$USIO
Usio, Inc.

2021 Q1 Form 10-Q Financial Statement

#000143774921012041 Filed on May 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $13.46M $7.772M
YoY Change 73.21% 17.97%
Cost Of Revenue $10.55M $5.843M
YoY Change 80.62% 11.25%
Gross Profit $2.907M $1.928M
YoY Change 50.77% 44.36%
Gross Profit Margin 21.6% 24.81%
Selling, General & Admin $3.610M $2.798M
YoY Change 29.04% 15.05%
% of Gross Profit 124.17% 145.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $154.2K $137.8K
YoY Change 11.93% -41.75%
% of Gross Profit 5.31% 7.15%
Operating Expenses $3.610M $2.798M
YoY Change 29.04% 15.05%
Operating Profit -$702.7K -$869.3K
YoY Change -19.17% -20.68%
Interest Expense $0.00 $10.00K
YoY Change -100.0% -50.0%
% of Operating Profit
Other Income/Expense, Net $2.467K $11.84K
YoY Change -79.17% -48.67%
Pretax Income -$700.3K -$857.5K
YoY Change -18.34% -20.08%
Income Tax $20.00K -$22.47K
% Of Pretax Income
Net Earnings -$720.3K -$835.0K
YoY Change -13.74% -22.17%
Net Earnings / Revenue -5.35% -10.74%
Basic Earnings Per Share -$0.04 -$0.06
Diluted Earnings Per Share -$0.04 -$0.06
COMMON SHARES
Basic Shares Outstanding 19.93M 13.13M
Diluted Shares Outstanding 19.93M 13.13M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.280M $1.740M
YoY Change 145.98% -61.07%
Cash & Equivalents $4.284M $1.743M
Short-Term Investments
Other Short-Term Assets $65.54M $39.23M
YoY Change 67.07% -16.01%
Inventory $180.9K
Prepaid Expenses $242.4K
Receivables $3.598M $1.082M
Other Receivables $0.00 $0.00
Total Short-Term Assets $73.61M $42.06M
YoY Change 75.02% -19.77%
LONG-TERM ASSETS
Property, Plant & Equipment $3.226M $1.572M
YoY Change 105.18% -14.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $353.8K $424.7K
YoY Change -16.7% 32.39%
Total Long-Term Assets $13.29M $8.242M
YoY Change 61.28% 6.24%
TOTAL ASSETS
Total Short-Term Assets $73.61M $42.06M
Total Long-Term Assets $13.29M $8.242M
Total Assets $86.90M $50.30M
YoY Change 72.77% -18.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $493.3K $244.8K
YoY Change 101.49% 11.1%
Accrued Expenses $1.971M $1.370M
YoY Change 43.93% -30.02%
Deferred Revenue $57.35K $110.3K
YoY Change -48.0% 2105.88%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $53.14K
YoY Change
Total Short-Term Liabilities $68.03M $40.95M
YoY Change 66.12% -16.15%
LONG-TERM LIABILITIES
Long-Term Debt $112.9K $0.00
YoY Change
Other Long-Term Liabilities $2.490M $2.350M
YoY Change 5.96% -8.2%
Total Long-Term Liabilities $112.9K $2.350M
YoY Change -95.2% -8.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $68.03M $40.95M
Total Long-Term Liabilities $112.9K $2.350M
Total Liabilities $70.63M $43.30M
YoY Change 63.14% -15.77%
SHAREHOLDERS EQUITY
Retained Earnings -$65.78M -$62.99M
YoY Change 4.43% 8.39%
Common Stock $194.7K $186.7K
YoY Change 4.31% 0.17%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.215M $1.912M
YoY Change 15.85% 4.18%
Treasury Stock Shares $1.301M 1.138M shares
Shareholders Equity $16.27M $7.003M
YoY Change
Total Liabilities & Shareholders Equity $86.90M $50.30M
YoY Change 72.77% -18.91%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$720.3K -$835.0K
YoY Change -13.74% -22.17%
Depreciation, Depletion And Amortization $154.2K $137.8K
YoY Change 11.93% -41.75%
Cash From Operating Activities $10.48M -$1.654M
YoY Change -733.45% 38.27%
INVESTING ACTIVITIES
Capital Expenditures $274.5K $152.7K
YoY Change 79.8% -0.18%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$274.5K -$152.7K
YoY Change 79.8% -0.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $49.45K $26.63K
YoY Change 85.71% -101.5%
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities $116.5K -26.63K
YoY Change -537.65% -101.5%
NET CHANGE
Cash From Operating Activities $10.48M -1.654M
Cash From Investing Activities -$274.5K -152.7K
Cash From Financing Activities $116.5K -26.63K
Net Change In Cash $10.32M -1.834M
YoY Change -662.91% -533.89%
FREE CASH FLOW
Cash From Operating Activities $10.48M -$1.654M
Capital Expenditures $274.5K $152.7K
Free Cash Flow $10.21M -$1.807M
YoY Change -664.75% 33.92%

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CY2020Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
515199
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
CY2021Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3609956
CY2020Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2797611
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
327715
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
287710
CY2020Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.08
CY2020Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.5779
CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
120535
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
16270354
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
16703361
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
7568335
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
7003392
CY2021Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
1300903
CY2020Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1285781
CY2021Q1 us-gaap Treasury Stock Value
TreasuryStockValue
2215175
CY2020Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2165721
CY2021Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
49454
CY2020Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
26629
CY2021Q1 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=" margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><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>
CY2021Q1 usio Merchant Reserves Current
MerchantReservesCurrent
8317462
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13127229
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19931935
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13127229
CY2021Q1 usio Amortization Of Deferred Compensation
AmortizationOfDeferredCompensation
249801
CY2020Q1 usio Amortization Of Deferred Compensation
AmortizationOfDeferredCompensation
228219
CY2021Q1 usio Amortization Of Warrant Costs
AmortizationOfWarrantCosts
8985
CY2020Q1 usio Amortization Of Warrant Costs
AmortizationOfWarrantCosts
8985
CY2021Q1 usio Assets Current Excluding Merchant Reserves
AssetsCurrentExcludingMerchantReserves
65292982
CY2020Q4 usio Assets Current Excluding Merchant Reserves
AssetsCurrentExcludingMerchantReserves
60826971
CY2021Q1 usio Assets Noncurrent Excluding Property Plant And Equipment Net
AssetsNoncurrentExcludingPropertyPlantAndEquipmentNet
10065955
CY2020Q4 usio Assets Noncurrent Excluding Property Plant And Equipment Net
AssetsNoncurrentExcludingPropertyPlantAndEquipmentNet
10469105
CY2021Q1 usio Customer Deposits Asset Current
CustomerDepositsAssetCurrent
1357242
CY2020Q4 usio Customer Deposits Asset Current
CustomerDepositsAssetCurrent
1305296
CY2020Q4 usio Customer Deposits Assets Current
CustomerDepositsAssetsCurrent
1305296
CY2019Q4 usio Customer Deposits Assets Current
CustomerDepositsAssetsCurrent
CY2021Q1 usio Customer Deposits Assets Current
CustomerDepositsAssetsCurrent
1357242
CY2020Q1 usio Customer Deposits Assets Current
CustomerDepositsAssetsCurrent
CY2021Q1 usio Customer Deposits Liability Current
CustomerDepositsLiabilityCurrent
1357242
CY2020Q4 usio Customer Deposits Liability Current
CustomerDepositsLiabilityCurrent
1305296
CY2021Q1 usio Increase Decrease In Customer Deposits Liability
IncreaseDecreaseInCustomerDepositsLiability
51946
CY2020Q1 usio Increase Decrease In Customer Deposits Liability
IncreaseDecreaseInCustomerDepositsLiability
CY2021Q1 usio Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
78948
CY2020Q1 usio Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-54767
CY2021Q1 usio Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
79080
CY2020Q1 usio Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-56727
CY2021Q1 usio Increase Decrease In Prepaid Card Load Liabilities
IncreaseDecreaseInPrepaidCardLoadLiabilities
10945232
CY2020Q1 usio Increase Decrease In Prepaid Card Load Liabilities
IncreaseDecreaseInPrepaidCardLoadLiabilities
53141
CY2021Q1 usio Increase Decrease In Restricted Cash And Cash Equivalents Current Operating Activities
IncreaseDecreaseInRestrictedCashAndCashEquivalentsCurrentOperatingActivities
51907
CY2020Q1 usio Increase Decrease In Restricted Cash And Cash Equivalents Current Operating Activities
IncreaseDecreaseInRestrictedCashAndCashEquivalentsCurrentOperatingActivities
-1492000
CY2021Q1 usio Issuance Of Deferred Sharebased Compensation
IssuanceOfDeferredSharebasedCompensation
CY2020Q1 usio Issuance Of Deferred Sharebased Compensation
IssuanceOfDeferredSharebasedCompensation
CY2021Q1 usio Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
1115689
CY2021Q1 usio Liabilities Current Excluding Restricted Cash
LiabilitiesCurrentExcludingRestrictedCash
59707739
CY2020Q4 usio Liabilities Current Excluding Restricted Cash
LiabilitiesCurrentExcludingRestrictedCash
55202758
CY2020Q4 usio Merchant Reserves Current
MerchantReservesCurrent
8265555
CY2019Q4 usio Merchant Reserves Current
MerchantReservesCurrent
10016904
CY2020Q1 usio Merchant Reserves Current
MerchantReservesCurrent
8524904
CY2021Q1 usio Prepaid Card Load Assets Current
PrepaidCardLoadAssetsCurrent
18555474
CY2020Q4 usio Prepaid Card Load Assets Current
PrepaidCardLoadAssetsCurrent
7610242
CY2019Q4 usio Prepaid Card Load Assets Current
PrepaidCardLoadAssetsCurrent
528434
CY2020Q1 usio Prepaid Card Load Assets Current
PrepaidCardLoadAssetsCurrent
581575
CY2021Q1 usio Prepaid Card Load Liabilities Current
PrepaidCardLoadLiabilitiesCurrent
18555474
CY2020Q4 usio Prepaid Card Load Liabilities Current
PrepaidCardLoadLiabilitiesCurrent
7610242
CY2021Q1 usio Restricted Cash Liability Current
RestrictedCashLiabilityCurrent
8317462
CY2020Q4 usio Restricted Cash Liability Current
RestrictedCashLiabilityCurrent
8265555
CY2021Q1 usio Reversal Of Deferred Compensation Amortization
ReversalOfDeferredCompensationAmortization
42622
CY2021Q1 usio Settlement Processing Assets
SettlementProcessingAssets
36792386
CY2020Q4 usio Settlement Processing Assets
SettlementProcessingAssets
43558442
CY2021Q1 usio Settlement Processing Liabilities
SettlementProcessingLiabilities
36792386
CY2020Q4 usio Settlement Processing Liabilities
SettlementProcessingLiabilities
43558442
CY2021Q1 usio Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
CY2021Q1 usio Warrants And Rights Outstanding Reduction Of Revenue During Period
WarrantsAndRightsOutstandingReductionOfRevenueDuringPeriod
8985
CY2020Q1 usio Warrants And Rights Outstanding Reduction Of Revenue During Period
WarrantsAndRightsOutstandingReductionOfRevenueDuringPeriod
8985

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