$ACFN
ACORN ENERGY, INC.

2024 Q2 Form 10-Q Financial Statement

#000149315224018334 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $2.275M $2.132M $1.749M
YoY Change 15.31% 21.9% -0.11%
Cost Of Revenue $610.0K $541.0K $433.0K
YoY Change 26.29% 24.94% -12.17%
Gross Profit $1.665M $1.591M $1.316M
YoY Change 11.74% 20.9% 4.61%
Gross Profit Margin 73.19% 74.62% 75.24%
Selling, General & Admin $1.181M $1.275M $1.197M
YoY Change -3.12% 6.52% 1.27%
% of Gross Profit 70.93% 80.14% 90.96%
Research & Development $226.0K $238.0K $214.0K
YoY Change 20.21% 11.21% 8.08%
% of Gross Profit 13.57% 14.96% 16.26%
Depreciation & Amortization $30.00K $28.00K $38.00K
YoY Change -21.05% -26.32% 90.0%
% of Gross Profit 1.8% 1.76% 2.89%
Operating Expenses $1.407M $1.513M $1.411M
YoY Change 0.0% 7.23% 2.25%
Operating Profit $258.0K $78.00K -$95.00K
YoY Change 210.84% -182.11% -22.13%
Interest Expense $18.00K $15.00K
YoY Change 12.5%
% of Operating Profit 6.98% 19.23%
Other Income/Expense, Net $11.00K
YoY Change
Pretax Income $276.0K $93.00K -$84.00K
YoY Change 178.79% -210.71% -31.15%
Income Tax $25.00K
% Of Pretax Income 26.88%
Net Earnings $271.0K $65.00K -$85.00K
YoY Change 182.29% -176.47% -30.33%
Net Earnings / Revenue 11.91% 3.05% -4.86%
Basic Earnings Per Share $0.11 $0.03 $0.00
Diluted Earnings Per Share $0.11 $0.03 $0.00
COMMON SHARES
Basic Shares Outstanding 2.487M shares 2.487M shares 39.76M shares
Diluted Shares Outstanding 2.507M shares 2.494M shares 39.73K shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.463M $1.417M $1.346M
YoY Change -6.99% 5.27% -24.55%
Cash & Equivalents $1.463M $1.417M $1.346M
Short-Term Investments
Other Short-Term Assets $392.0K $285.0K $312.0K
YoY Change -1.51% -8.65% -70.54%
Inventory $731.0K $788.0K $804.0K
Prepaid Expenses
Receivables $540.0K $487.0K $771.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.734M $3.686M $4.131M
YoY Change -14.98% -10.77% -4.75%
LONG-TERM ASSETS
Property, Plant & Equipment $552.0K $544.0K $641.0K
YoY Change -10.1% -15.13% -37.77%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $118.0K $142.0K $211.0K
YoY Change -47.32% -32.7% -78.47%
Total Long-Term Assets $1.035M $1.193M $1.883M
YoY Change -43.04% -36.64% -6.32%
TOTAL ASSETS
Total Short-Term Assets $3.734M $3.686M $4.131M
Total Long-Term Assets $1.035M $1.193M $1.883M
Total Assets $4.769M $4.879M $6.014M
YoY Change -23.19% -18.87% -5.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $288.0K $208.0K $361.0K
YoY Change -10.28% -42.38% -30.04%
Accrued Expenses $123.0K $124.0K $137.0K
YoY Change -21.66% -9.49% -59.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.157M $4.306M $4.711M
YoY Change -13.05% -8.6% 3.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $22.00K $21.00K $18.00K
YoY Change 22.22% 16.67% -99.24%
Total Long-Term Liabilities $22.00K $21.00K $2.377M
YoY Change -99.08% -99.12% 0.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.157M $4.306M $4.711M
Total Long-Term Liabilities $22.00K $21.00K $2.377M
Total Liabilities $5.202M $5.598M $7.088M
YoY Change -27.47% -21.02% 2.61%
SHAREHOLDERS EQUITY
Retained Earnings -$100.8M -$101.1M -$101.4M
YoY Change -0.44% -0.27%
Common Stock $103.4M $103.4M $103.3M
YoY Change 0.07% 0.08%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.036M $3.036M $3.036M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity -$451.0K -$733.0K -$1.080M
YoY Change
Total Liabilities & Shareholders Equity $4.769M $4.879M $6.014M
YoY Change -23.19% -18.87% -5.25%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $271.0K $65.00K -$85.00K
YoY Change 182.29% -176.47% -30.33%
Depreciation, Depletion And Amortization $30.00K $28.00K $38.00K
YoY Change -21.05% -26.32% 90.0%
Cash From Operating Activities $84.00K -$43.00K -$83.00K
YoY Change -64.71% -48.19% -137.56%
INVESTING ACTIVITIES
Capital Expenditures $38.00K $2.000K $26.00K
YoY Change 245.45% -92.31% -116.35%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$38.00K -$2.000K -$26.00K
YoY Change 245.45% -92.31% -83.65%
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 $13.00K $5.000K
YoY Change 160.0%
NET CHANGE
Cash From Operating Activities 84.00K -$43.00K -$83.00K
Cash From Investing Activities -38.00K -$2.000K -$26.00K
Cash From Financing Activities 0.000 $13.00K $5.000K
Net Change In Cash 46.00K -$32.00K -$104.0K
YoY Change -79.74% -69.23% -267.74%
FREE CASH FLOW
Cash From Operating Activities $84.00K -$43.00K -$83.00K
Capital Expenditures $38.00K $2.000K $26.00K
Free Cash Flow $46.00K -$45.00K -$109.0K
YoY Change -79.74% -58.72% -128.68%

Facts In Submission

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<p id="xdx_804_eus-gaap--NatureOfOperations_zfsN7BxHsZCh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1— <span id="xdx_82E_zhd0y86VyPk7">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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. (“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. The December 31, 2023 consolidated balance sheet data were derived from audited financial statements but do not include all disclosures required by accounting principles generally accepted in the United States of America. 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 three-month periods ended March 31, 2024 and 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All dollar amounts, except per share data, are rounded to the nearest thousand and, thus, are approximate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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, 2023, filed with the Securities and Exchange Commission on March 7, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"><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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><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_zoPNMqJGXQne" title="Reverse stock split">1-for-16</span> reverse stock split 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_zQ9MqLDDxu2i" 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 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: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><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
CY2023Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
347 usd
CY2024Q1 ACFN Finance Lease Liability Sublease Payments Due Year Two
FinanceLeaseLiabilitySubleasePaymentsDueYearTwo
14000 usd
CY2024Q1 ACFN Finance Lease Liability Sublease Payments Due
FinanceLeaseLiabilitySubleasePaymentsDue
43000 usd
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_840_eus-gaap--UseOfEstimates_zEqZ7cxlpIv" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_864_zE7nvRBsr80h">Use of Estimates in Preparation of Financial Statements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_846_eus-gaap--ConcentrationRiskCreditRisk_zWfV8gtSQngh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><span id="xdx_86C_zVYbsqOoH3Ll">Concentrations of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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_90E_eus-gaap--DepositAssets_iI_c20240331_zsKyKjKnmVTc" title="Deposits assets">1,417,000</span> at March 31, 2024. The Company does not believe there is a significant risk of non-performance by its counterparties. For the three-month period ended March 31, 2024, there were no customers that represented greater than <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--OneCustomerMember_z0tsyZtIu9kk" title="Concentration risk percentage">10</span>% of the Company’s total invoiced sales. At March 31, 2024, the Company had one customer that represented <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--TwoCustomerMember_z0Ce1n77RI9f" title="Concentration risk percentage">13</span>% of our total accounts receivable which was subsequently collected in full. Approximately <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--ProductOrServiceAxis__custom--TwoCustomerMember_zBqqU6StyJai" title="Concentration risk percentage">25</span>% of the accounts receivable at December 31, 2023 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>
CY2024Q1 us-gaap Deposit Assets
DepositAssets
1417000 usd
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
34000 shares
CY2024Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
7.77
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
65000 shares
CY2023Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
6.56
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
65000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-85000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2486000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2483000 shares
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
8000 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2494000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2483000 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1417000 usd
CY2024Q1 ACFN Working Capital
WorkingCapital
-620000 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1417000 usd
CY2024Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
3823000 usd
CY2024Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-556000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-32000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-43000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
13000 usd
CY2024Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
493000 usd
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
6000 usd
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
10000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
10000 usd
CY2024Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
-7000 usd
CY2023 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
2000 usd
CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
-3000 usd
CY2023 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
2000 usd
CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
6000 usd
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
10000 usd
CY2024Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
720000 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
904000 usd
CY2024Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
68000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
58000 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
788000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
962000 usd
CY2024Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
9000 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
8000 usd
CY2024Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.045 pure
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
190000 usd
CY2024Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.045 pure
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2537485 shares
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2487307 shares
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q1 ACFN Cash Paid For Operating Lease Liabilities
CashPaidForOperatingLeaseLiabilities
32000 usd
CY2023Q1 ACFN Cash Paid For Operating Lease Liabilities
CashPaidForOperatingLeaseLiabilities
31000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
129000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
67000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
196000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
190000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
124000 usd
CY2021Q3 us-gaap Sublease Income
SubleaseIncome
2375 usd
CY2024Q1 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
2000 usd
CY2021Q3 ACFN Annual Service Cost
AnnualServiceCost
2750 usd
CY2024Q1 ACFN Finance Lease Liability Sublease Payments Due Next Twelve Months
FinanceLeaseLiabilitySubleasePaymentsDueNextTwelveMonths
29000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
71893 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.41
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y9M18D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
40000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
7900 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.08
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
2812 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.12
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
76981 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.42
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
85000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
66106 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.46
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y7M6D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
74000 usd
CY2024Q1 ACFN Fair Value Of Options Granted
FairValueOfOptionsGranted
47000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0392 pure
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y10M24D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.941 pure
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
45000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2132000 usd
CY2024Q1 us-gaap Gross Profit
GrossProfit
1591000 usd
CY2024Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
28000 usd
CY2024Q1 ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
398000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1749000 usd
CY2023Q1 us-gaap Gross Profit
GrossProfit
1316000 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
38000 usd
CY2023Q1 ACFN Segment Income Loss Before Income Taxes
SegmentIncomeLossBeforeIncomeTaxes
151000 usd
CY2024Q1 ACFN Net Income Loss Before Income Taxes For Reportable Segments
NetIncomeLossBeforeIncomeTaxesForReportableSegments
398000 usd
CY2023Q1 ACFN Net Income Loss Before Income Taxes For Reportable Segments
NetIncomeLossBeforeIncomeTaxesForReportableSegments
151000 usd
CY2024Q1 ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
305000 usd
CY2023Q1 ACFN Unallocated Cost Of Corporate Headquarters
UnallocatedCostOfCorporateHeadquarters
235000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
93000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-84000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2132000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1749000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5584000 usd
CY2024Q1 ACFN Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
1081000 usd
CY2024Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-1637000 usd
CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5028000 usd
CY2024Q1 ACFN Contract With Customer Liability Revenue Additions In Year One
ContractWithCustomerLiabilityRevenueAdditionsInYearOne
3823000 usd
CY2024Q1 ACFN Contract With Customer Liability Revenue Additions In Year Two
ContractWithCustomerLiabilityRevenueAdditionsInYearTwo
1144000 usd
CY2024Q1 ACFN Contract With Customer Liability Revenue Additions In Year Three
ContractWithCustomerLiabilityRevenueAdditionsInYearThree
61000 usd
CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5028000 usd
CY2023Q4 us-gaap Deferred Sales Inducements Net
DeferredSalesInducementsNet
1285000 usd
CY2024Q1 ACFN Deferred Charges Sale Of Equipment Recognized
DeferredChargesSaleOfEquipmentRecognized
-235000 usd
CY2024Q1 us-gaap Deferred Sales Inducements Net
DeferredSalesInducementsNet
1050000 usd
CY2024Q1 ACFN Deferred Charges Sale Of Equipment In Year One
DeferredChargesSaleOfEquipmentInYearOne
709000 usd
CY2024Q1 ACFN Deferred Charges Sale Of Equipment In Year Two
DeferredChargesSaleOfEquipmentInYearTwo
316000 usd
CY2024Q1 ACFN Deferred Charges Sale Of Equipment In Year Three
DeferredChargesSaleOfEquipmentInYearThree
25000 usd
CY2024Q1 ACFN Deferred Charges Sale Of Equipment
DeferredChargesSaleOfEquipment
1050000 usd
CY2023Q4 ACFN Contract With Customer Asset Sale Commission
ContractWithCustomerAssetSaleCommission
364000 usd
CY2024Q1 ACFN Contract With Customer Asset Additions
ContractWithCustomerAssetAdditions
8000 usd
CY2024Q1 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
58000 usd
CY2024Q1 ACFN Contract With Customer Asset Sale Commission
ContractWithCustomerAssetSaleCommission
314000 usd
CY2024Q1 ACFN Contract With Customer Liability Sales Commissions Expense In Year One
ContractWithCustomerLiabilitySalesCommissionsExpenseInYearOne
184000 usd
CY2024Q1 ACFN Contract With Customer Liability Sales Commissions Expense In Year Two
ContractWithCustomerLiabilitySalesCommissionsExpenseInYearTwo
101000 usd
CY2024Q1 ACFN Contract With Customer Liability Sales Commissions Expense In Year Three
ContractWithCustomerLiabilitySalesCommissionsExpenseInYearThree
29000 usd
CY2024Q1 ACFN Contract With Customer Liability Sales Commissions Expense
ContractWithCustomerLiabilitySalesCommissionsExpense
314000 usd

Files In Submission

Name View Source Status
acfn-20240331_cal.xml Edgar Link unprocessable
0001493152-24-018334-index-headers.html Edgar Link pending
0001493152-24-018334-index.html Edgar Link pending
0001493152-24-018334.txt Edgar Link pending
0001493152-24-018334-xbrl.zip Edgar Link pending
acfn-20240331.xsd Edgar Link pending
ex31-1.htm Edgar Link pending
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ex32-1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
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acfn-20240331_def.xml Edgar Link unprocessable
acfn-20240331_lab.xml Edgar Link unprocessable
acfn-20240331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
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