10-Q Filing

REVOLUTION LIGHTING TECHNOLOGIES, INC. CIK: 917523 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001193125-17-320021`
Period End Date	20170930
Filing Date	20171026
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	rvlt-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 61 Cash Flow Statement 57 Stockholders Equity 16

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`	$883.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.91M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.89M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$219.00K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	21.26M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$917.00K	USD	Point-in-time
Trade receivables, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$47.97M	USD	Point-in-time
Trade receivables, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$53.35M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	21.26M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.89M	shares	Point-in-time
Unbilled contracts receivable	`UnbilledContractsReceivableCurrent`	$5.51M	USD	Point-in-time
Unbilled contracts receivable	`UnbilledContractsReceivableCurrent`	$10.17M	USD	Point-in-time
Inventories, net	`InventoryNet`	$26.68M	USD	Point-in-time
Inventories, net	`InventoryNet`	$33.64M	USD	Point-in-time
Vendor deposits, prepaid expenses and other	`PrepaidExpensesDepositsAndOtherCurrentAssets`	$12.09M	USD	Point-in-time
Vendor deposits, prepaid expenses and other	`PrepaidExpensesDepositsAndOtherCurrentAssets`	$8.36M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$99.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$100.12M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.47M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.80M	USD	Point-in-time
Goodwill	`Goodwill`	$72.21M	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`	$39.82M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$704.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$979.00K	USD	Point-in-time
Total assets	`Assets`	$217.50M	USD	Point-in-time
Total assets	`Assets`	$214.94M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$26.45M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$32.41M	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$10.54M	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$11.64M	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`	$1.00M	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`	$168.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$41.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$48.14M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$40.66M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$25.99M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$1.80M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$12.07M	USD	Point-in-time
Related party notes payable	`NotesPayableRelatedPartiesNoncurrent`	$9.56M	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`	$325.00K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$1.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$93.96M	USD	Point-in-time
Total liabilities	`Liabilities`	$91.79M	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 21,262 shares issued and outstanding at September 30, 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 21,262 shares issued and outstanding at September 30, 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`	$204.35M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-83.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-75.19M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$102.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$120.97M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$125.71M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$217.50M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$214.94M	USD	Point-in-time

Income Statement 61 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$43.08M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$50.17M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$117.03M	USD	3 Qtrs
Revenue	`SalesRevenueNet`	$120.88M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$34.30M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$82.61M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$29.21M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$78.83M	USD	3 Qtrs
Gross profit	`GrossProfit`	$38.26M	USD	3 Qtrs
Gross profit	`GrossProfit`	$15.87M	USD	1 Quarter
Gross profit	`GrossProfit`	$13.88M	USD	1 Quarter
Gross profit	`GrossProfit`	$38.20M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$10.56M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$11.02M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$31.48M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$27.43M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.07M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.66M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$719.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.94M	USD	3 Qtrs
Amortization and depreciation	`DepreciationAndAmortization`	$4.50M	USD	3 Qtrs
Amortization and depreciation	`DepreciationAndAmortization`	$1.63M	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$1.53M	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$4.79M	USD	3 Qtrs
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$126.00K	USD	1 Quarter
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$2.77M	USD	3 Qtrs
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$3.13M	USD	3 Qtrs
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$1.23M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.20M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$462.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$601.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.49M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$13.49M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$38.48M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$43.90M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$15.45M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-1.58M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-5.70M	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-218.00K	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$2.38M	USD	1 Quarter
Interest expense and other charges	`InterestExpenseOther`	$2.50M	USD	3 Qtrs
Interest expense and other charges	`InterestExpenseOther`	$1.90M	USD	3 Qtrs
Interest expense and other charges	`InterestExpenseOther`	$943.00K	USD	1 Quarter
Interest expense and other charges	`InterestExpenseOther`	$747.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.52M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.11M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-522.00K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$1.63M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-8.20M	USD	3 Qtrs
Income (loss) per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.39	USD	3 Qtrs
Income (loss) per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	3 Qtrs
Income (loss) per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.08	USD	1 Quarter
Income (loss) per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Weighted average shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.52M	shares	3 Qtrs
Weighted average shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	20.77M	shares	3 Qtrs
Weighted average shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	20.94M	shares	1 Quarter
Weighted average shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	20.49M	shares	1 Quarter
Weighted average shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.77M	shares	3 Qtrs
Weighted average shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.14M	shares	1 Quarter
Weighted average shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.94M	shares	1 Quarter
Weighted average shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.52M	shares	3 Qtrs

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.52M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.11M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-522.00K	USD	Annual
Net loss	`NetIncomeLoss`	$1.63M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.20M	USD	3 Qtrs
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$5.81M	USD	3 Qtrs
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$4.50M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.20M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$462.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$601.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.49M	USD	3 Qtrs
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-1.60M	USD	3 Qtrs
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-69.00K	USD	3 Qtrs
Other noncash items affecting net income	`OtherNoncashIncomeExpense`	$-181.00K	USD	3 Qtrs
Other noncash items affecting net income	`OtherNoncashIncomeExpense`	$62.00K	USD	3 Qtrs
(Increase) decrease in trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-5.38M	USD	3 Qtrs
(Increase) decrease in trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$5.32M	USD	3 Qtrs
(Increase) decrease in unbilled contracts receivable	`IncreaseDecreaseInUnbilledReceivables`	$-4.66M	USD	3 Qtrs
(Increase) decrease in unbilled contracts receivable	`IncreaseDecreaseInUnbilledReceivables`	$2.93M	USD	3 Qtrs
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$1.72M	USD	3 Qtrs
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$6.96M	USD	3 Qtrs
(Increase) decrease in Vendor deposits, prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.42M	USD	3 Qtrs
(Increase) decrease in Vendor deposits, prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.26M	USD	3 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-5.57M	USD	3 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.34M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-9.62M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.07M	USD	3 Qtrs
Payment of acquisition obligations	`PaymentsToAcquireBusinessesGross`	$1.01M	USD	3 Qtrs
Payment of acquisition obligations	`PaymentsToAcquireBusinessesGross`	$284.00K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$220.00K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$961.00K	USD	3 Qtrs
Acquisition of business and other, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$10.41M	USD	3 Qtrs
Proceeds from the sale of assets	`ProceedsFromSaleOfProductiveAssets`	$2.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-11.65M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.25M	USD	3 Qtrs
Net proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$14.67M	USD	3 Qtrs
Net proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$3.49M	USD	3 Qtrs
Net proceeds from related party notes payable	`ProceedsFromRelatedPartyDebt`	$7.00M	USD	3 Qtrs
Repayments of notes payable and short-term borrowings	`ProceedsFromRepaymentsOfShortTermBankLoansAndNotesPayable`	$-270.00K	USD	3 Qtrs
Repayments of notes payable and short-term borrowings	`ProceedsFromRepaymentsOfShortTermBankLoansAndNotesPayable`	$-10.27M	USD	3 Qtrs
Repayments of related party notes payable	`RepaymentsOfRelatedPartyDebt`	$500.00K	USD	3 Qtrs
Proceeds from issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$16.19M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$19.41M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$10.90M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.69M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$34.00K	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$883.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.91M	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`	$917.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$883.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.91M	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`	$917.00K	USD	Point-in-time
Issuance of common stock for contingent consideration	`StockIssued1`	$6.43M	USD	3 Qtrs
Issuance of common stock for contingent consideration	`StockIssued1`	$989.00K	USD	3 Qtrs
Contingent consideration and other	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$5.13M	USD	3 Qtrs

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$102.10M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$120.97M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$125.71M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationPayments`	$2.48M	USD	3 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationPayments`	$1.31M	USD	Annual
Issuance of common stock for cash, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$16.19M	USD	Annual
Shares issued for contingent consideration	`StockIssuedDuringPeriodValueContingentConsiderations`	$989.00K	USD	3 Qtrs
Shares issued for contingent consideration and acquisition	`StockIssuedDuringPeriodValueContingentConsiderationsAndAcquisitions`	$6.63M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.52M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.11M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-522.00K	USD	Annual
Net loss	`NetIncomeLoss`	$1.63M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.20M	USD	3 Qtrs
Ending Balance	`StockholdersEquity`	$102.10M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$120.97M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$125.71M	USD	Point-in-time

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