2022 Q4 Form 10-Q Financial Statement

#000143774922027257 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $7.234M $8.119M $4.330M
YoY Change 53.35% 87.51% 8.44%
Cost Of Revenue $5.234M $5.699M $3.595M
YoY Change 28.38% 58.51% 1.06%
Gross Profit $2.000M $2.420M $734.2K
YoY Change 212.3% 229.58% 68.48%
Gross Profit Margin 27.65% 29.8% 16.96%
Selling, General & Admin $1.713M $1.780M $1.518M
YoY Change 0.18% 17.2% -12.64%
% of Gross Profit 85.63% 73.54% 206.82%
Research & Development $508.6K $518.0K $138.1K
YoY Change 345.43% 275.19% 53.02%
% of Gross Profit 25.43% 21.41% 18.8%
Depreciation & Amortization $329.1K $135.6K $155.9K
YoY Change 109.34% -13.02% -56.7%
% of Gross Profit 16.46% 5.6% 21.23%
Operating Expenses $2.221M $2.298M $1.657M
YoY Change 21.8% 38.7% -9.4%
Operating Profit -$221.2K $122.0K -$922.0K
YoY Change -81.31% -113.23% -33.81%
Interest Expense $240.5K $159.00 $35.97K
YoY Change -2900.0% -99.56% -65.42%
% of Operating Profit 0.13%
Other Income/Expense, Net $1.533M $5.437K $63.14K
YoY Change -91.39% -63.86%
Pretax Income $1.552M $64.00K $6.001M
YoY Change -230.25% -98.93% -564.47%
Income Tax $3.110K $65.00 $27.33K
% Of Pretax Income 0.2% 0.1% 0.46%
Net Earnings $1.549M $63.54K $5.973M
YoY Change -229.99% -98.94% -562.47%
Net Earnings / Revenue 21.42% 0.78% 137.95%
Basic Earnings Per Share $0.01 $0.89
Diluted Earnings Per Share $0.23 $0.01 $0.89
COMMON SHARES
Basic Shares Outstanding 6.761M 6.729M 6.686M
Diluted Shares Outstanding 6.741M 6.708M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.37M $11.88M $17.45M
YoY Change -13.73% -31.93% 113.02%
Cash & Equivalents $14.40M $11.90M $17.40M
Short-Term Investments
Other Short-Term Assets $797.0K $560.0K $207.8K
YoY Change 61.41% 169.45% -50.24%
Inventory $2.538M $2.134M $1.466M
Prepaid Expenses
Receivables $3.788M $2.851M $1.892M
Other Receivables $0.00 $0.00 $715.6K
Total Short-Term Assets $23.66M $20.57M $23.36M
YoY Change 2.55% -11.91% 73.91%
LONG-TERM ASSETS
Property, Plant & Equipment $12.60M $12.81M $12.37M
YoY Change 2.73% 3.6% -61.78%
Goodwill
YoY Change
Intangibles $119.0K $205.5K $209.9K
YoY Change -34.92% -2.07% -41.49%
Long-Term Investments
YoY Change
Other Assets $10.00K $9.570K $23.32K
YoY Change 4.49% -58.96% 69.61%
Total Long-Term Assets $14.25M $13.03M $12.60M
YoY Change 14.46% 3.39% -61.5%
TOTAL ASSETS
Total Short-Term Assets $23.66M $20.57M $23.36M
Total Long-Term Assets $14.25M $13.03M $12.60M
Total Assets $37.91M $33.60M $35.96M
YoY Change 6.72% -6.55% -22.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.454M $1.524M $854.2K
YoY Change 25.2% 78.41% 93.95%
Accrued Expenses $2.591M $2.446M $1.477M
YoY Change 47.3% 65.61% -1.89%
Deferred Revenue $4.042M $1.478M $1.504M
YoY Change 144.91% -1.76% 1654.67%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $77.00K $76.38K $1.841M
YoY Change -95.64% -95.85% 170.66%
Total Short-Term Liabilities $8.164M $5.524M $5.676M
YoY Change 28.85% -2.68% 62.61%
LONG-TERM LIABILITIES
Long-Term Debt $349.0K $355.6K $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $349.0K $355.6K $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.164M $5.524M $5.676M
Total Long-Term Liabilities $349.0K $355.6K $0.00
Total Liabilities $8.513M $5.880M $5.676M
YoY Change 34.35% 3.59% -66.17%
SHAREHOLDERS EQUITY
Retained Earnings $1.620M $70.38K $3.035M
YoY Change -12.13% -97.68% 26.24%
Common Stock $27.78M $27.65M $27.25M
YoY Change 1.59% 1.49% 0.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $29.40M $27.72M $30.28M
YoY Change
Total Liabilities & Shareholders Equity $37.91M $33.60M $35.96M
YoY Change 6.72% -6.55% -22.11%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $1.549M $63.54K $5.973M
YoY Change -229.99% -98.94% -562.47%
Depreciation, Depletion And Amortization $329.1K $135.6K $155.9K
YoY Change 109.34% -13.02% -56.7%
Cash From Operating Activities $2.523M -$100.0K -$1.724M
YoY Change -461.8% -94.2% 153.58%
INVESTING ACTIVITIES
Capital Expenditures $27.13K -$183.1K -$94.45K
YoY Change -219.62% 93.85% -72.22%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $23.08M
YoY Change -100.0%
Cash From Investing Activities -$27.13K -$183.1K $22.98M
YoY Change 19.62% -100.8% -6859.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.490K 0.000 -9.198M
YoY Change -91.35% -100.0% 5310.68%
NET CHANGE
Cash From Operating Activities 2.523M -100.0K -1.724M
Cash From Investing Activities -27.13K -183.1K 22.98M
Cash From Financing Activities -6.490K 0.000 -9.198M
Net Change In Cash 2.489M -283.1K 12.06M
YoY Change -413.12% -102.35% -1113.32%
FREE CASH FLOW
Cash From Operating Activities $2.523M -$100.0K -$1.724M
Capital Expenditures $27.13K -$183.1K -$94.45K
Free Cash Flow $2.496M $83.04K -$1.630M
YoY Change -469.95% -105.09% 379.39%

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ContractWithCustomerAssetNet
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CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1477894 usd
CY2022Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
1804675 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1030955 usd
CY2022Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
329092 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
194060 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
2133767 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
1225015 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
59000 usd
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
8406
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6740692
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
36000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
59000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
118548 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
307379 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
105491 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
118548 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
217942 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.17
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
290500
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6730263
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6683407
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3928
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
307379 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
105491 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
217942 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
118548 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
105491 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
307379 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
217942 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
178500
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.17
CY2022Q3 us-gaap Share Price
SharePrice
5.04
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
5.04
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.68 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0296 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
678000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
290500
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6736764
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6685599
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6730263
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6683407
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3928
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
22284
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6707883
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6730263
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6691813
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
652109
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
716216
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
618636
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
730094
CY2020Q1 us-gaap Income Tax Receivable
IncomeTaxReceivable
1500000 usd
CY2021Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
7000000 usd
CY2022Q3 us-gaap Assets
Assets
33602000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
8119000 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
122000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
64000 usd
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6707883
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
652109
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
716216
CY2020Q1 us-gaap Income Tax Receivable
IncomeTaxReceivable
1500000 usd
CY2021Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
7000000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
64000 usd
CY2021Q3 us-gaap Assets
Assets
35958000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4330000 usd
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-922000 usd
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6001000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
18579000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-1602000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
11730000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-3624000 usd
CY2021Q3 us-gaap Assets
Assets
35958000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4330000 usd
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-922000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
18579000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-1602000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
11730000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-3624000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5967000 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
6894109 usd

Files In Submission

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0001437749-22-027257.txt Edgar Link pending
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cvv-20220930.xsd Edgar Link pending
cvv20220930_10q.htm Edgar Link pending
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cvv20220930_10q_htm.xml Edgar Link completed