2024 Q3 Form 10-Q Financial Statement

#000143774924026159 Filed on August 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q4
Revenue $4.524M $6.111M $4.702M
YoY Change 34.4% 61.68% 93.64%
Cost Of Revenue $1.571M $2.120M $2.029M
YoY Change 5.39% 36.8% 91.5%
Gross Profit $2.953M $3.990M $2.673M
YoY Change 57.46% 78.98% 95.29%
Gross Profit Margin 65.27% 65.3% 56.84%
Selling, General & Admin $3.056M $2.774M $2.504M
YoY Change 8.1% -7.75% 0.34%
% of Gross Profit 103.5% 69.53% 93.71%
Research & Development $2.507M $2.413M $2.268M
YoY Change -9.69% -9.06% 3.18%
% of Gross Profit 84.9% 60.46% 84.86%
Depreciation & Amortization $348.2K
YoY Change -23.8%
% of Gross Profit 13.03%
Operating Expenses $5.562M $5.187M $4.773M
YoY Change -0.71% -8.36% 1.67%
Operating Profit -$2.610M -$1.197M -$2.100M
YoY Change -29.98% -65.12% -36.86%
Interest Expense -$856.5K -$1.537M
YoY Change 120.16% 246.69%
% of Operating Profit
Other Income/Expense, Net -$4.592M -$560.0K -$26.26K
YoY Change 509.2% 43.48% -247.94%
Pretax Income -$3.663M
YoY Change -2.35%
Income Tax
% Of Pretax Income
Net Earnings -$7.202M -$1.757M -$3.663M
YoY Change 60.03% -53.77% -2.35%
Net Earnings / Revenue -159.2% -28.75% -77.9%
Basic Earnings Per Share -$0.71 -$0.17
Diluted Earnings Per Share -$0.46
COMMON SHARES
Basic Shares Outstanding 10.12M 10.01M 7.890M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $781.3K
YoY Change -82.0%
Cash & Equivalents $11.28M $641.4K $781.3K
Short-Term Investments
Other Short-Term Assets $458.3K
YoY Change -28.77%
Inventory $1.917M $1.663M $1.534M
Prepaid Expenses $214.0K $410.4K $458.3K
Receivables $1.823M $2.144M $2.079M
Other Receivables $0.00
Total Short-Term Assets $15.23M $4.859M $4.852M
YoY Change 233.8% 2.51% -37.64%
LONG-TERM ASSETS
Property, Plant & Equipment $2.870M $3.042M $3.659M
YoY Change -30.66% -37.7% -28.23%
Goodwill
YoY Change
Intangibles $355.8K $354.8K $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change -100.0%
Total Long-Term Assets $12.93M $13.37M $14.16M
YoY Change -14.49% -15.3% 59.41%
TOTAL ASSETS
Total Short-Term Assets $15.23M $4.859M $4.852M
Total Long-Term Assets $12.93M $13.37M $14.16M
Total Assets $28.16M $18.23M $19.01M
YoY Change 43.05% -11.19% 14.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.100M
YoY Change -52.99%
Accrued Expenses $746.0K
YoY Change 433.64%
Deferred Revenue
YoY Change
Short-Term Debt $1.629M
YoY Change 69.69%
Long-Term Debt Due $12.71M
YoY Change 1078.14%
Total Short-Term Liabilities $11.26M $5.482M $17.34M
YoY Change -15.73% -8.41% 160.96%
LONG-TERM LIABILITIES
Long-Term Debt $2.293M
YoY Change -69.81%
Other Long-Term Liabilities $6.177M
YoY Change 8513.18%
Total Long-Term Liabilities $8.469M
YoY Change 10.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.26M $5.482M $17.34M
Total Long-Term Liabilities $8.469M
Total Liabilities $23.00M $23.60M $25.81M
YoY Change -0.92% 9.6% 80.35%
SHAREHOLDERS EQUITY
Retained Earnings -$55.37M -$48.17M -$43.00M
YoY Change 40.53% 38.02% 58.67%
Common Stock $1.021K $1.006K $789.00
YoY Change 29.4% 48.16% -78.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$14.87M -$5.377M -$6.796M
YoY Change
Total Liabilities & Shareholders Equity $28.16M $18.23M $19.01M
YoY Change 43.05% -11.19% 14.09%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income -$7.202M -$1.757M -$3.663M
YoY Change 60.03% -53.77% -2.35%
Depreciation, Depletion And Amortization $348.2K
YoY Change -23.8%
Cash From Operating Activities -$2.276M
YoY Change -30.35%
INVESTING ACTIVITIES
Capital Expenditures -$36.76K
YoY Change -96.47%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $36.76K
YoY Change -96.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.144M
YoY Change -52.5%
NET CHANGE
Cash From Operating Activities -2.276M
Cash From Investing Activities 36.76K
Cash From Financing Activities 2.144M
Net Change In Cash -95.58K
YoY Change -104.18%
FREE CASH FLOW
Cash From Operating Activities -$2.276M
Capital Expenditures -$36.76K
Free Cash Flow -$2.239M
YoY Change 0.51%

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b><em style="font: inherit;">1.</em> ORGANIZATION AND NATURE OF BUSINESS</b></p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><span style="background-color:#ffffff;">Guerrilla RF, Inc. (formerly known as Laffin Acquisition Corp., the “Company”) was incorporated in the State of Delaware on <em style="font: inherit;"> November 9, 2020.  </em>On <em style="font: inherit;"> October </em><em style="font: inherit;">22,</em> <em style="font: inherit;">2021,</em> the Company's wholly-owned subsidiary, Guerrilla RF Acquisition Corp., a corporation formed in the State of Delaware on <em style="font: inherit;"> October </em><em style="font: inherit;">20,</em> <em style="font: inherit;">2021</em> (“Acquisition Sub”) and privately held Guerrilla RF Operating Corporation (formerly known as Guerrilla RF, Inc.) entered into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”).  Pursuant to the terms of the Merger Agreement, on <em style="font: inherit;"> October </em><em style="font: inherit;">22,</em> <em style="font: inherit;">2021</em> (the “Closing Date”), Acquisition Sub merged with and into Guerrilla RF Operating Corporation with Guerrilla RF Operating Corporation continuing as the surviving corporation and a wholly-owned subsidiary of the Company (the “Merger”).  On <em style="font: inherit;"> May 30, 2023, </em>Guerrilla RF Operating Corporation was merged with and into Guerrilla RF, Inc.</span></p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Prior to the Merger, Laffin Acquisition Corp. was a “shell” company registered under the Securities Exchange Act of <em style="font: inherit;">1934,</em> as amended (the “Exchange Act”), with <em style="font: inherit;">no</em> specific business plan or purpose until it began operating the business of Guerrilla RF Operating Corporation following the closing of the Merger.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"><span style="background-color:#ffffff;">All references in these unaudited interim condensed consolidated financial statements and related Quarterly Report to “Guerrilla RF” refer to: (i) for periods prior to <em style="font: inherit;"> May 30, 2023, </em>Guerrilla RF Operating Corporation; and (ii) for subsequent periods, Guerrilla RF, Inc.  Unless otherwise stated or the context otherwise indicates, references to the “Company”, “we”, “our”, “us” or similar terms refer to Guerrilla RF, Inc.</span></p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Guerrilla RF designs and manufactures high‐performance Monolithic Microwave Integrated Circuits (MMICs) for the wireless infrastructure market.  Guerrilla RF primarily focuses on researching and developing its existing products and building an infrastructure to handle a global distribution network; therefore, it has incurred significant start‐up losses. </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: left;"></p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b><span style="background-color:#ffffff;">Risks and Uncertainties</span></b></p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The Company is subject to several risks associated with companies at a similar stage, including dependence on key individuals, competition from similar products and larger companies, volatility of the industry, ability to obtain adequate financing to support growth, the ability to attract and retain additional qualified personnel to manage the anticipated growth of the Company, and general economic conditions including the current macro-economic conditions impacting the banking and financial markets.</p>
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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -1pt; text-indent: 0pt; text-align: justify;"><b>Use of Estimates</b></p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The preparation of our unaudited interim condensed consolidated financial statements requires management to make estimates and assumptions that affect the amounts reported in our condensed consolidated financial statements and related disclosures.  The preparation of the unaudited interim condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the unaudited interim condensed consolidated financial statements, and reported amounts of revenue and expenses during the reporting period.  The Company’s significant estimates and judgments involve the valuation of share-based compensation, and the valuation of equity financing.  Accordingly, actual results could differ from those estimates.</p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"> </p>
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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -1pt; text-indent: 0pt; text-align: justify;"><b>Reclassifications</b></p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Certain prior period balance sheet and cash flow amounts have been reclassified to conform to the Company's fiscal <em style="font: inherit;">2024</em> presentation.  These reclassifications have <em style="font: inherit;">no</em> impact on the Company's previously reported net loss.</p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p>
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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>Concentrations of Credit Risk and Major Customers</b></p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Financial instruments at <em style="font: inherit;"> June 30, 2024, </em>and <em style="font: inherit;"> December 31, 2023 </em>that potentially subject the Company to concentration of credit risk consist primarily of cash and accounts receivable.  The Company’s cash is deposited with major financial institutions in the U.S.  At times, deposits in financial institutions located in the U.S. <em style="font: inherit;"> may </em>be in excess of the amount of insurance provided on such deposits by the Federal Deposit Insurance Corporation (FDIC).  To date, the Company has <em style="font: inherit;">not</em> experienced any losses on its cash deposits.</p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The Company’s accounts receivable are derived from revenue earned from customers located inside and outside of the U.S.  Major customers are defined as those generating revenue in excess of<span style="background-color:#ffffff;"> <em style="font: inherit;">10%</em> of</span> the Company’s aggregate annual revenue.  The Company had<span style="font-family: &quot;Times New Roman&quot;; font-size: 10pt;"><span style="background-color:#ffffff;"><span style="-sec-ix-hidden:c116106579"><span style="-sec-ix-hidden:c116106580">one</span></span> </span></span><span style="background-color:#ffffff;">major distributor customer, </span>Richardson RFPD, Inc. ("RFPD").  <span style="background-color:#ffffff">RFPD, a large product distributor serving numerous end-user customers,</span> <span style="background-color: rgb(255, 255, 255); font-family: Times New Roman; font-size: 10pt;">accounted</span><span style="font-family: &quot;Times New Roman&quot;; font-size: 10pt;"><span style="background-color:#ffffff;"> for 80% and 82</span></span><span style="font-family: &quot;Times New Roman&quot;; font-size: 10pt;"><span style="background-color:#ffffff;">% of product shipment revenue</span></span><span style="font-family: &quot;Times New Roman&quot;; font-size: 10pt;"><span style="background-color:#ffffff;"> for the <em style="font: inherit;">six</em> months ended <em style="font: inherit;"> June 30, 2024 </em>and <em style="font: inherit;">2023,</em> respectively.  Accounts receivable from RFPD represented 55</span></span><span style="font-family: &quot;Times New Roman&quot;; font-size: 10pt;"><span style="background-color:#ffffff;">% and 81% of accounts receivable at <em style="font: inherit;"> June 30, 2024 </em>and <em style="font: inherit;"> December 31, 2023,</em></span></span><span style="font-family: &quot;Times New Roman&quot;; font-size: 10pt;"><span style="background-color:#ffffff;"> r</span></span><span style="background-color: rgb(255, 255, 255); font-family: Times New Roman; font-size: 10pt;">espectively.  </span></p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p>
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2.5
CY2024Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
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2950
CY2024Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.03
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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-0
CY2024Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
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576298
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.63
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y6M14D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
522291
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.42
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y6M29D
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
400000 usd
CY2024Q2 guer Sharebased Payment Arrangement Granted Award Option Cost Not Yet Recognized Amount
SharebasedPaymentArrangementGrantedAwardOptionCostNotYetRecognizedAmount
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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0 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
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CY2024Q2 us-gaap Derivative Liabilities
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9916247 usd
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CY2024Q2 us-gaap Operating Lease Liability Noncurrent
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CY2024Q2 us-gaap Finance Lease Right Of Use Asset
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FinanceLeaseLiabilityCurrent
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CY2024Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
1221683 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
2092131 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
949552 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
728634 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
531939 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
630987 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
87514 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
135338 usd
guer Finance Lease Cost
FinanceLeaseCost
619453 usd
guer Finance Lease Cost
FinanceLeaseCost
766325 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y4M2D
CY2024Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y7M9D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1103 pure
CY2024Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0766 pure
us-gaap Operating Lease Payments
OperatingLeasePayments
764256 usd
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
86584 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
480445 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
695723 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1233668 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1056589 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1076140 usd
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CY2024Q2 guer Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
10048475 usd
CY2024Q2 guer Lessee Operating Lease Liability Undiscounted Excess Amount Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityUndiscountedExcessAmountRemainderOfFiscalYear
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CY2024Q2 guer Lessee Operating Lease Liability Undiscounted Excess Amount Year One
LesseeOperatingLeaseLiabilityUndiscountedExcessAmountYearOne
635214 usd
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524555 usd
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460933 usd
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CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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3525074 usd
CY2024Q2 guer Operating Lease Liability Remainder Of Fiscal Year
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CY2024Q2 guer Operating Lease Liability Year One
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CY2024Q2 us-gaap Operating Lease Liability
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CY2024Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
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CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
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CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Three
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CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Four
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CY2024Q2 guer Finance Lease Liability To Be Paid After Year Four
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CY2024Q2 us-gaap Finance Lease Liability Payments Due
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CY2024Q2 guer Finance Lease Liability Undiscounted Excess Amount Remainder Of Fiscal Year
FinanceLeaseLiabilityUndiscountedExcessAmountRemainderOfFiscalYear
71443 usd
CY2024Q2 guer Finance Lease Liability Undiscounted Excess Amount Next Twelve Months
FinanceLeaseLiabilityUndiscountedExcessAmountNextTwelveMonths
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CY2024Q2 guer Finance Lease Liability Undiscounted Excess Amount Year Two
FinanceLeaseLiabilityUndiscountedExcessAmountYearTwo
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CY2024Q2 guer Finance Lease Liability Undiscounted Excess Amount Year Three
FinanceLeaseLiabilityUndiscountedExcessAmountYearThree
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CY2024Q2 guer Finance Lease Liability Undiscounted Excess Amount Year Four
FinanceLeaseLiabilityUndiscountedExcessAmountYearFour
3787 usd
CY2024Q2 guer Finance Lease Liability Undiscounted Excess Amount After Year Four
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143 usd
CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
230510 usd
CY2024Q2 guer Finance Lease Liability Remainder Of Fiscal Year
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496515 usd
CY2024Q2 guer Finance Lease Liability Year One
FinanceLeaseLiabilityYearOne
717538 usd
CY2024Q2 guer Finance Lease Liability Year Two
FinanceLeaseLiabilityYearTwo
676037 usd
CY2024Q2 guer Finance Lease Liability Year Three
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145605 usd
CY2024Q2 guer Finance Lease Liability Year Four
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CY2024Q2 guer Finance Lease Liability After Year Four
FinanceLeaseLiabilityAfterYearFour
10559 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
2092131 usd
CY2023Q1 guer Lessee Operating Lease Lease Not Yet Commenced Annual Lease Expense
LesseeOperatingLeaseLeaseNotYetCommencedAnnualLeaseExpense
1500000 usd
CY2024Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2024Q2 us-gaap Unrecognized Tax Benefits
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0 usd
us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.04 pure
CY2023Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
105284 usd

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