Inrad Optics, Inc.

2024 Q2 Form 10-Q Financial Statement

#000141057824000815 Filed on May 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.496M
YoY Change 25.15%
Cash & Equivalents $2.500M
Short-Term Investments
Other Short-Term Assets $830.7K
YoY Change 421.89%
Inventory $3.381M
Prepaid Expenses
Receivables $1.334M
Other Receivables $0.00
Total Short-Term Assets $8.042M
YoY Change 21.37%
LONG-TERM ASSETS
Property, Plant & Equipment $1.576M
YoY Change 16.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $26.99K
YoY Change 0.0%
Total Long-Term Assets $4.502M
YoY Change 72.38%
TOTAL ASSETS
Total Short-Term Assets $8.042M
Total Long-Term Assets $4.502M
Total Assets $12.54M
YoY Change 35.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $760.0K
YoY Change 2.02%
Accrued Expenses $313.6K
YoY Change 5.2%
Deferred Revenue $1.057M
YoY Change -2.05%
Short-Term Debt $2.500M
YoY Change
Long-Term Debt Due $72.31K
YoY Change 5.62%
Total Short-Term Liabilities $4.703M
YoY Change 114.68%
LONG-TERM LIABILITIES
Long-Term Debt $227.0K
YoY Change -91.89%
Other Long-Term Liabilities $54.03K
YoY Change -85.3%
Total Long-Term Liabilities $281.0K
YoY Change -91.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.703M
Total Long-Term Liabilities $281.0K
Total Liabilities $4.984M
YoY Change -6.97%
SHAREHOLDERS EQUITY
Retained Earnings -$12.74M
YoY Change -21.82%
Common Stock $20.31M
YoY Change 0.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.560M
YoY Change
Total Liabilities & Shareholders Equity $12.54M
YoY Change 35.79%

Cashflow Statement

Concept 2024 Q2 2024 Q1

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Management Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">These unaudited condensed consolidated financial statements and related disclosures have been prepared in conformity with U.S. GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses reported in those financial statements. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment and makes adjustments when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from those estimates and assumptions. Significant changes, if any, in those estimates resulting from continuing changes in the economic environment will be reflected in the consolidated financial statements in future periods.</p>
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CY2024Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
CY2024Q1 inrd Earnings Per Share Diluted Warrants
EarningsPerShareDilutedWarrants
0
CY2023Q1 inrd Dilutive Securities Effect On Basic Earnings Per Share Dilutive Warrants
DilutiveSecuritiesEffectOnBasicEarningsPerShareDilutiveWarrants
0
CY2023Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
CY2023Q1 inrd Earnings Per Share Diluted Warrants
EarningsPerShareDilutedWarrants
0
CY2024Q1 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
0
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
438933
CY2024Q1 inrd Earnings Per Share Diluted Stock Options
EarningsPerShareDilutedStockOptions
0
CY2023Q1 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
0
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
670868
CY2023Q1 inrd Earnings Per Share Diluted Stock Options
EarningsPerShareDilutedStockOptions
0
CY2024Q1 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
1015617
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17189908
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
CY2023Q1 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
91528
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14759188
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2500000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3000000.0
CY2024Q1 us-gaap Revenues
Revenues
2889799
CY2023Q1 us-gaap Revenues
Revenues
2807161
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
14000000.0
CY2024Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.075
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
20000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.92
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0086
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P10Y
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
206675
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.89
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
130001
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
0.87
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
0
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
0
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
76674
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.16
CY2024Q1 inrd Defined Contribution Plan Cash Contributions
DefinedContributionPlanCashContributions
141000
CY2024Q1 us-gaap Other Notes Payable Current
OtherNotesPayableCurrent
72000
CY2023Q4 us-gaap Other Notes Payable Current
OtherNotesPayableCurrent
71000
CY2024Q1 inrd Long Term Notes Payable Other
LongTermNotesPayableOther
227000
CY2023Q4 inrd Long Term Notes Payable Other
LongTermNotesPayableOther
245000
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
900000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
200000
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
200000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
100000
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
100000
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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