10-Q Filing

ENERGY FOCUS, INC/DE CIK: 924168 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001437749-15-008888`
Period End Date	20150331
Filing Date	20150505
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	efoi-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 43 Cash Flow Statement 51 Stockholders Equity 11 Comprehensive Income 6

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowances (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$323.00K	USD	Point-in-time
Trade accounts receivable, allowances (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$296.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.87M	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.86M	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.53M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Trade accounts receivable less allowances of $296 and $323, respectively	`AccountsReceivableNetCurrent`	$3.11M	USD	Point-in-time
Trade accounts receivable less allowances of $296 and $323, respectively	`AccountsReceivableNetCurrent`	$3.13M	USD	Point-in-time
Inventories, net	`InventoryNet`	$7.28M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$10.83M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$991.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.00M	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.81M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.93M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	15.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$539.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	15.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$479.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.42M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$86.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.01M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$88.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.42M	shares	Point-in-time
Total assets	`Assets`	$24.44M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.01M	shares	Point-in-time
Total assets	`Assets`	$19.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.06M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.21M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Accrued warranty reserve	`ProductWarrantyAccrualClassifiedCurrent`	$188.00K	USD	Point-in-time
Accrued warranty reserve	`ProductWarrantyAccrualClassifiedCurrent`	$503.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$133.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$236.00K	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$23.00K	USD	Point-in-time
Credit line borrowings	`LinesOfCreditCurrent`	$1.73M	USD	Point-in-time
Credit line borrowings	`LinesOfCreditCurrent`	$453.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.74M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.61M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$46.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$89.00K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$70.00K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$70.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$9.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.90M	USD	Point-in-time
Issued and outstanding: no shares in 2015 and 2014	`PreferredStockValue`	-	USD	Point-in-time
Issued and outstanding: no shares in 2015 and 2014	`PreferredStockValue`	-	USD	Point-in-time
9,423,975 at December 31, 2014	`CommonStockValue`	$1.00K	USD	Point-in-time
9,423,975 at December 31, 2014	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$100.74M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$98.13M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$496.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$469.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-87.70M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-88.83M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$13.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.77M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$24.44M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$19.50M	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$4.92M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$13.14M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.50M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$7.74M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.42M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.40M	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$543.00K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$191.00K	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$2.30M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$3.62M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.50M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.17M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$1.24M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-1.07M	USD	1 Quarter
Interest expense	`InterestExpense`	$23.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.62M	USD	1 Quarter
Other expenses	`OtherNonoperatingExpense`	$360.00K	USD	1 Quarter
Other expenses	`OtherNonoperatingExpense`	$57.00K	USD	1 Quarter
Income (loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.05M	USD	1 Quarter
Income (loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.16M	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-10.00K	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-1.00K	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$1.17M	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-4.05M	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-20.00K	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-36.00K	USD	1 Quarter
Loss on sale of discontinued operations	`DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax`	$-36.00K	USD	1 Quarter
Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax`	$-36.00K	USD	1 Quarter
Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax`	$-20.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-4.07M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.13M	USD	1 Quarter
Income (loss) from continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.79	USD	1 Quarter
Income (loss) from continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.12	USD	1 Quarter
Net income (loss) per share - basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.79	USD	1 Quarter
Net income (loss) per share - basic (in Dollars per share)	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
Income (loss) from continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.11	USD	1 Quarter
Income (loss) from continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.79	USD	1 Quarter
Net income (loss) per share - diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Net income (loss) per share - diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.79	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.17M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.67M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.17M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.99M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-4.07M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.13M	USD	1 Quarter
Depreciation	`Depreciation`	$52.00K	USD	1 Quarter
Depreciation	`Depreciation`	$57.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$112.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$123.00K	USD	1 Quarter
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$99.00K	USD	1 Quarter
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$-6.00K	USD	1 Quarter
Amortization of discounts on long-term borrowings and acquisition related liabilities	`AmortizationOfDebtDiscountPremium`	$2.81M	USD	1 Quarter
Amortization of loan origination fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-11.00K	USD	1 Quarter
Amortization of loan origination fees	`AmortizationOfDeferredLoanOriginationFeesNet`	$-55.00K	USD	1 Quarter
Trade accounts receivable, inventories, and other assets	`IncreaseDecreaseInOperatingAssets`	$3.68M	USD	1 Quarter
Trade accounts receivable, inventories, and other assets	`IncreaseDecreaseInOperatingAssets`	$-1.02M	USD	1 Quarter
Accounts payable, accrued liabilities, and accrued warranty reserve	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.69M	USD	1 Quarter
Accounts payable, accrued liabilities, and accrued warranty reserve	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-124.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-410.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$81.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.98M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-3.45M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.32M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.09M	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSalesOfAssetsInvestingActivities`	$130.00K	USD	1 Quarter
Acquisitions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$37.00K	USD	1 Quarter
Acquisitions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$112.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-112.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$93.00K	USD	1 Quarter
Proceeds from warrants exercised	`ProceedsFromWarrantExercises`	$2.49M	USD	1 Quarter
Proceeds from exercise of stock options and purchases through employee stock purchase plan	`ProceedsFromStockOptionsExercised`	$1.00K	USD	1 Quarter
Proceeds from exercise of stock options and purchases through employee stock purchase plan	`ProceedsFromStockOptionsExercised`	$2.00K	USD	1 Quarter
Payments on other borrowings	`RepaymentsOfOtherDebt`	$14.00K	USD	1 Quarter
Net proceeds on credit line borrowings	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.11M	USD	1 Quarter
Net proceeds on credit line borrowings	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.27M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.77M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.10M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.34M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-900.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.96M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.87M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.86M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.53M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.96M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.87M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.86M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.53M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.96M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.87M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.86M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.53M	USD	Point-in-time
Conversion of subordinated convertible debt to equity, net of discount amortization	`DebtConversionConvertedInstrumentAmount1`	$3.86M	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$13.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.77M	USD	Point-in-time
Issuance of common stock under employee stock option and stock purchase plans	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$2.00K	USD	1 Quarter
Stock-based compensation - options and restricted stock units	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$112.00K	USD	1 Quarter
Issuance of common stock upon the exercise of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantExercised`	$2.49M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$2.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$27.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$-4.07M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.13M	USD	1 Quarter
Balance	`StockholdersEquity`	$13.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.77M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-4.07M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.13M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$2.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$27.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$1.16M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-4.07M	USD	1 Quarter

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