$ACFN
ACORN ENERGY, INC.

2023 Q3 Form 10-Q Financial Statement

#000149315223027455 Filed on August 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $2.087M $1.973M
YoY Change 17.05% 21.71%
Cost Of Revenue $537.0K $483.0K
YoY Change -5.46% 28.8%
Gross Profit $1.550M $1.490M
YoY Change 27.57% 19.58%
Gross Profit Margin 74.27% 75.52%
Selling, General & Admin $1.330M $1.219M
YoY Change 11.02% 1.16%
% of Gross Profit 85.81% 81.81%
Research & Development $212.0K $188.0K
YoY Change -6.61% -11.32%
% of Gross Profit 13.68% 12.62%
Depreciation & Amortization $41.00K $38.00K
YoY Change 13.89% 31.03%
% of Gross Profit 2.65% 2.55%
Operating Expenses $1.542M $1.407M
YoY Change 8.21% -4.16%
Operating Profit $8.000K $83.00K
YoY Change -103.81% -137.39%
Interest Expense $20.00K $16.00K
YoY Change -1700.0%
% of Operating Profit 250.0% 19.28%
Other Income/Expense, Net
YoY Change
Pretax Income $27.00K $99.00K
YoY Change -112.86% -144.39%
Income Tax
% Of Pretax Income
Net Earnings $24.00K $96.00K
YoY Change -111.43% -143.05%
Net Earnings / Revenue 1.15% 4.87%
Basic Earnings Per Share $0.01 $0.00
Diluted Earnings Per Share $0.01 $0.00
COMMON SHARES
Basic Shares Outstanding 39.76M shares 39.76M shares
Diluted Shares Outstanding 2.532M shares 39.78K shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.700M $1.573M
YoY Change 51.25% 24.94%
Cash & Equivalents $1.749M $1.573M
Short-Term Investments
Other Short-Term Assets $343.0K $398.0K
YoY Change 32.95% 80.09%
Inventory $909.0K $803.0K
Prepaid Expenses
Receivables $583.0K $701.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.474M $4.392M
YoY Change 10.09% 14.46%
LONG-TERM ASSETS
Property, Plant & Equipment $610.0K $614.0K
YoY Change -9.63% -10.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $209.0K $224.0K
YoY Change 3.47% 25.84%
Total Long-Term Assets $1.681M $1.817M
YoY Change -16.37% -8.51%
TOTAL ASSETS
Total Short-Term Assets $4.474M $4.392M
Total Long-Term Assets $1.681M $1.817M
Total Assets $6.155M $6.209M
YoY Change 1.33% 6.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $444.0K $321.0K
YoY Change 19.03% -5.59%
Accrued Expenses $127.0K $157.0K
YoY Change -19.11% 0.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.987M $4.781M
YoY Change 8.32% 11.39%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $19.00K $18.00K
YoY Change -99.21% -99.21%
Total Long-Term Liabilities $2.089M $2.391M
YoY Change -13.5% 4.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.987M $4.781M
Total Long-Term Liabilities $2.089M $2.391M
Total Liabilities $7.076M $7.172M
YoY Change 0.81% 9.03%
SHAREHOLDERS EQUITY
Retained Earnings -$101.2M -$101.3M
YoY Change 0.04% 0.27%
Common Stock $103.3M $103.3M
YoY Change 0.06% 0.06%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.036M $3.036M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity -$931.0K -$971.0K
YoY Change
Total Liabilities & Shareholders Equity $6.155M $6.209M
YoY Change 1.33% 6.63%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $24.00K $96.00K
YoY Change -111.43% -143.05%
Depreciation, Depletion And Amortization $41.00K $38.00K
YoY Change 13.89% 31.03%
Cash From Operating Activities $210.0K $238.0K
YoY Change -279.49% -157.35%
INVESTING ACTIVITIES
Capital Expenditures $30.00K $11.00K
YoY Change -230.43% -110.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$30.00K -$11.00K
YoY Change 30.43% -90.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities 210.0K 238.0K
Cash From Investing Activities -30.00K -11.00K
Cash From Financing Activities 0.000 0.000
Net Change In Cash 180.0K 227.0K
YoY Change -233.33% -143.24%
FREE CASH FLOW
Cash From Operating Activities $210.0K $238.0K
Capital Expenditures $30.00K $11.00K
Free Cash Flow $180.0K $227.0K
YoY Change -291.49% -174.43%

Facts In Submission

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NoncashLeaseExpense
63000 usd
ACFN Noncash Lease Expense
NoncashLeaseExpense
59000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
30000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
53000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
104000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-292000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
22000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
298000 usd
ACFN Increase Decrease In Deferred Cost Of Goods Sold
IncreaseDecreaseInDeferredCostOfGoodsSold
-44000 usd
ACFN Increase Decrease In Deferred Cost Of Goods Sold
IncreaseDecreaseInDeferredCostOfGoodsSold
117000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
119000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
1000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
64000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-125000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
196000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
242000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-67000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-62000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-29000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
9000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
155000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-194000 usd
us-gaap Payments For Software
PaymentsForSoftware
37000 usd
us-gaap Payments For Software
PaymentsForSoftware
266000 usd
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
3000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-37000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-269000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
5000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
123000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-463000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1450000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1722000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1573000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1259000 usd
us-gaap Interest Paid Net
InterestPaidNet
1000 usd
us-gaap Interest Paid Net
InterestPaidNet
1000 usd
ACFN Accrued Preferred Dividends
AccruedPreferredDividends
2000 usd
ACFN Accrued Preferred Dividends
AccruedPreferredDividends
2000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_804_eus-gaap--NatureOfOperations_zBv0nIlkPcqj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1— <span id="xdx_826_zHqt9Hrav9J5">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited condensed consolidated financial statements of Acorn Energy, Inc. and its subsidiaries, OmniMetrix, LLC and OMX Holdings, Inc. (collectively, “Acorn” or “the Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete consolidated financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the six- and three-month periods ended June 30, 2023 and 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. All dollar amounts are rounded to the nearest thousand and, thus, are approximate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission on March 16, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_847_eus-gaap--UseOfEstimates_zyV1bFBgHKI5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zDlyEN8D59ui">Use of Estimates in Preparation of Financial Statements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of unaudited condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As applicable to these unaudited condensed consolidated financial statements, the most significant estimates and assumptions relate to uncertainties with respect to revenue recognition and management’s projections.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zdOnEoYjpHgf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zs4UcPamtUtl">Concentrations of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and trade accounts receivable. The Company’s cash was deposited with a U.S. bank and amounted to $<span id="xdx_901_eus-gaap--DepositAssets_iI_c20230630_zscmV4hvgW5">1,573,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">at June 30, 2023. The Company does not believe there is a significant risk of non-performance by its counterparties. For the three- and six-month periods ended June 30, 2023, there was one customer (the same customer in both periods) that represented <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--OneCustomerMember_zAFldx2yk56a">21</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% and <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--OneCustomerMember_zoHOaAsyvix8">15</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of the Company’s total invoiced sales, respectively. At June 30, 2023, the Company had two customers that represented greater than <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--TwoCustomerMember_zRzQbJtlDBy3">10</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of our accounts receivable with balances representing <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--OneCustomerMember_zgVIliJwzAt">25</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% and <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--TwoCustomerMember_zzPaTN4z30Bf">14</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of the Company’s total accounts receivable. As of August 8, 2023, we have collected <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230808__20230808__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--TwoCustomerMember_zuGwBNJ0oVQ6">64</span>% of the outstanding amount of $<span id="xdx_90E_ecustom--DebtInstrumentOutstandingAmount_c20230808__20230808__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--TwoCustomerMember_zacX2CJyxhCk" title="Outstanding amount">277,000</span>, in the aggregate due from these two customers as of June 30, 2023. This represents <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230630__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--TwoCustomerMember_zDNVBbTi0W8d">100</span>% from one of the two customers which had $<span id="xdx_900_ecustom--DebtInstrumentOutstandingAmount_c20230630__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--TwoCustomerMember_zCuBzLu4rRF6" title="Outstanding amount">177,000</span> outstanding. Approximately <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--OneCustomerMember_z3960nkYkuVd">12</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of the accounts receivable at December 31, 2022 was due from one customer which was subsequently collected in full. Credit risk with respect to the balance of trade receivables is generally diversified due to the number of entities comprising the Company’s customer base. Although we do not believe there is significant risk of non-performance by these counterparties, any failures or defaults on their part could negatively impact the value of our financial instruments and could have a material adverse effect on our business, operations or financial condition.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2 us-gaap Deposit Assets
DepositAssets
1573000 usd
us-gaap Inventory Write Down
InventoryWriteDown
8000 usd
CY2023Q2 us-gaap Inventory Write Down
InventoryWriteDown
5000 usd
us-gaap Net Income Loss
NetIncomeLoss
11000 usd
us-gaap Net Income Loss
NetIncomeLoss
-346000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
96000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-223000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39746 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39688 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39758 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39688 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
34 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
26 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39780 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39688 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39784 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39688 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1573000 usd
CY2023Q2 ACFN Working Capital
WorkingCapital
-389000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1573000 usd
CY2023Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
4154000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
123000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
155000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-37000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5000 usd
CY2023Q3 us-gaap Cash
Cash
1738000 usd
CY2023Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
707000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
6000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
10000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
6000 usd
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
2000 usd
CY2022 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
3000 usd
us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
6000 usd
CY2022 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
-1000 usd
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
6000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
10000 usd
CY2023Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
729000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
684000 usd
CY2023Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
74000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
105000 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
803000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
789000 usd
CY2023Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
4000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
4000 usd
us-gaap Inventory Write Down
InventoryWriteDown
8000 usd
CY2023Q2 us-gaap Inventory Write Down
InventoryWriteDown
5000 usd
CY2023Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.045 pure
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
279000 usd
CY2023Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.045 pure
ACFN Cash Paid For Operating Lease Liabilities
CashPaidForOperatingLeaseLiabilities
63000 usd
ACFN Cash Paid For Operating Lease Liabilities
CashPaidForOperatingLeaseLiabilities
62000 usd
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
39757589 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
39757589 shares
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M26D
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
129000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
131000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
33000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
293000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
14000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
279000 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
119000 usd
CY2021Q3 us-gaap Sublease Income
SubleaseIncome
2375 usd
CY2021Q3 ACFN Estimated Sublease Payments
EstimatedSubleasePayments
6100 usd
CY2021Q3 ACFN Annual Service Cost
AnnualServiceCost
2220 usd
CY2023Q2 ACFN Finance Lease Liability Sublease Payments Due Next Twelve Months
FinanceLeaseLiabilitySubleasePaymentsDueNextTwelveMonths
28000 usd
CY2023Q2 ACFN Finance Lease Liability Sublease Payments Due Year Two
FinanceLeaseLiabilitySubleasePaymentsDueYearTwo
29000 usd
CY2023Q2 ACFN Finance Lease Liability Sublease Payments Due Year Three
FinanceLeaseLiabilitySubleasePaymentsDueYearThree
7000 usd
CY2023Q2 ACFN Finance Lease Liability Sublease Payments Due
FinanceLeaseLiabilitySubleasePaymentsDue
64000 usd
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
943790 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.42
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y3M18D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
16000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
215000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.33
ACFN Share Based Compensation Arrangement By Share Based Payment Award Option Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionForfeituresAndExpirationsInPeriod
-20501 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.40
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1138289 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.40
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y6M
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
8000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
899258 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.41
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
8000 usd
ACFN Fair Value Of Options Granted
FairValueOfOptionsGranted
46000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.039 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y1M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.945 pure
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
43000 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
59000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3722000 usd
us-gaap Gross Profit
GrossProfit
2806000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
76000 usd
ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
490000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3372000 usd
us-gaap Gross Profit
GrossProfit
2504000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
49000 usd
ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
217000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1973000 usd
CY2023Q2 us-gaap Gross Profit
GrossProfit
1490000 usd
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
38000 usd
CY2023Q2 ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
339000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1621000 usd
CY2022Q2 us-gaap Gross Profit
GrossProfit
1246000 usd
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
29000 usd
CY2022Q2 ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
49000 usd
ACFN Net Income Loss Before Income Taxes For Reportable Segments
NetIncomeLossBeforeIncomeTaxesForReportableSegments
-490000 usd
ACFN Net Income Loss Before Income Taxes For Reportable Segments
NetIncomeLossBeforeIncomeTaxesForReportableSegments
-217000 usd
CY2023Q2 ACFN Net Income Loss Before Income Taxes For Reportable Segments
NetIncomeLossBeforeIncomeTaxesForReportableSegments
-339000 usd
CY2022Q2 ACFN Net Income Loss Before Income Taxes For Reportable Segments
NetIncomeLossBeforeIncomeTaxesForReportableSegments
-49000 usd
ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-475000 usd
ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-511000 usd
CY2023Q2 ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-240000 usd
CY2022Q2 ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-221000 usd
ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
-15000 usd
ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
294000 usd
CY2023Q2 ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
-99000 usd
CY2022Q2 ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
172000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3722000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3372000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1973000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1621000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6171000 usd
ACFN Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
3478000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-3282000 usd
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6367000 usd
CY2023Q2 ACFN Contract With Customer Liability Revenue Additions In Year One
ContractWithCustomerLiabilityRevenueAdditionsInYearOne
4154000 usd
CY2023Q2 ACFN Contract With Customer Liability Revenue Additions In Year Two
ContractWithCustomerLiabilityRevenueAdditionsInYearTwo
1783000 usd
CY2023Q2 ACFN Contract With Customer Liability Revenue Additions In Year Three
ContractWithCustomerLiabilityRevenueAdditionsInYearThree
430000 usd
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6367000 usd
CY2022Q4 us-gaap Deferred Sales Inducements Net
DeferredSalesInducementsNet
1694000 usd
ACFN Contract With Customer Liability Additions Net Of Adjustments
ContractWithCustomerLiabilityAdditionsNetOfAdjustments
496000 usd
ACFN Contract With Customer Liability Sales Recognized
ContractWithCustomerLiabilitySalesRecognized
-540000 usd
CY2023Q2 us-gaap Deferred Sales Inducements Net
DeferredSalesInducementsNet
1650000 usd
CY2023Q2 ACFN Contract With Customer Liability Recognized Cost Of Sales In Year One
ContractWithCustomerLiabilityRecognizedCostOfSalesInYearOne
917000 usd
CY2023Q2 ACFN Contract With Customer Liability Recognized Cost Of Sales In Year Two
ContractWithCustomerLiabilityRecognizedCostOfSalesInYearTwo
563000 usd
CY2023Q2 ACFN Contract With Customer Liability Recognized Cost Of Sales In Year Three
ContractWithCustomerLiabilityRecognizedCostOfSalesInYearThree
170000 usd
CY2023Q2 ACFN Contract With Customer Liability Recognized Cost Of Sales
ContractWithCustomerLiabilityRecognizedCostOfSales
1650000 usd
CY2022Q4 ACFN Contract With Customer Asset Sale Commission
ContractWithCustomerAssetSaleCommission
399000 usd
ACFN Contract With Customer Asset Additions
ContractWithCustomerAssetAdditions
145000 usd
us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
114000 usd
CY2023Q2 ACFN Contract With Customer Asset Sale Commission
ContractWithCustomerAssetSaleCommission
430000 usd
CY2023Q2 ACFN Contract With Customer Liability Sales Commissions Expense In Year One
ContractWithCustomerLiabilitySalesCommissionsExpenseInYearOne
218000 usd
CY2023Q2 ACFN Contract With Customer Liability Sales Commissions Expense In Year Two
ContractWithCustomerLiabilitySalesCommissionsExpenseInYearTwo
145000 usd
CY2023Q2 ACFN Contract With Customer Liability Sales Commissions Expense In Year Three
ContractWithCustomerLiabilitySalesCommissionsExpenseInYearThree
67000 usd
CY2023Q2 ACFN Contract With Customer Liability Sales Commissions Expense
ContractWithCustomerLiabilitySalesCommissionsExpense
430000 usd

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acfn-20230630.xsd Edgar Link pending
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