2023 Q2 Form 10-Q Financial Statement

#000143774923014950 Filed on May 17, 2023

View on sec.gov

Income Statement

Concept 2023 Q2
Revenue $4.133M
YoY Change 0.9%
Cost Of Revenue $1.743M
YoY Change 6.61%
Gross Profit $2.390M
YoY Change -2.89%
Gross Profit Margin 57.83%
Selling, General & Admin $1.861M
YoY Change -12.92%
% of Gross Profit 77.87%
Research & Development $1.629M
YoY Change 22.21%
% of Gross Profit 68.16%
Depreciation & Amortization $197.0K
YoY Change 21.6%
% of Gross Profit 8.24%
Operating Expenses $3.490M
YoY Change 0.58%
Operating Profit -$1.100M
YoY Change 9.02%
Interest Expense $58.00K
YoY Change 75.76%
% of Operating Profit
Other Income/Expense, Net -$63.00K
YoY Change -48.78%
Pretax Income -$1.221M
YoY Change 4.81%
Income Tax $7.000K
% Of Pretax Income
Net Earnings -$1.228M
YoY Change 5.5%
Net Earnings / Revenue -29.71%
Basic Earnings Per Share -$0.09
Diluted Earnings Per Share -$0.09
COMMON SHARES
Basic Shares Outstanding 13.22M
Diluted Shares Outstanding 13.22M

Balance Sheet

Concept 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.90M
YoY Change 3.78%
Cash & Equivalents $20.90M
Short-Term Investments
Other Short-Term Assets $217.0K
YoY Change 6.9%
Inventory $2.497M
Prepaid Expenses $1.847M
Receivables $4.418M
Other Receivables $0.00
Total Short-Term Assets $29.88M
YoY Change 18.9%
LONG-TERM ASSETS
Property, Plant & Equipment $442.0K
YoY Change -11.42%
Goodwill $185.0K
YoY Change 0.0%
Intangibles $618.0K
YoY Change -14.76%
Long-Term Investments $300.0K
YoY Change 0.0%
Other Assets $142.0K
YoY Change -53.59%
Total Long-Term Assets $4.855M
YoY Change 4.59%
TOTAL ASSETS
Total Short-Term Assets $29.88M
Total Long-Term Assets $4.855M
Total Assets $34.74M
YoY Change 16.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.265M
YoY Change 70.05%
Accrued Expenses $1.706M
YoY Change -13.09%
Deferred Revenue $299.0K
YoY Change 346.27%
Short-Term Debt $15.00M
YoY Change 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $20.28M
YoY Change 6.02%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $190.0K
YoY Change 52.0%
Total Long-Term Liabilities $190.0K
YoY Change 52.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.28M
Total Long-Term Liabilities $190.0K
Total Liabilities $21.06M
YoY Change 6.03%
SHAREHOLDERS EQUITY
Retained Earnings -$306.5M
YoY Change 1.43%
Common Stock $14.00K
YoY Change 16.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.68M
YoY Change
Total Liabilities & Shareholders Equity $34.74M
YoY Change 16.67%

Cashflow Statement

Concept 2023 Q2
OPERATING ACTIVITIES
Net Income -$1.228M
YoY Change 5.5%
Depreciation, Depletion And Amortization $197.0K
YoY Change 21.6%
Cash From Operating Activities -$262.0K
YoY Change -62.57%
INVESTING ACTIVITIES
Capital Expenditures $3.000K
YoY Change -70.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$188.0K
YoY Change 26.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.300M
YoY Change 55.2%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $2.151M
YoY Change 55.42%
NET CHANGE
Cash From Operating Activities -$262.0K
Cash From Investing Activities -$188.0K
Cash From Financing Activities $2.151M
Net Change In Cash $1.701M
YoY Change 217.94%
FREE CASH FLOW
Cash From Operating Activities -$262.0K
Capital Expenditures $3.000K
Free Cash Flow -$265.0K
YoY Change -62.68%

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CY2022Q2 us-gaap Stock Issued During Period Value New Issues
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CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
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383000 usd
CY2022Q2 us-gaap Net Income Loss
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-1164000 usd
CY2022Q2 us-gaap Stockholders Equity
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9910000 usd
CY2023Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2300000 usd
CY2023Q2 us-gaap Accounts Receivable Gross Current
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2098000 usd
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2707000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
8000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
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18000 usd
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2090000 usd
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2689000 usd
CY2023Q2 us-gaap Inventory Work In Process Net Of Reserves
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1858000 usd
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
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1826000 usd
CY2023Q2 us-gaap Inventory Finished Goods Net Of Reserves
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639000 usd
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
667000 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
2497000 usd
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2493000 usd
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1847000 usd
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1305000 usd
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217000 usd
CY2023Q1 us-gaap Other Assets Current
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265000 usd
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2064000 usd
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
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1570000 usd
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12494000 usd
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12467000 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
12052000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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12002000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
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442000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
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465000 usd
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2555000 usd
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CapitalizedComputerSoftwareGross
2370000 usd
CY2023Q2 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
979000 usd
CY2023Q1 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
856000 usd
CY2023Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
1576000 usd
CY2023Q1 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
1514000 usd
CY2023Q2 us-gaap Accrued Salaries Current
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981000 usd
CY2023Q1 us-gaap Accrued Salaries Current
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865000 usd
CY2023Q2 us-gaap Accrued Employee Benefits Current
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114000 usd
CY2023Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
40000 usd
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54000 usd
CY2023Q1 us-gaap Accrued Payroll Taxes Current
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57000 usd
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557000 usd
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547000 usd
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1706000 usd
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OperatingLeaseExpense
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104000 usd
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FinanceLeaseRightOfUseAssetAmortization
160000 usd
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FinanceLeaseRightOfUseAssetAmortization
109000 usd
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FinanceLeaseInterestExpense
22000 usd
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FinanceLeaseInterestExpense
7000 usd
CY2023Q2 quik Finance Lease Cost
FinanceLeaseCost
182000 usd
CY2022Q2 quik Finance Lease Cost
FinanceLeaseCost
116000 usd
CY2023Q2 quik Right Of Use Asset Obtained In Exchange For Finance And Operating Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceAndOperatingLeaseLiability
445000 usd
CY2022Q2 quik Right Of Use Asset Obtained In Exchange For Finance And Operating Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceAndOperatingLeaseLiability
0 usd
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
103000 usd
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
100000 usd
CY2023Q2 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
22000 usd
CY2022Q2 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
7000 usd
CY2023Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
142000 usd
CY2022Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
98000 usd
CY2023Q2 quik Operating And Financing Cash Flows From Leases
OperatingAndFinancingCashFlowsFromLeases
267000 usd
CY2022Q2 quik Operating And Financing Cash Flows From Leases
OperatingAndFinancingCashFlowsFromLeases
205000 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
155000 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
193000 usd
CY2023Q2 quik Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
1592000 usd
CY2023Q1 quik Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
1397000 usd
CY2023Q2 quik Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
1601000 usd
CY2023Q1 quik Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
1394000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
319000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
494000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
106000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
624000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
0 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
169000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
425000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1287000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
14000 usd
CY2023Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
97000 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y3M
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M14D
CY2023Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y10M28D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600 pure
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600 pure
CY2023Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
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0.0667 pure
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FinanceLeaseWeightedAverageDiscountRatePercent
0.0595 pure
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
715000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
383000 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
18000 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
9000
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
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y9M18D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
75000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
24.50
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y6M18D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1000 usd
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0.006 pure
CY2021Q1 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0.001 pure
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4133000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4096000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4133000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4096000 usd

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