$USIO
Usio, Inc.

2015 Form 10-K Financial Statement

#000117184316008902 Filed on March 30, 2016

View on sec.gov

Income Statement

Concept 2015 2014 Q4 2014
Revenue $14.38M $3.760M $13.40M
YoY Change 7.36% 68.61% 158.59%
Cost Of Revenue $9.417M $2.340M $9.217M
YoY Change 2.17% 35.26% 118.93%
Gross Profit $4.963M $1.430M $4.178M
YoY Change 18.79% 186.0% 330.75%
Gross Profit Margin 34.51% 38.03% 31.19%
Selling, General & Admin $1.280M $70.00K $290.0K
YoY Change 341.38% 0.0% 0.0%
% of Gross Profit 25.79% 4.9% 6.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $466.6K $10.00K $40.95K
YoY Change 1039.37% 0.0% 36.51%
% of Gross Profit 9.4% 0.7% 0.98%
Operating Expenses $13.43M $490.0K $11.15M
YoY Change 20.48% 11.36% 544.52%
Operating Profit $946.9K $940.0K $2.245M
YoY Change -57.82% 1466.67% -395.4%
Interest Expense $80.00K
YoY Change
% of Operating Profit 8.45%
Other Income/Expense, Net $144.5K $60.00K $111.1K
YoY Change 30.11%
Pretax Income $1.091M $990.0K $2.356M
YoY Change -53.68% 1550.0% -410.01%
Income Tax $75.29K -$1.510M -$1.482M
% Of Pretax Income 6.9% -152.53% -62.91%
Net Earnings $1.016M $2.500M $3.838M
YoY Change -73.53% 4900.0% -585.86%
Net Earnings / Revenue 7.07% 66.49% 28.65%
Basic Earnings Per Share $0.14 $0.59
Diluted Earnings Per Share $0.08 $240.2K $0.41
COMMON SHARES
Basic Shares Outstanding 7.389M 137.2M shares 6.472M
Diluted Shares Outstanding 11.99M 9.256M

Balance Sheet

Concept 2015 2014 Q4 2014
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.060M $2.800M $2.800M
YoY Change 45.0% -89.46% -89.46%
Cash & Equivalents $4.060M $2.803M $2.800M
Short-Term Investments
Other Short-Term Assets $57.92M $52.32M $52.32M
YoY Change 10.7% 52220.0% 52220.0%
Inventory
Prepaid Expenses $129.3K
Receivables $1.140M $1.037M $1.040M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $63.11M $56.16M $56.16M
YoY Change 12.38% 106.0% 106.02%
LONG-TERM ASSETS
Property, Plant & Equipment $3.080M $2.706M $2.710M
YoY Change 13.65% 2154.6% 2158.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.820M $204.1K $1.830M
YoY Change -0.55% 70.09% 1425.0%
Total Long-Term Assets $5.250M $2.237M $4.940M
YoY Change 6.28% 728.69% 1729.63%
TOTAL ASSETS
Total Short-Term Assets $63.11M $56.16M $56.16M
Total Long-Term Assets $5.250M $2.237M $4.940M
Total Assets $68.36M $61.10M $61.10M
YoY Change 11.88% 121.94% 121.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $140.0K $37.81K $40.00K
YoY Change 250.0% -36.99% -33.33%
Accrued Expenses $1.330M $1.851M $1.850M
YoY Change -28.11% 69.82% 69.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $59.24M $54.08M $54.08M
YoY Change 9.54% 101.1% 101.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $59.24M $54.08M $54.08M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $59.24M $54.08M $54.08M
YoY Change 9.54% 101.12% 101.12%
SHAREHOLDERS EQUITY
Retained Earnings -$50.07M
YoY Change
Common Stock $184.2K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $238.2K
YoY Change
Treasury Stock Shares $333.0K
Shareholders Equity $9.120M $7.024M $7.020M
YoY Change
Total Liabilities & Shareholders Equity $68.36M $61.10M $61.10M
YoY Change 11.88% 121.95% 121.94%

Cashflow Statement

Concept 2015 2014 Q4 2014
OPERATING ACTIVITIES
Net Income $1.016M $2.500M $3.838M
YoY Change -73.53% 4900.0% -585.86%
Depreciation, Depletion And Amortization $466.6K $10.00K $40.95K
YoY Change 1039.37% 0.0% 36.51%
Cash From Operating Activities $2.090M -$5.790M $2.007M
YoY Change 4.15% -133.05% -91.34%
INVESTING ACTIVITIES
Capital Expenditures $785.6K $0.00 $36.77K
YoY Change 2036.33% -161.29%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$785.6K $0.00 -$36.77K
YoY Change 2036.33% -38.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $48.24K $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -48.24K 0.000
YoY Change
NET CHANGE
Cash From Operating Activities 2.090M -5.790M 2.007M
Cash From Investing Activities -785.6K 0.000 -36.77K
Cash From Financing Activities -48.24K 0.000
Net Change In Cash 1.256M -5.790M 1.970M
YoY Change -36.23% -133.05% -91.37%
FREE CASH FLOW
Cash From Operating Activities $2.090M -$5.790M $2.007M
Capital Expenditures $785.6K $0.00 $36.77K
Free Cash Flow $1.304M -$5.790M $1.970M
YoY Change -33.78% -133.05% -91.52%

Facts In Submission

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CY2015Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
112414
CY2014Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
128345
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
202849
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
204112
CY2015 us-gaap Other General Expense
OtherGeneralExpense
2408686
CY2014 us-gaap Other General Expense
OtherGeneralExpense
1600287
CY2015 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
65490
CY2014 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
44269
CY2015 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
48237
CY2014 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
785571
CY2014 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
36772
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2015Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
149118
CY2014Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
129258
CY2015 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Reclassifications</div>: Certain amounts from 2014 have been reclassified for comparative purposes for 2015. These reclassifications have no impact on the Company&#x2019;s previously reported operating results.</div></div></div></div></div></div></div>
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4588776
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3791050
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3077421
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2705517
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
167
CY2014 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
5000
CY2015 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
11950
CY2015 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
138819
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
206
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
9115276
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
7024072
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
638804
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
17972065
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
15660577
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-49054999
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-50071087
CY2015 us-gaap Revenues
Revenues
14380459
CY2014 us-gaap Revenues
Revenues
13395131
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
1275130
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
291980
CY2014Q4 us-gaap Share Price
SharePrice
2.51
CY2015Q4 us-gaap Share Price
SharePrice
1.99
CY2015Q3 us-gaap Stock Issued During Period Shares Reverse Stock Splits
StockIssuedDuringPeriodSharesReverseStockSplits
1117
CY2014 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
333010
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
349632
CY2015 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
16615
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
286394
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
238157
CY2015 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
48237
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Use of Estimates: </div>The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div>
CY2015Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
248868
CY2014Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
272365
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4599003
CY2014 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2784322
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11988180
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9256393
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7389177
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6472071

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