10-Q Filing

OPTEX SYSTEMS HOLDINGS INC CIK: 1397016 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001493152-24-005894`
Period End Date	20231231
Filing Date	20240212
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 26 Cash Flow Statement 56 Stockholders Equity 16

Balance Sheet 71 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`	$2.37M	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`	6.82M	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`	$2.43M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.82M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$12.69M	USD	Point-in-time
Inventory, Net	`InventoryNet`	$12.15M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.76M	shares	Point-in-time
Contract Asset	`CapitalizedContractCostNetCurrent`	$336.00K	USD	Point-in-time
Contract Asset	`CapitalizedContractCostNetCurrent`	$258.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$154.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$219.00K	USD	Point-in-time
Current Assets	`AssetsCurrent`	$17.54M	USD	Point-in-time
Current Assets	`AssetsCurrent`	$17.90M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$998.00K	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$964.00K	USD	Point-in-time
Deferred Tax Asset	`DeferredIncomeTaxAssetsNet`	$887.00K	USD	Point-in-time
Deferred Tax Asset	`DeferredIncomeTaxAssetsNet`	$922.00K	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	$2.74M	USD	Point-in-time
Right-of-use Asset	`OperatingLeaseRightOfUseAsset`	$2.62M	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`	$3.52M	USD	Point-in-time
Total Assets	`Assets`	$22.22M	USD	Point-in-time
Total Assets	`Assets`	$22.39M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$810.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$1.80M	USD	Point-in-time
Operating Lease Liability	`OperatingLeaseLiabilityCurrent`	$625.00K	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`	$326.00K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$1.26M	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$992.00K	USD	Point-in-time
Accrued Selling Expense	`AccruedSellingExpenseCurrent`	$336.00K	USD	Point-in-time
Accrued Selling Expense	`AccruedSellingExpenseCurrent`	$280.00K	USD	Point-in-time
Accrued Warranty Costs	`ProductWarrantyAccrualClassifiedCurrent`	$75.00K	USD	Point-in-time
Accrued Warranty Costs	`ProductWarrantyAccrualClassifiedCurrent`	$48.00K	USD	Point-in-time
Contract Loss Reserves	`ContractLossReservesCurrent`	$308.00K	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`	$481.00K	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$4.08M	USD	Point-in-time
Current Liabilities	`LiabilitiesCurrent`	$4.86M	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`	$2.16M	USD	Point-in-time
Other Liabilities	`LiabilitiesNoncurrent`	$2.16M	USD	Point-in-time
Other Liabilities	`LiabilitiesNoncurrent`	$3.28M	USD	Point-in-time
Total Liabilities	`Liabilities`	$7.36M	USD	Point-in-time
Total Liabilities	`Liabilities`	$7.01M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock ($0.001 par, 2,000,000,000 authorized, 6,823,693 and 6,763,070 shares issued and outstanding, respectively)	`CommonStockValue`	$7.00K	USD	Point-in-time
Common Stock ($0.001 par, 2,000,000,000 authorized, 6,823,693 and 6,763,070 shares issued and outstanding, respectively)	`CommonStockValue`	$7.00K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapitalCommonStock`	$21.37M	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapitalCommonStock`	$21.29M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-6.43M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-6.00M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$12.21M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$15.38M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$12.41M	USD	Point-in-time
Stockholders Equity	`StockholdersEquity`	$14.86M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$22.39M	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`	$4.04M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$6.97M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$3.32M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$5.28M	USD	1 Quarter
Gross Profit	`GrossProfit`	$1.68M	USD	1 Quarter
Gross Profit	`GrossProfit`	$717.00K	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$1.13M	USD	1 Quarter
General and Administrative Expense	`GeneralAndAdministrativeExpense`	$999.00K	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$-282.00K	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$553.00K	USD	1 Quarter
Other Expense	`InterestExpenseOther`	-	USD	1 Quarter
Other Expense	`InterestExpenseOther`	$7.00K	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$546.00K	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-282.00K	USD	1 Quarter
Income Tax Expense (Benefit)	`IncomeTaxExpenseBenefit`	$-59.00K	USD	1 Quarter
Income Tax Expense (Benefit)	`IncomeTaxExpenseBenefit`	$115.00K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$431.00K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-223.00K	USD	1 Quarter
Basic income (loss) per share	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Basic income (loss) per share	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	6.54M	shares	1 Quarter
Weighted Average Common Shares Outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	6.67M	shares	1 Quarter
Diluted income (loss) per share	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Diluted income (loss) per share	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.72M	shares	1 Quarter
Weighted Average Common Shares Outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.54M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$431.00K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-223.00K	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$81.00K	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$92.00K	USD	1 Quarter
Stock Compensation Expense	`ShareBasedCompensation`	$113.00K	USD	1 Quarter
Stock Compensation Expense	`ShareBasedCompensation`	$35.00K	USD	1 Quarter
Deferred Tax	`DeferredIncomeTaxesAndTaxCredits`	$-59.00K	USD	1 Quarter
Deferred Tax	`DeferredIncomeTaxesAndTaxCredits`	$35.00K	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.30M	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.19M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$532.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.59M	USD	1 Quarter
Contract Asset	`IncreaseDecreaseInContractWithCustomerAsset`	$336.00K	USD	1 Quarter
Contract Asset	`IncreaseDecreaseInContractWithCustomerAsset`	$-78.00K	USD	1 Quarter
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-65.00K	USD	1 Quarter
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-79.00K	USD	1 Quarter
Leases	`IncreaseDecreaseInOperatingLeaseLiability`	$8.00K	USD	1 Quarter
Leases	`IncreaseDecreaseInOperatingLeaseLiability`	$4.00K	USD	1 Quarter
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$713.00K	USD	1 Quarter
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$745.00K	USD	1 Quarter
Federal Income Taxes Payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$79.00K	USD	1 Quarter
Federal Income Taxes Payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	-	USD	1 Quarter
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$27.00K	USD	1 Quarter
Accrued Warranty Costs	`IncreaseDecreaseInAccruedWarrantyCosts`	$-60.00K	USD	1 Quarter
Accrued Selling Expense	`IncreaseDecreaseInAccruedSellingExpense`	$-56.00K	USD	1 Quarter
Accrued Selling Expense	`IncreaseDecreaseInAccruedSellingExpense`	$336.00K	USD	1 Quarter
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	-	USD	1 Quarter
Customer Advance Deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$15.00K	USD	1 Quarter
Contract Loss Reserves	`IncreaseDecreaseInContractLossReserves`	$-65.00K	USD	1 Quarter
Contract Loss Reserves	`IncreaseDecreaseInContractLossReserves`	$7.00K	USD	1 Quarter
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.82M	USD	1 Quarter
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$674.00K	USD	1 Quarter
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$2.25M	USD	1 Quarter
Net Cash provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$451.00K	USD	1 Quarter
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$58.00K	USD	1 Quarter
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$90.00K	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-58.00K	USD	1 Quarter
Net Cash used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-90.00K	USD	1 Quarter
Payments to Credit Facility	`RepaymentsOfLinesOfCredit`	$1.00M	USD	1 Quarter
Payments to Credit Facility	`RepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Cash Paid for Taxes Withheld on Net Settled Restricted Stock Unit Shares Issued	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$27.00K	USD	1 Quarter
Cash Paid for Taxes Withheld on Net Settled Restricted Stock Unit Shares Issued	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$15.00K	USD	1 Quarter
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.00K	USD	1 Quarter
Net Cash used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.03M	USD	1 Quarter
Net Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.17M	USD	1 Quarter
Net Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$346.00K	USD	1 Quarter
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.28M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.20M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$934.00K	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.37M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.28M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.20M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$934.00K	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.37M	USD	Point-in-time
Cash Paid for Interest	`InterestPaidNet`	-	USD	1 Quarter
Cash Paid for Interest	`InterestPaidNet`	$7.00K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Vesting share price	`SharePrice`	$3.70	USD	Point-in-time
Vesting share price	`SharePrice`	$3.04	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$12.21M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$15.38M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$12.41M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$14.86M	USD	Point-in-time
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$113.00K	USD	1 Quarter
Stock Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$35.00K	USD	1 Quarter
Vested Performance Based Shares net of withheld taxes	`StockIssuedDuringPeriodValueVestedPerformanceBasedSharesNetOfWithheldTaxes`	$-27.00K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$431.00K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-223.00K	USD	1 Quarter
Vested Restricted Stock Units, net of withheld taxes	`StockIssuedDuringPeriodValueVestedRestrictedStockUnitsIssuedNetOfTaxWithholding`	$-15.00K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$12.21M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$15.38M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$12.41M	USD	Point-in-time
Ending 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.