2024 Q4 Form 10-Q Financial Statement

#000165495424014461 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $23.58M $15.65M
YoY Change 50.67% 30.9%
Cost Of Revenue $17.00M $12.07M
YoY Change 40.83% 22.28%
Gross Profit $6.578M $3.577M
YoY Change 83.9% 71.81%
Gross Profit Margin 27.89% 22.85%
Selling, General & Admin $2.730M $2.075M
YoY Change 31.57% -0.14%
% of Gross Profit 41.5% 58.01%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $702.0K $620.0K
YoY Change 13.23% -14.72%
% of Gross Profit 10.67% 17.33%
Operating Expenses $2.730M $2.075M
YoY Change 31.57% -0.14%
Operating Profit $3.848M $1.502M
YoY Change 156.19% 37450.0%
Interest Expense $56.00K $64.00K
YoY Change -12.5% -7.25%
% of Operating Profit 1.46% 4.26%
Other Income/Expense, Net -$4.000K $11.00K
YoY Change -136.36% -200.0%
Pretax Income $3.844M $1.513M
YoY Change 154.06% -21714.29%
Income Tax $694.0K $247.0K
% Of Pretax Income 18.05% 16.33%
Net Earnings $3.150M $1.266M
YoY Change 148.82% 25220.0%
Net Earnings / Revenue 13.36% 8.09%
Basic Earnings Per Share $0.59 $0.24
Diluted Earnings Per Share $0.59 $0.24
COMMON SHARES
Basic Shares Outstanding 5.305M shares 5.346M shares 5.256M shares
Diluted Shares Outstanding 5.304M shares 5.298M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.013M $5.850M
YoY Change 54.07% -45.87%
Cash & Equivalents $9.013M $5.849M
Short-Term Investments
Other Short-Term Assets $979.0K $1.270M
YoY Change -22.91% 104.18%
Inventory $6.242M $4.210M
Prepaid Expenses $979.0K $1.274M
Receivables $17.82M $16.84M
Other Receivables $23.00K $470.0K
Total Short-Term Assets $34.99M $29.89M
YoY Change 17.06% 2.93%
LONG-TERM ASSETS
Property, Plant & Equipment $31.19M $27.41M
YoY Change 13.78% 13.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $444.0K $350.0K
YoY Change 26.86% 43.44%
Total Long-Term Assets $31.63M $27.76M
YoY Change 13.95% 10.01%
TOTAL ASSETS
Total Short-Term Assets $34.99M $29.89M
Total Long-Term Assets $31.63M $27.76M
Total Assets $66.63M $57.65M
YoY Change 15.56% 6.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.427M $5.476M
YoY Change -0.89% 19.64%
Accrued Expenses $852.0K $2.000M
YoY Change -57.4% 368.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $651.0K $630.0K
YoY Change 3.33% 1.78%
Total Short-Term Liabilities $12.61M $12.93M
YoY Change -2.45% 19.04%
LONG-TERM LIABILITIES
Long-Term Debt $4.630M $5.260M
YoY Change -11.98% -11.57%
Other Long-Term Liabilities $7.401M $3.570M
YoY Change 107.31% 37.63%
Total Long-Term Liabilities $12.03M $8.830M
YoY Change 36.25% 3.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.61M $12.93M
Total Long-Term Liabilities $12.03M $8.830M
Total Liabilities $26.29M $23.84M
YoY Change 10.29% 11.63%
SHAREHOLDERS EQUITY
Retained Earnings $32.67M $26.17M
YoY Change 24.87% 1.97%
Common Stock $54.00K $54.00K
YoY Change 0.0% 1.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $40.34M $33.82M
YoY Change
Total Liabilities & Shareholders Equity $66.63M $57.65M
YoY Change 15.56% 6.22%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income $3.150M $1.266M
YoY Change 148.82% 25220.0%
Depreciation, Depletion And Amortization $702.0K $620.0K
YoY Change 13.23% -14.72%
Cash From Operating Activities $3.873M $2.380M
YoY Change 62.73% -467.28%
INVESTING ACTIVITIES
Capital Expenditures $2.039M $1.160M
YoY Change 75.78% -165.28%
Acquisitions
YoY Change
Other Investing Activities $22.00K $50.00K
YoY Change -56.0% -94.79%
Cash From Investing Activities -$2.017M -$1.100M
YoY Change 83.36% 34.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -131.0K -150.0K
YoY Change -12.67% -0.66%
NET CHANGE
Cash From Operating Activities 3.873M 2.380M
Cash From Investing Activities -2.017M -1.100M
Cash From Financing Activities -131.0K -150.0K
Net Change In Cash 1.725M 1.130M
YoY Change 52.65% -169.88%
FREE CASH FLOW
Cash From Operating Activities $3.873M $2.380M
Capital Expenditures $2.039M $1.160M
Free Cash Flow $1.834M $1.220M
YoY Change 50.33% 8.06%

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RevenueFromBarrierRentals
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RevenueFromBarrierRentals
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CY2024Q3 smid Revenue From Royalty Income
RevenueFromRoyaltyIncome
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CY2023Q3 smid Revenue From Royalty Income
RevenueFromRoyaltyIncome
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smid Revenue From Royalty Income
RevenueFromRoyaltyIncome
2403000 usd
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RevenueFromRoyaltyIncome
1827000 usd
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RevenueFromShippingAndInstallationRevenue
4818000 usd
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RevenueFromShippingAndInstallationRevenue
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smid Revenue From Shipping And Installation Revenue
RevenueFromShippingAndInstallationRevenue
13650000 usd
smid Revenue From Shipping And Installation Revenue
RevenueFromShippingAndInstallationRevenue
8918000 usd
CY2024Q3 us-gaap Revenues
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23582000 usd
CY2023Q3 us-gaap Revenues
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15651000 usd
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43191000 usd
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CostOfGoodsAndServicesSold
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CostOfGoodsAndServicesSold
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us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
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CY2024Q3 us-gaap Gross Profit
GrossProfit
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CY2023Q3 us-gaap Gross Profit
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us-gaap Gross Profit
GrossProfit
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us-gaap Gross Profit
GrossProfit
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CY2024Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1720000 usd
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1187000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4938000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4420000 usd
CY2024Q3 us-gaap Selling Expense
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1010000 usd
CY2023Q3 us-gaap Selling Expense
SellingExpense
888000 usd
us-gaap Selling Expense
SellingExpense
2655000 usd
us-gaap Selling Expense
SellingExpense
2533000 usd
CY2024Q3 us-gaap Operating Expenses
OperatingExpenses
2730000 usd
CY2023Q3 us-gaap Operating Expenses
OperatingExpenses
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OperatingExpenses
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OperatingExpenses
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CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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OperatingIncomeLoss
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InterestExpense
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InterestExpense
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InterestExpense
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us-gaap Interest Expense
InterestExpense
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InterestIncomeDomesticDeposits
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InterestIncomeDomesticDeposits
6000 usd
us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
36000 usd
us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
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CY2024Q3 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
16000 usd
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GainsLossesOnSalesOfAssets
53000 usd
us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
19000 usd
us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
252000 usd
CY2024Q3 us-gaap Other Income
OtherIncome
14000 usd
CY2023Q3 us-gaap Other Income
OtherIncome
16000 usd
us-gaap Other Income
OtherIncome
50000 usd
us-gaap Other Income
OtherIncome
72000 usd
CY2024Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-4000 usd
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
11000 usd
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OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
149000 usd
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3844000 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1513000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
7961000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
725000 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
694000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
247000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1683000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
160000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
3150000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
1266000 usd
us-gaap Net Income Loss
NetIncomeLoss
6278000 usd
us-gaap Net Income Loss
NetIncomeLoss
565000 usd
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.59
CY2023Q3 us-gaap Earnings Per Share Basic
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0.24
us-gaap Earnings Per Share Basic
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1.18
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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5304000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5256000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5283000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5256000 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5304000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5298000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5283000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5293000 shares
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
34161000 usd
CY2024Q1 smid Vesting Of Restricted Stock Amount
VestingOfRestrictedStockAmount
5000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
1147000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
35313000 usd
CY2024Q2 smid Vesting Of Restricted Stock Amount
VestingOfRestrictedStockAmount
5000 usd
CY2024Q2 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
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CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
1981000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
37182000 usd
CY2024Q3 smid Stock Granted Amount
StockGrantedAmount
0 usd
CY2024Q3 smid Vesting Of Restricted Stock Amount
VestingOfRestrictedStockAmount
5000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
3150000 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
40337000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
33055000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
85000 usd
CY2023Q1 smid Adoption Of Asu Amount
AdoptionOfASUAmount
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CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
80000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
33157000 usd
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
86000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
32461000 usd
CY2023Q3 smid Restricted Stock Issued Amount
RestrictedStockIssuedAmount
0 usd
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
91000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
1266000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
33818000 usd
us-gaap Profit Loss
ProfitLoss
-6278000 usd
us-gaap Profit Loss
ProfitLoss
-565000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1996000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1795000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
19000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
252000 usd
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
271000 usd
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
-53000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
40000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
261000 usd
smid Restricted Stock Expenses
RestrictedStockExpenses
142000 usd
smid Restricted Stock Expenses
RestrictedStockExpenses
0 usd
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-1000 usd
us-gaap Deferred Income Taxes And Tax Credits
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0 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
884000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
630000 usd
us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
389000 usd
us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
254000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1092000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
390000 usd
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
-186000 usd
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
685000 usd
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
23000 usd
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-1000 usd
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-1909000 usd
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-340000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
21000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
383000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
3052000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
1288000 usd
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
178000 usd
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
-14000 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-473000 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
89000 usd
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-1287000 usd
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
1699000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5803000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3463000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5543000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4131000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
25000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
252000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5518000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3879000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
447000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
461000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-447000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-461000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-162000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-877000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9175000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6726000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9013000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5849000 usd
us-gaap Interest Paid Net
InterestPaidNet
175000 usd
us-gaap Interest Paid Net
InterestPaidNet
192000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1558000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
478000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2625000 usd
CY2024Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
927000 usd
CY2024Q3 us-gaap Customer Advances And Deposits
CustomerAdvancesAndDeposits
1492000 usd
smid Royalty Payments Percentage Minimum
RoyaltyPaymentsPercentageMinimum
0.04 pure
smid Royalty Payments Percentage Maximum
RoyaltyPaymentsPercentageMaximum
0.06 pure
CY2024Q3 us-gaap Revenues
Revenues
23582000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">Historically, various customers have comprised greater than 10% of revenue during a given quarter or year. These customers are typically not the same quarter to quarter or year to year. The Company views revenue details by jobs, and not by customers. In the event a customer were to go out of business during a project, it is likely that the owner of the project would assign a new contractor to the job, and the Company would complete its scope of work. Therefore, the Company believes that it does not have a short-term vulnerability of severe impact to operations. In cases where customers are less than 10% of revenue, the Company assesses if there is a near term severe impact. The Company has determined that no customer, if lost, would result in a near term severe impact to the Company’s operations.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">For the three months ended September 30, 2024, the Company derived 17% of its revenue from one customer. For the nine months ended September 30, 2024 no customer made up 10% of the revenue for the Company. For the three and nine months ended September 30, 2023, the Company derived 28% and 15%, respectively, of its revenue from two separate customers. As of September 30, 2024, one customer’s outstanding receivable balance each equaled 15% of the total outstanding receivable balance. As of December 31, 2023, two customers’ outstanding receivable balance each equaled 10% of the total outstanding receivable balance.</p>
CY2023 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1792000 usd
CY2023Q4 us-gaap Notes Payable
NotesPayable
2525000 usd
CY2023Q4 smid Varying Loan Balance Amount
VaryingLoanBalanceAmount
29000 usd
CY2024Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
5000 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
40000 usd
CY2023Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
90000 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
261000 usd

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