2022 Q1 Form 10-Q Financial Statement
#000106299322012181 Filed on May 12, 2022
Income Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| Revenue | $24.23M | $12.90M |
| YoY Change | 87.87% | 71.0% |
| Cost Of Revenue | $14.60M | $6.845M |
| YoY Change | 113.32% | 70.33% |
| Gross Profit | $9.627M | $6.052M |
| YoY Change | 59.07% | 71.76% |
| Gross Profit Margin | 39.74% | 46.93% |
| Selling, General & Admin | $3.271M | $2.682M |
| YoY Change | 21.93% | 9.36% |
| % of Gross Profit | 33.97% | 44.32% |
| Research & Development | $533.7K | $405.1K |
| YoY Change | 31.74% | 4.35% |
| % of Gross Profit | 5.54% | 6.69% |
| Depreciation & Amortization | $276.9K | $236.5K |
| YoY Change | 17.07% | 23.17% |
| % of Gross Profit | 2.88% | 3.91% |
| Operating Expenses | $4.002M | $3.299M |
| YoY Change | 21.32% | 749.85% |
| Operating Profit | $5.625M | $2.753M |
| YoY Change | 104.33% | -12.2% |
| Interest Expense | $6.160K | -$4.010K |
| YoY Change | -253.62% | -53.53% |
| % of Operating Profit | 0.11% | -0.15% |
| Other Income/Expense, Net | $6.157K | |
| YoY Change | ||
| Pretax Income | $5.631M | $2.749M |
| YoY Change | 104.85% | 468.8% |
| Income Tax | $1.408M | $688.0K |
| % Of Pretax Income | 25.01% | 25.03% |
| Net Earnings | $4.223M | $2.061M |
| YoY Change | 104.9% | 468.59% |
| Net Earnings / Revenue | 17.43% | 15.98% |
| Basic Earnings Per Share | $0.73 | |
| Diluted Earnings Per Share | $676.0K | $336.8K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 5.752M shares | 5.430M shares |
| Diluted Shares Outstanding | 6.246M shares | 6.118M shares |
Balance Sheet
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $4.304M | $3.844M |
| YoY Change | 11.96% | 155.74% |
| Cash & Equivalents | $4.246M | $3.786M |
| Short-Term Investments | $58.26K | $58.26K |
| Other Short-Term Assets | $5.442M | $4.770M |
| YoY Change | 14.09% | 114.96% |
| Inventory | $19.92M | $9.930M |
| Prepaid Expenses | ||
| Receivables | $17.74M | $4.161M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $47.41M | $22.70M |
| YoY Change | 108.8% | 57.97% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $4.436M | $3.085M |
| YoY Change | 43.81% | 18.99% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $49.75K | $112.3K |
| YoY Change | -55.69% | 344.99% |
| Total Long-Term Assets | $4.486M | $3.197M |
| YoY Change | 40.31% | 12570.95% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $47.41M | $22.70M |
| Total Long-Term Assets | $4.486M | $3.197M |
| Total Assets | $51.89M | $25.90M |
| YoY Change | 100.35% | 52.45% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $11.41M | $5.707M |
| YoY Change | 99.92% | 41.57% |
| Accrued Expenses | $279.2K | $212.9K |
| YoY Change | 31.14% | 25.21% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $661.1K | $439.8K |
| YoY Change | 50.3% | -53.5% |
| Long-Term Debt Due | $88.17K | |
| YoY Change | ||
| Total Short-Term Liabilities | $16.58M | $8.151M |
| YoY Change | 103.46% | 40.77% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $170.0K | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $1.349M | $292.3K |
| YoY Change | 361.41% | -19.21% |
| Total Long-Term Liabilities | $1.519M | $292.3K |
| YoY Change | 419.55% | -19.21% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $16.58M | $8.151M |
| Total Long-Term Liabilities | $1.519M | $292.3K |
| Total Liabilities | $18.33M | $8.444M |
| YoY Change | 117.11% | 37.24% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | $130.3K | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $33.56M | $17.46M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $51.89M | $25.90M |
| YoY Change | 100.35% | 52.45% |
Cashflow Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $4.223M | $2.061M |
| YoY Change | 104.9% | 468.59% |
| Depreciation, Depletion And Amortization | $276.9K | $236.5K |
| YoY Change | 17.07% | 23.17% |
| Cash From Operating Activities | -$686.7K | $1.109M |
| YoY Change | -161.91% | -388.91% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$260.9K | -$34.27K |
| YoY Change | 661.34% | -61.88% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $35.85K | $0.00 |
| YoY Change | -100.0% | |
| Cash From Investing Activities | -$225.1K | -$34.27K |
| YoY Change | 556.76% | -61.73% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | $255.8K | $0.00 |
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -72.55K | -237.8K |
| YoY Change | -69.49% | -442.81% |
| NET CHANGE | ||
| Cash From Operating Activities | -686.7K | 1.109M |
| Cash From Investing Activities | -225.1K | -34.27K |
| Cash From Financing Activities | -72.55K | -237.8K |
| Net Change In Cash | -984.3K | 837.1K |
| YoY Change | -217.59% | -307.15% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$686.7K | $1.109M |
| Capital Expenditures | -$260.9K | -$34.27K |
| Free Cash Flow | -$425.8K | $1.143M |
| YoY Change | -137.24% | -488.91% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2022Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2021Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2021Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
5673683 | shares |
| CY2022Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
5791683 | shares |
| CY2021Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
5673683 | shares |
| CY2022Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
130280 | USD |
| CY2021Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
130162 | USD |
| CY2022Q1 | us-gaap |
Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
|
228600 | USD |
| CY2022Q1 | us-gaap |
Loans Payable To Bank Current
LoansPayableToBankCurrent
|
88168 | USD |
| CY2021Q4 | us-gaap |
Loans Payable To Bank Current
LoansPayableToBankCurrent
|
83270 | USD |
| CY2022Q1 | us-gaap |
Long Term Loans From Bank
LongTermLoansFromBank
|
169957 | USD |
| CY2021Q4 | us-gaap |
Long Term Loans From Bank
LongTermLoansFromBank
|
189249 | USD |
| CY2021Q4 | us-gaap |
Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
|
228600 | USD |
| CY2022Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
5630812 | USD |
| CY2021Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
2748786 | USD |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5430374 | shares |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
6118129 | shares |
| CY2021Q1 | us-gaap |
Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
|
-1000 | USD |
| CY2022Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
255800 | USD |
| CY2022Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
120240 | USD |
| CY2022Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
255800 | USD |
| CY2021Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | USD |
| CY2022Q1 | us-gaap |
Repayments Of Other Short Term Debt
RepaymentsOfOtherShortTermDebt
|
313958 | USD |
| CY2021Q1 | us-gaap |
Repayments Of Other Short Term Debt
RepaymentsOfOtherShortTermDebt
|
237767 | USD |
| CY2022Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
354 | USD |
| CY2021 | leat |
Note Payable Terms
NotePayableTerms
|
P36M |
