$GLXZ
Galaxy Gaming, Inc.

2018 Q1 Form 10-Q Financial Statement

#000156459018013583 Filed on May 15, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $4.361M $3.475M
YoY Change 25.48% 16.46%
Cost Of Revenue $22.76K $20.88K
YoY Change 8.98% -3.5%
Gross Profit $4.338M $3.454M
YoY Change 25.58% 16.61%
Gross Profit Margin 99.48% 99.4%
Selling, General & Admin $2.585M $2.086M
YoY Change 23.91% 27.72%
% of Gross Profit 59.59% 60.39%
Research & Development $193.4K $138.0K
YoY Change 40.1% 73.99%
% of Gross Profit 4.46% 4.0%
Depreciation & Amortization $451.6K $436.1K
YoY Change 3.55% 4.83%
% of Gross Profit 10.41% 12.62%
Operating Expenses $2.778M $2.224M
YoY Change 24.92% 29.87%
Operating Profit $941.4K $744.3K
YoY Change 26.49% -8.49%
Interest Expense $366.1K $445.3K
YoY Change -17.79% 72.48%
% of Operating Profit 38.89% 59.83%
Other Income/Expense, Net -$259.9K -$504.0K
YoY Change -48.45% 246.23%
Pretax Income $681.6K $240.2K
YoY Change 183.71% -64.02%
Income Tax $144.8K $77.97K
% Of Pretax Income 21.24% 32.46%
Net Earnings $536.8K $162.3K
YoY Change 230.81% -62.07%
Net Earnings / Revenue 12.31% 4.67%
Basic Earnings Per Share
Diluted Earnings Per Share $12.81K $3.920K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding 42.15M 40.82M

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.400M $2.920M
YoY Change 16.44% 170.37%
Cash & Equivalents $3.396M $2.920M
Short-Term Investments
Other Short-Term Assets $310.0K $280.0K
YoY Change 10.71% 133.33%
Inventory $573.1K $466.0K
Prepaid Expenses
Receivables $2.557M $1.997M
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.831M $5.659M
YoY Change 20.71% 66.53%
LONG-TERM ASSETS
Property, Plant & Equipment $263.1K $540.0K
YoY Change -51.29% 31.71%
Goodwill $1.091M $1.091M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $23.00K $23.00K
YoY Change 0.0% -44.97%
Total Long-Term Assets $11.97M $13.49M
YoY Change -11.32% -6.52%
TOTAL ASSETS
Total Short-Term Assets $6.831M $5.659M
Total Long-Term Assets $11.97M $13.49M
Total Assets $18.80M $19.15M
YoY Change -1.85% 7.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $412.7K $394.0K
YoY Change 4.75% -69.94%
Accrued Expenses $582.7K $1.209M
YoY Change -51.81% 37.39%
Deferred Revenue $1.110M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.136M $1.188M
YoY Change -4.34% -73.99%
Total Short-Term Liabilities $4.068M $4.784M
YoY Change -14.96% -40.33%
LONG-TERM LIABILITIES
Long-Term Debt $7.217M $8.434M
YoY Change -14.43% 23.58%
Other Long-Term Liabilities $1.340M $1.020M
YoY Change 31.37% 1940.0%
Total Long-Term Liabilities $7.217M $8.434M
YoY Change -14.43% 23.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.068M $4.784M
Total Long-Term Liabilities $7.217M $8.434M
Total Liabilities $11.28M $14.28M
YoY Change -20.97% -4.56%
SHAREHOLDERS EQUITY
Retained Earnings $1.639M
YoY Change -496.85%
Common Stock $3.234M
YoY Change 6.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.166M $4.873M
YoY Change
Total Liabilities & Shareholders Equity $18.80M $19.15M
YoY Change -1.84% 7.41%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $536.8K $162.3K
YoY Change 230.81% -62.07%
Depreciation, Depletion And Amortization $451.6K $436.1K
YoY Change 3.55% 4.83%
Cash From Operating Activities $68.52K $980.0K
YoY Change -93.01% -23.44%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K -$40.00K
YoY Change -25.0% 300.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$31.46K -$40.00K
YoY Change -21.36% 300.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $302.9K $303.6K
YoY Change -0.22% -59.33%
Cash From Financing Activities -310.9K -290.0K
YoY Change 7.22% -61.84%
NET CHANGE
Cash From Operating Activities 68.52K 980.0K
Cash From Investing Activities -31.46K -40.00K
Cash From Financing Activities -310.9K -290.0K
Net Change In Cash -185.6K 646.3K
YoY Change -128.72% 26.73%
FREE CASH FLOW
Cash From Operating Activities $68.52K $980.0K
Capital Expenditures -$30.00K -$40.00K
Free Cash Flow $98.52K $1.020M
YoY Change -90.34% -20.93%

Facts In Submission

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CY2018Q1 dei Trading Symbol
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CY2018Q1 us-gaap Nature Of Operations
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<div> <p style="text-align:justify;margin-bottom:6pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">NOTE 1. NATURE OF OPERATIONS </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Unless the context indicates otherwise, references to &#8220;Galaxy Gaming,&#160;Inc.,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; or the &#8220;Company,&#8221; refer to Galaxy Gaming, Inc., a Nevada corporation (&#8220;Galaxy Gaming&#8221;). </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Nature of operations.<font style="font-size:12pt;font-weight:normal;font-style:normal;">&#160;</font><font style="font-weight:normal;font-style:normal;">We are an established global gaming company specializing in the design, development, manufacturing, marketing and acquisition of proprietary casino table games and associated technology, platforms and systems for the casino gaming industry. </font><font style="font-weight:normal;font-style:normal;color:#000000;">Casinos use our proprietary products and services to enhance their gaming floor operations and improve their profitability, productivity and security, as well as to offer popular cutting-edge gaming entertainment content and technology to their players.&nbsp;&nbsp;We market our products and services to land-based, riverboat, cruise ship and internet gaming companies located in North America, the Caribbean, Central America, the British Isles, Europe and Africa and to cruise ships and internet gaming sites worldwide.</font></p></div>
CY2018Q1 us-gaap Use Of Estimates
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<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of estimates and assumptions.<font style="font-weight:normal;font-style:normal;"> We are required to make estimates, judgments and assumptions that we believe are reasonable based on our historical experience, contract terms, observance of known trends in our company and the industry as a whole, and information available from other outside sources. Our estimates affect reported amounts for assets, liabilities, revenues, expenses and related disclosures. Actual results may differ from initial estimates.</font></p></div>
CY2018Q1 us-gaap Prior Period Reclassification Adjustment Description
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<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Reclassifications.<font style="font-weight:normal;font-style:normal;"> Certain accounts and financial statement captions in the prior periods have been reclassified to conform to the current period financial statement presentations, </font><font style="color:#000000;font-weight:normal;font-style:normal;">including the addition of restricted cash to cash and cash equivalents on the consolidated statements of cash flows as a result of the adoption of ASU No. 2016-18,&#160;</font><font style="color:#000000;font-weight:normal;">Statement of Cash Flows (Topic 230): Restricted Cash</font><font style="font-weight:normal;font-style:normal;">.&nbsp;&nbsp;See below for further detail.</font></p></div>
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47635
CY2018Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
323230
CY2018Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y21D

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