$QXO
QXO, Inc.

2023 Q4 Form 10-Q Financial Statement

#000118518523001183 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $14.71M $13.42M
YoY Change 18.56% 22.96%
Cost Of Revenue $8.988M $8.073M
YoY Change 15.97% 24.42%
Gross Profit $5.721M $5.350M
YoY Change 22.87% 20.81%
Gross Profit Margin 38.89% 39.86%
Selling, General & Admin $5.080M $4.726M
YoY Change 10.08% 10.91%
% of Gross Profit 88.79% 88.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $260.4K $75.31K
YoY Change 1.0% -22.13%
% of Gross Profit 4.55% 1.41%
Operating Expenses $5.300M $4.923M
YoY Change 9.85% 8.28%
Operating Profit $421.0K $427.5K
YoY Change -349.39% -463.45%
Interest Expense -$13.34K $7.647K
YoY Change -41.18% -67.72%
% of Operating Profit -3.17% 1.79%
Other Income/Expense, Net $0.00 -$2.994M
YoY Change 12538.27%
Pretax Income $407.7K -$2.566M
YoY Change -312.89% 1716.23%
Income Tax -$11.57K -$456.1K
% Of Pretax Income -2.84%
Net Earnings $419.2K -$2.110M
YoY Change -2243.3% 1471.98%
Net Earnings / Revenue 2.85% -15.72%
Basic Earnings Per Share -$0.40
Diluted Earnings Per Share $0.08 -$0.40
COMMON SHARES
Basic Shares Outstanding 5.256M shares 5.256M shares
Diluted Shares Outstanding 5.256M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.143M $6.880M
YoY Change -23.29% -4.87%
Cash & Equivalents $6.143M $6.880M
Short-Term Investments
Other Short-Term Assets $2.490M $1.120M
YoY Change -19.44% -47.67%
Inventory
Prepaid Expenses
Receivables $2.969M $2.695M
Other Receivables $0.00 $0.00
Total Short-Term Assets $11.80M $11.04M
YoY Change -13.89% -8.11%
LONG-TERM ASSETS
Property, Plant & Equipment $503.3K $532.8K
YoY Change -29.24% -33.93%
Goodwill $1.140M $1.140M
YoY Change 0.0% 12.65%
Intangibles $4.919M $3.779M
YoY Change 15.32% -17.04%
Long-Term Investments
YoY Change
Other Assets $171.4K $180.6K
YoY Change -8.59% -3.69%
Total Long-Term Assets $8.699M $7.349M
YoY Change 12.41% -7.76%
TOTAL ASSETS
Total Short-Term Assets $11.80M $11.04M
Total Long-Term Assets $8.699M $7.349M
Total Assets $20.50M $18.39M
YoY Change -4.4% -7.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.563M $3.502M
YoY Change 39.44% 37.54%
Accrued Expenses $2.655M $2.830M
YoY Change 9.13% 33.11%
Deferred Revenue $3.161M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due $701.7K $413.9K
YoY Change 3.18% -34.94%
Total Short-Term Liabilities $11.52M $10.55M
YoY Change 7.16% 16.18%
LONG-TERM LIABILITIES
Long-Term Debt $994.3K $381.3K
YoY Change 48.17% -52.04%
Other Long-Term Liabilities $259.1K $130.0K
YoY Change 330.31% 8.34%
Total Long-Term Liabilities $994.3K $381.3K
YoY Change 48.17% -52.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.52M $10.55M
Total Long-Term Liabilities $994.3K $381.3K
Total Liabilities $13.02M $11.33M
YoY Change 9.57% 8.44%
SHAREHOLDERS EQUITY
Retained Earnings -$1.947M -$2.366M
YoY Change 122.07% 176.06%
Common Stock $53.00 $53.00
YoY Change 0.0% 1.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.473M $7.053M
YoY Change
Total Liabilities & Shareholders Equity $20.50M $18.39M
YoY Change -4.4% -7.97%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $419.2K -$2.110M
YoY Change -2243.3% 1471.98%
Depreciation, Depletion And Amortization $260.4K $75.31K
YoY Change 1.0% -22.13%
Cash From Operating Activities -$236.2K $1.140M
YoY Change -125.92% -29.31%
INVESTING ACTIVITIES
Capital Expenditures $50.93K $50.00K
YoY Change -710.5%
Acquisitions
YoY Change
Other Investing Activities -$278.5K
YoY Change
Cash From Investing Activities -$329.4K -$50.00K
YoY Change 510.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -179.7K -1.340M
YoY Change 33.51% 444.87%
NET CHANGE
Cash From Operating Activities -236.2K 1.140M
Cash From Investing Activities -329.4K -50.00K
Cash From Financing Activities -179.7K -1.340M
Net Change In Cash -745.3K -250.0K
YoY Change -195.99% -118.4%
FREE CASH FLOW
Cash From Operating Activities -$236.2K $1.140M
Capital Expenditures $50.93K $50.00K
Free Cash Flow -$287.1K $1.090M
YoY Change -131.51% -32.75%

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SILVERSUN TECHNOLOGIES, INC.
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us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
273476 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
545233 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-55099 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
120000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
41497 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
136075 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
406910 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
446077 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-18920 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
102067 usd
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
-1511895 usd
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
825000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-463615 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-239633 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-6922 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-3252 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
229386 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
508086 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
397626 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
383214 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
0 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-69614 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
561 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-5405 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-404852 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
581028 usd
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
273476 usd
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
545233 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
817723 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1127302 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
74907 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
38741 usd
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
0 usd
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
150000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-74907 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-188741 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
1051256 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
0 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
659284 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
344309 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
161389 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
176211 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1871929 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-520520 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1129113 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
418041 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8008633 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6814117 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6879520 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7232158 usd
us-gaap Interest Paid Net
InterestPaidNet
57209 usd
us-gaap Interest Paid Net
InterestPaidNet
71835 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
23479 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
15820 usd
CY2022Q1 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
73672 usd
CY2022Q2 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
494383 usd
CY2022Q3 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
120000 shares
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><span style="text-decoration:underline">Use of Estimates </span></p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</p>
CY2023Q3 us-gaap Revenues
Revenues
13423254 usd
CY2022Q3 us-gaap Revenues
Revenues
10917159 usd
us-gaap Revenues
Revenues
39808263 usd
us-gaap Revenues
Revenues
32579076 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5256177 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5136177 shares
CY2023Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.4
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
2986107 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><span style="text-decoration:underline">Concentrations</span></p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The Company maintains its cash with various institutions, which exceed federally insured limits throughout the year. At September 30, 2023 and December 31, 2022, the Company had cash on deposit of $5,709,344 and $7,050,862, respectively, in excess of the federally insured limits of $250,000.</p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">As of September 30, 2023, no one customer represented more than 10% of the total accounts receivable and unbilled services. As of December 31, 2022, no one customer represented more than 10% of the total accounts receivable and unbilled services.</p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">For the nine months ended September 30, 2023 and 2022, the Company’s top ten customers accounted for 9% ($3,506,819) and 8% ($2,449,875), respectively, of total revenues. The Company does not rely on any one specific customer for any significant portion of its revenue.</p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">For the nine months ended September 30, 2023 and 2022 purchases from one supplier through a “channel partner” agreement were approximately 14% and 14% of cost of revenues, respectively. The channel partner agreements are for a one-year term and automatically renew for an additional one-year term on the anniversary of the agreement’s effective date.</p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">As of September 30, 2023, a legal firm represented approximately 54% of total accounts payable and one supplier represented approximately 11% of total accounts payable. For the year ended December 31, 2022, one supplier represented approximately 28% of total accounts payable.</p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of accounts receivable and cash. As of September 30, 2023, the Company believes it has no significant risk related to its concentration of credit risk related to accounts receivable.</p><p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2023Q3 us-gaap Cash Uninsured Amount
CashUninsuredAmount
5709344 usd
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
7050862 usd
CY2023Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.03
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2110178 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-134237 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
170178 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
95099 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2110178 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-134237 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5256177 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5136177 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5256177 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5136177 shares
CY2023Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.4
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.03
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1489326 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-262659 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5256177 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5136177 shares
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.28
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.05
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1489326 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-262659 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5256177 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5136177 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5256177 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5136177 shares
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.28
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.05
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
158420 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
158420 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
158420 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
158420 shares
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
490311 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
330311 usd
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
40000 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
10178 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
435212 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
490311 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4062183 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3987276 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3529342 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3275962 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
532841 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
711314 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
75310 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
253380 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
96713 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
291720 usd
CY2022Q1 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
1335000 usd
CY2021Q4 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
500000 usd
CY2022Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
835000 usd
CY2022Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0325 pure
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
8133365 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
8133365 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4353895 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3868012 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3779470 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4265353 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
161961 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
485883 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
193042 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
569864 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
161961 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
647844 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
644367 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
633165 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
619516 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
1072617 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3779470 usd
CY2023Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
795209 usd
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
1454493 usd
CY2023Q3 us-gaap Debt Current
DebtCurrent
413861 usd
CY2022Q4 us-gaap Debt Current
DebtCurrent
783479 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
124194 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
360091 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
258736 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
52188 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
795209 usd
CY2023Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.072 pure
CY2023Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y7D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y5M8D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2023Q3 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2023-08-04
CY2023Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.2
CY2023Q3 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2023-08-18
CY2019Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
2000000 shares
CY2021Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
5000000 shares
CY2023Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
61452 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
176686 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
115080 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
115080 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
47950 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
516248 usd
CY2023Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
61194 usd
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
455054 usd
CY2023Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
183669 usd
CY2023Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
271385 usd
ssnt Number Of Locations Of Office Space Leases
NumberOfLocationsOfOfficeSpaceLeases
4 pure
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0477 pure
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M19D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y2M8D
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
94308 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
197163 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
72058 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
30786 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
394315 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
19588 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
374727 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
244288 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
130439 usd
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
106790 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
319870 usd
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
85706 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
297919 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
165620 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.256
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
7200 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
6.53
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
158420 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
158420 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.245
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
41497 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
44185 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
136075 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
0 usd
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
41497 usd
CY2023Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
5700000 usd
CY2023Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1342000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1106000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-456121 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-285849 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-7061 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-20253 usd
CY2023Q3 us-gaap Notes Payable
NotesPayable
0 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
103333 usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001236275

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ssnt-20230930_cal.xml Edgar Link unprocessable
0001185185-23-001183-index-headers.html Edgar Link pending
0001185185-23-001183-index.html Edgar Link pending
0001185185-23-001183.txt Edgar Link pending
0001185185-23-001183-xbrl.zip Edgar Link pending
ex_594070.htm Edgar Link pending
ex_594071.htm Edgar Link pending
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ex_594073.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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report.css Edgar Link pending
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silversun20230930_10q.htm Edgar Link pending
ssnt-20230930.xsd Edgar Link pending
ssnt-20230930_def.xml Edgar Link unprocessable
ssnt-20230930_pre.xml Edgar Link unprocessable
ssnt-20230930_lab.xml Edgar Link unprocessable
silversun20230930_10q_htm.xml Edgar Link completed