2024 Q1 Form 10-K Financial Statement

#000149315224011341 Filed on March 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $187.0K $1.946M $3.033M
YoY Change -38.28% 1123.9% 356.09%
Cost Of Revenue $410.0K $876.0K $2.524M
YoY Change -25.45% 148.86% 54.75%
Gross Profit -$223.0K $1.070M $509.0K
YoY Change -9.72% -654.4% -152.69%
Gross Profit Margin -119.25% 54.98% 16.78%
Selling, General & Admin $1.574M $1.438M $5.540M
YoY Change 38.8% 262.22% 29.56%
% of Gross Profit 134.39% 1088.41%
Research & Development $1.567M $1.495M $5.602M
YoY Change 12.09% 27.34% 33.48%
% of Gross Profit 139.72% 1100.59%
Depreciation & Amortization $33.00K $45.00K $284.0K
YoY Change -78.71% -50.55% 13.15%
% of Gross Profit 4.21% 55.8%
Operating Expenses $3.141M $2.943M $11.14M
YoY Change 24.05% 88.17% 31.5%
Operating Profit -$3.364M -$1.873M -$10.63M
YoY Change 21.05% 6.6% 12.65%
Interest Expense $202.0K $332.0K $988.0K
YoY Change 134.88% 256.99% -1774.58%
% of Operating Profit
Other Income/Expense, Net $200.0K $200.0K
YoY Change
Pretax Income -$3.162M -$1.341M -$9.445M
YoY Change 17.72% -19.41% -0.24%
Income Tax
% Of Pretax Income
Net Earnings -$3.162M -$1.341M -$9.445M
YoY Change 17.72% -19.41% -0.24%
Net Earnings / Revenue -1690.91% -68.91% -311.41%
Basic Earnings Per Share $0.30 -$0.98
Diluted Earnings Per Share $0.30 -$0.13 -$0.98
COMMON SHARES
Basic Shares Outstanding 10.45M shares 10.44M shares 9.668K shares
Diluted Shares Outstanding 10.45K shares 9.668K shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.59M $17.04M $17.04M
YoY Change -36.6% 29.63% 29.63%
Cash & Equivalents $7.362M $8.945M $8.945M
Short-Term Investments $8.228M $8.096M $8.096M
Other Short-Term Assets $562.0K $432.0K $432.0K
YoY Change -0.35% 53.74% 53.74%
Inventory $604.0K $504.0K $504.0K
Prepaid Expenses
Receivables $123.0K $1.372M $1.372M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $17.19M $19.35M $19.35M
YoY Change -33.65% 37.06% 37.06%
LONG-TERM ASSETS
Property, Plant & Equipment $466.0K $477.0K $1.857M
YoY Change -8.27% -26.39% 94.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $96.00K $96.00K $367.0K
YoY Change -64.18% -70.73% 11.89%
Total Long-Term Assets $3.352M $3.480M $3.480M
YoY Change 31.09% 25.27% 25.27%
TOTAL ASSETS
Total Short-Term Assets $17.19M $19.35M $19.35M
Total Long-Term Assets $3.352M $3.480M $3.480M
Total Assets $20.54M $22.83M $22.83M
YoY Change -27.83% 35.12% 35.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $399.0K $287.0K $287.0K
YoY Change 9.32% -3.37% -3.37%
Accrued Expenses $1.371M $1.016M $1.016M
YoY Change 45.39% 30.59% 30.59%
Deferred Revenue $557.0K $527.0K
YoY Change -57.29% -63.04%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.670M $2.082M $2.082M
YoY Change 1.91% -18.64% -18.64%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $28.00K $2.940M
YoY Change -98.9% 15.29%
Total Long-Term Liabilities $2.726M $2.940M $2.940M
YoY Change 10.45% 15.29% 15.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.670M $2.082M $2.082M
Total Long-Term Liabilities $2.726M $2.940M $2.940M
Total Liabilities $5.396M $5.022M $5.022M
YoY Change 6.05% -1.7% -1.7%
SHAREHOLDERS EQUITY
Retained Earnings -$37.40M -$34.20M
YoY Change 36.26% 38.11%
Common Stock $52.51M $52.01M
YoY Change 3.33% 42.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.15M $17.81M $17.81M
YoY Change
Total Liabilities & Shareholders Equity $20.54M $22.83M $22.83M
YoY Change -27.83% 35.12% 35.12%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$3.162M -$1.341M -$9.445M
YoY Change 17.72% -19.41% -0.24%
Depreciation, Depletion And Amortization $33.00K $45.00K $284.0K
YoY Change -78.71% -50.55% 13.15%
Cash From Operating Activities -$1.230M -$2.671M -$10.01M
YoY Change -50.28% 34.36% 64.22%
INVESTING ACTIVITIES
Capital Expenditures $22.00K $19.00K $113.0K
YoY Change 46.67% -38.71% -4.24%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$4.500M -$5.000M
YoY Change -100.0% -147.37% -162.5%
Cash From Investing Activities -$22.00K -$4.519M -$5.113M
YoY Change -99.82% -147.72% -164.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -26.00K $13.81M
YoY Change
NET CHANGE
Cash From Operating Activities -$1.230M -2.671M -$10.01M
Cash From Investing Activities -$22.00K -4.519M -$5.113M
Cash From Financing Activities -26.00K $13.81M
Net Change In Cash -$1.252M -7.216M -$1.313M
YoY Change 144.53% -196.46% -173.48%
FREE CASH FLOW
Cash From Operating Activities -$1.230M -$2.671M -$10.01M
Capital Expenditures $22.00K $19.00K $113.0K
Free Cash Flow -$1.252M -$2.690M -$10.12M
YoY Change -49.7% 33.23% 62.92%

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113000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
118000 usd
CY2023 SCTC Withdrawal Short Term Deposits
WithdrawalShortTermDeposits
21500000 usd
CY2022 SCTC Withdrawal Short Term Deposits
WithdrawalShortTermDeposits
14500000 usd
CY2023 SCTC Payments Investment To Short Term Deposits
PaymentsInvestmentToShortTermDeposits
26500000 usd
CY2022 SCTC Payments Investment To Short Term Deposits
PaymentsInvestmentToShortTermDeposits
6500000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5113000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
7882000 usd
CY2023 SCTC Proceeds From Issuance Of Shares And Warrants
ProceedsFromIssuanceOfSharesAndWarrants
13809000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
13809000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1313000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1787000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10099000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8581000 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
159000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-269000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8945000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10099000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1506000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
155000 usd
CY2023 SCTC Termination Of Rightofuse Assets In Exchange For Cancellation Of Operating Lease Obligations
TerminationOfRightofuseAssetsInExchangeForCancellationOfOperatingLeaseObligations
-52000 usd
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80D_eus-gaap--NatureOfOperations_zuIRDP4dWBF3" 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><span id="xdx_82D_zBBWoDUe14hk">GENERAL</span>:</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center; color: red"><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; 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"><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">Odysight.ai Inc (the “Company”), formerly known as ScoutCam Inc., was incorporated under the laws of the State of Nevada on March 22, 2013. Prior to the closing of the Exchange Agreement (as defined below), the Company was a non-operating “shell company”.</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">On June 5, 2023, the Company filed with the Nevada Secretary of State a Certificate of Amendment to the Registrant’s Articles of Incorporation to change its name from “ScoutCam Inc.” to “Odysight.ai Inc.”, effective June 5, 2023.</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">The Company’s wholly owned subsidiary, Odysight.ai Ltd (“Odysight.ai”), formerly known as ScoutCam Ltd., was formed in the State of Israel on January 3, 2019, as a wholly-owned subsidiary of Medigus Ltd. (“Medigus”), an Israeli company traded on the Nasdaq Capital Market, and commenced operations on March 1, 2019.</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 December 2019, Medigus and Odysight.ai consummated an asset transfer agreement, under which Medigus transferred and assigned certain assets and intellectual property rights related to its miniaturized imaging business to Odysight.ai.</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">On December 30, 2019, the Company and Medigus consummated a securities exchange agreement (the “Exchange Agreement”), pursuant to which Medigus delivered <span id="xdx_902_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20191230__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MedigusMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementMember_zZMgD93RrKA2" title="Ownership percentage">100</span>% of its holdings in Odysight.ai to the Company in exchange for shares of the Company’s common stock representing <span id="xdx_90A_ecustom--PercentageOfExchangeForSharesIssuedAndOutstandingShareCapital_pid_dp_uPure_c20191230__20191230__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MedigusMember__us-gaap--TypeOfArrangementAxis__custom--ExchangeAgreementMember_z5Binvyd7gve" title="Percentage of exchange for shares issued and outstanding share capital">60</span>% of the issued and outstanding share capital of the Company immediately upon the consummation of the Exchange Agreement.</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">During 2020-2023 Medigus decreased its holdings in the Company such that as of March 31, 2023, Medigus owned <span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MedigusMember_zIFS4qutcjx9">18.45</span>% of the Company’s outstanding common stock. On June 1, 2023, Medigus sold all of its holdings in the Company to existing shareholders and to Chairman of the Board and CEO of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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 0 0pt 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 28, 2024, D. VIEW Ltd. was formed in the State of Israel, wholly owned by Odysight.ai Inc., to act as a local agent for the defense market in Israel.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; 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">The Company, through Odysight.ai, provides image-based platforms. Through the use of its proprietary visualization technology, Odysight.ai offers solutions across predictive maintenance and condition-based monitoring markets, in sectors such as energy, automotive and aviation. Odysight.ai’s solutions are based on small and highly resilient cameras, specialized AI analysis and supplementary technologies. Some of the Company’s products utilize micro visualization technology in medical devices for minimally invasive medical procedures.</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></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"><b>b.</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">Since incorporation of Odysight.ai and through December 31, 2023, the Company accumulated a deficit of approximately $<span id="xdx_90F_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn5n6_di_c20231231_zSu49GukfT63" title="Accumulated deficit">34.2</span> million and its activities have been funded mainly by its shareholders. The Company’s management believes the Company’ cash and cash resources will allow the Company to fund its operating plan through at least the next 12 months from the filing date of these Consolidated Financial Statements. However, the Company expects to continue to incur significant research and development and other costs related to its ongoing operations, requiring the Company to obtain additional funding in order to continue its future operations until becoming profitable.</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"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </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"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><b>c.</b></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On October 7, 2023, Hamas terrorists infiltrated Israel’s southern border from the Gaza Strip and conducted a series of attacks on civilian and military targets, which led Israel to formally declare war on Hamas the next day. The war is ongoing as of the issuance date of these financial statements. At this stage, the Company does not expect substantial impact of the above-described events on its operations.</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><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"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><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: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 49.6pt; text-align: justify; text-indent: -49.6pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-34200000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_847_eus-gaap--UseOfEstimates_zTFwn96wN1Y2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>b.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_868_zuv7SEgKRVma">Use of estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; 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 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. The Company evaluates its assumptions on an ongoing basis, including those related to contingencies and inventory impairment, as well as estimates used in applying its revenue recognition policy. Actual results may differ from these estimates.</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>
CY2023 SCTC Monthly Salary Percentage
MonthlySalaryPercentage
0.0833 pure
CY2023Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
445000 usd
CY2022Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
438000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
34000 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
148000 usd
CY2023 us-gaap Debt Instrument Term
DebtInstrumentTerm
P12M
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
25000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
44000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
504000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
630000 usd
CY2023 us-gaap Inventory Write Down
InventoryWriteDown
0 usd
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
0 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1034000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1152000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
557000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
504000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
477000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
648000 usd
CY2023 us-gaap Depreciation
Depreciation
284000 usd
CY2022 us-gaap Depreciation
Depreciation
251000 usd
CY2023Q4 SCTC Government Authorities
GovernmentAuthorities
52000 usd
CY2023Q4 SCTC Accrued Expenses Current
AccruedExpensesCurrent
132000 usd
CY2022Q4 SCTC Accrued Expenses Current
AccruedExpensesCurrent
214000 usd
CY2023Q4 SCTC Other Payables
OtherPayables
27000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
211000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
214000 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
25006000 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
19239000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
5786000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
4564000 usd
CY2023Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
5786000 usd
CY2022Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
4564000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
5786000 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
25006000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
229000 usd
CY2022 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
117000 usd
CY2023 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
29000 usd
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1253554 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.31
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y7M24D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5884000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
479000 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.50
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
172514 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.57
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1560040 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.64
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y2M1D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2116000 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
986000 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.15
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
90971 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.28
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2455069 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.46
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y14D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
312000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1163201 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.39
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y6M25D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
268000 usd
CY2023Q4 us-gaap Share Price
SharePrice
3
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.88 pure
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.90 pure
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0393 pure
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0447 pure
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
1664000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
1638000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
665000 usd
CY2023Q4 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P7Y
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3033000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
665000 usd
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1256000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1495000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2322000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3644000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1495000 usd
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1675000 usd
CY2023 SCTC Contract With Customer Asset Contract Costs
ContractWithCustomerAssetContractCosts
-239000 usd
CY2022 SCTC Contract With Customer Asset Contract Costs
ContractWithCustomerAssetContractCosts
-180000 usd
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1256000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1495000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3644000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2420000 usd
CY2022 SCTC Contract With Customer Liability Deferred Revenue Relating To New Sales
ContractWithCustomerLiabilityDeferredRevenueRelatingToNewSales
1613000 usd
CY2023 SCTC Contract With Customer Liability Revenue Recognized Development Services
ContractWithCustomerLiabilityRevenueRecognizedDevelopmentServices
-1322000 usd
CY2022 SCTC Contract With Customer Liability Revenue Recognized Development Services
ContractWithCustomerLiabilityRevenueRecognizedDevelopmentServices
-389000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2322000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3644000 usd
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2300000 usd
CY2023 us-gaap Variable Lease Payment
VariableLeasePayment
7000 usd
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
7000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1380000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1326000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
307000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
263000 usd
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
403000 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
264000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
479000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
261000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y10M20D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y10M2D
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
572000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
528000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
403000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
156000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1659000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
333000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1326000 usd
CY2023 us-gaap Salaries And Wages
SalariesAndWages
3561000 usd
CY2022 us-gaap Salaries And Wages
SalariesAndWages
2034000 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
521000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
576000 usd
CY2023 SCTC Materials And Subcontractors
MaterialsAndSubcontractors
767000 usd
CY2022 SCTC Materials And Subcontractors
MaterialsAndSubcontractors
1030000 usd
CY2023 us-gaap Depreciation Nonproduction
DepreciationNonproduction
164000 usd
CY2022 us-gaap Depreciation Nonproduction
DepreciationNonproduction
163000 usd
CY2023 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
41000 usd
CY2022 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
73000 usd
CY2023 SCTC Vehicle Expenses
VehicleExpenses
110000 usd
CY2022 SCTC Vehicle Expenses
VehicleExpenses
75000 usd
CY2023 SCTC Rent And Maintenance And Other Expenses
RentAndMaintenanceAndOtherExpenses
438000 usd
CY2022 SCTC Rent And Maintenance And Other Expenses
RentAndMaintenanceAndOtherExpenses
246000 usd
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5602000 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4197000 usd
CY2023 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1109000 usd
CY2022 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
699000 usd
CY2023 us-gaap Labor And Related Expense
LaborAndRelatedExpense
1132000 usd
CY2022 us-gaap Labor And Related Expense
LaborAndRelatedExpense
1027000 usd
CY2023 SCTC Share Based Compensation Included In General And Administartive Expenses
ShareBasedCompensationIncludedInGeneralAndAdministartiveExpenses
994000 usd
CY2022 SCTC Share Based Compensation Included In General And Administartive Expenses
ShareBasedCompensationIncludedInGeneralAndAdministartiveExpenses
903000 usd
CY2023 us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
1037000 usd
CY2022 us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
859000 usd
CY2023 SCTC Patents
Patents
486000 usd
CY2022 SCTC Patents
Patents
292000 usd
CY2023 SCTC Depreciation Included In General And Administartive Expenses
DepreciationIncludedInGeneralAndAdministartiveExpenses
56000 usd
CY2022 SCTC Depreciation Included In General And Administartive Expenses
DepreciationIncludedInGeneralAndAdministartiveExpenses
34000 usd
CY2023 us-gaap General Insurance Expense
GeneralInsuranceExpense
182000 usd
CY2022 us-gaap General Insurance Expense
GeneralInsuranceExpense
337000 usd
CY2023 SCTC Vehicle Expenses Included In General And Administartive Expenses
VehicleExpensesIncludedInGeneralAndAdministartiveExpenses
100000 usd
CY2022 SCTC Vehicle Expenses Included In General And Administartive Expenses
VehicleExpensesIncludedInGeneralAndAdministartiveExpenses
73000 usd
CY2023 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
444000 usd
CY2022 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
181000 usd
CY2022 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
-129000 usd
CY2023 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4431000 usd
CY2022 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3577000 usd
CY2023 SCTC Royalties Agreement Description
RoyaltiesAgreementDescription
Pursuant to the agreement with the IIA relating to the program, the Company has to pay royalties of 3% to the IIA up to the amount IIA funding received and the accrued interest repayment of the grant is contingent upon the Company successfully completing its enhancement plans and generating sales from the enhancements preformed
CY2023 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
60000 usd

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