10-Q Filing

REVOLUTION LIGHTING TECHNOLOGIES, INC. CIK: 917523 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001193125-18-246273`
Period End Date	20180630
Filing Date	20180813
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	rvlt-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 57 Cash Flow Statement 49 Stockholders Equity 15

Balance Sheet 64 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`	$457.00K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	21.35M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	22.42M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$945.00K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	22.42M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	21.35M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$34.96M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$34.97M	USD	Point-in-time
Unbilled contracts receivable	`UnbilledContractsReceivableCurrent`	$6.08M	USD	Point-in-time
Unbilled contracts receivable	`UnbilledContractsReceivableCurrent`	$6.81M	USD	Point-in-time
Inventories, net	`InventoryNet`	$26.16M	USD	Point-in-time
Inventories, net	`InventoryNet`	$26.71M	USD	Point-in-time
Vendor deposits, prepaid expenses and other	`PrepaidExpensesDepositsAndOtherCurrentAssets`	$9.55M	USD	Point-in-time
Vendor deposits, prepaid expenses and other	`PrepaidExpensesDepositsAndOtherCurrentAssets`	$9.51M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$78.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$77.67M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.05M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.60M	USD	Point-in-time
Goodwill	`Goodwill`	$61.51M	USD	Point-in-time
Goodwill	`Goodwill`	$61.51M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$27.16M	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`	$999.00K	USD	Point-in-time
Total assets	`Assets`	$170.23M	USD	Point-in-time
Total assets	`Assets`	$170.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$23.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$28.83M	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$11.57M	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$7.99M	USD	Point-in-time
Acquisition payable	`AccountsPayableTradeCurrent`	$510.00K	USD	Point-in-time
Acquisition payable	`AccountsPayableTradeCurrent`	$1.80M	USD	Point-in-time
Related party notes payable	`NotesPayableRelatedPartiesClassifiedCurrent`	$1.00M	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
Total current liabilities	`LiabilitiesCurrent`	$43.33M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$32.98M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$42.11M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$38.63M	USD	Point-in-time
Acquisition payable	`AccountsPayableTradeNoncurrent`	$270.00K	USD	Point-in-time
Acquisition payable	`AccountsPayableTradeNoncurrent`	$1.33M	USD	Point-in-time
Related party notes payable	`NotesPayableRelatedPartiesNoncurrent`	$17.73M	USD	Point-in-time
Related party notes payable	`NotesPayableRelatedPartiesNoncurrent`	$11.72M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$244.00K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$419.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$94.38M	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 22,418 shares issued and outstanding at June 30, 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 22,418 shares issued and outstanding at June 30, 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`	$209.30M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$204.94M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-129.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-133.49M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$75.83M	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`	$170.22M	USD	Point-in-time

Income Statement 57 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$43.38M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$70.18M	USD	2 Qtrs
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$73.94M	USD	2 Qtrs
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$36.44M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$49.62M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$29.13M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$46.91M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$24.67M	USD	1 Quarter
Gross profit	`GrossProfit`	$24.32M	USD	2 Qtrs
Gross profit	`GrossProfit`	$11.78M	USD	1 Quarter
Gross profit	`GrossProfit`	$23.27M	USD	2 Qtrs
Gross profit	`GrossProfit`	$14.25M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$9.59M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$19.68M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$10.37M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$20.46M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.12M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$694.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$934.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.75M	USD	2 Qtrs
Amortization and depreciation	`DepreciationAndAmortization`	$1.05M	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$1.79M	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$3.73M	USD	2 Qtrs
Amortization and depreciation	`DepreciationAndAmortization`	$2.05M	USD	2 Qtrs
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$790.00K	USD	1 Quarter
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$1.54M	USD	2 Qtrs
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$959.00K	USD	2 Qtrs
Acquisition, severance and transition costs	`BusinessCombinationIntegrationRelatedCosts`	$883.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$478.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.60M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.20M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$522.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$28.44M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$12.88M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$25.64M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$14.22M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-1.10M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-4.12M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-2.36M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$32.00K	USD	1 Quarter
Interest expense and other charges	`InterestExpenseOther`	$1.56M	USD	2 Qtrs
Interest expense and other charges	`InterestExpenseOther`	$759.00K	USD	1 Quarter
Interest expense and other charges	`InterestExpenseOther`	$1.09M	USD	1 Quarter
Interest expense and other charges	`InterestExpenseOther`	$2.03M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.68M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-53.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-727.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.39M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.20M	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.27	USD	2 Qtrs
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.20	USD	2 Qtrs
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.68M	shares	2 Qtrs
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.76M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.23M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.03M	shares	2 Qtrs

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-4.39M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-5.68M	USD	2 Qtrs
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$2.83M	USD	2 Qtrs
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$3.73M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$478.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.60M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.20M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$522.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-1.65M	USD	2 Qtrs
Other noncash items affecting net income	`OtherNoncashIncomeExpense`	$-186.00K	USD	2 Qtrs
Other noncash items affecting net income	`OtherNoncashIncomeExpense`	$103.00K	USD	2 Qtrs
(Increase) decrease in trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-9.00K	USD	2 Qtrs
(Increase) decrease in trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-2.68M	USD	2 Qtrs
(Increase) decrease in unbilled contracts receivable	`IncreaseDecreaseInUnbilledReceivables`	$730.00K	USD	2 Qtrs
(Increase) decrease in unbilled contracts receivable	`IncreaseDecreaseInUnbilledReceivables`	$-3.91M	USD	2 Qtrs
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$542.00K	USD	2 Qtrs
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$4.56M	USD	2 Qtrs
(Increase) decrease in prepaid and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.99M	USD	2 Qtrs
(Increase) decrease in prepaid and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.51M	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-8.25M	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-6.38M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-11.21M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.44M	USD	2 Qtrs
Payment of acquisition obligations	`PaymentsToAcquireBusinessesGross`	$137.00K	USD	2 Qtrs
Payment of acquisition obligations	`PaymentsToAcquireBusinessesGross`	$284.00K	USD	2 Qtrs
Purchase of property and equipment and other	`PaymentsToAcquirePropertyPlantAndEquipment`	$652.00K	USD	2 Qtrs
Purchase of property and equipment and other	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.40M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.54M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-936.00K	USD	2 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.60M	USD	2 Qtrs
Net proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$12.75M	USD	2 Qtrs
Net proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$3.47M	USD	2 Qtrs
Net proceeds from related party notes payable	`ProceedsFromRelatedPartyDebt`	$7.00M	USD	2 Qtrs
Net proceeds from related party notes payable	`ProceedsFromRelatedPartyDebt`	$5.28M	USD	2 Qtrs
Repayments of notes payable and short-term borrowings	`ProceedsFromRepaymentsOfShortTermBankLoansAndNotesPayable`	$-10.18M	USD	2 Qtrs
Repayments of notes payable and short-term borrowings	`ProceedsFromRepaymentsOfShortTermBankLoansAndNotesPayable`	$-90.00K	USD	2 Qtrs
Fees pertaining to issuance of debt	`PaymentsOfFinancingCosts`	$603.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.26M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.96M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-488.00K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-408.00K	USD	2 Qtrs
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$883.00K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$457.00K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$475.00K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$945.00K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$883.00K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$457.00K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$475.00K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$945.00K	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$75.83M	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`	$759.00K	USD	2 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationPayments`	$2.86M	USD	Annual
Shares issued for contingent consideration	`StockIssuedDuringPeriodValueContingentConsiderations`	$1.20M	USD	Annual
Issuance of common stock for cash, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$3.60M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.68M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-53.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-727.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.39M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.20M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$75.83M	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.