2024 Q4 Form 10-Q Financial Statement

#000143774924034923 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $9.758M
YoY Change 21.02%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $8.848M
YoY Change -76.99%
Operating Profit
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$2.800M
YoY Change -148.7%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$1.311M
YoY Change -92.65%
Net Earnings / Revenue -13.44%
Basic Earnings Per Share -$0.06
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 41.90M 32.10M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $8.732M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $10.26M
YoY Change 2.27%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $418.2M
YoY Change -2.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $220.9M
YoY Change 0.44%
SHAREHOLDERS EQUITY
Retained Earnings -$139.1M
YoY Change 6.75%
Common Stock $2.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $134.8M
YoY Change
Total Liabilities & Shareholders Equity $418.2M
YoY Change -2.17%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$1.311M
YoY Change -92.65%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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beep Payments On Sale Of Real Estate Other Heldforinvestment
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beep Payments For Repurchase Of Stock For Vesting Of Employee Awards
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023Q3 us-gaap Disposal Group Including Discontinued Operation Consideration
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beep Preferred Stock Redemption Amount Not Yet Paid
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beep Preferred Stock Redemption Amount Not Yet Paid
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us-gaap Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued1
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us-gaap Dividends Paidinkind
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us-gaap Dividends Paidinkind
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CY2024Q3 beep Number Of Parking Facilities
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CY2024Q3 beep Number Of Parking Spaces
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us-gaap Use Of Estimates
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"><b>Use of Estimates</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">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. Management makes significant estimates regarding stock issuance, equity compensation, asset impairment, and purchase price allocations to record investments in real estate, as applicable.</p>
us-gaap Concentration Risk Credit Risk
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Concentration</b></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">Our operators <em style="font: inherit;"> may </em>act as agents collecting revenues on our behalf or <em style="font: inherit;"> may </em>act as lessee if under a lease agreement. The revenue from locations where Metropolis Technologies, Inc. (“Metropolis”) acts as either a lease tenant or an operator agent represented 56.2% and 61.6% of our revenue, excluding commercial revenue, for the <em style="font: inherit;">nine</em> months ended <em style="font: inherit;"> September </em><em style="font: inherit;">30,</em> <em style="font: inherit;">2024</em> and <em style="font: inherit;">2023,</em> respectively. Revenue from locations where LAZ Parking ("LAZ") acts as either a lease tenant or an operator agent represented 15.3% and 3.2% of our revenue, excluding commercial revenue, for the <em style="font: inherit;">nine</em> months ended <em style="font: inherit;"> September </em><em style="font: inherit;">30,</em> <em style="font: inherit;">2024</em> and <em style="font: inherit;">2023,</em> respectively.  </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -1pt;">In addition, we had concentrations in Cincinnati (18.7% and 19.4%), Detroit (10.4% and 10.3%), and Chicago (9.2% and 9.1%) based on gross book value of real estate as of <em style="font: inherit;"> September </em><em style="font: inherit;">30,</em> <em style="font: inherit;">2024</em> and <em style="font: inherit;"> December 31, 2023, </em>respectively.</p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -1pt;">We had concentrations of our outstanding accounts receivable balance with Metropolis of 28.8% and 60.1% as of <em style="font: inherit;"> September </em><em style="font: inherit;">30,</em> <em style="font: inherit;">2024</em> and <em style="font: inherit;"> December 31, 2023, </em>respectively and with LAZ of 11.8% and 2.7% as of <em style="font: inherit;"> September </em><em style="font: inherit;">30,</em> <em style="font: inherit;">2024</em> and <em style="font: inherit;"> December 31, 2023, </em>respectively. During the <em style="font: inherit;">nine</em> months ended <em style="font: inherit;"> September </em><em style="font: inherit;">30,</em> <em style="font: inherit;">2024,</em> the majority of these receivable balances represent cash paid by parkers that was collected on our behalf by these operators.</p>
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CY2024Q3 srt Stock Repurchase Program Authorized Amount1
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CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q3 us-gaap Earnings Per Share Basic
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CY2023Q3 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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-2.13
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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40000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2024Q3 beep Lessee Operating Lease Liability To Be Paid Thereafter
LesseeOperatingLeaseLiabilityToBePaidThereafter
366000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
536000 usd
CY2023Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
-1779000 usd
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings
1143000 usd
CY2024Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
-636000 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
200000 usd
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
262184000 usd
CY2023Q4 us-gaap Minority Interest
MinorityInterest
71741000 usd

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0001437749-24-034923.txt Edgar Link pending
0001437749-24-034923-xbrl.zip Edgar Link pending
beep-20240930.xsd Edgar Link pending
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