$LNSR
LENSAR, Inc.

2020 Q3 Form 10-Q Financial Statement

#000156459020053175 Filed on November 12, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q4 2019 Q3
Revenue $6.072M $8.460M $6.955M
YoY Change -12.7%
Cost Of Revenue $3.250M $3.800M $4.790M
YoY Change -32.15%
Gross Profit $3.900M $4.670M $3.280M
YoY Change 18.9%
Gross Profit Margin 64.23% 55.2% 47.16%
Selling, General & Admin $6.290M $4.870M $3.960M
YoY Change 58.84%
% of Gross Profit 161.28% 104.28% 120.73%
Research & Development $2.010M $1.410M $4.330M
YoY Change -53.58%
% of Gross Profit 51.54% 30.19% 132.01%
Depreciation & Amortization $540.0K $870.0K $910.0K
YoY Change -40.66%
% of Gross Profit 13.85% 18.63% 27.74%
Operating Expenses $8.610M $6.590M $8.620M
YoY Change -0.12%
Operating Profit -$4.710M -$1.920M -$5.340M
YoY Change -11.8%
Interest Expense $65.00K -$550.0K -$490.0K
YoY Change -113.27%
% of Operating Profit
Other Income/Expense, Net $0.00 $20.00K $10.00K
YoY Change -100.0%
Pretax Income -$4.760M -$2.470M -$5.820M
YoY Change -18.21%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.763M -$2.470M -$5.818M
YoY Change -18.13%
Net Earnings / Revenue -78.44% -29.2% -83.65%
Basic Earnings Per Share
Diluted Earnings Per Share -$638.1K -$232.4K -$547.5K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.70M
YoY Change
Cash & Equivalents $4.615M
Short-Term Investments
Other Short-Term Assets $740.0K
YoY Change
Inventory $13.69M $8.064M
Prepaid Expenses
Receivables $2.430M $3.384M
Other Receivables $450.0K
Total Short-Term Assets $60.01M $17.18M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $3.830M $720.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.910M $1.009M
YoY Change
Total Long-Term Assets $20.70M $17.35M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $60.01M $17.18M
Total Long-Term Assets $20.70M $17.35M
Total Assets $80.71M $34.54M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.350M $1.577M
YoY Change
Accrued Expenses $3.590M $4.778M
YoY Change
Deferred Revenue $836.0K $777.0K
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.273M $7.829M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $3.490M $310.0K
YoY Change
Total Long-Term Liabilities $3.490M $310.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $8.273M $7.829M
Total Long-Term Liabilities $3.490M $310.0K
Total Liabilities $11.76M $65.09M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$51.17M -$38.19M
YoY Change
Common Stock $120.1M $7.632M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $68.95M -$30.55M -$29.41M
YoY Change
Total Liabilities & Shareholders Equity $80.71M $34.54M
YoY Change

Cashflow Statement

Concept 2020 Q3 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income -$4.763M -$2.470M -$5.818M
YoY Change -18.13%
Depreciation, Depletion And Amortization $540.0K $870.0K $910.0K
YoY Change -40.66%
Cash From Operating Activities -$50.00K -$6.780M -$2.540M
YoY Change -98.03%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$70.00K -$280.0K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $20.00K $0.00
YoY Change
Cash From Investing Activities $20.00K -$70.00K -$280.0K
YoY Change -107.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 37.93M 10.20M 830.0K
YoY Change 4469.88%
NET CHANGE
Cash From Operating Activities -50.00K -6.780M -2.540M
Cash From Investing Activities 20.00K -70.00K -280.0K
Cash From Financing Activities 37.93M 10.20M 830.0K
Net Change In Cash 37.90M 3.350M -1.990M
YoY Change -2004.52%
FREE CASH FLOW
Cash From Operating Activities -$50.00K -$6.780M -$2.540M
Capital Expenditures $0.00 -$70.00K -$280.0K
Free Cash Flow -$50.00K -$6.710M -$2.260M
YoY Change -97.79%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CostOfGoodsSoldForOperatingLeases
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CY2019Q3 lnsr Cost Of Goods Sold For Operating Leases
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us-gaap Interest Expense
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us-gaap Net Income Loss
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us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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us-gaap Use Of Estimates
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<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Accounting Estimates </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of condensed financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed financial statements and accompanying notes to the condensed financial statements. The accounting estimates that require management&#8217;s most significant, difficult and subjective judgments include, but are not limited to, cost allocations from PDL, revenue recognition and allowance for doubtful accounts, the valuation of notes receivable and inventory, the assessment of recoverability of intangible assets and their estimated useful lives, the valuation and recognition of stock-based compensation, operating lease right-of-use assets and liabilities, and the recognition and measurement of current and deferred income tax assets and liabilities. Management evaluates its estimates on an ongoing basis as there are changes in circumstances, facts, and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from these estimates. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company&#8217;s business, results of operations and financial condition, including revenue, expenses, reserves and allowances, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain or treat it, as well as the economic impact on domestic and international customers and markets. The Company has made estimates of the impact of COVID-19 within its condensed financial statements and there may be changes to those estimates in future periods. </p> As of the date of issuance of these unaudited condensed interim financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update estimates, judgments or revise the carrying value of any assets or liabilities.
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us-gaap Lease Income
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us-gaap Lease Income
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2027-11-30
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CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
537000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
552000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2309000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3963000
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
118000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3845000
CY2019Q2 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
2000000
CY2019Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
300000
CY2019 lnsr Milestone Payment
MilestonePayment
300000
CY2020Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
16362000
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3940000
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
16362000
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2996000
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P15Y
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
312000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1240000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1149000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1097000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1085000
CY2020Q3 lnsr Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
7539000
CY2020Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2370000
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3972000
CY2020Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
52000
CY2019Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
58000
CY2020Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1164000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
748000
CY2020Q3 lnsr Contingent Milestone Payments
ContingentMilestonePayments
2400000
us-gaap Common Stock Voting Rights
CommonStockVotingRights
The Company has a single class of common stock in which stockholders are entitled to one vote for each share of common stock.
CY2020Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
CY2019Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q3 lnsr Cumulative Dividends In Excess Of Interest Expense
CumulativeDividendsInExcessOfInterestExpense
0
CY2019Q3 lnsr Cumulative Dividends In Excess Of Interest Expense
CumulativeDividendsInExcessOfInterestExpense
0
lnsr Cumulative Dividends In Excess Of Interest Expense
CumulativeDividendsInExcessOfInterestExpense
0
lnsr Cumulative Dividends In Excess Of Interest Expense
CumulativeDividendsInExcessOfInterestExpense
0
CY2020Q4 lnsr Distribution Record Date
DistributionRecordDate
2020-09-22

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0001564590-20-053175.txt Edgar Link pending
0001564590-20-053175-xbrl.zip Edgar Link pending
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