$ISSC
INNOVATIVE SOLUTIONS & SUPPORT INC

2023 Q2 Form 10-Q Financial Statement

#000110465923057210 Filed on May 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $7.959M $7.340M
YoY Change 14.79% 7.23%
Cost Of Revenue $3.225M $2.600M
YoY Change 11.98% -2.36%
Gross Profit $4.735M $4.740M
YoY Change 16.72% 13.33%
Gross Profit Margin 59.49% 64.58%
Selling, General & Admin $2.396M $2.447M
YoY Change 41.4% 41.85%
% of Gross Profit 50.6% 51.62%
Research & Development $851.3K $866.2K
YoY Change 25.86% 33.25%
% of Gross Profit 17.98% 18.27%
Depreciation & Amortization $86.44K $85.98K
YoY Change -2.96% -2.43%
% of Gross Profit 1.83% 1.81%
Operating Expenses $3.247M $3.313M
YoY Change 36.97% 39.5%
Operating Profit $1.488M $1.427M
YoY Change -11.76% -21.05%
Interest Expense $185.7K $131.0K
YoY Change 1679.96% 37314.29%
% of Operating Profit 12.48% 9.17%
Other Income/Expense, Net $90.05K $23.26K
YoY Change 316.74% 101.28%
Pretax Income $1.763M $1.582M
YoY Change 2.64% -13.09%
Income Tax $340.0K $310.4K
% Of Pretax Income 19.28% 19.63%
Net Earnings $1.423M $1.271M
YoY Change 4.72% -11.08%
Net Earnings / Revenue 17.88% 17.32%
Basic Earnings Per Share $0.08 $0.07
Diluted Earnings Per Share $0.08 $0.07
COMMON SHARES
Basic Shares Outstanding 17.44M 17.40M
Diluted Shares Outstanding 17.58M 17.35M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.572M $19.79M
YoY Change -82.31% 70.34%
Cash & Equivalents $2.572M $19.79M
Short-Term Investments
Other Short-Term Assets $775.3K $413.9K
YoY Change 176.52% 24.01%
Inventory $5.743M $5.900M
Prepaid Expenses
Receivables $5.944M $3.967M
Other Receivables $0.00 $0.00
Total Short-Term Assets $25.94M $31.06M
YoY Change 4.64% 46.24%
LONG-TERM ASSETS
Property, Plant & Equipment $10.05M $6.201M
YoY Change 57.43% -22.94%
Goodwill $4.608M
YoY Change
Intangibles $20.91M $60.35K
YoY Change 33957.23% -1.73%
Long-Term Investments
YoY Change
Other Assets $198.3K $264.7K
YoY Change 17.43% 52.63%
Total Long-Term Assets $36.41M $7.058M
YoY Change 433.23% -19.4%
TOTAL ASSETS
Total Short-Term Assets $25.94M $31.06M
Total Long-Term Assets $36.41M $7.058M
Total Assets $62.35M $38.12M
YoY Change 97.21% 27.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $767.1K $1.499M
YoY Change 1.94% 101.32%
Accrued Expenses $5.275M $1.862M
YoY Change 213.35% 19.51%
Deferred Revenue $103.0K $191.7K
YoY Change -68.72% -30.71%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000M
YoY Change
Total Short-Term Liabilities $8.145M $3.553M
YoY Change 194.58% 37.74%
LONG-TERM LIABILITIES
Long-Term Debt $18.00M $0.00
YoY Change
Other Long-Term Liabilities $420.9K $424.2K
YoY Change 2186.9% 1846.57%
Total Long-Term Liabilities $18.42M $424.2K
YoY Change 99975.78% 1846.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.145M $3.553M
Total Long-Term Liabilities $18.42M $424.2K
Total Liabilities $26.57M $3.977M
YoY Change 854.43% 52.89%
SHAREHOLDERS EQUITY
Retained Earnings $3.034M $1.611M
YoY Change -254.72% -148.51%
Common Stock $54.12M $53.90M
YoY Change 3.75% 3.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $35.78M $34.15M
YoY Change
Total Liabilities & Shareholders Equity $62.35M $38.12M
YoY Change 97.21% 27.08%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $1.423M $1.271M
YoY Change 4.72% -11.08%
Depreciation, Depletion And Amortization $86.44K $85.98K
YoY Change -2.96% -2.43%
Cash From Operating Activities -$1.274M $395.6K
YoY Change -142.72% -79.4%
INVESTING ACTIVITIES
Capital Expenditures $84.93K $47.43K
YoY Change -210.49% -776.6%
Acquisitions
YoY Change
Other Investing Activities -$35.86M
YoY Change
Cash From Investing Activities -$35.94M -$47.43K
YoY Change 46660.67% 576.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 20.00M 0.000
YoY Change 116518.08%
NET CHANGE
Cash From Operating Activities -1.274M 395.6K
Cash From Investing Activities -35.94M -47.43K
Cash From Financing Activities 20.00M 0.000
Net Change In Cash -17.22M 348.1K
YoY Change -689.08% -81.8%
FREE CASH FLOW
Cash From Operating Activities -$1.274M $395.6K
Capital Expenditures $84.93K $47.43K
Free Cash Flow -$1.359M $348.1K
YoY Change -144.42% -81.93%

Facts In Submission

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INNOVATIVE SOLUTIONS AND SUPPORT, INC.
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-80151
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-84358
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
408846
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
408846
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2540800
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3353234
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17250546
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8265606
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19791346
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11618840
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1065506
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
110481
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17354030
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17253746
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>
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17340104
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17250059
CY2022Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
162742
CY2022Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
259183
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
0
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
0
us-gaap Contract With Customer Asset Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerAssetIncreaseDecreaseForContractAcquiredInBusinessCombination
0
us-gaap Contract With Customer Asset Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerAssetIncreaseDecreaseForContractAcquiredInBusinessCombination
0
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-232138
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
164686
CY2023Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
162742
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
191731
issc Percentage Of Employees Who Were Engineers Engaged In Engineering Development Projects
PercentageOfEmployeesWhoWereEngineersEngagedInEngineeringDevelopmentProjects
0.22
issc Standard Product Warranty Accrual Length Of Warranty Period
StandardProductWarrantyAccrualLengthOfWarrantyPeriod
P24M
CY2023Q1 us-gaap Self Insurance Reserve
SelfInsuranceReserve
45632
CY2022Q3 us-gaap Self Insurance Reserve
SelfInsuranceReserve
51590
CY2023Q1 issc Excess Funded Premiums Over Estimated Claims
ExcessFundedPremiumsOverEstimatedClaims
464373
CY2022Q3 issc Excess Funded Premiums Over Estimated Claims
ExcessFundedPremiumsOverEstimatedClaims
424155
CY2023Q1 issc Number Of Banks
NumberOfBanks
2
CY2023Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
5108433
CY2022Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
4451045
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
745587
CY2022Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
795723
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
45815
CY2022Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
102336
CY2023Q1 us-gaap Inventory Net
InventoryNet
5899835
CY2022Q3 us-gaap Inventory Net
InventoryNet
5349104
CY2023Q1 us-gaap Prepaid Insurance
PrepaidInsurance
829421
CY2022Q3 us-gaap Prepaid Insurance
PrepaidInsurance
777311
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
413922
CY2022Q3 us-gaap Other Assets Current
OtherAssetsCurrent
365159
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1243343
CY2022Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1142470
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18218262
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18226302
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
12017311
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11934113
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6200951
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6292189
CY2023Q1 us-gaap Depreciation
Depreciation
85981
CY2022Q1 us-gaap Depreciation
Depreciation
88122
us-gaap Depreciation
Depreciation
171390
us-gaap Depreciation
Depreciation
180494
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17334553
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17250059
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1690
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
636158
CY2023Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
60348
CY2022Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
60348
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
21790
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
28680
CY2023Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
182528
CY2022Q3 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
75300
CY2023Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
264666
CY2022Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
164328
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1063
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1063
CY2023Q1 issc Prepaid Software Licenses Noncurrent
PrepaidSoftwareLicensesNoncurrent
47772
CY2022Q3 issc Prepaid Software Licenses Noncurrent
PrepaidSoftwareLicensesNoncurrent
0
CY2023Q1 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
0
CY2022Q1 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
3557
us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
0
us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
6577
CY2023Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
587650
CY2022Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
607001
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
742570
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1030628
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
130600
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
364794
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
13287
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
13615
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
388084
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
956237
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1862191
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2972275
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
5551
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
577690
CY2022Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
607001
CY2023Q1 issc Product Warranty Accrual Net Accrued Expense
ProductWarrantyAccrualNetAccruedExpense
34912
issc Product Warranty Accrual Net Accrued Expense
ProductWarrantyAccrualNetAccruedExpense
34376
CY2023Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
24952
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
53727
CY2023Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
587650
CY2023Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
587650
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.196
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.214
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.214
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.214
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
1271103
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
1429570
us-gaap Net Income Loss
NetIncomeLoss
1969754
us-gaap Net Income Loss
NetIncomeLoss
2562628
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17352340
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17253746
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
25000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
100000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
82886
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
0
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
277520
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
138760
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000
CY2023Q1 issc Equity Method Investments Ownership Percentage
EquityMethodInvestmentsOwnershipPercentage
0.10
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 March 31, 2023</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_dAkmw6tBjESJi3zruRv6aw;"><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;"> 21,790</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_VGc3-vBg60GNc6xOdtdM2A;"><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;"> 13,287</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_HexjHagsfE-SLBQ4IHRovw;"><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;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 8,503</p></td></tr><tr><td style="vertical-align:bottom;width:50%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total lease liabilities</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:32.5%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</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;"> 21,790</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
21790
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
13287
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8503
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
21790
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
3669
us-gaap Operating Lease Expense
OperatingLeaseExpense
7338
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M12D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
14676
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
9784
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
24460
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2670
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
21790
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
13287
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8503

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