$GNSS
Genasys Inc.

2019 Q3 Form 10-K Financial Statement

#000143774919024099 Filed on December 10, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 2018 Q3
Revenue $7.750M $36.98M $3.300M
YoY Change 134.85% 40.57% -56.0%
Cost Of Revenue $4.170M $18.52M $2.250M
YoY Change 85.33% 36.53% -27.18%
Gross Profit $3.570M $18.46M $1.050M
YoY Change 240.0% 44.87% -76.19%
Gross Profit Margin 46.06% 49.91% 31.82%
Selling, General & Admin $2.850M $10.79M $3.030M
YoY Change -5.94% 0.93% 12.64%
% of Gross Profit 79.83% 58.47% 288.57%
Research & Development $1.000M $4.528M $860.0K
YoY Change 16.28% 28.51% 34.38%
% of Gross Profit 28.01% 24.53% 81.9%
Depreciation & Amortization $200.0K $825.0K $140.0K
YoY Change 42.86% 70.78% 133.33%
% of Gross Profit 5.6% 4.47% 13.33%
Operating Expenses $3.850M $15.32M $3.880M
YoY Change -0.77% 7.76% 16.52%
Operating Profit -$280.0K $3.136M -$2.830M
YoY Change -90.11% -312.4% -362.04%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $90.00K $221.0K $30.00K
YoY Change 200.0% 106.5% 0.0%
Pretax Income -$180.0K $3.357M -$2.860M
YoY Change -93.71% -345.14% -355.36%
Income Tax -$100.0K $572.0K -$4.670M
% Of Pretax Income 17.04%
Net Earnings -$80.00K $2.785M -$2.440M
YoY Change -96.72% -174.36% -1535.29%
Net Earnings / Revenue -1.03% 7.53% -73.94%
Basic Earnings Per Share $0.09
Diluted Earnings Per Share -$2.446K $0.08 -$73.87K
COMMON SHARES
Basic Shares Outstanding 32.59M 32.69M
Diluted Shares Outstanding 33.40M

Balance Sheet

Concept 2019 Q3 2019 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.51M $22.51M $14.66M
YoY Change 53.55% 53.55% -14.37%
Cash & Equivalents $18.82M $18.82M $11.06M
Short-Term Investments $3.700M $3.700M $3.590M
Other Short-Term Assets $288.0K $2.040M $244.6K
YoY Change 17.72% -41.55% 39.58%
Inventory $5.835M $5.840M $6.734M
Prepaid Expenses $93.75K
Receivables $3.644M $3.640M $2.786M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $34.04M $34.04M $27.67M
YoY Change 23.01% 23.02% -4.74%
LONG-TERM ASSETS
Property, Plant & Equipment $2.269M $2.270M $2.449M
YoY Change -7.34% -7.35% 380.52%
Goodwill $2.306M $2.446M
YoY Change -5.72%
Intangibles $1.176M $1.557M
YoY Change -24.49% 2696.51%
Long-Term Investments $1.380M $1.380M $1.200M
YoY Change 15.0% 15.0% 69.01%
Other Assets $5.950M $5.950M $6.540M
YoY Change -9.02% -9.02% -23.33%
Total Long-Term Assets $13.08M $13.08M $14.19M
YoY Change -7.81% -7.82% 44.63%
TOTAL ASSETS
Total Short-Term Assets $34.04M $34.04M $27.67M
Total Long-Term Assets $13.08M $13.08M $14.19M
Total Assets $47.12M $47.12M $41.86M
YoY Change 12.56% 12.57% 7.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $860.0K $860.0K $3.083M
YoY Change -72.11% -72.08% 177.19%
Accrued Expenses $8.134M $2.450M $3.200M
YoY Change 154.2% -1.61% 24.93%
Deferred Revenue $5.572M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $279.6K $280.0K $296.6K
YoY Change -5.73% -6.67%
Total Short-Term Liabilities $9.274M $9.270M $6.580M
YoY Change 40.95% 40.88% 79.1%
LONG-TERM LIABILITIES
Long-Term Debt $32.90K $30.00K $52.54K
YoY Change -37.37% -40.0%
Other Long-Term Liabilities $2.432M $2.430M $1.739M
YoY Change 39.82% 39.66%
Total Long-Term Liabilities $2.465M $2.460M $1.792M
YoY Change 37.55% 37.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.274M $9.270M $6.580M
Total Long-Term Liabilities $2.465M $2.460M $1.792M
Total Liabilities $11.74M $11.74M $8.372M
YoY Change 40.22% 40.26% 127.88%
SHAREHOLDERS EQUITY
Retained Earnings -$53.73M -$56.52M
YoY Change -4.93% 7.1%
Common Stock $0.00 $332.00
YoY Change -100.0% 3.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $35.38M $35.38M $33.49M
YoY Change
Total Liabilities & Shareholders Equity $47.12M $47.12M $41.86M
YoY Change 12.56% 12.57% 7.73%

Cashflow Statement

Concept 2019 Q3 2019 2018 Q3
OPERATING ACTIVITIES
Net Income -$80.00K $2.785M -$2.440M
YoY Change -96.72% -174.36% -1535.29%
Depreciation, Depletion And Amortization $200.0K $825.0K $140.0K
YoY Change 42.86% 70.78% 133.33%
Cash From Operating Activities $7.450M $9.855M -$900.0K
YoY Change -927.78% 687.25% -45.78%
INVESTING ACTIVITIES
Capital Expenditures -$40.00K $343.0K -$460.0K
YoY Change -91.3% -45.19%
Acquisitions
YoY Change
Other Investing Activities -$600.0K -$270.0K -$40.00K
YoY Change 1400.0% -87.5% -20.0%
Cash From Investing Activities -$640.0K -$610.0K -$500.0K
YoY Change 28.0% -78.12% 900.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.171M
YoY Change 199.26%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 650.0K -1.485M 800.0K
YoY Change -18.75% -348.79% 515.38%
NET CHANGE
Cash From Operating Activities 7.450M 9.855M -900.0K
Cash From Investing Activities -640.0K -610.0K -500.0K
Cash From Financing Activities 650.0K -1.485M 800.0K
Net Change In Cash 7.460M 7.711M -600.0K
YoY Change -1343.33% -872.79% -62.03%
FREE CASH FLOW
Cash From Operating Activities $7.450M $9.855M -$900.0K
Capital Expenditures -$40.00K $343.0K -$460.0K
Free Cash Flow $7.490M $9.512M -$440.0K
YoY Change -1802.27% 1419.55% -73.49%

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">CONCENTRATION OF CREDIT RISK </div></div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:24.5pt;">The Company sells its products to a large number of geographically diverse customers. The Company routinely assesses the financial strength of its customers. It is customary for the Company to require a deposit as collateral. At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019,</div> accounts receivable from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> customers accounted for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33%</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11%</div> of total accounts receivable with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> other single customer accounting for more than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10%</div> of the accounts receivable balance. At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018,</div> accounts receivable from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> customers accounted for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12%</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11%</div> of total accounts receivable with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> other single customer accounting for more than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10%</div> of the accounts receivable balance.</div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:24.5pt;">The Company maintains cash and cash equivalent bank deposit accounts which, at times, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>exceed federally insured limits guaranteed by the Federal Deposit Insurance Corporation (&#x201c;FDIC&#x201d;). The Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> experienced any losses in such accounts. The Company limits its exposure to credit loss by depositing its cash with high credit quality financial institutions. The Company also invests cash in instruments that meet high credit quality standards, as specified in the Company&#x2019;s policy guidelines such as money market funds, corporate bonds, municipal bonds and Certificates of Deposit. These guidelines also limit the amount of credit exposure to any <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> issue, issuer or type of instrument. It is generally the Company&#x2019;s policy to invest in instruments that have a final maturity of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> longer than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> years, with a portfolio weighted average maturity of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> longer than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div> months.</div></div></div>
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.</div> OPERATIONS </div></div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:24.5pt;">LRAD<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">&reg;</div> Corporation, a Delaware corporation (the &#x201c;Company&#x201d;), is engaged in the design, development and commercialization of directed and multidirectional sound technologies, voice broadcast products, and location-based mass messaging solutions for emergency warning and workforce management. The principal markets for the Company&#x2019;s proprietary sound reproduction technologies, voice broadcast products and mass messaging solutions are in North and South America, Europe, Middle East and Asia. On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 23, 2019, </div>the Company announced that it was rebranding and began doing business as Genasys Inc.&nbsp;</div></div>
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CY2018Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3091401
CY2019Q3 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
123933
CY2018Q3 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
241365
CY2019Q3 us-gaap Prepaid Insurance
PrepaidInsurance
194285
CY2018Q3 us-gaap Prepaid Insurance
PrepaidInsurance
162822
CY2019Q3 us-gaap Prepaid Rent
PrepaidRent
87782
CY2018Q3 us-gaap Prepaid Rent
PrepaidRent
CY2019 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">RECLASSIFICATIONS</div><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:24.5pt;">Where necessary, the prior year&#x2019;s information has been reclassified to conform to the fiscal year <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019</div> statement presentation. These reclassifications had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> effect on previously reported results of operations or accumulated deficit.</div></div></div>
CY2019 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
CY2018 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
62656
CY2019 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
4228068
CY2018 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
5190821
CY2018 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2434888
CY2019 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
703313
CY2019Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
150229
CY2018Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
99216
CY2017Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
104518
CY2019Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
150229
CY2018Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
99216
CY2019 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
34065
CY2018 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
11395
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4583528
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4423422
CY2019 us-gaap Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">IMPAIRMENT OF LONG-LIVED ASSETS </div></div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:24.5pt;">Long-lived assets and identifiable intangibles held for use are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be recoverable. If the sum of undiscounted expected future cash flows is less than the carrying amount of the asset, or if changes in facts and circumstances indicate this, an impairment loss is measured and recognized using the asset&#x2019;s fair value. There was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> impairment of long-lived assets for the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2019. </div>During the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2018, </div>the Company determined that certain patents were impaired. The impaired patents related to products <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> longer sold by the Company and totaled <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$11,133.</div> Refer to Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,</div> Fair Value Measurements and Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,</div> Goodwill and Intangible Assets for information related to impairment of long-lived assets.</div></div></div>
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2269506
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2448725
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-23407
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
150000
CY2019 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
17044
CY2018 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
1175205
CY2019 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4527741
CY2018 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3523498
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
697840
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
742983
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
263136
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
403427
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
434704
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
339556
CY2019Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
263136
CY2018Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
403427
CY2019Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
434704
CY2018Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
339556
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-53731903
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-56516895
CY2019 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
36979055
CY2018 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
26306790
CY2019Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
6122498
CY2019Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
5571613
CY2019Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10792401
CY2018 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10692681
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
735003
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
584873
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.454
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0218
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1405578
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.93
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
638140
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
752729
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
769439
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
2.99
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.89
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3107958
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3394858
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2219268
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.18
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.94
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.86
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2019Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
1405578
CY2019Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
2219268
CY2019Q3 us-gaap Share Price
SharePrice
3.35
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P7Y
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y219D
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1985062
CY2019Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
1.94
CY2019Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
1.95
CY2019 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P3Y142D
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1179456
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
406151
CY2018 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
1
CY2019 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
CY2018 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2434887
CY2019 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
756513
CY2018 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
725445
CY2019 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
2171022
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
35381349
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
33489207
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
35184039
CY2019Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">USE OF ESTIMATES </div></div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:24.5pt;">The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions (e.g., share-based compensation valuation, allowance for doubtful accounts, valuation of inventory and intangible assets, warranty reserve, accrued bonus and valuation allowance related to deferred tax assets) that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and affect the reported amounts of revenues and expenses during the reporting periods. Actual results could materially differ from those estimates.</div></div></div>
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33397095
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32492645
CY2019 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
32689028
CY2018 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
32492645
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32689028
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32492645

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