$KOSS
KOSS CORP

2022 Q2 Form 10-Q Financial Statement

#000005670122000013 Filed on May 06, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $4.192M $4.635M $4.416M
YoY Change -22.67% 16.23% -10.42%
Cost Of Revenue $2.669M $2.671M $2.866M
YoY Change -20.56% 3.95% -13.46%
Gross Profit $1.523M $1.963M $1.550M
YoY Change -26.1% 38.49% -4.22%
Gross Profit Margin 36.32% 42.36% 35.09%
Selling, General & Admin $1.139M $1.566M $1.229M
YoY Change -34.15% -31.04% -23.92%
% of Gross Profit 74.79% 79.79% 79.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $68.34K $64.03K $80.66K
YoY Change -17.28% -8.53% 0.83%
% of Gross Profit 4.49% 3.26% 5.2%
Operating Expenses $1.139M $1.566M $1.229M
YoY Change -34.15% -31.04% -23.92%
Operating Profit $383.8K $396.8K $320.4K
YoY Change 15.94% -146.46% 15355.81%
Interest Expense $3.680K $3.578K $3.626K
YoY Change 283.33% 214.14% 36.32%
% of Operating Profit 0.96% 0.9% 1.13%
Other Income/Expense, Net $0.00 $6.415K $256.0K
YoY Change -98.31% -49.48%
Pretax Income $387.5K $406.8K $580.0K
YoY Change 16.71% -185.8% 13.41%
Income Tax $1.880K $3.575K $1.031K
% Of Pretax Income 0.49% 0.88% 0.18%
Net Earnings $385.6K $403.2K $579.0K
YoY Change 16.17% -185.03% 13.77%
Net Earnings / Revenue 9.2% 8.7% 13.11%
Basic Earnings Per Share $0.04 $0.06
Diluted Earnings Per Share $39.07K $0.04 $0.06
COMMON SHARES
Basic Shares Outstanding 9.148M 9.148M 9.144M
Diluted Shares Outstanding 9.888M 10.06M

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.208M $9.488M $7.789M
YoY Change 32.49% 57.35% 77.42%
Cash & Equivalents $9.208M $9.488M $7.789M
Short-Term Investments
Other Short-Term Assets $188.5K $461.0K $470.6K
YoY Change -58.67% -3.97% 17.64%
Inventory $8.631M $7.751M $7.746M
Prepaid Expenses
Receivables $1.847M $2.316M $1.458M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $19.87M $20.02M $19.47M
YoY Change 27.82% 30.5% 48.07%
LONG-TERM ASSETS
Property, Plant & Equipment $1.088M $1.146M $1.195M
YoY Change -15.08% -12.32% -67.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.992M $7.795M $7.864M
YoY Change -5.29% -18.18% 10.15%
Total Long-Term Assets $10.08M $8.941M $9.060M
YoY Change -6.45% -17.47% -16.04%
TOTAL ASSETS
Total Short-Term Assets $19.87M $20.02M $19.47M
Total Long-Term Assets $10.08M $8.941M $9.060M
Total Assets $29.96M $28.96M $28.53M
YoY Change 13.79% 10.64% 19.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $796.2K $774.5K $866.2K
YoY Change 99.82% -18.5% -21.96%
Accrued Expenses $560.4K $806.5K $751.6K
YoY Change -15.81% -0.55% -43.91%
Deferred Revenue $543.9K $596.0K $606.8K
YoY Change -21.7% 4.89%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.127M $2.480M $2.526M
YoY Change 3.65% -5.19% -18.24%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $5.131M $4.247M $4.297M
YoY Change 9.23% -8.86% -7.79%
Total Long-Term Liabilities $5.131M $4.247M $4.297M
YoY Change 9.23% -8.86% -7.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.127M $2.480M $2.526M
Total Long-Term Liabilities $5.131M $4.247M $4.297M
Total Liabilities $7.258M $6.727M $6.823M
YoY Change 7.54% -7.54% -11.96%
SHAREHOLDERS EQUITY
Retained Earnings $9.998M $9.613M $9.210M
YoY Change 14.53% 14.46%
Common Stock $12.70M $12.62M $12.50M
YoY Change 17.09% 20.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.70M $22.23M $21.71M
YoY Change
Total Liabilities & Shareholders Equity $29.96M $28.96M $28.53M
YoY Change 13.79% 10.64% 19.18%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income $385.6K $403.2K $579.0K
YoY Change 16.17% -185.03% 13.77%
Depreciation, Depletion And Amortization $68.34K $64.03K $80.66K
YoY Change -17.28% -8.53% 0.83%
Cash From Operating Activities -$269.6K -$292.2K $547.4K
YoY Change -134.18% -76.05% -42.98%
INVESTING ACTIVITIES
Capital Expenditures -$10.13K -$22.87K -$17.97K
YoY Change -79.8% -87.29% -82.03%
Acquisitions
YoY Change
Other Investing Activities $0.00 $2.014M -$160.00
YoY Change -100.0%
Cash From Investing Activities -$10.13K $1.991M -$18.12K
YoY Change -81.31% -1271.36% -83.53%
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 0.000 26.30K
YoY Change -100.0% -100.0% -70.78%
NET CHANGE
Cash From Operating Activities -269.6K -292.2K 547.4K
Cash From Investing Activities -10.13K 1.991M -18.12K
Cash From Financing Activities 0.000 0.000 26.30K
Net Change In Cash -279.8K 1.699M 555.6K
YoY Change -130.38% 3.6% -40.9%
FREE CASH FLOW
Cash From Operating Activities -$269.6K -$292.2K $547.4K
Capital Expenditures -$10.13K -$22.87K -$17.97K
Free Cash Flow -$259.5K -$269.3K $565.4K
YoY Change -130.93% -74.1% -46.67%

Facts In Submission

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KOSS CORPORATION
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CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
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us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2021Q1 us-gaap Stockholders Equity
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CY2022Q1 us-gaap Tax Credit Carryforward Amount
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CY2022Q1 us-gaap Deferred Tax Assets Gross
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CY2021Q2 us-gaap Inventory Gross
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CY2022Q1 us-gaap Inventory Valuation Reserves
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CY2021Q2 us-gaap Inventory Valuation Reserves
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2021Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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us-gaap Net Income Loss
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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9044532
us-gaap Weighted Average Number Of Shares Outstanding Basic
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7633722
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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740288
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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979941
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1554280
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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10024473
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
koss Lease Extension Per Year
LeaseExtensionPerYear
380000

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