2024 Q3 Form 10-Q Financial Statement

#000121390024068354 Filed on August 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q4
Revenue $3.841M $4.238M $1.832M
YoY Change -14.28% 76.36% -52.87%
Cost Of Revenue $2.034M $1.887M $4.531M
YoY Change -16.81% 5.13% 108.99%
Gross Profit $1.807M $2.351M -$2.699M
YoY Change -11.25% 286.68% -257.01%
Gross Profit Margin 47.05% 55.47% -147.33%
Selling, General & Admin $2.349M $2.141M $2.174M
YoY Change 11.22% 8.3% 0.18%
% of Gross Profit 129.99% 91.07%
Research & Development $2.158M $2.644M $3.359M
YoY Change -38.06% -27.92% -18.71%
% of Gross Profit 119.42% 112.46%
Depreciation & Amortization $981.0K $991.0K $1.051M
YoY Change -6.57% 3.44% 36.85%
% of Gross Profit 54.29% 42.15%
Operating Expenses $4.507M $6.826M $5.533M
YoY Change -19.46% 20.92% -12.2%
Operating Profit -$2.700M -$4.475M -$8.232M
YoY Change -24.16% -11.16% 79.62%
Interest Expense -$21.00K
YoY Change -250.0%
% of Operating Profit
Other Income/Expense, Net -$16.00K -$4.000K -$706.0K
YoY Change -100.54% -100.42% 805.13%
Pretax Income -$2.712M -$4.425M -$8.938M
YoY Change 337.42% 8.3% -38.75%
Income Tax
% Of Pretax Income
Net Earnings -$2.712M -$4.425M -$8.938M
YoY Change 335.31% 8.3% -38.75%
Net Earnings / Revenue -70.61% -104.41% -487.88%
Basic Earnings Per Share -$0.98 -$1.88
Diluted Earnings Per Share -$0.98 -$1.88 -$12.48
COMMON SHARES
Basic Shares Outstanding 2.746M shares 2.595M shares 25.34M shares
Diluted Shares Outstanding 2.780M shares 2.358M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.317M $1.868M $1.583M
YoY Change 88.14% -31.82% -45.53%
Cash & Equivalents $1.317M $1.868M $1.583M
Short-Term Investments $0.00
Other Short-Term Assets $635.0K $810.0K $620.0K
YoY Change -20.63% 11.11% -47.19%
Inventory $2.503M $2.606M $2.606M
Prepaid Expenses $28.00K
Receivables $791.0K $1.460M $731.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.246M $6.744M $5.540M
YoY Change -48.72% -33.4% -56.42%
LONG-TERM ASSETS
Property, Plant & Equipment $643.0K $807.0K $1.771M
YoY Change -60.41% -56.38% -20.4%
Goodwill
YoY Change
Intangibles $3.280M
YoY Change -47.75%
Long-Term Investments
YoY Change
Other Assets $121.0K $120.0K $123.0K
YoY Change 0.0% -2.44% 0.0%
Total Long-Term Assets $1.949M $3.015M $5.174M
YoY Change -70.47% -61.46% -47.06%
TOTAL ASSETS
Total Short-Term Assets $5.246M $6.744M $5.540M
Total Long-Term Assets $1.949M $3.015M $5.174M
Total Assets $7.195M $9.759M $10.71M
YoY Change -57.25% -45.63% -52.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.705M $2.318M $2.448M
YoY Change -33.99% 102.98% 32.75%
Accrued Expenses $2.399M $2.213M $981.0K
YoY Change 139.9% 36.18% -60.82%
Deferred Revenue $555.0K $797.0K $1.105M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.873M $5.600M $4.534M
YoY Change 31.92% 90.35% -3.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $197.0K $261.0K $2.097M
YoY Change -85.93% -93.42% -17.73%
Total Long-Term Liabilities $197.0K $261.0K $2.097M
YoY Change -85.93% -93.42% -17.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.873M $5.600M $4.534M
Total Long-Term Liabilities $197.0K $261.0K $2.097M
Total Liabilities $5.169M $6.199M $6.631M
YoY Change 1.83% -10.28% -8.27%
SHAREHOLDERS EQUITY
Retained Earnings -$175.6M -$172.8M -$166.4M
YoY Change 11.5% 10.21% 11.23%
Common Stock $3.000K $3.000K $1.000K
YoY Change -88.0% -86.36% -92.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.026M $3.560M $4.083M
YoY Change
Total Liabilities & Shareholders Equity $7.195M $9.759M $10.71M
YoY Change -57.25% -45.63% -52.35%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income -$2.712M -$4.425M -$8.938M
YoY Change 335.31% 8.3% -38.75%
Depreciation, Depletion And Amortization $981.0K $991.0K $1.051M
YoY Change -6.57% 3.44% 36.85%
Cash From Operating Activities -$683.0K -$659.0K $940.0K
YoY Change -66.84% -69.49% -136.14%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $4.000K
YoY Change -99.03%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 -$4.000K
YoY Change -100.0% -99.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 132.0K 92.00K -41.00K
YoY Change -97.38% -102.07%
NET CHANGE
Cash From Operating Activities -683.0K -659.0K 940.0K
Cash From Investing Activities 0.000 -4.000K
Cash From Financing Activities 132.0K 92.00K -41.00K
Net Change In Cash -551.0K -567.0K 895.0K
YoY Change -62.26% -142.28% -187.4%
FREE CASH FLOW
Cash From Operating Activities -$683.0K -$659.0K $940.0K
Capital Expenditures $0.00 $4.000K
Free Cash Flow -$683.0K $936.0K
YoY Change -66.84% -131.08%

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P10Y
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us-gaap Proceeds From Issuance Of Warrants
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3400000 usd
CY2024Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
139108 shares
CY2024Q1 us-gaap Shares Issued Price Per Share
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CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
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CY2023Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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CY2024Q1 us-gaap Class Of Warrant Or Righst Date From Which Warrants Or Rights Exercisable
ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable
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CY2024Q1 prso Prefundedwarrantsissued
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1425 shares
CY2024Q1 prso Prefundedwarrantsissued Exercise Price
PrefundedwarrantsissuedExercisePrice
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CY2024Q1 prso Prefundedwarrantsexercised
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-1001 shares
CY2024Q1 prso Exercise Price Prefunded Warrants Exercised
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CY2024Q1 us-gaap Class Of Warrant Or Right Outstanding
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8518 shares
CY2024Q2 prso Prefundedwarrantsexercised
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CY2024Q2 prso Exercise Price Prefunded Warrants Exercised
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CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
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prso Percentage Of Fair Value Volatility
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1 pure
CY2024Q2 us-gaap Payments To Employees
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27800 usd
us-gaap Payments To Employees
PaymentsToEmployees
55300 usd
us-gaap Asset Acquisition Consideration Transferred Transaction Cost
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3062500 usd
us-gaap Asset Acquisition Consideration Transferred Equity Interest Issued And Issuable
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437500 usd
CY2022 us-gaap Sale And Leaseback Transaction Gain Loss Net
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2600000 usd
CY2023Q2 us-gaap Sale And Leaseback Transaction Gain Loss Net
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400000 usd
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400000 usd
us-gaap Proceeds From Customers
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9100000 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q2 prso Rule10b51 Arr Modified Flag
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CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
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CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
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CY2023Q2 us-gaap Earnings Per Share Diluted
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612000 shares
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Stock Split
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prso Initial Recognition Of Warrant Liability
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CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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CY2023Q4 us-gaap Program Rights Obligations
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CY2023Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
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CY2024Q2 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
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CY2024Q2 us-gaap Finance Lease Right Of Use Asset Statement Of Financial Position Extensible List
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http://www.PRSO.com/20240630#RightofuseLeaseAssets
CY2024Q2 us-gaap Operating Lease Liability Statement Of Financial Position Extensible List
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CY2024Q2 us-gaap Finance Lease Liability Statement Of Financial Position Extensible List
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http://www.PRSO.com/20240630#LeaseLiabilities
CY2024Q1 prso Expiration Prefunded Warrants Issued
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CY2024Q1 prso Expiration Prefunded Warrants Exercised
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CY2024Q2 prso Expiration Prefunded Warrants Exercised
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dei Amendment Flag
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dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
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dei Entity Central Index Key
EntityCentralIndexKey
0000890394

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prso-20240630_def.xml Edgar Link unprocessable