$CYAN
CYANOTECH CORP

2023 Q1 Form 10-Q Financial Statement

#000143774923002878 Filed on February 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4
Revenue $5.392M $5.891M
YoY Change -33.65% -37.72%
Cost Of Revenue $4.005M $4.127M
YoY Change -23.45% -33.66%
Gross Profit $1.387M $1.764M
YoY Change -52.07% -45.52%
Gross Profit Margin 25.72% 29.94%
Selling, General & Admin $2.427M $2.062M
YoY Change 5.48% -18.5%
% of Gross Profit 174.98% 116.89%
Research & Development $214.0K $106.0K
YoY Change -6.55% -47.0%
% of Gross Profit 15.43% 6.01%
Depreciation & Amortization $412.0K $409.0K
YoY Change 3.78% 1.24%
% of Gross Profit 29.7% 23.19%
Operating Expenses $2.641M $2.168M
YoY Change 4.39% -20.59%
Operating Profit -$1.254M -$404.0K
YoY Change -444.51% -179.53%
Interest Expense -$169.0K $186.0K
YoY Change 111.25% 60.34%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.423M -$590.0K
YoY Change -601.06% -250.51%
Income Tax $7.000K $8.000K
% Of Pretax Income
Net Earnings -$1.430M -$598.0K
YoY Change -616.25% -254.92%
Net Earnings / Revenue -26.52% -10.15%
Basic Earnings Per Share -$0.10
Diluted Earnings Per Share -$0.23 -$0.10
COMMON SHARES
Basic Shares Outstanding 6.272M 6.272M
Diluted Shares Outstanding 6.272M

Balance Sheet

Concept 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $974.0K $513.0K
YoY Change -62.38% -77.68%
Cash & Equivalents $974.0K $513.0K
Short-Term Investments
Other Short-Term Assets $484.0K $284.0K
YoY Change -11.19% -3.07%
Inventory $10.71M $11.57M
Prepaid Expenses
Receivables $1.331M $2.156M
Other Receivables $0.00 $0.00
Total Short-Term Assets $13.50M $14.53M
YoY Change -17.02% -8.29%
LONG-TERM ASSETS
Property, Plant & Equipment $11.37M $11.69M
YoY Change -4.37% -2.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $90.00K $89.00K
YoY Change -17.43% -20.54%
Total Long-Term Assets $16.23M $15.25M
YoY Change 2.86% -1.39%
TOTAL ASSETS
Total Short-Term Assets $13.50M $14.53M
Total Long-Term Assets $16.23M $15.25M
Total Assets $29.73M $29.77M
YoY Change -7.23% -4.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.021M $1.031M
YoY Change -56.77% -54.68%
Accrued Expenses $1.101M $988.0K
YoY Change -22.03% -23.47%
Deferred Revenue $89.00K $97.00K
YoY Change -45.73% 16.87%
Short-Term Debt $2.040M $2.050M
YoY Change
Long-Term Debt Due $5.409M $2.311M
YoY Change 1003.88% 269.17%
Total Short-Term Liabilities $8.103M $4.670M
YoY Change 68.08% 0.28%
LONG-TERM LIABILITIES
Long-Term Debt $1.000M $4.166M
YoY Change -76.94% -5.32%
Other Long-Term Liabilities $3.000K $0.00
YoY Change -80.0% -100.0%
Total Long-Term Liabilities $1.003M $4.166M
YoY Change -76.95% -5.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.103M $4.670M
Total Long-Term Liabilities $1.003M $4.166M
Total Liabilities $13.38M $12.04M
YoY Change 6.55% -0.54%
SHAREHOLDERS EQUITY
Retained Earnings -$17.63M -$16.20M
YoY Change 24.24% 11.98%
Common Stock $125.0K $125.0K
YoY Change 0.81% 0.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.35M $17.73M
YoY Change
Total Liabilities & Shareholders Equity $29.73M $29.77M
YoY Change -7.23% -4.88%

Cashflow Statement

Concept 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income -$1.430M -$598.0K
YoY Change -616.25% -254.92%
Depreciation, Depletion And Amortization $412.0K $409.0K
YoY Change 3.78% 1.24%
Cash From Operating Activities $583.0K -$223.0K
YoY Change -43.67% -124.29%
INVESTING ACTIVITIES
Capital Expenditures $50.00K $328.0K
YoY Change -109.52% -246.43%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$50.00K -$328.0K
YoY Change -90.48% 46.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -72.00K 685.0K
YoY Change -67.12% -229.25%
NET CHANGE
Cash From Operating Activities 583.0K -223.0K
Cash From Investing Activities -50.00K -328.0K
Cash From Financing Activities -72.00K 685.0K
Net Change In Cash 461.0K 134.0K
YoY Change 58.42% -18.29%
FREE CASH FLOW
Cash From Operating Activities $583.0K -$223.0K
Capital Expenditures $50.00K $328.0K
Free Cash Flow $533.0K -$551.0K
YoY Change -65.83% -148.25%

Facts In Submission

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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-267000 usd
CY2022Q1 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
513000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
11574000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-180000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1368000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-269000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-424000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
447000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-67000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-41000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-333000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-236000 usd
us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
-14000 usd
us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
-12000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2683000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1344000 usd
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
1018000 usd
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
745000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1018000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-745000 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
1550000 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-1000000 usd
cyan Proceeds From Lines Of Credit Related Parties
ProceedsFromLinesOfCreditRelatedParties
500000 usd
cyan Proceeds From Lines Of Credit Related Parties
ProceedsFromLinesOfCreditRelatedParties
0 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
-0 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
500000 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
415000 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
529000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
10000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
39000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1625000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2068000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2076000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1469000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2589000 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3767000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
513000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2298000 usd
us-gaap Interest Paid Net
InterestPaidNet
242000 usd
us-gaap Interest Paid Net
InterestPaidNet
268000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
27000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
513000 usd
CY2022Q4 cyan Working Capital Deficit
WorkingCapitalDeficit
9857000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2589000 usd
CY2022Q1 cyan Working Capital Deficit
WorkingCapitalDeficit
11443000 usd
CY2022Q4 cyan Long Term Debt And Capital Lease Obligations Current And Noncurrent
LongTermDebtAndCapitalLeaseObligationsCurrentAndNoncurrent
3523000 usd
CY2022Q1 us-gaap Inventory Net
InventoryNet
9466000 usd
CY2022Q4 cyan Inventory Abnormal Production Costs
InventoryAbnormalProductionCosts
64000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1947000 usd
CY2022Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1490000 usd
CY2022Q4 cyan Non Inventoriable Fixed Costs
NonInventoriableFixedCosts
72000 usd
CY2021Q4 cyan Non Inventoriable Fixed Costs
NonInventoriableFixedCosts
76000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2793000 usd
CY2022Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2868000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
6448000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Use of Estimates</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:45pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of any contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the periods reported.  Management reviews these estimates and assumptions periodically and reflects the effect of revisions in the period that they are determined to be necessary.  Actual results could differ from those estimates and assumptions.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Concentration Risk</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:45pt;">A significant portion of revenue and accounts receivable are derived from a few major customers. For the <em style="font: inherit;">three</em> months ended <em style="font: inherit;"> December 31, 2022, </em>one customer individually accounted for 36% of the Company’s total net sales, and for the <em style="font: inherit;">three</em> months ended <em style="font: inherit;"> December 31, 2021, </em>two customers individually accounted for 22% and 21% of the Company’s total net sales. For the <em style="font: inherit;">nine</em> months ended <em style="font: inherit;"> December 31, 2022, </em>two customers individually accounted for 35% and 8% of the Company’s total net sales, and for the <em style="font: inherit;">nine</em> months ended <em style="font: inherit;"> December 31, 2021, </em>two customers individually accounted for 21% and 18% of the Company’s total net sales. <span style="-sec-ix-hidden:c92663059"><span style="-sec-ix-hidden:c92663060">Two</span></span> customers accounted for 97% and 63% of the Company’s accounts receivable balance as of <em style="font: inherit;"> December 31, 2022 </em>and <em style="font: inherit;"> March 31, 2022, </em>respectively.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2022Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2000 usd
CY2021Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
6000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
94000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
55000 usd
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5891000 usd
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9459000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
17786000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
27842000 usd
cyan Non Inventoriable Fixed Costs
NonInventoriableFixedCosts
115000 usd
CY2022Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
4595000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11000 usd
CY2021Q4 cyan Inventory Abnormal Production Costs
InventoryAbnormalProductionCosts
0 usd
cyan Inventory Abnormal Production Costs
InventoryAbnormalProductionCosts
90000 usd
cyan Inventory Abnormal Production Costs
InventoryAbnormalProductionCosts
0 usd
cyan Non Inventoriable Fixed Costs
NonInventoriableFixedCosts
113000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
21000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
36997000 usd
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
35376000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
25537000 usd
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
24339000 usd
CY2022Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
233000 usd
CY2022Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
848000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11693000 usd
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11885000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2022Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
409000 usd
CY2021Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
404000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1243000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1202000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
2311000 usd
CY2022Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
490000 usd
CY2022Q4 cyan Longterm Debt Gross Excluding Current Maturities
LongtermDebtGrossExcludingCurrentMaturities
4262000 usd
CY2022Q1 cyan Longterm Debt Gross Excluding Current Maturities
LongtermDebtGrossExcludingCurrentMaturities
4448000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
96000 usd
CY2022Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
112000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4166000 usd
CY2022Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4336000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
96000 usd
CY2022Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
112000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.006 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.011 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
65000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
267000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
288000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1309000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
332000 usd
CY2022Q4 cyan Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
2262000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
4523000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12Y
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.073 pure
us-gaap Operating Lease Expense
OperatingLeaseExpense
517000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
445000 usd
CY2022Q4 cyan Operating Lease Rightofuse Asset Before Accumulated Amortization
OperatingLeaseRightofuseAssetBeforeAccumulatedAmortization
4720000 usd
CY2022Q1 cyan Operating Lease Rightofuse Asset Before Accumulated Amortization
OperatingLeaseRightofuseAssetBeforeAccumulatedAmortization
4720000 usd
CY2022Q4 cyan Operating Lease Rightofuse Asset Accumulated Amortization
OperatingLeaseRightofuseAssetAccumulatedAmortization
1257000 usd
CY2022Q1 cyan Operating Lease Rightofuse Asset Accumulated Amortization
OperatingLeaseRightofuseAssetAccumulatedAmortization
933000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3463000 usd
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3787000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
243000 usd
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
393000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3203000 usd
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3386000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3446000 usd
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3779000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
120000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
480000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
457000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
437000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
437000 usd
CY2022Q4 cyan Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
3228000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5159000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1713000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3446000 usd
CY2022Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
218000 usd
CY2022Q1 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
488000 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
111000 usd
CY2022Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
211000 usd
CY2022Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
403000 usd
CY2022Q1 us-gaap Accrued Vacation Current
AccruedVacationCurrent
392000 usd
CY2022Q4 cyan Accrued Rent And Utilities Current
AccruedRentAndUtilitiesCurrent
31000 usd
CY2022Q1 cyan Accrued Rent And Utilities Current
AccruedRentAndUtilitiesCurrent
108000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
225000 usd
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
213000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
988000 usd
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1412000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
1950000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1103217
CY2022Q4 cyan Sharebased Compensation Arrangement By Sharebased Payment Award Number Of Shares Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardNumberOfSharesOutstanding
324760
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
386000 usd
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
252500
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.34
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y6M
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
159650 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
50000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.43
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
49500
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
5.80
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
253000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.88
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y8M12D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
111333
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.90
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y9M18D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 usd
CY2022Q4 us-gaap Share Price
SharePrice
1.10
CY2022Q1 us-gaap Share Price
SharePrice
3.37
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
141667
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.33
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
50000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.94
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
50000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
1.33
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
141667
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.55
cyan Sharebased Compensation Arrangement By Share Based Payment Award Weighted Average Grant Date Fair Value Optionsgranted
SharebasedCompensationArrangementByShareBasedPaymentAwardWeightedAverageGrantDateFairValueOptionsgranted
97000 usd
CY2022Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8000 usd
CY2021Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6000 usd
CY2022Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.014 pure
CY2021Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.015 pure
CY2021Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
12000
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
-598000 usd
CY2021Q4 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
386000 usd
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6195000
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6272000
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6183000
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
us-gaap Net Income Loss
NetIncomeLoss
-2010000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6235000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.32
us-gaap Net Income Loss
NetIncomeLoss
1877000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6144000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
21000
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
1877000 usd
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6165000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30

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0001437749-23-002878.txt Edgar Link pending
0001437749-23-002878-xbrl.zip Edgar Link pending
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cyan-20221231_def.xml Edgar Link unprocessable
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cyan-20221231_lab.xml Edgar Link unprocessable
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