10-Q Filing

ENERGY FOCUS, INC/DE CIK: 924168 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000924168-18-000032`
Period End Date	20180331
Filing Date	20180502
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	efoi-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 30 Cash Flow Statement 60 Stockholders Equity 11 Comprehensive Income 6

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$20.00K	USD	Point-in-time
Trade accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$42.00K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.17M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.97M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.63M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.76M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Trade accounts receivable, less allowances of $20 and $42, respectively	`AccountsReceivableNetCurrent`	$3.55M	USD	Point-in-time
Trade accounts receivable, less allowances of $20 and $42, respectively	`AccountsReceivableNetCurrent`	$3.60M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$5.61M	USD	Point-in-time
Inventories, net	`InventoryNet`	$5.72M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$886.00K	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$596.00K	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$225.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	11.87M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$20.89M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.22M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	11.93M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.87M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.00M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.93M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.10M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$144.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$159.00K	USD	Point-in-time
Total assets	`Assets`	$22.15M	USD	Point-in-time
Total assets	`Assets`	$21.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.63M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$145.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$130.00K	USD	Point-in-time
Accrued payroll and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$440.00K	USD	Point-in-time
Accrued payroll and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$394.00K	USD	Point-in-time
Accrued sales commissions	`AccruedSalesCommissionCurrent`	$178.00K	USD	Point-in-time
Accrued sales commissions	`AccruedSalesCommissionCurrent`	$124.00K	USD	Point-in-time
Accrued restructuring	`RestructuringReserveCurrent`	$170.00K	USD	Point-in-time
Accrued restructuring	`RestructuringReserveCurrent`	$91.00K	USD	Point-in-time
Accrued warranty reserve	`ProductWarrantyAccrualClassifiedCurrent`	$174.00K	USD	Point-in-time
Accrued warranty reserve	`ProductWarrantyAccrualClassifiedCurrent`	$141.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$5.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$27.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.63M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.10M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$232.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$201.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.30M	USD	Point-in-time
Preferred stock, par value $0.0001 per share: Authorized: 2,000,000 shares in 2017 and 2016, Issued and outstanding: no shares in 2016 and 2015	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.0001 per share: Authorized: 2,000,000 shares in 2017 and 2016, Issued and outstanding: no shares in 2016 and 2015	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.0001 per share: Authorized: 30,000,000 shares in 2017 and 2016, Issued and outstanding: 11,690,030 at September 30, 2016 and 11,648,978 at December 31, 2015	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock, par value $0.0001 per share: Authorized: 30,000,000 shares in 2017 and 2016, Issued and outstanding: 11,690,030 at September 30, 2016 and 11,648,978 at December 31, 2015	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$127.49M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$127.66M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-110.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-108.20M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$17.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$19.29M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$21.36M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$22.15M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$4.11M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$4.66M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.84M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.54M	USD	1 Quarter
Gross profit	`GrossProfit`	$561.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$816.00K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$629.00K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$771.00K	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$3.63M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$2.65M	USD	1 Quarter
Restructuring	`RestructuringCosts`	$-50.00K	USD	1 Quarter
Restructuring	`RestructuringCosts`	$674.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.23M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.08M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.51M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.41M	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Other (income) expense	`OtherNonoperatingIncomeExpense`	$21.00K	USD	1 Quarter
Other (income) expense	`OtherNonoperatingIncomeExpense`	$-7.00K	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.52M	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.39M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.39M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.52M	USD	1 Quarter
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.20	USD	1 Quarter
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.39	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.90M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.72M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.39M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.52M	USD	1 Quarter
Depreciation	`Depreciation`	$177.00K	USD	1 Quarter
Depreciation	`Depreciation`	$151.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$195.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$207.00K	USD	1 Quarter
Stock-based compensation reversal	`SharebasedCompensationReversal`	$269.00K	USD	1 Quarter
Stock-based compensation reversal	`SharebasedCompensationReversal`	-	USD	1 Quarter
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$-22.00K	USD	1 Quarter
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Provision for slow-moving and obsolete inventories and valuation reserves	`InventoryWriteDown`	$-487.00K	USD	1 Quarter
Provision for slow-moving and obsolete inventories and valuation reserves	`InventoryWriteDown`	$162.00K	USD	1 Quarter
Provision for warranties	`IncreaseDecreaseInProvisionForWarranties`	$13.00K	USD	1 Quarter
Provision for warranties	`IncreaseDecreaseInProvisionForWarranties`	$-33.00K	USD	1 Quarter
(Gain) loss on dispositions of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$19.00K	USD	1 Quarter
(Gain) loss on dispositions of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-8.00K	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-66.00K	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.05M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-597.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-866.00K	USD	1 Quarter
Prepaid and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$114.00K	USD	1 Quarter
Prepaid and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$274.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.65M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.40M	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$248.00K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$53.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$22.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$174.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$2.88M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.65M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.65M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-743.00K	USD	1 Quarter
Acquisitions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$57.00K	USD	1 Quarter
Acquisitions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.00K	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSalesOfAssetsInvestingActivities`	$244.00K	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSalesOfAssetsInvestingActivities`	-	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$187.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-29.00K	USD	1 Quarter
Proceeds from exercises of stock options and employee stock purchase plan purchases	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$77.00K	USD	1 Quarter
Proceeds from exercises of stock options and employee stock purchase plan purchases	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	-	USD	1 Quarter
Common stock withheld to satisfy income tax withholding on vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$32.00K	USD	1 Quarter
Common stock withheld to satisfy income tax withholding on vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$47.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$30.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-32.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-1.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-15.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-589.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.66M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.17M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.97M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.63M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.76M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.97M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.63M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.76M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.97M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.63M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.76M	USD	Point-in-time

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning of the period	`StockholdersEquity`	$17.07M	USD	Point-in-time
Balance at the beginning of the period	`StockholdersEquity`	$19.29M	USD	Point-in-time
Issuance of common stock under employee stock option and stock purchase plans	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	-	USD	1 Quarter
Common stock withheld in lieu of income tax withholding on vesting of restricted stock units	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$32.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$195.00K	USD	1 Quarter
Stock-based compensation reversal	`AdjustmentstoAdditionalPaidinCapitalSharebasedCompensationStockOptionsRequisiteServicePeriodRecognitionReversal`	$270.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$5.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.00K	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-2.39M	USD	1 Quarter
Balance at the end of the period	`StockholdersEquity`	$17.07M	USD	Point-in-time
Balance at the end of the period	`StockholdersEquity`	$19.29M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.39M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.52M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$5.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.39M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.52M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.