2023 Q1 Form 10-K Financial Statement

#000143774923008214 Filed on March 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2023 2022
Revenue $4.084M $16.18M $12.69M
YoY Change 10.23% 27.55% 46.92%
Cost Of Revenue $1.965M $7.378M $5.266M
YoY Change 20.7% 40.11% 20.06%
Gross Profit $2.119M $8.802M $7.419M
YoY Change 2.02% 18.64% 74.65%
Gross Profit Margin 51.89% 54.4% 58.49%
Selling, General & Admin $1.527M $7.545M $8.008M
YoY Change -26.62% -5.78% 17.42%
% of Gross Profit 72.06% 85.72% 107.94%
Research & Development $1.460M $5.001M $6.927M
YoY Change -7.65% -27.8% -8.18%
% of Gross Profit 68.9% 56.82% 93.37%
Depreciation & Amortization $194.0K $710.0K $626.0K
YoY Change 25.16% 13.42% -23.66%
% of Gross Profit 9.16% 8.07% 8.44%
Operating Expenses $2.987M $12.55M $14.94M
YoY Change -18.43% -16.0% 3.98%
Operating Profit -$868.0K -$3.744M -$7.516M
YoY Change -45.24% -50.19% -30.85%
Interest Expense -$50.00K -$148.0K $130.0K
YoY Change 233.33% -213.85% -60.37%
% of Operating Profit
Other Income/Expense, Net -$179.0K -$221.0K -$43.00K
YoY Change 413.95% -144.33%
Pretax Income -$1.153M -$4.169M -$6.497M
YoY Change -27.94% -35.83% -41.47%
Income Tax $79.00K $98.00K $119.0K
% Of Pretax Income
Net Earnings -$1.232M -$4.267M -$6.616M
YoY Change -22.17% -35.5% -40.67%
Net Earnings / Revenue -30.17% -26.37% -52.16%
Basic Earnings Per Share -$0.34 -$0.57
Diluted Earnings Per Share -$0.09 -$0.34 -$573.6K
COMMON SHARES
Basic Shares Outstanding 13.24M 12.59M 11.54M
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2023 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.20M $19.20M $19.61M
YoY Change -2.06% -2.06% -13.63%
Cash & Equivalents $19.20M $19.20M $19.61M
Short-Term Investments
Other Short-Term Assets $1.570M $1.570M $1.181M
YoY Change 503.85% 32.94% 7.36%
Inventory $2.493M $2.493M $2.078M
Prepaid Expenses $1.305M
Receivables $4.676M $4.676M $1.294M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $27.94M $27.94M $24.16M
YoY Change 15.66% 15.66% -14.33%
LONG-TERM ASSETS
Property, Plant & Equipment $1.862M $1.862M $2.028M
YoY Change 273.15% -8.19% -15.5%
Goodwill $185.0K
YoY Change 0.0%
Intangibles $645.0K
YoY Change -14.23%
Long-Term Investments $300.0K $300.0K $300.0K
YoY Change 0.0% 0.0% 0.0%
Other Assets $140.0K $140.0K $309.0K
YoY Change -54.69% -54.69% 3.0%
Total Long-Term Assets $4.646M $4.646M $4.815M
YoY Change -3.51% -3.51% 2.45%
TOTAL ASSETS
Total Short-Term Assets $27.94M $27.94M $24.16M
Total Long-Term Assets $4.646M $4.646M $4.815M
Total Assets $32.59M $32.59M $28.97M
YoY Change 12.47% 12.47% -11.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.391M $2.391M $934.0K
YoY Change 156.0% 156.0% 3.78%
Accrued Expenses $2.359M $2.359M $2.484M
YoY Change 41.68% -5.03% 24.2%
Deferred Revenue $272.0K
YoY Change -40.22%
Short-Term Debt $15.00M $15.00M $15.00M
YoY Change 0.0% 0.0% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $20.02M $20.02M $18.87M
YoY Change 6.09% 6.09% 4.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $669.0K $669.0K $891.0K
YoY Change 355.1% -24.92% -25.75%
Total Long-Term Liabilities $669.0K $669.0K $891.0K
YoY Change 355.1% -24.92% -62.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.02M $20.02M $18.87M
Total Long-Term Liabilities $669.0K $669.0K $891.0K
Total Liabilities $20.69M $20.69M $19.76M
YoY Change 4.69% 4.69% -3.12%
SHAREHOLDERS EQUITY
Retained Earnings -$305.3M
YoY Change 1.42%
Common Stock $13.00K
YoY Change 8.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.90M $11.90M $9.209M
YoY Change
Total Liabilities & Shareholders Equity $32.59M $32.59M $28.97M
YoY Change 12.47% 12.47% -11.94%

Cashflow Statement

Concept 2023 Q1 2023 2022
OPERATING ACTIVITIES
Net Income -$1.232M -$4.267M -$6.616M
YoY Change -22.17% -35.5% -40.67%
Depreciation, Depletion And Amortization $194.0K $710.0K $626.0K
YoY Change 25.16% 13.42% -23.66%
Cash From Operating Activities -$633.0K -$4.056M -$2.859M
YoY Change -426.29% 41.87% -57.61%
INVESTING ACTIVITIES
Capital Expenditures $180.0K $142.0K $185.0K
YoY Change -230.43% -23.24% -26.88%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$180.0K -$814.0K -$718.0K
YoY Change 30.43% 13.37% -31.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.342M
YoY Change -85.56%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -22.00K $4.466M $434.0K
YoY Change -31.25% 929.03% -95.18%
NET CHANGE
Cash From Operating Activities -633.0K -$4.056M -$2.859M
Cash From Investing Activities -180.0K -$814.0K -$718.0K
Cash From Financing Activities -22.00K $4.466M $434.0K
Net Change In Cash -835.0K -$404.0K -$3.143M
YoY Change -3579.17% -87.15% -361.92%
FREE CASH FLOW
Cash From Operating Activities -$633.0K -$4.056M -$2.859M
Capital Expenditures $180.0K $142.0K $185.0K
Free Cash Flow -$813.0K -$4.198M -$3.044M
YoY Change -344.88% 37.91% -56.5%

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CY2021 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-0 usd
CY2023 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
27000 usd
CY2022 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
5000 usd
CY2021 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-44000 usd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
18000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
62000 usd
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1708000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-627000 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-303000 usd
CY2023 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
1692000 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-0 usd
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
639000 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-385000 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-373000 usd
CY2023 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
321000 usd
CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
444000 usd
CY2021 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-533000 usd
CY2023 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
1871000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
367000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
298000 usd
CY2023 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-55000 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
325000 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
207000 usd
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-183000 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
403000 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-106000 usd
CY2023 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-22000 usd
CY2022 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
147000 usd
CY2021 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
0 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4056000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2859000 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6744000 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
142000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
185000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
253000 usd
CY2023 us-gaap Payments For Software
PaymentsForSoftware
672000 usd
CY2022 us-gaap Payments For Software
PaymentsForSoftware
533000 usd
CY2021 us-gaap Payments For Software
PaymentsForSoftware
801000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-814000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-718000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1054000 usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
452000 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
378000 usd
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
270000 usd
CY2023 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 usd
CY2022 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 usd
CY2021 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1191000 usd
CY2023 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
60000000 usd
CY2022 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
60000000 usd
CY2021 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
57000000 usd
CY2023 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
60000000 usd
CY2022 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
60000000 usd
CY2021 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
57000000 usd
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4935000 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1342000 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
9296000 usd
CY2023 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
17000 usd
CY2022 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
45000 usd
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1147000 usd
CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
-0 usd
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
485000 usd
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
72000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4466000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
434000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8998000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-404000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3143000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1200000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19605000 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22748000 usd
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21548000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19201000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19605000 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22748000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
86000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
77000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
277000 usd
CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
16000 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
73000 usd
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
24000 usd
CY2023 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
650000 usd
CY2022 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
690000 usd
CY2021 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
670000 usd
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
13823000 usd
CY2021 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition
-24000 usd
CY2021 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
8100000 usd
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1739000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-11151000 usd
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
12487000 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition
-222000 usd
CY2022 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1034000 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2526000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-6616000 usd
CY2023Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
865000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
9209000 usd
CY2023 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition
253000 usd
CY2023 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4665000 usd
CY2023 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2035000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-4267000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
11895000 usd
CY2023Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
300000 usd
CY2023 quik Revenue From Contract With Customer Valuation Allowances And Reserves Sales Return
RevenueFromContractWithCustomerValuationAllowancesAndReservesSalesReturn
1000 usd
CY2022 quik Revenue From Contract With Customer Valuation Allowances And Reserves Sales Return
RevenueFromContractWithCustomerValuationAllowancesAndReservesSalesReturn
13000 usd
CY2021 quik Revenue From Contract With Customer Valuation Allowances And Reserves Sales Return
RevenueFromContractWithCustomerValuationAllowancesAndReservesSalesReturn
30000 usd
CY2023 quik Operating Expenses Denominated In Foreign Currency Percent
OperatingExpensesDenominatedInForeignCurrencyPercent
0.12 pure
CY2022 quik Operating Expenses Denominated In Foreign Currency Percent
OperatingExpensesDenominatedInForeignCurrencyPercent
0.21 pure
CY2021 quik Operating Expenses Denominated In Foreign Currency Percent
OperatingExpensesDenominatedInForeignCurrencyPercent
0.18 pure
CY2023 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
27000 usd
CY2022 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
5000 usd
CY2022Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
740000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
18000 usd
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
62000 usd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
18000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
62000 usd
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div><div style="text-indent:45pt"><div style="font-size:10pt"><div style="font-family:&quot;Times New Roman&quot;, Times, serif"><p style="text-indent: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt;"><i>Concentrations of Credit and Suppliers</i></p> </div> </div> </div> </div> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:47.05pt;"> </p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:47.05pt;">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and cash equivalents and accounts receivable. Cash and cash equivalents are maintained with high quality institutions. The Company’s accounts receivables are denominated in U.S. dollars and are derived primarily from sales to customers located in North America, Europe and Asia Pacific. The Company performs ongoing credit evaluations of its customers and generally does <em style="font: inherit;">not</em> require c<span style="background-color:#ffffff;">ollateral. See Note <em style="font: inherit;">13</em> for information regarding concentrations assoc</span>iated with accounts receivable.</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;"> </p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:47.05pt;">The Company depends on a limited number of contract manufacturers, subcontractors, and suppliers for wafer fabrication, assembly, programming and test of its hardware products, and for the supply of programming equipment, and these services are typically provided by one supplier for each of the Company’s hardware products. The Company generally purchases these single or limited source services through standard purchase orders. Because the Company relies on independent subcontractors to perform these services, it cannot directly control its product delivery schedules, costs or quality levels. The Company’s future success also depends on the financial viability of its independent subcontractors.</p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:47.05pt;"> </p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:47.05pt;">The Company’s accounts receivables are denominated in U.S. dollars and are derived primarily from sales to customers located in North America, Asia Pacific, and Europe. The Company performs ongoing credit evaluations of its customers and generally does <em style="font: inherit;">not</em> require collateral. See Note <em style="font: inherit;">13</em> for additional information.</p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:47.05pt;"> </p>
CY2023 quik Number Of Suppliers
NumberOfSuppliers
1 pure
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
800000
CY2023Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
2707000 usd
CY2022Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
1113000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
18000 usd
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
62000 usd
CY2023Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
2689000 usd
CY2022Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
1051000 usd
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1826000 usd
CY2022Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1397000 usd
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
667000 usd
CY2022Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
681000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
2493000 usd
CY2022Q1 us-gaap Inventory Net
InventoryNet
2078000 usd
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1305000 usd
CY2022Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
921000 usd
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
265000 usd
CY2022Q1 us-gaap Other Assets Current
OtherAssetsCurrent
260000 usd
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1570000 usd
CY2022Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1181000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12467000 usd
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12717000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
12002000 usd
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
12218000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
465000 usd
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
499000 usd
CY2023Q1 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
2370000 usd
CY2022Q1 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
1699000 usd
CY2023Q1 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
856000 usd
CY2022Q1 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
458000 usd
CY2023Q1 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
1514000 usd
CY2022Q1 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
1241000 usd
CY2023Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
40000 usd
CY2022Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
111000 usd
CY2023Q1 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
57000 usd
CY2022Q1 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
102000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
547000 usd
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
712000 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1509000 usd
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1665000 usd
CY2023 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
700000 usd
CY2022 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
600000 usd
CY2021 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
800000 usd
CY2023 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
0 usd
CY2023 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
400000 usd
CY2022 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
500000 usd
CY2021 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
100000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
107000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
107000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
107000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
107000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
107000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
110000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
645000 usd
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
400000 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
400000 usd
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
500000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
409000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
402000 usd
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
11000 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
23000 usd
CY2023 quik Operating Lease Cost Net
OperatingLeaseCostNet
420000 usd
CY2022 quik Operating Lease Cost Net
OperatingLeaseCostNet
425000 usd
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
437000 usd
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
700000 usd
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
23000 usd
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
69000 usd
CY2023 quik Finance Lease Cost
FinanceLeaseCost
460000 usd
CY2022 quik Finance Lease Cost
FinanceLeaseCost
769000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
409000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
402000 usd
CY2023 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
23000 usd
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
69000 usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
452000 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
378000 usd
CY2023 quik Operating And Financing Cash Flows From Leases
OperatingAndFinancingCashFlowsFromLeases
650000 usd
CY2022 quik Operating And Financing Cash Flows From Leases
OperatingAndFinancingCashFlowsFromLeases
1311000 usd
CY2023Q1 quik Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
1397000 usd
CY2022Q1 quik Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
1529000 usd
CY2023Q1 quik Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
1394000 usd
CY2022Q1 quik Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
1563000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
421000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
491000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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0 usd
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CY2023Q1 us-gaap Deferred Tax Liabilities Leasing Arrangements
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328000 usd
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400000 usd
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CY2023Q1 us-gaap Deferred Income Tax Liabilities
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100000 usd
CY2023Q1 us-gaap Deferred Tax Liability Not Recognized Amount Of Unrecognized Deferred Tax Liability Undistributed Earnings Of Foreign Subsidiaries
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100000 usd
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CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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178000 usd
CY2021 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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93000 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits
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2249000 usd
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2118000 usd
CY2021Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2176000 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2200000 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2023Q1 us-gaap Common Stock Shares Authorized
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200000000
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2526000 usd
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1739000 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
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2035000 usd
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2526000 usd
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1739000 usd
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
186000
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
32.09
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
65000
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
38.83
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
121000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
28.46
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
28000
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
31.68
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
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
18000
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
39.72
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
75000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
24.50
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y9M18D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2022Q4 us-gaap Share Price
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
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0
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6M
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6M
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6M
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0005 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.57 pure
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0.74 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.82 pure
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16180000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12685000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8634000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16180000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12685000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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8634000 usd
CY2022Q1 us-gaap Valuation Allowances And Reserves Balance
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60415000 usd
CY2023 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
18000 usd
CY2023 us-gaap Valuation Allowances And Reserves Deductions
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3553000 usd
CY2023Q1 us-gaap Valuation Allowances And Reserves Balance
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56880000 usd
CY2021Q1 us-gaap Valuation Allowances And Reserves Balance
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60518000 usd
CY2022 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
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30000 usd
CY2022 us-gaap Valuation Allowances And Reserves Deductions
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133000 usd
CY2022Q1 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
60415000 usd
CY2019Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
60353000 usd
CY2021 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
32000 usd
CY2021 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
-133000 usd
CY2021Q1 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
60518000 usd

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