$AIRG
AIRGAIN INC

2018 Q1 Form 10-Q Financial Statement

#000156459018012928 Filed on May 10, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $13.31M $11.25M
YoY Change 18.24% 32.19%
Cost Of Revenue $7.111M $5.964M
YoY Change 19.23% 23.36%
Gross Profit $6.194M $5.288M
YoY Change 17.12% 43.8%
Gross Profit Margin 46.55% 47.0%
Selling, General & Admin $5.089M $3.266M
YoY Change 55.8% 45.87%
% of Gross Profit 82.16% 61.76%
Research & Development $2.269M $1.597M
YoY Change 42.1% 20.82%
% of Gross Profit 36.63% 30.19%
Depreciation & Amortization $121.4K $115.4K
YoY Change 5.17% -1.7%
% of Gross Profit 1.96% 2.18%
Operating Expenses $7.358M $4.863M
YoY Change 51.31% 36.57%
Operating Profit -$1.164M $425.5K
YoY Change -373.5% 264.3%
Interest Expense $13.90K $30.76K
YoY Change -54.8% -41.37%
% of Operating Profit 7.23%
Other Income/Expense, Net $96.53K $6.437K
YoY Change 1399.57% -75.58%
Pretax Income -$1.067M $431.9K
YoY Change -347.07% 201.72%
Income Tax $38.65K $46.83K
% Of Pretax Income 10.84%
Net Earnings -$1.106M $385.1K
YoY Change -387.21% 176.74%
Net Earnings / Revenue -8.31% 3.42%
Basic Earnings Per Share -$0.12 $0.04
Diluted Earnings Per Share -$0.12 $0.04
COMMON SHARES
Basic Shares Outstanding 9.480M 9.360M
Diluted Shares Outstanding 9.480M 10.20M

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.98M $41.86M
YoY Change -21.21% 936.14%
Cash & Equivalents $15.46M $41.86M
Short-Term Investments $17.52M
Other Short-Term Assets $1.180M $320.0K
YoY Change 268.75% 113.33%
Inventory $520.0K $110.0K
Prepaid Expenses
Receivables $8.180M $7.510M
Other Receivables $0.00 $0.00
Total Short-Term Assets $42.86M $49.80M
YoY Change -13.94% 529.58%
LONG-TERM ASSETS
Property, Plant & Equipment $1.420M $810.0K
YoY Change 75.31% -14.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $290.0K $190.0K
YoY Change 52.63% 137.5%
Total Long-Term Assets $10.36M $5.260M
YoY Change 96.96% -7.23%
TOTAL ASSETS
Total Short-Term Assets $42.86M $49.80M
Total Long-Term Assets $10.36M $5.260M
Total Assets $53.22M $55.06M
YoY Change -3.34% 305.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.220M $3.990M
YoY Change 5.76% 58.33%
Accrued Expenses $1.800M $1.400M
YoY Change 28.57% -30.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $1.330M
YoY Change -24.81% -17.39%
Total Short-Term Liabilities $8.100M $7.810M
YoY Change 3.71% 25.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $1.000M
YoY Change -100.0% -66.22%
Other Long-Term Liabilities $320.0K $420.0K
YoY Change -23.81% -20.75%
Total Long-Term Liabilities $320.0K $1.420M
YoY Change -77.46% -59.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.100M $7.810M
Total Long-Term Liabilities $320.0K $1.420M
Total Liabilities $8.430M $9.250M
YoY Change -8.86% -4.84%
SHAREHOLDERS EQUITY
Retained Earnings -$43.17M
YoY Change
Common Stock $949.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $44.80M $45.82M
YoY Change
Total Liabilities & Shareholders Equity $53.22M $55.06M
YoY Change -3.35% 305.48%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$1.106M $385.1K
YoY Change -387.21% 176.74%
Depreciation, Depletion And Amortization $121.4K $115.4K
YoY Change 5.17% -1.7%
Cash From Operating Activities -$1.827M -$3.120M
YoY Change -41.45% 267.06%
INVESTING ACTIVITIES
Capital Expenditures $503.2K $119.3K
YoY Change 321.76% 190.79%
Acquisitions
YoY Change
Other Investing Activities $3.780M
YoY Change
Cash From Investing Activities $3.273M -$120.0K
YoY Change -2827.16% 200.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $779.9K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.010M -60.00K
YoY Change 1582.57% -85.0%
NET CHANGE
Cash From Operating Activities -1.827M -3.120M
Cash From Investing Activities 3.273M -120.0K
Cash From Financing Activities -1.010M -60.00K
Net Change In Cash 436.4K -3.300M
YoY Change -113.23% 155.81%
FREE CASH FLOW
Cash From Operating Activities -$1.827M -$3.120M
Capital Expenditures $503.2K $119.3K
Free Cash Flow -$2.330M -$3.239M
YoY Change -28.08% 263.55%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2018Q1 us-gaap Use Of Estimates
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<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include valuation of intangible assets and goodwill.</p></div>
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2.25
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
8.49
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y1M6D
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2804129
CY2018Q1 airg Share Based Compensation Arrangement By Share Based Payment Award Options Granted Weighted Average Remaining Contractual Term1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm1
P9Y9M21D
CY2018Q1 airg Share Based Compensation Arrangement By Share Based Payment Award Options Exercised Weighted Average Remaining Contractual Term1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedWeightedAverageRemainingContractualTerm1
P3Y11M1D
CY2018Q1 airg Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled Weighted Average Remaining Contractual Term1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledWeightedAverageRemainingContractualTerm1
P21D
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y6M25D
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y8M19D
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y6M25D
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.31
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.02
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3596624
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
921408
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1469154
CY2018Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
4594157
CY2017Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
2453342
CY2018Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
782298
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
832020
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
502461
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
134529
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
22527
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
2273835

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