2024 Q4 Form 10-Q Financial Statement

#000084914624000121 Filed on October 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $47.21M
YoY Change -8.08%
Cost Of Revenue $9.491M
YoY Change -6.77%
Gross Profit $37.72M
YoY Change -8.4%
Gross Profit Margin 79.9%
Selling, General & Admin $14.85M
YoY Change -17.34%
% of Gross Profit 39.36%
Research & Development $300.0K
YoY Change 50.0%
% of Gross Profit 0.8%
Depreciation & Amortization $797.0K
YoY Change -13.18%
% of Gross Profit 2.11%
Operating Expenses $35.15M
YoY Change -13.06%
Operating Profit $2.570M
YoY Change 243.12%
Interest Expense $59.00K
YoY Change -15.71%
% of Operating Profit 2.3%
Other Income/Expense, Net $8.000K
YoY Change -90.0%
Pretax Income $2.578M
YoY Change 210.98%
Income Tax $800.0K
% Of Pretax Income 31.03%
Net Earnings $1.826M
YoY Change 190.3%
Net Earnings / Revenue 3.87%
Basic Earnings Per Share $0.15
Diluted Earnings Per Share $0.14
COMMON SHARES
Basic Shares Outstanding 12.53M shares 12.48M shares
Diluted Shares Outstanding 12.82M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.60M
YoY Change -20.72%
Cash & Equivalents $14.60M
Short-Term Investments
Other Short-Term Assets $3.451M
YoY Change -32.86%
Inventory $16.91M
Prepaid Expenses
Receivables $2.968M
Other Receivables $886.0K
Total Short-Term Assets $38.82M
YoY Change -7.36%
LONG-TERM ASSETS
Property, Plant & Equipment $7.477M
YoY Change -19.69%
Goodwill
YoY Change
Intangibles $290.0K
YoY Change -31.28%
Long-Term Investments
YoY Change
Other Assets $685.0K
YoY Change 43.91%
Total Long-Term Assets $22.65M
YoY Change -8.33%
TOTAL ASSETS
Total Short-Term Assets $38.82M
Total Long-Term Assets $22.65M
Total Assets $61.46M
YoY Change -7.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.270M
YoY Change -22.08%
Accrued Expenses $16.75M
YoY Change 2.1%
Deferred Revenue $1.100M
YoY Change 10.0%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $22.07M
YoY Change -10.64%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $225.0K
YoY Change 49.01%
Total Long-Term Liabilities $225.0K
YoY Change 49.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.07M
Total Long-Term Liabilities $225.0K
Total Liabilities $33.76M
YoY Change -9.51%
SHAREHOLDERS EQUITY
Retained Earnings -$108.5M
YoY Change 4.35%
Common Stock $137.3M
YoY Change 1.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $27.70M
YoY Change
Total Liabilities & Shareholders Equity $61.46M
YoY Change -7.72%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $1.826M
YoY Change 190.3%
Depreciation, Depletion And Amortization $797.0K
YoY Change -13.18%
Cash From Operating Activities -$583.0K
YoY Change -112.24%
INVESTING ACTIVITIES
Capital Expenditures $349.0K
YoY Change -69.2%
Acquisitions
YoY Change
Other Investing Activities $4.000K
YoY Change
Cash From Investing Activities -$345.0K
YoY Change -69.55%
FINANCING ACTIVITIES
Cash Dividend Paid $500.0K
YoY Change -90.96%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.828M
YoY Change -72.59%
NET CHANGE
Cash From Operating Activities -$583.0K
Cash From Investing Activities -$345.0K
Cash From Financing Activities -$1.828M
Net Change In Cash -$2.290M
YoY Change -28.44%
FREE CASH FLOW
Cash From Operating Activities -$583.0K
Capital Expenditures $349.0K
Free Cash Flow -$932.0K
YoY Change -125.66%

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CY2023Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 usd
CY2024Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
349000 usd
CY2023Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1133000 usd
CY2024Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-345000 usd
CY2023Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1133000 usd
CY2024Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1114000 usd
CY2023Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
795000 usd
CY2024Q3 us-gaap Payments Of Dividends
PaymentsOfDividends
500000 usd
CY2023Q3 us-gaap Payments Of Dividends
PaymentsOfDividends
5534000 usd
CY2024Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
347000 usd
CY2023Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
465000 usd
CY2024Q3 lfvn Proceeds From Issuance Of Common Stock Under Employee Stock Purchase Plan
ProceedsFromIssuanceOfCommonStockUnderEmployeeStockPurchasePlan
133000 usd
CY2023Q3 lfvn Proceeds From Issuance Of Common Stock Under Employee Stock Purchase Plan
ProceedsFromIssuanceOfCommonStockUnderEmployeeStockPurchasePlan
126000 usd
CY2024Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1828000 usd
CY2023Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-6668000 usd
CY2024Q3 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
466000 usd
CY2023Q3 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-164000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2290000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3200000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16886000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21605000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14596000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18405000 usd
CY2024Q3 us-gaap Interest Paid Net
InterestPaidNet
8000 usd
CY2023Q3 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2024Q3 us-gaap Income Taxes Paid
IncomeTaxesPaid
1999000 usd
CY2023Q3 us-gaap Income Taxes Paid
IncomeTaxesPaid
168000 usd
CY2024Q3 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company prepares the condensed consolidated financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America ("GAAP"). In preparing these statements, the Company is required to use estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates and assumptions. On an ongoing basis, the Company reviews its estimates, including, but not limited to, those related to inventory valuation and obsolescence, sales returns, income taxes and tax valuation reserves, transfer pricing methodology and positions, impairment of assets, share-based compensation, and loss contingencies.</span></div>
CY2024Q3 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-40000 usd
CY2023Q3 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-100000 usd
CY2024Q3 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accounting guidance for financial instruments requires disclosure of significant concentrations of credit risk regardless of the degree of </span>such risk. Financial instruments with significant credit risk include cash and investments.
CY2024Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 usd
CY2023Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 usd
CY2024Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
14167000 usd
CY2024Q3 lfvn Inventory Finished Goods Percent Of Total Inventory
InventoryFinishedGoodsPercentOfTotalInventory
0.838
CY2024Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
11841000 usd
CY2024Q2 lfvn Inventory Finished Goods Percent Of Total Inventory
InventoryFinishedGoodsPercentOfTotalInventory
0.787
CY2024Q3 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
2747000 usd
CY2024Q3 lfvn Raw Materials Percent Of Total Inventory
RawMaterialsPercentOfTotalInventory
0.162
CY2024Q2 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
3214000 usd
CY2024Q2 lfvn Raw Materials Percent Of Total Inventory
RawMaterialsPercentOfTotalInventory
0.213
CY2024Q3 us-gaap Inventory Net
InventoryNet
16914000 usd
CY2024Q3 lfvn Inventory Percent Of Total Inventory
InventoryPercentOfTotalInventory
1.000
CY2024Q2 us-gaap Inventory Net
InventoryNet
15055000 usd
CY2024Q2 lfvn Inventory Percent Of Total Inventory
InventoryPercentOfTotalInventory
1.000
CY2024Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1000000.0 usd
CY2024Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1300000 usd
CY2024Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1100000 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
900000 usd
CY2024Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
200000 usd
CY2023Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-200000 usd
CY2024Q3 lfvn Money Back Guarantee Period
MoneyBackGuaranteePeriod
P30D
CY2024Q3 lfvn Money Back Guarantee Period
MoneyBackGuaranteePeriod
P30D
CY2024Q3 lfvn Contracts With Customers Return Period For Resalable And Restockable Items
ContractsWithCustomersReturnPeriodForResalableAndRestockableItems
P12M
CY2024Q3 lfvn Contracts With Customers Refund Percent For Resalable And Restockable Items
ContractsWithCustomersRefundPercentForResalableAndRestockableItems
1
CY2024Q3 lfvn Handling And Restocking Fee Percentage
HandlingAndRestockingFeePercentage
0.10
CY2024Q3 lfvn Return Liability Reserve
ReturnLiabilityReserve
100000 usd
CY2024Q2 lfvn Return Liability Reserve
ReturnLiabilityReserve
100000 usd
CY2024Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
300000 usd
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
200000 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
800000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000 usd
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000 shares
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
1826000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
629000 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12162000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12537000 shares
CY2024Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
662000 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
572000 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12824000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13109000 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2024Q3 lfvn Number Of Geographic Segments
NumberOfGeographicSegments
2 region
CY2024Q3 lfvn Number Of Geographic Segments
NumberOfGeographicSegments
2 region
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
47214000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
51364000 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y7M13D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0346
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y10M24D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0346
CY2024Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
500000 usd
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
600000 usd
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
470000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
530000 usd
CY2024Q3 us-gaap Variable Lease Cost
VariableLeaseCost
41000 usd
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
48000 usd
CY2024Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
5000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
12000 usd
CY2024Q3 us-gaap Lease Cost
LeaseCost
516000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
590000 usd
CY2024Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
530000 usd
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
557000 usd
CY2024Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2023Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1502000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1631000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2210000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2202000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2076000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1772000 usd
CY2024Q3 lfvn Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
4622000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
14513000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1150000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
13363000 usd
CY2024Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2023Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2022Q1 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
35000000.0 usd
CY2022Q1 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
60000000.0 usd
CY2024Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
100000 shares
CY2024Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1100000 usd
CY2023Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
100000 shares
CY2023Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
800000 usd
CY2024Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
19300000 usd
CY2023Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
1 shares
CY2023Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
1 shares
CY2023Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
20
CY2023Q3 lfvn Class Of Warrant Or Right Percent Of Common Stock Acquisition That Makes Rights Exercisable
ClassOfWarrantOrRightPercentOfCommonStockAcquisitionThatMakesRightsExercisable
0.12
CY2023Q3 lfvn Class Of Warrant Or Right Percent Of Common Stock Acquisition That Makes Rights Exercisable Passive Investors
ClassOfWarrantOrRightPercentOfCommonStockAcquisitionThatMakesRightsExercisablePassiveInvestors
0.20
CY2023Q3 lfvn Class Of Warrants Or Right Discount
ClassOfWarrantsOrRightDiscount
0.50
CY2024Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.04
CY2024Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.04
CY2024Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
500000 usd
CY2023Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
5500000 usd
CY2023Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.435
CY2024Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
22000 shares
CY2023Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
39000 shares
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
900000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1000000.0 usd
CY2024Q3 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
Commitments and Contingencies<div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Contingencies</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company accounts for contingent liabilities in accordance with ASC 450, Contingencies. This guidance requires management to assess potential contingent liabilities that may exist as of the date of the financial statements to determine the probability and amount of loss that may have occurred, which inherently involves an exercise of judgment. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. For loss contingencies considered remote, no accrual or disclosures are generally made. Management has assessed potential contingent liabilities as of September 30, 2024, and based on the assessment, there are no probable loss contingencies requiring accrual or disclosures within its financial statements.</span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Legal Accruals</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to commitments and obligations in the ordinary course of business, from time to time, the Company is subject to various claims, pending and potential legal actions, investigations relating to governmental laws and regulations and other matters arising out of the normal conduct of its business. Management assesses contingencies to determine the degree of probability and range of possible loss for potential accrual in the consolidated financial statements. An estimated loss contingency is accrued in the consolidated financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Because evaluating legal claims and litigation results are inherently unpredictable and unfavorable results could occur, assessing contingencies is highly subjective and requires judgments about future events. When evaluating contingencies, management may be unable to provide a meaningful estimate due to a number of factors, including the procedural status of the matter in question, the presence of complex or novel legal theories, and/or the ongoing discovery and development of information important to the matters. In addition, damage amounts claimed or asserted against the Company may be unsupported, exaggerated or unrelated to possible outcomes, and as such are not meaningful indicators of a potential liability. Management regularly reviews contingencies to determine the adequacy of financial statement accruals and related disclosures. The amount of ultimate loss may differ from these estimates. It is possible that cash flows or results of operations could be materially affected in any particular period by the unfavorable publicity or resolution of one or more of these contingencies. Whether any losses finally determined in any claim, action, investigation or proceeding or publicity related to such could reasonably have a material effect on the Company's business, financial condition, results of operations or cash flows will depend on a number of variables, including: the timing and amount of such losses; the structure and type of any remedies; the significance of the impact of any such losses, damages or remedies may have on the consolidated financial statements; and the unique facts and circumstances of the particular matter that may give rise to additional factors.</span></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other Matters.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"> </span>In addition to the matters described above, the Company also may become involved in other litigation and regulatory matters incidental to its business and the matters disclosed in this quarterly report on Form 10-Q, including, but not limited to, product liability claims, regulatory actions, employment matters and commercial disputes. The Company intends to defend itself in any such matters and does not currently believe that the outcome of any such matters will have a material adverse effect on the Company's business, financial condition, results of operations and cash flows.
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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