$AWRE
AWARE INC /MA/

2022 Q1 Form 10-Q Financial Statement

#000156459022016060 Filed on April 27, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $4.692M $4.419M
YoY Change 6.18% 25.61%
Cost Of Revenue $314.0K $383.0K
YoY Change -18.02% 125.29%
Gross Profit $4.378M $4.036M
YoY Change 8.47% 20.55%
Gross Profit Margin 93.31% 91.33%
Selling, General & Admin $3.242M $3.089M
YoY Change 4.95% 27.49%
% of Gross Profit 74.05% 76.54%
Research & Development $2.424M $2.396M
YoY Change 1.17% 5.46%
% of Gross Profit 55.37% 59.37%
Depreciation & Amortization $225.0K $177.0K
YoY Change 27.12% 34.09%
% of Gross Profit 5.14% 4.39%
Operating Expenses $5.666M $5.485M
YoY Change 3.3% 16.83%
Operating Profit -$1.288M -$1.449M
YoY Change -11.11% 7.57%
Interest Expense $9.000K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.279M -$1.448M
YoY Change -11.67% 20.77%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.278M -$1.448M
YoY Change -11.74% 36.6%
Net Earnings / Revenue -27.24% -32.77%
Basic Earnings Per Share -$0.06 -$0.07
Diluted Earnings Per Share -$59.10K -$0.07
COMMON SHARES
Basic Shares Outstanding 21.64M 21.49M
Diluted Shares Outstanding 21.64M 21.49M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.08M $36.00M
YoY Change -30.33% -23.24%
Cash & Equivalents $25.10M $36.04M
Short-Term Investments
Other Short-Term Assets $985.0K $500.0K
YoY Change 97.0% 66.67%
Inventory
Prepaid Expenses
Receivables $7.306M $2.872M
Other Receivables $1.411M $0.00
Total Short-Term Assets $34.78M $41.93M
YoY Change -17.03% -19.99%
LONG-TERM ASSETS
Property, Plant & Equipment $3.095M $3.567M
YoY Change -13.23% -8.54%
Goodwill $1.651M
YoY Change
Intangibles $1.174M
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $11.84M $7.790M
YoY Change 51.99% 94.75%
TOTAL ASSETS
Total Short-Term Assets $34.78M $41.93M
Total Long-Term Assets $11.84M $7.790M
Total Assets $46.62M $49.72M
YoY Change -6.22% -11.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $472.0K $504.0K
YoY Change -6.35% 152.0%
Accrued Expenses $1.260M $1.303M
YoY Change -3.3% 8.58%
Deferred Revenue $3.417M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.209M $5.224M
YoY Change -0.29% 30.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $742.0K $100.0K
YoY Change 642.0%
Total Long-Term Liabilities $742.0K $100.0K
YoY Change 642.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.209M $5.224M
Total Long-Term Liabilities $742.0K $100.0K
Total Liabilities $5.951M $5.400M
YoY Change 10.2% 35.0%
SHAREHOLDERS EQUITY
Retained Earnings -$52.10M
YoY Change
Common Stock $96.46M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $40.67M $44.37M
YoY Change
Total Liabilities & Shareholders Equity $46.62M $49.72M
YoY Change -6.22% -11.85%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$1.278M -$1.448M
YoY Change -11.74% 36.6%
Depreciation, Depletion And Amortization $225.0K $177.0K
YoY Change 27.12% 34.09%
Cash From Operating Activities -$2.381M -$2.471M
YoY Change -3.64% 350.09%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$2.500M
YoY Change
Cash From Investing Activities -$2.500M $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -54.00K
YoY Change -100.0% 8.0%
NET CHANGE
Cash From Operating Activities -2.381M -2.471M
Cash From Investing Activities -2.500M 0.000
Cash From Financing Activities 0.000 -54.00K
Net Change In Cash -2.500M -2.525M
YoY Change -0.99% 185.31%
FREE CASH FLOW
Cash From Operating Activities -$2.381M -$2.471M
Capital Expenditures $0.00
Free Cash Flow -$2.471M
YoY Change 195.93%

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<p style="text-align:justify;margin-bottom:0pt;margin-top:20pt;text-indent:0%;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;margin-left:5.39%;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of our financial statements in conformity with accounting principles generally accepted in the United States of America requires us 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 amount of revenues and expenses during the reporting period.  The most significant estimates included in the financial statements pertain to revenue recognition, reserves for doubtful accounts, valuation of acquired assets and assumed liabilities in business combinations, valuation of earn-out liability, valuation of the investment in the note receivable, goodwill and long-lived asset impairment and valuation allowance for deferred income tax assets.  Actual results could differ from those estimates.</p>
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