$FALC
FALCONSTOR SOFTWARE INC

2022 Q1 Form 10-Q Financial Statement

#000162828022013861 Filed on May 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $2.049M $3.828M
YoY Change -46.48% 20.38%
Cost Of Revenue $415.3K $649.0K
YoY Change -36.01% 18.57%
Gross Profit $1.634M $3.179M
YoY Change -48.61% 20.76%
Gross Profit Margin 79.73% 83.05%
Selling, General & Admin $2.040M $2.235M
YoY Change -8.71% 7.72%
% of Gross Profit 124.85% 70.28%
Research & Development $706.0K $659.9K
YoY Change 6.98% -2.22%
% of Gross Profit 43.21% 20.76%
Depreciation & Amortization $35.52K $57.49K
YoY Change -38.21% 71.28%
% of Gross Profit 2.17% 1.81%
Operating Expenses $2.747M $3.197M
YoY Change -14.08% 5.27%
Operating Profit -$1.113M -$17.44K
YoY Change 6279.63% -95.68%
Interest Expense -$118.0K -$283.7K
YoY Change -58.4% 15.38%
% of Operating Profit
Other Income/Expense, Net -$118.0K -$283.6K
YoY Change -58.4% 15.38%
Pretax Income -$1.231M $452.9K
YoY Change -371.72% -169.7%
Income Tax -$121.3K $44.62K
% Of Pretax Income 9.85%
Net Earnings -$1.109M $408.3K
YoY Change -371.72% -156.72%
Net Earnings / Revenue -54.14% 10.67%
Basic Earnings Per Share -$0.20 -$0.01
Diluted Earnings Per Share -$0.20 -$0.01
COMMON SHARES
Basic Shares Outstanding 7.082M shares 5.949M shares
Diluted Shares Outstanding 7.082M shares 5.949M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.382M $2.021M
YoY Change 67.33% 107.04%
Cash & Equivalents $3.400M $2.000M
Short-Term Investments
Other Short-Term Assets $1.264M $2.063M
YoY Change -38.72% -3.02%
Inventory $0.00 $15.06K
Prepaid Expenses
Receivables $800.0K $3.000M
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.898M $7.433M
YoY Change -20.66% 35.9%
LONG-TERM ASSETS
Property, Plant & Equipment $128.2K $196.6K
YoY Change -34.8% -38.88%
Goodwill $4.150M $4.150M
YoY Change 0.0% 0.0%
Intangibles $40.83K $84.05K
YoY Change -51.43% -0.23%
Long-Term Investments
YoY Change
Other Assets $99.83K $862.5K
YoY Change -88.43% -5.37%
Total Long-Term Assets $5.044M $6.014M
YoY Change -16.14% -19.75%
TOTAL ASSETS
Total Short-Term Assets $5.898M $7.433M
Total Long-Term Assets $5.044M $6.014M
Total Assets $10.94M $13.45M
YoY Change -18.64% 3.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $638.6K $917.6K
YoY Change -30.4% 5.68%
Accrued Expenses $801.8K $2.375M
YoY Change -66.24% 4.11%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $3.397M
YoY Change -100.0% 239.21%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.564M $11.08M
YoY Change -49.76% 18.74%
LONG-TERM LIABILITIES
Long-Term Debt $2.156M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $957.9K $698.3K
YoY Change 37.17% -9.18%
Total Long-Term Liabilities $957.9K $698.3K
YoY Change 37.17% -9.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.564M $11.08M
Total Long-Term Liabilities $957.9K $698.3K
Total Liabilities $10.59M $14.60M
YoY Change -27.46% -11.09%
SHAREHOLDERS EQUITY
Retained Earnings -$124.6M -$122.3M
YoY Change 1.85% -1.83%
Common Stock $7.082K $5.949K
YoY Change 19.05% 0.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$14.30M -$14.60M
YoY Change
Total Liabilities & Shareholders Equity $10.94M $13.45M
YoY Change -18.64% 3.73%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$1.109M $408.3K
YoY Change -371.72% -156.72%
Depreciation, Depletion And Amortization $35.52K $57.49K
YoY Change -38.21% 71.28%
Cash From Operating Activities $200.0K $137.7K
YoY Change 45.29% -134.56%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $41.12K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.590K
YoY Change -100.0% -101.92%
Cash From Investing Activities $0.00 -$39.53K
YoY Change -100.0% -58.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 $0.00
YoY Change
NET CHANGE
Cash From Operating Activities $200.0K $137.7K
Cash From Investing Activities $0.00 -$39.53K
Cash From Financing Activities $0.00 $0.00
Net Change In Cash $200.4K $100.3K
YoY Change 99.76% -120.11%
FREE CASH FLOW
Cash From Operating Activities $200.0K $137.7K
Capital Expenditures $0.00 $41.12K
Free Cash Flow $200.0K $96.54K
YoY Change 107.17% -124.24%

Facts In Submission

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CY2021Q1 falc Increase Decrease Operating Lease Liabilities
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CY2021Q4 falc Capitalized Software Development Costsfor Software Soldto Customers Accumulated Amortization
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CY2021Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
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CY2022Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
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CY2021Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
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CY2020Q4 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Liability
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CY2022Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
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CY2021Q1 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Liability
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718070 USD
CY2022Q1 falc Redemptionas Partof Fundamental Sale Transaction Percent
RedemptionasPartofFundamentalSaleTransactionPercent
0.005
CY2022Q1 falc Probabilityof Redemption Absenta Fundamental Sale Transaction Percent
ProbabilityofRedemptionAbsentaFundamentalSaleTransactionPercent
0.0475
CY2022Q1 falc Derivatives Volatility Rate
DerivativesVolatilityRate
0.65
CY2021Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2022Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2022Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2021Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2022Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
49078 shares
CY2021Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
4.10
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2700000 USD
CY2021Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
285000 shares
CY2021Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
4.10
CY2021Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
900000 USD
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2049107 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3828326 USD
CY2022Q1 us-gaap Noncurrent Assets
NoncurrentAssets
852423 USD
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
1137929 USD
CY2022Q1 falc Numberof Customers Accountingfor Morethan10 Percentof Revenue
NumberofCustomersAccountingforMorethan10PercentofRevenue
2 customer
CY2021Q1 falc Numberof Customers Accountingfor Morethan10 Percentof Revenue
NumberofCustomersAccountingforMorethan10PercentofRevenue
2 customer
CY2021Q1 falc Numberof Customers Accountingfor Morethan10 Percentof Revenue
NumberofCustomersAccountingforMorethan10PercentofRevenue
2 customer
CY2022Q1 falc Number Of Customers With Significant Accounts Receivable Balance
NumberOfCustomersWithSignificantAccountsReceivableBalance
3 Integer
CY2021Q4 falc Number Of Customers With Significant Accounts Receivable Balance
NumberOfCustomersWithSignificantAccountsReceivableBalance
2 Integer

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