$GNSS
Genasys Inc.

2019 Q4 Form 10-Q Financial Statement

#000143774920002201 Filed on February 11, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4
Revenue $8.782M $10.18M
YoY Change -13.71% 33.41%
Cost Of Revenue $4.180M $5.088M
YoY Change -17.85% 38.61%
Gross Profit $4.602M $5.089M
YoY Change -9.57% 28.6%
Gross Profit Margin 52.4% 50.0%
Selling, General & Admin $2.822M $2.751M
YoY Change 2.58% 25.71%
% of Gross Profit 61.32% 54.06%
Research & Development $1.084M $1.048M
YoY Change 3.4% 34.75%
% of Gross Profit 23.55% 20.6%
Depreciation & Amortization $209.0K $201.3K
YoY Change 3.84% 234.86%
% of Gross Profit 4.54% 3.95%
Operating Expenses $3.906M $3.799M
YoY Change 2.81% 28.08%
Operating Profit $696.0K $1.290M
YoY Change -46.04% 30.15%
Interest Expense $172.4K $283.0K
YoY Change -39.09% -89.55%
% of Operating Profit 24.77% 21.94%
Other Income/Expense, Net $96.00K $39.07K
YoY Change 145.73% 13.14%
Pretax Income $792.0K $1.329M
YoY Change -40.4% 29.57%
Income Tax $172.0K $283.0K
% Of Pretax Income 21.72% 21.3%
Net Earnings $620.0K $1.046M
YoY Change -40.72% -162.14%
Net Earnings / Revenue 7.06% 10.28%
Basic Earnings Per Share $0.02 $0.03
Diluted Earnings Per Share $0.02 $0.03
COMMON SHARES
Basic Shares Outstanding 32.98M 32.90M
Diluted Shares Outstanding 33.71M 33.57M

Balance Sheet

Concept 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.27M $8.200M
YoY Change 159.39% -56.2%
Cash & Equivalents $17.09M $4.416M
Short-Term Investments $4.180M $3.780M
Other Short-Term Assets $223.9K $230.3K
YoY Change -2.75% -60.97%
Inventory $6.062M $8.709M
Prepaid Expenses
Receivables $5.937M $8.699M
Other Receivables $0.00 $180.0K
Total Short-Term Assets $34.57M $26.96M
YoY Change 28.21% -10.87%
LONG-TERM ASSETS
Property, Plant & Equipment $2.222M $2.363M
YoY Change -5.95% 367.47%
Goodwill $2.364M $2.413M
YoY Change -2.0%
Intangibles $1.129M $1.460M
YoY Change -22.63% 2608.68%
Long-Term Investments $950.0K $900.0K
YoY Change 5.56% -10.89%
Other Assets $5.730M $6.250M
YoY Change -8.32% 8.89%
Total Long-Term Assets $18.08M $13.39M
YoY Change 35.04% 83.3%
TOTAL ASSETS
Total Short-Term Assets $34.57M $26.96M
Total Long-Term Assets $18.08M $13.39M
Total Assets $52.65M $40.35M
YoY Change 30.48% 7.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.468M $3.013M
YoY Change -51.26% 58.33%
Accrued Expenses $6.328M $2.080M
YoY Change 204.3% 11.89%
Deferred Revenue $4.816M $526.0K
YoY Change 815.62%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $286.7K $292.6K
YoY Change -2.0%
Total Short-Term Liabilities $8.799M $5.385M
YoY Change 63.39% 43.23%
LONG-TERM LIABILITIES
Long-Term Debt $33.74K $51.64K
YoY Change -34.67%
Other Long-Term Liabilities $490.8K $1.916M
YoY Change -74.39%
Total Long-Term Liabilities $524.5K $1.968M
YoY Change -73.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.799M $5.385M
Total Long-Term Liabilities $524.5K $1.968M
Total Liabilities $16.26M $7.353M
YoY Change 121.1% 95.48%
SHAREHOLDERS EQUITY
Retained Earnings -$53.11M -$55.47M
YoY Change -4.25% 1.87%
Common Stock $331.00 $326.00
YoY Change 1.53% 1.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $36.39M $33.00M
YoY Change
Total Liabilities & Shareholders Equity $52.65M $40.35M
YoY Change 30.48% 7.45%

Cashflow Statement

Concept 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income $620.0K $1.046M
YoY Change -40.72% -162.14%
Depreciation, Depletion And Amortization $209.0K $201.3K
YoY Change 3.84% 234.86%
Cash From Operating Activities -$1.781M -$5.094M
YoY Change -65.04% -390.48%
INVESTING ACTIVITIES
Capital Expenditures $86.00K $38.81K
YoY Change 121.58% -28.35%
Acquisitions
YoY Change
Other Investing Activities -$50.00K $110.0K
YoY Change -145.45% -75.56%
Cash From Investing Activities -$137.0K $69.67K
YoY Change -296.65% -82.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $1.621M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 144.0K -1.618M
YoY Change -108.9% -1114.62%
NET CHANGE
Cash From Operating Activities -1.781M -5.094M
Cash From Investing Activities -137.0K 69.67K
Cash From Financing Activities 144.0K -1.618M
Net Change In Cash -1.760M -6.652M
YoY Change -73.54% -387.53%
FREE CASH FLOW
Cash From Operating Activities -$1.781M -$5.094M
Capital Expenditures $86.00K $38.81K
Free Cash Flow -$1.867M -$5.133M
YoY Change -63.63% -402.03%

Facts In Submission

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.</div> </div></div> </td> <td> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">OPERATIONS </div></div> </td> </tr> </table> <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;">Genasys Inc. (formerly 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 its rebranding and began doing business as Genasys Inc.</div></div>
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