2024 Q2 Form 10-Q Financial Statement

#000165495424005713 Filed on May 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $18.21M $17.02M
YoY Change 9.35% 43.69%
Cost Of Revenue $2.906M $2.099M
YoY Change 22.7% -34.21%
Gross Profit $15.30M $14.92M
YoY Change 7.14% 72.4%
Gross Profit Margin 84.04% 87.67%
Selling, General & Admin $17.00M $17.02M
YoY Change 18.33% 40.72%
% of Gross Profit 111.11% 114.01%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $430.7K $673.2K
YoY Change -38.96% 5.35%
% of Gross Profit 2.81% 4.51%
Operating Expenses $17.00M $17.02M
YoY Change -3.52% 40.72%
Operating Profit -$1.699M -$2.091M
YoY Change -49.11% -39.13%
Interest Expense -$42.45K -$20.38K
YoY Change 11.16% 6.59%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change -100.0%
Pretax Income -$1.742M -$2.112M
YoY Change -48.42% -38.62%
Income Tax $5.353K
% Of Pretax Income
Net Earnings -$1.747M -$2.112M
YoY Change -48.27% -38.62%
Net Earnings / Revenue -9.6% -12.4%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.01 -$0.02
COMMON SHARES
Basic Shares Outstanding 139.9M shares 139.2M shares
Diluted Shares Outstanding 140.1M shares 138.8M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.012M $2.432M
YoY Change -60.12% 23.48%
Cash & Equivalents $2.012M $2.000M
Short-Term Investments
Other Short-Term Assets $1.038M $1.019M
YoY Change 25.28% 4.99%
Inventory
Prepaid Expenses $1.038M $1.019M
Receivables $8.081M $8.710M
Other Receivables $0.00 $0.00
Total Short-Term Assets $11.13M $12.16M
YoY Change -33.22% 0.83%
LONG-TERM ASSETS
Property, Plant & Equipment $1.757M $1.726M
YoY Change 4.55% 2.29%
Goodwill $9.853M $9.853M
YoY Change 0.0% 0.0%
Intangibles $4.173M $4.419M
YoY Change -19.09% -18.22%
Long-Term Investments
YoY Change
Other Assets $128.3K $53.35K
YoY Change -81.27% -20.28%
Total Long-Term Assets $17.33M $17.61M
YoY Change -1.64% -2.65%
TOTAL ASSETS
Total Short-Term Assets $11.13M $12.16M
Total Long-Term Assets $17.33M $17.61M
Total Assets $28.46M $29.78M
YoY Change -16.99% -1.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.076M $5.331M
YoY Change -1.89% -3.2%
Accrued Expenses $7.601M $8.030M
YoY Change -7.77% 62.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $27.37K $38.19K
YoY Change -63.06% -55.74%
Total Short-Term Liabilities $13.95M $13.63M
YoY Change -4.66% 20.34%
LONG-TERM LIABILITIES
Long-Term Debt $5.970K $12.12K
YoY Change -82.09% -76.17%
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $972.3K $1.037M
YoY Change 530.4% 484.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.95M $13.63M
Total Long-Term Liabilities $972.3K $1.037M
Total Liabilities $14.92M $14.67M
YoY Change 0.92% 27.5%
SHAREHOLDERS EQUITY
Retained Earnings -$171.3M -$169.6M
YoY Change 4.53% 5.64%
Common Stock $140.4K $139.4K
YoY Change 1.9% 14.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.54M $15.10M
YoY Change
Total Liabilities & Shareholders Equity $28.46M $29.78M
YoY Change -16.99% -1.26%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$1.747M -$2.112M
YoY Change -48.27% -38.62%
Depreciation, Depletion And Amortization $430.7K $673.2K
YoY Change -38.96% 5.35%
Cash From Operating Activities $195.4K -$1.356M
YoY Change -50.79% -58.04%
INVESTING ACTIVITIES
Capital Expenditures $461.7K $472.2K
YoY Change 8.59% 14.83%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$461.7K -$472.2K
YoY Change 8.59% -125.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -153.8K -$180.7K
YoY Change -104.95% -146.15%
NET CHANGE
Cash From Operating Activities 195.4K -$1.356M
Cash From Investing Activities -461.7K -$472.2K
Cash From Financing Activities -153.8K -$180.7K
Net Change In Cash -420.1K -$2.008M
YoY Change -113.66% 108.82%
FREE CASH FLOW
Cash From Operating Activities $195.4K -$1.356M
Capital Expenditures $461.7K $472.2K
Free Cash Flow -$266.3K -$1.828M
YoY Change 849.75% -49.82%

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">The preparation of financial statements, in accordance with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, net revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying consolidated financial statements are based upon management’s regular evaluation of the relevant facts and circumstances as of the date of the consolidated financial statements. We regularly evaluate estimates and assumptions related to capitalized labor, goodwill and purchased intangible asset valuations and income tax valuation allowance. Actual results may differ from the estimates and assumptions used in preparing the accompanying consolidated financial statements, and such differences could be material.</p>
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208000 usd
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CY2023 inuvo Increase Decrease In Allowance For Doubtful Accounts Receivable
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1157887 usd

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