MINERVA SURGICAL INC NEW (UTRS) Financials
Newest figures come from the 10-Q for Q3 FY2023, filed Nov 13, 2023. Each column of the statement tables below links to the filing it was taken from.
MINERVA SURGICAL INC NEW (UTRS) reported $51.7M in revenue over the twelve months to Sep 30, 2023, up 3.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Minerva’s dominant mechanic is a revenue plateau paired with widening operating losses and heavier balance-sheet dependence on debt.
Revenue fell3.5% in FY2022 while gross margin declined4.4% from FY2021’s level, showing weaker unit economics rather than merely lower volume. Operating cash flow worsened to-$35.6M in FY2022, nearly equaling free cash flow at-$35.6M , so reported losses were translating into cash consumption rather than being mainly non-cash.
SG&A fell to
Debt-to-equity rose to 2.2x in FY2022 as equity contracted sharply, making the balance sheet more sensitive to ongoing losses. Financing cash flow shifted from an inflow of
Financial Health Signals
MINERVA SURGICAL INC NEW does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
MINERVA SURGICAL INC NEW scores -6.13, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($89) relative to total liabilities ($51.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
MINERVA SURGICAL INC NEW passes 1 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
MINERVA SURGICAL INC NEW reported a net loss of $34.1M while operations used $35.6M of cash. With neither figure positive, the ratio between the two carries no quality signal.
MINERVA SURGICAL INC NEW reported an operating loss of $30.9M against $3.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
MINERVA SURGICAL INC NEW generated $12.0M in revenue in Q3 2023. This represents a decrease of 4.9% from the same quarter a year earlier. Against the prior quarter it is down 10.6%.
MINERVA SURGICAL INC NEW's EBITDA was -$5.6M in Q3 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 43.5% from the same quarter a year earlier. Against the prior quarter it is up 21.8%.
MINERVA SURGICAL INC NEW reported -$7.2M in net income in Q3 2023. This represents an increase of 36.6% from the same quarter a year earlier. Against the prior quarter it is up 17.3%.
Cash & Balance Sheet
MINERVA SURGICAL INC NEW recorded an outflow of $5.1M in free cash flow in Q3 2023, representing a cash shortfall after capex. This represents an increase of 24.9% from the same quarter a year earlier. Against the prior quarter it is up 46.9%.
MINERVA SURGICAL INC NEW held $11.1M in cash against $27.9M in long-term debt as of Q3 2023.
Not reported for Q3 2023.
Margins & Returns
MINERVA SURGICAL INC NEW's gross margin was 52.0% in Q3 2023, indicating the percentage of revenue retained after direct costs. This is down 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.3 percentage points.
MINERVA SURGICAL INC NEW's operating margin was -50.9% in Q3 2023, reflecting core business profitability. This is up 32.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 6.2 percentage points.
MINERVA SURGICAL INC NEW's net profit margin was -60.0% in Q3 2023, showing the share of revenue converted to profit. This is up 30.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.8 percentage points.
MINERVA SURGICAL INC NEW's ROE was -35.4% in Q3 2023, measuring profit generated per dollar of shareholder equity. This is up 17.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.8 percentage points.
Capital Allocation
MINERVA SURGICAL INC NEW invested $1.4M in research and development in Q3 2023. This represents a decrease of 3.0% from the same quarter a year earlier. Against the prior quarter it is down 4.3%.
MINERVA SURGICAL INC NEW invested $17K in capex in Q3 2023, funding long-term assets and infrastructure. This represents an increase of 750.0% from the same quarter a year earlier. Against the prior quarter it is up 30.8%.
Not reported for Q3 2023.
UTRS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2310-Q | Q2'2310-Q | Q1'2310-Q | Q4'2210-Q | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q | Q4'2110-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.0M-4.9% | $13.4M+3.3% | $12.5M+14.6% | $13.8M+1.2% | $12.6M+0.7% | $13.0M-8.1% | $10.9M-7.6% | $13.6M |
| Cost of Revenue | $5.7M-0.5% | $6.0M+12.5% | $5.5M-0.1% | $6.4M+10.5% | $5.8M+7.5% | $5.3M-1.1% | $5.5M+10.3% | $5.8M |
| Gross Profit | $6.2M-8.7% | $7.4M-3.2% | $7.0M+29.6% | $7.4M-5.8% | $6.8M-4.5% | $7.6M-12.4% | $5.4M-20.8% | $7.8M |
| R&D Expenses | $1.4M-3.0% | $1.5M+15.9% | $1.8M+40.6% | $1.5M+32.4% | $1.5M+6.5% | $1.3M-23.8% | $1.3M+9.0% | $1.1M |
| SG&A Expenses | $4.2M-31.8% | $4.2M+167.4% | $5.4M+7.5% | $1.7M-59.1% | $6.1M+54.1% | $1.6M-84.4% | $5.0M+24.5% | $4.1M |
| Operating Income | -$6.1M+42.0% | -$7.7M-56.3% | -$10.3M-0.1% | -$5.2M+21.9% | -$10.5M-71.1% | -$4.9M+57.6% | -$10.3M-115.0% | -$6.7M |
| EBITDA | -$5.6M+43.5% | -$7.2M-66.5% | -$9.8M-1.1% | -$4.4M+27.4% | -$9.9M-78.8% | -$4.3M+60.8% | -$9.7M-131.5% | -$6.1M |
| Interest Expense | $1.2M+36.1% | $1.1M+60.6% | $1.1M+69.0% | $1.0M-3.7% | $861K-76.2% | $703K-80.5% | $632K-81.7% | $1.1M |
| Income Tax | $3K | $39K | $0 | $11K | $0 | $0 | $0 | N/A |
| Net Income | -$7.2M+36.6% | -$8.7M-54.7% | -$11.3M-3.8% | -$6.2M-157.8% | -$11.3M-251.3% | -$5.6M+60.2% | -$10.9M+26.9% | $10.8M |
| EPS (Basic) | -$0.81+89.8% | -$0.05+75.0% | -$0.12+68.4% | -$0.20-101.7% | -$7.92-588.7% | -$0.20+96.4% | -$0.38 | $11.98 |
| EPS (Diluted) | -$0.81 | -$0.05 | -$0.12 | -$0.20 | -$7.92 | -$0.20 | -$0.38 | $11.98 |
| Diluted Shares (Avg) | 9M | N/A | N/A | N/A | 1M | N/A | N/A | N/A |
UTRS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2310-Q | Q2'2310-Q | Q1'2310-Q | Q4'2210-Q | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q | Q4'2110-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $72.8M-13.1% | $79.3M-15.6% | $85.2M-15.3% | $68.9M-40.1% | $83.8M+3.2% | $94.0M | $100.5M | $115.1M+25.0% |
| Current Assets | $40.0M-18.7% | $46.1M-19.5% | $54.1M-12.0% | $36.1M-51.8% | $49.2M+23.4% | $57.3M | $61.5M | $75.0M+65.1% |
| Cash & Equivalents | $11.1M-26.4% | $15.7M-29.8% | $25.3M-9.5% | $6.9M-82.9% | $15.1M+146.6% | $22.4M | $27.9M | $40.6M+133.9% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $18.2M+6.9% | $17.9M+5.6% | $17.2M+7.4% | $16.9M+7.4% | $17.0M+13.7% | $16.9M | $16.0M | $15.7M+53.7% |
| Accounts Receivable | $7.6M+11.5% | $7.9M+13.2% | $7.4M+3.4% | $7.2M-0.7% | $6.8M+0.5% | $7.0M | $7.2M | $7.3M-13.0% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $52.5M-15.6% | $52.7M-16.5% | $51.1M-22.3% | $51.7M-27.1% | $62.3M-81.0% | $63.1M | $65.8M | $71.0M-77.4% |
| Current Liabilities | $21.3M-7.6% | $18.1M-24.4% | $16.8M-36.4% | $14.3M-37.4% | $23.0M-65.3% | $23.9M | $26.5M | $22.8M-31.4% |
| Non-Current Liabilities | $31.3M-20.4% | $34.6M-11.7% | $34.3M-12.8% | $37.4M-22.3% | $39.3M-85.0% | $39.2M | $39.3M | $48.2M-82.8% |
| Long-Term Debt | $27.9M-29.0% | $31.1M-20.7% | $34.3M-12.5% | $37.4M-4.2% | $39.3M+115.5% | $39.2M | $39.1M | $39.1M+32.8% |
| Total Equity | $20.3M-6.0% | $26.6M-13.8% | $34.1M-1.9% | $17.2M-61.0% | $21.5M+108.7% | $30.9M+112.6% | $34.7M+114.7% | $44.1M+119.9% |
| Retained Earnings | -$310.7M-12.0% | -$303.5M-14.1% | -$294.9M-13.2% | -$283.7M-13.7% | -$277.4M-6.6% | -$266.1M | -$260.5M | -$249.6M-9.4% |
Not reported in any period shown, so not listed: Goodwill.
UTRS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2310-Q | Q2'2310-Q | Q1'2310-Q | Q4'2210-Q | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q | Q4'2110-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.1M+25.1% | -$9.6M-74.8% | -$8.4M-10.0% | -$15.6M-41.3% | -$6.8M-32.9% | -$5.5M-68.2% | -$7.6M-161.0% | -$11.1M-562.7% |
| Depreciation & Amortization | $500K-16.7% | $500K-16.7% | $500K-16.7% | $700K+16.7% | $600K0.0% | $600K0.0% | $600K0.0% | $600K-14.3% |
| Stock-Based Compensation | $833K-57.9% | $1.1M-34.5% | $1.3M-16.3% | N/A | $2.0M+83.9% | $1.7M-62.6% | $1.5M+1062.6% | N/A |
| Capital Expenditures | $17K+750.0% | $13K-68.3% | $75K-8.5% | -$52K-82.9% | $2K-99.5% | $41K-48.8% | $82K-79.6% | -$304K+11.4% |
| Free Cash Flow | -$5.1M+24.9% | -$9.6M-73.8% | -$8.5M-9.8% | -$15.7M-38.0% | -$6.8M-23.1% | -$5.5M-65.5% | -$7.7M-132.0% | -$11.4M-485.2% |
| Investing Cash Flow | -$17K-750.0% | -$13K+68.3% | -$75K+8.5% | $52K-82.9% | -$2K+99.5% | -$41K+48.8% | -$82K+79.6% | $304K+11.4% |
| Financing Cash Flow | $0-100.0% | $79K+338.9% | $26.8M+635.8% | $2K-100.0% | $13K-64.9% | $18K-55.0% | -$5.0M-664.0% | $45.2M+167488.9% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
UTRS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2310-Q | Q2'2310-Q | Q1'2310-Q | Q4'2210-Q | Q3'2210-Q | Q2'2210-Q | Q1'2210-Q | Q4'2110-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.0%-2.1pp | 55.3%-3.7pp | 56.0%+6.5pp | 53.4%-3.9pp | 54.1%-2.9pp | 59.0%-2.9pp | 49.5%-8.2pp | 57.4% |
| Operating Margin | -50.9%+32.5pp | -57.2%-19.4pp | -82.3%+11.9pp | -37.6%+11.1pp | -83.5%-34.4pp | -37.8%+44.1pp | -94.2%-53.7pp | -48.8% |
| Net Margin | -60.0%+30.0pp | -64.8%-21.5pp | -90.5%+9.4pp | -45.2%-124.4pp | -90.0%-64.2pp | -43.3%+56.6pp | -99.9% | 79.2% |
| Return on Equity | -35.4%+17.2pp | -32.6%-14.5pp | -33.3%-1.8pp | -36.3%-60.9pp | -52.6% | -18.2% | -31.4% | 24.5% |
| Return on Assets | -9.9%+3.6pp | -10.9%-5.0pp | -13.3%-2.5pp | -9.1%-18.4pp | -13.5%-9.5pp | -6.0% | -10.9% | 9.4% |
| Current Ratio | 1.88-0.3x | 2.55+0.2x | 3.21+0.9x | 2.53-0.8x | 2.14+1.5x | 2.40 | 2.32 | 3.29+1.9x |
| Debt-to-Equity | 1.38-0.4x | 1.17-0.1x | 1.01-0.1x | 2.18+1.3x | 1.82 | 1.27 | 1.13 | 0.89 |
| Asset Turnover | 0.160.0x | 0.170.0x | 0.150.0x | 0.20+0.1x | 0.150.0x | 0.14 | 0.11 | 0.12 |
| FCF Margin | -42.7%+11.3pp | -71.9%-29.2pp | -67.5%+3.0pp | -113.7% | -54.1%-9.9pp | -42.7%-19.0pp | -70.5%-42.4pp | -83.4% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| MINERVA SURGICAL INC NEW UTRS | FY2022 | $50.3M | -$34.1M | -67.8% | $89 | — |
| THERMOGENESIS HLDGS INC THMO | FY2023 | $9.4M | -$18.9M | N/A | $5.4M | — |
| FUSE MEDICAL INC FZMD | FY2022 | $18.6M | $3.1M | 16.6% | $7.4M | — |
| TALIS BIOMEDICAL CORP TLIS | FY2023 | $2.1M | -$62.0M | N/A | $15.9M | — |
| IR-MED INC IRME | FY2024 | N/A | N/A | N/A | $231K | — |
Where MINERVA SURGICAL INC NEW Ranks
Frequently Asked Questions
What is MINERVA SURGICAL INC NEW's annual revenue?
MINERVA SURGICAL INC NEW (UTRS) reported $50.3M in total revenue for fiscal year 2022. This represents a -3.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is MINERVA SURGICAL INC NEW's revenue growing?
MINERVA SURGICAL INC NEW (UTRS) revenue declined by 3.5% year-over-year, from $52.1M to $50.3M in fiscal year 2022.
Is MINERVA SURGICAL INC NEW profitable?
No, MINERVA SURGICAL INC NEW (UTRS) reported a net income of -$34.1M in fiscal year 2022, with a net profit margin of -67.8%.
What is MINERVA SURGICAL INC NEW's EBITDA?
MINERVA SURGICAL INC NEW (UTRS) had EBITDA of -$28.3M in fiscal year 2022, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does MINERVA SURGICAL INC NEW have?
As of fiscal year 2022, MINERVA SURGICAL INC NEW (UTRS) had $6.9M in cash and equivalents against $37.4M in long-term debt.
What is MINERVA SURGICAL INC NEW's gross margin?
MINERVA SURGICAL INC NEW (UTRS) had a gross margin of 54.2% in fiscal year 2022, indicating the percentage of revenue retained after direct costs of goods sold.
What is MINERVA SURGICAL INC NEW's operating margin?
MINERVA SURGICAL INC NEW (UTRS) had an operating margin of -61.4% in fiscal year 2022, reflecting the profitability of core business operations before interest and taxes.
What is MINERVA SURGICAL INC NEW's net profit margin?
MINERVA SURGICAL INC NEW (UTRS) had a net profit margin of -67.8% in fiscal year 2022, representing the share of revenue converted into profit after all expenses.
What is MINERVA SURGICAL INC NEW's return on equity (ROE)?
MINERVA SURGICAL INC NEW (UTRS) has a return on equity of -198.5% for fiscal year 2022, measuring how efficiently the company generates profit from shareholder equity.
What is MINERVA SURGICAL INC NEW's free cash flow?
MINERVA SURGICAL INC NEW (UTRS) recorded an outflow of $35.6M in free cash flow during fiscal year 2022. This represents a -55.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is MINERVA SURGICAL INC NEW's operating cash flow?
MINERVA SURGICAL INC NEW (UTRS) recorded an outflow of $35.6M in operating cash flow during fiscal year 2022, representing cash used by core business activities.
What are MINERVA SURGICAL INC NEW's total assets?
MINERVA SURGICAL INC NEW (UTRS) had $68.9M in total assets as of fiscal year 2022, including both current and long-term assets.
What are MINERVA SURGICAL INC NEW's capital expenditures?
MINERVA SURGICAL INC NEW (UTRS) invested $73K in capital expenditures during fiscal year 2022, funding long-term assets and infrastructure.
How much does MINERVA SURGICAL INC NEW spend on research and development?
MINERVA SURGICAL INC NEW (UTRS) invested $5.4M in research and development during fiscal year 2022.
What is MINERVA SURGICAL INC NEW's current ratio?
MINERVA SURGICAL INC NEW (UTRS) had a current ratio of 2.53 as of fiscal year 2022, which is generally considered healthy.
What is MINERVA SURGICAL INC NEW's debt-to-equity ratio?
MINERVA SURGICAL INC NEW (UTRS) had a debt-to-equity ratio of 2.18 as of fiscal year 2022, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is MINERVA SURGICAL INC NEW's return on assets (ROA)?
MINERVA SURGICAL INC NEW (UTRS) had a return on assets of -49.5% for fiscal year 2022, measuring how efficiently the company uses its assets to generate profit.
How does MINERVA SURGICAL INC NEW's liquidity compare with its operating cash outflow?
At the end of fiscal year 2022, MINERVA SURGICAL INC NEW (UTRS) held $6.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $35.6M over that year. Dividing the one by the other, the reported balance equals about 2 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is MINERVA SURGICAL INC NEW's Altman Z-Score?
MINERVA SURGICAL INC NEW (UTRS) has an Altman Z-Score of -6.13, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is MINERVA SURGICAL INC NEW's Piotroski F-Score?
MINERVA SURGICAL INC NEW (UTRS) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are MINERVA SURGICAL INC NEW's earnings high quality?
MINERVA SURGICAL INC NEW (UTRS) reported a net loss of $34.1M while operations used $35.6M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can MINERVA SURGICAL INC NEW cover its interest payments?
MINERVA SURGICAL INC NEW (UTRS) reported an operating loss of $30.9M against $3.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.