2024 Q3 Form 10-Q Financial Statement

#000165495424010039 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $15.63M $14.69M $12.67M
YoY Change 12.64% 15.9% 43.23%
Cost Of Revenue $4.417M $3.942M $3.976M
YoY Change 7.73% -0.86% 119.67%
Gross Profit $11.21M $10.74M $8.694M
YoY Change 14.39% 23.57% 23.56%
Gross Profit Margin 71.73% 73.16% 68.62%
Selling, General & Admin $7.916M $7.390M $6.780M
YoY Change 16.22% 9.0% 32.19%
% of Gross Profit 70.62% 68.79% 77.98%
Research & Development $1.473M $1.328M $1.138M
YoY Change 15.44% 16.7% -5.48%
% of Gross Profit 13.14% 12.36% 13.09%
Depreciation & Amortization $74.00K $78.00K $108.0K
YoY Change -21.28% -27.78% -82.58%
% of Gross Profit 0.66% 0.73% 1.24%
Operating Expenses $15.49M $14.11M $13.19M
YoY Change 14.67% 6.96% 67.18%
Operating Profit $135.0K $580.0K -$517.0K
YoY Change -62.91% -212.19% -39.32%
Interest Expense $7.000K $11.00K $33.00K
YoY Change -80.56% -66.67% -273.68%
% of Operating Profit 5.19% 1.9%
Other Income/Expense, Net $59.00K $35.00K -$4.000K
YoY Change -95.7% -975.0% -96.26%
Pretax Income $194.0K $615.0K -$521.0K
YoY Change -88.83% -218.04% -46.73%
Income Tax $46.00K $27.00K $24.00K
% Of Pretax Income 23.71% 4.39%
Net Earnings $148.0K $588.0K -$545.0K
YoY Change -91.31% -207.89% -39.17%
Net Earnings / Revenue 0.95% 4.0% -4.3%
Basic Earnings Per Share $0.01 $0.02 -$0.02
Diluted Earnings Per Share $0.00 $0.02 -$0.02
COMMON SHARES
Basic Shares Outstanding 26.71M shares 26.63M shares 25.97M shares
Diluted Shares Outstanding 29.86M shares 29.51M shares 25.97M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.45M $13.61M $4.200M
YoY Change 100.66% 224.07% -13.86%
Cash & Equivalents $15.45M $13.61M $4.200M
Short-Term Investments
Other Short-Term Assets $35.00K $36.00K $483.0K
YoY Change -92.52% -92.55% -69.02%
Inventory $518.0K $554.0K $693.0K
Prepaid Expenses $1.327M $1.042M $1.013M
Receivables $3.753M $3.992M $3.549M
Other Receivables $1.034M $1.016M $735.0K
Total Short-Term Assets $23.86M $21.89M $14.05M
YoY Change 52.8% 55.82% 28.15%
LONG-TERM ASSETS
Property, Plant & Equipment $438.0K $512.0K $851.0K
YoY Change -42.06% -39.84% -74.88%
Goodwill $9.454M $9.454M $9.454M
YoY Change 0.0% 0.0%
Intangibles $21.28M $22.04M $25.14M
YoY Change -12.59% -12.34%
Long-Term Investments
YoY Change
Other Assets $208.0K $145.0K $176.0K
YoY Change 42.47% -17.61% -85.99%
Total Long-Term Assets $38.39M $37.75M $40.03M
YoY Change -3.35% -5.69% -38.33%
TOTAL ASSETS
Total Short-Term Assets $23.86M $21.89M $14.05M
Total Long-Term Assets $38.39M $37.75M $40.03M
Total Assets $62.25M $59.64M $54.08M
YoY Change 12.5% 10.29% -28.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $746.0K $908.0K $715.0K
YoY Change -14.65% 26.99% -39.46%
Accrued Expenses $6.669M $5.916M $4.750M
YoY Change 31.98% 24.55% 14.07%
Deferred Revenue $2.668M $2.727M $3.180M
YoY Change -10.2% -14.25%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $512.0K $524.0K $600.0K
YoY Change 2.4% -12.67% -69.12%
Total Short-Term Liabilities $11.15M $10.44M $9.637M
YoY Change 10.44% 8.34% 1.84%
LONG-TERM LIABILITIES
Long-Term Debt $239.0K $360.0K $2.568M
YoY Change -70.13% -85.98% 1747.48%
Other Long-Term Liabilities $1.394M $650.0K $807.0K
YoY Change 74.25% -19.45% 111.26%
Total Long-Term Liabilities $1.633M $1.010M $3.375M
YoY Change 2.06% -70.07% 547.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.15M $10.44M $9.637M
Total Long-Term Liabilities $1.633M $1.010M $3.375M
Total Liabilities $12.78M $11.45M $13.01M
YoY Change 9.74% -12.0% 30.33%
SHAREHOLDERS EQUITY
Retained Earnings -$87.30M -$87.45M -$90.23M
YoY Change -1.39% -3.09%
Common Stock $27.00K $27.00K $26.00K
YoY Change 3.85% 3.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $49.47M $48.19M $41.06M
YoY Change
Total Liabilities & Shareholders Equity $62.25M $59.64M $54.08M
YoY Change 12.5% 10.29% -28.72%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income $148.0K $588.0K -$545.0K
YoY Change -91.31% -207.89% -39.17%
Depreciation, Depletion And Amortization $74.00K $78.00K $108.0K
YoY Change -21.28% -27.78% -82.58%
Cash From Operating Activities $1.621M $2.652M $881.0K
YoY Change 3.91% 201.02% -200.57%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $83.00K
YoY Change -100.0% -100.0% -1483.33%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 -$83.00K
YoY Change -100.0% -100.0% 1283.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 233.0K -81.00K -283.0K
YoY Change -112.73% -71.38% 1130.43%
NET CHANGE
Cash From Operating Activities 1.621M 2.652M 881.0K
Cash From Investing Activities 0.000 0.000 -83.00K
Cash From Financing Activities 233.0K -81.00K -283.0K
Net Change In Cash 1.854M 2.571M 515.0K
YoY Change -47.33% 399.22% -156.91%
FREE CASH FLOW
Cash From Operating Activities $1.621M $2.652M $881.0K
Capital Expenditures $0.00 $0.00 $83.00K
Free Cash Flow $1.621M $2.652M $798.0K
YoY Change 1504.95% 232.33% -191.72%

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ShareBasedCompensation
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TaxesPaidOnTheNetSettlementOfStockOptionsAndRsus
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Dividends
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NetIncomeLoss
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StockholdersEquity
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cxdo Allowance For Credit Losses
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ShareBasedCompensation
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ShareBasedCompensation
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NonCashOperatingLeaseAmortization
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IncreaseDecreaseInContractWithCustomerLiability
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IncreaseDecreaseInContractWithCustomerLiability
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2486000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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PaymentsToAcquirePropertyPlantAndEquipment
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PaymentsToAcquirePropertyPlantAndEquipment
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NetCashProvidedByUsedInInvestingActivities
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ProceedsFromRepaymentsOfLinesOfCredit
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FinanceLeasePrincipalPayments
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ProceedsFromNotesPayable
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RepaymentsOfNotesPayable
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RepaymentsOfNotesPayable
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ProceedsFromStockOptionsExercised
1133000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
40000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
0 usd
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PaymentsOfDividends
130000 usd
cxdo Taxes Paid On The Net Settlement Of Stock Options And Rsus
TaxesPaidOnTheNetSettlementOfStockOptionsAndRsus
92000 usd
cxdo Taxes Paid On The Net Settlement Of Stock Options And Rsus
TaxesPaidOnTheNetSettlementOfStockOptionsAndRsus
264000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
778000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0 usd
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EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3264000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5475000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13611000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4200000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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IncomeTaxesPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
24000 usd
us-gaap Interest Paid Net
InterestPaidNet
75000 usd
us-gaap Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
0 usd
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ProceedsFromSaleOfOtherPropertyPlantAndEquipment
2333000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"><strong>Use of Estimates </strong><strong>– </strong>In preparing the consolidated financial statements, management makes assumptions, estimates and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of net sales and expenses during the reported periods. Specific estimates and judgments include valuation of goodwill and intangible assets in connection with business acquisitions and asset acquisitions, allowances for doubtful accounts, uncertainties related to certain income tax benefits, valuation of deferred income tax assets, valuations of share-based payments, annual incentive bonuses accrual, recoverability of long-lived assets and intangible assets, and product warranty liabilities. Management’s estimates are based on historical experience and on our expectations that are believed to be reasonable. The combination of these factors forms the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from our current estimates and those differences may be material.</p>
CY2023Q2 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.10 pure
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.10 pure
CY2023Q2 cxdo Desktop Services Revenue
DesktopServicesRevenue
1432000 usd
cxdo Software Licenses Revenue
SoftwareLicensesRevenue
2093000 usd
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DesktopServicesRevenue
2657000 usd
CY2024Q2 cxdo Weighted Average Basic Shares Outstanding B
WeightedAverageBasicSharesOutstandingB
26664220000 shares
CY2023Q2 cxdo Weighted Average Basic Shares Outstanding B
WeightedAverageBasicSharesOutstandingB
25972628000 shares
cxdo Weighted Average Basic Shares Outstanding B
WeightedAverageBasicSharesOutstandingB
26489562000 shares
cxdo Weighted Average Basic Shares Outstanding B
WeightedAverageBasicSharesOutstandingB
25853998000 shares
CY2024Q2 cxdo Diluted Weighted Average Outstanding Shares Of Common Stock C
DilutedWeightedAverageOutstandingSharesOfCommonStockC
29510903000 shares
CY2023Q2 cxdo Diluted Weighted Average Outstanding Shares Of Common Stock C
DilutedWeightedAverageOutstandingSharesOfCommonStockC
25972628000 shares
cxdo Diluted Weighted Average Outstanding Shares Of Common Stock C
DilutedWeightedAverageOutstandingSharesOfCommonStockC
29810838000 shares
cxdo Diluted Weighted Average Outstanding Shares Of Common Stock C
DilutedWeightedAverageOutstandingSharesOfCommonStockC
25853998000 shares
CY2024Q1 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
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CY2024Q1 us-gaap Net Investment In Lease Allowance For Credit Loss Current
NetInvestmentInLeaseAllowanceForCreditLossCurrent
125000 usd
CY2024Q2 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
18000 usd
CY2023 cxdo Products Warranty Liabilities Ending Balance
ProductsWarrantyLiabilitiesEndingBalance
25000 usd

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