$AEYE
AUDIOEYE INC

2024 Q3 Form 10-Q Financial Statement

#000141057824001118 Filed on July 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $8.925M $8.470M
YoY Change 13.87% 8.09%
Cost Of Revenue $1.823M $1.764M
YoY Change 1.96% -1.29%
Gross Profit $7.102M $6.706M
YoY Change 17.39% 10.86%
Gross Profit Margin 79.57% 79.17%
Selling, General & Admin $6.942M $5.982M
YoY Change 26.56% -1.03%
% of Gross Profit 97.75% 89.2%
Research & Development $1.151M $1.221M
YoY Change -41.13% -39.94%
% of Gross Profit 16.21% 18.21%
Depreciation & Amortization $596.0K $596.0K
YoY Change 4.56% 3.29%
% of Gross Profit 8.39% 8.89%
Operating Expenses $8.093M $7.203M
YoY Change 8.78% -10.82%
Operating Profit -$991.0K -$497.0K
YoY Change -28.71% -75.49%
Interest Expense -$211.0K -$238.0K
YoY Change -702.86% -532.73%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.202M -$735.0K
YoY Change -11.62% -62.75%
Income Tax
% Of Pretax Income
Net Earnings -$1.202M -$735.0K
YoY Change -11.29% -62.75%
Net Earnings / Revenue -13.47% -8.68%
Basic Earnings Per Share -$0.10 -$0.06
Diluted Earnings Per Share -$0.10 -$0.06
COMMON SHARES
Basic Shares Outstanding 11.88M 11.64M
Diluted Shares Outstanding 11.96K 11.70M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.478M $5.086M
YoY Change 67.52% 17.81%
Cash & Equivalents $5.478M $5.086M
Short-Term Investments
Other Short-Term Assets $1.042M $1.050M
YoY Change 57.88% 97.74%
Inventory
Prepaid Expenses
Receivables $4.876M $5.420M
Other Receivables $0.00 $0.00
Total Short-Term Assets $11.40M $11.56M
YoY Change 36.59% 21.28%
LONG-TERM ASSETS
Property, Plant & Equipment $228.0K $222.0K
YoY Change -5.39% 2.78%
Goodwill $6.615M $4.001M
YoY Change 65.33% 0.0%
Intangibles $10.59M $5.628M
YoY Change 80.34% -5.92%
Long-Term Investments
YoY Change
Other Assets $128.0K $123.0K
YoY Change 23.08% 20.59%
Total Long-Term Assets $17.99M $10.45M
YoY Change 64.92% -5.63%
TOTAL ASSETS
Total Short-Term Assets $11.40M $11.56M
Total Long-Term Assets $17.99M $10.45M
Total Assets $29.39M $22.00M
YoY Change 52.64% 6.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.481M $2.688M
YoY Change 64.98% 8.39%
Accrued Expenses $194.0K $211.0K
YoY Change -47.57% -49.16%
Deferred Revenue $7.587M $7.050M
YoY Change 19.33% 6.66%
Short-Term Debt $2.348M $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $13.61M $9.949M
YoY Change 23.55% -14.96%
LONG-TERM LIABILITIES
Long-Term Debt $6.796M $6.773M
YoY Change
Other Long-Term Liabilities $105.0K $105.0K
YoY Change -78.13% -81.12%
Total Long-Term Liabilities $6.901M $6.878M
YoY Change 1337.71% 1137.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.61M $9.949M
Total Long-Term Liabilities $6.901M $6.878M
Total Liabilities $22.04M $17.15M
YoY Change 91.78% 39.92%
SHAREHOLDERS EQUITY
Retained Earnings -$94.26M -$93.06M
YoY Change 7.33% 7.62%
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 $7.352M $4.857M
YoY Change
Total Liabilities & Shareholders Equity $29.39M $22.00M
YoY Change 52.64% 6.82%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$1.202M -$735.0K
YoY Change -11.29% -62.75%
Depreciation, Depletion And Amortization $596.0K $596.0K
YoY Change 4.56% 3.29%
Cash From Operating Activities $1.553M $410.0K
YoY Change -570.61% -184.02%
INVESTING ACTIVITIES
Capital Expenditures $445.0K $488.0K
YoY Change -24.58% -15.28%
Acquisitions
YoY Change
Other Investing Activities -$3.123M
YoY Change
Cash From Investing Activities -$3.568M -$488.0K
YoY Change 504.75% -15.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.407M -1.876M
YoY Change -2105.83% 1058.02%
NET CHANGE
Cash From Operating Activities 1.553M 410.0K
Cash From Investing Activities -3.568M -488.0K
Cash From Financing Activities 2.407M -1.876M
Net Change In Cash 392.0K -1.954M
YoY Change -137.69% 59.38%
FREE CASH FLOW
Cash From Operating Activities $1.553M $410.0K
Capital Expenditures $445.0K $488.0K
Free Cash Flow $1.108M -$78.00K
YoY Change -220.43% -92.67%

Facts In Submission

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57000
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
947000
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
999000
aeye Payment To Patent Costs
PaymentToPatentCosts
13000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1035000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1056000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
663000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
53000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
36000
aeye Payments Related To Settlement Of Employee Shared Based Awards
PaymentsRelatedToSettlementOfEmployeeSharedBasedAwards
744000
aeye Payments Related To Settlement Of Employee Shared Based Awards
PaymentsRelatedToSettlementOfEmployeeSharedBasedAwards
446000
aeye Payments For Settlement Of Contingent Consideration
PaymentsForSettlementOfContingentConsideration
1677000
aeye Payments For Settlement Of Contingent Consideration
PaymentsForSettlementOfContingentConsideration
908000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2016000
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
7000
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
22000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3728000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1340000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-4150000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-2587000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9236000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6904000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5086000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4317000
aeye Non Cash Activity Of Common Stock Offering Costs Included In Accounts Payable
NonCashActivityOfCommonStockOfferingCostsIncludedInAccountsPayable
100000
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>
aeye Subscription Revenue Indirect
SubscriptionRevenueIndirect
9704000
aeye Subscription Revenue Indirect
SubscriptionRevenueIndirect
8760000
aeye Subscription Revenue Direct
SubscriptionRevenueDirect
6849000
aeye Subscription Revenue Direct
SubscriptionRevenueDirect
6848000
us-gaap Revenues
Revenues
16553000
us-gaap Revenues
Revenues
15608000
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
7050000
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6472000
CY2024Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
1000
CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
10000
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
7051000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6482000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4922000
CY2023 aeye Contract With Customer Liability Revenue Recognized Percentage
ContractWithCustomerLiabilityRevenueRecognizedPercentage
0.76
CY2024Q2 us-gaap Deferred Costs Current
DeferredCostsCurrent
35000
CY2023Q4 us-gaap Deferred Costs Current
DeferredCostsCurrent
20000
CY2024Q2 us-gaap Deferred Costs
DeferredCosts
44000
CY2023Q4 us-gaap Deferred Costs
DeferredCosts
2000
CY2024Q2 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
79000
CY2023Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
22000
CY2024Q2 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
6000
us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
16000
CY2023Q2 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
17000
us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
36000
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
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
18960
CY2024Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
481040
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
975000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1031000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1858000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2149000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1550000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2037000
CY2024Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
349000
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
357000
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
0
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
7000
CY2024Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.060
us-gaap Operating Lease Payments
OperatingLeasePayments
227000
us-gaap Operating Lease Payments
OperatingLeasePayments
271000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
127000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
219000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
225000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
571000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
41000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
530000
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
211000
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
319000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
6000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
20000
aeye Finance Lease Interest Payment On Liabilities
FinanceLeaseInterestPaymentOnLiabilities
0
aeye Finance Lease Interest Payment On Liabilities
FinanceLeaseInterestPaymentOnLiabilities
1000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
6000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
21000
us-gaap Operating Lease Cost
OperatingLeaseCost
165000
us-gaap Operating Lease Cost
OperatingLeaseCost
266000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
204000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
117000
us-gaap Lease Cost
LeaseCost
375000
us-gaap Lease Cost
LeaseCost
404000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y5M1D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M2D
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y9M10D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600
CY2023Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0600
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
35000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
12000
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 aeye Rule10b51 Arrangement Modified Flag
Rule10b51ArrangementModifiedFlag
false
CY2024Q2 aeye Non Rule10b51 Arrangement Modified Flag
NonRule10b51ArrangementModifiedFlag
false

Files In Submission

Name View Source Status
aeye-20240630_cal.xml Edgar Link unprocessable
aeye-20240630_pre.xml Edgar Link unprocessable
0001410578-24-001118-index-headers.html Edgar Link pending
0001410578-24-001118-index.html Edgar Link pending
0001410578-24-001118.txt Edgar Link pending
0001410578-24-001118-xbrl.zip Edgar Link pending
aeye-20240630.xsd Edgar Link pending
aeye-20240630x10q.htm Edgar Link pending
aeye-20240630x10q001.jpg Edgar Link pending
aeye-20240630xex31d1.htm Edgar Link pending
aeye-20240630xex31d2.htm Edgar Link pending
aeye-20240630xex32d1.htm Edgar Link pending
aeye-20240630xex3d3.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
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R2.htm Edgar Link pending
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R28.htm Edgar Link pending
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R3.htm Edgar Link pending
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R32.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
aeye-20240630_lab.xml Edgar Link unprocessable
aeye-20240630x10q_htm.xml Edgar Link completed
aeye-20240630_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable