2018 Q3 Form 10-Q Financial Statement

#000162828018011874 Filed on September 14, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $6.225M $5.033M
YoY Change 23.68% 37.14%
Cost Of Revenue $3.083M $2.642M
YoY Change 16.69% 4.84%
Gross Profit $3.142M $2.391M
YoY Change 31.41% 107.91%
Gross Profit Margin 50.47% 47.51%
Selling, General & Admin $1.573M $1.892M
YoY Change -16.86% -23.06%
% of Gross Profit 50.06% 79.13%
Research & Development $1.088M $1.118M
YoY Change -2.68% -7.68%
% of Gross Profit 34.63% 46.76%
Depreciation & Amortization $111.0K $36.00K
YoY Change 208.33% -7.69%
% of Gross Profit 3.53% 1.51%
Operating Expenses $5.744M $5.652M
YoY Change 1.63% -8.74%
Operating Profit $481.0K -$619.0K
YoY Change -177.71% -75.47%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.000K -$51.00K
YoY Change -101.96% 466.67%
Pretax Income $482.0K -$670.0K
YoY Change -171.94% -73.54%
Income Tax $0.00 $4.000K
% Of Pretax Income 0.0%
Net Earnings $483.0K -$674.0K
YoY Change -171.66% -73.53%
Net Earnings / Revenue 7.76% -13.39%
Basic Earnings Per Share $0.04 -$0.06
Diluted Earnings Per Share $0.04 -$0.06
COMMON SHARES
Basic Shares Outstanding 11.01M shares 10.98M shares
Diluted Shares Outstanding 12.62M shares 10.98M shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.020M $430.0K
YoY Change 137.21% -90.36%
Cash & Equivalents $1.000M $400.0K
Short-Term Investments
Other Short-Term Assets $250.0K $360.0K
YoY Change -30.56% 2.86%
Inventory
Prepaid Expenses
Receivables $3.769M $2.667M
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.031M $3.457M
YoY Change 45.53% -46.32%
LONG-TERM ASSETS
Property, Plant & Equipment $2.425M $2.084M
YoY Change 16.36% 253.22%
Goodwill $669.0K $669.0K
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $116.0K $107.0K
YoY Change 8.41% -28.67%
Total Long-Term Assets $3.360M $3.010M
YoY Change 11.63% 113.63%
TOTAL ASSETS
Total Short-Term Assets $5.031M $3.457M
Total Long-Term Assets $3.360M $3.010M
Total Assets $8.391M $6.467M
YoY Change 29.75% -17.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.119M $1.732M
YoY Change 22.34% 14.78%
Accrued Expenses $366.0K $551.0K
YoY Change -33.58% 150.45%
Deferred Revenue $4.263M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $140.0K $30.00K
YoY Change 366.67%
Total Short-Term Liabilities $6.885M $6.020M
YoY Change 14.37% 36.01%
LONG-TERM LIABILITIES
Long-Term Debt $150.0K $30.00K
YoY Change 400.0%
Other Long-Term Liabilities $151.0K $157.0K
YoY Change -3.82% -36.44%
Total Long-Term Liabilities $151.0K $157.0K
YoY Change -3.82% -36.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.885M $6.020M
Total Long-Term Liabilities $151.0K $157.0K
Total Liabilities $7.789M $6.177M
YoY Change 26.1% 32.18%
SHAREHOLDERS EQUITY
Retained Earnings -$70.34M -$70.02M
YoY Change 0.46% 7.71%
Common Stock $72.20M $71.57M
YoY Change 0.88% 3.06%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.252M $1.252M
YoY Change 0.0% 0.0%
Treasury Stock Shares 269.7K shares 269.7K shares
Shareholders Equity $603.0K $290.0K
YoY Change
Total Liabilities & Shareholders Equity $8.391M $6.467M
YoY Change 29.75% -17.61%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $483.0K -$674.0K
YoY Change -171.66% -73.53%
Depreciation, Depletion And Amortization $111.0K $36.00K
YoY Change 208.33% -7.69%
Cash From Operating Activities $336.0K -$1.948M
YoY Change -117.25% -20.13%
INVESTING ACTIVITIES
Capital Expenditures $211.0K $910.0K
YoY Change -76.81% 5252.94%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$211.0K -$910.0K
YoY Change -76.81% 5252.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $35.00K -$7.000K
YoY Change -600.0% -100.16%
NET CHANGE
Cash From Operating Activities $336.0K -$1.948M
Cash From Investing Activities -$211.0K -$910.0K
Cash From Financing Activities $35.00K -$7.000K
Net Change In Cash $160.0K -$2.865M
YoY Change -105.58% -252.56%
FREE CASH FLOW
Cash From Operating Activities $336.0K -$1.948M
Capital Expenditures $211.0K $910.0K
Free Cash Flow $125.0K -$2.858M
YoY Change -104.37% 16.37%

Facts In Submission

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RepaymentsOfLongTermCapitalLeaseObligations
7000 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1118000 USD
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1088000 USD
CY2018Q2 us-gaap Restricted Cash
RestrictedCash
150000 USD
CY2018Q3 us-gaap Restricted Cash
RestrictedCash
150000 USD
CY2018Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
150000 USD
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
150000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-70826000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-70300000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-70344000 USD
CY2017Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5033000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6225000 USD
CY2017Q3 us-gaap Revenues
Revenues
5033000 USD
CY2018Q3 us-gaap Revenues
Revenues
6225000 USD
CY2017Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
683000 USD
CY2018Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
518000 USD
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
564000 USD
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
75000 USD
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.844
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.871
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0198
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0282
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2480557 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.63
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
0 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1250 shares
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.79
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.18
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5265000 USD
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
14401000 USD
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2705845 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2687095 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.85
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.85
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
14401000 USD
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2687095 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
2.69
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
56529 USD
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
7500 USD
CY2018Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.10
CY2018Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.00
CY2018Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.00
CY2018Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.17
CY2018Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2018Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
13473000 USD
CY2018Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y6M
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y10M25D
CY2018Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P5Y9M18D
CY2018Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
20000 shares
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
3000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
602000 USD
CY2018Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
269685 shares
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
269685 shares
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
1252000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1252000 USD
CY2018Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
2103000 USD
CY2018Q3 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
2629000 USD
CY2018Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
151000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
151000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10982159 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12618021 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10982159 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11012281 shares

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