$GNSS
Genasys Inc.

2020 Q3 Form 10-K Financial Statement

#000143774920025049 Filed on December 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 2019 Q3
Revenue $13.98M $43.01M $7.750M
YoY Change 80.39% 16.31% 134.85%
Cost Of Revenue $6.420M $20.37M $4.170M
YoY Change 53.96% 9.98% 85.33%
Gross Profit $7.560M $22.64M $3.570M
YoY Change 111.76% 22.66% 240.0%
Gross Profit Margin 54.08% 52.64% 46.06%
Selling, General & Admin $3.160M $12.04M $2.850M
YoY Change 10.88% 11.6% -5.94%
% of Gross Profit 41.8% 53.2% 79.83%
Research & Development $1.320M $4.554M $1.000M
YoY Change 32.0% 0.57% 16.28%
% of Gross Profit 17.46% 20.12% 28.01%
Depreciation & Amortization $180.0K $800.0K $200.0K
YoY Change -10.0% -3.03% 42.86%
% of Gross Profit 2.38% 3.53% 5.6%
Operating Expenses $4.490M $16.60M $3.850M
YoY Change 16.62% 8.34% -0.77%
Operating Profit $3.070M $6.041M -$280.0K
YoY Change -1196.43% 92.63% -90.11%
Interest Expense $80.00K $80.00K
YoY Change
% of Operating Profit 2.61% 1.32%
Other Income/Expense, Net -$150.0K $127.0K $90.00K
YoY Change -266.67% -42.53% 200.0%
Pretax Income $3.000M $6.168M -$180.0K
YoY Change -1766.67% 83.74% -93.71%
Income Tax -$6.450M -$5.706M -$100.0K
% Of Pretax Income -215.0% -92.51%
Net Earnings $9.450M $11.87M -$80.00K
YoY Change -11912.5% 326.36% -96.72%
Net Earnings / Revenue 67.6% 27.61% -1.03%
Basic Earnings Per Share $0.36
Diluted Earnings Per Share $272.1K $0.35 -$2.446K
COMMON SHARES
Basic Shares Outstanding 33.22M 32.59M
Diluted Shares Outstanding 34.09M

Balance Sheet

Concept 2020 Q3 2020 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.58M $27.58M $22.51M
YoY Change 22.52% 22.52% 53.55%
Cash & Equivalents $23.32M $23.32M $18.82M
Short-Term Investments $4.270M $4.270M $3.700M
Other Short-Term Assets $288.0K $1.140M $288.0K
YoY Change 0.0% -44.12% 17.72%
Inventory $5.949M $5.950M $5.835M
Prepaid Expenses
Receivables $5.442M $5.440M $3.644M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $40.12M $40.12M $34.04M
YoY Change 17.86% 17.86% 23.01%
LONG-TERM ASSETS
Property, Plant & Equipment $1.930M $7.220M $2.269M
YoY Change -14.94% 218.06% -7.34%
Goodwill $2.472M $2.306M
YoY Change 7.2% -5.72%
Intangibles $943.0K $1.176M
YoY Change -19.81% -24.49%
Long-Term Investments $3.810M $3.810M $1.380M
YoY Change 176.09% 176.09% 15.0%
Other Assets $11.62M $11.62M $5.950M
YoY Change 95.29% 95.29% -9.02%
Total Long-Term Assets $26.05M $26.05M $13.08M
YoY Change 99.13% 99.16% -7.81%
TOTAL ASSETS
Total Short-Term Assets $40.12M $40.12M $34.04M
Total Long-Term Assets $26.05M $26.05M $13.08M
Total Assets $66.17M $66.17M $47.12M
YoY Change 40.42% 40.43% 12.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.370M $1.370M $860.0K
YoY Change 59.3% 59.3% -72.11%
Accrued Expenses $7.880M $4.240M $8.134M
YoY Change -3.12% 73.06% 154.2%
Deferred Revenue $4.414M $5.572M
YoY Change -20.78%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $300.0K $300.0K $279.6K
YoY Change 7.3% 7.14% -5.73%
Total Short-Term Liabilities $10.32M $10.32M $9.274M
YoY Change 11.29% 11.33% 40.95%
LONG-TERM LIABILITIES
Long-Term Debt $18.00K $20.00K $32.90K
YoY Change -45.29% -33.33% -37.37%
Other Long-Term Liabilities $293.0K $6.690M $2.432M
YoY Change -87.95% 175.31% 39.82%
Total Long-Term Liabilities $311.0K $6.710M $2.465M
YoY Change -87.38% 172.76% 37.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.32M $10.32M $9.274M
Total Long-Term Liabilities $311.0K $6.710M $2.465M
Total Liabilities $17.03M $17.03M $11.74M
YoY Change 45.05% 45.06% 40.22%
SHAREHOLDERS EQUITY
Retained Earnings -$41.86M -$53.73M
YoY Change -22.1% -4.93%
Common Stock $0.00 $0.00
YoY Change -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $49.14M $49.14M $35.38M
YoY Change
Total Liabilities & Shareholders Equity $66.17M $66.17M $47.12M
YoY Change 40.42% 40.43% 12.56%

Cashflow Statement

Concept 2020 Q3 2020 2019 Q3
OPERATING ACTIVITIES
Net Income $9.450M $11.87M -$80.00K
YoY Change -11912.5% 326.36% -96.72%
Depreciation, Depletion And Amortization $180.0K $800.0K $200.0K
YoY Change -10.0% -3.03% 42.86%
Cash From Operating Activities $3.210M $6.918M $7.450M
YoY Change -56.91% -29.8% -927.78%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K $140.0K -$40.00K
YoY Change -25.0% -59.18% -91.3%
Acquisitions $0.00
YoY Change
Other Investing Activities -$690.0K -$3.000M -$600.0K
YoY Change 15.0% 1011.11% 1400.0%
Cash From Investing Activities -$710.0K -$3.135M -$640.0K
YoY Change 10.94% 413.93% 28.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $398.0K
YoY Change -81.67%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 140.0K $679.0K 650.0K
YoY Change -78.46% -145.72% -18.75%
NET CHANGE
Cash From Operating Activities 3.210M $6.918M 7.450M
Cash From Investing Activities -710.0K -$3.135M -640.0K
Cash From Financing Activities 140.0K $679.0K 650.0K
Net Change In Cash 2.640M $4.479M 7.460M
YoY Change -64.61% -41.91% -1343.33%
FREE CASH FLOW
Cash From Operating Activities $3.210M $6.918M $7.450M
Capital Expenditures -$30.00K $140.0K -$40.00K
Free Cash Flow $3.240M $6.778M $7.490M
YoY Change -56.74% -28.74% -1802.27%

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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="display: inline; font-family: times new roman; font-size: 10pt"><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="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: inherit;"> September&nbsp;</div><div style="display: inline; font-style: italic; font: inherit;">30,</div> <div style="display: inline; font-style: italic; font: inherit;">2020,</div> accounts receivable from <div style="display: inline; font-style: italic; font: inherit;">two</div> customers accounted for <div style="display: inline; font-style: italic; font: inherit;">36%</div> and <div style="display: inline; font-style: italic; font: inherit;">24%</div> of total accounts receivable with <div style="display: inline; font-style: italic; font: inherit;">no</div> other single customer accounting for more than <div style="display: inline; font-style: italic; font: inherit;">10%</div> of the accounts receivable balance. At <div style="display: inline; font-style: italic; font: inherit;"> September&nbsp;</div><div style="display: inline; font-style: italic; font: inherit;">30,</div> <div style="display: inline; font-style: italic; font: inherit;">2019,</div> accounts receivable from <div style="display: inline; font-style: italic; font: inherit;">two</div> customers accounted for <div style="display: inline; font-style: italic; font: inherit;">33%</div> and <div style="display: inline; font-style: italic; font: inherit;">11%</div> of total accounts receivable with <div style="display: inline; font-style: italic; font: inherit;">no</div> other single customer accounting for more than <div style="display: inline; font-style: italic; font: inherit;">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: inherit;"> 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: inherit;">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'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: inherit;">one</div> issue, issuer or type of instrument. It is generally the Company's policy to invest in instruments that have a final maturity of <div style="display: inline; font-style: italic; font: inherit;">no</div> longer than <div style="display: inline; font-style: italic; font: inherit;">three</div> years, with a portfolio weighted average maturity of <div style="display: inline; font-style: italic; font: inherit;">no</div> longer than <div style="display: inline; font-style: italic; font: inherit;">18</div> months.</div></div></div></div></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: inherit;">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;">Genasys Inc. (formerly LRAD<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline; vertical-align:top;line-height:120%;font-size:pt">&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's proprietary sound reproduction technologies, voice broadcast products and mass messaging solutions are in North and South America, Europe, Middle East and Asia.</div></div>
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CY2020Q3 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
125000
CY2019Q3 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
124000
CY2020Q3 us-gaap Prepaid Insurance
PrepaidInsurance
264000
CY2019Q3 us-gaap Prepaid Insurance
PrepaidInsurance
194000
CY2020Q3 us-gaap Prepaid Rent
PrepaidRent
CY2019Q3 us-gaap Prepaid Rent
PrepaidRent
88000
CY2020 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="display: inline; font-family: times new roman; font-size: 10pt"><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="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> <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's information has been reclassified to conform to the fiscal year <div style="display: inline; font-style: italic; font: inherit;">2020</div> statement presentation. These reclassifications had <div style="display: inline; font-style: italic; font: inherit;">no</div> effect on previously reported results of operations or accumulated deficit.</div></div></div></div></div></div></div>
CY2020 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
5061000
CY2019 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
4228000
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1136000
CY2019 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
703000
CY2020Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
126000
CY2019Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
150000
CY2018Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
99000
CY2020Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
126000
CY2019Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
150000
CY2020 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
40000
CY2019 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
34000
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4429000
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4749000
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
677000
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
698000
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
282000
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
263000
CY2020 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: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">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's fair value. There was <div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">no</div></div> impairment of long-lived assets for the years ended <div style="display: inline; font-style: italic; font: inherit;"> September 30, 2020 </div>and <div style="display: inline; font-style: italic; font: inherit;"> September 30, 2019. </div>Refer to&nbsp;Note <div style="display: inline; font-style: italic; font: inherit;">8,</div> Goodwill and Intangible Assets for information related to long-lived assets.</div></div></div>
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1930000
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2269000
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4000
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-23000
CY2020 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
17000
CY2019 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
17000
CY2020 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4554000
CY2019 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4528000
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
395000
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
435000
CY2020Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
282000
CY2019Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
263000
CY2020Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
395000
CY2019Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
435000
CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-41858000
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-53732000
CY2020 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
43010000
CY2019 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
36979000
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
4707000
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
4414000
CY2020Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2020Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.94
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
44000
CY2020 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
12044000
CY2019 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10792000
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
980000
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
735000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.445
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.014
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1110789
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.03
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2578000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
638000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
110671
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
2.11
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
1133727
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
9551000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2219268
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2659305
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.94
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.56
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.95
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.39
CY2020Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
1110789
CY2020Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
2659305
CY2020Q3 us-gaap Share Price
SharePrice
6.15
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P7Y
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y127D
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
4575000
CY2020Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
2.03
CY2020Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
2.56
CY2020 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P4Y131D
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
CY2019 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
CY2020 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
198106
CY2019 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
156115
CY2020 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
583019
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
406151
CY2019 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
CY2020 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
CY2019 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
757000
CY2020 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1136000
CY2019 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
2171000
CY2020 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
398000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
49140000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
35381000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
33488000
CY2020Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020 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="display: inline; font-family: times new roman; font-size: 10pt"><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="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></div></div></div></div>
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34092328
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33397095
CY2020 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
33220915
CY2019 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
32689028
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33220915
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32689028

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