10-Q Filing

REVOLUTION LIGHTING TECHNOLOGIES, INC. CIK: 917523 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001193125-16-763714`
Period End Date	20160930
Filing Date	20161109
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	rvlt-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 61 Cash Flow Statement 64 Stockholders Equity 19

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	35.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	35.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.91M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.84M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$219.00K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	15.96M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$882.00K	USD	Point-in-time
Trade receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$47.68M	USD	Point-in-time
Trade receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$41.13M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	15.96M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.84M	shares	Point-in-time
Unbilled contracts receivable	`UnbilledContractsReceivableCurrent`	$4.56M	USD	Point-in-time
Unbilled contracts receivable	`UnbilledContractsReceivableCurrent`	$7.87M	USD	Point-in-time
Inventories, net	`InventoryNet`	$22.14M	USD	Point-in-time
Inventories, net	`InventoryNet`	$24.23M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.83M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$6.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$90.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$71.88M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.25M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.22M	USD	Point-in-time
Goodwill	`Goodwill`	$64.27M	USD	Point-in-time
Goodwill	`Goodwill`	$71.83M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$44.47M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$39.59M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$651.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$474.00K	USD	Point-in-time
Total assets	`Assets`	$177.63M	USD	Point-in-time
Total assets	`Assets`	$208.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$19.91M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$25.24M	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$10.36M	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$11.36M	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$8.72M	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$9.85M	USD	Point-in-time
Purchase price obligations	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$7.04M	USD	Point-in-time
Purchase price obligations	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$2.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.35M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$46.02M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$25.51M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$22.03M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$2.43M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$3.16M	USD	Point-in-time
Related party notes payable	`NotesPayableRelatedPartiesNoncurrent`	$2.56M	USD	Point-in-time
Related party notes payable	`NotesPayableRelatedPartiesNoncurrent`	$2.56M	USD	Point-in-time
Purchase price obligations	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$1.76M	USD	Point-in-time
Purchase price obligations	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$2.52M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$727.00K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$1.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$84.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$75.53M	USD	Point-in-time
Contingencies and Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Contingencies and Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $0.001 - 35,000 shares authorized and 20,844 shares issued and outstanding at September 30, 2016 and 200,000 shares authorized and 15,964 shares issued and outstanding at December 31, 2015	`CommonStockValue`	$21.00K	USD	Point-in-time
Common stock, par value $0.001 - 35,000 shares authorized and 20,844 shares issued and outstanding at September 30, 2016 and 200,000 shares authorized and 15,964 shares issued and outstanding at December 31, 2015	`CommonStockValue`	$16.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$176.76M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$200.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-76.79M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-74.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$77.32M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$102.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$123.56M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$208.16M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$177.63M	USD	Point-in-time

Income Statement 61 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$37.73M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$85.31M	USD	3 Qtrs
Revenue	`SalesRevenueNet`	$50.17M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$120.88M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$25.55M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$56.88M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$34.30M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$82.61M	USD	3 Qtrs
Gross profit	`GrossProfit`	$38.26M	USD	3 Qtrs
Gross profit	`GrossProfit`	$12.19M	USD	1 Quarter
Gross profit	`GrossProfit`	$28.43M	USD	3 Qtrs
Gross profit	`GrossProfit`	$15.87M	USD	1 Quarter
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$3.13M	USD	3 Qtrs
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$1.47M	USD	3 Qtrs
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$718.00K	USD	1 Quarter
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$126.00K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$1.21M	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$4.50M	USD	3 Qtrs
Amortization and depreciation	`DepreciationAndAmortization`	$3.39M	USD	3 Qtrs
Amortization and depreciation	`DepreciationAndAmortization`	$1.63M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$919.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$462.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.08M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.49M	USD	3 Qtrs
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$10.56M	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$27.43M	USD	3 Qtrs
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$22.64M	USD	3 Qtrs
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$8.43M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.94M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.64M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$733.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$719.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$38.48M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$13.49M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$31.22M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$12.01M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$174.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-218.00K	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-2.79M	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$2.38M	USD	1 Quarter
Interest and other expenses	`InterestExpenseOther`	$1.90M	USD	3 Qtrs
Interest and other expenses	`InterestExpenseOther`	$747.00K	USD	1 Quarter
Interest and other expenses	`InterestExpenseOther`	$1.02M	USD	3 Qtrs
Interest and other expenses	`InterestExpenseOther`	$459.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.82M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-2.11M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-2.38M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$1.63M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-285.00K	USD	1 Quarter
Net income (loss) per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	3 Qtrs
Net income (loss) per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.08	USD	1 Quarter
Net income (loss) per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Net income (loss) per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.26	USD	3 Qtrs
Weighted average shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.54M	shares	3 Qtrs
Weighted average shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	20.49M	shares	1 Quarter
Weighted average shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	15.46M	shares	1 Quarter
Weighted average shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.52M	shares	3 Qtrs
Weighted average shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.52M	shares	3 Qtrs
Weighted average shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.46M	shares	1 Quarter
Weighted average shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.54M	shares	3 Qtrs
Weighted average shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.14M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.82M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.11M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.38M	USD	Annual
Net loss	`NetIncomeLoss`	$1.63M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-285.00K	USD	1 Quarter
Depreciation	`Depreciation`	$100.00K	USD	1 Quarter
Depreciation	`Depreciation`	$307.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$415.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$100.00K	USD	1 Quarter
Amortization of intangible and other assets	`AmortizationOfIntangibleAssetsAndOtherAssets`	$2.98M	USD	3 Qtrs
Amortization of intangible and other assets	`AmortizationOfIntangibleAssetsAndOtherAssets`	$4.20M	USD	3 Qtrs
Reacquired common stock issued for acquisitions	`ReacquiredCommonStockIssuedForAcquisition`	$547.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$919.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$462.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.08M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.49M	USD	3 Qtrs
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-69.00K	USD	3 Qtrs
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$739.00K	USD	3 Qtrs
Other noncash items affecting net loss	`OtherNoncashExpense`	$181.00K	USD	3 Qtrs
Increase in trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$8.29M	USD	3 Qtrs
Increase in trade accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$5.32M	USD	3 Qtrs
Increase in unbilled contracts receivable	`IncreaseDecreaseInUnbilledReceivables`	$2.93M	USD	3 Qtrs
Increase in inventories, net	`IncreaseDecreaseInInventories`	$2.96M	USD	3 Qtrs
Increase in inventories, net	`IncreaseDecreaseInInventories`	$1.72M	USD	3 Qtrs
Increase in prepaid and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.69M	USD	3 Qtrs
Increase in prepaid and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.51M	USD	3 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-82.00K	USD	3 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$77.00K	USD	3 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.64M	USD	3 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.34M	USD	3 Qtrs
Cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-17.80M	USD	3 Qtrs
Cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.07M	USD	3 Qtrs
Acquisition of business and other, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$10.25M	USD	3 Qtrs
Acquisition of business and other, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$10.41M	USD	3 Qtrs
Payment of acquisition obligations	`PaymentsToAcquireBusinessesGross`	$1.01M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$420.00K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$220.00K	USD	3 Qtrs
Proceeds from the sale of assets	`ProceedsFromSaleOfProductiveAssets`	$2.00K	USD	3 Qtrs
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-11.65M	USD	3 Qtrs
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-10.67M	USD	3 Qtrs
Proceeds from issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$15.20M	USD	Point-in-time
Proceeds from issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$9.53M	USD	3 Qtrs
Proceeds from issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$16.19M	USD	3 Qtrs
Proceeds from issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$15.20M	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$3.49M	USD	3 Qtrs
Net proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$14.10M	USD	3 Qtrs
Repayments of note payable	`RepaymentsOfNotesPayable`	$300.00K	USD	3 Qtrs
Repayments of note payable	`RepaymentsOfNotesPayable`	$270.00K	USD	3 Qtrs
Cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$19.41M	USD	3 Qtrs
Cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$23.32M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.15M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.69M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.91M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$219.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.03M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$882.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.91M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$219.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.03M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$882.00K	USD	Point-in-time
Contingent consideration and other	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$5.13M	USD	3 Qtrs
Issuance of stock	`StockIssued1`	$6.05M	USD	3 Qtrs
Issuance of stock	`StockIssued1`	$6.43M	USD	3 Qtrs
Deferred consideration for acquisition	`DeferredConsiderationOnBusinessAcquisition`	$500.00K	USD	3 Qtrs

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$77.32M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$102.10M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$123.56M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationPayments`	$2.19M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationPayments`	$949.00K	USD	3 Qtrs
Shares issued for contingent consideration	`StockIssuedDuringPeriodValueContingentConsiderations`	$5.84M	USD	Annual
Shares issued for acquisition	`StockIssuedDuringPeriodValueAcquisitions`	$10.18M	USD	Annual
Issuance of common stock for cash, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$16.19M	USD	3 Qtrs
Issuance of common stock for cash, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$9.51M	USD	Annual
Cancellation of reacquired escrowed common stock	`CancellationOfCommonStockHeldInEscrowInConnectionWithAcquisitionValue`	$547.00K	USD	Annual
Shares issued for contingent consideration and acquisition	`StockIssuedDuringPeriodValueContingentConsiderationsAndAcquisitions`	$6.43M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.82M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.11M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.38M	USD	Annual
Net loss	`NetIncomeLoss`	$1.63M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-285.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$77.32M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$102.10M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$123.56M	USD	Point-in-time

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