$ACFN
ACORN ENERGY, INC.

2023 Q4 Form 10-Q Financial Statement

#000149315223040001 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $2.250M $2.087M
YoY Change 21.95% 17.05%
Cost Of Revenue $602.0K $537.0K
YoY Change 22.11% -5.46%
Gross Profit $1.648M $1.550M
YoY Change 21.89% 27.57%
Gross Profit Margin 73.24% 74.27%
Selling, General & Admin $1.309M $1.330M
YoY Change 7.38% 11.02%
% of Gross Profit 79.43% 85.81%
Research & Development $261.0K $212.0K
YoY Change 25.48% -6.61%
% of Gross Profit 15.84% 13.68%
Depreciation & Amortization $41.00K $41.00K
YoY Change 5.13% 13.89%
% of Gross Profit 2.49% 2.65%
Operating Expenses $1.570M $1.542M
YoY Change 10.02% 8.21%
Operating Profit $78.00K $8.000K
YoY Change -204.0% -103.81%
Interest Expense $18.00K $20.00K
YoY Change -1900.0%
% of Operating Profit 23.08% 250.0%
Other Income/Expense, Net
YoY Change
Pretax Income $96.00K $27.00K
YoY Change -226.32% -112.86%
Income Tax $9.000K
% Of Pretax Income 9.38%
Net Earnings $84.00K $24.00K
YoY Change -209.09% -111.43%
Net Earnings / Revenue 3.73% 1.15%
Basic Earnings Per Share $0.01
Diluted Earnings Per Share $0.03 $0.01
COMMON SHARES
Basic Shares Outstanding 2.485M shares 39.76M shares
Diluted Shares Outstanding 2.532M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.449M $1.700M
YoY Change -0.07% 51.25%
Cash & Equivalents $1.449M $1.749M
Short-Term Investments
Other Short-Term Assets $280.0K $343.0K
YoY Change -2.78% 32.95%
Inventory $962.0K $909.0K
Prepaid Expenses
Receivables $536.0K $583.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.036M $4.474M
YoY Change 0.62% 10.09%
LONG-TERM ASSETS
Property, Plant & Equipment $570.0K $610.0K
YoY Change -12.71% -9.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $174.0K $209.0K
YoY Change -19.07% 3.47%
Total Long-Term Assets $1.413M $1.681M
YoY Change -28.38% -16.37%
TOTAL ASSETS
Total Short-Term Assets $4.036M $4.474M
Total Long-Term Assets $1.413M $1.681M
Total Assets $5.449M $6.155M
YoY Change -8.94% 1.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $288.0K $444.0K
YoY Change 18.52% 19.03%
Accrued Expenses $132.0K $127.0K
YoY Change -22.81% -19.11%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.607M $4.987M
YoY Change 0.77% 8.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $20.00K $19.00K
YoY Change 25.0% -99.21%
Total Long-Term Liabilities $20.00K $2.089M
YoY Change -99.17% -13.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.607M $4.987M
Total Long-Term Liabilities $20.00K $2.089M
Total Liabilities $6.275M $7.076M
YoY Change -10.29% 0.81%
SHAREHOLDERS EQUITY
Retained Earnings -$101.1M -$101.2M
YoY Change -0.12% 0.04%
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 -$838.0K -$931.0K
YoY Change
Total Liabilities & Shareholders Equity $5.449M $6.155M
YoY Change -8.94% 1.33%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $84.00K $24.00K
YoY Change -209.09% -111.43%
Depreciation, Depletion And Amortization $41.00K $41.00K
YoY Change 5.13% 13.89%
Cash From Operating Activities -$298.0K $210.0K
YoY Change -187.13% -279.49%
INVESTING ACTIVITIES
Capital Expenditures $8.000K $30.00K
YoY Change -50.0% -230.43%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$8.000K -$30.00K
YoY Change -50.0% 30.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.000K 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -298.0K 210.0K
Cash From Investing Activities -8.000K -30.00K
Cash From Financing Activities -5.000K 0.000
Net Change In Cash -311.0K 180.0K
YoY Change -195.4% -233.33%
FREE CASH FLOW
Cash From Operating Activities -$298.0K $210.0K
Capital Expenditures $8.000K $30.00K
Free Cash Flow -$306.0K $180.0K
YoY Change -193.87% -291.49%

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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
41000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
129000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
317000 usd
ACFN Increase Decrease In Deferred Cost Of Goods Sold
IncreaseDecreaseInDeferredCostOfGoodsSold
-162000 usd
ACFN Increase Decrease In Deferred Cost Of Goods Sold
IncreaseDecreaseInDeferredCostOfGoodsSold
158000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
49000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
62000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
157000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-91000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
40000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
660000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-104000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-97000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-33000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
23000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
366000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-311000 usd
us-gaap Payments For Software
PaymentsForSoftware
70000 usd
us-gaap Payments For Software
PaymentsForSoftware
286000 usd
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
2000 usd
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
6000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-72000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-292000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5000 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 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
299000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-598000 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
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1749000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1124000 usd
us-gaap Interest Paid Net
InterestPaidNet
2000 usd
us-gaap Interest Paid Net
InterestPaidNet
1000 usd
ACFN Accrued Preferred Dividends
AccruedPreferredDividends
3000 usd
ACFN Accrued Preferred Dividends
AccruedPreferredDividends
3000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_804_eus-gaap--NatureOfOperations_zeGSBNiVPMR7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1— <span id="xdx_827_z3E0mIVYjQVl">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><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; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited condensed consolidated financial statements of Acorn Energy, Inc. (“Acorn”) and its subsidiaries, OmniMetrix, LLC (“OmniMetrix”) and OMX Holdings, Inc. (collectively, with Acorn and OmniMetrix, “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 nine- and three-month periods ended September 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; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><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; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><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; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><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; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Reverse Stock Split</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><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; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 5, 2023, the Board of Directors of Acorn approved a Certificate of Amendment to Acorn’s Restated Certificate of Incorporation (the “Certificate of Amendment”) that provided for a <span id="xdx_90D_eus-gaap--StockholdersEquityReverseStockSplit_c20230905__20230905_zOqothpN7So9" title="Reverse stock split">1-for-16 reverse stock split</span> of Acorn’s Common Stock (the “Reverse Stock Split”). Acorn filed the Certificate of Amendment with the Secretary of State of the State of Delaware on September 6, 2023, and the Reverse Stock Split became effective at 5:00 p.m. EDT on September 7, 2023. At the effective time of the Reverse Stock Split, every sixteen issued and outstanding shares of Acorn’s Common Stock were automatically combined into one issued and outstanding share of Common Stock, without any change in the par value per share. Stockholders who would have otherwise been entitled to fractional shares of Common Stock, as a result of the Reverse Stock Split, received a cash payment in lieu of receiving fractional shares. The value of the fractional shares repurchased was $<span id="xdx_90D_eus-gaap--StockRepurchasedDuringPeriodValue_c20230905__20230905_zbafOPLjC7fd" title="Shares repurchased">347</span> and equated to fifty-eight shares. All share and per share amounts of common stock, options and warrants contained in this Quarterly Report on Form 10-Q and the accompanying unaudited condensed consolidated financial statements and related footnotes have been restated for all periods to give retroactive effect to the Reverse Stock Split and the related fractional share repurchase for all prior periods presented. Accordingly, the unaudited Condensed Consolidated Statement of Stockholders’ Deficit reflects the impact of the Reverse Stock Split by reclassifying from “Common Stock” to “Additional paid in capital” an amount equal to the aggregate par value of the number of shares by which the total number of shares outstanding decreased as a result of the Reverse Stock Split.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-16 reverse stock split
CY2023Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
347 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_840_eus-gaap--UseOfEstimates_zypNL98EAYKc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_868_zrXIImaoLtad">Use of Estimates in Preparation of Financial Statements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><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; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><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; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><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; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><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 related to the going concern analysis</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><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-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_843_eus-gaap--ConcentrationRiskCreditRisk_zLOQyfAGdxc1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86A_zlNyrDfaH3Il">Concentrations of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><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; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><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_907_eus-gaap--DepositAssets_iI_c20230930_zBLJvFJjjvlg" title="Deposits assets">1,749,000</span> at September 30, 2023. The Company does not believe there is a significant risk of non-performance by its counterparties. For the three-month period ended September 30, 2023, there were no customers that represented greater than <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230701__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--OneCustomerMember_zuRhjHJUQZz4" title="Concentration risk percentage">10</span>% of the Company’s total invoiced sales. For the nine-month period ended September 30, 2023, there was one customer that represented <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--OneCustomerMember_zMSoEHRzn8Kj" title="Concentration risk percentage">11</span>% of the Company’s total invoiced sales. At September 30, 2023, the Company did not have any customers that represented greater than <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--TwoCustomerMember_zG8BC5MNtHi6" title="Concentration risk percentage">10</span>% of our total accounts receivable. Approximately <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--OneCustomerMember_zgsN0gyr3WB6" title="Concentration risk percentage">12</span>% 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; text-align: justify; text-indent: 0.5in; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3 us-gaap Deposit Assets
DepositAssets
1749000 usd
us-gaap Inventory Write Down
InventoryWriteDown
9000 usd
CY2023Q3 us-gaap Inventory Write Down
InventoryWriteDown
1000 usd
us-gaap Net Income Loss
NetIncomeLoss
35000 usd
us-gaap Net Income Loss
NetIncomeLoss
-556000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
24000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-210000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2484000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2481000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2485000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2481000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
22000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
47000 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2506000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2481000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2532000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2481000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.22
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.22
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1749000 usd
CY2023Q3 ACFN Working Capital
WorkingCapital
-513000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1749000 usd
CY2023Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
4270000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
299000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
366000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-72000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5000 usd
CY2023Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
590000 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
7000 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
3000 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
CY2023Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
7000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
10000 usd
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
859000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
684000 usd
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
50000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
105000 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
909000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
789000 usd
CY2023Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
9000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
4000 usd
us-gaap Inventory Write Down
InventoryWriteDown
9000 usd
CY2023Q3 us-gaap Inventory Write Down
InventoryWriteDown
1000 usd
CY2023Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.045 pure
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
250000 usd
CY2023Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.045 pure
ACFN Cash Paid For Operating Lease Liabilities
CashPaidForOperatingLeaseLiabilities
96000 usd
ACFN Cash Paid For Operating Lease Liabilities
CashPaidForOperatingLeaseLiabilities
93000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y11M26D
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
129000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
132000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
261000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
250000 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
121000 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
CY2023Q3 ACFN Finance Lease Liability Sublease Payments Due Next Twelve Months
FinanceLeaseLiabilitySubleasePaymentsDueNextTwelveMonths
28000 usd
CY2023Q3 ACFN Finance Lease Liability Sublease Payments Due Year Two
FinanceLeaseLiabilitySubleasePaymentsDueYearTwo
29000 usd
CY2023Q3 ACFN Finance Lease Liability Sublease Payments Due
FinanceLeaseLiabilitySubleasePaymentsDue
57000 usd
us-gaap Gross Profit
GrossProfit
4356000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
115000 usd
CY2023Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-16 reverse stock split
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2484791 shares
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2484791 shares
CY2023Q3 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
58966 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.71
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
13436 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.24
ACFN Share Based Compensation Arrangement By Share Based Payment Award Option Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionForfeituresAndExpirationsInPeriod
-1280 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
6.48
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
71122 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.44
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y2M12D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
46000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
61786 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.49
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y10M24D
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
38000 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
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
17000 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
43000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5809000 usd
ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
856000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5155000 usd
us-gaap Gross Profit
GrossProfit
3719000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
85000 usd
ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
237000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2087000 usd
CY2023Q3 us-gaap Gross Profit
GrossProfit
1550000 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
41000 usd
CY2023Q3 ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
366000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1783000 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
1215000 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
36000 usd
CY2022Q3 ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
20000 usd
ACFN Net Income Loss Before Income Taxes For Reportable Segments
NetIncomeLossBeforeIncomeTaxesForReportableSegments
-856000 usd
ACFN Net Income Loss Before Income Taxes For Reportable Segments
NetIncomeLossBeforeIncomeTaxesForReportableSegments
-237000 usd
CY2023Q3 ACFN Net Income Loss Before Income Taxes For Reportable Segments
NetIncomeLossBeforeIncomeTaxesForReportableSegments
-366000 usd
CY2022Q3 ACFN Net Income Loss Before Income Taxes For Reportable Segments
NetIncomeLossBeforeIncomeTaxesForReportableSegments
-20000 usd
ACFN Unallocated Software Impairment
UnallocatedSoftwareImpairment
-51000 usd
ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-814000 usd
ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-741000 usd
CY2023Q3 ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-339000 usd
CY2022Q3 ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
-230000 usd
ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
-42000 usd
ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
555000 usd
CY2023Q3 ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
-27000 usd
CY2022Q3 ACFN Consolidated Net Loss Income Before Income Taxes
ConsolidatedNetLossIncomeBeforeIncomeTaxes
210000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5809000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5155000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2087000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1783000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6171000 usd
ACFN Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
5033000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-4993000 usd
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6211000 usd
CY2023Q3 ACFN Contract With Customer Liability Revenue Additions In Year One
ContractWithCustomerLiabilityRevenueAdditionsInYearOne
4270000 usd
CY2023Q3 ACFN Contract With Customer Liability Revenue Additions In Year Two
ContractWithCustomerLiabilityRevenueAdditionsInYearTwo
1612000 usd
CY2023Q3 ACFN Contract With Customer Liability Revenue Additions In Year Three
ContractWithCustomerLiabilityRevenueAdditionsInYearThree
329000 usd
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6211000 usd
CY2022Q4 us-gaap Deferred Sales Inducements Net
DeferredSalesInducementsNet
1694000 usd
ACFN Deferred Charges Sale Of Equipment Additions
DeferredChargesSaleOfEquipmentAdditions
655000 usd
ACFN Deferred Charges Sale Of Equipment Recognized
DeferredChargesSaleOfEquipmentRecognized
-817000 usd
CY2023Q3 us-gaap Deferred Sales Inducements Net
DeferredSalesInducementsNet
1532000 usd
CY2023Q3 ACFN Deferred Charges Sale Of Equipment In Year One
DeferredChargesSaleOfEquipmentInYearOne
890000 usd
CY2023Q3 ACFN Deferred Charges Sale Of Equipment In Year Two
DeferredChargesSaleOfEquipmentInYearTwo
507000 usd
CY2023Q3 ACFN Deferred Charges Sale Of Equipment In Year Three
DeferredChargesSaleOfEquipmentInYearThree
135000 usd
CY2023Q3 ACFN Deferred Charges Sale Of Equipment
DeferredChargesSaleOfEquipment
1532000 usd
CY2022Q4 ACFN Contract With Customer Asset Sale Commission
ContractWithCustomerAssetSaleCommission
399000 usd
ACFN Contract With Customer Asset Additions
ContractWithCustomerAssetAdditions
191000 usd
us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
176000 usd
CY2023Q3 ACFN Contract With Customer Asset Sale Commission
ContractWithCustomerAssetSaleCommission
414000 usd
CY2023Q3 ACFN Contract With Customer Liability Sales Commissions Expense In Year One
ContractWithCustomerLiabilitySalesCommissionsExpenseInYearOne
218000 usd
CY2023Q3 ACFN Contract With Customer Liability Sales Commissions Expense In Year Two
ContractWithCustomerLiabilitySalesCommissionsExpenseInYearTwo
138000 usd
CY2023Q3 ACFN Contract With Customer Liability Sales Commissions Expense In Year Three
ContractWithCustomerLiabilitySalesCommissionsExpenseInYearThree
58000 usd
CY2023Q3 ACFN Contract With Customer Liability Sales Commissions Expense
ContractWithCustomerLiabilitySalesCommissionsExpense
414000 usd

Files In Submission

Name View Source Status
acfn-20230930_cal.xml Edgar Link unprocessable
acfn-20230930_pre.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
0001493152-23-040001-index-headers.html Edgar Link pending
0001493152-23-040001-index.html Edgar Link pending
0001493152-23-040001.txt Edgar Link pending
0001493152-23-040001-xbrl.zip Edgar Link pending
acfn-20230930.xsd Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
acfn-20230930_def.xml Edgar Link unprocessable
acfn-20230930_lab.xml Edgar Link unprocessable
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