2024 Q1 Form 10-K Financial Statement

#000143774924008626 Filed on March 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $1.915M $1.830M $7.982M
YoY Change -11.33% -23.84% -33.61%
Cost Of Revenue $1.216M $1.227M $5.368M
YoY Change -19.11% -23.77% -43.15%
Gross Profit $699.3K $602.7K $2.614M
YoY Change 6.46% -23.97% 1.32%
Gross Profit Margin 36.51% 32.93% 32.75%
Selling, General & Admin $1.373M $1.155M $5.842M
YoY Change -14.79% -63.71% -51.58%
% of Gross Profit 196.38% 191.71% 223.47%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $52.43K $52.77K $217.2K
YoY Change -3.19% -85.34% -84.95%
% of Gross Profit 7.5% 8.76% 8.31%
Operating Expenses $1.373M $1.208M $5.842M
YoY Change -14.79% -62.05% -51.58%
Operating Profit -$674.0K -$605.5K -$1.785M
YoY Change -29.41% -74.68% -90.49%
Interest Expense $10.74K -$12.27K $103.3K
YoY Change -69.69% -44.35% 26.51%
% of Operating Profit
Other Income/Expense, Net $4.345K $7.260K $10.60K
YoY Change 4674.73% 131.95% 49.09%
Pretax Income -$674.0K -$811.9K -$1.496M
YoY Change -31.93% -91.5% -92.07%
Income Tax $0.00 -$42.59K -$42.59K
% Of Pretax Income
Net Earnings -$674.0K -$769.3K -$2.034M
YoY Change -50.08% -91.86% -88.54%
Net Earnings / Revenue -35.19% -42.04% -25.49%
Basic Earnings Per Share -$0.33 -$1.04
Diluted Earnings Per Share -$0.33 -$0.38 -$1.04
COMMON SHARES
Basic Shares Outstanding 2.013M 2.013M 1.949M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $563.3K $682.0K $682.0K
YoY Change -30.86% -6.71% -6.71%
Cash & Equivalents $563.3K $682.0K $682.0K
Short-Term Investments
Other Short-Term Assets $220.6K $3.545K $267.4K
YoY Change -73.32% -39.57%
Inventory
Prepaid Expenses $28.00K
Receivables $776.0K $1.118M $1.118M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.560M $2.067M $2.067M
YoY Change -52.38% -26.25% -26.25%
LONG-TERM ASSETS
Property, Plant & Equipment $49.63K $58.00K $303.6K
YoY Change -44.17% -90.29% -68.82%
Goodwill $1.125M $1.125M
YoY Change 0.0% 0.0%
Intangibles $961.5K $1.006M
YoY Change -15.49% -66.48%
Long-Term Investments
YoY Change
Other Assets $18.42K $18.42K $18.42K
YoY Change -76.77% -76.77% -76.77%
Total Long-Term Assets $2.205M $2.453M $2.453M
YoY Change -45.08% -52.63% -52.63%
TOTAL ASSETS
Total Short-Term Assets $1.560M $2.067M $2.067M
Total Long-Term Assets $2.205M $2.453M $2.453M
Total Assets $3.765M $4.520M $4.520M
YoY Change -48.36% -43.37% -43.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $662.3K $403.4K $403.4K
YoY Change 28.94% -29.69% -29.69%
Accrued Expenses $789.2K $1.047M $1.047M
YoY Change -33.57% -10.05% -10.05%
Deferred Revenue $85.04K $114.5K
YoY Change -33.09% -37.33%
Short-Term Debt $500.0K $500.0K $500.0K
YoY Change -60.82% 17.65% 17.65%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.040M $2.098M $2.098M
YoY Change -55.79% -46.04% -46.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $136.7K $136.7K
YoY Change -100.0% -55.02% -55.02%
Total Long-Term Liabilities $0.00 $136.7K $136.7K
YoY Change -100.0% -55.02% -55.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.040M $2.098M $2.098M
Total Long-Term Liabilities $0.00 $136.7K $136.7K
Total Liabilities $2.056M $2.251M $2.251M
YoY Change -58.2% -47.05% -47.05%
SHAREHOLDERS EQUITY
Retained Earnings -$33.90M -$33.23M
YoY Change 4.17% 6.52%
Common Stock $2.180K $2.180K
YoY Change -89.59% -89.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.709M $2.269M $2.269M
YoY Change
Total Liabilities & Shareholders Equity $3.765M $4.520M $4.520M
YoY Change -48.36% -43.37% -43.37%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$674.0K -$769.3K -$2.034M
YoY Change -50.08% -91.86% -88.54%
Depreciation, Depletion And Amortization $52.43K $52.77K $217.2K
YoY Change -3.19% -85.34% -84.95%
Cash From Operating Activities -$118.7K -$101.1K -$2.815M
YoY Change -93.27% -88.93% -53.2%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $2.336M
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $2.336M
YoY Change -100.0% -100.0% -535.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $347.1K
YoY Change -81.61%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 -94.07K $429.5K
YoY Change -100.0% -122.13% -81.72%
NET CHANGE
Cash From Operating Activities -$118.7K -101.1K -$2.815M
Cash From Investing Activities $0.00 0.000 $2.336M
Cash From Financing Activities $0.00 -94.07K $429.5K
Net Change In Cash -$118.7K -195.2K -$49.09K
YoY Change -241.88% -75.31% -98.83%
FREE CASH FLOW
Cash From Operating Activities -$118.7K -$101.1K -$2.815M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$101.1K -$2.815M
YoY Change -91.68% -57.03%

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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023 us-gaap Stock Issued During Period Value New Issues
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CY2023 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2023 wavd Adjustments To Additional Paid In Capital Amortization Of Stock Issuance Costs
AdjustmentsToAdditionalPaidInCapitalAmortizationOfStockIssuanceCosts
-150000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2023 us-gaap Net Income Loss
NetIncomeLoss
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CY2022 us-gaap Net Income Loss
NetIncomeLoss
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CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
217236 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
219986 usd
CY2023 us-gaap Share Based Compensation
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CY2022 us-gaap Share Based Compensation
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CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2023 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
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CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
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CY2023 wavd Accretion Of Deferred Acquisition Consideration
AccretionOfDeferredAcquisitionConsideration
27370 usd
CY2022 wavd Accretion Of Deferred Acquisition Consideration
AccretionOfDeferredAcquisitionConsideration
80098 usd
CY2023 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
1442468 usd
CY2022 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
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CY2023 us-gaap Gain On Sale Of Investments
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382525 usd
CY2022 us-gaap Gain On Sale Of Investments
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CY2023 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2022 us-gaap Increase Decrease In Accounts Receivable
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CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2023 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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CY2022 us-gaap Increase Decrease In Other Operating Assets
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CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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CY2023 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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CY2023 us-gaap Increase Decrease In Operating Lease Liability
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CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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CY2023 us-gaap Increase Decrease In Reserve For Commissions Expense And Taxes
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CY2022 us-gaap Increase Decrease In Reserve For Commissions Expense And Taxes
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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CY2023 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
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CY2022 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6013961 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2023 wavd Proceeds From Sale Of Equity Investment And Related Assets
ProceedsFromSaleOfEquityInvestmentAndRelatedAssets
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CY2022 wavd Proceeds From Sale Of Equity Investment And Related Assets
ProceedsFromSaleOfEquityInvestmentAndRelatedAssets
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CY2023 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
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CY2022 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
2335974 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
575000 usd
CY2022 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
425000 usd
CY2023 us-gaap Repayments Of Lines Of Credit
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500000 usd
CY2022 us-gaap Repayments Of Lines Of Credit
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CY2023 wavd Proceeds From Premium Financing Borrowing
ProceedsFromPremiumFinancingBorrowing
305759 usd
CY2022 wavd Proceeds From Premium Financing Borrowing
ProceedsFromPremiumFinancingBorrowing
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CY2023 wavd Repayments Of Premium Financing Borrowings
RepaymentsOfPremiumFinancingBorrowings
305759 usd
CY2022 wavd Repayments Of Premium Financing Borrowings
RepaymentsOfPremiumFinancingBorrowings
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CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
347108 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1887000 usd
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7400 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
37642 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
429508 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
731081 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4931302 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
681995 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
731081 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
73678 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
1250 usd
CY2023 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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1263000 usd
CY2022 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1
0 usd
CY2023 us-gaap Stock Issued1
StockIssued1
0 usd
CY2022 us-gaap Stock Issued1
StockIssued1
150000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-2121462 usd
CY2023Q4 wavd Working Capital
WorkingCapital
31098 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
681995 usd
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023 us-gaap Use Of Estimates
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Use of Estimates</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. Actual results could differ materially from these estimates due to uncertainties. On an ongoing basis, we evaluate our estimates, including those related to the allowance for credit losses; fair values of financial instruments, reporting units, intangible assets, and goodwill; useful lives of intangible assets and property and equipment; the valuation of stock-based compensation, the valuation of deferred tax assets and liabilities; and contingent liabilities, among others. We base our estimates on assumptions, both historical and forward looking, that are believed to be reasonable, and the results of which form the basis for making judgments about the carrying values of assets and liabilities.</p>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Concentration of Credit Risk</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">During the year ended <em style="font: inherit;"> December 31, 2023, </em>the Company’s prime contracts with U.S. government agencies represented 8.8% of revenue and subcontracts under federal procurements represented 89.7% of revenue. The terms of these contracts and subcontracts vary from single transactions to <em style="font: inherit;">five</em> years. Three subcontracts under federal procurements represented 29.9%, 20.5% and 17.7% of revenue, respectively. Revenue from <span style="-sec-ix-hidden:c108965773">one</span> prime contractor under which the Company has multiple subcontracts represented 55.4% of the Company’s revenue in aggregate.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">During the year ended <em style="font: inherit;"> December 31, 2022, </em>the Company’s prime contracts with U.S. government agencies represented 25.1% of revenue and subcontracts under federal procurements represented 71.3% of revenue. The terms of these contracts and subcontracts vary from single transactions to <em style="font: inherit;">five</em> years. Three subcontracts under federal procurements represented 28.4%, 17.2% and 11.2% of revenue, respectively. Revenue from <span style="-sec-ix-hidden:c108965781">one</span> prime contractor under which the Company has multiple subcontracts represented 43.6% of the Company’s revenue in aggregate.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Company sold <em style="font: inherit;">third</em>-party software and maintenance contracts under agreements with <span style="-sec-ix-hidden:c108965784">one</span> major supplier in <em style="font: inherit;">2023</em> and <em style="font: inherit;">2022,</em> accounting for 2.4% and 24.3% of total revenue, respectively.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">As of <em style="font: inherit;"> December 31, 2023, </em>the Company’s accounts receivable included receivables from <span style="-sec-ix-hidden:c108965789">two</span> subcontracts under federal procurements that represented 30.2% and 29.3% of the Company’s outstanding accounts receivable, respectively. Receivables from <span style="-sec-ix-hidden:c108965792">one</span> prime contractor under which the Company has multiple subcontracts represented 70.1% of the Company’s outstanding accounts receivable in aggregate.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">As of <em style="font: inherit;"> December 31, 2022, </em>the Company’s accounts receivable included receivables from <span style="-sec-ix-hidden:c108965794">one</span> prime contract and <span style="-sec-ix-hidden:c108965795">one</span> subcontract under federal procurements that represented 26.5% and 25.8% of the Company’s outstanding accounts receivable, respectively. Receivables from <span style="-sec-ix-hidden:c108965798">one</span> prime contractor under which the Company has multiple subcontracts represented 39.2% of the Company’s outstanding accounts receivable in aggregate.</p>
CY2023Q1 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
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935974 usd
CY2023Q1 wavd Cash After Closing
CashAfterClosing
133148 usd
CY2023Q1 wavd Disposal Group Including Discontinued Operation Buyer Stock
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CY2023Q1 us-gaap Business Combination Contingent Consideration Asset Noncurrent
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CY2023Q1 wavd Sharebased Compensation Arrangement By Sharebased Payment Award Income Previously Recognized As Stocked Based Compensation Expense
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CY2023 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2022 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2022 wavd Contract With Customer Liability Additions
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CY2022 wavd Contract With Customer Liability Revenue Recognized During Period
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CY2023 wavd Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
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CY2023 wavd Contract With Customer Liability Revenue Recognized During Period
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CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
114540 usd
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
159307 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
160809 usd
CY2021Q4 wavd Deferred Costs Of Revenue
DeferredCostsOfRevenue
154218 usd
CY2022 wavd Deferred Costs Of Revenue Added
DeferredCostsOfRevenueAdded
223148 usd
CY2022 wavd Deferred Costs Of Revenue Expense
DeferredCostsOfRevenueExpense
220647 usd
CY2022Q4 wavd Deferred Costs Of Revenue
DeferredCostsOfRevenue
156719 usd
CY2023 wavd Deferred Costs Of Revenue Added
DeferredCostsOfRevenueAdded
100098 usd
CY2023 wavd Deferred Costs Of Revenue Expense
DeferredCostsOfRevenueExpense
168829 usd
CY2023Q4 wavd Deferred Costs Of Revenue
DeferredCostsOfRevenue
87988 usd
CY2023 wavd Lessee Operating Lease Rent Escalations Percentage
LesseeOperatingLeaseRentEscalationsPercentage
0.025 pure
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P25M
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.051 pure
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
174721 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
74804 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
70220 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
319745 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
19811 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
299934 usd
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
152211 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
214241 usd
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
1117862 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
1629559 usd
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
1664862 usd
CY2021Q4 wavd Business Combination Contingent Consideration Asset Fair Value Disclosure
BusinessCombinationContingentConsiderationAssetFairValueDisclosure
930000 usd
CY2022 wavd Business Combination Contingent Consideration Asset Additions Fair Value Disclosure
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0 usd
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
-930000 usd
CY2022Q4 wavd Business Combination Contingent Consideration Asset Fair Value Disclosure
BusinessCombinationContingentConsiderationAssetFairValueDisclosure
0 usd
CY2023 wavd Business Combination Contingent Consideration Asset Additions Fair Value Disclosure
BusinessCombinationContingentConsiderationAssetAdditionsFairValueDisclosure
682000 usd
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
0 usd
CY2023 wavd Business Combination Contingent Consideration Asset Settlements Fair Value Disclosure
BusinessCombinationContingentConsiderationAssetSettlementsFairValueDisclosure
-682000 usd
CY2023Q4 wavd Business Combination Contingent Consideration Asset Fair Value Disclosure
BusinessCombinationContingentConsiderationAssetFairValueDisclosure
0 usd
CY2022Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
2254624 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
490619 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
490619 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
432620 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
391628 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
57999 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
98991 usd
CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
40992 usd
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
43742 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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308217 usd
CY2023 us-gaap Amortization Of Intangible Assets
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176244 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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484461 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
901783 usd
CY2023 us-gaap Amortization Of Intangible Assets
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176244 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
725539 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
1181783 usd
CY2023 us-gaap Amortization Of Intangible Assets
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176244 usd
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
1005539 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
146307 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
136248 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
136248 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
136248 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
136248 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
34240 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
725539 usd
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
3101 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-2533 usd
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-3450 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-7566 usd
CY2023 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
-349 usd
CY2022 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
-10099 usd
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-25650 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2023 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
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CY2022 us-gaap Deferred Federal State And Local Tax Expense Benefit
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CY2023 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Note <em style="font: inherit;">14.</em></b>         <b>Common Stock Purchase Agreement</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">On <em style="font: inherit;"> July 8, 2022, </em>we entered into a Common Stock Purchase Agreement (the “Purchase Agreement”) and a Registration Rights Agreement (the “Registration Rights Agreement”) with B. Riley Principal Capital II, LLC (“B. Riley”). Pursuant to the Purchase Agreement, subject to certain limitations and conditions, the Company has the right, but <em style="font: inherit;">not</em> the obligation, to sell to B. Riley up to $15,000,000 of shares of the Company’s common stock, par value $0.001 per share (“Common Stock”), from time to time. Sales of Common Stock to B. Riley under the Purchase Agreement, and the timing of any such sales, are solely at the Company’s option, and the Company is under <em style="font: inherit;">no</em> obligation to sell any securities to B. Riley under the Purchase Agreement. Pursuant to the Registration Rights Agreement, the Company agreed to file a registration statement with the Securities Exchange Commission (the “SEC”) to register under the Securities Act of <em style="font: inherit;">1933,</em> as amended (the “Securities Act”) the resale by B. Riley of up to 4,500,000 shares of Common Stock that the Company <em style="font: inherit;"> may </em>issue or elect, in the Company’s sole discretion, to issue and sell to B. Riley, from time to time under the Purchase Agreement. We issued 119,780 common shares valued at $150,000 to B. Riley as a commitment fee. The cost of the shares was charged to additional paid in capital during the <em style="font: inherit;">twelve</em> months ended <em style="font: inherit;"> December </em><em style="font: inherit;">31,</em> <em style="font: inherit;">2023.</em></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">During the <em style="font: inherit;">twelve</em> months ended <em style="font: inherit;"> December </em><em style="font: inherit;">31,</em> <em style="font: inherit;">2023,</em> the Company sold 27,429 shares of common stock under the Purchase Agreement at an average price of $6.30 per share, net of fees of approximately $0.30 per share. The net proceeds from these sales were $172,108. There were no sales under the Purchase Agreement during the <em style="font: inherit;">twelve</em> months ended <em style="font: inherit;"> December </em><em style="font: inherit;">31,</em> <em style="font: inherit;">2022.</em></p>
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