2019 Q1 Form 10-K Financial Statement

#000156459019010241 Filed on April 01, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 2017 Q4
Revenue $5.347M $18.56M $3.890M
YoY Change 22.61% 24.94% 21.18%
Cost Of Revenue $82.39K $142.8K $90.00K
YoY Change 262.03% -36.85% 50.0%
Gross Profit $5.264M $18.42M $3.800M
YoY Change 21.36% 25.9% 20.63%
Gross Profit Margin 98.46% 99.23% 97.69%
Selling, General & Admin $3.764M $10.96M $2.510M
YoY Change 45.62% 21.02% 30.05%
% of Gross Profit 71.51% 59.51% 66.05%
Research & Development $299.2K $926.5K $90.00K
YoY Change 54.69% 89.53% 12.5%
% of Gross Profit 5.68% 5.03% 2.37%
Depreciation & Amortization $473.5K $1.840M $450.0K
YoY Change 4.86% 4.14% 0.0%
% of Gross Profit 8.99% 9.99% 11.84%
Operating Expenses $4.546M $11.89M $3.040M
YoY Change 63.61% 24.53% 23.58%
Operating Profit $718.6K $3.972M $760.0K
YoY Change -23.66% 58.64% 10.14%
Interest Expense -$157.0K $999.6K -$350.0K
YoY Change -142.87% -41.08% 16.67%
% of Operating Profit -21.84% 25.17% -46.05%
Other Income/Expense, Net -$157.0K -$2.500M
YoY Change -39.59%
Pretax Income $561.7K $1.415M $410.0K
YoY Change -17.59% 155.75% -1466.67%
Income Tax $101.0K $196.8K $350.0K
% Of Pretax Income 17.98% 13.91% 85.37%
Net Earnings $460.7K $1.218M -$70.00K
YoY Change -14.18% -10764.44% -136.84%
Net Earnings / Revenue 8.62% 6.56% -1.8%
Basic Earnings Per Share $0.01 $0.03
Diluted Earnings Per Share $0.01 $0.03 -$1.769K
COMMON SHARES
Basic Shares Outstanding 40.41M
Diluted Shares Outstanding 42.24M 41.20M

Balance Sheet

Concept 2019 Q1 2018 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.594M $6.312M $3.490M
YoY Change 93.95% 81.05% 51.74%
Cash & Equivalents $6.594M $6.312M $3.581M
Short-Term Investments
Other Short-Term Assets $6.397K $513.6K $460.0K
YoY Change -97.94% 12.1% 70.37%
Inventory $621.9K $531.8K $524.1K
Prepaid Expenses $542.5K
Receivables $2.976M $2.850M $2.302M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $10.74M $10.21M $6.770M
YoY Change 57.23% 50.76% 31.5%
LONG-TERM ASSETS
Property, Plant & Equipment $843.5K $671.2K $263.9K
YoY Change 220.65% 5.28% -25.93%
Goodwill $1.091M $1.091M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $334.5K $334.5K $23.00K
YoY Change 1354.26% 31.87% -71.97%
Total Long-Term Assets $10.79M $10.99M $12.34M
YoY Change -9.79% -10.99% -10.96%
TOTAL ASSETS
Total Short-Term Assets $10.74M $10.21M $6.770M
Total Long-Term Assets $10.79M $10.99M $12.34M
Total Assets $21.54M $21.19M $19.11M
YoY Change 14.57% 10.88% 0.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.067M $681.9K $1.035M
YoY Change 158.57% -34.14% 124.15%
Accrued Expenses $838.0K $1.296M $887.8K
YoY Change 43.81% 45.93% -19.98%
Deferred Revenue $1.356M $1.084M
YoY Change 22.2%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.447M $1.471M $1.163M
YoY Change 27.36% 23.02% -3.02%
Total Short-Term Liabilities $4.894M $4.991M $4.869M
YoY Change 20.31% 2.49% 3.41%
LONG-TERM LIABILITIES
Long-Term Debt $8.310M $8.650M $7.420M
YoY Change 15.15% 16.35% -14.4%
Other Long-Term Liabilities $153.4K $96.18K $1.350M
YoY Change -88.55% -92.86% 40.63%
Total Long-Term Liabilities $8.464M $8.746M $7.420M
YoY Change 17.27% -0.41% -14.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.894M $4.991M $4.869M
Total Long-Term Liabilities $8.464M $8.746M $7.420M
Total Liabilities $13.36M $13.74M $13.65M
YoY Change 18.37% 0.62% -5.11%
SHAREHOLDERS EQUITY
Retained Earnings $1.466M
YoY Change -0.77%
Common Stock $3.997M
YoY Change 26.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.178M $7.457M $5.463M
YoY Change
Total Liabilities & Shareholders Equity $21.54M $21.19M $19.11M
YoY Change 14.55% 10.88% 0.54%

Cashflow Statement

Concept 2019 Q1 2018 2017 Q4
OPERATING ACTIVITIES
Net Income $460.7K $1.218M -$70.00K
YoY Change -14.18% -10764.44% -136.84%
Depreciation, Depletion And Amortization $473.5K $1.840M $450.0K
YoY Change 4.86% 4.14% 0.0%
Cash From Operating Activities $601.4K $4.293M $600.0K
YoY Change 777.7% 51.34% 17.65%
INVESTING ACTIVITIES
Capital Expenditures -$19.19K $69.79K $0.00
YoY Change -36.03% -169.36% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$19.19K -$102.8K $0.00
YoY Change -39.0% 2.21% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $356.6K $10.66M
YoY Change 17.74% 545.68%
Cash From Financing Activities -328.9K -1.440M -290.0K
YoY Change 5.77% -13.47% -3000.0%
NET CHANGE
Cash From Operating Activities 601.4K 4.293M 600.0K
Cash From Investing Activities -19.19K -102.8K 0.000
Cash From Financing Activities -328.9K -1.440M -290.0K
Net Change In Cash 282.7K 2.730M 310.0K
YoY Change -252.28% 129.08% -35.42%
FREE CASH FLOW
Cash From Operating Activities $601.4K $4.293M $600.0K
Capital Expenditures -$19.19K $69.79K $0.00
Free Cash Flow $620.6K $4.223M $600.0K
YoY Change 529.92% 43.78% 9.09%

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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;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:10pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;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:10pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We are an established global gaming company specializing in the design, development, assembly, marketing and acquisition of proprietary casino table games and associated technology, platforms and systems for the casino gaming industry. <font style="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 and riverboat gaming companies located in North America, the Caribbean, Central America, the British Isles, Europe and Africa and to cruise ship companies and internet gaming sites worldwide.&nbsp;&nbsp;</font></p>
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