$ISSC
INNOVATIVE SOLUTIONS & SUPPORT INC

2023 Q1 Form 10-Q Financial Statement

#000110465923021519 Filed on February 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4
Revenue $7.340M $6.516M
YoY Change 7.23% -2.68%
Cost Of Revenue $2.600M $2.792M
YoY Change -2.36% 2.36%
Gross Profit $4.740M $3.724M
YoY Change 13.33% -6.15%
Gross Profit Margin 64.58% 57.15%
Selling, General & Admin $2.447M $2.262M
YoY Change 41.85% 25.17%
% of Gross Profit 51.62% 60.74%
Research & Development $866.2K $670.4K
YoY Change 33.25% -8.97%
% of Gross Profit 18.27% 18.0%
Depreciation & Amortization $85.98K $85.41K
YoY Change -2.43% -7.54%
% of Gross Profit 1.81% 2.29%
Operating Expenses $3.313M $2.932M
YoY Change 39.5% 15.29%
Operating Profit $1.427M $791.5K
YoY Change -21.05% -44.43%
Interest Expense $131.0K $115.9K
YoY Change 37314.29% 115790.0%
% of Operating Profit 9.17% 14.64%
Other Income/Expense, Net $23.26K $18.20K
YoY Change 101.28% 12.06%
Pretax Income $1.582M $925.6K
YoY Change -13.09% -35.75%
Income Tax $310.4K $226.9K
% Of Pretax Income 19.63% 24.52%
Net Earnings $1.271M $698.7K
YoY Change -11.08% -38.34%
Net Earnings / Revenue 17.32% 10.72%
Basic Earnings Per Share $0.07 $0.04
Diluted Earnings Per Share $0.07 $0.04
COMMON SHARES
Basic Shares Outstanding 17.40M 17.32M
Diluted Shares Outstanding 17.35M 17.33M

Balance Sheet

Concept 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.79M $19.44M
YoY Change 70.34% 100.32%
Cash & Equivalents $19.79M $19.44M
Short-Term Investments
Other Short-Term Assets $413.9K $247.5K
YoY Change 24.01% 1.81%
Inventory $5.900M $5.252M
Prepaid Expenses
Receivables $3.967M $3.317M
Other Receivables $0.00 $0.00
Total Short-Term Assets $31.06M $29.22M
YoY Change 46.24% 54.5%
LONG-TERM ASSETS
Property, Plant & Equipment $6.201M $6.239M
YoY Change -22.94% -23.27%
Goodwill
YoY Change
Intangibles $60.35K $60.35K
YoY Change -1.73% -3.4%
Long-Term Investments
YoY Change
Other Assets $264.7K $160.9K
YoY Change 52.63% -11.45%
Total Long-Term Assets $7.058M $6.732M
YoY Change -19.4% -26.4%
TOTAL ASSETS
Total Short-Term Assets $31.06M $29.22M
Total Long-Term Assets $7.058M $6.732M
Total Assets $38.12M $35.96M
YoY Change 27.08% 28.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.499M $842.3K
YoY Change 101.32% 68.3%
Accrued Expenses $1.862M $2.509M
YoY Change 19.51% 74.78%
Deferred Revenue $191.7K $91.78K
YoY Change -30.71% -72.67%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.553M $3.443M
YoY Change 37.74% 51.55%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $424.2K $421.9K
YoY Change 1846.57% 1573.43%
Total Long-Term Liabilities $424.2K $421.9K
YoY Change 1846.57% 1573.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.553M $3.443M
Total Long-Term Liabilities $424.2K $421.9K
Total Liabilities $3.977M $3.865M
YoY Change 52.89% 68.26%
SHAREHOLDERS EQUITY
Retained Earnings $1.611M $339.6K
YoY Change -148.51% -107.15%
Common Stock $53.90M $53.12M
YoY Change 3.49% 2.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $34.15M $32.09M
YoY Change
Total Liabilities & Shareholders Equity $38.12M $35.96M
YoY Change 27.08% 28.13%

Cashflow Statement

Concept 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $1.271M $698.7K
YoY Change -11.08% -38.34%
Depreciation, Depletion And Amortization $85.98K $85.41K
YoY Change -2.43% -7.54%
Cash From Operating Activities $395.6K $1.817M
YoY Change -79.4% 19.69%
INVESTING ACTIVITIES
Capital Expenditures $47.43K $32.72K
YoY Change -776.6% -57.7%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$47.43K -$32.72K
YoY Change 576.6% -57.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 408.8K
YoY Change
NET CHANGE
Cash From Operating Activities 395.6K 1.817M
Cash From Investing Activities -47.43K -32.72K
Cash From Financing Activities 0.000 408.8K
Net Change In Cash 348.1K 2.193M
YoY Change -81.8% 52.23%
FREE CASH FLOW
Cash From Operating Activities $395.6K $1.817M
Capital Expenditures $47.43K $32.72K
Free Cash Flow $348.1K $1.784M
YoY Change -81.93% 23.84%

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CY2022Q4 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:18pt;text-indent:-18pt;margin:0pt 0pt 9pt 36pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 9pt 0pt;">The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America, which require management to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates. Estimates are used in accounting for, among other items, long term contracts, allowances for doubtful accounts, inventory obsolescence, product warranty cost liabilities, income taxes, engineering and material costs on Engineering Development Contract (“EDC”) programs, percentage of completion on EDC contracts, recoverability of long-lived assets and contingencies. Estimates and assumptions are reviewed periodically and the effects of changes, if any, are reflected in the consolidated statements of operations in the period they are determined.</p>
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
60348
CY2022Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
60348
CY2021Q4 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2022Q4 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2022Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
162742
CY2022Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
259183
CY2022Q4 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
0
CY2022Q4 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
0
CY2022Q4 us-gaap Contract With Customer Asset Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerAssetIncreaseDecreaseForContractAcquiredInBusinessCombination
0
CY2022Q4 us-gaap Contract With Customer Asset Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerAssetIncreaseDecreaseForContractAcquiredInBusinessCombination
0
CY2022Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-202794
CY2022Q4 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
35390
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
162742
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
91779
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
25214
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
28680
CY2022Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
48146
CY2022Q3 us-gaap Self Insurance Reserve
SelfInsuranceReserve
51590
CY2022Q4 issc Excess Funded Premiums Over Estimated Claims
ExcessFundedPremiumsOverEstimatedClaims
505776
CY2022Q3 issc Excess Funded Premiums Over Estimated Claims
ExcessFundedPremiumsOverEstimatedClaims
424155
CY2022Q4 issc Number Of Banks
NumberOfBanks
2
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
4685109
CY2022Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
4451045
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
530992
CY2022Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
795723
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
36194
CY2022Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
102336
CY2022Q4 us-gaap Inventory Net
InventoryNet
5252295
CY2022Q3 us-gaap Inventory Net
InventoryNet
5349104
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
801703
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18170827
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18226302
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11931331
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11934113
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6239496
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6292189
CY2022Q4 us-gaap Depreciation
Depreciation
85409
CY2021Q4 us-gaap Depreciation
Depreciation
92372
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
636158
CY2022Q4 issc Percentage Of Employees Who Were Engineers Engaged In Engineering Development Projects
PercentageOfEmployeesWhoWereEngineersEngagedInEngineeringDevelopmentProjects
0.21
CY2022Q4 issc Standard Product Warranty Accrual Length Of Warranty Period
StandardProductWarrantyAccrualLengthOfWarrantyPeriod
P24M
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
75300
CY2022Q3 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
75300
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
160862
CY2022Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
164328
CY2021Q4 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2022Q4 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
577690
CY2022Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
607001
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
381822
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1030628
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
275077
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
364794
CY2022Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
475200
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
13450
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
13615
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
785732
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
956237
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2508971
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2972275
CY2022Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
607001
CY2022Q4 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
536
CY2022Q4 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
28775
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
577690
CY2022Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.245
CY2021Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.213
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
698651
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
1133058
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17316766
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17246372
CY2022Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
9411
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17326177
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17246372
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
100000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
7886
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
0
CY2022Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2021Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000
CY2022Q4 issc Equity Method Investments Ownership Percentage
EquityMethodInvestmentsOwnershipPercentage
0.10
CY2022Q4 issc Schedule Of Operating Lease Related Assets And Liabilities
ScheduleOfOperatingLeaseRelatedAssetsAndLiabilities
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:32.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td colspan="6" style="vertical-align:bottom;white-space:nowrap;width:100%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Classification on the Consolidated Balance Sheet on December 31, 2022</b></p></td></tr><tr><td style="vertical-align:bottom;width:50%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Assets</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:32.5%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">  </p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.95%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">  </p></td></tr><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Operating leases</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:32.5%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="-sec-ix-hidden:Hidden_yrU9d1HLgkm_fv7MeCL-OA;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Other assets</span></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.95%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 25,214</p></td></tr><tr><td style="vertical-align:bottom;width:50%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:32.5%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.95%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Liabilities</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:32.5%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">  </p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.95%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:50%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Operating leases- current</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:32.5%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="-sec-ix-hidden:Hidden_ntgBGGjIgkauhgapCYdRGA;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Accrued expenses</span></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.95%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 13,450</p></td></tr><tr><td style="vertical-align:bottom;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Operating leases – noncurrent</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:32.5%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="-sec-ix-hidden:Hidden_--wtkgCB8kilZTuWxBTh_g;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Other liabilities</span></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 11,764</p></td></tr><tr><td style="vertical-align:bottom;width:50%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total lease liabilities</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:32.5%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.95%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 25,214</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
25214
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
13450
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11764
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
25214
CY2022Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
3669
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y10M24D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
14676
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
13453
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
28129
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2915
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
25214
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
13450
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11764

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
issc-20221231_pre.xml Edgar Link unprocessable
0001104659-23-021519-index-headers.html Edgar Link pending
0001104659-23-021519-index.html Edgar Link pending
0001104659-23-021519.txt Edgar Link pending
0001104659-23-021519-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
issc-20221231.xsd Edgar Link pending
issc-20221231x10q.htm Edgar Link pending
issc-20221231xex31d1.htm Edgar Link pending
issc-20221231xex31d2.htm Edgar Link pending
issc-20221231xex32d1.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
issc-20221231_cal.xml Edgar Link unprocessable
issc-20221231_def.xml Edgar Link unprocessable
issc-20221231_lab.xml Edgar Link unprocessable
issc-20221231x10q_htm.xml Edgar Link completed
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
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R4.htm Edgar Link pending
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R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending