$GLXZ
Galaxy Gaming, Inc.

2017 Q4 Form 10-K Financial Statement

#000156459018007438 Filed on April 02, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 2016 Q4
Revenue $3.890M $14.86M $3.210M
YoY Change 21.18% 19.32% 9.56%
Cost Of Revenue $90.00K $226.1K $60.00K
YoY Change 50.0% 68.36% 100.0%
Gross Profit $3.800M $14.63M $3.150M
YoY Change 20.63% 18.78% 8.62%
Gross Profit Margin 97.69% 98.48% 98.13%
Selling, General & Admin $2.510M $9.057M $1.930M
YoY Change 30.05% 34.57% -11.06%
% of Gross Profit 66.05% 61.91% 61.27%
Research & Development $90.00K $488.8K $80.00K
YoY Change 12.5% 38.16% 0.0%
% of Gross Profit 2.37% 3.34% 2.54%
Depreciation & Amortization $450.0K $1.767M $450.0K
YoY Change 0.0% 4.03% -70.78%
% of Gross Profit 11.84% 12.08% 14.29%
Operating Expenses $3.040M $9.546M $2.460M
YoY Change 23.58% 34.75% -7.87%
Operating Profit $760.0K $2.504M $690.0K
YoY Change 10.14% -26.12% 200.0%
Interest Expense -$350.0K $1.697M -$300.0K
YoY Change 16.67% 40.32% 900.0%
% of Operating Profit -46.05% 67.77% -43.48%
Other Income/Expense, Net
YoY Change
Pretax Income $410.0K $553.2K -$30.00K
YoY Change -1466.67% -78.19% -115.79%
Income Tax $350.0K $432.2K -$220.0K
% Of Pretax Income 85.37% 78.13%
Net Earnings -$70.00K -$11.42K $190.0K
YoY Change -136.84% -100.65% -13.64%
Net Earnings / Revenue -1.8% -0.08% 5.92%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.769K -$289.70 $4.787K
COMMON SHARES
Basic Shares Outstanding 39.32M
Diluted Shares Outstanding 39.42M

Balance Sheet

Concept 2017 Q4 2017 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.490M $3.486M $2.300M
YoY Change 51.74% 51.26% 303.51%
Cash & Equivalents $3.581M $3.486M $2.305M
Short-Term Investments
Other Short-Term Assets $460.0K $458.2K $270.0K
YoY Change 70.37% 64.02% 10747.73%
Inventory $524.1K $524.1K $427.1K
Prepaid Expenses
Receivables $2.302M $2.302M $2.137M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.770M $6.770M $5.148M
YoY Change 31.5% 31.5% 68.21%
LONG-TERM ASSETS
Property, Plant & Equipment $263.9K $637.5K $356.3K
YoY Change -25.93% 12.16% -17.15%
Goodwill $1.091M $1.091M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $23.00K $253.7K $82.05K
YoY Change -71.97% -43.52% 96.32%
Total Long-Term Assets $12.34M $12.34M $13.86M
YoY Change -10.96% -10.96% -7.02%
TOTAL ASSETS
Total Short-Term Assets $6.770M $6.770M $5.148M
Total Long-Term Assets $12.34M $12.34M $13.86M
Total Assets $19.11M $19.11M $19.01M
YoY Change 0.54% 0.54% 5.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.035M $1.035M $461.9K
YoY Change 124.15% 124.15% -67.51%
Accrued Expenses $887.8K $887.8K $1.109M
YoY Change -19.98% -19.98% 34.65%
Deferred Revenue $1.084M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.163M $1.196M $1.199M
YoY Change -3.02% -2.8% -74.2%
Total Short-Term Liabilities $4.869M $4.869M $4.709M
YoY Change 3.41% 3.41% -40.8%
LONG-TERM LIABILITIES
Long-Term Debt $7.420M $7.435M $8.669M
YoY Change -14.4% -14.7% 16.58%
Other Long-Term Liabilities $1.350M $1.347M $960.0K
YoY Change 40.63% 40.16% 1820.0%
Total Long-Term Liabilities $7.420M $8.782M $8.669M
YoY Change -14.4% -9.25% 16.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.869M $4.869M $4.709M
Total Long-Term Liabilities $7.420M $8.782M $8.669M
Total Liabilities $13.65M $13.65M $14.39M
YoY Change -5.11% -5.11% -7.31%
SHAREHOLDERS EQUITY
Retained Earnings $1.466M $1.477M
YoY Change -0.77% -286.39%
Common Stock $3.997M $3.149M
YoY Change 26.95% 4.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.463M $5.463M $4.626M
YoY Change
Total Liabilities & Shareholders Equity $19.11M $19.11M $19.01M
YoY Change 0.54% 0.54% 5.79%

Cashflow Statement

Concept 2017 Q4 2017 2016 Q4
OPERATING ACTIVITIES
Net Income -$70.00K -$11.42K $190.0K
YoY Change -136.84% -100.65% -13.64%
Depreciation, Depletion And Amortization $450.0K $1.767M $450.0K
YoY Change 0.0% 4.03% -70.78%
Cash From Operating Activities $600.0K $2.836M $510.0K
YoY Change 17.65% -31.94% -59.52%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$100.6K -$40.00K
YoY Change -100.0% 21.67% 300.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$100.6K -$40.00K
YoY Change -100.0% 21.67% 300.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.651M
YoY Change -86.38%
Cash From Financing Activities -290.0K -1.664M 10.00K
YoY Change -3000.0% -28.22% -101.28%
NET CHANGE
Cash From Operating Activities 600.0K 2.836M 510.0K
Cash From Investing Activities 0.000 -100.6K -40.00K
Cash From Financing Activities -290.0K -1.664M 10.00K
Net Change In Cash 310.0K 1.192M 480.0K
YoY Change -35.42% -32.51% 2.13%
FREE CASH FLOW
Cash From Operating Activities $600.0K $2.836M $510.0K
Capital Expenditures $0.00 -$100.6K -$40.00K
Free Cash Flow $600.0K $2.937M $550.0K
YoY Change 9.09% -30.9% -56.69%

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CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-523
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
21860
CY2017 glxz Income Tax Reconciliation Permanent Items
IncomeTaxReconciliationPermanentItems
163388
CY2016 glxz Income Tax Reconciliation Permanent Items
IncomeTaxReconciliationPermanentItems
78804
CY2017 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
52285
CY2016 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
58159
CY2017 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
145121
CY2016 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-115397
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
132377
CY2016Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
178057
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
22678
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
58656
CY2016Q4 glxz Deferred Tax Assets Tax Credit From Amended Return
DeferredTaxAssetsTaxCreditFromAmendedReturn
192461
CY2017 glxz Income Tax Reconciliation Adjustments To Uncertain Tax Positions
IncomeTaxReconciliationAdjustmentsToUncertainTaxPositions
-11577
CY2016 glxz Income Tax Reconciliation Adjustments To Uncertain Tax Positions
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-18600
CY2017Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
135068
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
44488
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2017 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2016 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2017Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
51679
CY2017 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
710368
CY2016 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
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CY2017Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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262940
CY2017 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P1Y10M24D
CY2016Q3 glxz Percentage Of Outstanding Common Stock Issuance Upon Exercise Of Warrants
PercentageOfOutstandingCommonStockIssuanceUponExerciseOfWarrants
0.050
CY2017 glxz Warrants Exercise Description
WarrantsExerciseDescription
The Warrants expire on August 29, 2022, and may not be exercised prior to the earliest of (a) the fifth anniversary of the Term Loan Agreement, (b) the date on which the obligations described in the Term Loan Agreement are satisfied in full, or (c) the date on which the lenders declare all or any portion of the outstanding amount of the Term Loan to be due and payable under the terms of the Term Loan Agreement (collectively, the "Trigger Date").
CY2017Q4 us-gaap Deferred Tax Assets Other
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177681
CY2017 glxz Warrants Expiration Date
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2022-08-29
CY2017 glxz Warrants Exercisable Period Required Prior Written Notice
WarrantsExercisablePeriodRequiredPriorWrittenNotice
P60D
CY2016Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
122744
CY2017Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
335427
CY2016Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
551918
CY2017Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
104779
CY2016Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
184861
CY2017Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
104779
CY2016Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
184861
CY2017Q4 glxz Deferred Tax Assets Liabilities Net Before Valuation Allowance
DeferredTaxAssetsLiabilitiesNetBeforeValuationAllowance
230648
CY2016Q4 glxz Deferred Tax Assets Liabilities Net Before Valuation Allowance
DeferredTaxAssetsLiabilitiesNetBeforeValuationAllowance
367057
CY2017Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
230648
CY2016Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
367057
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
56886
CY2015Q4 us-gaap Unrecognized Tax Benefits
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51074
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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5229
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
12572
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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16806
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
6760
CY2017 glxz Unrecognized Tax Benefits Other Adjustments
UnrecognizedTaxBenefitsOtherAdjustments
-821
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
44488

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