10-Q Filing

GENASYS INC. CIK: 924383 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001437749-17-001924`
Period End Date	20161231
Filing Date	20170208
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	lrad-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 33 Cash Flow Statement 52 Comprehensive Income 8

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.47M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.58M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$3.11M	USD	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$2.94M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.48M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$3.41M	USD	Point-in-time
Inventories, net	`InventoryNet`	$4.76M	USD	Point-in-time
Inventories, net	`InventoryNet`	$5.09M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$515.26K	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$595.64K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.16M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.17M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	31.80M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	31.80M	shares	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$1.92M	USD	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$2.19M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	31.80M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	31.80M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$8.53M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$9.01M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$473.34K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$456.52K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$62.80K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$62.91K	USD	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssetsNoncurrent`	$391.45K	USD	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssetsNoncurrent`	$344.58K	USD	Point-in-time
Total assets	`Assets`	$36.81M	USD	Point-in-time
Total assets	`Assets`	$36.96M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$574.57K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.07M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.50M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.08M	USD	Point-in-time
Other liabilities, noncurrent	`OtherLiabilitiesNoncurrent`	$165.04K	USD	Point-in-time
Other liabilities, noncurrent	`OtherLiabilitiesNoncurrent`	$139.16K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.24M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.74M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.00001 par value; 50,000,000 shares authorized; 31,800,103 shares issued and outstanding	`CommonStockValue`	$318.00	USD	Point-in-time
Common stock, $0.00001 par value; 50,000,000 shares authorized; 31,800,103 shares issued and outstanding	`CommonStockValue`	$318.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$86.93M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$86.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-52.71M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-51.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.86K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.55K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$34.22M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$34.57M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$36.96M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$36.81M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$2.70M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$2.56M	USD	1 Quarter
Contract and other	`SalesRevenueServicesNet`	$257.73K	USD	1 Quarter
Contract and other	`SalesRevenueServicesNet`	$239.38K	USD	1 Quarter
Total revenues	`Revenues`	$2.82M	USD	1 Quarter
Total revenues	`Revenues`	$2.94M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.52M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.72M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.22M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.97M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.46M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$561.20K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$587.41K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.55M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.02M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-722.93K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.33M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$33.26K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$30.13K	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-689.67K	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.30M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-486.53K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-309.60K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-812.68K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-380.07K	USD	1 Quarter
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Weighted average common shares outstanding: - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	31.80M	shares	1 Quarter
Weighted average common shares outstanding: - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.46M	shares	1 Quarter
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.01	USD	Point-in-time
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.01	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-812.68K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-380.07K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$56.88K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$32.51K	USD	1 Quarter
Warranty provision	`ProductWarrantyExpenseBenefit`	$-22.27K	USD	1 Quarter
Warranty provision	`ProductWarrantyExpenseBenefit`	$9.70K	USD	1 Quarter
Inventory obsolescence	`InventoryObsolescenceWriteDownRecoveries`	$24.00	USD	1 Quarter
Inventory obsolescence	`InventoryObsolescenceWriteDownRecoveries`	$6.08K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$464.75K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$147.94K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-311.19K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-486.53K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-174.34K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.93M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$294.43K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$327.68K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-80.38K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-118.03K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-46.87K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-46.87K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$500.04K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-226.06K	USD	1 Quarter
Payroll and related	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$180.77K	USD	1 Quarter
Payroll and related	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$1.46K	USD	1 Quarter
Warranty settlements	`IncreaseDecreaseInWarrantySettlements`	$972.00	USD	1 Quarter
Warranty settlements	`IncreaseDecreaseInWarrantySettlements`	$12.74K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-176.88K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$289.24K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-394.14K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.43M	USD	1 Quarter
Sales (purchases) of marketable securities	`PaymentsForProceedsFromInvestments`	$623.60K	USD	1 Quarter
Sales (purchases) of marketable securities	`PaymentsForProceedsFromInvestments`	$-84.61K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.86K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$71.15K	USD	1 Quarter
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$1.72K	USD	1 Quarter
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$1.21K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$69.03K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-695.96K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.64M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.64M	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.73M	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.50M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.32M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.47M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.58M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.32M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.47M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.58M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-812.68K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-380.07K	USD	1 Quarter
Unrealized loss on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-6.31K	USD	1 Quarter
Unrealized loss on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-4.21K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-4.21K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-6.31K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-818.99K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-384.28K	USD	1 Quarter

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