2024 Q1 Form 10-K Financial Statement

#000149315224011730 Filed on March 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $4.922M $4.111M $24.11M
YoY Change -43.39% -43.17% -6.6%
Cost Of Revenue $4.063M $4.459M $19.04M
YoY Change -35.11% -14.8% -0.77%
Gross Profit $859.0K -$348.0K $5.071M
YoY Change -64.71% -117.4% -23.48%
Gross Profit Margin 17.45% -8.47% 21.03%
Selling, General & Admin $1.736M $1.392M $7.083M
YoY Change -14.02% -18.72% 8.24%
% of Gross Profit 202.1% 139.68%
Research & Development $746.0K $731.0K $2.596M
YoY Change 23.92% 43.73% 36.2%
% of Gross Profit 86.85% 51.19%
Depreciation & Amortization $153.0K $242.0K $700.0K
YoY Change -7.83% -26.47% -12.5%
% of Gross Profit 17.81% 13.8%
Operating Expenses $2.482M $2.123M $9.952M
YoY Change -5.3% -4.42% 17.78%
Operating Profit -$1.623M -$2.471M -$4.881M
YoY Change 767.91% 1017.29% 167.75%
Interest Expense $6.000K $172.0K $23.00K
YoY Change 0.0% -28.49% 187.5%
% of Operating Profit
Other Income/Expense, Net $151.0K $0.00 $687.0K
YoY Change 1787.5% -100.0% 4480.0%
Pretax Income -$1.472M -$2.299M -$4.194M
YoY Change 3773.68% -248.1% 1806.36%
Income Tax -$25.00K -$14.00K
% Of Pretax Income
Net Earnings -$1.472M -$2.274M -$4.180M
YoY Change 3580.0% -246.79% 1766.07%
Net Earnings / Revenue -29.91% -55.32% -17.34%
Basic Earnings Per Share -$0.22 -$0.62
Diluted Earnings Per Share -$0.22 -$0.33 -$0.62
COMMON SHARES
Basic Shares Outstanding 6.825M shares 6.825M shares 6.788K shares
Diluted Shares Outstanding 6.809M shares 6.788K shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.89M $14.03M $14.03M
YoY Change 8.11% -2.37% -2.37%
Cash & Equivalents $11.90M $14.00M $14.03M
Short-Term Investments
Other Short-Term Assets $858.0K $852.0K $852.0K
YoY Change 26.55% 6.9% 6.9%
Inventory $4.925M $4.454M $4.454M
Prepaid Expenses
Receivables $2.971M $1.906M $3.510M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $23.34M $22.84M $22.84M
YoY Change 13.54% -3.45% -3.45%
LONG-TERM ASSETS
Property, Plant & Equipment $12.09M $12.17M $12.17M
YoY Change -3.87% -3.41% -3.41%
Goodwill
YoY Change
Intangibles $9.000K
YoY Change -92.44%
Long-Term Investments
YoY Change
Other Assets $18.00K $9.000K $9.000K
YoY Change 80.0% -10.0% -99.42%
Total Long-Term Assets $12.11M $12.18M $12.18M
YoY Change -14.92% -14.52% -14.52%
TOTAL ASSETS
Total Short-Term Assets $23.34M $22.84M $22.84M
Total Long-Term Assets $12.11M $12.18M $12.18M
Total Assets $35.44M $35.03M $35.03M
YoY Change 1.89% -7.62% -7.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.798M $1.203M $1.203M
YoY Change 25.82% -17.26% -17.26%
Accrued Expenses $1.690M $1.765M $1.765M
YoY Change -20.28% -31.88% -31.88%
Deferred Revenue $6.030M $4.908M
YoY Change 378.19% 21.43%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $83.00K $81.00K $81.00K
YoY Change 6.41% 5.19% 5.19%
Total Short-Term Liabilities $10.20M $8.554M $8.554M
YoY Change 108.63% 4.78% 4.78%
LONG-TERM LIABILITIES
Long-Term Debt $247.0K $268.0K $268.0K
YoY Change -24.92% -23.21% -23.21%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $247.0K $268.0K $268.0K
YoY Change -24.92% -23.21% -23.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.20M $8.554M $8.554M
Total Long-Term Liabilities $247.0K $268.0K $268.0K
Total Liabilities $10.45M $8.822M $8.822M
YoY Change 100.21% 3.63% 3.63%
SHAREHOLDERS EQUITY
Retained Earnings -$4.032M -$2.560M
YoY Change -355.19% -258.02%
Common Stock $29.03M $28.76M
YoY Change 3.73% 3.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $25.00M $26.20M $26.20M
YoY Change
Total Liabilities & Shareholders Equity $35.44M $35.03M $35.03M
YoY Change 1.89% -7.62% -7.62%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$1.472M -$2.274M -$4.180M
YoY Change 3580.0% -246.79% 1766.07%
Depreciation, Depletion And Amortization $153.0K $242.0K $700.0K
YoY Change -7.83% -26.47% -12.5%
Cash From Operating Activities -$2.043M -$126.0K -$206.0K
YoY Change -37.56% -104.99% -206.19%
INVESTING ACTIVITIES
Capital Expenditures $70.00K $110.0K $418.0K
YoY Change -52.05% 305.46% -37.14%
Acquisitions
YoY Change
Other Investing Activities -$3.000K $597.0K
YoY Change 5870.0%
Cash From Investing Activities -$70.00K -$113.0K -$133.0K
YoY Change -52.05% 316.51% -81.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $19.00K $77.00K
YoY Change 0.0% -95.65%
Cash From Financing Activities -$19.00K -21.00K -$1.000K
YoY Change -135.19% 223.57% -99.94%
NET CHANGE
Cash From Operating Activities -$2.043M -126.0K -$206.0K
Cash From Investing Activities -$70.00K -113.0K -$133.0K
Cash From Financing Activities -$19.00K -21.00K -$1.000K
Net Change In Cash -$2.132M -260.0K -$340.0K
YoY Change -36.62% -110.44% -85.13%
FREE CASH FLOW
Cash From Operating Activities -$2.043M -$126.0K -$206.0K
Capital Expenditures $70.00K $110.0K $418.0K
Free Cash Flow -$2.113M -$236.0K -$624.0K
YoY Change -38.18% -109.46% 32.48%

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312000 usd
CY2023 CVV Proceeds From Deposits From Purchaser Of Mesoscribe Assets
ProceedsFromDepositsFromPurchaserOfMesoscribeAssets
597000 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
418000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
665000 usd
CY2022 CVV Payments For Capitalized Patent Costs
PaymentsForCapitalizedPatentCosts
53000 usd
CY2022 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
10000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-133000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-708000 usd
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
76000 usd
CY2023 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
77000 usd
CY2022 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1772000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1772000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-340000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2286000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
14365000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
16651000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
14025000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
14365000 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
8000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
24000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
8000 usd
CY2022 us-gaap Loans Assumed1
LoansAssumed1
432000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14000000.0 usd
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_848_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zZzI82UYxsFa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><span style="text-decoration: underline"><span id="xdx_868_zpFOVRJqSdvk">Reclassifications</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In addition, certain reclassifications have been made to the prior period consolidated financial statements to conform to the current period presentation. These reclassifications had no effect on net (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_841_eus-gaap--UseOfEstimates_zVyWiev3tKj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86C_zquej73hHBo1">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s significant estimates are the accounting for certain items such as revenues on long-term contracts recognized on the input method, valuation of inventories at the lower of cost or net realizable value; allowance for credit losses; valuation allowances for deferred tax assets, estimated lives and impairment considerations of long-lived assets and valuation of stock-based compensation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 usd
CY2022 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 usd
CY2022 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
25813000 usd
CY2023 us-gaap Standard Product Warranty Description
StandardProductWarrantyDescription
The Company typically provides standard warranty coverage on its systems for one year from the date of final acceptance or fifteen months from the date of shipment by providing labor and parts necessary to repair the systems during the warranty period
CY2023 us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
tax benefit that is more than 50% likely to be realized upon ultimate settlement
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14000000.0 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14400000 usd
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
12100000 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
11700000 usd
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1500000 usd
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1500000 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_843_eus-gaap--ConcentrationRiskCreditRisk_zgwzpO8pVhQ2" style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86C_zu2pmibBOxs9">Concentration of Credit Risk</span></span></span></p> <p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents, and accounts receivable. The Company places its cash equivalents with financial institutions and invests its excess cash primarily in treasury bills, certificates of deposit or deposit accounts. The Company has established guidelines relative to credit ratings and maturities that seek to maintain stability and liquidity. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company routinely assesses the financial strength of its customers<i>.</i> In accordance with the “expected credit loss” model, the carrying amount of accounts receivable is reduced by a valuation allowance that reflects the best estimate of the amounts the Company does not expect to collect. In addition to reviewing delinquent accounts receivable, the Company consider many factors in estimating our reserve, including types of customers and their credit worthiness, experience and historical data adjusted for current conditions and reasonable supportable forecasts<i>. </i>The Company records an allowance for credit losses based upon a specific review of all significant outstanding invoices. For those invoices not specifically reviewed, provisions are provided based upon the collection history, current economic trends and reasonable supportable forecasts.</span></p> <p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has accounts receivables from certain customers that exceed <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember_zA104u7YpLSk" title="Concentration risk percentage">10</span>%. As of December 31, 2023, the accounts receivable balance includes amounts from three customers that represented <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zPtP2fFbXBq5" title="Concentration risk percentage">37.6</span>%, <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zRZvs7SwCpme" title="Concentration risk percentage">13.0</span>% and <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerThreeMember_zbnpJWf01vvk" title="Concentration risk percentage">12.8</span>% of total accounts receivable, and as of December 31, 2022, two customers that represented <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_z1p2BHOaPDO8" title="Concentration risk percentage">35.7</span>% and <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zzdbXFbbKSXd" title="Concentration risk percentage">30.3</span>% of total accounts receivable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CVD EQUIPMENT CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2023 and 2022</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 2 - Summary of Significant Accounting Policies (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable is presented net of an allowance for credit losses of $<span id="xdx_90C_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_c20231231_zwJ2hxRKgXZd" title="Allowance for credit loss"><span id="xdx_900_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_c20221231_zIbR2HhUcnSg" title="Allowance for credit loss">36,000</span></span> as of both December 31, 2023 and 2022. <span style="background-color: white">The allowance is based on prior experience and management’s evaluation of future economic conditions. Measurement of credit losses requires consideration of historical loss experience, including the need to adjust for changing business conditions, and judgments about the probable effects of relevant observable data, including present economic conditions such as delinquency rates and the financial health of specific customers. Future changes to the estimated allowance for doubtful accounts could be material to our results of operations and financial condition.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
36000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
36000 usd
CY2023 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
24109000 usd
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
16300000 usd
CY2023Q4 CVV Costs Incurred On Uncompleted Contracts
CostsIncurredOnUncompletedContracts
9500000 usd
CY2022Q4 CVV Costs Incurred On Uncompleted Contracts
CostsIncurredOnUncompletedContracts
14390000 usd
CY2023Q4 CVV Estimated Earnings
EstimatedEarnings
5083000 usd
CY2022Q4 CVV Estimated Earnings
EstimatedEarnings
10926000 usd
CY2023Q4 CVV Costs And Estimated Earnings On Uncompleted Contracts
CostsAndEstimatedEarningsOnUncompletedContracts
14583000 usd
CY2022Q4 CVV Costs And Estimated Earnings On Uncompleted Contracts
CostsAndEstimatedEarningsOnUncompletedContracts
25316000 usd
CY2023Q4 CVV Billings To Date
BillingsToDate
17553000 usd
CY2022Q4 CVV Billings To Date
BillingsToDate
26925000 usd
CY2023Q4 CVV Net Cost In Excess Of Billings
NetCostInExcessOfBillings
-2970000 usd
CY2022Q4 CVV Net Cost In Excess Of Billings
NetCostInExcessOfBillings
-1609000 usd
CY2023Q4 CVV Deferred Revenues Related To Contracts
DeferredRevenuesRelatedToContracts
-334000 usd
CY2022Q4 CVV Deferred Revenues Related To Contracts
DeferredRevenuesRelatedToContracts
-263000 usd
CY2023Q4 CVV Contract Liability In Excess Of Contract Assets
ContractLiabilityInExcessOfContractAssets
-3304000 usd
CY2022Q4 CVV Contract Liability In Excess Of Contract Assets
ContractLiabilityInExcessOfContractAssets
-1872000 usd
CY2023Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
1604000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
2170000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4908000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4042000 usd
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3700000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1700000 usd
CY2021Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
2500000 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
2351000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
2165000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1248000 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
373000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
855000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
4454000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
2538000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
22721000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
22572000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10555000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9976000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12166000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12596000 usd
CY2023 us-gaap Depreciation
Depreciation
700000 usd
CY2022 us-gaap Depreciation
Depreciation
800000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
1000 usd
CY2023Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
358000 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
995000 usd
CY2023Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
729000 usd
CY2022Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
905000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
678000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
691000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1765000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2591000 usd
CY2023 us-gaap Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
8000 usd
CY2023Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.06 pure
CY2023Q4 us-gaap Loans Payable
LoansPayable
349000 usd
CY2022Q4 us-gaap Loans Payable
LoansPayable
426000 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
81000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
77000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
268000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
349000 usd
CY2022Q3 CVV Loan To Fund Acquisition Of Machinery Equipment
LoanToFundAcquisitionOfMachineryEquipment
400000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
81000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
87000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
92000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
89000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
349000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6788 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6734 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6788 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6734 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
846875 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
335375 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
673000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
265000 shares
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
846875 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
673000 shares
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-4073000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-596000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-121000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
376000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4194000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-220000 usd
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-16000 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1000 usd
CY2023 us-gaap Current State And Local Tax Expense Benefit
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10000 usd
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CY2023Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
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CY2023Q4 CVV Deferred Tax Assets Capitalized Research And Development
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759000 usd
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67000 usd
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67000 usd
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CY2023 us-gaap Income Tax Examination Description
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1500000 usd
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900000 usd
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5.70
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254000 shares
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14.02
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44500 shares
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0.50 pure
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0.06 pure
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243000 usd
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90000 usd
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0 usd
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0 usd
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3 segment
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24109000 usd
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792000 usd
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418000 usd
CY2022Q4 us-gaap Assets
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37912000 usd
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25813000 usd
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-220000 usd
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867000 usd
CY2022Q4 CVV Loan To Fund Acquisition Of Machinery Equipment
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400000 usd

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0001493152-24-011730.txt Edgar Link pending
0001493152-24-011730-xbrl.zip Edgar Link pending
cvv-20231231.xsd Edgar Link pending
ex-97.htm Edgar Link pending
ex21-1.htm Edgar Link pending
cvv-20231231_cal.xml Edgar Link unprocessable
ex23-1.htm Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
form10-k.htm Edgar Link pending
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form10-k_htm.xml Edgar Link completed
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