10-K Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001493152-23-045259`
Period End Date	20230930
Filing Date	20231218
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	form10-k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 26 Cash Flow Statement 68 Stockholders Equity 18

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$934.00K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.20M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.76M	shares	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$3.62M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$2.91M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.72M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$12.15M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.72M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.76M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$9.21M	USD	Point-in-time
Contract Asset	`CapitalizedContractCostNetCurrent`	-	USD	Point-in-time
Contract Asset	`CapitalizedContractCostNetCurrent`	$336.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$219.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$328.00K	USD	Point-in-time
Current Assets	`AssetsCurrent`	$13.38M	USD	Point-in-time
Current Assets	`AssetsCurrent`	$17.54M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$998.00K	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$968.00K	USD	Point-in-time
Deferred Tax Asset	`DeferredIncomeTaxAssetsNet`	$922.00K	USD	Point-in-time
Deferred Tax Asset	`DeferredIncomeTaxAssetsNet`	$942.00K	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	$3.22M	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	$2.74M	USD	Point-in-time
Security Deposits	`DepositsAssetsNoncurrent`	$23.00K	USD	Point-in-time
Security Deposits	`DepositsAssetsNoncurrent`	$23.00K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$3.69M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$4.19M	USD	Point-in-time
Total Assets	`Assets`	$22.22M	USD	Point-in-time
Total Assets	`Assets`	$18.54M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$810.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$706.00K	USD	Point-in-time
Operating Lease Liability	`OperatingLeaseLiabilityCurrent`	$604.00K	USD	Point-in-time
Operating Lease Liability	`OperatingLeaseLiabilityCurrent`	$620.00K	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	$247.00K	USD	Point-in-time
Federal Income Taxes Payable	`TaxesPayableCurrent`	$331.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$958.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$1.26M	USD	Point-in-time
Accrued Selling Expense	`AccruedSellingExpenseCurrent`	$336.00K	USD	Point-in-time
Accrued Selling Expense	`AccruedSellingExpenseCurrent`	-	USD	Point-in-time
Accrued Warranty Costs	`ProductWarrantyAccrualClassifiedCurrent`	$169.00K	USD	Point-in-time
Accrued Warranty Costs	`ProductWarrantyAccrualClassifiedCurrent`	$75.00K	USD	Point-in-time
Contract Loss Reserves	`ContractLossReservesCurrent`	$289.00K	USD	Point-in-time
Contract Loss Reserves	`ContractLossReservesCurrent`	$243.00K	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomerLiabilityCurrent`	$481.00K	USD	Point-in-time
Customer Advance Deposits	`ContractWithCustomerLiabilityCurrent`	$311.00K	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$3.37M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$4.08M	USD	Point-in-time
Credit Facility	`CreditFacilityNoncurrent`	-	USD	Point-in-time
Credit Facility	`CreditFacilityNoncurrent`	$1.00M	USD	Point-in-time
Operating Lease Liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$2.28M	USD	Point-in-time
Operating Lease Liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$2.76M	USD	Point-in-time
Other Liabilities	`LiabilitiesNoncurrent`	$3.28M	USD	Point-in-time
Other Liabilities	`LiabilitiesNoncurrent`	$2.76M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.13M	USD	Point-in-time
Total Liabilities	`Liabilities`	$7.36M	USD	Point-in-time
Common Stock ($0.001 par, 2,000,000,000 authorized, 6,763,070 and 6,716,638 shares issued and outstanding, respectively)	`CommonStockValue`	$7.00K	USD	Point-in-time
Common Stock ($0.001 par, 2,000,000,000 authorized, 6,763,070 and 6,716,638 shares issued and outstanding, respectively)	`CommonStockValue`	$7.00K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapitalCommonStock`	$21.29M	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapitalCommonStock`	$21.10M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-8.70M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-6.43M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$12.41M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$15.71M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$14.86M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$18.54M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$22.22M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$25.66M	USD	Annual
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$22.38M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$17.49M	USD	Annual
Cost of Sales	`CostOfGoodsAndServicesSold`	$19.04M	USD	Annual
Gross Profit	`GrossProfit`	$6.62M	USD	Annual
Gross Profit	`GrossProfit`	$4.90M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$3.83M	USD	Annual
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$3.25M	USD	Annual
Operating Income	`OperatingIncomeLoss`	$1.65M	USD	Annual
Operating Income	`OperatingIncomeLoss`	$2.79M	USD	Annual
Interest Expense	`InterestExpense`	$55.00K	USD	Annual
Interest Expense	`InterestExpense`	-	USD	Annual
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.73M	USD	Annual
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.65M	USD	Annual
Income Tax Expense, net	`IncomeTaxExpenseBenefit`	$364.00K	USD	Annual
Income Tax Expense, net	`IncomeTaxExpenseBenefit`	$469.00K	USD	Annual
Net income applicable to common shareholders	`NetIncomeLoss`	$2.26M	USD	Annual
Net income applicable to common shareholders	`NetIncomeLoss`	$1.28M	USD	Annual
Basic income per share	`EarningsPerShareBasic`	$0.16	USD	Annual
Basic income per share	`EarningsPerShareBasic`	$0.34	USD	Annual
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	6.62M	shares	Annual
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.13M	shares	Annual
Diluted income per share	`EarningsPerShareDiluted`	$0.34	USD	Annual
Diluted income per share	`EarningsPerShareDiluted`	$0.16	USD	Annual
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.65M	shares	Annual
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.22M	shares	Annual

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$2.26M	USD	Annual
Net Income	`NetIncomeLoss`	$1.28M	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$307.00K	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$345.00K	USD	Annual
Stock Compensation Expense	`ShareBasedCompensation`	$162.00K	USD	Annual
Stock Compensation Expense	`ShareBasedCompensation`	$247.00K	USD	Annual
Change in Deferred Tax Asset	`DeferredIncomeTaxesAndTaxCredits`	$346.00K	USD	Annual
Change in Deferred Tax Asset	`DeferredIncomeTaxesAndTaxCredits`	$20.00K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$716.00K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-254.00K	USD	Annual
Bad Debt Expense	`ProvisionForDoubtfulAccounts`	$21.00K	USD	Annual
Bad Debt Expense	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$1.63M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$2.94M	USD	Annual
Contract Asset	`IncreaseDecreaseInContractWithCustomerAsset`	-	USD	Annual
Contract Asset	`IncreaseDecreaseInContractWithCustomerAsset`	$336.00K	USD	Annual
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$66.00K	USD	Annual
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-109.00K	USD	Annual
Leases	`IncreaseDecreaseInOperatingLeaseLiability`	$20.00K	USD	Annual
Leases	`IncreaseDecreaseInOperatingLeaseLiability`	$80.00K	USD	Annual
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$411.00K	USD	Annual
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$313.00K	USD	Annual
Federal Income Taxes Payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-84.00K	USD	Annual
Federal Income Taxes Payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$331.00K	USD	Annual
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$-91.00K	USD	Annual
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$94.00K	USD	Annual
Accrued Selling Expense	`IncreaseDecreaseInAccruedSellingExpense`	$336.00K	USD	Annual
Accrued Selling Expense	`IncreaseDecreaseInAccruedSellingExpense`	-	USD	Annual
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$311.00K	USD	Annual
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$170.00K	USD	Annual
(Decrease) Increase In Accrued Estimated Loss On Contracts	`IncreaseDecreaseInAccruedEstimatedLossOnContracts`	$-46.00K	USD	Annual
(Decrease) Increase In Accrued Estimated Loss On Contracts	`IncreaseDecreaseInAccruedEstimatedLossOnContracts`	$238.00K	USD	Annual
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$759.00K	USD	Annual
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-2.56M	USD	Annual
Net Cash (used in) provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$2.04M	USD	Annual
Net Cash (used in) provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-296.00K	USD	Annual
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$257.00K	USD	Annual
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$376.00K	USD	Annual
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-257.00K	USD	Annual
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-376.00K	USD	Annual
Cash Paid for Taxes Withheld On Net Settled Restricted Stock Unit Share Issue	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$58.00K	USD	Annual
Cash Paid for Taxes Withheld On Net Settled Restricted Stock Unit Share Issue	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$19.00K	USD	Annual
Borrowings from Credit Facility	`ProceedsFromLinesOfCredit`	$1.51M	USD	Annual
Borrowings from Credit Facility	`ProceedsFromLinesOfCredit`	-	USD	Annual
Payments to Credit Facility	`RepaymentsOfLinesOfCredit`	-	USD	Annual
Payments to Credit Facility	`RepaymentsOfLinesOfCredit`	$507.00K	USD	Annual
Common Stock Repurchases	`PaymentsForRepurchaseOfEquity`	-	USD	Annual
Common Stock Repurchases	`PaymentsForRepurchaseOfEquity`	$4.73M	USD	Annual
Net Cash provided by (used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$942.00K	USD	Annual
Net Cash provided by (used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.75M	USD	Annual
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$270.00K	USD	Annual
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.97M	USD	Annual
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.20M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$934.00K	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.90M	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.20M	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$934.00K	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.90M	USD	Point-in-time
Right-of-Use Asset	`RightofuseAsset`	-	USD	Annual
Right-of-Use Asset	`RightofuseAsset`	$51.00K	USD	Annual
Operating Lease Liabilities	`LiabilitiesAssumed1`	-	USD	Annual
Operating Lease Liabilities	`LiabilitiesAssumed1`	$51.00K	USD	Annual
Treasury stock retired	`TreasuryStockRetired`	$-4.80M	USD	Annual
Treasury stock retired	`TreasuryStockRetired`	-	USD	Annual
Cash Paid for (Refund of) Taxes	`IncomeTaxesPaidNet`	$534.00K	USD	Annual
Cash Paid for (Refund of) Taxes	`IncomeTaxesPaidNet`	$-312.00K	USD	Annual
Cash Paid for Interest	`InterestPaidNet`	-	USD	Annual
Cash Paid for Interest	`InterestPaidNet`	$55.00K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance, value	`StockholdersEquity`	$12.41M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$15.71M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$14.86M	USD	Point-in-time
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$247.00K	USD	Annual
Shares vesting percentage	`SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage`	0.50	pure	Annual
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$162.00K	USD	Annual
Vested restricted stock units issued net of tax withholding	`StockIssuedDuringPeriodValueVestedRestrictedStockUnitsIssuedNetOfTaxWithholding`	$-19.00K	USD	Annual
Vested restricted stock units issued net of tax withholding	`StockIssuedDuringPeriodValueVestedRestrictedStockUnitsIssuedNetOfTaxWithholding`	$-58.00K	USD	Annual
Common Stock Repurchase	`StockRepurchasedDuringPeriodValue`	$371.00K	USD	Annual
Cancellation of Treasury Shares	`StockIssuedDuringPeriodValueTreasuryStockReissued`	-	USD	Annual
Tender Offer Stock Repurchase and Cancellation	`StockRepurchasedAndRetiredDuringPeriodValue`	$-4.36M	USD	Annual
Net income	`NetIncomeLoss`	$2.26M	USD	Annual
Net income	`NetIncomeLoss`	$1.28M	USD	Annual
Restricted Shares Issued	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	Annual
Forfeited Unvested Shares	`StockIssuedDuringPeriodValueShareBasedCompensationForfeited`	-	USD	Annual
Balance, value	`StockholdersEquity`	$12.41M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$15.71M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$14.86M	USD	Point-in-time

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