10-Q Filing

REVOLUTION LIGHTING TECHNOLOGIES, INC. CIK: 917523 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001193125-16-587728`
Period End Date	20160331
Filing Date	20160512
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	rvlt-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 28 Cash Flow Statement 52 Stockholders Equity 15

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.00M	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$909.00K	USD	Point-in-time
Inventories, reserve	`InventoryValuationReserves`	$1.95M	USD	Point-in-time
Inventories, reserve	`InventoryValuationReserves`	$2.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$219.00K	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$13.92M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$12.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.64M	USD	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $909 and $1,005	`AccountsReceivableNetCurrent`	$36.01M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $909 and $1,005	`AccountsReceivableNetCurrent`	$41.13M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Unbilled contract receivables	`UnbilledContractsReceivableCurrent`	$3.50M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Unbilled contract receivables	`UnbilledContractsReceivableCurrent`	$4.56M	USD	Point-in-time
Inventories, less reserves of $2,008 and $1,946	`InventoryNet`	$22.14M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	15.96M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	16.01M	shares	Point-in-time
Inventories, less reserves of $2,008 and $1,946	`InventoryNet`	$25.87M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.83M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$4.00M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	16.01M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	15.96M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$70.67M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$71.88M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$2.67M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$2.70M	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.48M	USD	Point-in-time
Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.46M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$1.19M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$1.25M	USD	Point-in-time
Goodwill	`Goodwill`	$64.27M	USD	Point-in-time
Goodwill	`Goodwill`	$64.27M	USD	Point-in-time
Intangible assets, less accumulated amortization of $13,921 and $12,849	`FiniteLivedIntangibleAssetsNet`	$39.59M	USD	Point-in-time
Intangible assets, less accumulated amortization of $13,921 and $12,849	`FiniteLivedIntangibleAssetsNet`	$38.52M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$561.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$651.00K	USD	Point-in-time
Total assets	`Assets`	$177.63M	USD	Point-in-time
Total assets	`Assets`	$175.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$19.91M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.26M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$3.39M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$3.72M	USD	Point-in-time
Notes payable - current	`NotesPayableCurrent`	$10.39M	USD	Point-in-time
Notes payable - current	`NotesPayableCurrent`	$10.36M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$5.42M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$5.33M	USD	Point-in-time
Purchase price obligations - current	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$7.99M	USD	Point-in-time
Purchase price obligations - current	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$7.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$46.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.78M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$23.17M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$22.03M	USD	Point-in-time
Related party payable	`DueToRelatedPartiesNoncurrent`	$2.56M	USD	Point-in-time
Related party payable	`DueToRelatedPartiesNoncurrent`	$2.56M	USD	Point-in-time
Note payable - noncurrent	`LongTermNotesPayable`	$2.43M	USD	Point-in-time
Note payable - noncurrent	`LongTermNotesPayable`	$2.34M	USD	Point-in-time
Purchase price obligation - noncurrent	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$1.02M	USD	Point-in-time
Purchase price obligation - noncurrent	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$1.76M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$530.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$727.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$75.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$75.40M	USD	Point-in-time
Common stock, $.001 par value, 200,000 shares authorized, 16,012 and 15,964 issued and outstanding at March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$16.00K	USD	Point-in-time
Common stock, $.001 par value, 200,000 shares authorized, 16,012 and 15,964 issued and outstanding at March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$16.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$177.08M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$176.76M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-77.29M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-74.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$99.81M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$102.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$77.32M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$177.63M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$175.21M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$27.59M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$20.33M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$13.16M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$18.54M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.17M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.05M	USD	1 Quarter
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$1.14M	USD	1 Quarter
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$299.00K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$1.03M	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$1.31M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$430.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$534.00K	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$7.59M	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$6.47M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$631.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$685.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.03M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$11.10M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.05M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.85M	USD	1 Quarter
Interest and other expense	`InterestExpenseOther`	$563.00K	USD	1 Quarter
Interest and other expense	`InterestExpenseOther`	$192.00K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.62M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.05M	USD	1 Quarter
Basic and diluted net loss per common share attributable to common stockholders	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	1 Quarter
Basic and diluted net loss per common share attributable to common stockholders	`EarningsPerShareBasicAndDiluted`	$-0.15	USD	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.15M	shares	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.77M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.38M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.62M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.05M	USD	1 Quarter
Depreciation	`Depreciation`	$143.00K	USD	1 Quarter
Depreciation	`Depreciation`	$100.00K	USD	1 Quarter
Amortization of intangible and other assets	`AmortizationOfIntangibleAssetsAndOtherAssets`	$890.00K	USD	1 Quarter
Amortization of intangible and other assets	`AmortizationOfIntangibleAssetsAndOtherAssets`	$1.21M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$430.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$534.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$406.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$377.00K	USD	1 Quarter
Decrease in trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-5.12M	USD	1 Quarter
Decrease in trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-2.92M	USD	1 Quarter
Decrease in unbilled contract receivable	`IncreaseDecreaseInUnbilledReceivables`	$-1.06M	USD	1 Quarter
Increase in inventories, net	`IncreaseDecreaseInInventories`	$4.60M	USD	1 Quarter
Increase in inventories, net	`IncreaseDecreaseInInventories`	$3.73M	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$222.00K	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$142.00K	USD	1 Quarter
Decrease in accounts payable, accrued and other liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$-1.75M	USD	1 Quarter
Decrease in accounts payable, accrued and other liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$-4.77M	USD	1 Quarter
Increase (decrease) in accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$116.00K	USD	1 Quarter
Increase (decrease) in accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-527.00K	USD	1 Quarter
Net cash generated by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$93.00K	USD	1 Quarter
Net cash generated by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.20M	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$100.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$46.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$160.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-46.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-260.00K	USD	1 Quarter
Fees pertaining to issuance of common stock	`PaymentsOfStockIssuanceCosts`	$60.00K	USD	1 Quarter
Fees pertaining to issuance of common stock	`PaymentsOfStockIssuanceCosts`	$287.00K	USD	1 Quarter
Repayments of notes payable	`RepaymentsOfNotesPayable`	$120.00K	USD	1 Quarter
Repayments of notes payable	`RepaymentsOfNotesPayable`	$60.00K	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$3.47M	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$1.14M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.02M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.06M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.07M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.40M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.03M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$219.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.29M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.64M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.03M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$219.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.29M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.64M	USD	Point-in-time
Cash paid during period for interest	`InterestPaid`	$59.00K	USD	1 Quarter
Cash paid during period for interest	`InterestPaid`	$195.00K	USD	1 Quarter
Issuance of common stock for contingent consideration	`StockIssued1`	$167.00K	USD	1 Quarter
Issuance of common stock for contingent consideration	`StockIssued1`	$5.84M	USD	1 Quarter
Deferred consideration for acquisition	`DeferredConsiderationOnBusinessAcquisition`	$500.00K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$99.81M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$102.10M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$77.32M	USD	Point-in-time
Issuance of common stock for cash, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$9.51M	USD	Annual
Shares issued for contingent consideration	`StockIssuedDuringPeriodValueContingentConsiderations`	$5.84M	USD	Annual
Shares issued for acquisition	`StockIssuedDuringPeriodValueAcquisitions`	$167.00K	USD	1 Quarter
Shares issued for acquisition	`StockIssuedDuringPeriodValueAcquisitions`	$10.18M	USD	Annual
Cancellation of reacquired escrowed common stock	`CancellationOfCommonStockHeldInEscrowInConnectionWithAcquisitionValue`	$547.00K	USD	Annual
Fees associated with issuance of common stock	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$60.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.38M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.62M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.05M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$99.81M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$102.10M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$77.32M	USD	Point-in-time

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