10-Q Filing

REVOLUTION LIGHTING TECHNOLOGIES, INC. CIK: 917523 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001193125-18-145203`
Period End Date	20180331
Filing Date	20180501
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	rvlt-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 29 Cash Flow Statement 43 Stockholders Equity 13

Balance Sheet 67 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
Common stock, issued	`CommonStockSharesIssued`	22.36M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	21.35M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$883.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$945.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.44M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$29.75M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$34.97M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	21.35M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	22.36M	shares	Point-in-time
Unbilled contracts receivable	`UnbilledContractsReceivableCurrent`	$6.08M	USD	Point-in-time
Unbilled contracts receivable	`UnbilledContractsReceivableCurrent`	$6.56M	USD	Point-in-time
Inventories, net	`InventoryNet`	$27.28M	USD	Point-in-time
Inventories, net	`InventoryNet`	$26.16M	USD	Point-in-time
Vendor deposits, prepaid expenses and other	`PrepaidExpensesDepositsAndOtherCurrentAssets`	$9.51M	USD	Point-in-time
Vendor deposits, prepaid expenses and other	`PrepaidExpensesDepositsAndOtherCurrentAssets`	$10.42M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$77.67M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$75.43M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.60M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.12M	USD	Point-in-time
Goodwill	`Goodwill`	$61.51M	USD	Point-in-time
Goodwill	`Goodwill`	$61.51M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$27.52M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$28.37M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.08M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.05M	USD	Point-in-time
Total assets	`Assets`	$167.64M	USD	Point-in-time
Total assets	`Assets`	$170.23M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$24.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$28.83M	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$9.82M	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$11.57M	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$1.80M	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$1.89M	USD	Point-in-time
Related party notes payable	`NotesPayableRelatedPartiesClassifiedCurrent`	$1.20M	USD	Point-in-time
Related party notes payable	`NotesPayableRelatedPartiesClassifiedCurrent`	$1.00M	USD	Point-in-time
Purchase price obligations	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$130.00K	USD	Point-in-time
Purchase price obligations	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$130.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$43.33M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$40.06M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$38.63M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$270.00K	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$180.00K	USD	Point-in-time
Related party notes payable	`NotesPayableRelatedPartiesNoncurrent`	$11.72M	USD	Point-in-time
Related party notes payable	`NotesPayableRelatedPartiesNoncurrent`	$11.72M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$419.00K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$375.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$89.98M	USD	Point-in-time
Total liabilities	`Liabilities`	$94.37M	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 22,364 shares issued and outstanding at March 31, 2018 and 35,000 shares authorized and 21,352 shares issued and outstanding at December 31, 2017	`CommonStockValue`	$21.00K	USD	Point-in-time
Common stock, par value $0.001 - 35,000 shares authorized and 22,364 shares issued and outstanding at March 31, 2018 and 35,000 shares authorized and 21,352 shares issued and outstanding at December 31, 2017	`CommonStockValue`	$22.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$204.94M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$208.93M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-129.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-131.29M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$77.66M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$75.86M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$125.71M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$170.23M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$167.64M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$30.57M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$33.74M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$20.50M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$22.24M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.07M	USD	1 Quarter
Gross profit	`GrossProfit`	$11.50M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$10.09M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$10.10M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$818.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$422.00K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$1.94M	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$1.00M	USD	1 Quarter
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$658.00K	USD	1 Quarter
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$169.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$673.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.12M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$14.23M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.76M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.15M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.26M	USD	1 Quarter
Interest expense and other charges	`InterestExpenseOther`	$802.00K	USD	1 Quarter
Interest expense and other charges	`InterestExpenseOther`	$932.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-53.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.96M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.19M	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.60M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.82M	shares	1 Quarter

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-53.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.96M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.19M	USD	1 Quarter
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$1.94M	USD	1 Quarter
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$1.37M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$673.00K	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
Other noncash items affecting net income	`OtherNoncashIncomeExpense`	$-21.00K	USD	1 Quarter
Other noncash items affecting net income	`OtherNoncashIncomeExpense`	$-86.00K	USD	1 Quarter
(Increase) decrease in trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-5.23M	USD	1 Quarter
(Increase) decrease in trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-7.16M	USD	1 Quarter
(Increase) decrease in unbilled contracts receivable	`IncreaseDecreaseInUnbilledReceivables`	$474.00K	USD	1 Quarter
(Increase) decrease in unbilled contracts receivable	`IncreaseDecreaseInUnbilledReceivables`	$-1.84M	USD	1 Quarter
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$1.11M	USD	1 Quarter
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$3.57M	USD	1 Quarter
(Increase) decrease in prepaid and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.71M	USD	1 Quarter
(Increase) decrease in prepaid and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.55M	USD	1 Quarter
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-6.31M	USD	1 Quarter
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-5.43M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.21M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.44M	USD	1 Quarter
Purchase of property and equipment and other	`PaymentsToAcquirePropertyPlantAndEquipment`	$231.00K	USD	1 Quarter
Purchase of property and equipment and other	`PaymentsToAcquirePropertyPlantAndEquipment`	$292.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-231.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-292.00K	USD	1 Quarter
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.60M	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$14.82M	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$1.43M	USD	1 Quarter
Net proceeds from related party notes payable	`ProceedsFromRelatedPartyDebt`	$200.00K	USD	1 Quarter
Repayments of notes payable and short-term borrowings	`ProceedsFromRepaymentsOfShortTermBankLoansAndNotesPayable`	$-10.09M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.23M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.73M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$494.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$286.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$883.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$945.00K	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`	$1.44M	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`	$945.00K	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`	$1.44M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$77.66M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$75.86M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$125.71M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationPayments`	$2.86M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationPayments`	$385.00K	USD	1 Quarter
Shares issued for contingent consideration	`StockIssuedDuringPeriodValueContingentConsiderations`	$1.20M	USD	Annual
Issuance of common stock for cash, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$3.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-53.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.96M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.19M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$77.66M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$75.86M	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.