10-Q Filing

GENASYS INC. CIK: 924383 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001437749-18-002109`
Period End Date	20171231
Filing Date	20180209
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	lrad-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 30 Cash Flow Statement 52 Comprehensive Income 8

Balance Sheet 64 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.47M	USD	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
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.12M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.80M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$3.60M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$4.36M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.68M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.68M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$5.26M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Inventories, net	`InventoryNet`	$5.26M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$983.32K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$589.56K	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	32.25M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	32.16M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$29.09M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$30.25M	USD	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$1.01M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	32.25M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	32.16M	shares	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$711.12K	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$5.62M	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$8.33M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$505.47K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$509.60K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$55.69K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$53.88K	USD	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssetsNoncurrent`	$117.64K	USD	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssetsNoncurrent`	$164.52K	USD	Point-in-time
Total assets	`Assets`	$37.55M	USD	Point-in-time
Total assets	`Assets`	$38.86M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.11M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.56M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.67M	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; 32,249,288 and 32,158,436 shares issued and outstanding, respectively	`CommonStockValue`	$322.00	USD	Point-in-time
Common stock, $0.00001 par value; 50,000,000 shares authorized; 32,249,288 and 32,158,436 shares issued and outstanding, respectively	`CommonStockValue`	$322.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$87.96M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$88.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-52.77M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-54.46M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-9.30K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.27K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$35.18M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$33.79M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$37.55M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$38.86M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$7.34M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$2.70M	USD	1 Quarter
Contract and other	`SalesRevenueServicesNet`	$292.54K	USD	1 Quarter
Contract and other	`SalesRevenueServicesNet`	$239.38K	USD	1 Quarter
Total revenues	`Revenues`	$2.94M	USD	1 Quarter
Total revenues	`Revenues`	$7.63M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.72M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$3.67M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.22M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.96M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.19M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.97M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$587.41K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$778.04K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.55M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.97M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$991.11K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-1.33M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$34.53K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$30.13K	USD	1 Quarter
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.30M	USD	1 Quarter
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.03M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$2.71M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-486.53K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.68M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-812.68K	USD	1 Quarter
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Weighted average common shares outstanding: - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.24M	shares	1 Quarter
Weighted average common shares outstanding: - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	31.80M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.68M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-812.68K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$32.51K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$60.10K	USD	1 Quarter
Warranty provision	`ProductWarrantyExpenseBenefit`	$9.70K	USD	1 Quarter
Warranty provision	`ProductWarrantyExpenseBenefit`	$12.36K	USD	1 Quarter
Inventory obsolescence	`InventoryObsolescenceWriteDownRecoveries`	$40.30K	USD	1 Quarter
Inventory obsolescence	`InventoryObsolescenceWriteDownRecoveries`	$24.00	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$464.75K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$138.46K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-486.53K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$2.71M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.93M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.66K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$43.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$327.68K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-393.76K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-80.38K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-46.87K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-46.87K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$790.63K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$500.04K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-715.21K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-8.86K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.43M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.75M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$1.67M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$1.47M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$1.56M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$2.13M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$54.17K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.86K	USD	1 Quarter
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$1.72K	USD	1 Quarter
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$400.55K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$69.03K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$159.52K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$159.52K	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.50M	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.31M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.47M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.12M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.80M	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`	$14.96M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.12M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.80M	USD	Point-in-time
Change in unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$8.03K	USD	1 Quarter
Change in unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$6.31K	USD	1 Quarter

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.68M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-812.68K	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`	$-8.03K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-6.31K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-8.03K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-818.99K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.69M	USD	1 Quarter

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