2024 Q2 Form 10-Q Financial Statement
#000149315224018889 Filed on May 13, 2024
Income Statement
| Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
|---|---|---|---|
| Revenue | $1.739M | $1.511M | $1.239M |
| YoY Change | 5.46% | 21.95% | 4.73% |
| Cost Of Revenue | $1.408M | $1.219M | $866.0K |
| YoY Change | 21.59% | 40.76% | -18.38% |
| Gross Profit | $331.0K | $292.0K | $373.0K |
| YoY Change | -32.59% | -21.72% | 205.74% |
| Gross Profit Margin | 19.03% | 19.32% | 30.1% |
| Selling, General & Admin | $5.190M | $5.081M | $2.911M |
| YoY Change | 36.11% | 74.54% | -0.58% |
| % of Gross Profit | 1567.98% | 1740.07% | 780.43% |
| Research & Development | $3.401M | $2.625M | $1.843M |
| YoY Change | 70.65% | 42.43% | 9.7% |
| % of Gross Profit | 1027.49% | 898.97% | 494.1% |
| Depreciation & Amortization | $66.00K | $69.00K | $55.00K |
| YoY Change | 13.79% | 25.45% | 34.15% |
| % of Gross Profit | 19.94% | 23.63% | 14.75% |
| Operating Expenses | $8.591M | $7.706M | $4.754M |
| YoY Change | 47.97% | 62.1% | 3.17% |
| Operating Profit | -$8.260M | -$7.414M | -$4.381M |
| YoY Change | 55.41% | 69.23% | -2.34% |
| Interest Expense | |||
| YoY Change | |||
| % of Operating Profit | |||
| Other Income/Expense, Net | $351.0K | $382.0K | $125.0K |
| YoY Change | 47.48% | 205.6% | 2400.0% |
| Pretax Income | -$7.909M | -$7.032M | -$4.256M |
| YoY Change | 55.78% | 65.23% | -5.02% |
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | -$7.909M | -$7.032M | -$4.256M |
| YoY Change | 55.78% | 65.23% | -5.02% |
| Net Earnings / Revenue | -454.8% | -465.39% | -343.5% |
| Basic Earnings Per Share | -$0.22 | -$0.21 | -$0.53 |
| Diluted Earnings Per Share | -$0.22 | -$0.21 | -$0.53 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 24.93M shares | 23.46M shares | 8.327M shares |
| Diluted Shares Outstanding | 35.88M shares | 34.24M shares | 8.093M shares |
Balance Sheet
| Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $47.16M | $33.95M | $12.89M |
| YoY Change | 0.36% | 163.48% | -56.84% |
| Cash & Equivalents | $28.39M | $9.389M | $4.228M |
| Short-Term Investments | $18.78M | $24.56M | $8.657M |
| Other Short-Term Assets | $717.0K | $531.0K | $394.0K |
| YoY Change | 1180.36% | 34.77% | 35.4% |
| Inventory | $2.206M | $2.360M | $1.697M |
| Prepaid Expenses | $717.0K | $531.0K | $394.0K |
| Receivables | $1.307M | $1.187M | $1.417M |
| Other Receivables | $450.0K | $483.0K | $310.0K |
| Total Short-Term Assets | $51.84M | $38.51M | $16.70M |
| YoY Change | 2.62% | 130.56% | -48.81% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $1.595M | $1.186M | $887.0K |
| YoY Change | -29.46% | 33.71% | -45.38% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $964.0K | $965.0K | $859.0K |
| YoY Change | 12.49% | 12.34% | -6.12% |
| Total Long-Term Assets | $3.816M | $3.517M | $3.218M |
| YoY Change | 22.39% | 9.29% | 26.74% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $51.84M | $38.51M | $16.70M |
| Total Long-Term Assets | $3.816M | $3.517M | $3.218M |
| Total Assets | $55.66M | $42.03M | $19.92M |
| YoY Change | 3.77% | 110.97% | -43.36% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $927.0K | $659.0K | $607.0K |
| YoY Change | -80.8% | 8.57% | -32.56% |
| Accrued Expenses | $1.149M | $1.101M | $933.0K |
| YoY Change | 54.85% | 18.01% | -65.39% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $6.965M | $4.877M | $4.383M |
| YoY Change | 44.23% | 11.27% | 18.75% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $1.931M | $2.064M | $2.112M |
| YoY Change | -3.26% | -2.27% | 18.92% |
| Total Long-Term Liabilities | $1.931M | $2.064M | $2.112M |
| YoY Change | -3.26% | -2.27% | 18.92% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $6.965M | $4.877M | $4.383M |
| Total Long-Term Liabilities | $1.931M | $2.064M | $2.112M |
| Total Liabilities | $8.896M | $6.941M | $6.495M |
| YoY Change | 30.34% | 6.87% | 18.8% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$236.4M | -$228.5M | -$205.8M |
| YoY Change | 12.1% | 11.02% | |
| Common Stock | $3.000K | $2.000K | $1.000K |
| YoY Change | 50.0% | 100.0% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $46.76M | $35.09M | $13.43M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $55.66M | $42.03M | $19.92M |
| YoY Change | 3.77% | 110.97% | -43.36% |
Cashflow Statement
| Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$7.909M | -$7.032M | -$4.256M |
| YoY Change | 55.78% | 65.23% | -5.02% |
| Depreciation, Depletion And Amortization | $66.00K | $69.00K | $55.00K |
| YoY Change | 13.79% | 25.45% | 34.15% |
| Cash From Operating Activities | -$4.354M | -$5.064M | -$4.831M |
| YoY Change | 30.95% | 4.82% | 16.35% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $475.0K | $195.0K | $25.00K |
| YoY Change | 955.56% | 680.0% | -167.57% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $5.981M | $5.012M | $4.474M |
| YoY Change | -122.28% | 12.03% | -44840.0% |
| Cash From Investing Activities | $5.506M | $4.817M | $4.449M |
| YoY Change | -120.48% | 8.27% | -9565.96% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 17.85M | ||
| YoY Change | -52.43% | ||
| NET CHANGE | |||
| Cash From Operating Activities | -4.354M | -$5.064M | -$4.831M |
| Cash From Investing Activities | 5.506M | $4.817M | $4.449M |
| Cash From Financing Activities | 17.85M | ||
| Net Change In Cash | 19.01M | -$251.0K | -$404.0K |
| YoY Change | 159.72% | -37.87% | |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$4.354M | -$5.064M | -$4.831M |
| Capital Expenditures | $475.0K | $195.0K | $25.00K |
| Free Cash Flow | -$4.829M | -$5.259M | -$4.856M |
| YoY Change | 43.29% | 8.3% | 18.01% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2023Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
| CY2023Q1 | NSPR |
Changes In Fair Value Of Marketable Securities
ChangesInFairValueOfMarketableSecurities
|
usd | |
| CY2024Q1 | NSPR |
Interest Income From Shortterm Bank Deposits
InterestIncomeFromShorttermBankDeposits
|
usd | |
| CY2024Q1 | us-gaap |
Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
|
usd | |
| CY2024Q1 | us-gaap |
Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
|
usd | |
| CY2023Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
usd | |
| CY2023Q1 | NSPR |
Proceeds From Matured Marketable Securities
ProceedsFromMaturedMarketableSecurities
|
usd | |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
usd | |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
usd | |
| CY2024Q1 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
1219000 | usd |
| CY2023Q1 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
866000 | usd |
| CY2024Q1 | us-gaap |
Gross Profit
GrossProfit
|
292000 | usd |
| CY2023Q1 | us-gaap |
Gross Profit
GrossProfit
|
373000 | usd |
| CY2024Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2625000 | usd |
| CY2023Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1843000 | usd |
| CY2024Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
1237000 | usd |
| CY2023Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
788000 | usd |
| CY2024Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
3844000 | usd |
| CY2023Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2123000 | usd |
| CY2024Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
7706000 | usd |
| CY2023Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
4754000 | usd |
| CY2024Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-7414000 | usd |
| CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4381000 | usd |
| CY2024Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
382000 | usd |
| CY2023Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
125000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7032000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4256000 | usd |
| CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.21 | |
| CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.21 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.53 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.53 | |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
34242976 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
34242976 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
8093340 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
8093340 | shares |
| CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
17393000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4256000 | usd |
| CY2023Q1 | us-gaap |
Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
|
4270 | shares |
| CY2023Q1 | NSPR |
Sharebased Compensation Related To Restricted Stock Restricted Stock Units And Stock Options Award Net Of Forfeitures
SharebasedCompensationRelatedToRestrictedStockRestrictedStockUnitsAndStockOptionsAwardNetOfForfeitures
|
289000 | usd |
| CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
13426000 | usd |
| CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
39501000 | usd |
| CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
39501000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7032000 | usd |
| CY2024Q1 | us-gaap |
Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
|
75090 | shares |
| CY2024Q1 | NSPR |
Sharebased Compensation Related To Restricted Stock Restricted Stock Units And Stock Options Award Net Of Forfeitures
SharebasedCompensationRelatedToRestrictedStockRestrictedStockUnitsAndStockOptionsAwardNetOfForfeitures
|
2618000 | usd |
| CY2024Q1 | NSPR |
Sharebased Compensation Related To Restricted Stock Restricted Stock Units And Stock Options Award Net Of Forfeitures
SharebasedCompensationRelatedToRestrictedStockRestrictedStockUnitsAndStockOptionsAwardNetOfForfeitures
|
2618000 | usd |
| CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
35087000 | usd |
| CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
35087000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7032000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4256000 | usd |
| CY2024Q1 | us-gaap |
Depreciation
Depreciation
|
69000 | usd |
| CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
55000 | usd |
| CY2024Q1 | NSPR |
Changes In Fair Value Of Marketable Securities
ChangesInFairValueOfMarketableSecurities
|
218000 | usd |
| CY2024Q1 | NSPR |
Change In Liability For Employees Rights Upon Retirement
ChangeInLiabilityForEmployeesRightsUponRetirement
|
-66000 | usd |
| CY2023Q1 | NSPR |
Change In Liability For Employees Rights Upon Retirement
ChangeInLiabilityForEmployeesRightsUponRetirement
|
-36000 | usd |
| CY2024Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-4000 | usd |
| CY2023Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-22000 | usd |
| CY2024Q1 | NSPR |
Change In Right Of Use Asset And Leasing Liability
ChangeInRightOfUseAssetAndLeasingLiability
|
25000 | usd |
| CY2023Q1 | NSPR |
Change In Right Of Use Asset And Leasing Liability
ChangeInRightOfUseAssetAndLeasingLiability
|
34000 | usd |
| CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2618000 | usd |
| CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
289000 | usd |
| CY2024Q1 | NSPR |
Loss Gain On Amounts Funded In Respect Of Employee Rights Upon Retirement Net
LossGainOnAmountsFundedInRespectOfEmployeeRightsUponRetirementNet
|
-14000 | usd |
| CY2023Q1 | NSPR |
Loss Gain On Amounts Funded In Respect Of Employee Rights Upon Retirement Net
LossGainOnAmountsFundedInRespectOfEmployeeRightsUponRetirementNet
|
-23000 | usd |
| CY2023Q1 | NSPR |
Interest Income From Shortterm Bank Deposits
InterestIncomeFromShorttermBankDeposits
|
-14000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-47000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-261000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-617000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
383000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-165000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
97000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
254000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
76000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
-280000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
-52000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
-855000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
-633000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5064000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4831000 | usd |
| CY2024Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
195000 | usd |
| CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
25000 | usd |
| CY2023Q1 | us-gaap |
Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
|
2500000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
|
7000000 | usd |
| CY2024Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
1960000 | usd |
| CY2024Q1 | NSPR |
Proceeds From Matured Marketable Securities
ProceedsFromMaturedMarketableSecurities
|
7000000 | usd |
| CY2024Q1 | NSPR |
Amounts Withdrawn In Respect Of Employee Rights Upon Retirement Net
AmountsWithdrawnInRespectOfEmployeeRightsUponRetirementNet
|
28000 | usd |
| CY2023Q1 | NSPR |
Amounts Withdrawn In Respect Of Employee Rights Upon Retirement Net
AmountsWithdrawnInRespectOfEmployeeRightsUponRetirementNet
|
26000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
4817000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
4449000 | usd |
| CY2024Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-4000 | usd |
| CY2023Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-22000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-251000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-404000 | usd |
| CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
9640000 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
4632000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
9389000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
4228000 | usd |
| CY2024Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_80A_eus-gaap--NatureOfOperations_zarudth8xg3f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 - <span id="xdx_822_zPXYA0O8RzHi">DESCRIPTION OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>a.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>General</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">InspireMD, Inc., a Delaware corporation (the “Company”), together with its subsidiaries, is a medical device company focusing on the development and commercialization of its proprietary MicroNet™ stent platform technology for the treatment of complex vascular and coronary disease. MicroNet, a micron mesh sleeve, is wrapped over a stent to provide embolic protection in stenting procedures. </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s carotid product (CGuard™ EPS) combines MicroNet and a self-expandable nitinol stent in a single device to treat carotid artery disease.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company markets its product through distributors in international markets, mainly in Europe.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of the date of issuance of these consolidated financial statements, the Company has the ability to fund its planned operations for at least the next 12 months. However, the Company expects to continue incurring losses and negative cash flows from operations until its product, CGuard™ EPS, reaches commercial profitability. Therefore, in order to fund the Company’s operations until such time that the Company can generate substantial revenues, the Company may need to raise additional funds.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>b.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks Related to the Company’s Operations in Israel including the recent attack by Hamas and other terrorist organizations from the Gaza Strip and Israel’s war against them.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In October 2023, Israel was attacked by a terrorist organization and entered a state of war. As of the date of these consolidated financial statements, the war in Israel is ongoing and continues to evolve. The Company operations, including its production facility, are located in Israel. Currently, such activities in Israel remain largely unaffected. During the three months ended March 31, 2024, the impact of this war on the Company’s results of operations and financial condition was immaterial, but such impact may increase, which could be material, as a result of the continuation, escalation or expansion of such war.</span></p></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
| CY2024Q1 | us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<p id="xdx_808_eus-gaap--BasisOfAccounting_zt3nsA2DdVpj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 - <span id="xdx_824_zgnYNPrQTl6l">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: -12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements. In the opinion of the Company, the financial statements reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of its financial position as of March 31, 2024 and its results of operations, changes in equity and cash flows for the three months ended March 31, 2024 and 2023. These consolidated financial statements and notes thereto are unaudited and should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2023, as found in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 5, 2024. The results of operations for the three months ended March 31, 2024 are not necessarily indicative of results that could be expected for the entire fiscal year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> | |
| CY2024Q1 | us-gaap |
Securities Borrowed Fair Value Disclosure
SecuritiesBorrowedFairValueDisclosure
|
23878000 | usd |
| CY2024Q1 | NSPR |
Marketable Securities Maturities Within One Year Fair Value
MarketableSecuritiesMaturitiesWithinOneYearFairValue
|
23573000 | usd |
| CY2023Q4 | NSPR |
Marketable Securities Maturities Within One Year Fair Value
MarketableSecuritiesMaturitiesWithinOneYearFairValue
|
24523000 | usd |
| CY2024Q1 | NSPR |
Marketable Securities Maturities After One Year Through Two Years Fair Value
MarketableSecuritiesMaturitiesAfterOneYearThroughTwoYearsFairValue
|
988000 | usd |
| CY2023Q4 | NSPR |
Marketable Securities Maturities After One Year Through Two Years Fair Value
MarketableSecuritiesMaturitiesAfterOneYearThroughTwoYearsFairValue
|
4860000 | usd |
| CY2024Q1 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
24561000 | usd |
| CY2023Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
29383000 | usd |
| CY2023Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
29383000 | usd |
| CY2024Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
1960000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
7000000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Interest Received
ProceedsFromInterestReceived
|
75000 | usd |
| CY2024Q1 | NSPR |
Changes In Fair Value Marketable Securities
ChangesInFairValueMarketableSecurities
|
293000 | usd |
| CY2024Q1 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
24561000 | usd |
| CY2024Q1 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
53396008 | shares |
| CY2024Q1 | us-gaap |
Capital Units Authorized
CapitalUnitsAuthorized
|
155000000 | shares |
| CY2024Q1 | NSPR |
Capital Stock Par Or Stated Value Per Share
CapitalStockParOrStatedValuePerShare
|
0.0001 | |
| CY2024Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
150000000 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
15254623 | shares |
| CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
4611500 | shares |
| CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
342766 | shares |
| CY2023Q4 | us-gaap |
Accounts Payable Other Current
AccountsPayableOtherCurrent
|
5081000 | usd |
| CY2024Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
73000 | usd |
| CY2023Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
210000 | usd |
| CY2024Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
917000 | usd |
| CY2023Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
562000 | usd |
| CY2024Q1 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
1370000 | usd |
| CY2023Q4 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
1334000 | usd |
| CY2024Q1 | us-gaap |
Inventory Net
InventoryNet
|
2360000 | usd |
| CY2023Q4 | us-gaap |
Inventory Net
InventoryNet
|
2106000 | usd |
| CY2024Q1 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
1207000 | usd |
| CY2023Q4 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
2188000 | usd |
| CY2024Q1 | us-gaap |
Accrued Vacation Current
AccruedVacationCurrent
|
348000 | usd |
| CY2023Q4 | us-gaap |
Accrued Vacation Current
AccruedVacationCurrent
|
287000 | usd |
| CY2024Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1101000 | usd |
| CY2023Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1115000 | usd |
| CY2024Q1 | NSPR |
Clinical Trial Accrual Current
ClinicalTrialAccrualCurrent
|
826000 | usd |
| CY2023Q4 | NSPR |
Clinical Trial Accrual Current
ClinicalTrialAccrualCurrent
|
744000 | usd |
| CY2024Q1 | NSPR |
Accrued Operating Lease Liabilities Current
AccruedOperatingLeaseLiabilitiesCurrent
|
549000 | usd |
| CY2023Q4 | NSPR |
Accrued Operating Lease Liabilities Current
AccruedOperatingLeaseLiabilitiesCurrent
|
557000 | usd |
| CY2024Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
187000 | usd |
| CY2023Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
190000 | usd |
| CY2024Q1 | us-gaap |
Accounts Payable Other Current
AccountsPayableOtherCurrent
|
4218000 | usd |
| CY2024Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
1511000 | usd |
| CY2023Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
1239000 | usd |
| CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |
