$AEYE
AUDIOEYE INC

2024 Q2 Form 10-Q Financial Statement

#000141057824000574 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $8.470M $8.083M
YoY Change 8.09% 4.0%
Cost Of Revenue $1.764M $1.761M
YoY Change -1.29% 3.47%
Gross Profit $6.706M $6.322M
YoY Change 10.86% 4.15%
Gross Profit Margin 79.17% 78.21%
Selling, General & Admin $5.982M $5.631M
YoY Change -1.03% -11.71%
% of Gross Profit 89.2% 89.07%
Research & Development $1.221M $1.322M
YoY Change -39.94% -24.28%
% of Gross Profit 18.21% 20.91%
Depreciation & Amortization $596.0K $572.0K
YoY Change 3.29% 8.75%
% of Gross Profit 8.89% 9.05%
Operating Expenses $7.203M $6.953M
YoY Change -10.82% -14.41%
Operating Profit -$497.0K -$631.0K
YoY Change -75.49% -69.28%
Interest Expense -$238.0K -$198.0K
YoY Change -532.73% -560.47%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$735.0K -$829.0K
YoY Change -62.75% -58.78%
Income Tax
% Of Pretax Income
Net Earnings -$735.0K -$829.0K
YoY Change -62.75% -58.78%
Net Earnings / Revenue -8.68% -10.26%
Basic Earnings Per Share -$0.06 -$0.07
Diluted Earnings Per Share -$0.06 -$0.07
COMMON SHARES
Basic Shares Outstanding 11.64M 11.70M
Diluted Shares Outstanding 11.70M 11.71M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.086M $7.040M
YoY Change 17.81% 27.01%
Cash & Equivalents $5.086M $7.040M
Short-Term Investments
Other Short-Term Assets $1.050M $838.0K
YoY Change 97.74% 31.55%
Inventory
Prepaid Expenses
Receivables $5.420M $5.084M
Other Receivables $0.00 $0.00
Total Short-Term Assets $11.56M $12.96M
YoY Change 21.28% 20.61%
LONG-TERM ASSETS
Property, Plant & Equipment $222.0K $238.0K
YoY Change 2.78% 61.9%
Goodwill $4.001M $4.001M
YoY Change 0.0% 0.0%
Intangibles $5.628M $5.723M
YoY Change -5.92% -4.79%
Long-Term Investments
YoY Change
Other Assets $123.0K $107.0K
YoY Change 20.59% 7.0%
Total Long-Term Assets $10.45M $10.60M
YoY Change -5.63% -4.99%
TOTAL ASSETS
Total Short-Term Assets $11.56M $12.96M
Total Long-Term Assets $10.45M $10.60M
Total Assets $22.00M $23.56M
YoY Change 6.82% 7.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.688M $2.530M
YoY Change 8.39% -1.33%
Accrued Expenses $211.0K $249.0K
YoY Change -49.16% -48.02%
Deferred Revenue $7.050M $6.254M
YoY Change 6.66% -6.74%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $1.000K
YoY Change -100.0% -96.88%
Total Short-Term Liabilities $9.949M $11.42M
YoY Change -14.96% 16.77%
LONG-TERM LIABILITIES
Long-Term Debt $6.773M $6.750M
YoY Change 235.32%
Other Long-Term Liabilities $105.0K $105.0K
YoY Change -81.12% -84.35%
Total Long-Term Liabilities $6.878M $6.855M
YoY Change 1137.05% 155.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.949M $11.42M
Total Long-Term Liabilities $6.878M $6.855M
Total Liabilities $17.15M $18.65M
YoY Change 39.92% 49.59%
SHAREHOLDERS EQUITY
Retained Earnings -$93.06M -$91.99M
YoY Change 7.62% 8.87%
Common Stock $1.000K $1.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.857M $4.915M
YoY Change
Total Liabilities & Shareholders Equity $22.00M $23.56M
YoY Change 6.82% 7.57%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$735.0K -$829.0K
YoY Change -62.75% -58.78%
Depreciation, Depletion And Amortization $596.0K $572.0K
YoY Change 3.29% 8.75%
Cash From Operating Activities $410.0K $203.0K
YoY Change -184.02% -31.65%
INVESTING ACTIVITIES
Capital Expenditures $488.0K $57.00K
YoY Change -15.28% 714.29%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$488.0K -$547.0K
YoY Change -15.28% 13.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.876M -1.852M
YoY Change 1058.02% 57.22%
NET CHANGE
Cash From Operating Activities 410.0K 203.0K
Cash From Investing Activities -488.0K -547.0K
Cash From Financing Activities -1.876M -1.852M
Net Change In Cash -1.954M -2.196M
YoY Change 59.38% 61.35%
FREE CASH FLOW
Cash From Operating Activities $410.0K $203.0K
Capital Expenditures $488.0K $57.00K
Free Cash Flow -$78.00K $146.0K
YoY Change -92.67% -49.66%

Facts In Submission

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CY2024Q1 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 consolidated 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 consolidated 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>
CY2024Q1 aeye Subscription Revenue Indirect
SubscriptionRevenueIndirect
4734000
CY2023Q1 aeye Subscription Revenue Indirect
SubscriptionRevenueIndirect
4342000
CY2024Q1 aeye Subscription Revenue Direct
SubscriptionRevenueDirect
3349000
CY2023Q1 aeye Subscription Revenue Direct
SubscriptionRevenueDirect
3430000
CY2024Q1 us-gaap Revenues
Revenues
8083000
CY2023Q1 us-gaap Revenues
Revenues
7772000
CY2024Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6254000
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6472000
CY2024Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
2000
CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
10000
CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6256000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6482000
CY2024Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3055000
CY2023 aeye Contract With Customer Liability Revenue Recognized Percentage
ContractWithCustomerLiabilityRevenueRecognizedPercentage
0.47
CY2024Q1 us-gaap Deferred Costs Current
DeferredCostsCurrent
19000
CY2023Q4 us-gaap Deferred Costs Current
DeferredCostsCurrent
20000
CY2024Q1 us-gaap Deferred Costs
DeferredCosts
3000
CY2023Q4 us-gaap Deferred Costs
DeferredCosts
2000
CY2024Q1 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
22000
CY2023Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
22000
CY2024Q1 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
10000
CY2023Q1 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
19000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
500000
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.85
CY2022Q2 aeye Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Shares Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesValue
25000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Shares Per Employee
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee
1500
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
15484
CY2024Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
484516
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
883000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1118000
CY2023Q2 us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
38000
CY2023Q2 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
40000
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1662000
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2091000
CY2024Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
177000
CY2023Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
179000
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
1000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
7000
CY2024Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.060
CY2023Q2 aeye Reduced Lease Space
ReducedLeaseSpace
2000
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
126000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
135000
CY2024Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
1000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
223000
CY2024Q1 aeye Lessee Operating Lease Finance Lease Liability To Be Paid Remainder Of Fiscal Year
LesseeOperatingLeaseFinanceLeaseLiabilityToBePaidRemainderOfFiscalYear
224000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
219000
CY2024Q1 aeye Lessee Operating Lease Finance Lease Liability To Be Paid Year One
LesseeOperatingLeaseFinanceLeaseLiabilityToBePaidYearOne
219000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
225000
CY2024Q1 aeye Lessee Operating Lease Finance Lease Liability To Be Paid Year Two
LesseeOperatingLeaseFinanceLeaseLiabilityToBePaidYearTwo
225000
CY2024Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
667000
CY2024Q1 aeye Lessee Operating Lease Finance Lease Liability To Be Paid
LesseeOperatingLeaseFinanceLeaseLiabilityToBePaid
668000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
50000
CY2024Q1 aeye Finance Lease Operating Lease Liability Undiscounted Excess Amount
FinanceLeaseOperatingLeaseLiabilityUndiscountedExcessAmount
50000
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
1000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
617000
CY2024Q1 aeye Operating Lease Finance Lease Liability
OperatingLeaseFinanceLeaseLiability
618000
CY2024Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
249000
CY2024Q1 aeye Operating Lease Finance Lease Liability Current
OperatingLeaseFinanceLeaseLiabilityCurrent
250000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
368000
CY2024Q1 aeye Operating Lease Finance Lease Liability Noncurrent
OperatingLeaseFinanceLeaseLiabilityNoncurrent
368000
CY2024Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
3000
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
10000
CY2024Q1 aeye Finance Lease Interest Payment On Liabilities
FinanceLeaseInterestPaymentOnLiabilities
0
CY2023Q1 aeye Finance Lease Interest Payment On Liabilities
FinanceLeaseInterestPaymentOnLiabilities
1000
CY2024Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3000
CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
11000
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
96000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
133000
CY2024Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
91000
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
44000
CY2024Q1 us-gaap Lease Cost
LeaseCost
190000
CY2023Q1 us-gaap Lease Cost
LeaseCost
188000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y6M7D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y11M8D
CY2024Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y1M20D
CY2023Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y11M19D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600
CY2024Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0600
CY2023Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0600
CY2024Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
17000
CY2024Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
6000
CY2024Q1 aeye Shared Fees
SharedFees
112000

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