2024 Q4 Form 10-K Financial Statement

#000147793224008123 Filed on December 16, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q2 2024
Revenue $4.005M $26.00M
YoY Change -81.65% -67.77%
Cost Of Revenue $1.031M $13.18M
YoY Change -92.39% -72.04%
Gross Profit $2.974M $12.82M
YoY Change -64.04% -61.78%
Gross Profit Margin 74.25% 49.32%
Selling, General & Admin $2.499M $12.76M
YoY Change -49.97% -35.94%
% of Gross Profit 84.01% 99.51%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $220.6K $1.268M
YoY Change -32.88% 34.26%
% of Gross Profit 7.42% 9.89%
Operating Expenses $4.047M $35.29M
YoY Change -59.76% -14.17%
Operating Profit -$1.073M -$22.46M
YoY Change -39.95% 197.44%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$228.1K -$3.141M
YoY Change -78.82% -71.23%
Pretax Income -$1.301M -$25.60M
YoY Change -54.57% 38.61%
Income Tax $0.00 $332.1K
% Of Pretax Income
Net Earnings -$1.301M -$23.66M
YoY Change -46.62% 35.27%
Net Earnings / Revenue -32.49% -90.99%
Basic Earnings Per Share -$1.24 -$23.03
Diluted Earnings Per Share -$1.24 -$23.03
COMMON SHARES
Basic Shares Outstanding 1.041M shares 1.027M shares
Diluted Shares Outstanding 1.045M shares 1.027M shares

Balance Sheet

Concept 2024 Q4 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $661.4K
YoY Change -85.27%
Cash & Equivalents $406.3K $661.4K
Short-Term Investments $0.00
Other Short-Term Assets
YoY Change
Inventory $2.236M $1.432M
Prepaid Expenses
Receivables $1.162M $606.9K
Other Receivables
Total Short-Term Assets $6.110M $11.42M
YoY Change -72.94% -55.14%
LONG-TERM ASSETS
Property, Plant & Equipment $2.140M $2.357M
YoY Change -71.84% -68.69%
Goodwill $848.9K $848.9K
YoY Change -92.81% -91.72%
Intangibles $201.5K $239.9K
YoY Change -98.22% -98.23%
Long-Term Investments
YoY Change
Other Assets $199.9K $278.4K
YoY Change -54.76% 187.85%
Total Long-Term Assets $11.42M $12.09M
YoY Change -71.15% -68.51%
TOTAL ASSETS
Total Short-Term Assets $6.110M $11.42M
Total Long-Term Assets $11.42M $12.09M
Total Assets $17.53M $23.51M
YoY Change -71.8% -63.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.005M $481.6K
YoY Change -66.7% -87.87%
Accrued Expenses $222.1K $736.4K
YoY Change -91.64% -78.12%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.62M $12.66M
YoY Change -56.23% -35.45%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $3.149M $4.340M
YoY Change -74.69% -73.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.62M $12.66M
Total Long-Term Liabilities $3.149M $4.340M
Total Liabilities $13.77M $17.00M
YoY Change -62.49% -52.81%
SHAREHOLDERS EQUITY
Retained Earnings -$49.79M -$46.86M
YoY Change 84.43% 101.97%
Common Stock $20.91K $19.86K
YoY Change 2.94% -1.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.763M $6.516M
YoY Change
Total Liabilities & Shareholders Equity $17.53M $23.51M
YoY Change -71.8% -63.18%

Cashflow Statement

Concept 2024 Q4 2024 Q2 2024
OPERATING ACTIVITIES
Net Income -$1.301M -$23.66M
YoY Change -46.62% 35.27%
Depreciation, Depletion And Amortization $220.6K $1.268M
YoY Change -32.88% 34.26%
Cash From Operating Activities -$101.4K
YoY Change -150.02%
INVESTING ACTIVITIES
Capital Expenditures $932.6K
YoY Change -0.53%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.376M
YoY Change 31.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$353.8K
YoY Change 23.99%
NET CHANGE
Cash From Operating Activities -$101.4K
Cash From Investing Activities -$3.376M
Cash From Financing Activities -$353.8K
Net Change In Cash -$4.417M
YoY Change 88.58%
FREE CASH FLOW
Cash From Operating Activities -$101.4K
Capital Expenditures $932.6K
Free Cash Flow -$1.034M
YoY Change 40.69%

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CY2024Q2 us-gaap Accrued Liabilities For Commissions Expense And Taxes
AccruedLiabilitiesForCommissionsExpenseAndTaxes
0 usd
CY2023Q2 us-gaap Accrued Liabilities For Commissions Expense And Taxes
AccruedLiabilitiesForCommissionsExpenseAndTaxes
1360000 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
395368 usd
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
375870 usd
CY2024Q2 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
736407 usd
CY2023Q2 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
2439794 usd
CY2024Q2 us-gaap Acquisition Costs Cumulative
AcquisitionCostsCumulative
413152 usd
CY2023Q2 us-gaap Acquisition Costs Cumulative
AcquisitionCostsCumulative
152500 usd
CY2024 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
100000 usd
CY2022Q2 us-gaap Debt Instrument Increase Decrease For Period Net
DebtInstrumentIncreaseDecreaseForPeriodNet
1500000 usd
CY2022Q2 us-gaap Short Term Debt Interest Rate Increase
ShortTermDebtInterestRateIncrease
0.085 pure
CY2022Q2 upxi Additional Percentage Rate
AdditionalPercentageRate
0.035 pure
CY2023 upxi Common Stock For Prepayment Of Interest On Note Payable Shares
CommonStockForPrepaymentOfInterestOnNotePayableShares
6700 shares
CY2023 upxi Common Stock For Prepayment Of Interest On Note Payable Value
CommonStockForPrepaymentOfInterestOnNotePayableValue
607020 usd
CY2024Q1 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
25081 shares
CY2024Q1 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
500000 usd
CY2024Q1 upxi Common Stock Per Share Price
CommonStockPerSharePrice
19.94
CY2024Q1 us-gaap Stock Issued During Period Shares Employee Benefit Plan
StockIssuedDuringPeriodSharesEmployeeBenefitPlan
5000 shares
CY2024Q1 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
85000 usd
CY2024Q1 upxi Common Stocks Par Or Stated Value Per Share
CommonStocksParOrStatedValuePerShare
17
CY2024Q4 upxi Reverse Stock Split Rate
ReverseStockSplitRate
20 to 1
CY2024Q4 upxi Total Issued And Outstanding Common Stock Shares Post Reverse Split
TotalIssuedAndOutstandingCommonStockSharesPostReverseSplit
1040886 shares
CY2024 upxi Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Term
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedTerm
P5Y
CY2023 upxi Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Term
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedTerm
P6Y6M
CY2024 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
12700 usd
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
349260 usd
CY2024 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
-344801 usd
CY2023 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
-3601298 usd
CY2024 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-332101 usd
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-3049293 usd
CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation Deductions Medicare Prescription Drug Benefit
EffectiveIncomeTaxRateReconciliationDeductionsMedicarePrescriptionDrugBenefit
0.0027 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Deductions Medicare Prescription Drug Benefit
EffectiveIncomeTaxRateReconciliationDeductionsMedicarePrescriptionDrugBenefit
0.0504 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.0005 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.0024 pure
CY2024 upxi Tax Return To Provision
TaxReturnToProvision
0.0000 pure
CY2023 upxi Tax Return To Provision
TaxReturnToProvision
-0.0267 pure
CY2023 srt Mortgage Loans On Real Estate Interest Rate
MortgageLoansOnRealEstateInterestRate
0.0181 pure
CY2024 upxi Other Net
OtherNet
0.0553 pure
CY2023 upxi Other Net
OtherNet
0.0090 pure
CY2024 us-gaap Public Utilities Allowance For Funds Used During Construction Rate
PublicUtilitiesAllowanceForFundsUsedDuringConstructionRate
0.2543 pure
CY2023 us-gaap Public Utilities Allowance For Funds Used During Construction Rate
PublicUtilitiesAllowanceForFundsUsedDuringConstructionRate
0 pure
CY2024 upxi Provision For Income Taxes
ProvisionForIncomeTaxes
0.0138 pure
CY2023 upxi Provision For Income Taxes
ProvisionForIncomeTaxes
0.2583 pure
CY2024 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
4405547 usd
CY2023 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
752863 usd
CY2024 upxi Right Of Use Assets
RightOfUseAssets
98987 usd
CY2023 upxi Right Of Use Assets
RightOfUseAssets
0 usd
CY2024 upxi Inventory Write Off
InventoryWriteOff
981758 usd
CY2023 upxi Inventory Write Off
InventoryWriteOff
0 usd
CY2024 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
3159477 usd
CY2023 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
1015997 usd
CY2024 upxi Amortization Of Intangibles Assets
AmortizationOfIntangiblesAssets
1034959 usd
CY2023 upxi Amortization Of Intangibles Assets
AmortizationOfIntangiblesAssets
1741870 usd
CY2024 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
2323784 usd
CY2023 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1999688 usd
CY2024 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
16797 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
56112 usd
CY2024 upxi Accrued Compensations
AccruedCompensations
27540 usd
CY2023 upxi Accrued Compensations
AccruedCompensations
19323 usd
CY2024 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
0 usd
CY2023 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
18196 usd
CY2023 us-gaap Other Income
OtherIncome
7 usd
CY2024 us-gaap Other Income
OtherIncome
7 usd
CY2024 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
-6100000 usd
CY2023 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
0 usd
CY2024 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
5948858 usd
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
5604056 usd
CY2024Q2 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
44916500 usd
CY2023Q2 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
21258000 usd
CY2022Q2 upxi Valuation Reserves For Inventory
ValuationReservesForInventory
2506514 usd
CY2024Q2 upxi Valuation Reserves For Inventory
ValuationReservesForInventory
6100000 usd
CY2022Q2 us-gaap Short Term Debt Interest Rate Increase
ShortTermDebtInterestRateIncrease
0.085 pure

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