10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001437749-24-008290 |
| Period End Date | 20240131 |
| Filing Date | 20240318 |
| Fiscal Year | 2024 |
| Fiscal Period | Q1 |
| XBRL Instance | rfil20240131_10q_htm.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
37 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Accounts Receivable, Allowance for Credit Loss, Current |
AllowanceForDoubtfulAccountsReceivableCurrent
|
$265.00K | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$4.49M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$4.90M | USD | Point-in-time |
| Accounts Receivable, Allowance for Credit Loss, Current |
AllowanceForDoubtfulAccountsReceivableCurrent
|
$244.00K | USD | Point-in-time |
| Trade accounts receivable, net of allowance for doubtful accounts of $265 and $244, respectively |
AccountsReceivableNetCurrent
|
$8.31M | USD | Point-in-time |
| Trade accounts receivable, net of allowance for doubtful accounts of $265 and $244, respectively |
AccountsReceivableNetCurrent
|
$10.28M | USD | Point-in-time |
| Inventories |
InventoryNet
|
$18.73M | USD | Point-in-time |
| Inventories |
InventoryNet
|
$17.97M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$2.14M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$2.14M | USD | Point-in-time |
| TOTAL CURRENT ASSETS |
AssetsCurrent
|
$32.91M | USD | Point-in-time |
| TOTAL CURRENT ASSETS |
AssetsCurrent
|
$36.04M | USD | Point-in-time |
| Equipment and tooling |
MachineryAndEquipmentGross
|
$4.80M | USD | Point-in-time |
| Equipment and tooling |
MachineryAndEquipmentGross
|
$4.81M | USD | Point-in-time |
| Furniture and office equipment |
FurnitureAndFixturesGross
|
$5.76M | USD | Point-in-time |
| Furniture and office equipment |
FurnitureAndFixturesGross
|
$5.63M | USD | Point-in-time |
| Property, Plant and Equipment, Gross |
PropertyPlantAndEquipmentGross
|
$10.57M | USD | Point-in-time |
| Property, Plant and Equipment, Gross |
PropertyPlantAndEquipmentGross
|
$10.43M | USD | Point-in-time |
| Less accumulated depreciation |
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
$5.71M | USD | Point-in-time |
| Less accumulated depreciation |
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
$5.50M | USD | Point-in-time |
| Total property and equipment, net |
PropertyPlantAndEquipmentNet
|
$4.92M | USD | Point-in-time |
| Total property and equipment, net |
PropertyPlantAndEquipmentNet
|
$4.86M | USD | Point-in-time |
| Operating lease right of use assets, net |
OperatingLeaseRightOfUseAsset
|
$15.69M | USD | Point-in-time |
| Operating lease right of use assets, net |
OperatingLeaseRightOfUseAsset
|
$15.31M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$8.09M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$8.09M | USD | Point-in-time |
| Amortizable intangible assets, net |
FiniteLivedIntangibleAssetsNet
|
$13.17M | USD | Point-in-time |
| Amortizable intangible assets, net |
FiniteLivedIntangibleAssetsNet
|
$13.60M | USD | Point-in-time |
| Non-amortizable intangible assets |
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
$1.17M | USD | Point-in-time |
| Non-amortizable intangible assets |
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
$1.17M | USD | Point-in-time |
| Deferred tax assets |
DeferredIncomeTaxAssetsNet
|
$3.34M | USD | Point-in-time |
| Deferred tax assets |
DeferredIncomeTaxAssetsNet
|
$2.49M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$277.00K | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$277.00K | USD | Point-in-time |
| TOTAL ASSETS |
Assets
|
$79.13M | USD | Point-in-time |
| TOTAL ASSETS |
Assets
|
$85.14M | USD | Point-in-time |
| TOTAL ASSETS |
Assets
|
$82.28M | USD | Point-in-time |
Income Statement
30 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net sales |
RevenueFromContractWithCustomerIncludingAssessedTax
|
$13.46M | USD | 1 Quarter |
| Net sales |
RevenueFromContractWithCustomerIncludingAssessedTax
|
$18.34M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$10.15M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$13.26M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$5.09M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$3.30M | USD | 1 Quarter |
| Engineering |
ResearchAndDevelopmentExpense
|
$769.00K | USD | 1 Quarter |
| Engineering |
ResearchAndDevelopmentExpense
|
$961.00K | USD | 1 Quarter |
| Selling and general |
SellingGeneralAndAdministrativeExpense
|
$5.29M | USD | 1 Quarter |
| Selling and general |
SellingGeneralAndAdministrativeExpense
|
$4.62M | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$6.25M | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$5.39M | USD | 1 Quarter |
| Operating loss |
OperatingIncomeLoss
|
$-2.08M | USD | 1 Quarter |
| Operating loss |
OperatingIncomeLoss
|
$-1.17M | USD | 1 Quarter |
| Other (expense) income |
NonoperatingIncomeExpense
|
$-108.00K | USD | 1 Quarter |
| Other (expense) income |
NonoperatingIncomeExpense
|
$-153.00K | USD | 1 Quarter |
| Loss before provision for income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$-1.32M | USD | 1 Quarter |
| Loss before provision for income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$-2.19M | USD | 1 Quarter |
| Benefit from income taxes |
IncomeTaxExpenseBenefit
|
$-160.00K | USD | 1 Quarter |
| Benefit from income taxes |
IncomeTaxExpenseBenefit
|
$-831.00K | USD | 1 Quarter |
| Consolidated net loss |
NetIncomeLoss
|
$-1.16M | USD | 1 Quarter |
| Consolidated net loss |
NetIncomeLoss
|
$-1.36M | USD | 1 Quarter |
| Basic (in dollars per share) |
EarningsPerShareBasic
|
$-0.11 | USD | 1 Quarter |
| Basic (in dollars per share) |
EarningsPerShareBasic
|
$-0.13 | USD | 1 Quarter |
| Diluted (in dollars per share) |
EarningsPerShareDiluted
|
$-0.13 | USD | 1 Quarter |
| Diluted (in dollars per share) |
EarningsPerShareDiluted
|
$-0.11 | USD | 1 Quarter |
| Basic (in shares) |
WeightedAverageNumberOfSharesOutstandingBasic
|
10.22M | shares | 1 Quarter |
| Basic (in shares) |
WeightedAverageNumberOfSharesOutstandingBasic
|
10.41M | shares | 1 Quarter |
| Diluted (in shares) |
WeightedAverageNumberOfDilutedSharesOutstanding
|
10.22M | shares | 1 Quarter |
| Diluted (in shares) |
WeightedAverageNumberOfDilutedSharesOutstanding
|
10.41M | shares | 1 Quarter |
Cash Flow Statement
56 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Consolidated net loss |
NetIncomeLoss
|
$-1.16M | USD | 1 Quarter |
| Consolidated net loss |
NetIncomeLoss
|
$-1.36M | USD | 1 Quarter |
| Bad debt expense |
ProvisionForDoubtfulAccounts
|
$64.00K | USD | 1 Quarter |
| Bad debt expense |
ProvisionForDoubtfulAccounts
|
$4.00K | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$541.00K | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$633.00K | USD | 1 Quarter |
| Stock-based compensation expense |
ShareBasedCompensation
|
$255.00K | USD | 1 Quarter |
| Stock-based compensation expense |
ShareBasedCompensation
|
$212.00K | USD | 1 Quarter |
| Amortization of debt issuance cost |
AmortizationOfFinancingCosts
|
$2.00K | USD | 1 Quarter |
| Amortization of debt issuance cost |
AmortizationOfFinancingCosts
|
$2.00K | USD | 1 Quarter |
| Tax payments related to shares cancelled for vested restricted stock awards |
TaxPaymentsRelatedToSharesCanceledForVestedRestrictedStockAwards
|
- | USD | 1 Quarter |
| Tax payments related to shares cancelled for vested restricted stock awards |
TaxPaymentsRelatedToSharesCanceledForVestedRestrictedStockAwards
|
$7.00K | USD | 1 Quarter |
| Deferred income taxes |
DeferredIncomeTaxExpenseBenefit
|
$-136.00K | USD | 1 Quarter |
| Deferred income taxes |
DeferredIncomeTaxExpenseBenefit
|
$-851.00K | USD | 1 Quarter |
| Trade accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$-1.97M | USD | 1 Quarter |
| Trade accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$-843.00K | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$-759.00K | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$-117.00K | USD | 1 Quarter |
| Other current assets |
IncreaseDecreaseInOtherCurrentAssets
|
$-2.67M | USD | 1 Quarter |
| Other current assets |
IncreaseDecreaseInOtherCurrentAssets
|
$3.00K | USD | 1 Quarter |
| Right of use assets |
IncreaseDecreaseInRightOfUseAssets
|
$-383.00K | USD | 1 Quarter |
| Right of use assets |
IncreaseDecreaseInRightOfUseAssets
|
$-148.00K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$-803.00K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$-734.00K | USD | 1 Quarter |
| Accrued expenses |
IncreaseDecreaseInAccruedLiabilities
|
$-3.25M | USD | 1 Quarter |
| Accrued expenses |
IncreaseDecreaseInAccruedLiabilities
|
$22.00K | USD | 1 Quarter |
| Income taxes payable |
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
$1.13M | USD | 1 Quarter |
| Income taxes payable |
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
- | USD | 1 Quarter |
| Other current liabilities |
IncreaseDecreaseInOtherCurrentLiabilities
|
- | USD | 1 Quarter |
| Other current liabilities |
IncreaseDecreaseInOtherCurrentLiabilities
|
$283.00K | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$889.00K | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$840.00K | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquirePropertyPlantAndEquipment
|
$1.13M | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquirePropertyPlantAndEquipment
|
$143.00K | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-143.00K | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-1.13M | USD | 1 Quarter |
| FINANCING ACTIVITIES: |
ProceedsFromStockOptionsExercised
|
$85.00K | USD | 1 Quarter |
| FINANCING ACTIVITIES: |
ProceedsFromStockOptionsExercised
|
- | USD | 1 Quarter |
| Line of credit payments |
RepaymentsOfLinesOfCredit
|
- | USD | 1 Quarter |
| Line of credit payments |
RepaymentsOfLinesOfCredit
|
$500.00K | USD | 1 Quarter |
| Term Loan payments |
RepaymentsOfLongTermDebt
|
$606.00K | USD | 1 Quarter |
| Term Loan payments |
RepaymentsOfLongTermDebt
|
$606.00K | USD | 1 Quarter |
| Net cash (used in) provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-521.00K | USD | 1 Quarter |
| Net cash (used in) provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-1.11M | USD | 1 Quarter |
| Net decrease in cash and cash equivalents |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$-409.00K | USD | 1 Quarter |
| Net decrease in cash and cash equivalents |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$-762.00K | USD | 1 Quarter |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$4.49M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$4.90M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$4.53M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$3.77M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$4.49M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$4.90M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$4.53M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
$3.77M | USD | Point-in-time |
| Supplemental cash flow information income taxes paid |
IncomeTaxesPaidNet
|
$-12.00K | USD | 1 Quarter |
| Supplemental cash flow information income taxes paid |
IncomeTaxesPaidNet
|
- | USD | 1 Quarter |
Stockholders Equity
15 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Balance |
StockholdersEquity
|
$39.76M | USD | Point-in-time |
| Balance |
StockholdersEquity
|
$41.87M | USD | Point-in-time |
| Balance |
StockholdersEquity
|
$38.66M | USD | Point-in-time |
| Balance |
StockholdersEquity
|
$41.00M | USD | Point-in-time |
| Exercise of stock options |
StockIssuedDuringPeriodValueStockOptionsExercised
|
$85.00K | USD | 1 Quarter |
| Stock-based compensation expense |
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
$212.00K | USD | 1 Quarter |
| Tax withholding related to vesting of restricted stock |
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
$7.00K | USD | 1 Quarter |
| Consolidated net loss |
NetIncomeLoss
|
$-1.16M | USD | 1 Quarter |
| Consolidated net loss |
NetIncomeLoss
|
$-1.36M | USD | 1 Quarter |
| Exercise of stock options (in shares) |
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0.00 | shares | 1 Quarter |
| Issuance of restricted stock |
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
$1.00K | USD | 1 Quarter |
| Balance |
StockholdersEquity
|
$39.76M | USD | Point-in-time |
| Balance |
StockholdersEquity
|
$41.87M | USD | Point-in-time |
| Balance |
StockholdersEquity
|
$38.66M | USD | Point-in-time |
| Balance |
StockholdersEquity
|
$41.00M | USD | Point-in-time |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.