2024 Q2 Form 10-Q Financial Statement

#000175392624000998 Filed on May 17, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $2.304M $3.622M $4.154M
YoY Change -57.98% -13.31% 3.31%
Cost Of Revenue $2.324M $2.471M $2.576M
YoY Change -36.07% -13.69% -6.57%
Gross Profit -$20.00K $1.151M $1.578M
YoY Change -101.08% -12.47% 24.84%
Gross Profit Margin -0.87% 31.78% 37.99%
Selling, General & Admin $2.036M $2.335M $2.451M
YoY Change -12.62% -5.12% -14.6%
% of Gross Profit 202.87% 155.32%
Research & Development $868.0K $894.0K $866.0K
YoY Change -0.57% -14.29% -11.99%
% of Gross Profit 77.67% 54.88%
Depreciation & Amortization $106.0K $167.0K $231.0K
YoY Change -53.51% -24.43% -60.17%
% of Gross Profit 14.51% 14.64%
Operating Expenses $2.904M $3.229M $3.317M
YoY Change -9.33% -7.85% -13.93%
Operating Profit -$2.924M -$2.078M -$1.739M
YoY Change 115.79% -5.07% -32.86%
Interest Expense $0.00 $0.00 -$68.00K
YoY Change -100.0% -100.0% -49.63%
% of Operating Profit
Other Income/Expense, Net $119.0K $178.0K $1.037M
YoY Change -72.77% -89.32% -96.91%
Pretax Income -$2.805M -$1.900M $3.030M
YoY Change 178.0% 133.13% -90.19%
Income Tax $15.00K -$2.000K $388.0K
% Of Pretax Income 12.81%
Net Earnings -$2.820M -$1.898M $2.642M
YoY Change 176.74% 128.13% -89.0%
Net Earnings / Revenue -122.4% -52.4% 63.6%
Basic Earnings Per Share -$0.12 -$0.08
Diluted Earnings Per Share -$0.12 -$0.08 $0.11
COMMON SHARES
Basic Shares Outstanding 23.97M shares 23.97M shares 23.96M shares
Diluted Shares Outstanding 23.97M shares 23.97M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.923M $22.63M $21.32M
YoY Change -77.1% -61.65% 2066.16%
Cash & Equivalents $2.450M $18.54M $17.84M
Short-Term Investments $2.473M $4.087M $3.480M
Other Short-Term Assets $3.855M $4.001M $4.062M
YoY Change -9.78% 10.07% -47.98%
Inventory $14.60M $11.43M $10.63M
Prepaid Expenses
Receivables $2.574M $2.794M $3.279M
Other Receivables $27.00K $27.00K $4.036M
Total Short-Term Assets $25.36M $39.61M $43.32M
YoY Change -42.27% -46.89% -44.05%
LONG-TERM ASSETS
Property, Plant & Equipment $552.0K $542.0K $1.520M
YoY Change -69.08% 52.25% 296.87%
Goodwill
YoY Change
Intangibles $1.582M $1.615M $1.689M
YoY Change -16.87% -19.05% -18.45%
Long-Term Investments $621.0K $1.278M $916.0K
YoY Change 5.97%
Other Assets $108.0K $108.0K $3.252M
YoY Change -96.89% -3.57% 2727.83%
Total Long-Term Assets $5.439M $8.602M $7.377M
YoY Change -29.81% 30.2% 16.67%
TOTAL ASSETS
Total Short-Term Assets $25.36M $39.61M $43.32M
Total Long-Term Assets $5.439M $8.602M $7.377M
Total Assets $30.80M $48.21M $50.69M
YoY Change -40.41% -40.62% -39.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.901M $1.733M $1.945M
YoY Change -21.93% -4.78% 51.48%
Accrued Expenses $1.726M $1.959M $2.290M
YoY Change -33.28% -20.17% -24.7%
Deferred Revenue $23.00K $26.00K $30.00K
YoY Change -55.77% -63.38% -52.38%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $3.650M $18.21M $4.265M
YoY Change -43.45% 208.66% -47.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.079M $1.079M $1.744M
YoY Change -41.86% 7.04% 73.02%
Total Long-Term Liabilities $1.079M $1.079M $1.744M
YoY Change -41.86% 7.04% 73.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.650M $18.21M $4.265M
Total Long-Term Liabilities $1.079M $1.079M $1.744M
Total Liabilities $5.244M $19.87M $6.009M
YoY Change -36.9% 152.83% -37.54%
SHAREHOLDERS EQUITY
Retained Earnings -$5.794M -$2.974M -$1.076M
YoY Change 144.78% 120.62% 108.53%
Common Stock $31.64M $31.61M $46.07M
YoY Change -31.22% -57.83% -38.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $25.55M $28.34M $44.69M
YoY Change
Total Liabilities & Shareholders Equity $30.80M $48.21M $50.69M
YoY Change -40.41% -40.62% -39.47%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$2.820M -$1.898M $2.642M
YoY Change 176.74% 128.13% -89.0%
Depreciation, Depletion And Amortization $106.0K $167.0K $231.0K
YoY Change -53.51% -24.43% -60.17%
Cash From Operating Activities -$3.155M $433.0K $3.488M
YoY Change -57.37% -99.28% -264.61%
INVESTING ACTIVITIES
Capital Expenditures $83.00K $69.00K $30.00K
YoY Change -75.3% 155.56% -61.54%
Acquisitions
YoY Change
Other Investing Activities $1.636M $378.0K $1.927M
YoY Change -123.41% -2172.04%
Cash From Investing Activities $1.553M $273.0K $1.897M
YoY Change -121.2% -495.65% -1209.36%
FINANCING ACTIVITIES
Cash Dividend Paid $14.49M
YoY Change -50.0%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -14.49M $7.000K -1.242M
YoY Change -50.38% -100.31% -168.24%
NET CHANGE
Cash From Operating Activities -3.155M $433.0K 3.488M
Cash From Investing Activities 1.553M $273.0K 1.897M
Cash From Financing Activities -14.49M $7.000K -1.242M
Net Change In Cash -16.09M $709.0K 4.143M
YoY Change -63.37% -98.78% -981.49%
FREE CASH FLOW
Cash From Operating Activities -$3.155M $433.0K $3.488M
Capital Expenditures $83.00K $69.00K $30.00K
Free Cash Flow -$3.238M $364.0K $3.458M
YoY Change -58.15% -99.4% -257.4%

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110000 usd
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CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
991000 usd
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1615000 usd
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InventoryRawMaterialsNetOfReserves
2086000 usd
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9669000 usd
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8539000 usd
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11434000 usd
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2259000 usd
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1789000 usd
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1902000 usd
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1354000 usd
CY2024Q1 us-gaap Inventory Noncurrent
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4161000 usd
CY2023Q4 us-gaap Inventory Noncurrent
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3143000 usd
CY2023Q1 us-gaap Inventory Write Down
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23000 usd
CY2024Q1 us-gaap Operating Lease Expense
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109000 usd
CY2023Q1 us-gaap Operating Lease Expense
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149000 usd
CY2024Q1 us-gaap Operating Lease Payments
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115000 usd
CY2023Q1 us-gaap Operating Lease Payments
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151000 usd
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0 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
758000 usd
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
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898000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
990000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
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375000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
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383000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
574000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
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665000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
949000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1048000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P3Y3M
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.0652 pure
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
324000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
272000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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211000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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216000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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36000 usd
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
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1059000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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110000 usd
CY2024Q1 us-gaap Operating Lease Liability
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949000 usd
CY2024Q1 us-gaap Stockholders Equity
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28344000 usd
CY2023Q1 us-gaap Stockholders Equity
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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160000 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0391 pure
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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0.9147 pure
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
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P2Y2M26D
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
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CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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CY2024Q1 us-gaap Unrecognized Tax Benefits
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CY2023Q4 us-gaap Marketable Securities
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CY2024Q1 us-gaap Dividends
Dividends
14496000 usd

Files In Submission

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clro-20240331_cal.xml Edgar Link unprocessable
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0001753926-24-000998-index.html Edgar Link pending
0001753926-24-000998.txt Edgar Link pending
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clro-20240331.htm Edgar Link pending
clro-20240331.xsd Edgar Link pending
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clro-20240331_def.xml Edgar Link unprocessable
clro-20240331_lab.xml Edgar Link unprocessable
clro-20240331_pre.xml Edgar Link unprocessable
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R5.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable