$KOSS
KOSS CORP

2021 Q3 Form 10-Q Financial Statement

#000005670121000036 Filed on October 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3 2020 Q2
Revenue $4.365M $5.208M $3.950M
YoY Change -16.19% -3.74% -31.78%
Cost Of Revenue $2.783M $3.572M $2.590M
YoY Change -22.08% -12.09% -36.98%
Gross Profit $1.582M $1.636M $1.360M
YoY Change -3.32% 21.43% -18.56%
Gross Profit Margin 36.24% 31.42% 34.43%
Selling, General & Admin $1.781M $1.506M $1.210M
YoY Change 18.26% -9.54% -26.67%
% of Gross Profit 112.58% 92.03% 88.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $80.44K $74.28K $70.00K
YoY Change 8.29% -21.28% -22.22%
% of Gross Profit 5.09% 4.54% 5.15%
Operating Expenses $1.781M $1.506M $1.210M
YoY Change 18.26% -9.54% -27.11%
Operating Profit -$199.0K $130.5K $150.0K
YoY Change -252.51% -141.13% 1400.0%
Interest Expense $633.00 -$2.051K $0.00
YoY Change -130.86% -132.06%
% of Operating Profit -1.57% 0.0%
Other Income/Expense, Net $100.0K
YoY Change
Pretax Income -$98.33K $128.4K $150.0K
YoY Change -176.58% -141.32% 650.0%
Income Tax $1.031K $1.477K $0.00
% Of Pretax Income 1.15% 0.0%
Net Earnings -$99.36K $126.9K $160.0K
YoY Change -178.28% -140.85% 700.0%
Net Earnings / Revenue -2.28% 2.44% 4.05%
Basic Earnings Per Share -$0.01 $0.02
Diluted Earnings Per Share -$0.01 $0.02 $21.62K
COMMON SHARES
Basic Shares Outstanding 8.844M 7.405M 7.405M
Diluted Shares Outstanding 8.844M 7.409M

Balance Sheet

Concept 2021 Q3 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.233M $3.450M $4.000M
YoY Change 109.66% 159.4% 79.37%
Cash & Equivalents $7.233M $3.450M $3.999M
Short-Term Investments
Other Short-Term Assets $650.1K $470.0K $270.0K
YoY Change 38.32% 104.35% 107.69%
Inventory $7.292M $5.297M $5.539M
Prepaid Expenses
Receivables $2.120M $3.229M $2.317M
Other Receivables $0.00 $10.00K $10.00K
Total Short-Term Assets $17.30M $12.46M $12.14M
YoY Change 38.84% 7.39% -6.02%
LONG-TERM ASSETS
Property, Plant & Equipment $1.258M $1.174M $983.6K
YoY Change 7.12% 22.38% 10.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.686M $9.652M $9.459M
YoY Change 0.35% 0.34% 0.3%
Total Long-Term Assets $10.94M $10.83M $10.44M
YoY Change 1.09% 2.34% 1.18%
TOTAL ASSETS
Total Short-Term Assets $17.30M $12.46M $12.14M
Total Long-Term Assets $10.94M $10.83M $10.44M
Total Assets $28.24M $23.28M $22.58M
YoY Change 21.29% 4.98% -2.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.023M $939.0K $827.7K
YoY Change 8.95% 64.1% -42.38%
Accrued Expenses $653.9K $849.4K $580.1K
YoY Change -23.02% 19.37% -10.82%
Deferred Revenue $616.6K $544.3K $423.6K
YoY Change 13.29% -11.75% -34.37%
Short-Term Debt $0.00 $506.7K $506.7K
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.591M $3.119M $2.615M
YoY Change -16.93% 43.83% -12.77%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.670M $4.730M $4.810M
YoY Change -1.28% -7.25% -6.96%
Total Long-Term Liabilities $4.670M $4.728M $4.809M
YoY Change -1.24% -7.3% -6.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.591M $3.119M $2.615M
Total Long-Term Liabilities $4.670M $4.728M $4.809M
Total Liabilities $7.261M $7.847M $7.424M
YoY Change -7.48% 7.96% -9.05%
SHAREHOLDERS EQUITY
Retained Earnings $8.631M $8.363M $8.236M
YoY Change 3.2% -0.33% -5.35%
Common Stock $12.35M $7.073M $6.920M
YoY Change 74.59% 8.51% 8.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $20.98M $15.44M $15.16M
YoY Change
Total Liabilities & Shareholders Equity $28.24M $23.28M $22.58M
YoY Change 21.29% 4.98% -2.82%

Cashflow Statement

Concept 2021 Q3 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income -$99.36K $126.9K $160.0K
YoY Change -178.28% -140.85% 700.0%
Depreciation, Depletion And Amortization $80.44K $74.28K $70.00K
YoY Change 8.29% -21.28% -22.22%
Cash From Operating Activities -$928.1K -$180.9K $1.460M
YoY Change 413.04% -70.93% -439.53%
INVESTING ACTIVITIES
Capital Expenditures $57.19K $265.0K -$30.00K
YoY Change -78.42% 61.7% -57.14%
Acquisitions
YoY Change
Other Investing Activities -$95.73K -$100.0K $0.00
YoY Change -4.27% -9.09%
Cash From Investing Activities -$152.9K -$368.6K -$40.00K
YoY Change -58.51% 33.29% -42.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.364M 510.0K
YoY Change
NET CHANGE
Cash From Operating Activities -928.1K -180.9K 1.460M
Cash From Investing Activities -152.9K -368.6K -40.00K
Cash From Financing Activities 1.364M 510.0K
Net Change In Cash 283.0K -549.5K 1.930M
YoY Change -151.51% -38.87% -486.0%
FREE CASH FLOW
Cash From Operating Activities -$928.1K -$180.9K $1.460M
Capital Expenditures $57.19K $265.0K -$30.00K
Free Cash Flow -$985.3K -$445.9K $1.490M
YoY Change 120.97% -43.28% -513.89%

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CY2021Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
5621228
CY2021Q3 us-gaap Inventory Gross
InventoryGross
9032987
CY2021Q2 us-gaap Inventory Gross
InventoryGross
7688800
CY2021Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1740784
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4365067
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5208295
CY2021Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
153221
CY2020Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
111030
CY2020Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
593920
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-99359
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
126928
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8843946
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7404831
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3854
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8843946
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7408685
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1500528
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2750176
CY2021Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2021Q3 koss Lease Extension Per Year
LeaseExtensionPerYear
380000
CY2021Q3 us-gaap Loss Contingency New Claims Filed Number
LossContingencyNewClaimsFiledNumber
0

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