Company: PTPI
Filing Date: 2025-02-10
Form Type: S-1/A
Source: 0001410578-25-000108
Chunk: 261

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-02-10
Form: S-1/A
Chunk 261
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 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires disclosure in the notes to the financial statements of specified information about certain costs and expenses. The amendments are effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The amendments should be applied either prospectively to financial statements issued for reporting periods after the effective date of this ASU or retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the new guidance to determine the impact it may have on its consolidated financial statements and related disclosures.

3) Accounts Receivable, net

Accounts receivable, net is comprised of the following:

| ​                              
 ​                              | ​ 
 ​ | ​    
 ​    
 2024 |             ​ 
 September 30, | ​ | ​    
 ​    
 2023 |            ​ 
 December 31, |
|:-------------------------------|:--|:-----|--------------:|:--|:-----|-------------:|
| Gross accounts receivables     | ​ | $    |     2,299,300 | ​ | $    |    2,887,317 |
| Distribution service fees      |   | ​    |      -114,073 | ​ | ​    |     -398,968 |
| Chargebacks accrual            |   | ​    |        -2,946 | ​ | ​    |       -2,462 |
| Cash discount allowances       |   | ​    |       -26,066 | ​ | ​    |      -24,639 |
| Allowance for credit losses    |   | ​    |      -207,602 | ​ | ​    |     -235,097 |
| Total accounts receivable, net | ​ | $    |     1,948,613 | ​ | $    |    2,226,151 |

For the nine months ended September 30, 2024, gross billings to customers representing 10% or more of the Company’s total gross billings included customers which represented approximately %, %, and % of total gross billings, respectively. For the nine months ended September 30, 2023, gross bill