$GVP
GSE Systems Inc

2022 Q1 Form 10-Q Financial Statement

#000114036122019424 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $12.28M $13.10M
YoY Change -6.33% -25.99%
Cost Of Revenue $9.848M $10.18M
YoY Change -3.22% -25.12%
Gross Profit $2.427M $2.928M
YoY Change -17.11% -28.85%
Gross Profit Margin 19.77% 22.34%
Selling, General & Admin $4.507M $3.734M
YoY Change 20.7% -24.54%
% of Gross Profit 185.7% 127.53%
Research & Development $142.0K $157.0K
YoY Change -9.55% -25.24%
% of Gross Profit 5.85% 5.36%
Depreciation & Amortization $72.00K $76.00K
YoY Change -5.26% -29.63%
% of Gross Profit 2.97% 2.6%
Operating Expenses $4.981M $5.115M
YoY Change -2.62% -50.09%
Operating Profit -$2.554M -$2.187M
YoY Change 16.78% -64.34%
Interest Expense -$729.0K -$50.00K
YoY Change 1358.0% -82.14%
% of Operating Profit
Other Income/Expense, Net $16.00K $1.000K
YoY Change 1500.0% -96.55%
Pretax Income -$3.267M -$2.240M
YoY Change 45.85% -64.93%
Income Tax $167.0K -$35.00K
% Of Pretax Income
Net Earnings -$3.434M -$2.205M
YoY Change 55.74% -64.77%
Net Earnings / Revenue -27.98% -16.83%
Basic Earnings Per Share -$0.16 -$0.11
Diluted Earnings Per Share -$0.16 -$0.11
COMMON SHARES
Basic Shares Outstanding 20.98M 20.63M
Diluted Shares Outstanding 20.98M 20.63M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.448M $3.750M
YoY Change 45.28% -66.99%
Cash & Equivalents $5.448M $3.749M
Short-Term Investments
Other Short-Term Assets $4.299M $1.480M
YoY Change 190.47% -18.68%
Inventory
Prepaid Expenses
Receivables $10.42M $11.75M
Other Receivables $0.00 $0.00
Total Short-Term Assets $20.17M $16.98M
YoY Change 18.8% -36.72%
LONG-TERM ASSETS
Property, Plant & Equipment $850.0K $694.0K
YoY Change 22.48% -17.28%
Goodwill $13.34M
YoY Change 0.0%
Intangibles $3.893M
YoY Change -29.3%
Long-Term Investments
YoY Change
Other Assets $1.635M $59.00K
YoY Change 2671.19% -1.67%
Total Long-Term Assets $20.19M $20.00M
YoY Change 0.91% -10.8%
TOTAL ASSETS
Total Short-Term Assets $20.17M $16.98M
Total Long-Term Assets $20.19M $20.00M
Total Assets $40.35M $36.98M
YoY Change 9.13% -24.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.133M $739.0K
YoY Change 53.32% -47.33%
Accrued Expenses $5.618M $1.462M
YoY Change 284.27% 1.11%
Deferred Revenue $4.947M
YoY Change -21.87%
Short-Term Debt $0.00 $2.510M
YoY Change -100.0% -28.29%
Long-Term Debt Due $830.0K $8.830M
YoY Change -90.6% -33.7%
Total Short-Term Liabilities $16.55M $24.48M
YoY Change -32.38% -22.9%
LONG-TERM LIABILITIES
Long-Term Debt $2.955M $1.260M
YoY Change 134.52%
Other Long-Term Liabilities $785.0K $263.0K
YoY Change 198.48% -74.52%
Total Long-Term Liabilities $3.740M $1.523M
YoY Change 145.57% 47.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.55M $24.48M
Total Long-Term Liabilities $3.740M $1.523M
Total Liabilities $20.29M $27.56M
YoY Change -26.38% -22.32%
SHAREHOLDERS EQUITY
Retained Earnings -$67.40M
YoY Change 10.64%
Common Stock $222.0K
YoY Change 1.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.999M
YoY Change 0.0%
Treasury Stock Shares $1.599M
Shareholders Equity $20.06M $9.416M
YoY Change
Total Liabilities & Shareholders Equity $40.35M $36.98M
YoY Change 9.13% -24.92%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$3.434M -$2.205M
YoY Change 55.74% -64.77%
Depreciation, Depletion And Amortization $72.00K $76.00K
YoY Change -5.26% -29.63%
Cash From Operating Activities $1.083M -$1.958M
YoY Change -155.31% -219.32%
INVESTING ACTIVITIES
Capital Expenditures -$187.0K $153.0K
YoY Change -222.22% 15200.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$187.0K -$225.0K
YoY Change -16.89% 262.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities 2.597M -731.0K
YoY Change -455.27% -57.33%
NET CHANGE
Cash From Operating Activities 1.083M -1.958M
Cash From Investing Activities -187.0K -225.0K
Cash From Financing Activities 2.597M -731.0K
Net Change In Cash 3.493M -2.953M
YoY Change -218.29% 792.15%
FREE CASH FLOW
Cash From Operating Activities $1.083M -$1.958M
Capital Expenditures -$187.0K $153.0K
Free Cash Flow $1.270M -$2.111M
YoY Change -160.16% -228.72%

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1000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3267000
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2240000

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