2019 Q4 Form 10-Q Financial Statement

#000095012320000629 Filed on January 29, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4
Revenue $41.99M $36.01M
YoY Change 16.59% 15.02%
Cost Of Revenue $20.92M $17.37M
YoY Change 20.48% 10.74%
Gross Profit $21.06M $18.65M
YoY Change 12.96% 19.32%
Gross Profit Margin 50.17% 51.78%
Selling, General & Admin $23.76M $22.53M
YoY Change 5.48% 17.07%
% of Gross Profit 112.8% 120.8%
Research & Development $11.29M $10.06M
YoY Change 12.19% 38.38%
% of Gross Profit 53.57% 53.94%
Depreciation & Amortization $854.0K $651.0K
YoY Change 31.18% 12.05%
% of Gross Profit 4.05% 3.49%
Operating Expenses $35.05M $32.58M
YoY Change 7.55% 22.91%
Operating Profit -$2.696M -$3.878M
YoY Change -30.48% 7.33%
Interest Expense $25.00K $3.000K
YoY Change 733.33% 0.0%
% of Operating Profit
Other Income/Expense, Net $142.0K -$68.00K
YoY Change -308.82% -247.83%
Pretax Income -$2.487M -$3.866M
YoY Change -35.67% 8.69%
Income Tax $95.00K $182.0K
% Of Pretax Income
Net Earnings -$2.582M -$4.048M
YoY Change -36.22% 109.31%
Net Earnings / Revenue -6.15% -11.24%
Basic Earnings Per Share -$0.11
Diluted Earnings Per Share -$0.11 -$173.9K
COMMON SHARES
Basic Shares Outstanding 23.24M 23.05M
Diluted Shares Outstanding 23.24M

Balance Sheet

Concept 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.90M $37.00M
YoY Change 13.24% -1.6%
Cash & Equivalents $41.91M $37.00M
Short-Term Investments
Other Short-Term Assets $6.800M $4.300M
YoY Change 58.14% -36.76%
Inventory $1.900M $1.566M
Prepaid Expenses
Receivables $33.80M $33.64M
Other Receivables $0.00 $0.00
Total Short-Term Assets $84.30M $80.76M
YoY Change 4.39% 31.65%
LONG-TERM ASSETS
Property, Plant & Equipment $26.90M $15.28M
YoY Change 76.07% -13.98%
Goodwill $19.62M $19.62M
YoY Change 0.0% 0.0%
Intangibles $8.404M $8.450M
YoY Change -0.54% -0.54%
Long-Term Investments
YoY Change
Other Assets $7.500M $5.515M
YoY Change 35.99% 111.06%
Total Long-Term Assets $87.50M $86.68M
YoY Change 0.95% -8.35%
TOTAL ASSETS
Total Short-Term Assets $84.30M $80.76M
Total Long-Term Assets $87.50M $86.68M
Total Assets $171.8M $167.4M
YoY Change 2.61% 7.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.50M $6.431M
YoY Change 63.27% -21.33%
Accrued Expenses $16.70M $12.87M
YoY Change 29.74% 30.77%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $62.60M $59.29M
YoY Change 5.59% 42.64%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $1.617M $3.479M
YoY Change -53.52% -12.7%
Total Long-Term Liabilities $1.617M $3.479M
YoY Change -53.52% -12.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $62.60M $59.29M
Total Long-Term Liabilities $1.617M $3.479M
Total Liabilities $74.90M $62.77M
YoY Change 19.33% 37.8%
SHAREHOLDERS EQUITY
Retained Earnings $85.98M $96.64M
YoY Change -11.03% -6.91%
Common Stock $9.482M $9.482M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.387M $2.422M
YoY Change -1.45% -1.66%
Treasury Stock Shares $7.950M 8.072M shares
Shareholders Equity $96.94M $104.1M
YoY Change
Total Liabilities & Shareholders Equity $171.8M $167.4M
YoY Change 2.62% 7.39%

Cashflow Statement

Concept 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income -$2.582M -$4.048M
YoY Change -36.22% 109.31%
Depreciation, Depletion And Amortization $854.0K $651.0K
YoY Change 31.18% 12.05%
Cash From Operating Activities $4.100M $4.400M
YoY Change -6.82% 18.92%
INVESTING ACTIVITIES
Capital Expenditures -$1.100M -$300.0K
YoY Change 266.67% -92.5%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$1.100M -$300.0K
YoY Change 266.67% -92.5%
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 -100.0K
YoY Change -100.0% -85.71%
NET CHANGE
Cash From Operating Activities 4.100M 4.400M
Cash From Investing Activities -1.100M -300.0K
Cash From Financing Activities 0.000 -100.0K
Net Change In Cash 3.000M 4.000M
YoY Change -25.0% -500.0%
FREE CASH FLOW
Cash From Operating Activities $4.100M $4.400M
Capital Expenditures -$1.100M -$300.0K
Free Cash Flow $5.200M $4.700M
YoY Change 10.64% -38.96%

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Reclassification<font style="font-style:normal;"> &#8211; Certain prior year balances have been reclassed to conform to the current year presentation. Specifically, we reclassed certain employee benefit obligations from current to non-current liabilities.</font></p>
CY2019Q4 agys Number Of Markets Served
NumberOfMarketsServed
5
CY2019Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
8600000
CY2018Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
7600000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
34600000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
28100000
CY2019Q4 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
200000
CY2018Q4 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
400000
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
2700000
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
3800000
CY2019Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
3300000
CY2018Q4 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
300000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
1000000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
800000
CY2019Q4 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
1300000
CY2018Q4 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
1300000
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
3500000
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
3100000
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
24183000
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
24179000
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4000
CY2019Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
24183000
CY2019Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
24145000
CY2019Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
38000
CY2019Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
32583000
CY2019Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
32583000
CY2019Q4 agys Finite Lived Software Development Costs Gross
FiniteLivedSoftwareDevelopmentCostsGross
67541000
CY2019Q4 agys Finite Lived Software Development Costs Accumulated Amortization
FiniteLivedSoftwareDevelopmentCostsAccumulatedAmortization
42406000
CY2019Q4 agys Finite Lived Software Development Costs Net
FiniteLivedSoftwareDevelopmentCostsNet
25135000
CY2019Q1 agys Finite Lived Software Development Costs Gross
FiniteLivedSoftwareDevelopmentCostsGross
67541000
CY2019Q1 agys Finite Lived Software Development Costs Accumulated Amortization
FiniteLivedSoftwareDevelopmentCostsAccumulatedAmortization
32974000
CY2019Q1 agys Finite Lived Software Development Costs Net
FiniteLivedSoftwareDevelopmentCostsNet
34567000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
3132000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
12515000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
5403000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3399000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
690000
CY2019Q4 agys Finite Lived Intangible Assets Currently Being Amortized Net
FiniteLivedIntangibleAssetsCurrentlyBeingAmortizedNet
25139000
CY2019Q4 agys Amortization Of Software Development
AmortizationOfSoftwareDevelopment
3100000
CY2018Q4 agys Amortization Of Software Development
AmortizationOfSoftwareDevelopment
3400000
CY2019Q4 agys Capitalized Software Development Costs
CapitalizedSoftwareDevelopmentCosts
0
agys Capitalized Software Development Costs
CapitalizedSoftwareDevelopmentCosts
0
agys Capitalized Software Development Costs
CapitalizedSoftwareDevelopmentCosts
2000000
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
10438000
CY2019Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
12755000
CY2019Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
1231000
CY2019Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
1041000
CY2019Q4 agys Accrued Legal Settlements
AccruedLegalSettlements
0
CY2019Q1 agys Accrued Legal Settlements
AccruedLegalSettlements
15000
CY2019Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
86000
CY2019Q1 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
46000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
127000
CY2019Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
67000
CY2019Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
0
CY2019Q1 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
273000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
600000
CY2019Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
521000
CY2019Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
12482000
CY2019Q1 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
14718000
CY2019Q4 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
1097000
CY2019Q1 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
1083000
CY2019Q4 agys Deferred Rent Credit And Asset Retirement Obligations Noncurrent
DeferredRentCreditAndAssetRetirementObligationsNoncurrent
165000
CY2019Q1 agys Deferred Rent Credit And Asset Retirement Obligations Noncurrent
DeferredRentCreditAndAssetRetirementObligationsNoncurrent
2613000
CY2019Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
279000
CY2019Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
174000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
18000
CY2019Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
76000
CY2019Q1 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
76000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
16300000
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
13800000
CY2019Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
1001000
us-gaap Operating Lease Expense
OperatingLeaseExpense
3017000
CY2019Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
6000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
17000
CY2019Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
4000
CY2019Q4 agys Finance Lease Cost
FinanceLeaseCost
8000
agys Finance Lease Cost
FinanceLeaseCost
21000
CY2019Q4 us-gaap Variable Lease Cost
VariableLeaseCost
60000
us-gaap Variable Lease Cost
VariableLeaseCost
197000
CY2019Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
22000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
72000
CY2019Q4 us-gaap Lease Cost
LeaseCost
1091000
us-gaap Lease Cost
LeaseCost
3307000
us-gaap Operating Lease Payments
OperatingLeasePayments
3560000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
9000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
185000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
11000
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y3M3D
CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y4M13D
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1004
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0437
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1086000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4390000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3623000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2244000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2049000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
5719000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
19111000
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5076000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
14035000
CY2019Q4 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
7000
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
29000
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
21000
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
5000
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
3000
CY2019Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0
CY2019Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
65000
CY2019Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
10000
CY2019Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
55000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
4143000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
3945000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
3166000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1916000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1770000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
4497000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
19437000
CY2019Q1 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
27000
CY2019Q1 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
23000
CY2019Q1 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
15000
CY2019Q1 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
0
CY2019Q1 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
0
CY2019Q1 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
0
CY2019Q1 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
65000
CY2019Q1 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
8000
CY2019Q1 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
57000
CY2019Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.038
CY2018Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.047
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.023
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.020
CY2019Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1469000
agys Incremental Common Shares Attributable To Restricted Shares
IncrementalCommonSharesAttributableToRestrictedShares
416960
CY2019Q4 us-gaap Share Based Compensation
ShareBasedCompensation
1329000
CY2018Q4 us-gaap Share Based Compensation
ShareBasedCompensation
1282000

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agys-10q_20191231.htm Edgar Link pending
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