2023 Q3 Form 10-Q Financial Statement

#000112479623000078 Filed on August 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $50.63M $53.30M
YoY Change -15.74% -12.37%
Cost Of Revenue $40.70M $41.20M
YoY Change -12.7% -9.34%
Gross Profit $9.938M $12.11M
YoY Change -26.25% -21.3%
Gross Profit Margin 19.63% 22.71%
Selling, General & Admin $11.73M $11.79M
YoY Change -14.67% -1.04%
% of Gross Profit 117.98% 97.37%
Research & Development $10.74M $12.00M
YoY Change -15.51% -12.94%
% of Gross Profit 108.11% 99.14%
Depreciation & Amortization $3.990M $4.021M
YoY Change -2.3% 5.68%
% of Gross Profit 40.15% 33.21%
Operating Expenses $22.47M $23.79M
YoY Change -15.07% -7.42%
Operating Profit -$12.53M -$11.69M
YoY Change -3.47% 13.27%
Interest Expense $303.0K $350.0K
YoY Change 81.44% 392.96%
% of Operating Profit
Other Income/Expense, Net $536.0K $1.057M
YoY Change -1829.03% -1097.17%
Pretax Income -$11.69M -$10.28M
YoY Change -8.98% -0.71%
Income Tax $187.0K -$1.456M
% Of Pretax Income
Net Earnings -$11.88M -$8.823M
YoY Change -8.31% -14.69%
Net Earnings / Revenue -23.46% -16.55%
Basic Earnings Per Share -$0.26 -$0.19
Diluted Earnings Per Share -$0.26 -$0.19
COMMON SHARES
Basic Shares Outstanding 46.51M shares 45.85M shares
Diluted Shares Outstanding 46.40M shares 45.72M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $111.6M $101.7M
YoY Change -0.7% -15.69%
Cash & Equivalents $52.09M $41.82M
Short-Term Investments $59.51M $59.89M
Other Short-Term Assets $7.000M $7.400M
YoY Change 5.15% 5.76%
Inventory $61.59M $64.94M
Prepaid Expenses
Receivables $35.52M $46.25M
Other Receivables $0.00 $0.00
Total Short-Term Assets $224.4M $229.0M
YoY Change -10.61% -12.4%
LONG-TERM ASSETS
Property, Plant & Equipment $54.13M $57.12M
YoY Change -14.39% -8.23%
Goodwill $12.37M $12.39M
YoY Change 0.44% 0.24%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.651M $6.797M
YoY Change 152.51% 89.86%
Total Long-Term Assets $88.47M $92.92M
YoY Change -9.33% -6.22%
TOTAL ASSETS
Total Short-Term Assets $224.4M $229.0M
Total Long-Term Assets $88.47M $92.92M
Total Assets $312.8M $321.9M
YoY Change -10.25% -10.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.33M $17.57M
YoY Change -27.47% -24.63%
Accrued Expenses $14.18M $14.08M
YoY Change -2.54% 7.19%
Deferred Revenue $2.017M $1.365M
YoY Change 16.19% -32.89%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $33.57M $36.11M
YoY Change -13.33% -13.03%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.012M $3.122M
YoY Change -23.5% -21.75%
Total Long-Term Liabilities $3.012M $3.122M
YoY Change -23.5% -21.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $33.57M $36.11M
Total Long-Term Liabilities $3.012M $3.122M
Total Liabilities $53.31M $56.54M
YoY Change -15.0% -15.14%
SHAREHOLDERS EQUITY
Retained Earnings -$251.1M -$239.2M
YoY Change 25.55% 27.89%
Common Stock $16.00K $16.00K
YoY Change 0.0% 6.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $259.5M $265.4M
YoY Change
Total Liabilities & Shareholders Equity $312.8M $321.9M
YoY Change -10.25% -10.7%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$11.88M -$8.823M
YoY Change -8.31% -14.69%
Depreciation, Depletion And Amortization $3.990M $4.021M
YoY Change -2.3% 5.68%
Cash From Operating Activities $13.15M -$4.107M
YoY Change -571.83% -13.74%
INVESTING ACTIVITIES
Capital Expenditures $2.750M $956.0K
YoY Change -174.73% -111.97%
Acquisitions
YoY Change
Other Investing Activities $400.0K $177.0K
YoY Change -160.24% -100.35%
Cash From Investing Activities -$2.340M -$779.0K
YoY Change -46.13% -98.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -480.0K -1.541M
YoY Change -53.71% 29.06%
NET CHANGE
Cash From Operating Activities 13.15M -4.107M
Cash From Investing Activities -2.340M -779.0K
Cash From Financing Activities -480.0K -1.541M
Net Change In Cash 10.33M -6.427M
YoY Change -226.47% -89.95%
FREE CASH FLOW
Cash From Operating Activities $13.15M -$4.107M
Capital Expenditures $2.750M $956.0K
Free Cash Flow $10.40M -$5.063M
YoY Change 1064.61% -256.89%

Facts In Submission

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300000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
800000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7515000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6680000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13018000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13018000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13233000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13233000 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
43400000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y1M6D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.037
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.036
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
894000 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
965000 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
113000 usd
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
131000 usd
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
248000 usd
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
241000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
1255000 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
1337000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1852000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3442000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2172000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1681000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1671000 usd
CY2023Q2 lasr Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
6809000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
17627000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2425000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
15202000 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3089000 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
12113000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
53304000 usd
CY2023Q2 us-gaap Gross Profit
GrossProfit
12108000 usd
CY2023Q2 lasr Gross Margin
GrossMargin
0.227
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
107395000 usd
us-gaap Gross Profit
GrossProfit
26371000 usd
lasr Gross Margin
GrossMargin
0.246
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
60827000 usd
CY2022Q2 us-gaap Gross Profit
GrossProfit
15385000 usd
CY2022Q2 lasr Gross Margin
GrossMargin
0.253
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
125286000 usd
us-gaap Gross Profit
GrossProfit
31562000 usd
lasr Gross Margin
GrossMargin
0.252
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2746000 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2903000 shares
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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