2022 Q2 Form 10-Q Financial Statement

#000143774922012908 Filed on May 18, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q2
Revenue $4.096M $2.240M
YoY Change 82.86% 2.0%
Cost Of Revenue $1.635M $1.096M
YoY Change 49.18% -8.05%
Gross Profit $2.461M $1.144M
YoY Change 115.12% 13.94%
Gross Profit Margin 60.08% 51.07%
Selling, General & Admin $2.137M $1.947M
YoY Change 9.76% 16.94%
% of Gross Profit 86.83% 170.19%
Research & Development $1.333M $1.887M
YoY Change -29.36% -14.23%
% of Gross Profit 54.16% 164.95%
Depreciation & Amortization $162.0K $160.0K
YoY Change 1.25% -27.27%
% of Gross Profit 6.58% 13.99%
Operating Expenses $3.470M $3.834M
YoY Change -9.49% -1.67%
Operating Profit -$1.009M -$2.690M
YoY Change -62.49% -7.08%
Interest Expense $33.00K $32.00K
YoY Change 3.13% -82.51%
% of Operating Profit
Other Income/Expense, Net -$123.0K -$7.000K
YoY Change 1657.14% -109.72%
Pretax Income -$1.165M -$1.537M
YoY Change -24.2% -48.87%
Income Tax -$1.000K $152.0K
% Of Pretax Income
Net Earnings -$1.164M -$1.689M
YoY Change -31.08% -43.3%
Net Earnings / Revenue -28.42% -75.4%
Basic Earnings Per Share -$0.10 -$0.15
Diluted Earnings Per Share -$95.99K -$150.1K
COMMON SHARES
Basic Shares Outstanding 12.13K 11.26K
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q2 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.14M $20.90M
YoY Change -3.64% -20.83%
Cash & Equivalents $20.14M $20.90M
Short-Term Investments
Other Short-Term Assets $203.0K $1.367M
YoY Change -85.15% 631.02%
Inventory $2.292M $2.490M
Prepaid Expenses $916.0K $913.0K
Receivables $1.581M $1.302M
Other Receivables $0.00 $0.00
Total Short-Term Assets $25.13M $26.09M
YoY Change -3.69% -17.78%
LONG-TERM ASSETS
Property, Plant & Equipment $499.0K $631.0K
YoY Change -20.92% 6.77%
Goodwill $185.0K $185.0K
YoY Change 0.0% 0.0%
Intangibles $725.0K $833.0K
YoY Change -12.97% -10.81%
Long-Term Investments $300.0K
YoY Change
Other Assets $306.0K $283.0K
YoY Change 8.13% -2.75%
Total Long-Term Assets $4.642M $4.659M
YoY Change -0.36% -4.63%
TOTAL ASSETS
Total Short-Term Assets $25.13M $26.09M
Total Long-Term Assets $4.642M $4.659M
Total Assets $29.77M $30.75M
YoY Change -3.18% -16.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.332M $1.400M
YoY Change -4.86% -12.5%
Accrued Expenses $1.963M $1.546M
YoY Change 26.97% 73.71%
Deferred Revenue $67.00K $166.0K
YoY Change -59.64%
Short-Term Debt $15.00M $15.00M
YoY Change 0.0% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.12M $18.80M
YoY Change 1.73% -0.01%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $125.0K $230.0K
YoY Change -45.65% -84.67%
Total Long-Term Liabilities $125.0K $230.0K
YoY Change -45.65% -89.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.12M $18.80M
Total Long-Term Liabilities $125.0K $230.0K
Total Liabilities $19.86M $20.07M
YoY Change -1.03% -4.42%
SHAREHOLDERS EQUITY
Retained Earnings -$302.2M -$296.1M
YoY Change 2.06%
Common Stock $12.00K $11.00K
YoY Change 9.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.910M $10.68M
YoY Change
Total Liabilities & Shareholders Equity $29.77M $30.75M
YoY Change -3.18% -15.98%

Cashflow Statement

Concept 2022 Q2 2021 Q2
OPERATING ACTIVITIES
Net Income -$1.164M -$1.689M
YoY Change -31.08% -43.3%
Depreciation, Depletion And Amortization $162.0K $160.0K
YoY Change 1.25% -27.27%
Cash From Operating Activities -$700.0K -$1.003M
YoY Change -30.21% -28.36%
INVESTING ACTIVITIES
Capital Expenditures $10.00K $144.0K
YoY Change -93.06% -196.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$149.0K -$283.0K
YoY Change -47.35% 88.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.482M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $1.384M -$527.0K
YoY Change -362.62% -105.89%
NET CHANGE
Cash From Operating Activities -$700.0K -$1.003M
Cash From Investing Activities -$149.0K -$283.0K
Cash From Financing Activities $1.384M -$527.0K
Net Change In Cash $535.0K -$1.813M
YoY Change -129.51% -124.5%
FREE CASH FLOW
Cash From Operating Activities -$700.0K -$1.003M
Capital Expenditures $10.00K $144.0K
Free Cash Flow -$710.0K -$1.147M
YoY Change -38.1% -8.24%

Facts In Submission

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CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition
484000 USD
CY2021Q2 quik Adjustmentsto Additional Paid In Capital Sharebased Payment Arrangement Decrease For Cost Recognition Total
AdjustmentstoAdditionalPaidInCapitalSharebasedPaymentArrangementDecreaseForCostRecognitionTotal
-368000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-1689000 USD
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
10682000 USD
CY2022Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1698000 USD
CY2022Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1397000 USD
CY2022Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
594000 USD
CY2022Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
681000 USD
CY2022Q2 us-gaap Inventory Net
InventoryNet
2292000 USD
CY2022Q1 us-gaap Inventory Net
InventoryNet
2078000 USD
CY2022Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
916000 USD
CY2022Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
921000 USD
CY2022Q2 us-gaap Other Assets Current
OtherAssetsCurrent
203000 USD
CY2022Q1 us-gaap Other Assets Current
OtherAssetsCurrent
260000 USD
CY2022Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1119000 USD
CY2022Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1181000 USD
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12759000 USD
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12717000 USD
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
12260000 USD
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
12218000 USD
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
499000 USD
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
499000 USD
CY2022Q2 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
1837000 USD
CY2022Q1 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
1699000 USD
CY2022Q2 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
546000 USD
CY2022Q1 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
458000 USD
CY2022Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
1291000 USD
CY2022Q1 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
1241000 USD
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1069000 USD
CY2022Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
953000 USD
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
894000 USD
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
712000 USD
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1963000 USD
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1665000 USD
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000 USD
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
100000 USD
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
103000 USD
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
6000 USD
CY2021Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
4000 USD
CY2022Q2 quik Operating Lease Cost Net
OperatingLeaseCostNet
106000 USD
CY2021Q2 quik Operating Lease Cost Net
OperatingLeaseCostNet
107000 USD
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
109000 USD
CY2021Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
98000 USD
CY2022Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
7000 USD
CY2021Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
7000 USD
CY2022Q2 quik Finance Lease Cost
FinanceLeaseCost
116000 USD
CY2021Q2 quik Finance Lease Cost
FinanceLeaseCost
105000 USD
CY2022Q2 quik Right Of Use Asset Obtained In Exchange For Finance And Operating Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceAndOperatingLeaseLiability
0 USD
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
100000 USD
CY2021Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
102000 USD
CY2022Q2 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
7000 USD
CY2021Q2 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
8000 USD
CY2022Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
98000 USD
CY2021Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
43000 USD
CY2022Q2 quik Operating And Financing Cash Flows From Leases
OperatingAndFinancingCashFlowsFromLeases
205000 USD
CY2021Q2 quik Operating And Financing Cash Flows From Leases
OperatingAndFinancingCashFlowsFromLeases
153000 USD
CY2022Q2 quik Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
1336000 USD
CY2022Q1 quik Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
1529000 USD
CY2022Q2 quik Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
1377000 USD
CY2022Q1 quik Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
1563000 USD
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
422000 USD
CY2022Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
141000 USD
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
106000 USD
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
105000 USD
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
837000 USD
CY2022Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
616000 USD
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
51000 USD
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
309000 USD
CY2022Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
370000 USD
CY2022Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
25000 USD
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M
CY2022Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y11M23D
CY2022Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y1M24D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600 pure
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600 pure
CY2022Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0451 pure
CY2022Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0457 pure
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
383000 USD
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
368000 USD
CY2022Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0 USD
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
27.49
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y11M4D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
93000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
93000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
27.49
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y2M8D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
93000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
27.49
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y11M4D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
0 USD
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
93000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
27.49
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P2Y11M4D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
0 USD
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2022Q2 quik Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Net Of Forfeitures Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNetOfForfeituresFairValue
0 USD
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
-0.043 pure
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0 USD
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4096000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2240000 USD
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4096000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2240000 USD

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