Announcement • Nov 01
Guardion Health Sciences' Common Stock to be Deleted from OTC Equity Guardion Health Sciences, Inc. common stock will be deleted from OTC Equity effective October 31, 2024, due to liquidation /final distribution. Announcement • Oct 02
Guardion Health Sciences Expects the Official Delisting of its Common Stock to be Effective October 21, 2024 Guardion Health Sciences, Inc. (‘Guardion’ or the ‘Company’) announced that it has notified the Nasdaq Stock Market (‘Nasdaq’) of its intent to delist its common stock, par value $0.001 per share (the ‘Common Stock’), from the Nasdaq Capital Market. Guardion expects to file a Form 25 (Notification of Removal from Listing) with the Securities and Exchange Commission (the ‘SEC’) and Nasdaq relating to the delisting of the Common Stock on or about October 11, 2024 and to suspend trading of its Common Stock on the Nasdaq Capital Market prior to the opening of trading on October 14, 2024. Guardion expects that the official delisting of its Common Stock will be effective October 21, 2024. New Risk • Sep 25
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$8.41m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Market cap is less than US$10m (US$8.41m market cap). Minor Risk Significant insider selling over the past 3 months (US$1.5m sold). New Risk • Aug 24
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 19% 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 Risk Share price has been highly volatile over the past 3 months (19% average weekly change). Minor Risk Market cap is less than US$100m (US$14.5m market cap). Announcement • Aug 22
Guardion Health Sciences, Inc. Declares Dividend, Payable on September 23, 2024 Guardion Health Sciences, Inc. announced that its Board of Directors declared a cash dividend in an amount equal to $5.00 per share of common stock held by its stockholders of record on September 9, 2024 and a payment date of September 23, 2024. Reported Earnings • Aug 15
Second quarter 2024 earnings released: US$1.66 loss per share (vs US$0.93 loss in 2Q 2023) Second quarter 2024 results: US$1.66 loss per share (further deteriorated from US$0.93 loss in 2Q 2023). Revenue: US$72.9k (down 97% from 2Q 2023). Net loss: US$2.13m (loss widened 82% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. New Risk • May 24
New major risk - Revenue and earnings growth Earnings have declined by 4.8% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.8% per year over the past 5 years. Minor Risk Market cap is less than US$100m (US$11.7m market cap). Reported Earnings • May 15
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: US$3.71 loss per share (down from US$0.42 profit in 1Q 2023). Revenue: US$3.00m (down 5.8% from 1Q 2023). Net loss: US$4.75m (down US$5.28m from profit in 1Q 2023). Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Personal Products industry in the US. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 52% per year, which means it is significantly lagging earnings. New Risk • May 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 72% per year for the foreseeable future. High level of non-cash earnings (211% accrual ratio). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$16.0m market cap). New Risk • Apr 10
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.94m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings are forecast to decline by an average of 72% per year for the foreseeable future. High level of non-cash earnings (211% accrual ratio). Market cap is less than US$10m (US$9.94m market cap). Minor Risk Shareholders have been diluted in the past year (4.2% increase in shares outstanding). Reported Earnings • Apr 01
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: US$0.12 (up from US$14.15 loss in FY 2022). Revenue: US$12.2m (up 11% from FY 2022). Net income: US$158.0k (up US$16.0m from FY 2022). Profit margin: 1.3% (up from net loss in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 9.4% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Personal Products industry in the US. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 56% per year, which means it is significantly lagging earnings. New Risk • Feb 01
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 20% 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 (20% average weekly change). Market cap is less than US$10m (US$6.57m market cap). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$3.4m net loss in 2 years). Shareholders have been diluted in the past year (3.5% increase in shares outstanding). Announcement • Jan 31
Doctor's Best, Inc. agreed to acquire Activ Nutritional, LLC. from Guardion Health Sciences, Inc. (NasdaqCM:GHSI) for $17.2 million. Doctor's Best, Inc. agreed to acquire Activ Nutritional, LLC. from Guardion Health Sciences, Inc. (NasdaqCM:GHSI) for $17.2 million on January 30, 2024. The transaction has been approved by the respective Boards of Directors of Guardion and of Doctor’s Best, and remains subject to normal and customary closing conditions, including approval of the transaction by the Company’s stockholders at a forthcoming Special Meeting of Stockholders. Assuming requisite approval by the Company’s stockholders, the transaction is expected to close during the quarter ending June 30, 2024. Alantra USA acted as financial advisor and Sheppard, Mullin, Richter & Hampton LLP acted as legal advisor to Guardion Health Sciences, Inc. Major Estimate Revision • Nov 30
Consensus EPS estimates upgraded to US$0.94 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -US$2.09 to -US$0.94 per share. Revenue forecast unchanged from US$12.3m at last update. Personal Products industry in the US expected to see average net income growth of 12% next year. Consensus price target of US$12.00 unchanged from last update. Share price fell 2.5% to US$5.93 over the past week. Reported Earnings • Nov 16
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: US$0.29 (up from US$1.38 loss in 3Q 2022). Revenue: US$3.34m (up 25% from 3Q 2022). Net income: US$372.6k (up US$2.07m from 3Q 2022). Profit margin: 11% (up from net loss in 3Q 2022). Revenue exceeded analyst estimates by 8.5%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Personal Products industry in the US. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 55% per year, which means it is significantly lagging earnings. Announcement • Oct 05
Guardion Health Sciences, Inc., Annual General Meeting, Nov 21, 2023 Guardion Health Sciences, Inc., Annual General Meeting, Nov 21, 2023, at 11:00 Central Standard Time. Agenda: To elect 4 members to the Board of Directors; to ratify the appointment of Weinberg & Company, P.A. as independent registered public accounting firm for the fiscal year ending December 31, 2023; and to transact other matters. Reported Earnings • Aug 14
Second quarter 2023 earnings: Revenues and EPS in line with analyst expectations Second quarter 2023 results: US$0.93 loss per share (improved from US$1.38 loss in 2Q 2022). Revenue: US$2.79m (down 15% from 2Q 2022). Net loss: US$1.17m (loss narrowed 31% from 2Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Personal Products industry in the US. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 58% per year, which means it is significantly lagging earnings. Announcement • Aug 03
Guardion Health Sciences, Inc. Announces Executive Changes On July 25, 2023, the Board of Directors of Guardion Health Sciences, Inc. approved the appointment of Katie Cox as Chief Accounting Officer of the Company. Prior to her appointment as Chief Accounting Officer, Ms. Cox served as the Company's Head of Financial Planning and Analysis since June 2022. On May 18, 2023, Ms. Cox entered into a Retention Agreement with the Company (the Retention Agreement"), pursuant to which Ms. Cox will be entitled to receive a bonus of $50,000, which will be paid to Ms. Cox within 30 days immediately following a Change of Control Transaction (as such term is defined in the Retention Agreement). In addition, and subject to the satisfaction of certain conditions set forth in the Retention Agreement, in the event that a Change of Control Transaction is not consummated prior to December 31, 2023, Ms. Cox will be eligible to receive a retention bonus of $50,000, which if not otherwise forfeited, will be paid on December 31, 2023. Pursuant to the Retention Agreement, in the event that the Company terminates Ms. Cox's employment without Cause (as such term is defined in the Retention Agreement), the Company shall continue to pay her Base Salary for a period of 6 months thereafter. Prior to joining the Company, Ms. Cox served as Director of Financial Planning and Analysis of Catalent Pharma Solutions, a subsidiary of Catalent, Inc. from September 2019 through June 2022. From September 2009 through September 2019, Ms. Cox served as Finance Manager of Baxter Pharmaceutical Solutions, LLC, a subsidiary of Baxter International. Ms. Cox holds a BA in Psychology from Indiana University and an MBA from Indiana Wesleyan University. On July 25, 2023, Jeffrey Benjamin, the Chief Accounting Officer and the Principal Financial Officer of the Company, provided the Company with notice that he was resigning from his position as Chief Accounting Officer, which became effective July 25, 2023, and as an employee of the Company effective August 4, 2023. Board Change • Jun 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. Independent Director Don Gagliano was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Major Estimate Revision • May 22
Consensus estimates of losses per share improve by 39% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from US$12.0m to US$12.3m. EPS estimate increased from -US$3.71 per share to -US$2.26 per share. Personal Products industry in the US expected to see average net income growth of 44% next year. Consensus price target of US$12.00 unchanged from last update. Share price rose 5.1% to US$6.60 over the past week. Major Estimate Revision • Apr 26
Consensus EPS estimates upgraded to US$3.71 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -US$6.50 to -US$3.71 per share. Revenue forecast unchanged from US$12.0m at last update. Personal Products industry in the US expected to see average net income growth of 13% next year. Consensus price target down from US$30.00 to US$12.00. Share price fell 3.5% to US$6.00 over the past week. Reported Earnings • Apr 18
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: US$14.15 loss per share (improved from US$52.23 loss in FY 2021). Revenue: US$11.0m (up 53% from FY 2021). Net loss: US$15.9m (loss narrowed 36% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 89%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Personal Products industry in the US. Price Target Changed • Feb 27
Price target decreased by 11% to US$30.00 Down from US$33.75, the current price target is provided by 1 analyst. New target price is 355% above last closing price of US$6.59. Stock is down 30% over the past year. The company is forecast to post a net loss per share of US$7.50 next year compared to a net loss per share of US$52.23 last year. Announcement • Jan 26
Guardion Health Sciences Regains Compliance with Nasdaq Continued Listing Requirements Guardion Health Sciences, Inc. (“Guardion” or the “Company”) announced that it has received confirmation from The Nasdaq Stock Market LLC (“Nasdaq”) that it has regained compliance with the minimum bid price requirement of $1.00 per share under Nasdaq Listing Rule 5550(a)(2) and currently meets all other applicable criteria for continued listing. On January 25, 2022, Nasdaq notified Guardion that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive trading days as required by the Listing Rules of Nasdaq. Subsequently, by letter dated January 24, 2023, Nasdaq has determined that for the last 10 consecutive trading days, from January 9, 2023 through January 23, 2023, the closing bid price of Guardion’s common stock has been $1.00 per share or greater, and the Company has therefore regained compliance with Listing Rule 5550(a)(2), and this matter is now closed. Is New 90 Day High Low • Feb 09
New 90-day high: US$0.98 The company is up 417% from its price of US$0.19 on 10 November 2020. The American market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Personal Products industry, which is up 20% over the same period. Is New 90 Day High Low • Jan 20
New 90-day high: US$0.80 The company is up 297% from its price of US$0.20 on 21 October 2020. The American market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Personal Products industry, which is up 18% over the same period. Is New 90 Day High Low • Dec 24
New 90-day high: US$0.37 The company is up 77% from its price of US$0.21 on 24 September 2020. The American market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Personal Products industry, which is up 27% over the same period. Is New 90 Day High Low • Dec 02
New 90-day high: US$0.29 The company is up 8.0% from its price of US$0.27 on 02 September 2020. The American market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Personal Products industry, which is up 14% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: US$0.024 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: US$253.2k (up 57% from 3Q 2019). Net loss: US$2.14m (loss narrowed 10% from 3Q 2019). Is New 90 Day High Low • Sep 18
New 90-day low: US$0.23 The company is down 48% from its price of US$0.43 on 19 June 2020. The American market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products industry, which is up 12% over the same period.