$ELSE
ELECTRO SENSORS INC

2024 Q3 Form 10-Q Financial Statement

#000089710124000353 Filed on August 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $2.512M $2.217M
YoY Change 22.12% 3.74%
Cost Of Revenue $1.247M $1.170M
YoY Change 17.2% 9.45%
Gross Profit $1.265M $1.047M
YoY Change 27.39% -1.97%
Gross Profit Margin 50.36% 47.23%
Selling, General & Admin $857.0K $890.0K
YoY Change 6.99% 13.23%
% of Gross Profit 67.75% 85.0%
Research & Development $235.0K $264.0K
YoY Change 7.8% 10.92%
% of Gross Profit 18.58% 25.21%
Depreciation & Amortization $23.00K $23.00K
YoY Change 15.0% 0.0%
% of Gross Profit 1.82% 2.2%
Operating Expenses $1.092M $1.154M
YoY Change 7.16% 12.7%
Operating Profit $173.0K -$107.0K
YoY Change -765.38% -343.18%
Interest Expense $117.0K $109.0K
YoY Change 6.36% 15.96%
% of Operating Profit 67.63%
Other Income/Expense, Net $117.0K $109.0K
YoY Change 7.34% 15.96%
Pretax Income $290.0K $2.000K
YoY Change 249.4% -98.55%
Income Tax $52.00K $6.000K
% Of Pretax Income 17.93% 300.0%
Net Earnings $238.0K -$4.000K
YoY Change 2875.0% -103.45%
Net Earnings / Revenue 9.47% -0.18%
Basic Earnings Per Share $0.07 $0.00
Diluted Earnings Per Share $0.07 $0.00
COMMON SHARES
Basic Shares Outstanding 3.428M shares 3.428M shares
Diluted Shares Outstanding 3.434M shares 3.428M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.30M $9.944M
YoY Change 3.77% 3.27%
Cash & Equivalents $10.25M $9.888M
Short-Term Investments $56.00K $56.00K
Other Short-Term Assets $240.0K $177.0K
YoY Change -13.98% -20.98%
Inventory $2.003M $1.865M
Prepaid Expenses
Receivables $1.182M $1.180M
Other Receivables $32.00K $41.00K
Total Short-Term Assets $13.76M $13.21M
YoY Change 3.88% 1.58%
LONG-TERM ASSETS
Property, Plant & Equipment $911.0K $930.0K
YoY Change 0.44% 0.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $287.0K $330.0K
YoY Change 43.5% -4.07%
Total Long-Term Assets $1.198M $1.260M
YoY Change 8.42% -1.02%
TOTAL ASSETS
Total Short-Term Assets $13.76M $13.21M
Total Long-Term Assets $1.198M $1.260M
Total Assets $14.96M $14.47M
YoY Change 4.23% 1.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $220.0K $199.0K
YoY Change -15.71% -44.1%
Accrued Expenses $639.0K $439.0K
YoY Change 14.31% 1.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $859.0K $638.0K
YoY Change 4.63% -19.24%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $859.0K $638.0K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $859.0K $638.0K
YoY Change 4.76% -19.24%
SHAREHOLDERS EQUITY
Retained Earnings $11.43M $11.19M
YoY Change 4.0% 1.91%
Common Stock $2.670M $2.639M
YoY Change 4.99% 5.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.10M $13.83M
YoY Change
Total Liabilities & Shareholders Equity $14.96M $14.47M
YoY Change 4.23% 1.35%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $238.0K -$4.000K
YoY Change 2875.0% -103.45%
Depreciation, Depletion And Amortization $23.00K $23.00K
YoY Change 15.0% 0.0%
Cash From Operating Activities $362.0K -$158.0K
YoY Change 57.39% -1416.67%
INVESTING ACTIVITIES
Capital Expenditures $4.000K $26.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$4.000K -$26.00K
YoY Change -99.79% -153.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities 362.0K -158.0K
Cash From Investing Activities -4.000K -26.00K
Cash From Financing Activities 0.000 0.000
Net Change In Cash 358.0K -184.0K
YoY Change -121.06% -406.67%
FREE CASH FLOW
Cash From Operating Activities $362.0K -$158.0K
Capital Expenditures $4.000K $26.00K
Free Cash Flow $358.0K -$184.0K
YoY Change 55.65% -1633.33%

Facts In Submission

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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
18000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-51000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9870000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9626000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9888000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9575000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
101000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
129000 usd
us-gaap Interest Paid Net
InterestPaidNet
0 usd
us-gaap Interest Paid Net
InterestPaidNet
1000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
11000 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
11000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">Use of Estimates</span></p> <p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;"> </span></p> <p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Times New Roman'; font-size: 10pt; margin: 0pt; line-height: inherit;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">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 amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Current significant estimates, including the underlying assumptions, consist of economic lives of long-lived assets, realizability of trade receivables, and valuation of deferred tax assets/liabilities, inventory, investments, and stock compensation expense. It is at least reasonably possible that these estimates may change in the near term</span>. </span></p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: 'Times New Roman', serif; text-align: left; line-height: 1.2;"><span style="font-weight: bold; line-height: inherit;">Reclassification of Prior Year Presentation</span></p> <p style="margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: 'Times New Roman', serif; text-align: left; line-height: 1.2;"><br/></p> <p style="margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: 'Times New Roman', serif; text-align: left; line-height: 1.2;">All Treasury Bills have been reclassified to cash equivalents for consistency with the current year presentation. The reclassification had no effect on the reported results of operations. The Balance Sheet and Statement of Cash Flows have been adjusted to reflect this reclassification.</p>
else Number Of Private Companies Which Entity Has Investments In Common Equity Securities
NumberOfPrivateCompaniesWhichEntityHasInvestmentsInCommonEquitySecurities
2
CY2024Q2 else Available For Sale Marketable Securities Amortized Cost
AvailableForSaleMarketableSecuritiesAmortizedCost
54000 usd
CY2024Q2 else Available For Sale Marketable Securities Accumulated Gross Unrealized Gain
AvailableForSaleMarketableSecuritiesAccumulatedGrossUnrealizedGain
2000 usd
CY2024Q2 else Available For Sale Marketable Securities Accumulated Gross Unrealized Loss
AvailableForSaleMarketableSecuritiesAccumulatedGrossUnrealizedLoss
0 usd
CY2024Q2 us-gaap Marketable Securities
MarketableSecurities
56000 usd
CY2023Q4 else Available For Sale Marketable Securities Amortized Cost
AvailableForSaleMarketableSecuritiesAmortizedCost
54000 usd
CY2023Q4 else Available For Sale Marketable Securities Accumulated Gross Unrealized Gain
AvailableForSaleMarketableSecuritiesAccumulatedGrossUnrealizedGain
2000 usd
CY2023Q4 else Available For Sale Marketable Securities Accumulated Gross Unrealized Loss
AvailableForSaleMarketableSecuritiesAccumulatedGrossUnrealizedLoss
0 usd
CY2023Q4 us-gaap Marketable Securities
MarketableSecurities
56000 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
56000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease
0 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease
0 usd
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
56000 usd
CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
56000 usd
CY2024Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
1192000 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1172000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
301000 usd
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
347000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
288000 usd
CY2024Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
10000 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
10000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
1865000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
1751000 usd
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
0.2507 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0465 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
175000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.06
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.35
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
25000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.13
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
25000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
175000 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.04
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
300000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.35
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
75000 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.68
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
300000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.35
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1;"><b><span style="font-size: 10pt; line-height: inherit;">Note 6. Contingencies</span></b><span style="font-size: 10pt; line-height: inherit;"></span></p> <p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1;"><span style="font-size: 10pt; line-height: inherit;"> </span></p> <p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><span style="font-size: 10pt; line-height: inherit;">The Company at times becomes subject to claims against it in the ordinary course of business. There are currently no pending or threatened claims against the Company that it believes will have a material adverse effect on its results of operations or liquidity.</span></p>

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