$LDWY
LENDWAY, INC.

2024 Q3 Form 10-Q Financial Statement

#000165495424010840 Filed on August 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q4
Revenue $6.628M $16.78M
YoY Change 170.17%
Cost Of Revenue $5.188M $12.80M
YoY Change 179.05%
Gross Profit $1.440M $3.977M
YoY Change 145.04%
Gross Profit Margin 21.73% 23.7%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $436.0K $424.0K
YoY Change -1995.65% 3433.33%
% of Gross Profit 30.28% 10.66%
Operating Expenses
YoY Change
Operating Profit -$1.351M -$118.0K
YoY Change -17.27% -29.34%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $3.000K $9.000K
YoY Change -40.0%
Pretax Income -$2.194M -$1.082M
YoY Change 44.15% -4.75%
Income Tax -$736.0K -$201.0K
% Of Pretax Income
Net Earnings -$1.392M -$817.0K
YoY Change -223.62% 2169.44%
Net Earnings / Revenue -21.0% -4.87%
Basic Earnings Per Share -$0.42
Diluted Earnings Per Share -$0.64 -$0.42
COMMON SHARES
Basic Shares Outstanding 1.770M shares 1.770M shares 1.746M shares
Diluted Shares Outstanding 1.770M shares 1.770M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.333M $1.721M $16.08M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $15.49M $6.973M $0.00
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $20.58M $13.75M $16.62M
YoY Change 17.04% -29.69% -19.91%
LONG-TERM ASSETS
Property, Plant & Equipment $11.54M $11.42M $35.00K
YoY Change 28041.46% 15988.73% -50.7%
Goodwill $10.47M $10.17M $0.00
YoY Change
Intangibles $25.95M $26.33M $0.00
YoY Change
Long-Term Investments $167.0K $167.0K $0.00
YoY Change
Other Assets $10.00K
YoY Change
Total Long-Term Assets $81.88M $82.15M $52.00K
YoY Change 160441.18% 40168.63% -75.81%
TOTAL ASSETS
Total Short-Term Assets $20.58M $13.75M $16.62M
Total Long-Term Assets $81.88M $82.15M $52.00K
Total Assets $102.5M $95.90M $16.67M
YoY Change 480.9% 385.31% -20.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.679M $2.177M $32.00K
YoY Change 3732.29% 64.43% -98.79%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.063M $7.685M $1.096M
YoY Change 434.69% 69.83% -85.14%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $78.13M $71.71M $45.00K
YoY Change 190463.41% 40187.64% -76.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.063M $7.685M $1.096M
Total Long-Term Liabilities $78.13M $71.71M $45.00K
Total Liabilities $87.19M $79.40M $1.141M
YoY Change 4922.7% 1588.22% -84.92%
SHAREHOLDERS EQUITY
Retained Earnings -$3.464M -$2.447M -$661.0K
YoY Change 927.89% 67.26% -78.5%
Common Stock $17.00K $17.00K $17.00K
YoY Change -5.56% -5.56% -5.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.80M $13.80M $15.53M
YoY Change
Total Liabilities & Shareholders Equity $102.5M $95.90M $16.67M
YoY Change 480.9% 385.31% -20.48%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income -$1.392M -$817.0K
YoY Change -223.62% 2169.44%
Depreciation, Depletion And Amortization $436.0K $424.0K
YoY Change -1995.65% 3433.33%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Entity File Number
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dei Entity Registrant Name
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LENDWAY, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
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dei Entity Address Address Line1
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5000 West 36th Street
dei Entity Address Address Line2
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dei Security12b Title
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;"><strong><em>Use of Estimates.</em></strong> The preparation of condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. The key estimates made by management include the determination of fair values in conjunction with the acquisition of our majority interest in Bloomia, and the carrying value of inventories, right-of-use assets and lease liabilities, useful lives for property and equipment and intangible assets, and value of income taxes. Actual results could differ from these estimates.</p>
us-gaap Revenue Recognition Leases
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;"><strong><em>Revenue Recognition.</em></strong><em> </em>The Company accounts for revenue in accordance with FASB Topic 606, “Revenue from Contracts with Customers,” (ASC 606), using the following steps:</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:4%;vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;">Identify the contract or contracts, with a customer;</td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;">Identify the performance obligations in the contract;</td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;">Determine the transaction price;</td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;">Allocate the transaction price to performance obligations in the contract; and</td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;">Recognize revenue when or as the Company satisfies a performance obligation.</td></tr></tbody></table><p style="font-size:10pt;font-family:times new roman;margin:0px">  </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;">The Company recognizes revenue when obligations under the terms of a contract with its customer are satisfied; this occurs with the transfer of control of its tulips. Revenue is measured as the amount of consideration expected to be received in exchange for transferring products. Revenue from product sales is governed primarily by customer pricing and related purchase orders (“contracts”) which specify shipping terms and the transaction price. Contracts are at standalone pricing. The performance obligation in these contracts is determined by each of the individual purchase orders and the respective stated quantities, with revenue being recognized at a point in time when obligations under the terms of the agreement are satisfied. This generally occurs with the transfer of control of tulips to the customer and the product is delivered. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;">The Company expenses the incremental costs of obtaining a contract, if the amortization period is one year or less.  These costs are included in sales and marketing expense in the Condensed Consolidated Statements of Operations.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;">  </p><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 45px">The following table presents revenue disaggregated by customer, as determined by the operational nature of their industry:</p><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 45px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 45px"> </p><table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in"><strong>Three Months Ended</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in"><strong>Six Months Ended</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>June 30, 2024</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>June 30, 2024</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Supermarket</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">15,406,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">23,015,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Wholesaler</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">931,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1,286,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Other</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">443,000</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">512,000</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">16,780,000</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">24,813,000</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0.25in; text-align:center;">   </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;">During the six months ended June 30, 2024, the Company had two customers that account for 10% or more of the total revenues. These two customers accounted for approximately 47% and 17% of revenues, respectively, for the six months ended June 30, 2024. As of June 30, 2024, approximately $1.4 million was due from these two customers. The loss of a major customer could adversely affect the Company’s operating results and financial condition.</p>
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OptionToPuchaseSharesOfCommonStock
14000 shares
CY2024Q2 ldwy Weighted Average Exercise Price
WeightedAverageExercisePrice
11.74
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1542000 usd
CY2024Q2 ldwy Equity Investment Carrying Amount
EquityInvestmentCarryingAmount
167000 usd
CY2024Q2 ldwy Note Receivable Balance
NoteReceivableBalance
165000 usd
CY2024Q2 ldwy Sale Price Of The Ownership Interest
SalePriceOfTheOwnershipInterest
2500000 usd
CY2024Q2 ldwy Loan Principal Amount
LoanPrincipalAmount
2500000 usd
ldwy Rent Owed Amount
RentOwedAmount
150000 usd
CY2024Q2 ldwy Loan Balance
LoanBalance
250000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
0 usd
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
10122000 usd
ldwy Goodwill Measurement Period Adjustment
GoodwillMeasurementPeriodAdjustment
50000 usd
CY2024Q2 us-gaap Goodwill
Goodwill
10172000 usd
us-gaap Prior Period Reclassification Adjustment
PriorPeriodReclassificationAdjustment
50000 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
381000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
539000 usd
ldwy Finite Lived Intangible Assets Remaining Amortization Period
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod
P11Y7M6D
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
763000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1525000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1525000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1525000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1525000 usd
CY2024Q2 ldwy Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
10898000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
17761000 usd
CY2024Q2 ldwy Credit Agreement Term Loan
CreditAgreementTermLoan
17550000 usd
CY2024Q2 us-gaap Notes Payable
NotesPayable
12750000 usd
CY2024Q2 ldwy Credit Agreement Revolving Credit Facility
CreditAgreementRevolvingCreditFacility
935000 usd
CY2024Q2 ldwy Paid Interest
PaidInterest
536000 usd
CY2024Q2 ldwy Debt Amount Payable
DebtAmountPayable
31771000 usd
CY2024Q2 ldwy Unamortized Debt Issuance Costs
UnamortizedDebtIssuanceCosts
-355000 usd
CY2024Q2 ldwy Debt Gross Amount
DebtGrossAmount
31416000 usd
CY2024Q2 ldwy Current Maturities
CurrentMaturities
-1800000 usd
CY2024Q2 ldwy Long Term Debt Net Of Current Maturities
LongTermDebtNetOfCurrentMaturities
29616000 usd
ldwy Term Loan Borrower
TermLoanBorrower
18000000 usd
us-gaap Line Of Credit Facility Periodic Payment
LineOfCreditFacilityPeriodicPayment
6000000 usd
ldwy Quarterly Term Loan Installments Repayment
QuarterlyTermLoanInstallmentsRepayment
450000 usd
us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2029-02-20
CY2024Q2 ldwy Unamortized Debt Issuance Cost
UnamortizedDebtIssuanceCost
355000 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
30000 usd
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
119000 usd
CY2024Q2 ldwy Net Of Amortization Prepaid Expenses
NetOfAmortizationPrepaidExpenses
9000 usd
ldwy Other Income Expenses Debt
OtherIncomeExpensesDebt
464000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
536000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
900000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1800000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1800000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1800000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1800000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
23671000 usd
CY2024Q2 ldwy Long Term Debt Maturities Repayments Of Total Principal Amount
LongTermDebtMaturitiesRepaymentsOfTotalPrincipalAmount
31771000 usd
ldwy Finance Lease Weighted Average Remaining Lease Term
FinanceLeaseWeightedAverageRemainingLeaseTerm
P1Y4M6D
ldwy Operating Lease Weighted Average Remaining Lease Term
OperatingLeaseWeightedAverageRemainingLeaseTerm
P14Y4M9D
CY2024Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0395 pure
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0822 pure
CY2024Q2 us-gaap Operating Lease Cost
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1055000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1504000 usd
CY2024Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
258000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
344000 usd
CY2024Q2 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
3000 usd
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
3000 usd
CY2024Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1316000 usd
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1851000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
10000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
25000 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
12000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
20000 usd
CY2023Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
22000 usd
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
45000 usd
CY2023Q2 us-gaap Capital Expenditure Discontinued Operations
CapitalExpenditureDiscontinuedOperations
22000 usd
us-gaap Capital Expenditure Discontinued Operations
CapitalExpenditureDiscontinuedOperations
45000 usd
CY2024Q2 ldwy Cash Outflows From Operating Leases
CashOutflowsFromOperatingLeases
909000 usd
ldwy Cash Outflows From Operating Leases
CashOutflowsFromOperatingLeases
1228000 usd
CY2024Q2 ldwy Cash Outflows From Finance Leases
CashOutflowsFromFinanceLeases
3000 usd
ldwy Cash Outflows From Finance Leases
CashOutflowsFromFinanceLeases
3000 usd
CY2024Q2 ldwy Leased Assets Obtained In Exchange For Operating Lease Liabilities
LeasedAssetsObtainedInExchangeForOperatingLeaseLiabilities
0 usd
ldwy Leased Assets Obtained In Exchange For Operating Lease Liabilities
LeasedAssetsObtainedInExchangeForOperatingLeaseLiabilities
34289000 usd
CY2024Q2 ldwy Leased Assets Obtained In Exchange For Finance Lease Liabilities
LeasedAssetsObtainedInExchangeForFinanceLeaseLiabilities
0 usd
ldwy Leased Assets Obtained In Exchange For Finance Lease Liabilities
LeasedAssetsObtainedInExchangeForFinanceLeaseLiabilities
22000 usd
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
0 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
10000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1843000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
9000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3758000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
11000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3833000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3909000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3806000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
3827000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
38081000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
59057000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
20000 usd
CY2024Q2 ldwy Discount To Operating Leases
DiscountToOperatingLeases
-25086000 usd
CY2024Q2 ldwy Discount To Finance Lease Liabilities
DiscountToFinanceLeaseLiabilities
-1000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
33971000 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
19000 usd
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.245 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.294 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.047 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.242 pure
ldwy Other Permanent Items
OtherPermanentItems
-0.205 pure
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.125 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.004 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.038 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.242 pure
ldwy Other Permanent Items
OtherPermanentItems
-0.002 pure
CY2024Q2 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
201000 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
548000 usd
ldwy Overall Benefit In Income Tax
OverallBenefitInIncomeTax
548000 usd
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
451000 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
43000 usd
CY2023Q3 ldwy Asset Purchase Obligation
AssetPurchaseObligation
the Company entered into an obligation with a third-party to purchase 25% of their annual production of tulip bulbs through 2028 for $1,650,000 annually, totaling $8,000,000 over the duration of the agreement. In addition, the Company entered into a separate agreement with the same party to supply tulips to that party over a three-year period for a total of $360,000. The Company will be paid in three sums of $120,000 beginning on March 1, 2026, with the final payment to be received on March 1, 2028

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