2024 Q4 Form 10-Q Financial Statement

#000143774924033630 Filed on November 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $11.78M $9.180M
YoY Change 28.29% 3.79%
Cost Of Revenue $6.712M $6.333M
YoY Change 5.99% -6.5%
Gross Profit $5.064M $2.847M
YoY Change 77.87% 37.42%
Gross Profit Margin 43.0% 31.02%
Selling, General & Admin $5.333M $5.594M
YoY Change -4.67% -28.05%
% of Gross Profit 105.3% 196.48%
Research & Development $40.12K
YoY Change -65.13%
% of Gross Profit 1.41%
Depreciation & Amortization $20.79K $19.77K
YoY Change 5.12% -88.22%
% of Gross Profit 0.41% 0.69%
Operating Expenses $5.333M $5.634M
YoY Change -5.35% -28.59%
Operating Profit -$268.6K -$2.787M
YoY Change -90.36% -52.1%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $107.9K $132.2K
YoY Change -18.38% 65.69%
Pretax Income -$160.7K -$2.655M
YoY Change -93.95% -53.73%
Income Tax $5.421K $0.00
% Of Pretax Income
Net Earnings -$166.1K -$2.655M
YoY Change -93.74% -53.73%
Net Earnings / Revenue -1.41% -28.92%
Basic Earnings Per Share -$0.02 -$0.28
Diluted Earnings Per Share -$0.02 -$0.28
COMMON SHARES
Basic Shares Outstanding 10.27M 10.25M 9.344M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.908M $7.326M
YoY Change 7.95% -64.98%
Cash & Equivalents $7.908M $7.137M
Short-Term Investments
Other Short-Term Assets $403.6K $320.3K
YoY Change 26.01% 71.87%
Inventory $6.155M $6.553M
Prepaid Expenses
Receivables $1.808M $2.187M
Other Receivables $219.8K $0.00
Total Short-Term Assets $17.34M $17.60M
YoY Change -1.5% -47.12%
LONG-TERM ASSETS
Property, Plant & Equipment $81.41K $138.6K
YoY Change -41.27% -96.71%
Goodwill $0.00
YoY Change
Intangibles $1.073M $1.269M
YoY Change -15.43% -59.14%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.413M $1.794M
YoY Change -21.22% -87.44%
TOTAL ASSETS
Total Short-Term Assets $17.34M $17.60M
Total Long-Term Assets $1.413M $1.794M
Total Assets $18.75M $19.39M
YoY Change -3.32% -59.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.683M $1.869M
YoY Change -9.98% 126.14%
Accrued Expenses $3.682M $4.060M
YoY Change -9.29% 29.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.537M $6.115M
YoY Change -9.46% 7.43%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $161.6K $278.4K
YoY Change -41.95% -93.26%
Total Long-Term Liabilities $161.6K $278.4K
YoY Change -41.95% -93.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.537M $6.115M
Total Long-Term Liabilities $161.6K $278.4K
Total Liabilities $5.698M $6.394M
YoY Change -10.88% -34.91%
SHAREHOLDERS EQUITY
Retained Earnings -$107.7M -$106.4M
YoY Change 1.2% 32.09%
Common Stock $120.8M $119.4M
YoY Change 1.11% 0.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.05M $13.00M
YoY Change
Total Liabilities & Shareholders Equity $18.75M $19.39M
YoY Change -3.32% -59.22%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$166.1K -$2.655M
YoY Change -93.74% -53.73%
Depreciation, Depletion And Amortization $20.79K $19.77K
YoY Change 5.12% -88.22%
Cash From Operating Activities $305.8K -$3.469M
YoY Change -108.82% -3.55%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$5.720K $321.8K
YoY Change -101.78% 265.25%
Cash From Investing Activities -$5.720K $321.8K
YoY Change -101.78% 355.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 73.57K -3.930K
YoY Change -1972.01%
NET CHANGE
Cash From Operating Activities 305.8K -3.469M
Cash From Investing Activities -5.720K 321.8K
Cash From Financing Activities 73.57K -3.930K
Net Change In Cash 373.7K -3.151M
YoY Change -111.86% -10.63%
FREE CASH FLOW
Cash From Operating Activities $305.8K -$3.469M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y10M28D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
30000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
799188
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.73
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
293250
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.12
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
88288
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
1.76
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1652428
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.44
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y14D
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5108343 usd
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
498041
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.52
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y7D
CY2024Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
800276 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
921657
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.86
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
700000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.89
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
-0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
360317
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.52
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1261340
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.5
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M1D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
75000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
672187
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.69
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y6M10D
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
9000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
540425 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1073698 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
4615246 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y6M18D
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
540425 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1073698 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
4615246 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y6M18D
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
364936 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
818647 usd
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1788566 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P2Y2M15D
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
364936 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
818647 usd
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1788566 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P2Y2M15D
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-166120 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-2654884 usd
us-gaap Net Income Loss
NetIncomeLoss
-1421718 usd
us-gaap Net Income Loss
NetIncomeLoss
-10306040 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10256802
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9337789
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9831927
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9279541
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.11
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2784304
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2716761
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2784304
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2716761
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11776346 usd
CY2024Q3 lsf Revenue Percentage
RevenuePercentage
1 pure
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9179781 usd
CY2023Q3 lsf Revenue Percentage
RevenuePercentage
1 pure
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
31688938 usd
lsf Revenue Percentage
RevenuePercentage
1 pure
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
25016810 usd
lsf Revenue Percentage
RevenuePercentage
1 pure
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11776346 usd
CY2024Q3 lsf Revenue Percentage
RevenuePercentage
1 pure
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9179781 usd
CY2023Q3 lsf Revenue Percentage
RevenuePercentage
1 pure
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
31688938 usd
lsf Revenue Percentage
RevenuePercentage
1 pure
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
25016810 usd
lsf Revenue Percentage
RevenuePercentage
1 pure
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1494469 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1022372 usd
CY2024Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1807756 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
729667 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
427974 usd
CY2024Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
345229 usd

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