2024 Q2 Form 10-Q Financial Statement

#000143774924018357 Filed on May 24, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q2
Revenue $1.413M $1.199M $1.202M
YoY Change 17.51% 6.55% -0.59%
Cost Of Revenue $308.2K $260.8K $265.2K
YoY Change 16.23% -1.05% -20.18%
Gross Profit $1.105M $937.8K $937.0K
YoY Change 17.87% 8.88% 6.83%
Gross Profit Margin 78.18% 78.24% 77.94%
Selling, General & Admin $1.096M $503.2K $940.2K
YoY Change 16.53% 12.65% -4.43%
% of Gross Profit 99.2% 53.66% 100.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.74K $20.93K $19.34K
YoY Change 7.24% 83.11% 85.96%
% of Gross Profit 1.88% 2.23% 2.06%
Operating Expenses $1.096M $503.2K $940.2K
YoY Change 16.53% 12.65% -4.42%
Operating Profit $8.890K -$81.79K -$3.150K
YoY Change -382.22% 59.66% -97.05%
Interest Expense $7.190K $6.620K $4.870K
YoY Change 47.64% 71.41% 1375.76%
% of Operating Profit 80.88%
Other Income/Expense, Net $9.150K $15.93K $8.820K
YoY Change 3.74% 28.56%
Pretax Income $25.24K -$65.86K $10.53K
YoY Change 139.7% 69.58% -109.91%
Income Tax -$12.74K $36.93K $3.040K
% Of Pretax Income -50.48% 28.87%
Net Earnings $37.98K -$102.8K $7.491K
YoY Change 406.96% 248.78% -109.44%
Net Earnings / Revenue 2.69% -8.58% 0.62%
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share $0.01 -$0.01 $0.00
COMMON SHARES
Basic Shares Outstanding 8.108M 8.108M 8.087M
Diluted Shares Outstanding 8.108M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $908.8K $901.7K $1.014M
YoY Change -10.35% 2.21% -2.66%
Cash & Equivalents $326.1K $325.1K $451.3K
Short-Term Investments $582.7K $576.5K $562.5K
Other Short-Term Assets $434.2K $373.0K $298.5K
YoY Change 45.46% -18.02% -20.37%
Inventory $510.0K $535.5K $431.4K
Prepaid Expenses
Receivables $512.9K $481.9K $494.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.366M $2.292M $2.238M
YoY Change 5.73% -4.47% -13.44%
LONG-TERM ASSETS
Property, Plant & Equipment $262.0K $281.1K $281.0K
YoY Change -6.76% 92.15% 82.84%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $221.4K $270.4K $500.9K
YoY Change -55.81% -45.33% 47.07%
Total Long-Term Assets $838.5K $954.6K $1.326M
YoY Change -36.77% -22.3% 8.93%
TOTAL ASSETS
Total Short-Term Assets $2.366M $2.292M $2.238M
Total Long-Term Assets $838.5K $954.6K $1.326M
Total Assets $3.204M $3.247M $3.564M
YoY Change -10.08% -10.51% -6.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $160.9K $208.4K $175.1K
YoY Change -8.07% 0.17% -1.7%
Accrued Expenses $608.3K $582.1K $451.1K
YoY Change 34.86% 30.53% -3.03%
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 $769.2K $790.5K $626.1K
YoY Change 22.86% 20.87% -2.66%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $139.2K $185.4K $319.9K
YoY Change -56.48% -49.03% -34.89%
Total Long-Term Liabilities $147.9K $206.8K $319.9K
YoY Change -53.77% -43.14% -34.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $769.2K $790.5K $626.1K
Total Long-Term Liabilities $147.9K $206.8K $319.9K
Total Liabilities $917.1K $997.3K $946.0K
YoY Change -3.05% -2.01% -16.62%
SHAREHOLDERS EQUITY
Retained Earnings -$2.331M -$2.369M -$1.989M
YoY Change 17.15% 18.61% 2.59%
Common Stock $4.462M $4.450M $4.445M
YoY Change 0.39% 0.12% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.287M $2.249M $2.618M
YoY Change
Total Liabilities & Shareholders Equity $3.204M $3.247M $3.564M
YoY Change -10.08% -10.51% -6.28%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q2
OPERATING ACTIVITIES
Net Income $37.98K -$102.8K $7.491K
YoY Change 406.96% 248.78% -109.44%
Depreciation, Depletion And Amortization $20.74K $20.93K $19.34K
YoY Change 7.24% 83.11% 85.96%
Cash From Operating Activities $2.640K $58.08K $157.7K
YoY Change -98.33% 47.79% 1407.84%
INVESTING ACTIVITIES
Capital Expenditures $1.620K $750.00 $154.1K
YoY Change -98.95% -67.81% -781.34%
Acquisitions
YoY Change
Other Investing Activities $0.00 $2.860K
YoY Change -100.0%
Cash From Investing Activities -$1.620K -$750.00 -$151.2K
YoY Change -98.93% -99.73% 568.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 121.0K
YoY Change -100.0% -100.0% -423.16%
NET CHANGE
Cash From Operating Activities 2.640K 58.08K 157.7K
Cash From Investing Activities -1.620K -750.0 -151.2K
Cash From Financing Activities 0.000 0.000 121.0K
Net Change In Cash 1.020K 57.33K 127.5K
YoY Change -99.2% -120.4% -357.15%
FREE CASH FLOW
Cash From Operating Activities $2.640K $58.08K $157.7K
Capital Expenditures $1.620K $750.00 $154.1K
Free Cash Flow $1.020K $57.33K $3.670K
YoY Change -72.21% 55.07% -88.9%

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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received
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23888 usd

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