2024 Q2 Form 10-Q Financial Statement

#000112479624000058 Filed on May 03, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $50.51M $44.53M
YoY Change -5.24% -17.68%
Cost Of Revenue $38.66M $37.04M
YoY Change -6.15% -7.0%
Gross Profit $11.85M $7.488M
YoY Change -2.13% -47.5%
Gross Profit Margin 23.46% 16.82%
Selling, General & Admin $12.80M $11.55M
YoY Change 8.6% 3.38%
% of Gross Profit 108.05% 154.21%
Research & Development $11.74M $10.66M
YoY Change -2.23% -5.68%
% of Gross Profit 99.04% 142.35%
Depreciation & Amortization $4.088M $3.135M
YoY Change 1.67% 0.97%
% of Gross Profit 34.5% 41.87%
Operating Expenses $24.54M $22.21M
YoY Change 3.14% -1.17%
Operating Profit -$12.69M -$14.72M
YoY Change 8.59% 79.33%
Interest Expense $459.0K $455.0K
YoY Change 31.14% 35.01%
% of Operating Profit
Other Income/Expense, Net $622.0K $641.0K
YoY Change -41.15% 58.66%
Pretax Income -$11.61M -$13.62M
YoY Change 12.94% 82.45%
Income Tax $120.0K $144.0K
% Of Pretax Income
Net Earnings -$11.73M -$13.77M
YoY Change 32.94% 78.09%
Net Earnings / Revenue -23.22% -30.92%
Basic Earnings Per Share -$0.25 -$0.29
Diluted Earnings Per Share -$0.25 -$0.29
COMMON SHARES
Basic Shares Outstanding 47.57M shares 47.29M shares
Diluted Shares Outstanding 47.66M shares 47.24M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $114.6M $121.1M
YoY Change 12.63% 11.73%
Cash & Equivalents $49.39M $61.31M
Short-Term Investments $65.17M $59.78M
Other Short-Term Assets $6.083M $17.56M
YoY Change -17.8% 248.56%
Inventory $52.32M $53.01M
Prepaid Expenses
Receivables $32.19M $27.55M
Other Receivables $0.00 $0.00
Total Short-Term Assets $212.5M $219.2M
YoY Change -7.19% -6.02%
LONG-TERM ASSETS
Property, Plant & Equipment $49.43M $50.29M
YoY Change -13.47% -14.73%
Goodwill $12.38M $12.38M
YoY Change -0.1% -0.05%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.669M $6.746M
YoY Change -1.88% -11.07%
Total Long-Term Assets $81.80M $83.63M
YoY Change -11.98% -13.35%
TOTAL ASSETS
Total Short-Term Assets $212.5M $219.2M
Total Long-Term Assets $81.80M $83.63M
Total Assets $294.3M $302.8M
YoY Change -8.57% -8.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.36M $13.91M
YoY Change -23.98% -21.67%
Accrued Expenses $12.89M $13.60M
YoY Change -8.44% -7.54%
Deferred Revenue $5.651M $7.583M
YoY Change 313.99% 496.62%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $34.84M $38.26M
YoY Change -3.53% 4.15%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.975M $3.732M
YoY Change 27.32% -14.54%
Total Long-Term Liabilities $3.975M $3.732M
YoY Change 27.32% -14.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $34.84M $38.26M
Total Long-Term Liabilities $3.975M $3.732M
Total Liabilities $54.77M $58.47M
YoY Change -3.13% -3.51%
SHAREHOLDERS EQUITY
Retained Earnings -$289.8M -$278.1M
YoY Change 21.16% 20.71%
Common Stock $16.00K $16.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $239.5M $244.4M
YoY Change
Total Liabilities & Shareholders Equity $294.3M $302.8M
YoY Change -8.57% -8.17%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$11.73M -$13.77M
YoY Change 32.94% 78.09%
Depreciation, Depletion And Amortization $4.088M $3.135M
YoY Change 1.67% 0.97%
Cash From Operating Activities -$4.230M $11.38M
YoY Change 2.99% 1666.3%
INVESTING ACTIVITIES
Capital Expenditures $2.146M $1.556M
YoY Change 124.48% 127.49%
Acquisitions
YoY Change
Other Investing Activities -$5.249M $8.000K
YoY Change -3065.54% -100.09%
Cash From Investing Activities -$7.395M -$1.548M
YoY Change 849.29% -84.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -181.0K -$1.615M
YoY Change -88.25% 4041.03%
NET CHANGE
Cash From Operating Activities -4.230M $11.38M
Cash From Investing Activities -7.395M -$1.548M
Cash From Financing Activities -181.0K -$1.615M
Net Change In Cash -11.81M $8.097M
YoY Change 83.69% -185.93%
FREE CASH FLOW
Cash From Operating Activities -$4.230M $11.38M
Capital Expenditures $2.146M $1.556M
Free Cash Flow -$6.376M $9.819M
YoY Change 25.93% -24647.5%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
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9094000 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
53013000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
52160000 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
148701000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
16504000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
16504000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
15226000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
14852000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1278000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1652000 usd
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
373000 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
654000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
445000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
484000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
349000 usd
CY2024Q1 lasr Finite Lived Intangible Asset Expected Amortization After Year Two
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearTwo
0 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1278000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
12399000 usd
CY2024Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-17000 usd
CY2024Q1 us-gaap Goodwill
Goodwill
12382000 usd
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9386000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7898000 usd
CY2024Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2868000 usd
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3339000 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1345000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1319000 usd
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
13599000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
12556000 usd
CY2023Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4469000 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
5441000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
760000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
782000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
203000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
572000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
3912000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
5231000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
2868000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
2540000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual Noncurrent
StandardProductWarrantyAccrualNoncurrent
1044000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Noncurrent
StandardProductWarrantyAccrualNoncurrent
2691000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1398000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.24
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y6M
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
17142000 usd
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
11000 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.95
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1387000 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.24
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y2M12D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
16316000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1387000 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.24
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y2M12D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
16316000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1387000 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.24
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P2Y2M12D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
16316000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1100000 usd
CY2024Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
10000 usd
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
100000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5431000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5503000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
25500000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y8M12D
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y8M12D
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.039
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
919000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
921000 usd
CY2024Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
69000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
93000 usd
CY2024Q1 us-gaap Variable Lease Cost
VariableLeaseCost
244000 usd
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
225000 usd
CY2024Q1 us-gaap Lease Cost
LeaseCost
1232000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
1239000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2894000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2593000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1932000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1885000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1617000 usd
CY2024Q1 lasr Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
5445000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
16366000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2202000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
14164000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3171000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
10993000 usd
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
44527000 usd
CY2024Q1 us-gaap Gross Profit
GrossProfit
7488000 usd
CY2024Q1 lasr Gross Margin
GrossMargin
0.168
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
54091000 usd
CY2023Q1 us-gaap Gross Profit
GrossProfit
14263000 usd
CY2023Q1 lasr Gross Margin
GrossMargin
0.264
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2308000 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2419000 shares
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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0001124796-24-000058.txt Edgar Link pending
0001124796-24-000058-xbrl.zip Edgar Link pending
exhibit311-q1202410xq.htm Edgar Link pending
exhibit312-q1202410xq.htm Edgar Link pending
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