2024 Q1 Form 10-Q Financial Statement

#000143774924002041 Filed on January 24, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4
Revenue $42.03M $39.35M
YoY Change 32.4% 64.79%
Cost Of Revenue $31.60M $29.37M
YoY Change 13.13% 25.7%
Gross Profit $10.43M $9.984M
YoY Change 173.56% 1831.14%
Gross Profit Margin 24.82% 25.37%
Selling, General & Admin $7.952M $7.833M
YoY Change 20.19% 9.2%
% of Gross Profit 76.23% 78.46%
Research & Development $2.298M $2.199M
YoY Change 21.59% 5.57%
% of Gross Profit 22.03% 22.03%
Depreciation & Amortization $1.134M $600.0K
YoY Change -9.79% 0.0%
% of Gross Profit 10.87% 6.01%
Operating Expenses $12.66M $11.42M
YoY Change 31.8% 17.44%
Operating Profit -$2.227M -$1.438M
YoY Change -61.54% -84.38%
Interest Expense $784.0K $150.0K
YoY Change 460.0% 257.14%
% of Operating Profit
Other Income/Expense, Net -$118.0K -$298.0K
YoY Change 18.0% 3.83%
Pretax Income -$1.561M -$1.586M
YoY Change -77.04% -83.22%
Income Tax $18.00K $100.0K
% Of Pretax Income
Net Earnings -$11.11M -$1.649M
YoY Change 61.73% -82.79%
Net Earnings / Revenue -26.44% -4.19%
Basic Earnings Per Share -$0.37 -$0.06
Diluted Earnings Per Share -$0.37 -$0.06
COMMON SHARES
Basic Shares Outstanding 30.74M 30.32M
Diluted Shares Outstanding 29.83M 29.09M

Balance Sheet

Concept 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $90.52M $23.98M
YoY Change 287.51% 1.24%
Cash & Equivalents $90.52M $23.98M
Short-Term Investments
Other Short-Term Assets $7.763M $7.302M
YoY Change -48.8% -48.53%
Inventory $41.86M $44.20M
Prepaid Expenses
Receivables $26.33M $24.72M
Other Receivables $0.00 $0.00
Total Short-Term Assets $166.5M $100.2M
YoY Change 56.79% 6.41%
LONG-TERM ASSETS
Property, Plant & Equipment $10.86M $11.21M
YoY Change -11.76% -11.15%
Goodwill $43.47M $43.47M
YoY Change 0.0% 0.0%
Intangibles $6.369M $6.907M
YoY Change -25.31% -25.05%
Long-Term Investments $0.00
YoY Change
Other Assets $637.0K $640.0K
YoY Change 20.64% 47.81%
Total Long-Term Assets $66.30M $66.14M
YoY Change -4.44% -6.72%
TOTAL ASSETS
Total Short-Term Assets $166.5M $100.2M
Total Long-Term Assets $66.30M $66.14M
Total Assets $232.8M $166.3M
YoY Change 32.59% 0.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.476M $5.867M
YoY Change -67.88% -56.69%
Accrued Expenses $17.86M $15.55M
YoY Change 18.96% -1.39%
Deferred Revenue $50.73M $52.60M
YoY Change 16.43% 53.62%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $25.00K $41.00K
YoY Change -66.67% -43.06%
Total Short-Term Liabilities $78.81M $77.55M
YoY Change -6.3% 13.96%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $27.00K $26.00K
YoY Change 3.85% 8.33%
Total Long-Term Liabilities $27.00K $26.00K
YoY Change -34.15% -55.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $78.81M $77.55M
Total Long-Term Liabilities $27.00K $26.00K
Total Liabilities $88.20M $86.82M
YoY Change -5.93% 11.5%
SHAREHOLDERS EQUITY
Retained Earnings -$1.067B -$1.065B
YoY Change 1.06% 1.53%
Common Stock $1.213B $1.147B
YoY Change 6.48% 0.77%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.639M $3.639M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $144.6M $79.53M
YoY Change
Total Liabilities & Shareholders Equity $232.8M $166.3M
YoY Change 32.59% 0.77%

Cashflow Statement

Concept 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$11.11M -$1.649M
YoY Change 61.73% -82.79%
Depreciation, Depletion And Amortization $1.134M $600.0K
YoY Change -9.79% 0.0%
Cash From Operating Activities $2.235M $1.253M
YoY Change -141.25% -122.8%
INVESTING ACTIVITIES
Capital Expenditures $299.0K $205.0K
YoY Change 12.41% -50.0%
Acquisitions
YoY Change
Other Investing Activities -$19.00K $2.000K
YoY Change -78.16% -102.11%
Cash From Investing Activities -$318.0K -$203.0K
YoY Change -9.92% -59.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 65.35M -13.00K
YoY Change 71717.58% -45.83%
NET CHANGE
Cash From Operating Activities 2.235M 1.253M
Cash From Investing Activities -318.0K -203.0K
Cash From Financing Activities 65.35M -13.00K
Net Change In Cash 67.27M 1.037M
YoY Change -1284.35% -117.21%
FREE CASH FLOW
Cash From Operating Activities $2.235M $1.253M
Capital Expenditures $299.0K $205.0K
Free Cash Flow $1.936M $1.048M
YoY Change -134.06% -117.75%

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CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
538000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1648000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1221000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1085000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
543000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
72000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5107000 usd
CY2023Q4 us-gaap Billed Contract Receivables
BilledContractReceivables
20133000 usd
CY2023Q1 us-gaap Billed Contract Receivables
BilledContractReceivables
20707000 usd
CY2023Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
4588000 usd
CY2023Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
9958000 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
24721000 usd
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
30665000 usd
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
21197000 usd
CY2023Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
16654000 usd
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
16571000 usd
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
15200000 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
5092000 usd
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
2996000 usd
CY2023Q4 amsc Inventory For Longterm Contracts Or Programs Net Of Reserves
InventoryForLongtermContractsOrProgramsNetOfReserves
1337000 usd
CY2023Q1 amsc Inventory For Longterm Contracts Or Programs Net Of Reserves
InventoryForLongtermContractsOrProgramsNetOfReserves
2136000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
44197000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
36986000 usd
CY2023Q4 us-gaap Inventory Write Down
InventoryWriteDown
500000 usd
CY2022Q4 us-gaap Inventory Write Down
InventoryWriteDown
200000 usd
us-gaap Inventory Write Down
InventoryWriteDown
1500000 usd
us-gaap Inventory Write Down
InventoryWriteDown
1200000 usd
CY2022Q4 amsc Employee Retention Credits Receivable
EmployeeRetentionCreditsReceivable
3300000 usd
amsc Proceeds From Employee Retention Credit
ProceedsFromEmployeeRetentionCredit
3000000 usd
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
59278000 usd
CY2023Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
58651000 usd
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
48073000 usd
CY2023Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
46342000 usd
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
11205000 usd
CY2023Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
12309000 usd
CY2023Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
600000 usd
CY2022Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
600000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1700000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2000000 usd
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
5867000 usd
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
13935000 usd
CY2023Q4 amsc Accrued Inventories In Transit
AccruedInventoriesInTransit
928000 usd
CY2023Q1 amsc Accrued Inventories In Transit
AccruedInventoriesInTransit
2267000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4363000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3870000 usd
CY2023Q4 amsc Accrued Contract Loss
AccruedContractLoss
55000 usd
CY2023Q1 amsc Accrued Contract Loss
AccruedContractLoss
3464000 usd
CY2023Q4 us-gaap Deposit Liability Current
DepositLiabilityCurrent
1948000 usd
CY2023Q1 us-gaap Deposit Liability Current
DepositLiabilityCurrent
5653000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7385000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5430000 usd
CY2023Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
322000 usd
CY2023Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
409000 usd
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2031000 usd
CY2023Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2638000 usd
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
103000 usd
CY2023Q1 us-gaap Restructuring Reserve
RestructuringReserve
717000 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
23002000 usd
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
38383000 usd
CY2023Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1892000 usd
CY2022Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2053000 usd
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2638000 usd
CY2022Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2066000 usd
CY2023Q4 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
360000 usd
CY2022Q4 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
535000 usd
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
1212000 usd
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
1191000 usd
CY2023Q4 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
221000 usd
CY2022Q4 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
592000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1819000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1261000 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2031000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1996000 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2031000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1996000 usd
CY2023Q4 amsc Operating And Finance Lease Rightofuse Asset
OperatingAndFinanceLeaseRightofuseAsset
2401000 usd
CY2023Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000 usd
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
1200000 usd
CY2023Q3 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
3500000 usd
CY2023Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
2600000 usd
CY2023Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
1300000 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
900000 usd
CY2022Q3 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
1100000 usd
CY2022Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
1400000 usd
CY2022Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
1200000 usd
CY2023Q4 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
900000 usd
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
3100000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2401000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2857000 usd
CY2023Q1 amsc Operating And Finance Lease Rightofuse Asset
OperatingAndFinanceLeaseRightofuseAsset
2858000 usd
CY2023Q4 amsc Operating And Financing Lease Liabilities
OperatingAndFinancingLeaseLiabilities
2541000 usd
CY2023Q1 amsc Operating And Financing Lease Liabilities
OperatingAndFinancingLeaseLiabilities
2992000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0868 pure
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0646 pure
CY2023Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
303000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
817000 usd
CY2023Q4 us-gaap Variable Lease Cost
VariableLeaseCost
39000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
119000 usd
CY2023Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
37000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
111000 usd
CY2023Q4 us-gaap Lease Cost
LeaseCost
379000 usd
us-gaap Lease Cost
LeaseCost
1047000 usd
CY2022Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
256000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
765000 usd
CY2022Q4 us-gaap Variable Lease Cost
VariableLeaseCost
41000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
118000 usd
CY2022Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
30000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
92000 usd
CY2022Q4 us-gaap Lease Cost
LeaseCost
327000 usd
us-gaap Lease Cost
LeaseCost
975000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
234000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
841000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
793000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
646000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
392000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
15000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2921000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
380000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
400000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
700000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
600000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1700000 usd
CY2023Q1 amsc Restructuring And Related Cost Workforce To Be Reduced Percentage
RestructuringAndRelatedCostWorkforceToBeReducedPercentage
0.05 pure
CY2023Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
39353000 usd
CY2022Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
23881000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
103611000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
74241000 usd
CY2023Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-1438000 usd
CY2022Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-9209000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-9141000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-26170000 usd
CY2023Q4 us-gaap Assets
Assets
166343000 usd
CY2023Q1 us-gaap Assets
Assets
175561000 usd

Files In Submission

Name View Source Status
amsc-20231231_lab.xml Edgar Link unprocessable
amsc-20231231_def.xml Edgar Link unprocessable
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0001437749-24-002041-xbrl.zip Edgar Link pending
amsc-20231231.xsd Edgar Link pending
amsc20231231_10q.htm Edgar Link pending
ex_599683.htm Edgar Link pending
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