10-Q Filing

REVOLUTION LIGHTING TECHNOLOGIES, INC. CIK: 917523 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001193125-17-152862`
Period End Date	20170331
Filing Date	20170502
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	rvlt-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 29 Cash Flow Statement 45 Stockholders Equity 14

Balance Sheet 68 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`	35.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	35.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.29M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.89M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.94M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$219.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$883.00K	USD	Point-in-time
Trade receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$53.35M	USD	Point-in-time
Trade receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$46.16M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.89M	shares	Point-in-time
Unbilled contracts receivable	`UnbilledContractsReceivableCurrent`	$8.33M	USD	Point-in-time
Unbilled contracts receivable	`UnbilledContractsReceivableCurrent`	$10.17M	USD	Point-in-time
Inventories, net	`InventoryNet`	$30.28M	USD	Point-in-time
Inventories, net	`InventoryNet`	$26.68M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$8.95M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$8.36M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$94.88M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$99.44M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.53M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.47M	USD	Point-in-time
Goodwill	`Goodwill`	$72.07M	USD	Point-in-time
Goodwill	`Goodwill`	$72.07M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$43.81M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$42.41M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.32M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$704.00K	USD	Point-in-time
Total assets	`Assets`	$217.50M	USD	Point-in-time
Total assets	`Assets`	$212.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$27.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$32.41M	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$11.84M	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$10.54M	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$2.36M	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$2.36M	USD	Point-in-time
Related party notes payable	`NotesPayableRelatedPartiesClassifiedCurrent`	$1.50M	USD	Point-in-time
Related party notes payable	`NotesPayableRelatedPartiesClassifiedCurrent`	$1.50M	USD	Point-in-time
Purchase price obligations	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$1.33M	USD	Point-in-time
Purchase price obligations	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$2.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$48.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.04M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$25.99M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$40.81M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$12.07M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$2.01M	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`	$1.72M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$314.00K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$1.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$91.79M	USD	Point-in-time
Total liabilities	`Liabilities`	$90.74M	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 20,943 shares issued and outstanding at March 31, 2017 and 35,000 shares authorized and 20,893 shares issued and outstanding at December 31, 2016	`CommonStockValue`	$21.00K	USD	Point-in-time
Common stock, par value $0.001 - 35,000 shares authorized and 20,943 shares issued and outstanding at March 31, 2017 and 35,000 shares authorized and 20,893 shares issued and outstanding at December 31, 2016	`CommonStockValue`	$21.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$200.89M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$201.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-75.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-80.15M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$125.71M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$121.46M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$102.10M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$212.20M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$217.50M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$30.57M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$27.59M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$18.54M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$20.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.05M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.07M	USD	1 Quarter
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$1.14M	USD	1 Quarter
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$658.00K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$1.94M	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`	$1.12M	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$7.59M	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$10.09M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$422.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$631.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$14.23M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$11.10M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.15M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.05M	USD	1 Quarter
Interest expense and other charges	`InterestExpenseOther`	$563.00K	USD	1 Quarter
Interest expense and other charges	`InterestExpenseOther`	$802.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.62M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-522.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-4.96M	USD	1 Quarter
Loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	1 Quarter
Loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.60M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.15M	shares	1 Quarter

Cash Flow Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.62M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-522.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-4.96M	USD	1 Quarter
Depreciation	`Depreciation`	$100.00K	USD	1 Quarter
Depreciation	`Depreciation`	$126.00K	USD	1 Quarter
Amortization of intangible and other assets	`AmortizationOfIntangibleAssetsAndOtherAssets`	$1.81M	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`	$1.12M	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-785.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$377.00K	USD	1 Quarter
Other noncash items affecting net income	`OtherNoncashExpense`	$21.00K	USD	1 Quarter
(Increase) decrease in trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-5.12M	USD	1 Quarter
(Increase) decrease in trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-7.16M	USD	1 Quarter
(Increase) decrease in unbilled contracts receivable	`IncreaseDecreaseInUnbilledReceivables`	$-1.84M	USD	1 Quarter
(Increase) decrease in unbilled contracts receivable	`IncreaseDecreaseInUnbilledReceivables`	$-1.06M	USD	1 Quarter
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$3.73M	USD	1 Quarter
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$3.57M	USD	1 Quarter
(Increase) decrease in prepaid and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.55M	USD	1 Quarter
(Increase) decrease in prepaid and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$222.00K	USD	1 Quarter
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.64M	USD	1 Quarter
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-5.43M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.21M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$93.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$46.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$231.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-46.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-231.00K	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$14.82M	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$1.14M	USD	1 Quarter
Repayments of notes payable and short-term borrowings	`ProceedsFromRepaymentsOfShortTermBankLoansAndNotesPayable`	$-60.00K	USD	1 Quarter
Repayments of notes payable and short-term borrowings	`ProceedsFromRepaymentsOfShortTermBankLoansAndNotesPayable`	$-10.09M	USD	1 Quarter
Fees pertaining to issuance of common stock	`PaymentsOfStockIssuanceCosts`	$60.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.73M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.02M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$286.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.07M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.29M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	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`	$883.00K	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`	$1.17M	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`	$883.00K	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$125.71M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$121.46M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$102.10M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationPayments`	$1.31M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationPayments`	$521.00K	USD	1 Quarter
Issuance of common stock for cash, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$16.19M	USD	Annual
Shares issued for contingent consideration	`StockIssuedDuringPeriodValueContingentConsiderations`	$184.00K	USD	1 Quarter
Shares issued for contingent consideration and acquisition	`StockIssuedDuringPeriodValueContingentConsiderationsAndAcquisitions`	$6.63M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.62M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-522.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-4.96M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$125.71M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$121.46M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$102.10M	USD	Point-in-time

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