2022 Q3 Form 10-K Financial Statement

#000143774922022855 Filed on September 21, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022
Revenue $43.13M $52.53M $171.0M
YoY Change 12.49% 18.33% -4.23%
Cost Of Revenue $37.76M $44.24M $140.5M
YoY Change 25.61% 21.32% -5.15%
Gross Profit $5.371M $8.289M $30.51M
YoY Change -35.14% 4.57% 0.22%
Gross Profit Margin 12.45% 15.78% 17.85%
Selling, General & Admin $3.829M $4.513M $16.83M
YoY Change -5.53% 1.83% 0.36%
% of Gross Profit 71.29% 54.45% 55.16%
Research & Development $2.500M
YoY Change 31.58%
% of Gross Profit 8.19%
Depreciation & Amortization $956.0K $847.0K $4.165M
YoY Change -12.45% -17.61% -3.99%
% of Gross Profit 17.8% 10.22% 13.65%
Operating Expenses $3.829M $4.513M $2.500M
YoY Change -5.53% 1.83% 31.58%
Operating Profit $1.542M $3.776M $13.68M
YoY Change -63.53% 8.04% 0.05%
Interest Expense -$218.0K $115.0K $35.00K
YoY Change 1047.37% -221.05% -102.29%
% of Operating Profit -14.14% 3.05% 0.26%
Other Income/Expense, Net -$224.0K -$12.00K -$20.00K
YoY Change 761.54% -1300.0% -98.71%
Pretax Income $1.318M $3.879M $13.66M
YoY Change -68.63% 14.05% 12.65%
Income Tax $265.0K $774.0K $2.947M
% Of Pretax Income 20.11% 19.95% 21.58%
Net Earnings $1.053M $3.105M $10.71M
YoY Change -67.66% 4.83% -0.52%
Net Earnings / Revenue 2.44% 5.91% 6.27%
Basic Earnings Per Share $0.18 $1.75
Diluted Earnings Per Share $0.18 $520.0K $1.74
COMMON SHARES
Basic Shares Outstanding 6.090M 6.150M 6.117M
Diluted Shares Outstanding 5.943M 6.155M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.34M $21.83M $21.83M
YoY Change -38.38% -32.05% -32.05%
Cash & Equivalents $12.34M $21.83M $21.83M
Short-Term Investments
Other Short-Term Assets $6.806M $4.949M $4.949M
YoY Change 109.16% 128.27% 128.27%
Inventory $39.99M $32.48M $32.48M
Prepaid Expenses
Receivables $14.82M $17.42M $17.42M
Other Receivables $445.0K $67.00K $67.00K
Total Short-Term Assets $74.40M $76.75M $76.75M
YoY Change -1.11% -4.48% -4.48%
LONG-TERM ASSETS
Property, Plant & Equipment $51.38M $44.57M $66.27M
YoY Change 30.07% 100.14% 73.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.644M $2.983M $2.983M
YoY Change 19.58% 89.88% 67.11%
Total Long-Term Assets $75.16M $69.26M $69.26M
YoY Change 32.04% 73.43% 73.43%
TOTAL ASSETS
Total Short-Term Assets $74.40M $76.75M $76.75M
Total Long-Term Assets $75.16M $69.26M $69.26M
Total Assets $149.6M $146.0M $146.0M
YoY Change 13.17% 21.38% 21.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.66M $16.19M $16.18M
YoY Change 35.71% 36.09% 36.09%
Accrued Expenses $2.355M $2.787M $6.460M
YoY Change 79.77% 14.17% -8.04%
Deferred Revenue $108.0K $140.0K
YoY Change -94.44% -91.87%
Short-Term Debt $3.400M $0.00 $0.00
YoY Change
Long-Term Debt Due $305.0K $302.0K $302.0K
YoY Change 3.04%
Total Short-Term Liabilities $26.78M $23.26M $23.26M
YoY Change 29.87% 5.39% 5.39%
LONG-TERM LIABILITIES
Long-Term Debt $9.422M $9.493M $9.493M
YoY Change -2.91%
Other Long-Term Liabilities $22.50M $23.51M $23.51M
YoY Change 30.4% 29.7% 29.7%
Total Long-Term Liabilities $31.92M $33.00M $33.00M
YoY Change 18.41% 82.07% 82.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.78M $23.26M $23.26M
Total Long-Term Liabilities $31.92M $33.00M $33.00M
Total Liabilities $59.71M $57.48M $57.48M
YoY Change 25.29% 43.0% 43.0%
SHAREHOLDERS EQUITY
Retained Earnings $78.71M $77.66M
YoY Change 12.12% 16.0%
Common Stock $89.00K $89.00K
YoY Change 1.14% 1.14%
Preferred Stock
YoY Change
Treasury Stock (at cost) $21.85M $21.35M
YoY Change 37.77% 34.72%
Treasury Stock Shares $3.109M $3.062M
Shareholders Equity $89.86M $88.52M $88.52M
YoY Change
Total Liabilities & Shareholders Equity $149.6M $146.0M $146.0M
YoY Change 13.17% 21.38% 21.38%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022
OPERATING ACTIVITIES
Net Income $1.053M $3.105M $10.71M
YoY Change -67.66% 4.83% -0.52%
Depreciation, Depletion And Amortization $956.0K $847.0K $4.165M
YoY Change -12.45% -17.61% -3.99%
Cash From Operating Activities -$4.560M $8.744M $11.87M
YoY Change 20.76% 81.94% -42.97%
INVESTING ACTIVITIES
Capital Expenditures $7.767M -$5.020M $26.49M
YoY Change -57.66% 485.76% 418.66%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $30.00K
YoY Change -100.0% -100.0% -55.88%
Cash From Investing Activities -$7.767M -$5.020M -$26.46M
YoY Change -57.6% 536.25% 425.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.503M
YoY Change 32.7%
Debt Paid & Issued, Net $68.00K $205.0K
YoY Change
Cash From Financing Activities $2.835M -466.0K $4.292M
YoY Change -71.62% -1764.29% -130.41%
NET CHANGE
Cash From Operating Activities -$4.560M 8.744M $11.87M
Cash From Investing Activities -$7.767M -5.020M -$26.46M
Cash From Financing Activities $2.835M -466.0K $4.292M
Net Change In Cash -$9.492M 3.258M -$10.30M
YoY Change -21.59% -19.46% -722.36%
FREE CASH FLOW
Cash From Operating Activities -$4.560M $8.744M $11.87M
Capital Expenditures $7.767M -$5.020M $26.49M
Free Cash Flow -$12.33M $13.76M -$14.62M
YoY Change -44.27% 143.05% -193.14%

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AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
968000 usd
CY2022 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
5503000 usd
CY2022 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
0 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
0 usd
CY2022 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-94000 usd
CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
2166000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
10712000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
88520000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
10712000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
10768000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-120000 usd
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-132000 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4165000 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4338000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
751000 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-214000 usd
CY2022 naii Operating Lease Noncash Expense
OperatingLeaseNoncashExpense
2749000 usd
CY2021 naii Operating Lease Noncash Expense
OperatingLeaseNoncashExpense
3421000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
968000 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
1430000 usd
CY2022 us-gaap Pension Expense
PensionExpense
83000 usd
CY2021 us-gaap Pension Expense
PensionExpense
163000 usd
CY2022 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
9000 usd
CY2021 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
47000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-644000 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
813000 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
5469000 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-966000 usd
CY2022 naii Increase Decrease In Operating Lease Right Of Assets And Liabilities Net
IncreaseDecreaseInOperatingLeaseRightOfAssetsAndLiabilitiesNet
3007000 usd
CY2021 naii Increase Decrease In Operating Lease Right Of Assets And Liabilities Net
IncreaseDecreaseInOperatingLeaseRightOfAssetsAndLiabilitiesNet
3245000 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-75000 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
358000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3057000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1912000 usd
CY2022 us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
-2273000 usd
CY2021 us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
1430000 usd
CY2022 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
451000 usd
CY2021 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-737000 usd
CY2022 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-911000 usd
CY2021 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
1924000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
11866000 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
20806000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
26488000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5107000 usd
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
30000 usd
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
68000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-26458000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5039000 usd
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
5503000 usd
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4147000 usd
CY2022 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
0 usd
CY2021 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-10000000 usd
CY2022 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
10000000 usd
CY2021 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 usd
CY2022 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
205000 usd
CY2021 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
-0 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 usd
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
35000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4292000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-14112000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-10300000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1655000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
32133000 usd
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
30478000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
21833000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
32133000 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
2608000 usd
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
2960000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
206000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
131000 usd
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2842000 usd
CY2021Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
3050000 usd
CY2022Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
511000 usd
CY2021Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
472000 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
32475000 usd
CY2022Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
140000 usd
CY2021Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1700000 usd
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
21000 usd
CY2021Q2 us-gaap Inventory Net
InventoryNet
27006000 usd
CY2021Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1721000 usd
CY2022 naii Contract With Customer Liability Addition
ContractWithCustomerLiabilityAddition
140000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1721000 usd
CY2022Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
140000 usd
CY2022Q2 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
13000 usd
CY2022 naii Sales Royalty And Licensing Revenue
SalesRoyaltyAndLicensingRevenue
16200000 usd
CY2021 naii Sales Royalty And Licensing Revenue
SalesRoyaltyAndLicensingRevenue
14200000 usd
CY2022 us-gaap Royalty Expense
RoyaltyExpense
700000 usd
CY2021 us-gaap Royalty Expense
RoyaltyExpense
600000 usd
CY2021Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
20668000 usd
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
2546000 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
174000 usd
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
189000 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2500000 usd
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1900000 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
1100000 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
800000 usd
CY2021 naii Effective Income Tax Rate Reconciliation Global Intangible Lowtaxed Income Amount Discrete Benefit
EffectiveIncomeTaxRateReconciliationGlobalIntangibleLowtaxedIncomeAmountDiscreteBenefit
-400000 usd
CY2021 naii Income Tax Benefit Cares Act
IncomeTaxBenefitCaresAct
300000 usd
CY2022 naii Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential Amount Additional Expense
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferentialAmountAdditionalExpense
100000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Use of Estimates </b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">Our management has made a number of estimates and assumptions relating to the reporting of assets and liabilities, revenue and expenses, and the disclosure of contingent assets and liabilities to prepare these consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP). Actual results could differ from those estimates and our assumptions <em style="font: inherit;"> may </em>prove to be inaccurate.</p>
CY2022Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
1948000 usd
CY2021Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
3760000 usd
CY2022 naii Federal State And Local Income Tax Expense Benefit Gross Continuing Operations
FederalStateAndLocalIncomeTaxExpenseBenefitGrossContinuingOperations
2000000.0 usd
CY2021 naii Federal State And Local Income Tax Expense Benefit Gross Continuing Operations
FederalStateAndLocalIncomeTaxExpenseBenefitGrossContinuingOperations
600000 usd
CY2022 naii Effective Income Tax Rate Reconciliation Permanent Differences Amount
EffectiveIncomeTaxRateReconciliationPermanentDifferencesAmount
85000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
10712000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
10768000 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6117000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6291000
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
38000
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
88000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6155000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6379000
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.75
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.71
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.74
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.69
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Concentrations of Credit Risk </b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">Financial instruments that subject us to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. We place our cash and cash equivalents with highly rated financial institutions. Credit risk with respect to receivables is primarily concentrated with our three largest customers, whose receivable balances collectively represented 52.4% of gross accounts receivable at <em style="font: inherit;"> June </em><em style="font: inherit;">30,</em> <em style="font: inherit;">2022</em> and 64.8% at <em style="font: inherit;"> June </em><em style="font: inherit;">30,</em> <em style="font: inherit;">2021.</em> As of <em style="font: inherit;"> June 30, 2022, </em>we had a receivable balance of $3.4 million and as of <em style="font: inherit;"> June 30, 2021 </em>we had a receivable balance of $3.5 million from a former contract manufacturing customer. We have recorded a bad debt reserve equal to 100% of this outstanding balance and thus did <em style="font: inherit;">not</em> reflect it in the percentages listed above.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;">Additionally, amounts due related to our beta-alanine raw material sales were 5.4% of gross accounts receivable at <em style="font: inherit;"> June 30, 2022 </em>and 8.6% of gross accounts receivable at <em style="font: inherit;"> June 30, 2021. </em>Concentrations of credit risk related to the remaining accounts receivable balances are limited due to the number of customers comprising our remaining customer base.</p>
CY2022Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
28196000 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
92998000 usd
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
66618000 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
48425000 usd
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
44347000 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
44573000 usd
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22271000 usd
CY2022 us-gaap Depreciation
Depreciation
4200000 usd
CY2021 us-gaap Depreciation
Depreciation
4300000 usd
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y3M18D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0412 pure
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y3M18D
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0324 pure
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
3289000 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
3298000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
8513000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
187000 usd
CY2022 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
171000 usd
CY2021 naii Effective Income Tax Rate Reconciliation Permanent Differences Amount
EffectiveIncomeTaxRateReconciliationPermanentDifferencesAmount
-6000 usd
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-47000 usd
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-210000 usd
CY2022 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
124000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
13659000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
12125000 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1297000 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
274000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-1000 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
59000 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
900000 usd
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1238000 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
2196000 usd
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1571000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
501000 usd
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
44000 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
250000 usd
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
211000 usd
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-469000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
751000 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-214000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2947000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1357000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
0 usd
CY2021 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
7000 usd
CY2022 us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
145000 usd
CY2021 us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
211000 usd
CY2022 us-gaap Defined Benefit Plan Administration Expenses
DefinedBenefitPlanAdministrationExpenses
-0 usd
CY2021 us-gaap Defined Benefit Plan Administration Expenses
DefinedBenefitPlanAdministrationExpenses
-0 usd
CY2022Q2 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
1094000 usd
CY2021Q2 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
1429000 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
2868000 usd
CY2022Q2 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
373000 usd
CY2021Q2 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
259000 usd
CY2022Q2 naii Deferred Tax Assets Inventory Reserves
DeferredTaxAssetsInventoryReserves
113000 usd
CY2021Q2 naii Deferred Tax Assets Inventory Reserves
DeferredTaxAssetsInventoryReserves
143000 usd
CY2022Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Pensions
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions
0 usd
CY2021Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Pensions
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions
150000 usd
CY2022Q2 naii Deferred Tax Asset Lease Liability
DeferredTaxAssetLeaseLiability
2139000 usd
CY2021Q2 naii Deferred Tax Asset Lease Liability
DeferredTaxAssetLeaseLiability
2477000 usd
CY2022Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
242000 usd
CY2021Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
94000 usd
CY2022Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
458000 usd
CY2021Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
568000 usd
CY2022Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
66000 usd
CY2021Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
96000 usd
CY2022Q2 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
0 usd
CY2021Q2 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
8000 usd
CY2022Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
43000 usd
CY2021Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
300000 usd
CY2022Q2 naii Deferred Tax Asset Allowance For Bad Debt
DeferredTaxAssetAllowanceForBadDebt
795000 usd
CY2021Q2 naii Deferred Tax Asset Allowance For Bad Debt
DeferredTaxAssetAllowanceForBadDebt
863000 usd
CY2022Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
0 usd
CY2021Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
3000 usd
CY2022Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
4229000 usd
CY2021Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
4961000 usd
CY2022Q2 naii Deferred Tax Liabilities Withholding Taxes
DeferredTaxLiabilitiesWithholdingTaxes
1133000 usd
CY2021Q2 naii Deferred Tax Liabilities Withholding Taxes
DeferredTaxLiabilitiesWithholdingTaxes
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1820000 usd
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1094000 usd
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CY2021Q2 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
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CY2022 us-gaap Treasury Stock Value Acquired Cost Method
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5503000 usd
CY2021 us-gaap Treasury Stock Shares Acquired
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CY2021 us-gaap Treasury Stock Value Acquired Cost Method
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4147000 usd
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DefinedBenefitPlanExpectedReturnOnPlanAssets
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DefinedBenefitPlanExpectedReturnOnPlanAssets
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73000 usd
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CY2021 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
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CY2022Q2 us-gaap Defined Benefit Plan Expected Amortization Next Fiscal Year
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CY2022Q2 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
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799000 usd
CY2022Q2 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Two
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo
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CY2022Q2 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
276000 usd
CY2022Q2 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Four
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour
14000 usd
CY2022Q2 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive
110000 usd
CY2022Q2 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter
67000 usd
CY2022Q2 naii Defined Benefit Plan Expected Future Benefit Payment
DefinedBenefitPlanExpectedFutureBenefitPayment
1266000 usd
CY2022 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0439 pure
CY2021 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0274 pure
CY2022 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.0610 pure
CY2021 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.0660 pure
CY2022Q2 us-gaap Defined Benefit Plan Weighted Average Asset Allocations
DefinedBenefitPlanWeightedAverageAssetAllocations
1 pure
CY2021Q2 us-gaap Defined Benefit Plan Weighted Average Asset Allocations
DefinedBenefitPlanWeightedAverageAssetAllocations
1 pure
CY2022Q2 us-gaap Defined Benefit Plan Plan Assets Target Allocation Percentage
DefinedBenefitPlanPlanAssetsTargetAllocationPercentage
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CY2022Q2 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
1094000 usd
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CY2021Q1 us-gaap Stock Repurchase Program Authorized Amount1
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15000000.0 usd
CY2022Q1 naii Stock Repurchase Program Additional Authorized Amount
StockRepurchaseProgramAdditionalAuthorizedAmount
3000000.0 usd
CY2022Q1 us-gaap Stock Repurchase Program Authorized Amount1
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CY2022 us-gaap Treasury Stock Shares Acquired
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CY2022 us-gaap Treasury Stock Acquired Average Cost Per Share
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CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2022 naii Sharebased Compensation Arrangement By Sharebased Payment Award Options Cashless Exercises
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120000
CY2022 naii Stock Issued During Period Shares Stock Options Exercised For Cash
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55915
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3187000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2607000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1288000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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1288000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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7083000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
16741000 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
3400000 usd
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
3400000 usd
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AccountsReceivableNet
10700000 usd
CY2021Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
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CY2022Q2 us-gaap Assets
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CY2021Q2 us-gaap Assets
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2 pure
CY2022 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
170966000 usd
CY2021 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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CY2022 us-gaap Operating Income Loss
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CY2022Q2 us-gaap Assets
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CY2022Q2 us-gaap Noncurrent Assets
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CY2021Q2 us-gaap Noncurrent Assets
NoncurrentAssets
38148000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
26488000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5107000 usd

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