$QMCI
QUOTEMEDIA INC

2024 Q1 Form 10-K Financial Statement

#000165495424004360 Filed on April 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $4.679M $4.682M $18.91M
YoY Change -1.49% 2.36% 7.87%
Cost Of Revenue $2.342M $2.322M $9.263M
YoY Change 0.96% -2.15% 3.24%
Gross Profit $2.337M $2.361M $9.645M
YoY Change -3.83% 7.23% 12.73%
Gross Profit Margin 49.95% 50.42% 51.01%
Selling, General & Admin $1.586M $1.564M $6.476M
YoY Change -5.43% 5.74% 8.51%
% of Gross Profit 67.84% 66.24% 67.15%
Research & Development $803.3K $717.5K $2.757M
YoY Change 27.5% 31.18% 31.51%
% of Gross Profit 34.37% 30.39% 28.59%
Depreciation & Amortization $728.7K $705.9K $2.646M
YoY Change 16.03% 22.48% 24.74%
% of Gross Profit 31.18% 29.9% 27.43%
Operating Expenses $2.389M $2.281M $9.233M
YoY Change 3.57% 12.61% 14.49%
Operating Profit -$51.79K $79.53K $411.4K
YoY Change -141.95% -54.76% -16.15%
Interest Expense -$953.00 -$29.57K -$46.87K
YoY Change -89.92% 13.3% 8.67%
% of Operating Profit -37.18% -11.39%
Other Income/Expense, Net $24.35K -$46.86K
YoY Change -357.63% 8.67%
Pretax Income -$27.44K $49.97K $364.6K
YoY Change -124.06% -66.62% -18.54%
Income Tax -$738.00 $750.00 $2.970K
% Of Pretax Income 1.5% 0.81%
Net Earnings -$28.18K $49.22K $361.6K
YoY Change -124.87% -66.96% -18.65%
Net Earnings / Revenue -0.6% 1.05% 1.91%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 90.48M shares 90.48M shares 90.48M shares
Diluted Shares Outstanding 90.48M shares 121.0M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $244.3K $342.0K $342.0K
YoY Change -63.81% -28.45% -28.45%
Cash & Equivalents $244.3K $342.0K $342.0K
Short-Term Investments
Other Short-Term Assets $118.5K $238.4K $238.4K
YoY Change 126.94% 719.5% -8.58%
Inventory
Prepaid Expenses $218.2K $133.5K
Receivables $1.287M $1.155M $1.155M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.868M $1.735M $1.735M
YoY Change 2.06% 5.22% 5.22%
LONG-TERM ASSETS
Property, Plant & Equipment $277.6K $5.249M $5.249M
YoY Change -93.66% 24.72% 11.33%
Goodwill $110.0K $110.0K
YoY Change 0.0% 0.0%
Intangibles $59.17K $65.64K
YoY Change -17.35% -10.79%
Long-Term Investments
YoY Change
Other Assets $16.56K $16.85K $16.85K
YoY Change -17.37% 12.33% 12.33%
Total Long-Term Assets $5.487M $5.441M $5.441M
YoY Change 8.9% 10.75% 10.75%
TOTAL ASSETS
Total Short-Term Assets $1.868M $1.735M $1.735M
Total Long-Term Assets $5.487M $5.441M $5.441M
Total Assets $7.355M $7.176M $7.176M
YoY Change 7.08% 9.36% 9.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.523M $2.211M $2.211M
YoY Change 6.48% -12.01% -12.01%
Accrued Expenses $204.5K $206.2K $206.2K
YoY Change 18.89% 18.36% 18.36%
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 $4.233M $3.873M $3.873M
YoY Change 16.41% 0.51% 0.51%
LONG-TERM LIABILITIES
Long-Term Debt $611.6K $611.6K $611.6K
YoY Change -13.56% -2.83% -2.83%
Other Long-Term Liabilities $414.3K $567.3K $567.3K
YoY Change -36.85% 75.26% 75.26%
Total Long-Term Liabilities $1.026M $1.179M $1.179M
YoY Change -24.76% 23.69% 23.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.233M $3.873M $3.873M
Total Long-Term Liabilities $1.026M $1.179M $1.179M
Total Liabilities $5.259M $5.052M $5.052M
YoY Change 5.18% 5.11% 5.11%
SHAREHOLDERS EQUITY
Retained Earnings -$19.89M -$19.86M
YoY Change -1.09% -1.79%
Common Stock $90.48K $90.48K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$888.1K $2.124M $2.124M
YoY Change
Total Liabilities & Shareholders Equity $7.355M $7.176M $7.176M
YoY Change 7.08% 9.36% 9.36%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$28.18K $49.22K $361.6K
YoY Change -124.87% -66.96% -18.65%
Depreciation, Depletion And Amortization $728.7K $705.9K $2.646M
YoY Change 16.03% 22.48% 24.74%
Cash From Operating Activities $727.7K $348.9K $3.149M
YoY Change -26.67% -63.26% 0.23%
INVESTING ACTIVITIES
Capital Expenditures $10.09K $824.9K $3.285M
YoY Change -64.95% 6.39% 1900.26%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$825.4K -$824.9K -$3.285M
YoY Change 3.79% 6.39% 12.49%
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
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities $727.7K 348.9K 3.149M
Cash From Investing Activities -$825.4K -824.9K -3.285M
Cash From Financing Activities 0.000 0.000
Net Change In Cash -$97.74K -476.0K -136.0K
YoY Change -149.59% -373.04% -162.01%
FREE CASH FLOW
Cash From Operating Activities $727.7K $348.9K $3.149M
Capital Expenditures $10.09K $824.9K $3.285M
Free Cash Flow $717.6K -$476.0K -$136.0K
YoY Change -25.53% -373.04% -104.57%

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, disclosure of contingent assets and liabilities as of the year end and the reported amount of revenue and expenses during the year. Such estimates include (i) fair values used to test goodwill and capitalized development costs for impairment; (ii) the amount of allowance for doubtful accounts, (iii) the capitalization of software development costs, (iv) income taxes, (v) the incremental borrowing rate for operating leases, (vi) the useful life of property and equipment, and (vii) stock-based compensation. Actual results and outcomes may differ from management’s estimates and assumptions.</p>
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