdings, Inc. received a notice of default from Boyalife Group (USA), Inc. ("the Lender") under the First Amended and Restated Revolving Credit Agreement, dated April 16, 2018, between the Company and Lender, as amended (the Credit Agreement), and under the Second Amended and Restated Convertible Promissory Note, dated March 4, 2022, as amended, issued by the Company to the Lender under the Credit Agreement ("the Note"). The Default Notice states and declares that a default occurred under the Credit Agreement and Note as of July 9, 2024, for failure to make a required interest payment and declares the entire balance of the Note to be immediately due and payable. The Note is secured by the Company’s shares in its ThermoGenesis Corp. subsidiary. The Default Notice also states that if the entire outstanding balance of the Note including accrued interest, which is $3,441,000 as of July 1, 2024, is not paid in full to the Lender on or before July 11, 2024, the Lender elects to take all equity of the collateral assets, TG Corp. without any further consent action from the Company. The Company will not have the ability to pay the Note in full by July 11, 2024, and anticipates that the Lender will elect to exercise its rights under the Note. Announcement • Jun 13
ThermoGenesis Holdings Receives Notice from Nasdaq Due to Non-Compliance with Minimum of $2.5 Million in Stockholders’ Equity for Continued Listing Under Nasdaq’s Listing Rule 5550(b)(1) As previously disclosed, on April 19, 2024, ThermoGenesis Holdings, Inc. (the ‘Company’) received a notice (the ‘Nasdaq Notice’) from The Nasdaq Stock Market (‘Nasdaq’) that the Company’s stockholders’ equity as reported on its Form 10-K for the year ended December 31, 2023, does not comply with Nasdaq’s Listing Rule 5550(b)(1) that requires the Company to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing. Additionally, as of the date of the report, the Company did not meet the alternatives of market value of listed securities or net income from continuing operations under Nasdaq Listing Rules. On June 6, 2024, the Company received an additional notice (the ‘Determination Notice’) from Nasdaq’s Staff (the ‘Staff’) notifying the Company that the Staff denied the Company’s request for continued listing on Nasdaq as they determined that the Company did not provide a definitive plan evidencing its ability to achieve near term compliance with the continued listing requirements or sustain the compliance over an extended period of time. The Determination Notice stated that trading of the Company’s common stock will be suspended at the opening of business on June 17, 2024 (the ‘Nasdaq Delisting Date’), and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company’s securities from being listed on Nasdaq. The Determination Letter informed the Company that it may appeal the Staff’s decision to a Hearings Panel. The Company may request either an oral hearing or a hearing based on written submissions for a fee of $20,000. If the Company chooses to appeal, the request must be received by Nasdaq no later than 4:00 p.m. Eastern Time on June 13, 2024. The Company is reviewing its options, but currently does not intend to appeal. If the Company doesn’t appeal, its common stock is expected to begin trading on the Over-the-Counter Market (‘OTC’) after the Nasdaq Delisting Date and obtaining approval from FINRA. However, there are no assurances that trading of the Company’s common stock on the OTC will commence promptly, or at all, or will be maintained. Announcement • Apr 25
ThermoGenesis Holdings Receives Notice from Nasdaq Regarding Non-Compliance with Nasdaq’s Listing Rule 5550(b)(1) On April 19, 2024, ThermoGenesis Holdings, Inc. (the ‘Company’) received a notice (the ‘Nasdaq Notice’) from The Nasdaq Stock Market (‘Nasdaq’) that the Company does not presently comply with Nasdaq’s Listing Rule 5550(b)(1) that requires the Company to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing. Additionally, as of the date of this report, the Company does not meet the alternatives of market value of listed securities or net income from continuing operations under Nasdaq Listing Rules. The Nasdaq Notice does not have any immediate effect on the listing of the Company’s common stock on the Nasdaq Capital Market and the Company has 45 calendar days from the date of the Nasdaq Notice to submit a plan to Nasdaq to regain compliance with Nasdaq’s continued listing rules. If the Company’s plan is accepted, Nasdaq can grant the Company an extension of up to 180 calendar days from the date of the Nasdaq Notice for the Company to evidence compliance with its plan and with the relevant Nasdaq continued listing rules. In connection with the Company’s plan, once submitted, Nasdaq staff will consider such things as the likelihood that the plan will result in compliance with Nasdaq’s continued listing criteria, the Company’s past compliance history, the reasons for the Company’s current non-compliance, other corporate events that may occur during staff’s review period, the Company’s overall financial condition, and the Company’s public disclosures. If, in the staff’s consideration of the Company’s plan, the staff were to determine that the Company would not be able to cure the deficiency, then Nasdaq would provide notice that the Company’s common stock would be subject to delisting. Upon such a notice, the Company would have the right to appeal that determination and the Company’s common stock would continue to remain listed on the Nasdaq Capital Market until the completion of the appeal process. The Company is considering various actions that it may take in response to the Nasdaq Notice in order to provide to Nasdaq the required plan to regain compliance with the continued listing requirements, but the Company has not currently completed its internal analysis regarding the items to be included in its plan to be submitted to Nasdaq staff. New Risk • Feb 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Shareholders have been substantially diluted in the past year (202% increase in shares outstanding). Market cap is less than US$10m (US$2.15m market cap). Announcement • Jan 10
ThermoGenesis Holdings Receives Letter from The Nasdaq Stock Market Regarding Non-Compliance with the Minimum Bid Price Requirement for Continued Listing on the Nasdaq Capital Market On January 8, 2024, ThermoGenesis Holdings, Inc. (the ‘Company’) received a letter (the ‘Notice’) from The Nasdaq Stock Market (‘Nasdaq’) notifying the company that, because the closing bid price for its common stock has been below $1.00 per share for 30 consecutive business days, it no longer complies with the minimum bid price requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share (the ‘Minimum Bid Price Requirement’), and Listing Rule 5810(c)(3)(A) provides that a failure to meet the Minimum Bid Price Requirement exists if the deficiency continues for a period of 30 consecutive business days. The Notice provides the Company with a compliance period of 180 calendar days, or until July 8, 2024, to regain compliance with the Minimum Bid Price Requirement. If at any time during this 180-day compliance period the closing bid price of the Company’s common stock is at least $1.00 per share for a minimum of ten consecutive business days, then Nasdaq will provide the Company with written confirmation of compliance and the matter will be closed. If compliance cannot be demonstrated by July 8, 2024, the Company may be eligible for additional time. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards on the Nasdaq Capital Market (except the bid price requirement). In addition, the Company would be required to provide written notice of its intention to cure the minimum bid price deficiency during this second 180-day compliance period by effecting a reverse stock split, if necessary. The Notice states that, if the Company meets these standards, then the Company may be eligible to have an additional 180-calendar day compliance period. If the Company is not granted an additional 180-day compliance period, then Nasdaq will provide written notification that the Company’s securities will be subject to delisting. At that time, the Company may appeal the determination to delist its securities to a Nasdaq hearings panel. There can be no assurance that the Company will regain compliance with the Minimum Bid Price Requirement or otherwise maintain compliance with the other listing requirements. Announcement • Nov 23
ThermoGenesis Holdings, Inc. has filed a Follow-on Equity Offering in the amount of $1.288 million. ThermoGenesis Holdings, Inc. has filed a Follow-on Equity Offering in the amount of $1.288 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Reported Earnings • Nov 16
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: US$1.46 loss per share. Revenue: US$2.19m (up 3.7% from 3Q 2022). Net loss: US$3.62m (loss widened 12% from 3Q 2022). Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Medical Equipment industry in the US. New Risk • Nov 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (207% increase in shares outstanding). Market cap is less than US$10m (US$3.80m market cap). Minor Risk Share price has been volatile over the past 3 months (9.8% average weekly change). Announcement • Nov 08
ThermoGenesis Holdings, Inc. to Report Q3, 2023 Results on Nov 13, 2023 ThermoGenesis Holdings, Inc. announced that they will report Q3, 2023 results on Nov 13, 2023 Announcement • Oct 27
ThermoGenesis Holdings, Inc., Annual General Meeting, Dec 14, 2023 ThermoGenesis Holdings, Inc., Annual General Meeting, Dec 14, 2023, at 09:00 Pacific Standard Time. Location: 2711 Citrus Rd., Rancho Cordova CA 95742 California United States Agenda: To elect the Company's six director nominees to hold office until the next Annual Meeting of Stockholders or until their successors are duly elected and qualified; to ratify the appointment of Marcum LLP as independent registered public accounting firm for the fiscal year ending December 31, 2023; to approve on a non-binding, advisory basis, the compensation of our named executive officers; to approve, on a non-binding, advisory basis, the frequency of the advisory vote on executive compensation; and to transact such business as may properly come before the stockholders at the Annual Meeting. Major Estimate Revision • Aug 17
Consensus revenue estimates fall by 25% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$17.0m to US$12.8m. Forecast losses increased from -US$0.20 to -US$3.26 per share. Medical Equipment industry in the US expected to see average net income growth of 20% next year. Consensus price target up from US$4.89 to US$5.11. Share price was steady at US$1.24 over the past week. Reported Earnings • Aug 13
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: US$1.47 loss per share (improved from US$8.99 loss in 2Q 2022). Revenue: US$2.27m (down 25% from 2Q 2022). Net loss: US$2.26m (loss narrowed 16% from 2Q 2022). Revenue missed analyst estimates by 50%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Medical Equipment industry in the US. Announcement • Aug 09
ThermoGenesis Holdings, Inc. to Report Q2, 2023 Results on Aug 10, 2023 ThermoGenesis Holdings, Inc. announced that they will report Q2, 2023 results After-Market on Aug 10, 2023 Reported Earnings • May 16
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: US$4.07 loss per share. Revenue: US$2.57m (down 3.4% from 1Q 2022). Net loss: US$5.09m (loss widened 166% from 1Q 2022). Revenue missed analyst estimates by 8.1%. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Medical Equipment industry in the US. Announcement • May 11
ThermoGenesis Holdings, Inc. to Report Q1, 2023 Results on May 15, 2023 ThermoGenesis Holdings, Inc. announced that they will report Q1, 2023 results After-Market on May 15, 2023 Breakeven Date Change • Apr 04
Forecast breakeven date moved forward to 2023 The analyst covering ThermoGenesis Holdings previously expected the company to break even in 2024. New forecast suggests the company will make a profit of US$341.0k in 2023. Earnings growth of 53% is required to achieve expected profit on schedule. Reported Earnings • Apr 02
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: US$20.45 loss per share (improved from US$43.41 loss in FY 2021). Revenue: US$10.5m (up 13% from FY 2021). Net loss: US$11.3m (loss narrowed 1.0% from FY 2021). Revenue missed analyst estimates by 8.4%. Earnings per share (EPS) also missed analyst estimates by 42%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Medical Equipment industry in the US. Announcement • Jan 12
ThermoGenesis Regains Compliance with Nasdaq Minimum Bid Price Requirement ThermoGenesis Holdings, Inc. announced it has received notice from The Nasdaq Stock Market LLC ("Nasdaq") that the Company has regained compliance with Nasdaq's minimum bid price for continued listing on the Nasdaq Capital Market set in Nasdaq Listing Rule 5550(a)(2) ("Min Bid Price Rule"). On March 7, 2022, Nasdaq notified the Company that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of The Nasdaq Stock Market. On January 9, 2023, Nasdaq determined that for the last 10 consecutive business days, from December 22, 2022 to January 6, 2023, the closing bid price of the Company's common stock has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2) and considers this matter is now closed. Price Target Changed • Nov 17
Price target decreased to US$1.00 Down from US$8.50, the current price target is provided by 1 analyst. New target price is 823% above last closing price of US$0.11. Stock is down 93% over the past year. The company is forecast to post a net loss per share of US$0.32 next year compared to a net loss per share of US$0.96 last year. Board Change • Nov 17
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Russell Medford was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: US$0.10 loss per share. Revenue: US$2.12m (down 33% from 3Q 2021). Net loss: US$3.24m (loss widened 83% from 3Q 2021). Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Medical Equipment industry in the US. Breakeven Date Change • Aug 17
Forecast breakeven date pushed back to 2024 The analyst covering ThermoGenesis Holdings previously expected the company to break even in 2022. New forecast suggests losses will reduce by 62% per year to 2023. The company is expected to make a profit of US$2.34m in 2024. Average annual earnings growth of 67% is required to achieve expected profit on schedule. Board Change • Aug 17
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Russell Medford was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Breakeven Date Change • May 17
Forecast to breakeven in 2022 The analyst covering ThermoGenesis Holdings expects the company to break even for the first time. New forecast suggests the company will make a profit of US$2.17m in 2022. Earnings growth of 51% is required to achieve expected profit on schedule. Price Target Changed • Apr 27
Price target decreased to US$6.00 Down from US$8.50, the current price target is provided by 1 analyst. New target price is 966% above last closing price of US$0.56. Stock is down 80% over the past year. The company is forecast to post earnings per share of US$0.11 next year compared to a net loss per share of US$0.96 last year. Reported Earnings • Mar 30
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: US$0.96 loss per share (up from US$2.60 loss in FY 2020). Revenue: US$9.29m (down 4.6% from FY 2020). Net loss: US$11.4m (loss narrowed 30% from FY 2020). Revenue missed analyst estimates by 9.3%. Earnings per share (EPS) exceeded analyst estimates by 20%. Over the next year, revenue is forecast to grow 154%, compared to a 9.4% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 15
Third quarter 2021 earnings released: US$0.15 loss per share (vs US$0.37 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$3.16m (up 34% from 3Q 2020). Net loss: US$1.77m (loss narrowed 28% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 19
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from US$9.94m to US$10.2m. Forecast EPS reduced from -US$0.49 to -US$0.70 per share. Medical Equipment industry in the US expected to see average net income growth of 20% next year. Consensus price target of US$6.00 unchanged from last update. Share price was steady at US$2.19 over the past week. Reported Earnings • Aug 14
Second quarter 2021 earnings released: US$0.38 loss per share (vs US$1.02 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: US$2.20m (down 1.8% from 2Q 2020). Net loss: US$4.54m (loss narrowed 30% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Major Estimate Revision • May 20
Consensus revenue estimates fall to US$9.94m The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from US$13.6m to US$9.94m. Forecast losses increased from -US$0.28 to -US$0.49 per share. Medical Equipment industry in the US expected to see average net income growth of 33% next year. Consensus price target of US$6.00 unchanged from last update. Share price was steady at US$2.32 over the past week. Reported Earnings • May 16
First quarter 2021 earnings released: US$0.21 loss per share (vs US$1.11 loss in 1Q 2020) The company reported a soft first quarter result with weaker revenues and control over costs, although losses reduced. First quarter 2021 results: Revenue: US$1.52m (down 53% from 1Q 2020). Net loss: US$2.41m (loss narrowed 48% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Major Estimate Revision • Mar 24
Consensus revenue estimates fall to US$13.6m The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from US$17.6m to US$13.6m. Forecast losses increased from -US$0.16 to -US$0.28 per share. Medical Equipment industry in the US expected to see average net income growth of 25% next year. Consensus price target down from US$8.50 to US$6.00. Share price fell 13% to US$2.55 over the past week. Reported Earnings • Mar 19
Full year 2020 earnings released: US$2.60 loss per share (vs US$3.36 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$9.74m (down 25% from FY 2019). Net loss: US$16.4m (loss widened 72% from FY 2019). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 54% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 10
New 90-day high: US$3.85 The company is up 64% from its price of US$2.35 on 11 November 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 9.0% over the same period. Is New 90 Day High Low • Jan 22
New 90-day high: US$2.73 The company is up 17% from its price of US$2.33 on 23 October 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 18
New 90-day low: US$2.10 The company is down 42% from its price of US$3.65 on 18 September 2020. The American market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 10.0% over the same period. Analyst Estimate Surprise Post Earnings • Nov 15
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 39%. Earnings per share (EPS) exceeded analyst estimates by 270%. Over the next year, revenue is forecast to grow 66%, compared to a 18% growth forecast for the Medical Equipment industry in the US. Reported Earnings • Nov 15
Third quarter 2020 earnings released: US$0.37 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: US$2.36m (down 42% from 3Q 2019). Net loss: US$2.46m (loss widened 7.9% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 60% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 10
New 90-day low: US$2.55 The company is down 48% from its price of US$4.87 on 10 July 2020. The American market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 14% over the same period. Is New 90 Day High Low • Sep 23
New 90-day low: US$3.24 The company is down 42% from its price of US$5.63 on 25 June 2020. The American market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 14% over the same period.