2024 Q3 Form 10-Q Financial Statement

#000071973324000131 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $131.6M
YoY Change -19.1%
Cost Of Revenue $118.3M
YoY Change -20.48%
Gross Profit $13.30M
YoY Change -4.28%
Gross Profit Margin 10.11%
Selling, General & Admin $6.570M
YoY Change -10.77%
% of Gross Profit 49.39%
Research & Development $2.289M
YoY Change -11.04%
% of Gross Profit 17.21%
Depreciation & Amortization $3.011M
YoY Change 8.04%
% of Gross Profit 22.63%
Operating Expenses $8.859M
YoY Change -10.84%
Operating Profit $4.400M
YoY Change 11.06%
Interest Expense -$3.263M
YoY Change 10.95%
% of Operating Profit -74.16%
Other Income/Expense, Net
YoY Change
Pretax Income $1.181M
YoY Change -7.88%
Income Tax $57.00K
% Of Pretax Income 4.83%
Net Earnings $1.124M
YoY Change 5.84%
Net Earnings / Revenue 0.85%
Basic Earnings Per Share $0.10
Diluted Earnings Per Share $0.10
COMMON SHARES
Basic Shares Outstanding 10.76M shares
Diluted Shares Outstanding 10.76M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.555M
YoY Change 81.93%
Cash & Equivalents $6.600M
Short-Term Investments
Other Short-Term Assets $28.27M
YoY Change 0.33%
Inventory $95.85M
Prepaid Expenses
Receivables $157.6M
Other Receivables $0.00
Total Short-Term Assets $288.3M
YoY Change -17.94%
LONG-TERM ASSETS
Property, Plant & Equipment $27.91M
YoY Change -31.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.735M
YoY Change -75.8%
Total Long-Term Assets $67.65M
YoY Change -1.6%
TOTAL ASSETS
Total Short-Term Assets $288.3M
Total Long-Term Assets $67.65M
Total Assets $355.9M
YoY Change -15.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $83.77M
YoY Change -29.02%
Accrued Expenses $8.670M
YoY Change -35.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $3.057M
YoY Change -56.93%
Total Short-Term Liabilities $112.1M
YoY Change -26.73%
LONG-TERM LIABILITIES
Long-Term Debt $109.7M
YoY Change -7.28%
Other Long-Term Liabilities $124.0K
YoY Change -99.3%
Total Long-Term Liabilities $119.4M
YoY Change -12.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $112.1M
Total Long-Term Liabilities $119.4M
Total Liabilities $231.6M
YoY Change -19.99%
SHAREHOLDERS EQUITY
Retained Earnings $78.05M
YoY Change -5.95%
Common Stock $47.35M
YoY Change -0.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $124.3M
YoY Change
Total Liabilities & Shareholders Equity $355.9M
YoY Change -15.27%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income $1.124M
YoY Change 5.84%
Depreciation, Depletion And Amortization $3.011M
YoY Change 8.04%
Cash From Operating Activities $9.947M
YoY Change 76.9%
INVESTING ACTIVITIES
Capital Expenditures $377.0K
YoY Change -28.46%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$377.0K
YoY Change -121.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$7.767M
YoY Change 5.33%
NET CHANGE
Cash From Operating Activities $9.947M
Cash From Investing Activities -$377.0K
Cash From Financing Activities -$7.767M
Net Change In Cash $1.803M
YoY Change -6317.24%
FREE CASH FLOW
Cash From Operating Activities $9.947M
Capital Expenditures $377.0K
Free Cash Flow $9.570M
YoY Change 87.79%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4752000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6555000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3574000 usd
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3303000 usd
CY2023Q3 us-gaap Interest Paid Net
InterestPaidNet
3042000 usd
CY2024Q3 us-gaap Income Taxes Paid Net
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228000 usd
CY2023Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1168000 usd
CY2024Q3 us-gaap Net Income Loss
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1124000 usd
CY2023Q3 us-gaap Stockholders Equity
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131068000 usd
CY2024Q3 us-gaap Fiscal Period
FiscalPeriod
<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s reporting period is a 52/53 week fiscal year ending on the Saturday closest to June 30. The three month periods ended September 28, 2024 and September 30, 2023, were both 13 week periods. Fiscal year 2025 will end on June 28, 2025, which is a 52 week year. Fiscal year 2024 which ended on June 29, 2024, was also a 52 week year.</span></div>
CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
4400000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
1100000 usd
CY2024Q3 ktcc Operating Working Capital
OperatingWorkingCapital
176100000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6600000 usd
CY2024Q3 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div>Certain prior period reclassifications were made to conform with the current period presentation.
CY2024Q3 us-gaap Inventory Net
InventoryNet
95800000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
105100000 usd
CY2024Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
71286000 usd
CY2024Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
80570000 usd
CY2024Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
24559000 usd
CY2024Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
24529000 usd
CY2024Q3 us-gaap Inventory Net
InventoryNet
95845000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
105099000 usd
CY2024Q3 us-gaap Debt Instrument Carrying Amount
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CY2024Q2 us-gaap Debt Instrument Carrying Amount
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120564000 usd
CY2024Q3 us-gaap Long Term Debt Current
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3057000 usd
CY2024Q2 us-gaap Long Term Debt Current
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3123000 usd
CY2024Q3 us-gaap Deferred Finance Costs Net
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1046000 usd
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1059000 usd
CY2024Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
109675000 usd
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
116382000 usd
CY2021Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
120000000 usd
CY2024Q3 us-gaap Line Of Credit
LineOfCredit
101500000 usd
CY2024Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
400000 usd
CY2024Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
18500000 usd
CY2024Q2 us-gaap Line Of Credit
LineOfCredit
107100000 usd
CY2024Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
300000 usd
CY2024Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
12900000 usd
CY2020Q4 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.0552
CY2020Q3 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.0485
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2353000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
103557000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
6020000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1032000 usd
CY2024Q3 ktcc Long Term Debt Maturities Repayments Of Principal After Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearThree
816000 usd
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
113778000 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
1046000 usd
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
112732000 usd
CY2024Q3 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
8200000 usd
CY2024Q3 ktcc Estimated Federal And State Income Taxes And Potential Withholding Taxes
EstimatedFederalAndStateIncomeTaxesAndPotentialWithholdingTaxes
800000 usd
CY2024Q3 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
10600000 usd
CY2024Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2800000 usd
CY2024Q3 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
7800000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
1124000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
335000 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10762000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10762000 shares
CY2024Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
241000 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10762000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11003000 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
136000 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
270000 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1018265 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2024Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P5Y
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M6D
CY2024Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
26000 usd
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
164000 usd
CY2024Q3 us-gaap Insured Event Gain Loss
InsuredEventGainLoss
0 usd
CY2023Q3 us-gaap Insured Event Gain Loss
InsuredEventGainLoss
400000 usd
CY2024Q3 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
-1400000 usd
CY2020Q3 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
776500 usd
CY2024Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
21250000 usd
CY2024Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
122582000 usd
CY2024Q3 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
120206000 usd
CY2024Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
23626000 usd
CY2024Q3 us-gaap Revenues
Revenues
131558000 usd
CY2023Q3 us-gaap Revenues
Revenues
150112000 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0400
CY2024Q3 us-gaap Lease Cost
LeaseCost
2883000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
2644000 usd
CY2024Q3 us-gaap Variable Lease Cost
VariableLeaseCost
2574000 usd
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
1547000 usd
CY2024Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
309000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1097000 usd
CY2024Q3 us-gaap Lease Cost
LeaseCost
2883000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
2644000 usd
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
14612000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
15416000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
14612000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
15416000 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y9M18D
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y11M19D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0400
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0400
CY2024Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2831000 usd
CY2024Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
3569000 usd
CY2024Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1883000 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
2128000 usd
CY2024Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y1M6D
CY2024Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y21D
CY2024Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.1153
CY2024Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.1118
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5000000.0 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
9600000 usd
CY2024Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2800000 usd
CY2024Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
100000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3832000 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
1572000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4288000 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
563000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3404000 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
0 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2324000 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1051000 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2024Q3 ktcc Lessee Operating Lease Liability To Be Paid Due After Year Four
LesseeOperatingLeaseLiabilityToBePaidDueAfterYearFour
822000 usd
CY2024Q3 ktcc Finance Lease Liability To Be Paid Due After Year Four
FinanceLeaseLiabilityToBePaidDueAfterYearFour
0 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
15721000 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
2135000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1109000 usd
CY2024Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
252000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
14612000 usd
CY2024Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1883000 usd
CY2024Q3 us-gaap Line Of Credit
LineOfCredit
101500000 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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