2020 Q3 Form 10-Q Financial Statement

#000162828020013559 Filed on September 14, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3
Revenue $9.547M $6.737M
YoY Change 41.71% 8.22%
Cost Of Revenue $5.336M $3.752M
YoY Change 42.22% 21.7%
Gross Profit $4.211M $2.985M
YoY Change 41.07% -5.0%
Gross Profit Margin 44.11% 44.31%
Selling, General & Admin $2.590M $2.296M
YoY Change 12.8% 45.96%
% of Gross Profit 61.51% 76.92%
Research & Development $1.597M $1.303M
YoY Change 22.56% 19.76%
% of Gross Profit 37.92% 43.65%
Depreciation & Amortization $224.0K $145.0K
YoY Change 54.48% 30.63%
% of Gross Profit 5.32% 4.86%
Operating Expenses $4.187M $7.351M
YoY Change -43.04% 27.98%
Operating Profit $24.00K -$614.0K
YoY Change -103.91% -227.65%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $64.00K -$12.00K
YoY Change -633.33% -1300.0%
Pretax Income $88.00K -$626.0K
YoY Change -114.06% -229.88%
Income Tax $13.00K $15.00K
% Of Pretax Income 14.77%
Net Earnings $75.00K -$641.0K
YoY Change -111.7% -232.71%
Net Earnings / Revenue 0.79% -9.51%
Basic Earnings Per Share $0.01 -$0.06
Diluted Earnings Per Share $0.01 -$0.06
COMMON SHARES
Basic Shares Outstanding 12.73M shares 11.62M shares
Diluted Shares Outstanding 14.23M shares 11.62M shares

Balance Sheet

Concept 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.940M $2.200M
YoY Change 215.45% 115.69%
Cash & Equivalents $6.943M $2.202M
Short-Term Investments
Other Short-Term Assets $360.0K $260.0K
YoY Change 38.46% 4.0%
Inventory
Prepaid Expenses
Receivables $5.039M $3.891M
Other Receivables $0.00 $0.00
Total Short-Term Assets $12.34M $6.349M
YoY Change 94.39% 26.2%
LONG-TERM ASSETS
Property, Plant & Equipment $4.434M $3.113M
YoY Change 42.43% 28.37%
Goodwill $335.0K $669.0K
YoY Change -49.93% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $36.00K $128.0K
YoY Change -71.88% 10.34%
Total Long-Term Assets $10.48M $7.013M
YoY Change 49.41% 108.72%
TOTAL ASSETS
Total Short-Term Assets $12.34M $6.349M
Total Long-Term Assets $10.48M $7.013M
Total Assets $22.82M $13.36M
YoY Change 70.78% 59.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.675M $2.725M
YoY Change -1.83% 28.6%
Accrued Expenses $2.154M $770.0K
YoY Change 179.74% 110.38%
Deferred Revenue $5.669M $3.969M
YoY Change 42.83% -6.9%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $70.00K $10.00K
YoY Change 600.0% -92.86%
Total Short-Term Liabilities $11.09M $7.930M
YoY Change 39.79% 15.18%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $178.0K $151.0K
YoY Change 17.88% 0.0%
Total Long-Term Liabilities $178.0K $151.0K
YoY Change 17.88% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.09M $7.930M
Total Long-Term Liabilities $178.0K $151.0K
Total Liabilities $17.31M $11.63M
YoY Change 48.76% 49.36%
SHAREHOLDERS EQUITY
Retained Earnings -$72.60M -$71.30M
YoY Change 1.82% 1.36%
Common Stock $78.11M $73.07M
YoY Change 6.9% 1.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.513M $1.728M
YoY Change
Total Liabilities & Shareholders Equity $22.82M $13.36M
YoY Change 70.78% 59.24%

Cashflow Statement

Concept 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $75.00K -$641.0K
YoY Change -111.7% -232.71%
Depreciation, Depletion And Amortization $224.0K $145.0K
YoY Change 54.48% 30.63%
Cash From Operating Activities -$715.0K -$279.0K
YoY Change 156.27% -183.04%
INVESTING ACTIVITIES
Capital Expenditures $718.0K $749.0K
YoY Change -4.14% 254.98%
Acquisitions
YoY Change
Other Investing Activities $90.00K
YoY Change
Cash From Investing Activities -$626.0K -$749.0K
YoY Change -16.42% 254.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$58.00K -$7.000K
YoY Change 728.57% -120.0%
NET CHANGE
Cash From Operating Activities -$715.0K -$279.0K
Cash From Investing Activities -$626.0K -$749.0K
Cash From Financing Activities -$58.00K -$7.000K
Net Change In Cash -$1.399M -$1.035M
YoY Change 35.17% -746.88%
FREE CASH FLOW
Cash From Operating Activities -$715.0K -$279.0K
Capital Expenditures $718.0K $749.0K
Free Cash Flow -$1.433M -$1.028M
YoY Change 39.4% -922.4%

Facts In Submission

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OperatingLeaseRightOfUseAsset
3103000 USD
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2798000 USD
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5673000 USD
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y5M1D
CY2020Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
128000 USD
CY2020Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
36000 USD
CY2020Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
178000 USD
CY2020Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
178000 USD
CY2019Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-12000 USD
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
64000 USD
CY2019Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
749000 USD
CY2020Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
718000 USD
CY2020Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
385000 USD
CY2020Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
360000 USD
CY2020Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6765000 USD
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7482000 USD
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3993000 USD
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4434000 USD
CY2019Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1303000 USD
CY2020Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1597000 USD
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-72673000 USD
CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-72600000 USD
CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-72598000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6737000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9547000 USD
CY2020Q3 us-gaap Revenue Performance Obligation Description Of Timing
RevenuePerformanceObligationDescriptionOfTiming
The majority of the Company's revenue arrangements are service contracts that are complete within a year or less. There are a few contracts that range in duration between 1 and 3 years.
CY2019Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3205000 USD
CY2020Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3872000 USD
CY2019Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
870000 USD
CY2020Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1208000 USD
CY2019Q3 us-gaap Share Based Compensation
ShareBasedCompensation
131000 USD
CY2020Q3 us-gaap Share Based Compensation
ShareBasedCompensation
120000 USD
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.0000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7264
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0039
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1957682 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.85
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
0 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
500 shares
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
7500 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.85
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
10663000 USD
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
USD
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2271658 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2276263 shares
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.23
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.24
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
USD
CY2020Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.51
CY2020Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
8.94
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P0Y
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y0M0D
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
11810000 USD
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y2M14D
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y0M0D
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y9M21D
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y9M21D
CY2020Q3 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
1160 shares
CY2020Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1160 shares
CY2020Q3 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
0 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
2238000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
1728000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
5318000 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
5513000 USD
CY2020Q3 us-gaap Type Of Cost Good Or Service Extensible List
TypeOfCostGoodOrServiceExtensibleList
us-gaap:ServiceMember
CY2020Q3 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
us-gaap:ServiceMember
CY2020Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
2404000 USD
CY2020Q3 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
2689000 USD
CY2020Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
178000 USD
CY2020Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
178000 USD
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11619538 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14231641 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11619538 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12727275 shares

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