10-Q Filing

XPLORE TECHNOLOGIES CORP CIK: 1177845 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001185185-16-005696`
Period End Date	20160930
Filing Date	20161110
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	xplr-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 76 Cash Flow Statement 50

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
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	`CashAndCashEquivalentsAtCarryingValue`	$19.45M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	0.00	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.46M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$14.28M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$14.55M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory, net	`InventoryNet`	$19.15M	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory, net	`InventoryNet`	$14.86M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	15.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	15.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$331.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$800.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.53M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.91M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$37.49M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.91M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$1.03M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$1.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.78M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.60M	USD	Point-in-time
Goodwill	`Goodwill`	$15.16M	USD	Point-in-time
Goodwill	`Goodwill`	$14.87M	USD	Point-in-time
Assets	`Assets`	$55.28M	USD	Point-in-time
Assets	`Assets`	$53.19M	USD	Point-in-time
Short-term indebtedness with bank	`ShortTermBorrowings`	$9.25M	USD	Point-in-time
Short-term indebtedness with bank	`ShortTermBorrowings`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.96M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.61M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.41M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.11M	USD	Point-in-time
Deferred revenue and current warranty liabilities	`OtherLiabilitiesCurrent`	$4.41M	USD	Point-in-time
Deferred revenue and current warranty liabilities	`OtherLiabilitiesCurrent`	$4.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.43M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.35M	USD	Point-in-time
Deferred revenue and non-current warranty liabilities	`OtherLiabilitiesNoncurrent`	$4.57M	USD	Point-in-time
Deferred revenue and non-current warranty liabilities	`OtherLiabilitiesNoncurrent`	$3.68M	USD	Point-in-time
Total liabilities	`Liabilities`	$26.04M	USD	Point-in-time
Total liabilities	`Liabilities`	$22.00M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock, par value $0.001 per share; authorized 5,000; no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, par value $0.001 per share; authorized 5,000; no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, par value $0.001 per share; authorized 15,000; shares issued 10,926 and 10,908, respectively	`CommonStockValue`	$11.00K	USD	Point-in-time
Common Stock, par value $0.001 per share; authorized 15,000; shares issued 10,926 and 10,908, respectively	`CommonStockValue`	$11.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$171.14M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$171.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-139.96M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-142.24M	USD	Point-in-time
StockholdersEquity	`StockholdersEquity`	$29.25M	USD	Point-in-time
StockholdersEquity	`StockholdersEquity`	$31.19M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$53.19M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$55.28M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$52.90M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$36.48M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$28.85M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$20.01M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$36.64M	USD	2 Qtrs
Cost of revenue	`CostOfGoodsAndServicesSold`	$14.37M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$25.98M	USD	2 Qtrs
Cost of revenue	`CostOfGoodsAndServicesSold`	$20.74M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.64M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.11M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.50M	USD	2 Qtrs
Gross profit	`GrossProfit`	$16.26M	USD	2 Qtrs
Sales, marketing and support	`SellingAndMarketingExpense`	$6.33M	USD	2 Qtrs
Sales, marketing and support	`SellingAndMarketingExpense`	$7.26M	USD	2 Qtrs
Sales, marketing and support	`SellingAndMarketingExpense`	$2.90M	USD	1 Quarter
Sales, marketing and support	`SellingAndMarketingExpense`	$3.64M	USD	1 Quarter
Product research, development and engineering	`ResearchAndDevelopmentExpense`	$2.27M	USD	2 Qtrs
Product research, development and engineering	`ResearchAndDevelopmentExpense`	$1.32M	USD	1 Quarter
Product research, development and engineering	`ResearchAndDevelopmentExpense`	$3.41M	USD	2 Qtrs
Product research, development and engineering	`ResearchAndDevelopmentExpense`	$1.58M	USD	1 Quarter
General administration	`GeneralAndAdministrativeExpense`	$3.91M	USD	2 Qtrs
General administration	`GeneralAndAdministrativeExpense`	$1.87M	USD	1 Quarter
General administration	`GeneralAndAdministrativeExpense`	$4.82M	USD	2 Qtrs
General administration	`GeneralAndAdministrativeExpense`	$2.49M	USD	1 Quarter
OperatingExpenses	`OperatingExpenses`	$12.51M	USD	2 Qtrs
OperatingExpenses	`OperatingExpenses`	$7.71M	USD	1 Quarter
OperatingExpenses	`OperatingExpenses`	$15.49M	USD	2 Qtrs
OperatingExpenses	`OperatingExpenses`	$6.08M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-445.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$403.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$772.00K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-2.01M	USD	2 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$-131.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-77.00K	USD	2 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$-22.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-68.00K	USD	2 Qtrs
Cost of integration	`BusinessCombinationIntegrationRelatedCosts`	$122.00K	USD	1 Quarter
Cost of integration	`BusinessCombinationIntegrationRelatedCosts`	$792.00K	USD	2 Qtrs
Cost of integration	`BusinessCombinationIntegrationRelatedCosts`	-	USD	1 Quarter
Cost of integration	`BusinessCombinationIntegrationRelatedCosts`	-	USD	2 Qtrs
Interest expense	`InterestExpense`	$69.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$52.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$58.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$118.00K	USD	2 Qtrs
NonoperatingIncomeExpense	`NonoperatingIncomeExpense`	$-91.00K	USD	1 Quarter
NonoperatingIncomeExpense	`NonoperatingIncomeExpense`	$-305.00K	USD	1 Quarter
NonoperatingIncomeExpense	`NonoperatingIncomeExpense`	$-195.00K	USD	2 Qtrs
NonoperatingIncomeExpense	`NonoperatingIncomeExpense`	$-918.00K	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-146.00K	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-536.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.20M	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$98.00K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$80.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-146.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.28M	USD	2 Qtrs
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-536.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$98.00K	USD	1 Quarter
Income (loss) per common share, primary (in Dollars per share)	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
Income (loss) per common share, primary (in Dollars per share)	`EarningsPerShareBasic`	$-0.21	USD	2 Qtrs
Income (loss) per common share, primary (in Dollars per share)	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Income (loss) per common share, primary (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	2 Qtrs
Income (loss) per common share, fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Income (loss) per common share, fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Income (loss) per common share, fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Income (loss) per common share, fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted average number of common shares outstanding, basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.80M	shares	2 Qtrs
Weighted average number of common shares outstanding, basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.81M	shares	1 Quarter
Weighted average number of common shares outstanding, basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.92M	shares	2 Qtrs
Weighted average number of common shares outstanding, basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.93M	shares	1 Quarter
Weighted average number of common shares outstanding, fully diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	0.00	shares	1 Quarter
Weighted average number of common shares outstanding, fully diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.92M	shares	1 Quarter
Weighted average number of common shares outstanding, fully diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	0.00	shares	2 Qtrs
Weighted average number of common shares outstanding, fully diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	0.00	shares	2 Qtrs

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-146.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.28M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$815.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$804.00K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$24.00K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-52.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$302.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$1.10M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$224.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.44M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$932.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$4.29M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-469.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$326.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.97M	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-5.21M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.88M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.49M	USD	2 Qtrs
Net cash received in purchase transaction	`CashAcquiredFromAcquisition`	$653.00K	USD	2 Qtrs
Net cash received in purchase transaction	`CashAcquiredFromAcquisition`	-	USD	2 Qtrs
Change in liabilities assumed in purchase of business	`PaymentsForProceedsFromPreviousAcquisition`	$-16.00K	USD	2 Qtrs
Change in liabilities assumed in purchase of business	`PaymentsForProceedsFromPreviousAcquisition`	$287.00K	USD	2 Qtrs
Additions to fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$429.00K	USD	2 Qtrs
Additions to fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$652.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-939.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$240.00K	USD	2 Qtrs
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$27.60M	USD	2 Qtrs
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$18.00M	USD	2 Qtrs
Repayment of short-term indebtedness	`RepaymentsOfShortTermDebt`	$27.10M	USD	2 Qtrs
Repayment of short-term indebtedness	`RepaymentsOfShortTermDebt`	$18.35M	USD	2 Qtrs
Net proceeds from issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$165.00K	USD	2 Qtrs
Net proceeds from issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$42.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.93M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.29M	USD	2 Qtrs
CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-15.57M	USD	2 Qtrs
CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.14M	USD	2 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$19.45M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.89M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.59M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.46M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$19.45M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.89M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.59M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$3.46M	USD	Point-in-time
Net assets acquired with debt in purchase transaction	`FairValueOfAssetsAcquired`	$9.08M	USD	2 Qtrs
Net assets acquired with debt in purchase transaction	`FairValueOfAssetsAcquired`	-	USD	2 Qtrs
Payments for interest	`InterestPaid`	$58.00K	USD	2 Qtrs
Payments for interest	`InterestPaid`	$77.00K	USD	2 Qtrs
Payments for income taxes	`IncomeTaxesPaidNet`	$80.00K	USD	2 Qtrs
Payments for income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs

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