2024 Q3 Form 10-Q Financial Statement

#000162828024037252 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $22.12M $20.70M
YoY Change 140.93% 58.15%
Cost Of Revenue $10.58M $10.45M
YoY Change 80.69% 33.0%
Gross Profit $11.55M $10.25M
YoY Change 246.83% 95.91%
Gross Profit Margin 52.19% 49.53%
Selling, General & Admin $13.81M $10.14M
YoY Change 57.22% 10.22%
% of Gross Profit 119.6% 98.93%
Research & Development $2.559M $2.354M
YoY Change 5.48% -14.24%
% of Gross Profit 22.16% 22.96%
Depreciation & Amortization $117.0K $104.0K
YoY Change -35.0% -56.12%
% of Gross Profit 1.01% 1.01%
Operating Expenses $16.37M $12.50M
YoY Change 46.03% 4.6%
Operating Profit -$4.822M -$2.244M
YoY Change -38.81% -66.58%
Interest Expense -$112.0K -$20.00K
YoY Change -183.58% -138.46%
% of Operating Profit
Other Income/Expense, Net -$789.0K $1.119M
YoY Change -135.24% -164.02%
Pretax Income -$5.611M -$1.125M
YoY Change -0.53% -86.71%
Income Tax $0.00 $22.00K
% Of Pretax Income
Net Earnings -$5.611M -$1.147M
YoY Change -0.53% -86.45%
Net Earnings / Revenue -25.36% -5.54%
Basic Earnings Per Share -$0.61 -$0.30
Diluted Earnings Per Share -$0.61 -$0.30
COMMON SHARES
Basic Shares Outstanding 9.413M shares 9.048M shares
Diluted Shares Outstanding 11.04M shares 8.867M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.50M $15.36M
YoY Change 41.46% -37.92%
Cash & Equivalents $21.50M $15.36M
Short-Term Investments
Other Short-Term Assets $3.029M $2.171M
YoY Change 59.42% 32.95%
Inventory $10.60M $8.101M
Prepaid Expenses
Receivables $17.15M $16.90M
Other Receivables $0.00 $0.00
Total Short-Term Assets $52.28M $42.53M
YoY Change 39.32% -17.81%
LONG-TERM ASSETS
Property, Plant & Equipment $152.0K $193.0K
YoY Change -69.35% -68.31%
Goodwill
YoY Change
Intangibles $870.0K $2.224M
YoY Change -60.79% -1.29%
Long-Term Investments
YoY Change
Other Assets $2.760M $731.0K
YoY Change 245.0% -28.12%
Total Long-Term Assets $3.849M $3.365M
YoY Change -19.14% -39.02%
TOTAL ASSETS
Total Short-Term Assets $52.28M $42.53M
Total Long-Term Assets $3.849M $3.365M
Total Assets $56.13M $45.90M
YoY Change 32.74% -19.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.52M $17.51M
YoY Change -37.28% -23.06%
Accrued Expenses $12.43M $11.55M
YoY Change 22.68% 3.08%
Deferred Revenue $1.401M $1.242M
YoY Change 54.3% 19.88%
Short-Term Debt $9.875M $9.738M
YoY Change 101.53% 19.1%
Long-Term Debt Due $10.34M $2.110M
YoY Change 52.88% -59.45%
Total Short-Term Liabilities $35.69M $42.15M
YoY Change -13.17% -12.88%
LONG-TERM LIABILITIES
Long-Term Debt $4.585M $0.00
YoY Change 817.0% -100.0%
Other Long-Term Liabilities $143.0K $150.0K
YoY Change -90.3% -91.52%
Total Long-Term Liabilities $4.728M $150.0K
YoY Change 139.51% -96.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.69M $42.15M
Total Long-Term Liabilities $4.728M $150.0K
Total Liabilities $65.52M $66.73M
YoY Change -2.68% -15.52%
SHAREHOLDERS EQUITY
Retained Earnings -$259.1M -$253.5M
YoY Change 4.19% 4.29%
Common Stock $2.000K $1.000K
YoY Change 100.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$21.46M -$33.43M
YoY Change
Total Liabilities & Shareholders Equity $56.13M $45.90M
YoY Change 32.74% -19.85%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$5.611M -$1.147M
YoY Change -0.53% -86.45%
Depreciation, Depletion And Amortization $117.0K $104.0K
YoY Change -35.0% -56.12%
Cash From Operating Activities -$7.856M -$3.335M
YoY Change 51.37% -54.83%
INVESTING ACTIVITIES
Capital Expenditures $601.0K $67.00K
YoY Change 5910.0% 509.09%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$601.0K -$67.00K
YoY Change 5910.0% 509.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.98M 368.0K
YoY Change -442.7% -95.01%
NET CHANGE
Cash From Operating Activities -7.856M -3.335M
Cash From Investing Activities -601.0K -67.00K
Cash From Financing Activities 14.98M 368.0K
Net Change In Cash 6.519M -3.034M
YoY Change -168.12% 15868.42%
FREE CASH FLOW
Cash From Operating Activities -$7.856M -$3.335M
Capital Expenditures $601.0K $67.00K
Free Cash Flow -$8.457M -$3.402M
YoY Change 62.63% -53.99%

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1196000 usd
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281000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
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AllowanceForDoubtfulAccountsReceivable
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us-gaap Provision For Doubtful Accounts
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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PropertyPlantAndEquipmentNet
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CY2024Q2 us-gaap Impairment Of Intangible Assets Finitelived
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owlt Provision For Warranties Issued During The Period
ProvisionForWarrantiesIssuedDuringThePeriod
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ProvisionForWarrantiesIssuedDuringThePeriod
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SettlementsOfWarrantyClaimsDuringThePeriod
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StandardProductWarrantyAccrual
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StandardProductWarrantyAccrual
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ContractWithCustomerLiability
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ContractWithCustomerLiability
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ContractWithCustomerLiabilityAdditions
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ContractWithCustomerLiabilityAdditions
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ContractWithCustomerLiabilityAdditions
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606000 usd
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ContractWithCustomerLiability
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CY2024Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
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9738000 usd
CY2024Q2 us-gaap Line Of Credit
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9738000 usd
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LongTermDebtFutureAggregateMaturityRemainderOfFiscalYear
2110000 usd
CY2024Q2 owlt Long Term Debt Future Aggregate Maturity Total
LongTermDebtFutureAggregateMaturityTotal
2110000 usd
CY2023Q1 owlt Related Party Transaction Monthly Interest Payment To Related Party
RelatedPartyTransactionMonthlyInterestPaymentToRelatedParty
3000000 usd
CY2023Q1 owlt Related Party Transaction Monthly Interest Payment To Related Party Payment Period
RelatedPartyTransactionMonthlyInterestPaymentToRelatedPartyPaymentPeriod
P36M
CY2021Q4 us-gaap Loss Contingency New Claims Filed Number
LossContingencyNewClaimsFiledNumber
2 claim
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2104000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2644000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4331000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5433000 usd
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
482000 usd
CY2024Q1 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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102000 usd
CY2020Q3 owlt Period Required For Warrants To Become Exercisable Initial Public Offering
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CY2024Q2 us-gaap Warrants And Rights Outstanding Term
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P5Y
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
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owlt Class Of Warrant Or Right Warrants Issued During Period
ClassOfWarrantOrRightWarrantsIssuedDuringPeriod
1799021 shares
owlt Class Of Warrant Or Right Warrants Exercised During Period
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CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
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CY2024Q2 us-gaap Assets Fair Value Disclosure
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15232000 usd
CY2024Q2 us-gaap Liabilities Fair Value Disclosure
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24429000 usd
CY2023Q4 us-gaap Assets Fair Value Disclosure
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16489000 usd
CY2023Q4 us-gaap Liabilities Fair Value Disclosure
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27781000 usd
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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27781000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
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6855000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
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CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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CY2024Q2 us-gaap Net Income Loss
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CY2023Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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2127000 usd
us-gaap Net Income Loss
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CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q2 us-gaap Earnings Per Share Basic
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CY2023Q2 us-gaap Earnings Per Share Basic
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EarningsPerShareDiluted
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2024Q2 owlt Common Stock Shares Subject To Vesting
CommonStockSharesSubjectToVesting
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us-gaap Number Of Operating Segments
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CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2024Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
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410000 usd
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
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CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
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NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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