$HOUR
Hour Loop, Inc

2023 Q2 Form 10-Q Financial Statement

#000149315223016503 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $22.42M $21.07M $51.22M
YoY Change 51.46% 70.53% 63.11%
Cost Of Revenue $11.06M $11.45M $26.60M
YoY Change 71.63% 94.19% 88.28%
Gross Profit $11.36M $9.616M $24.62M
YoY Change 35.91% 48.93% 42.53%
Gross Profit Margin 50.66% 45.64% 48.06%
Selling, General & Admin $12.20M $11.22M $25.43M
YoY Change 39.37% 55.79% 82.72%
% of Gross Profit 107.45% 116.69% 103.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $33.97K $34.66K $39.09K
YoY Change 140.92% 312.64% 8586.67%
% of Gross Profit 0.3% 0.36% 0.16%
Operating Expenses $12.20M $11.22M $25.43M
YoY Change 39.37% 55.79% 82.72%
Operating Profit -$846.3K -$1.604M -$811.1K
YoY Change 111.77% 115.26% -124.17%
Interest Expense -$62.39K $56.58K -$17.48K
YoY Change -403.35% -167.71% -33.23%
% of Operating Profit
Other Income/Expense, Net -$44.01K -$55.75K -$36.58K
YoY Change 309.15% -3841.28% -54.65%
Pretax Income -$890.4K -$1.660M -$865.1K
YoY Change 116.94% 100.65% -126.63%
Income Tax -$121.0K -$425.0K -$195.6K
% Of Pretax Income
Net Earnings -$769.4K -$1.235M -$669.5K
YoY Change 145.49% 91.54% -126.62%
Net Earnings / Revenue -3.43% -5.86% -1.31%
Basic Earnings Per Share -$0.02 -$0.04
Diluted Earnings Per Share -$0.02 -$0.04 -$0.02
COMMON SHARES
Basic Shares Outstanding 35.06M shares 35.05M shares 35.04M shares
Diluted Shares Outstanding 35.06M shares 35.05M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.119M $1.275M $4.563M
YoY Change -51.5% -83.37% -56.93%
Cash & Equivalents $1.119M $1.275M $4.563M
Short-Term Investments
Other Short-Term Assets $6.002K $12.13K $9.277K
YoY Change -78.78% -98.27% 122.9%
Inventory $14.42M $13.57M $18.80M
Prepaid Expenses
Receivables $322.3K $343.3K $352.4K
Other Receivables $413.9K $419.4K $55.73K
Total Short-Term Assets $16.73M $16.02M $24.46M
YoY Change -6.49% -21.38% 30.61%
LONG-TERM ASSETS
Property, Plant & Equipment $208.3K $245.1K $274.2K
YoY Change 33.24% -59.19% 1650.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.095M $974.3K $549.3K
YoY Change 236.97% 327.28% 1107.56%
Total Long-Term Assets $1.598M $1.614M $1.274M
YoY Change 65.37% 94.72% 1296.18%
TOTAL ASSETS
Total Short-Term Assets $16.73M $16.02M $24.46M
Total Long-Term Assets $1.598M $1.614M $1.274M
Total Assets $18.33M $17.64M $25.73M
YoY Change -2.8% -16.85% 36.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.449M $6.025M $11.88M
YoY Change 39.0% -20.82% 24.57%
Accrued Expenses $117.4K $127.1K $182.3K
YoY Change -76.63% -90.36% 56.24%
Deferred Revenue
YoY Change
Short-Term Debt $643.3K $657.9K $652.3K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.288M $7.747M $14.50M
YoY Change -18.09% -42.12% -10.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.186M $4.227M $4.329M
YoY Change 2166.34% 1938.09%
Total Long-Term Liabilities $4.186M $4.274M $4.394M
YoY Change 2166.34% 1960.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.288M $7.747M $14.50M
Total Long-Term Liabilities $4.186M $4.274M $4.394M
Total Liabilities $13.47M $12.02M $18.90M
YoY Change 16.92% -11.55% 16.93%
SHAREHOLDERS EQUITY
Retained Earnings -$827.5K -$58.17K $1.177M
YoY Change -148.78% -55.66%
Common Stock $3.507K $3.506K $3.506K
YoY Change 0.09% 5.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.855M $5.615M $6.833M
YoY Change
Total Liabilities & Shareholders Equity $18.33M $17.64M $25.73M
YoY Change -2.8% -16.85% 36.75%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income -$769.4K -$1.235M -$669.5K
YoY Change 145.49% 91.54% -126.62%
Depreciation, Depletion And Amortization $33.97K $34.66K $39.09K
YoY Change 140.92% 312.64% 8586.67%
Cash From Operating Activities -$294.4K -$3.130M $2.923M
YoY Change -94.47% -60.5% -52.78%
INVESTING ACTIVITIES
Capital Expenditures $2.500K $3.379K $339.5K
YoY Change -97.31% -2206.2%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.500K -$3.379K -$71.18K
YoY Change -93.54% -97.31% 341.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 159.0K -$159.0K 34.65K
YoY Change -103.1% -193.0%
NET CHANGE
Cash From Operating Activities -294.4K -$3.130M 2.923M
Cash From Investing Activities -2.500K -$3.379K -71.18K
Cash From Financing Activities 159.0K -$159.0K 34.65K
Net Change In Cash -137.9K -$3.288M 2.886M
YoY Change -97.43% 12.68% -52.97%
FREE CASH FLOW
Cash From Operating Activities -$294.4K -$3.130M $2.923M
Capital Expenditures $2.500K $3.379K $339.5K
Free Cash Flow -$296.9K -$3.133M $2.583M
YoY Change -61.08% -58.37%

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CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
375935 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
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CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
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CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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CY2022Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3379 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-125468 usd
CY2023Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
159042 usd
CY2022Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1024188 usd
CY2022Q1 HOUR Proceeds From Prepaid Expenses And Other Current Assets
ProceedsFromPrepaidExpensesAndOtherCurrentAssets
576168 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5132172 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4657 usd
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-10710 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3287798 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2928477 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4562589 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10592572 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1274791 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7664095 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
161798 usd
CY2023Q1 HOUR Rightofuse Of Asset And Operating Lease Liabilities Recognized
RightofuseOfAssetAndOperatingLeaseLiabilitiesRecognized
28652 usd
CY2022Q1 HOUR Rightofuse Of Asset And Operating Lease Liabilities Recognized
RightofuseOfAssetAndOperatingLeaseLiabilitiesRecognized
503577 usd
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2021Q2 us-gaap Plan Of Reorganization Dates Plan Is Effective
PlanOfReorganizationDatesPlanIsEffective
2021-07-27
CY2023Q1 us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
4170418 usd
CY2023Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.02 pure
CY2023Q1 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2022-12-31
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
842263 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3130034 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_844_eus-gaap--UseOfEstimates_zNpjH6TYXUah" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zuLqVbwsOXB8">Use of Estimates</span></b> - The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Significant estimates, including but not limited to, estimates associated with the collectability of allowance for accounts receivable, accounts receivable, useful life of property and equipment, impairment long lived assets, valuation allowance for deferred tax assets and inventory valuation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2023Q1 us-gaap Inventory Net
InventoryNet
13570879 usd
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_846_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zVmx4dF4NuPl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_868_zCrSnDPbJzek" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Reclassification </b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">- Certain amounts in the consolidated financial statements for the prior financials have been reclassified to conform to the current interim review presentation. These reclassifications had no impact on consolidated net earnings, consolidated financial position, or consolidated cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
642145 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
842263 usd
CY2023Q1 us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
2500 usd
CY2023Q1 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P3Y
CY2022Q4 us-gaap Inventory Net
InventoryNet
18801529 usd
CY2023Q1 HOUR Sales Return Rate
SalesReturnRate
0.0725 pure
CY2022Q1 HOUR Sales Return Rate
SalesReturnRate
0.0726 pure
CY2023Q1 HOUR Shipping And Handling Costs
ShippingAndHandlingCosts
5037251 usd
CY2022Q1 HOUR Shipping And Handling Costs
ShippingAndHandlingCosts
2653614 usd
CY2023Q1 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
288477 usd
CY2022Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
288466 usd
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_845_eus-gaap--ConcentrationRiskCreditRisk_zRMH8S4jSD9a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_868_zsbt1V2Cpmo3">Concentrations of Risks</span></b> - Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company maintains cash with various domestic and foreign financial institutions of high credit quality. The Company performs periodic evaluations of the relative credit standing of all of the aforementioned institutions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s accounts receivable are derived from sales contracts with a large number of customers. The Company maintains reserves for potential credit losses on customer accounts when deemed necessary. Significant customers are those which represent more than 10% of the Company’s total net revenue or gross accounts receivable balance at the balance sheet date. <span id="xdx_906_eus-gaap--ConcentrationRiskCustomer_c20230101__20230331_z5xIWB2Qrb91" title="Concentration risk customer">During the three months ended March 31, 2023 and 2022, the Company had no customer that accounted for 10% or more of total net revenues. In addition, as of March 31, 2023 and 2022, the Company had no customer that accounted for 10% or more of gross accounts receivable</span>. As of March 31, 2023 and December 31, 2022, all of the Company’s accounts receivable were held by the Company’s sales platform agent, Amazon, which collects money on the Company’s behalf from its customers. Therefore, the Company’s accounts receivable are comprised of receivables due from Amazon and the reimbursement from Amazon to the Company usually takes 15 to 20 days.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s business is reliant on one key vendor which currently provides the Company with its sales platform, logistics and fulfillment operations, including certain warehousing for the Company’s net goods, and invoicing and collection of its revenue from the Company’s end customers. During the periods ended March 31, 2023 and 2022, approximately <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zgSc553VH0mb" title="Concentration risk percentage"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220331__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zodc5v0e2DY3" title="Concentration risk percentage">100</span></span>% of the Company’s revenue was through or with the Amazon sales platform.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
During the three months ended March 31, 2023 and 2022, the Company had no customer that accounted for 10% or more of total net revenues. In addition, as of March 31, 2023 and 2022, the Company had no customer that accounted for 10% or more of gross accounts receivable
CY2022Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
78947 usd
CY2022Q4 us-gaap Accrued Bonuses Current
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468209 usd
CY2023Q1 us-gaap Advertising Expense
AdvertisingExpense
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CY2022Q1 us-gaap Advertising Expense
AdvertisingExpense
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CY2023Q1 us-gaap Cash And Due From Banks
CashAndDueFromBanks
136657 usd
CY2022Q4 us-gaap Cash And Due From Banks
CashAndDueFromBanks
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CY2023Q1 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
1138134 usd
CY2022Q4 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
3623266 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1274791 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4562589 usd
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
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CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
14911735 usd
CY2023Q1 us-gaap Other Inventory In Transit
OtherInventoryInTransit
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CY2022Q4 us-gaap Other Inventory In Transit
OtherInventoryInTransit
4732057 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
340677 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
842263 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
184720 usd
CY2022 HOUR Inventory Provision
InventoryProvision
665356 usd
CY2023Q1 HOUR Inventory Write Off
InventoryWriteOff
200118 usd
CY2022 HOUR Inventory Write Off
InventoryWriteOff
7813 usd
CY2023Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
642145 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
842263 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
359990 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
353574 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
114842 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
79379 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
245148 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
274195 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3379 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
339518 usd
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
34662 usd
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
79084 usd
CY2023Q1 HOUR Disposal Or Pledge
DisposalOrPledge
0 usd
CY2022 HOUR Disposal Or Pledge
DisposalOrPledge
0 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
46951 usd
CY2023Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
724123 usd
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
1583930 usd
CY2023Q1 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
78947 usd
CY2023Q1 us-gaap Supplies
Supplies
117355 usd
CY2022Q4 us-gaap Supplies
Supplies
182105 usd
CY2023Q1 us-gaap Prepaid Insurance
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124841 usd
CY2023Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
82242 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
55731 usd
CY2023Q1 HOUR Lease Refundable Deposit Current
LeaseRefundableDepositCurrent
77931 usd
CY2022Q4 HOUR Lease Refundable Deposit Current
LeaseRefundableDepositCurrent
80235 usd
CY2023Q1 us-gaap Prepaid Taxes
PrepaidTaxes
419349 usd
CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
413895 usd
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
12130 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
9277 usd
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
833848 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
741243 usd
CY2023Q1 us-gaap Prepaid Taxes
PrepaidTaxes
419349 usd
CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
413895 usd
CY2023Q1 HOUR Accrued Sales Tax Payable Current
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288477 usd
CY2022Q4 HOUR Accrued Sales Tax Payable Current
AccruedSalesTaxPayableCurrent
288466 usd
CY2023Q1 us-gaap Accrued Salaries Current
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CY2022Q4 us-gaap Accrued Salaries Current
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CY2022Q4 us-gaap Accrued Bonuses Current
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CY2023Q1 us-gaap Accrued Liabilities Current
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CY2022Q4 us-gaap Accrued Liabilities Current
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CY2023Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
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CY2022Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
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CY2023Q1 HOUR Noncash Lease Expenses
NoncashLeaseExpenses
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CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
4226996 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
4329460 usd
CY2023Q1 us-gaap Loans Payable
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4170418 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
56578 usd
CY2023Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
159042 usd
CY2022Q1 us-gaap Repayments Of Related Party Debt
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CY2023Q1 us-gaap Operating Lease Liability Current
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CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
385216 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
46951 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
394301 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2023Q1 HOUR Noncash Lease Expenses
NoncashLeaseExpenses
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CY2022Q1 HOUR Noncash Lease Expenses
NoncashLeaseExpenses
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CY2023Q1 us-gaap Operating Lease Payments
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101723 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
30593 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
313653 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
84057 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2470 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
400180 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
12552 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
387628 usd
CY2022Q1 HOUR Noncash Lease Expenses
NoncashLeaseExpenses
57186 usd
CY2023Q1 HOUR General And Administrative Office Expense
GeneralAndAdministrativeOfficeExpense
1783 usd
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2198 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0385 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0383 pure
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2583 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2483 pure
CY2023Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-361568 usd
CY2023Q1 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
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CY2023Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2023Q1 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
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CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
974276 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
549320 usd
CY2023Q1 HOUR Deferred Tax Assets Right Of Use Asset
DeferredTaxAssetsRightOfUseAsset
-1723 usd
CY2022Q4 HOUR Deferred Tax Assets Right Of Use Asset
DeferredTaxAssetsRightOfUseAsset
-139 usd
CY2023Q1 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
165854 usd
CY2022Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
209131 usd
CY2023Q1 us-gaap Operating Loss Carryforwards
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810145 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
340328 usd
CY2023Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
974276 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
549320 usd
CY2023Q1 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2022Q1 HOUR General And Administrative Office Expense
GeneralAndAdministrativeOfficeExpense
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CY2023Q1 HOUR General And Administrative Software Subscriptions Expense
GeneralAndAdministrativeSoftwareSubscriptionsExpense
41925 usd
CY2022Q1 HOUR General And Administrative Software Subscriptions Expense
GeneralAndAdministrativeSoftwareSubscriptionsExpense
17843 usd
CY2023Q1 HOUR Revenue Gross
RevenueGross
23062094 usd
CY2022Q1 HOUR Revenue Gross
RevenueGross
13496210 usd
CY2023Q1 HOUR Sales Returns
SalesReturns
1672322 usd
CY2022Q1 HOUR Sales Returns
SalesReturns
980254 usd
CY2023Q1 HOUR Discounts
Discounts
322163 usd
CY2022Q1 HOUR Discounts
Discounts
161973 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21067609 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12353983 usd
CY2023Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
1077037 usd
CY2022Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
842544 usd
CY2023Q1 us-gaap Legal Fees
LegalFees
105605 usd
CY2022Q1 us-gaap Legal Fees
LegalFees
250797 usd
CY2023Q1 us-gaap General Insurance Expense
GeneralInsuranceExpense
137381 usd
CY2022Q1 us-gaap General Insurance Expense
GeneralInsuranceExpense
142887 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
113242 usd
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
85266 usd
CY2023Q1 us-gaap Taxes Other
TaxesOther
10346 usd
CY2022Q1 us-gaap Taxes Other
TaxesOther
81015 usd
CY2023Q1 HOUR Outside Services Expense
OutsideServicesExpense
35940 usd
CY2022Q1 HOUR Outside Services Expense
OutsideServicesExpense
70667 usd
CY2023Q1 us-gaap Franchisor Costs
FranchisorCosts
50194 usd
CY2022Q1 us-gaap Franchisor Costs
FranchisorCosts
49870 usd
CY2023Q1 us-gaap Pension Expense
PensionExpense
45143 usd
CY2022Q1 us-gaap Pension Expense
PensionExpense
37305 usd
CY2022Q1 HOUR Manpower Recruitment Advertising Expense
ManpowerRecruitmentAdvertisingExpense
16678 usd
CY2023Q1 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
388 usd
CY2022Q1 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
4542 usd
CY2023Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
94202 usd
CY2022Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
42263 usd
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1713186 usd
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1675964 usd
CY2023Q1 us-gaap Pension Expense
PensionExpense
45143 usd
CY2022Q1 us-gaap Pension Expense
PensionExpense
37305 usd
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
35052833 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
35047828 shares

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
hour-20230331_def.xml Edgar Link unprocessable
0001493152-23-016503-index-headers.html Edgar Link pending
0001493152-23-016503-index.html Edgar Link pending
0001493152-23-016503.txt Edgar Link pending
0001493152-23-016503-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
hour-20230331.xsd Edgar Link pending
MetaLinks.json Edgar Link pending
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hour-20230331_cal.xml Edgar Link unprocessable
hour-20230331_lab.xml Edgar Link unprocessable
hour-20230331_pre.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
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