10-Q Filing

GENASYS INC. CIK: 924383 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001437749-19-002354`
Period End Date	20181231
Filing Date	20190212
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	lrad-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 28 Cash Flow Statement 69 Comprehensive Income 8

Balance Sheet 77 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`	$11.06M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.42M	USD	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
Short-term marketable securities	`MarketableSecuritiesCurrent`	$3.78M	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`	$3.59M	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$403.43K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$397.93K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.79M	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$8.70M	USD	Point-in-time
Inventories, net	`InventoryNet`	$8.71M	USD	Point-in-time
Inventories, net	`InventoryNet`	$6.73M	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`	33.18M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$3.09M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	32.59M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$953.89K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.67M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	33.18M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$26.96M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	32.59M	shares	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$1.20M	USD	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$899.76K	USD	Point-in-time
Long-term restricted cash	`RestrictedCashNoncurrent`	$339.59K	USD	Point-in-time
Long-term restricted cash	`RestrictedCashNoncurrent`	$339.56K	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$5.96M	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$5.67M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.36M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.45M	USD	Point-in-time
Goodwill	`Goodwill`	$2.41M	USD	Point-in-time
Goodwill	`Goodwill`	$2.45M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.46M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.56M	USD	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssetsNoncurrent`	$241.37K	USD	Point-in-time
Other assets	`PrepaidExpenseAndOtherAssetsNoncurrent`	$241.31K	USD	Point-in-time
Total assets	`Assets`	$41.86M	USD	Point-in-time
Total assets	`Assets`	$40.35M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.01M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.08M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.20M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.08M	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$296.59K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$292.55K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.58M	USD	Point-in-time
Notes payable, less current portion	`LongTermNotesPayable`	$51.64K	USD	Point-in-time
Notes payable, less current portion	`LongTermNotesPayable`	$52.36K	USD	Point-in-time
Other liabilities, noncurrent	`OtherLiabilitiesNoncurrent`	$1.92M	USD	Point-in-time
Other liabilities, noncurrent	`OtherLiabilitiesNoncurrent`	$1.74M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.35M	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; 32,589,321 and 33,176,146 shares issued and outstanding, respectively	`CommonStockValue`	$332.00	USD	Point-in-time
Common stock, $0.00001 par value; 50,000,000 shares authorized; 32,589,321 and 33,176,146 shares issued and outstanding, respectively	`CommonStockValue`	$326.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$90.25M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$88.77M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-56.52M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-55.47M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-245.38K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-299.71K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$33.79M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$33.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$35.18M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$33.49M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$41.86M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$40.35M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$10.18M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$7.63M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$3.67M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$5.09M	USD	1 Quarter
Gross Profit	`GrossProfit`	$3.96M	USD	1 Quarter
Gross Profit	`GrossProfit`	$5.09M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.75M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.19M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$778.04K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.05M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.80M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.97M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$991.11K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.29M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$39.07K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$34.53K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.03M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.33M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.71M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$283.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.05M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.68M	USD	1 Quarter
Net income (loss) per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.03	USD	1 Quarter
Net income (loss) per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.24M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.90M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.57M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.24M	shares	1 Quarter

Cash Flow Statement 69 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$1.05M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.68M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$60.10K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$201.27K	USD	1 Quarter
Warranty provision	`ProductWarrantyExpenseBenefit`	$20.62K	USD	1 Quarter
Warranty provision	`ProductWarrantyExpenseBenefit`	$12.36K	USD	1 Quarter
Inventory obsolescence	`InventoryWriteDown`	$54.85K	USD	1 Quarter
Inventory obsolescence	`InventoryWriteDown`	$40.30K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$138.46K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$133.84K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$283.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$2.71M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-3.66K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$5.92M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$43.00K	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$2.03M	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-2.14M	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-393.76K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-46.87K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-66.85K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$790.63K	USD	1 Quarter
Payroll and related	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.05M	USD	1 Quarter
Payroll and related	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.02M	USD	1 Quarter
Warranty settlements	`IncreaseDecreaseInWarrantySettlements`	$4.79K	USD	1 Quarter
Warranty settlements	`IncreaseDecreaseInWarrantySettlements`	$3.15K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$311.48K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$94.63K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.75M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.09M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$1.67M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$874.35K	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$982.83K	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`	$38.81K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$69.67K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$400.55K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.53K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$159.52K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.62M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$159.52K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.62M	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCash`	-	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCash`	$-9.73K	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.31M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-6.65M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.80M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.81M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.15M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.12M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.80M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.81M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.15M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.12M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.06M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.12M	USD	Point-in-time
Restricted cash, current portion	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$397.93K	USD	Point-in-time
Restricted cash, current portion	`RestrictedCashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Long-term restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$339.59K	USD	Point-in-time
Long-term restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	-	USD	Point-in-time
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.80M	USD	Point-in-time
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.81M	USD	Point-in-time
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.15M	USD	Point-in-time
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.12M	USD	Point-in-time
Change in unrealized loss on marketable securities	`NoncashOrPartNoncashunrealizedLossOnMarketableSecurities`	$-613.00	USD	1 Quarter
Change in unrealized loss on marketable securities	`NoncashOrPartNoncashunrealizedLossOnMarketableSecurities`	$-8.03K	USD	1 Quarter

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$1.05M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.68M	USD	1 Quarter
Unrealized (loss) on marketable securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-8.03K	USD	1 Quarter
Unrealized (loss) on marketable securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-613.00	USD	1 Quarter
Unrealized foreign currency loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-53.72K	USD	1 Quarter
Unrealized foreign currency loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-1.69M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$991.61K	USD	1 Quarter

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