2024 Q4 Form 10-Q Financial Statement

#000187094024000045 Filed on November 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $42.55M
YoY Change -9.07%
Cost Of Revenue $15.97M
YoY Change -4.28%
Gross Profit $26.58M
YoY Change -11.75%
Gross Profit Margin 62.48%
Selling, General & Admin $25.50M
YoY Change 1.86%
% of Gross Profit 95.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.003M
YoY Change 14.23%
% of Gross Profit 11.3%
Operating Expenses $25.50M
YoY Change 1.86%
Operating Profit -$3.716M
YoY Change -489.11%
Interest Expense -$1.591M
YoY Change -186.66%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$5.307M
YoY Change 502.38%
Income Tax $700.0K
% Of Pretax Income
Net Earnings -$6.040M
YoY Change 262.33%
Net Earnings / Revenue -14.2%
Basic Earnings Per Share -$0.10
Diluted Earnings Per Share -$0.10
COMMON SHARES
Basic Shares Outstanding 57.88M shares 57.59M shares
Diluted Shares Outstanding 57.65M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.972M
YoY Change -31.36%
Cash & Equivalents $5.972M
Short-Term Investments
Other Short-Term Assets $4.148M
YoY Change 22.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $12.89M
YoY Change -21.44%
LONG-TERM ASSETS
Property, Plant & Equipment $36.28M
YoY Change 25.49%
Goodwill $81.70M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.319M
YoY Change 88.46%
Total Long-Term Assets $195.4M
YoY Change 4.07%
TOTAL ASSETS
Total Short-Term Assets $12.89M
Total Long-Term Assets $195.4M
Total Assets $208.2M
YoY Change 2.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.792M
YoY Change 90.68%
Accrued Expenses $3.898M
YoY Change 14.08%
Deferred Revenue $2.343M
YoY Change 50.0%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $3.719M
YoY Change 75.01%
Total Short-Term Liabilities $25.35M
YoY Change 28.06%
LONG-TERM LIABILITIES
Long-Term Debt $66.42M
YoY Change -5.92%
Other Long-Term Liabilities $1.167M
YoY Change 13.85%
Total Long-Term Liabilities $67.59M
YoY Change -5.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.35M
Total Long-Term Liabilities $67.59M
Total Liabilities $125.7M
YoY Change 4.82%
SHAREHOLDERS EQUITY
Retained Earnings -$22.77M
YoY Change 52.02%
Common Stock $58.00K
YoY Change 1.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $82.54M
YoY Change
Total Liabilities & Shareholders Equity $208.2M
YoY Change 2.02%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$6.040M
YoY Change 262.33%
Depreciation, Depletion And Amortization $3.003M
YoY Change 14.23%
Cash From Operating Activities $1.830M
YoY Change 190.48%
INVESTING ACTIVITIES
Capital Expenditures $4.899M
YoY Change 132.18%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$4.899M
YoY Change 132.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -825.0K
YoY Change -92.24%
NET CHANGE
Cash From Operating Activities 1.830M
Cash From Investing Activities -4.899M
Cash From Financing Activities -825.0K
Net Change In Cash -3.894M
YoY Change -67.84%
FREE CASH FLOW
Cash From Operating Activities $1.830M
Capital Expenditures $4.899M
Free Cash Flow -$3.069M
YoY Change 107.36%

Facts In Submission

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CY2024Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2024Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Secured Debt
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us-gaap Payments Of Debt Restructuring Costs
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us-gaap Payments Of Distributions To Affiliates
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us-gaap Payments Of Distributions To Affiliates
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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us-gaap Income Taxes Paid
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us-gaap Income Taxes Paid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2021Q4 us-gaap Common Stock Shares Outstanding
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CY2021Q4 airs Business Reorganization Ownership Interest
BusinessReorganizationOwnershipInterest
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us-gaap Use Of Estimates
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<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Accounting Estimates</span></div><div style="margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, </span></div><div style="margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div>
us-gaap Concentration Risk Credit Risk
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<div style="margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company maintains cash balances at financial institutions which may at times exceed the amount covered by the Federal Deposit Insurance Corporation. The Company has not experienced any losses in such accounts.</span></div>
CY2024Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
100000 usd
CY2023Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
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us-gaap Amortization Of Financing Costs
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us-gaap Amortization Of Financing Costs
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CY2024Q3 us-gaap Impairment Of Long Lived Assets Held For Use
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us-gaap Impairment Of Long Lived Assets Held For Use
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us-gaap Impairment Of Long Lived Assets Held For Use
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CY2024Q3 us-gaap Advertising Expense
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6900000 usd
CY2023Q3 us-gaap Advertising Expense
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6500000 usd
us-gaap Advertising Expense
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26300000 usd
us-gaap Advertising Expense
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19500000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
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CY2024Q3 us-gaap Unrecognized Tax Benefits
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q4 us-gaap Goodwill
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81700000 usd
CY2024Q3 us-gaap Goodwill
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CY2024Q3 us-gaap Finite Lived Intangible Assets Gross
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71300000 usd
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71300000 usd
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CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
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CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2024Q3 us-gaap Amortization Of Intangible Assets
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1200000 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
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1200000 usd
us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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16602000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11700000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
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28908000 usd
us-gaap Depreciation
Depreciation
5100000 usd
us-gaap Depreciation
Depreciation
3900000 usd
CY2024Q3 us-gaap Deferred Finance Costs Net
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1247000 usd
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CY2023Q4 us-gaap Long Term Debt
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CY2024Q3 us-gaap Long Term Debt Noncurrent
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531000 usd
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4250000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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6375000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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60125000 usd
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
71281000 usd
CY2023Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
0 usd
CY2024Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
0 usd
airs Lessee Operating Lease Number Of Renewal Options
LesseeOperatingLeaseNumberOfRenewalOptions
1 renewal_option
us-gaap Operating Lease Payments
OperatingLeasePayments
4907000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
3852000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
8035000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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8991000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1777000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
7445000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
7335000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6763000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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5946000 usd
CY2024Q3 airs Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
16715000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
45981000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
13931000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
32050000 usd
CY2024Q1 airs Share Based Payment Arrangement Performance Achievement Probability Reversal Of Expense
ShareBasedPaymentArrangementPerformanceAchievementProbabilityReversalOfExpense
10400000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3400000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4500000 usd
us-gaap Allocated Share Based Compensation Expense
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1500000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13500000 usd
us-gaap Payments Of Dividends
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14000 usd
us-gaap Payments Of Dividends
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206000 usd
CY2024Q3 us-gaap Net Income Loss
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-6040000 usd
CY2023Q3 us-gaap Net Income Loss
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-1667000 usd
us-gaap Net Income Loss
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-3217000 usd
us-gaap Net Income Loss
NetIncomeLoss
95000 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57650923 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56785087 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57543678 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56661903 shares
CY2024Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1667782 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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57650923 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56785087 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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57543678 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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58329685 shares
CY2024Q3 us-gaap Earnings Per Share Basic
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-0.10
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023Q3 us-gaap Earnings Per Share Diluted
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CY2023Q3 us-gaap Earnings Per Share Basic
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-0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
700000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
800000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
900000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2500000 usd
CY2024Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.138
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.892
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.385
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.964
CY2023Q4 us-gaap Unrecognized Tax Benefits
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0 usd
CY2024Q3 us-gaap Unrecognized Tax Benefits
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0 usd
CY2024Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
900000 usd
us-gaap Number Of Reportable Segments
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1 reportable_segment
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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