$AEYE
AUDIOEYE INC

2022 Q2 Form 10-Q Financial Statement

#000141057822001481 Filed on May 13, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $7.569M $6.906M $6.492M
YoY Change 25.71% 19.32% 16.14%
Cost Of Revenue $1.841M $1.710M $1.689M
YoY Change 21.76% 26.39% 14.12%
Gross Profit $5.728M $5.196M $4.803M
YoY Change 27.03% 17.16% 16.86%
Gross Profit Margin 75.68% 75.24% 73.98%
Selling, General & Admin $6.402M $7.282M $8.451M
YoY Change 1.67% 18.14% 26.51%
% of Gross Profit 111.77% 140.15% 175.95%
Research & Development $1.406M $1.529M $1.354M
YoY Change 7.57% 48.16% 214.88%
% of Gross Profit 24.55% 29.43% 28.19%
Depreciation & Amortization $622.0K $387.0K $365.0K
YoY Change 94.38% 38.21% 14.06%
% of Gross Profit 10.86% 7.45% 7.6%
Operating Expenses $7.837M $8.811M $9.805M
YoY Change 3.06% 22.44% 37.9%
Operating Profit -$2.109M -$3.615M -$5.002M
YoY Change -31.86% 30.93% 66.73%
Interest Expense -$2.000K -$1.000K -$1.000K
YoY Change -60.0% -75.0%
% of Operating Profit
Other Income/Expense, Net -$1.000K
YoY Change -75.0%
Pretax Income -$2.610M -$3.616M -$5.003M
YoY Change 46.3% 30.54% 66.21%
Income Tax
% Of Pretax Income
Net Earnings -$2.610M -$3.616M -$5.003M
YoY Change 46.3% 30.78% 66.21%
Net Earnings / Revenue -34.48% -52.36% -77.06%
Basic Earnings Per Share -$0.23 -$0.32
Diluted Earnings Per Share -$227.2K -$0.32 -$439.9K
COMMON SHARES
Basic Shares Outstanding 11.49M 11.44K 11.35M
Diluted Shares Outstanding 11.49M 11.44K

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.251M $11.96M $18.97M
YoY Change -62.62% -53.71% 108.42%
Cash & Equivalents $9.251M $11.96M $18.97M
Short-Term Investments
Other Short-Term Assets $753.0K $790.0K $554.0K
YoY Change 26.55% 19.7% 25.91%
Inventory
Prepaid Expenses
Receivables $5.148M $4.984M $5.311M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $15.15M $17.74M $24.83M
YoY Change -47.95% -41.7% 69.71%
LONG-TERM ASSETS
Property, Plant & Equipment $1.592M $183.0K $196.0K
YoY Change 940.52% -70.95% 115.38%
Goodwill $4.314M $701.0K
YoY Change 0.0%
Intangibles $6.822M $2.622M
YoY Change 22.7%
Long-Term Investments
YoY Change
Other Assets $116.0K $95.00K $95.00K
YoY Change 75.76% 18.75%
Total Long-Term Assets $12.57M $13.02M $4.482M
YoY Change 221.48% 264.57% 23.71%
TOTAL ASSETS
Total Short-Term Assets $15.15M $17.74M $24.83M
Total Long-Term Assets $12.57M $13.02M $4.482M
Total Assets $27.73M $30.75M $29.31M
YoY Change -16.03% -9.53% 60.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.258M $3.642M $3.542M
YoY Change 2.61% 29.61% 61.74%
Accrued Expenses $511.0K $530.0K $415.0K
YoY Change 112.92% 130.43% 80.43%
Deferred Revenue $7.500M $7.068M
YoY Change 11.69%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due $48.00K $52.00K $0.00
YoY Change 30.0% -100.0%
Total Short-Term Liabilities $11.83M $12.76M $11.22M
YoY Change 25.12% 31.32% 24.41%
LONG-TERM LIABILITIES
Long-Term Debt $1.911M $1.776M $0.00
YoY Change 104.14% -100.0%
Other Long-Term Liabilities $994.0K $1.110M $455.0K
YoY Change 194.08% 152.27% -10.78%
Total Long-Term Liabilities $2.905M $2.886M $0.00
YoY Change 120.31% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.83M $12.76M $11.22M
Total Long-Term Liabilities $2.905M $2.886M $0.00
Total Liabilities $14.74M $15.65M $11.72M
YoY Change 49.38% 41.89% 10.32%
SHAREHOLDERS EQUITY
Retained Earnings -$74.91M -$71.29M
YoY Change 24.89%
Common Stock $1.000K $1.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.99M $15.10M $17.60M
YoY Change
Total Liabilities & Shareholders Equity $27.73M $30.75M $29.31M
YoY Change -16.03% -9.53% 60.58%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$2.610M -$3.616M -$5.003M
YoY Change 46.3% 30.78% 66.21%
Depreciation, Depletion And Amortization $622.0K $387.0K $365.0K
YoY Change 94.38% 38.21% 14.06%
Cash From Operating Activities -$1.698M -$1.948M -$2.509M
YoY Change 191.25% -398.77% 191.74%
INVESTING ACTIVITIES
Capital Expenditures -$324.0K $22.00K -$284.0K
YoY Change -45.36% -43.2%
Acquisitions $4.734M
YoY Change
Other Investing Activities $0.00 -$4.734M -$53.00K
YoY Change
Cash From Investing Activities -$324.0K -$5.014M -$337.0K
YoY Change -45.36% 1593.92% -32.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -689.0K -42.00K -141.0K
YoY Change -848.91% -100.26% -188.12%
NET CHANGE
Cash From Operating Activities -1.698M -1.948M -2.509M
Cash From Investing Activities -324.0K -5.014M -337.0K
Cash From Financing Activities -689.0K -42.00K -141.0K
Net Change In Cash -2.711M -7.004M -2.987M
YoY Change 150.09% -141.84% 148.92%
FREE CASH FLOW
Cash From Operating Activities -$1.698M -$1.948M -$2.509M
Capital Expenditures -$324.0K $22.00K -$284.0K
Free Cash Flow -$1.374M -$1.970M -$2.225M
YoY Change -13840.0% -402.15% 518.06%

Facts In Submission

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AudioEye, Inc.
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CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0
CY2022Q1 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
241000
CY2021Q1 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
246000
CY2022Q1 aeye Payment To Patent Costs
PaymentToPatentCosts
17000
CY2021Q1 aeye Payment To Patent Costs
PaymentToPatentCosts
50000
CY2022Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
4734000
CY2021Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5014000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-296000
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
16621000
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
148000
CY2022Q1 aeye Payments Related To Settlement Of Employee Shared Based Awards
PaymentsRelatedToSettlementOfEmployeeSharedBasedAwards
25000
CY2021Q1 aeye Payments Related To Settlement Of Employee Shared Based Awards
PaymentsRelatedToSettlementOfEmployeeSharedBasedAwards
373000
CY2022Q1 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
17000
CY2021Q1 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
11000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-42000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16385000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-7004000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
16741000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18966000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9095000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11962000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25836000
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
876000
CY2021Q1 aeye Subscription Revenue Direct
SubscriptionRevenueDirect
2610000
CY2022Q1 us-gaap Revenues
Revenues
6906000
CY2021Q1 us-gaap Revenues
Revenues
5788000
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. On an ongoing basis, management evaluates its estimates and judgments, including those related to stock-based compensation, allowance for doubtful accounts, and intangible assets. Actual results may differ from these estimates.</p>
CY2022Q1 aeye Subscription Revenue Indirect
SubscriptionRevenueIndirect
3812000
CY2021Q1 aeye Subscription Revenue Indirect
SubscriptionRevenueIndirect
3178000
CY2022Q1 aeye Subscription Revenue Direct
SubscriptionRevenueDirect
3094000
CY2022Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
7500000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
7068000
CY2022Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
10000
CY2021Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
5000
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
7510000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
7073000
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2860000
CY2021 aeye Contract With Customer Liability Revenue Recognized Percentage
ContractWithCustomerLiabilityRevenueRecognizedPercentage
0.40
CY2022Q1 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
36000
CY2021Q1 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
47000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1145000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1781000
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1281000
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1661000
CY2022Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
7569000
CY2021Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
6327000
CY2022Q1 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-3266000
CY2021Q1 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-2911000
CY2022Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
198000
CY2022Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
85000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
102000
CY2022Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.060
CY2022Q1 aeye Finance Lease Computer Equipment Right Of Use Assets
FinanceLeaseComputerEquipmentRightOfUseAssets
256000
CY2021Q4 aeye Finance Lease Computer Equipment Right Of Use Assets
FinanceLeaseComputerEquipmentRightOfUseAssets
256000
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600
CY2022Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0600
CY2022Q1 aeye Accumulated Depreciation Depletion And Amortization
AccumulatedDepreciationDepletionAndAmortization
171000
CY2021Q4 aeye Accumulated Depreciation Depletion And Amortization
AccumulatedDepreciationDepletionAndAmortization
156000
CY2022Q1 aeye Finance Lease Right Of Use Asset Net
FinanceLeaseRightOfUseAssetNet
85000
CY2021Q4 aeye Finance Lease Right Of Use Asset Net
FinanceLeaseRightOfUseAssetNet
100000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
132000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
65000
CY2022Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
43000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
482000
CY2022Q1 aeye Lessee Operating Lease Finance Lease Liability To Be Paid Remainder Of Fiscal Year
LesseeOperatingLeaseFinanceLeaseLiabilityToBePaidRemainderOfFiscalYear
525000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
40000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
528000
CY2022Q1 aeye Lessee Operating Lease Finance Lease Liability To Be Paid Year One
LesseeOperatingLeaseFinanceLeaseLiabilityToBePaidYearOne
568000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
7000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
362000
CY2022Q1 aeye Lessee Operating Lease Finance Lease Liability To Be Paid Year Two
LesseeOperatingLeaseFinanceLeaseLiabilityToBePaidYearTwo
369000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
219000
CY2022Q1 aeye Lessee Operating Lease Finance Lease Liability To Be Paid Year Three
LesseeOperatingLeaseFinanceLeaseLiabilityToBePaidYearThree
219000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
225000
CY2022Q1 aeye Lessee Operating Lease Finance Lease Liability To Be Paid Year Four
LesseeOperatingLeaseFinanceLeaseLiabilityToBePaidYearFour
225000
CY2022Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
90000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1816000
CY2022Q1 aeye Lessee Operating Lease Finance Lease Liability To Be Paid
LesseeOperatingLeaseFinanceLeaseLiabilityToBePaid
1906000
CY2022Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
5000
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
186000
CY2022Q1 aeye Finance Lease Operating Lease Liability Undiscounted Excess Amount
FinanceLeaseOperatingLeaseLiabilityUndiscountedExcessAmount
191000
CY2022Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
85000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1630000
CY2022Q1 aeye Operating Lease Finance Lease Liability
OperatingLeaseFinanceLeaseLiability
1715000
CY2022Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
52000
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
530000
CY2022Q1 aeye Operating Lease Finance Lease Liability Current
OperatingLeaseFinanceLeaseLiabilityCurrent
582000
CY2022Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
33000
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1100000
CY2022Q1 aeye Operating Lease Finance Lease Liability Noncurrent
OperatingLeaseFinanceLeaseLiabilityNoncurrent
1133000
CY2021Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0600
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
15000
CY2021Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
13000
CY2022Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1000
CY2021Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1000
CY2022Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
16000
CY2021Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
14000
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
157000
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
64000
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
40000
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
53000
CY2022Q1 us-gaap Lease Cost
LeaseCost
213000
CY2021Q1 us-gaap Lease Cost
LeaseCost
131000
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M18D
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M23D
CY2022Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y9M7D
CY2021Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y3M10D
CY2022Q1 aeye Shared Fees
SharedFees
26000

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