Superior Drilling Products, Inc.

$ Overview Financials Valuation SEC Filings Company Website

2023 Q2 Form 10-Q Financial Statement

#000149315223016571 Filed on May 12, 2023

Income Statement

Concept	2023 Q2	2023 Q1	2022 Q1

Balance Sheet

Concept	2023 Q2	2023 Q1	2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$1.180M	$1.956M	$2.854M
YoY Change	-58.27%	-31.47%	26.16%
Cash & Equivalents	$1.180M	$1.956M	$2.854M
Short-Term Investments
Other Short-Term Assets	$192.5K	$152.2K	$304.2K
YoY Change	117.29%	-49.97%	100.03%
Inventory	$3.152M	$2.249M	$1.024M
Prepaid Expenses	$351.8K	$356.7K
Receivables	$4.688M	$3.960M	$3.156M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$9.564M	$8.673M	$7.339M
YoY Change	24.48%	18.19%	46.41%
LONG-TERM ASSETS
Property, Plant & Equipment	$11.09M	$10.24M	$7.499M
YoY Change	49.27%	36.56%	3.05%
Goodwill
YoY Change
Intangibles		$27.78K
YoY Change
Long-Term Investments
YoY Change
Other Assets	$112.6K	$112.6K	$65.88K
YoY Change	1.9%	70.95%	-21.68%
Total Long-Term Assets	$11.76M	$10.99M	$7.760M
YoY Change	49.78%	41.6%	-1.64%
TOTAL ASSETS
Total Short-Term Assets	$9.564M	$8.673M	$7.339M
Total Long-Term Assets	$11.76M	$10.99M	$7.760M
Total Assets	$21.32M	$19.66M	$15.10M
YoY Change	37.27%	30.22%	17.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$2.434M	$1.664M	$1.245M
YoY Change	122.13%	33.68%	67.87%
Accrued Expenses	$960.0K	$782.1K	$621.6K
YoY Change	12.51%	25.82%	-59.17%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$1.424M	$1.158M	$2.184M
YoY Change	-35.4%	-46.99%	27.69%
Total Short-Term Liabilities	$5.473M	$4.159M	$4.264M
YoY Change	18.89%	-2.46%	4.06%
LONG-TERM LIABILITIES
Long-Term Debt	$448.4K	$489.3K	$4.319M
YoY Change	135.35%	-88.67%	-21.51%
Other Long-Term Liabilities	$1.017M	$1.168M	$7.310K
YoY Change		15882.22%	-36.76%
Total Long-Term Liabilities	$448.4K	$489.3K	$4.326M
YoY Change	135.35%	-88.69%	-21.55%
TOTAL LIABILITIES
Total Short-Term Liabilities	$5.473M	$4.159M	$4.264M
Total Long-Term Liabilities	$448.4K	$489.3K	$4.326M
Total Liabilities	$10.94M	$9.834M	$8.590M
YoY Change	23.29%	14.48%	-10.63%
SHAREHOLDERS EQUITY
Retained Earnings	-$34.05M	-$34.37M
YoY Change	-7.62%
Common Stock	$44.44M	$44.20M
YoY Change	2.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$10.39M	$9.827M	$6.508M
YoY Change
Total Liabilities & Shareholders Equity	$21.32M	$19.66M	$15.10M
YoY Change	37.27%	30.22%	17.03%

Cashflow Statement

Concept	2023 Q2	2023 Q1	2022 Q1

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001600422
CY2023Q1	dei	Amendment Flag AmendmentFlag	false
CY2022Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	21840074	usd
CY2023Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	13547569	usd
CY2023Q1	us-gaap	Assets Current AssetsCurrent	8673433	usd
CY2023Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2023Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2022Q1	SDPI	Recovery Of Related Party Note Receivable RecoveryOfRelatedPartyNoteReceivable		usd
CY2022Q1	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense		usd
CY2022Q1	us-gaap	Proceeds From Collection Of Notes Receivable ProceedsFromCollectionOfNotesReceivable		usd
CY2022Q1	SDPI	Property Plant And Equipment In Accounts Payable PropertyPlantAndEquipmentInAccountsPayable		usd
CY2022Q1	SDPI	Disposal Of Asset Held For Sale DisposalOfAssetHeldForSale		usd
CY2022Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability		usd
CY2023Q1	dei	Document Type DocumentType	10-Q
CY2023Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2023Q1	dei	Document Period End Date DocumentPeriodEndDate	2023-03-31
CY2023Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2023Q1	dei	Entity File Number EntityFileNumber	001-36453
CY2023Q1	dei	Entity Registrant Name EntityRegistrantName	SUPERIOR DRILLING PRODUCTS, INC.
CY2023Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	UT
CY2023Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	46-4341605
CY2023Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	1583 South 1700 East
CY2023Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Vernal
CY2023Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	UT
CY2023Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	84078
CY2023Q1	dei	City Area Code CityAreaCode	435
CY2023Q1	dei	Local Phone Number LocalPhoneNumber	789-0594
CY2023Q1	dei	Security12b Title Security12bTitle	Common Stock, $0.001 par value
CY2023Q1	dei	Trading Symbol TradingSymbol	SDPI
CY2023Q1	dei	Security Exchange Name SecurityExchangeName	NYSEAMER
CY2023Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023Q1	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2023Q1	dei	Entity Small Business EntitySmallBusiness	true
CY2023Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2023Q1	dei	Entity Shell Company EntityShellCompany	false
CY2023Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	29245080	shares
CY2023Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1955903	usd
CY2022Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	2158025	usd
CY2023Q1	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	3959754	usd
CY2022Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	3241221	usd
CY2023Q1	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	356696	usd
CY2022Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	367823	usd
CY2023Q1	us-gaap	Inventory Net InventoryNet	2248861	usd
CY2022Q4	us-gaap	Inventory Net InventoryNet	2081260	usd
CY2022Q4	us-gaap	Assets Held For Sale Not Part Of Disposal Group Current AssetsHeldForSaleNotPartOfDisposalGroupCurrent	216000	usd
CY2023Q1	us-gaap	Other Assets Current OtherAssetsCurrent	152219	usd
CY2022Q4	us-gaap	Other Assets Current OtherAssetsCurrent	140238	usd
CY2022Q4	us-gaap	Assets Current AssetsCurrent	8204567	usd
CY2023Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	10241092	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	8576851	usd
CY2023Q1	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	27778	usd
CY2022Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	69444	usd
CY2023Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	606323	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	638102	usd
CY2023Q1	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	112619	usd
CY2022Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	111519	usd
CY2023Q1	us-gaap	Assets Assets	19661245	usd
CY2022Q4	us-gaap	Assets Assets	17600483	usd
CY2023Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	1664491	usd
CY2022Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	1043581	usd
CY2023Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	782054	usd
CY2022Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	891793	usd
CY2023Q1	us-gaap	Taxes Payable Current TaxesPayableCurrent	427165	usd
CY2022Q4	us-gaap	Taxes Payable Current TaxesPayableCurrent	351618	usd
CY2023Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	51182	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	44273	usd
CY2023Q1	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	76406	usd
CY2022Q4	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	74636	usd
CY2023Q1	us-gaap	Long Term Debt Current LongTermDebtCurrent	1157879	usd
CY2022Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	1125864	usd
CY2022Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	216000	usd
CY2023Q1	us-gaap	Liabilities Current LiabilitiesCurrent	4159177	usd
CY2022Q4	us-gaap	Liabilities Current LiabilitiesCurrent	3747765	usd
CY2023Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	493296	usd
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	523375	usd
CY2023Q1	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	4017280	usd
CY2022Q4	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	4038022	usd
CY2023Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	489303	usd
CY2022Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	529499	usd
CY2023Q1	us-gaap	Deferred Income Noncurrent DeferredIncomeNoncurrent	675000	usd
CY2022Q4	us-gaap	Deferred Income Noncurrent DeferredIncomeNoncurrent	675000	usd
CY2023Q1	us-gaap	Liabilities Liabilities	9834056	usd
CY2022Q4	us-gaap	Liabilities Liabilities	9513661	usd
CY2023Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2022Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2023Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000	shares
CY2022Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000	shares
CY2023Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	29245080	shares
CY2023Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	29245080	shares
CY2022Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	29245080	shares
CY2022Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	29245080	shares
CY2023Q1	us-gaap	Common Stock Value CommonStockValue	29245	usd
CY2022Q4	us-gaap	Common Stock Value CommonStockValue	29245	usd
CY2023Q1	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	44171076	usd
CY2022Q4	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	43943928	usd
CY2023Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-34373132	usd
CY2022Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-35886351	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	9827189	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	8086822	usd
CY2023Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	19661245	usd
CY2022Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	17600483	usd
CY2023Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	6281214	usd
CY2022Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	4130164	usd
CY2023Q1	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	2238597	usd
CY2022Q1	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	1767903	usd
CY2023Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	2338841	usd
CY2022Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	1646643	usd
CY2023Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	326014	usd
CY2022Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	410733	usd
CY2023Q1	us-gaap	Operating Costs And Expenses OperatingCostsAndExpenses	4903452	usd
CY2022Q1	us-gaap	Operating Costs And Expenses OperatingCostsAndExpenses	3825279	usd
CY2023Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	1377762	usd
CY2022Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	304885	usd
CY2023Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	16898	usd
CY2022Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	197	usd
CY2023Q1	us-gaap	Interest Expense InterestExpense	154091	usd
CY2022Q1	us-gaap	Interest Expense InterestExpense	123861	usd
CY2023Q1	SDPI	Recovery Of Related Party Note Receivable RecoveryOfRelatedPartyNoteReceivable	350262	usd
CY2023Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	213069	usd
CY2022Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-123664	usd
CY2023Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	1590831	usd
CY2022Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	181221	usd
CY2023Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	77612	usd
CY2022Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	31384	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	1513219	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	149837	usd
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.05
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.01
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	29245080	shares
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	28235001	shares
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.05
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.01
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	29305216	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	28305101	shares
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	1513219	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	149837	usd
CY2023Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	326014	usd
CY2022Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	410733	usd
CY2023Q1	us-gaap	Share Based Compensation ShareBasedCompensation	227148	usd
CY2022Q1	us-gaap	Share Based Compensation ShareBasedCompensation	210133	usd
CY2023Q1	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	51257	usd
CY2023Q1	us-gaap	Amortization Of Deferred Loan Origination Fees Net AmortizationOfDeferredLoanOriginationFeesNet	-3087	usd
CY2022Q1	us-gaap	Amortization Of Deferred Loan Origination Fees Net AmortizationOfDeferredLoanOriginationFeesNet	-4631	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	718533	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	283974	usd
CY2023Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	167601	usd
CY2022Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-150290	usd
CY2023Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	1954	usd
CY2022Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-186508	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-262804	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	248560	usd
CY2023Q1	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	75547	usd
CY2022Q1	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	6388	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	1045380	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	1083106	usd
CY2023Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1567524	usd
CY2022Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	919127	usd
CY2023Q1	us-gaap	Proceeds From Collection Of Notes Receivable ProceedsFromCollectionOfNotesReceivable	350262	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-1217262	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-919127	usd
CY2023Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	213905	usd
CY2022Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	131978	usd
CY2023Q1	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	472089	usd
CY2022Q1	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	21541	usd
CY2023Q1	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	655754	usd
CY2022Q1	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	21533	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-30240	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-131986	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-202122	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	31993	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	2158025	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	2822100	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	1955903	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	2854093	usd
CY2023Q1	us-gaap	Interest Paid Net InterestPaidNet	151107	usd
CY2022Q1	us-gaap	Interest Paid Net InterestPaidNet	122157	usd
CY2023Q1	SDPI	Property Plant And Equipment In Accounts Payable PropertyPlantAndEquipmentInAccountsPayable	381064	usd
CY2023Q1	SDPI	Disposal Of Asset Held For Sale DisposalOfAssetHeldForSale	216000	usd
CY2023Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	19478	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	8086822	usd
CY2023Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	227148	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	1513219	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	9827189	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	6147928	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	6147928	usd
CY2022Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	210133	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	149837	usd
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	6507898	usd
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	6507898	usd
CY2023Q1	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	265760	usd
CY2023Q1	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_84B_eus-gaap--ConcentrationRiskCreditRisk_zI06CgQKbBAi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_znsDiiNxQDM">Concentrations of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has two significant customers that represented <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TwoCustomersMember_zNzj6hSK9963" title="Concentration risk percentage">87</span>% and <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220331__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TwoCustomersMember_zjBHqZFjbKy6" title="Concentration risk percentage">90</span>% of its revenue for the three months ended March 31, 2023 and 2022, respectively. These customers had approximately $<span id="xdx_90C_eus-gaap--AccountsReceivableNet_iI_pp0p0_c20230331_z0CKvvZUhEj7" title="Accounts receivable">1,880,000</span> and $<span id="xdx_90A_eus-gaap--AccountsReceivableNet_iI_pp0p0_c20221231_zBdvtVmtAZL8" title="Accounts receivable">1,751,000</span> in accounts receivable as of March 31, 2023 and December 31, 2022, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company had two vendors that represented <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchasesMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--TwoVendorsMember_zT2zaipnLFEi" title="Concentration risk percentage"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220331__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchasesMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--TwoVendorsMember_z6OkyO86TUJ3" title="Concentration risk percentage">13</span></span>% of its purchases for each of the three months ended March 31, 2023 and 2002, respectively. These vendors had approximately $<span id="xdx_900_eus-gaap--AccountsPayableCurrent_iI_pp0p0_c20230331__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--TwoVendorsMember_zGGr7YjPCLca" title="Accounts payable current">354,000</span> and $<span id="xdx_905_eus-gaap--AccountsPayableCurrent_iI_pp0p0_c20221231__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--TwoVendorsMember_z7XZGP0sNug2" title="Accounts payable current">136,000</span> in accounts payable as of March 31, 2023 and December 31, 2022, respectively.</span></p>
CY2023Q1	us-gaap	Accounts Receivable Net AccountsReceivableNet	1880000	usd
CY2022Q4	us-gaap	Accounts Receivable Net AccountsReceivableNet	1751000	usd
CY2023Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	6281214	usd
CY2022Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	4130164	usd
CY2022Q4	us-gaap	Property Plant And Equipment Other PropertyPlantAndEquipmentOther	265760	usd
CY2023Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	23788661	usd
CY2023Q1	us-gaap	Inventory Raw Materials InventoryRawMaterials	1156935	usd
CY2022Q4	us-gaap	Inventory Raw Materials InventoryRawMaterials	1334669	usd
CY2023Q1	us-gaap	Inventory Work In Process InventoryWorkInProcess	478906	usd
CY2022Q4	us-gaap	Inventory Work In Process InventoryWorkInProcess	168214	usd
CY2023Q1	us-gaap	Inventory Finished Goods InventoryFinishedGoods	613020	usd
CY2022Q4	us-gaap	Inventory Finished Goods InventoryFinishedGoods	578377	usd
CY2023Q1	us-gaap	Inventory Net InventoryNet	2248861	usd
CY2022Q4	us-gaap	Inventory Net InventoryNet	2081260	usd
CY2023Q1	us-gaap	Land Land	880416	usd
CY2022Q4	us-gaap	Land Land	880416	usd
CY2023Q1	SDPI	Buildings Gross BuildingsGross	4764441	usd
CY2022Q4	SDPI	Buildings Gross BuildingsGross	4764441	usd
CY2023Q1	us-gaap	Leasehold Improvements Gross LeaseholdImprovementsGross	755039	usd
CY2022Q4	us-gaap	Leasehold Improvements Gross LeaseholdImprovementsGross	755039	usd
CY2023Q1	us-gaap	Machinery And Equipment Gross MachineryAndEquipmentGross	16494647	usd
CY2022Q4	us-gaap	Machinery And Equipment Gross MachineryAndEquipmentGross	14546060	usd
CY2023Q1	us-gaap	Furniture And Fixtures Gross FurnitureAndFixturesGross	628358	usd
CY2022Q4	us-gaap	Furniture And Fixtures Gross FurnitureAndFixturesGross	628358	usd
CY2022Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	13263223	usd
CY2023Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	489303	usd
CY2022Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	529499	usd
CY2023Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	10241092	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	8576851	usd
CY2023Q1	us-gaap	Depreciation Depreciation	284347	usd
CY2022Q1	us-gaap	Depreciation Depreciation	369066	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	14872222	usd
CY2022Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	14830556	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	27778	usd
CY2022Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	69444	usd
CY2023Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	41667	usd
CY2022Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	41667	usd
CY2023Q1	us-gaap	Long Term Debt LongTermDebt	1647182	usd
CY2022Q4	us-gaap	Long Term Debt LongTermDebt	1655363	usd
CY2023Q1	us-gaap	Long Term Debt Current LongTermDebtCurrent	1157879	usd
CY2022Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	1125864	usd
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.05
CY2023Q1	us-gaap	Lines Of Credit Current LinesOfCreditCurrent	101000	usd
CY2023Q1	us-gaap	Finance Lease Liability FinanceLeaseLiability	4093686	usd
CY2022Q4	us-gaap	Finance Lease Liability FinanceLeaseLiability	4112658	usd
CY2023Q1	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	76406	usd
CY2022Q4	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	74636	usd
CY2023Q1	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	4017280	usd
CY2022Q4	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	4038022	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	1513219	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	149837	usd
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	29245080	shares
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	28235001	shares
CY2023Q1	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	60136	shares
CY2022Q1	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	70100	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	29305216	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	28305101	shares
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.01
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.05
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.01
CY2023Q1	us-gaap	Operating Lease Expense OperatingLeaseExpense	62748	usd
CY2022Q1	us-gaap	Operating Lease Expense OperatingLeaseExpense	1800	usd
CY2023Q1	us-gaap	Operating Lease Payments OperatingLeasePayments	54138	usd
CY2022Q1	us-gaap	Operating Lease Payments OperatingLeasePayments	38559	usd
CY2023Q1	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P2Y8M12D
CY2022Q1	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P0Y9M
CY2023Q1	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.0725	pure
CY2022Q1	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.0725	pure
CY2023Q1	us-gaap	Revenues Revenues	6281214	usd
CY2022Q1	us-gaap	Revenues Revenues	4130164	usd
CY2023Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	1377762	usd
CY2022Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	304885	usd

Files In Submission

Name	View Source	Status
FilingSummary.xml	Edgar Link	unprocessable
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0001493152-23-016571-index.html	Edgar Link	pending
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ex31-1.htm	Edgar Link	pending
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Financial_Report.xlsx	Edgar Link	pending
form10-q.htm	Edgar Link	pending
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form10-q_htm.xml	Edgar Link	completed
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report.css	Edgar Link	pending
sdpi-20230331.xsd	Edgar Link	pending
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sdpi-20230331_cal.xml	Edgar Link	unprocessable
sdpi-20230331_def.xml	Edgar Link	unprocessable
sdpi-20230331_pre.xml	Edgar Link	unprocessable
sdpi-20230331_lab.xml	Edgar Link	unprocessable

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Superior Drilling Products, Inc.

2023 Q2 Form 10-Q Financial Statement

#000149315223016571 Filed on May 12, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

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