Pressure BioSciences, Inc.

The call did not provide specific revenue or EPS figures, but management said Q3 and 9M revenue, instrument sales, and consumable sales were all better than last year, and that 9M results matched the company’s record for its best 9 months ever. Gross margin was not stated. Q3 cash burn was $732,000, or a little over $220,000 per month, down about 30% year over year; 9M cash burn was about $2 million versus $3 million in the first 9 months of 2022. Operating loss was down about 5% in Q3 year over year and down significantly in 9M once one-time charges were excluded. No formal next-quarter or full-year numerical guidance was provided, but management said Ultra Shear should start contributing more in 2024 and that several strategic discussions could lead to developments in late 2023 or early 2024.

Richard Schumacher framed the quarter as operationally encouraging but financially still too small, saying the company wants to get to a “0 or 2” after the revenue figures. His main message was that Ultra Shear is the key growth engine, and he repeatedly stressed that the peer-reviewed CBD paper could have a long-lasting impact on partnerships and commercialization. He also sounded optimistic about expanding manufacturing capacity, building patents, and pursuing multiple product categories beyond CBD.

A formal CFO presentation was not given, but Schumacher covered the financials and capital position directly. He said Q3 cash burn was $732,000 and 9M cash burn was about $2 million, both improvements versus 2022, and noted that some burn is being reduced because investors are taking stock instead of cash. He also said operating loss was down about 5% in Q3 and down significantly year to date after excluding one-time charges, while emphasizing careful cash management and continued investment in equipment and capacity.

An analyst asked about agrochemicals after noting prior investment versus low current revenue; management said nothing is off limits, but Ultra Shear is the largest opportunity and agrochem is a strategic interest with lower margins than nutraceutical, pharmaceutical, and cosmeceutical areas. Another question focused on Canadian patent coverage, and management clarified it is a Canadian patent covering all provinces, with Canada viewed as a next-year focus. A final question asked about state licensing and possible sale of licenses; management said there were no takers, but that the peer-reviewed publication may improve interest.