2024 Q3 Form 10-Q Financial Statement

#000155837024010883 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $18.81M $23.16M
YoY Change -25.39% -1.52%
Cost Of Revenue $7.090M $9.778M
YoY Change -28.66% -14.27%
Gross Profit $11.72M $13.39M
YoY Change -23.25% 10.48%
Gross Profit Margin 62.32% 57.79%
Selling, General & Admin $14.67M $19.09M
YoY Change -22.85% -15.92%
% of Gross Profit 125.15% 142.64%
Research & Development $4.474M $5.288M
YoY Change -13.51% -15.7%
% of Gross Profit 38.16% 39.5%
Depreciation & Amortization $1.825M $1.926M
YoY Change -28.99% 4.28%
% of Gross Profit 15.57% 14.39%
Operating Expenses $20.07M $24.47M
YoY Change -25.18% -21.97%
Operating Profit -$8.349M -$11.08M
YoY Change -27.72% -42.4%
Interest Expense -$2.625M -$2.606M
YoY Change 17.24% 19.82%
% of Operating Profit
Other Income/Expense, Net -$36.00K -$80.00K
YoY Change -80.54% -23.81%
Pretax Income -$10.49M -$13.10M
YoY Change -18.7% -36.96%
Income Tax $44.00K $47.00K
% Of Pretax Income
Net Earnings -$10.53M -$13.15M
YoY Change -18.45% -36.79%
Net Earnings / Revenue -55.98% -56.76%
Basic Earnings Per Share -$0.21 -$0.27
Diluted Earnings Per Share -$0.21 -$0.27
COMMON SHARES
Basic Shares Outstanding 49.50M 49.39M
Diluted Shares Outstanding 49.50M 49.42M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.90M $45.22M
YoY Change -54.33% -51.54%
Cash & Equivalents $12.56M $8.923M
Short-Term Investments $23.34M $36.30M
Other Short-Term Assets $2.967M $2.938M
YoY Change -15.35% -23.59%
Inventory $25.21M $24.80M
Prepaid Expenses
Receivables $12.79M $16.55M
Other Receivables $0.00 $0.00
Total Short-Term Assets $76.86M $89.51M
YoY Change -34.28% -29.05%
LONG-TERM ASSETS
Property, Plant & Equipment $7.546M $8.164M
YoY Change -30.41% -26.71%
Goodwill $18.26M $18.26M
YoY Change 0.0% 0.0%
Intangibles $15.27M $15.99M
YoY Change -15.73% -16.41%
Long-Term Investments $3.399M $3.496M
YoY Change
Other Assets $731.0K $647.0K
YoY Change 11.77% -6.91%
Total Long-Term Assets $53.11M $54.23M
YoY Change -11.91% -13.52%
TOTAL ASSETS
Total Short-Term Assets $76.86M $89.51M
Total Long-Term Assets $53.11M $54.23M
Total Assets $130.0M $143.7M
YoY Change -26.67% -23.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.760M $9.785M
YoY Change -26.32% -16.6%
Accrued Expenses $9.368M $13.17M
YoY Change -29.0% -10.58%
Deferred Revenue $6.188M $6.461M
YoY Change -9.66% -10.44%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.026M $642.0K
YoY Change 28.25% -21.9%
Total Short-Term Liabilities $27.99M $32.74M
YoY Change -21.2% -12.44%
LONG-TERM LIABILITIES
Long-Term Debt $75.90M $75.68M
YoY Change 18.94% 18.93%
Other Long-Term Liabilities $40.00K $40.00K
YoY Change -71.43% -99.73%
Total Long-Term Liabilities $75.94M $75.72M
YoY Change 18.74% 19.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.99M $32.74M
Total Long-Term Liabilities $75.94M $75.72M
Total Liabilities $116.3M $121.5M
YoY Change 0.93% 3.86%
SHAREHOLDERS EQUITY
Retained Earnings -$277.2M -$266.7M
YoY Change 26.44% 29.25%
Common Stock $2.000K $2.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.63M $22.25M
YoY Change
Total Liabilities & Shareholders Equity $130.0M $143.7M
YoY Change -26.67% -23.9%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$10.53M -$13.15M
YoY Change -18.45% -36.79%
Depreciation, Depletion And Amortization $1.825M $1.926M
YoY Change -28.99% 4.28%
Cash From Operating Activities -$9.256M -$11.04M
YoY Change -32.73% -6.46%
INVESTING ACTIVITIES
Capital Expenditures $434.0K $170.0K
YoY Change -47.71% -88.05%
Acquisitions
YoY Change
Other Investing Activities $13.45M $9.224M
YoY Change
Cash From Investing Activities $13.02M $9.054M
YoY Change -1668.55% -736.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -150.0K -2.125M
YoY Change 7.14% -104.59%
NET CHANGE
Cash From Operating Activities -9.256M -11.04M
Cash From Investing Activities 13.02M 9.054M
Cash From Financing Activities -150.0K -2.125M
Net Change In Cash 3.613M -4.112M
YoY Change -124.53% -112.42%
FREE CASH FLOW
Cash From Operating Activities -$9.256M -$11.04M
Capital Expenditures $434.0K $170.0K
Free Cash Flow -$9.690M -$11.21M
YoY Change -33.58% -15.24%

Facts In Submission

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akya Operating Lease Adjustment
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us-gaap Asset Impairment Charges
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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 Payments Related To Tax Withholding For Share Based Compensation
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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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akya Right Of Use Asset Obtained In Exchange For Lease Liabilities
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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akya Number Of Geographic Regions For Sales
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CY2024Q2 us-gaap Cash Cash Equivalents And Short Term Investments
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CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q2 us-gaap Contract With Customer Asset Net
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CY2023Q4 us-gaap Contract With Customer Asset Net
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
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CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
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CY2024Q2 akya Cash Cash Equivalents And Marketable Securities Cost Basis Due One To Two Years
CashCashEquivalentsAndMarketableSecuritiesCostBasisDueOneToTwoYears
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CY2024Q2 akya Cash Cash Equivalents And Marketable Securities Gross Unrealized Losses Due One To Two Years
CashCashEquivalentsAndMarketableSecuritiesGrossUnrealizedLossesDueOneToTwoYears
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CY2024Q2 akya Cash Cash Equivalents And Marketable Securities Fair Value Disclosure Due One To Two Years
CashCashEquivalentsAndMarketableSecuritiesFairValueDisclosureDueOneToTwoYears
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CY2024Q2 akya Cash Cash Equivalents And Marketable Securities Cost Basis
CashCashEquivalentsAndMarketableSecuritiesCostBasis
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CY2024Q2 akya Cash Cash Equivalents And Marketable Securities Gross Unrealized Losses
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CY2024Q2 akya Cash Cash Equivalents And Marketable Securities Fair Value Disclosure
CashCashEquivalentsAndMarketableSecuritiesFairValueDisclosure
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CY2023Q4 akya Cash Cash Equivalents And Marketable Securities Cost Basis
CashCashEquivalentsAndMarketableSecuritiesCostBasis
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CY2023Q4 akya Cash Cash Equivalents And Marketable Securities Fair Value Disclosure
CashCashEquivalentsAndMarketableSecuritiesFairValueDisclosure
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akya Number Of Debt Securities Held
NumberOfDebtSecuritiesHeld
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CY2024Q2 us-gaap Property Plant And Equipment Gross
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CY2023Q4 us-gaap Property Plant And Equipment Gross
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2024Q2 us-gaap Property Plant And Equipment Net
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CY2023Q4 us-gaap Property Plant And Equipment Net
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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
ImpairmentOfLongLivedAssetsHeldForUse
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CY2023Q2 akya Demo Inventory Estimated Useful Life
DemoInventoryEstimatedUsefulLife
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CY2024Q2 akya Demo Inventory Estimated Useful Life
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CY2024Q2 akya Demo Inventory Gross
DemoInventoryGross
4272000
CY2023Q4 akya Demo Inventory Gross
DemoInventoryGross
4284000
CY2024Q2 akya Accumulated Depreciation Depletion And Amortization Demo Inventory
AccumulatedDepreciationDepletionAndAmortizationDemoInventory
3606000
CY2023Q4 akya Accumulated Depreciation Depletion And Amortization Demo Inventory
AccumulatedDepreciationDepletionAndAmortizationDemoInventory
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CY2024Q2 akya Demo Inventory Net
DemoInventoryNet
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CY2023Q4 akya Demo Inventory Net
DemoInventoryNet
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CY2024Q2 us-gaap Accounts Receivable Gross Current
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CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
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us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
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CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
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FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
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CY2024Q2 us-gaap Finite Lived Intangible Assets Net
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CY2023Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
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CY2024Q2 akya Accrued Inventory Purchases
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CY2023Q4 akya Accrued Inventory Purchases
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CY2024Q2 akya Customer Deposit Liability Current
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CY2023Q4 akya Customer Deposit Liability Current
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CY2024Q2 us-gaap Deposit Liabilities Accrued Interest
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CY2023Q4 us-gaap Deposit Liabilities Accrued Interest
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CY2024Q2 us-gaap Accrued Liabilities Current
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CY2023Q4 us-gaap Accrued Liabilities Current
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CY2024Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
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CY2023Q4 us-gaap Debt Instrument Unamortized Discount
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CY2024Q2 akya Debt Instrument Accretion Of Fee
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CY2023Q4 akya Debt Instrument Accretion Of Fee
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CY2024Q2 us-gaap Long Term Debt
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CY2023Q4 us-gaap Long Term Debt
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CY2023Q2 us-gaap Common Stock Shares Authorized
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CY2024Q2 us-gaap Common Stock Shares Authorized
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CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
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CY2024Q2 us-gaap Preferred Stock Shares Authorized
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CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2023Q4 us-gaap Common Stock Shares Issued
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CY2024Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
47000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2023Q2 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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akya Number Of Countries With Concentration Risk
NumberOfCountriesWithConcentrationRisk
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akya Number Of Countries With Concentration Risk
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us-gaap Asset Impairment Charges
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us-gaap Asset Impairment Charges
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CY2023Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
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us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
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us-gaap Finance Lease Interest Expense
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us-gaap Lease Cost
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us-gaap Lease Cost
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2102000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1104000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
436000
CY2024Q2 akya Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
562000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
9025000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1190000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
7835000
CY2024Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
378000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
444000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
239000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
239000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
60000
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1360000
CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
181000
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
1179000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y4M24D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y2M12D
CY2024Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M12D
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y2M12D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0785
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0785
CY2024Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.1017
CY2023Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0911
us-gaap Operating Lease Payments
OperatingLeasePayments
1398000
us-gaap Operating Lease Payments
OperatingLeasePayments
1533000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
65000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
64000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
354000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
321000
us-gaap Restructuring Charges
RestructuringCharges
1257000
akya Employee And Equipment Relocation Costs
EmployeeAndEquipmentRelocationCosts
140000
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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akya-20240630_cal.xml Edgar Link unprocessable
0001558370-24-010883-index-headers.html Edgar Link pending
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akya-20240630.xsd Edgar Link pending
akya-20240630x10q.htm Edgar Link pending
akya-20240630xex10d1.htm Edgar Link pending
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akya-20240630_def.xml Edgar Link unprocessable
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akya-20240630x10q_htm.xml Edgar Link completed
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akya-20240630_pre.xml Edgar Link unprocessable