10-Q Filing

CAPSTONE GREEN ENERGY HOLDINGS, INC. CIK: 1009759 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001558370-19-007719`
Period End Date	20190630
Filing Date	20190808
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	cpst-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 28 Cash Flow Statement 60 Stockholders Equity 17

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.30M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.47M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$29.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.61M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Accounts receivable, net of allowances of $5,468 at June 30, 2019 and $5,298 at March 31, 2019	`AccountsReceivableNetCurrent`	$14.82M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowances of $5,468 at June 30, 2019 and $5,298 at March 31, 2019	`AccountsReceivableNetCurrent`	$16.22M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$20.48M	USD	Point-in-time
Inventories, net	`InventoryNet`	$20.34M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.41M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	515.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.82M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	515.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$70.11M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	71.97M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$64.32M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	73.41M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	73.14M	shares	Point-in-time
Property, plant, equipment and rental assets, net	`PropertyPlantAndEquipmentNet`	$6.05M	USD	Point-in-time
Property, plant, equipment and rental assets, net	`PropertyPlantAndEquipmentNet`	$5.29M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	71.71M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	263,162.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	262,383.00	shares	Point-in-time
Non-current portion of inventories	`InventoryNoncurrent`	$1.41M	USD	Point-in-time
Non-current portion of inventories	`InventoryNoncurrent`	$1.40M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$187.00K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$131.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.97M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.49M	USD	Point-in-time
Total assets	`Assets`	$80.40M	USD	Point-in-time
Total assets	`Assets`	$79.96M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$16.64M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$15.25M	USD	Point-in-time
Accrued salaries and wages	`EmployeeRelatedLiabilitiesCurrent`	$1.36M	USD	Point-in-time
Accrued salaries and wages	`EmployeeRelatedLiabilitiesCurrent`	$1.64M	USD	Point-in-time
Accrued warranty reserve	`ProductWarrantyAccrualClassifiedCurrent`	$2.45M	USD	Point-in-time
Accrued warranty reserve	`ProductWarrantyAccrualClassifiedCurrent`	$2.61M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$7.17M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$7.77M	USD	Point-in-time
Current portion of notes payable and lease obligations	`NotesPayableAndCapitalLeaseObligationsCurrent`	$1.18M	USD	Point-in-time
Current portion of notes payable and lease obligations	`NotesPayableAndCapitalLeaseObligationsCurrent`	$31.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$28.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$28.01M	USD	Point-in-time
Deferred revenue - non-current	`ContractWithCustomerLiabilityNoncurrent`	$1.07M	USD	Point-in-time
Deferred revenue - non-current	`ContractWithCustomerLiabilityNoncurrent`	$1.12M	USD	Point-in-time
Term note payable, net	`SeniorLongTermNotes`	$27.10M	USD	Point-in-time
Term note payable, net	`SeniorLongTermNotes`	$27.39M	USD	Point-in-time
Long-term portion of notes payable and lease obligations	`NotesPayableAndCapitalLeaseObligationsNoncurrent`	$4.84M	USD	Point-in-time
Long-term portion of notes payable and lease obligations	`NotesPayableAndCapitalLeaseObligationsNoncurrent`	$212.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$342.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$56.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$61.35M	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $.001 par value; 10,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.001 par value; 10,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.001 par value; 515,000,000 shares authorized, 73,407,734 shares issued and 73,144,573 shares outstanding at June 30, 2019; 71,971,586 shares issued and 71,709,203 shares outstanding at March 31, 2019	`CommonStockValue`	$73.00K	USD	Point-in-time
Common stock, $.001 par value; 515,000,000 shares authorized, 73,407,734 shares issued and 73,144,573 shares outstanding at June 30, 2019; 71,971,586 shares issued and 71,709,203 shares outstanding at March 31, 2019	`CommonStockValue`	$72.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$903.74M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$905.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-878.88M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-884.48M	USD	Point-in-time
Treasury stock, at cost; 263,162 shares at June 30, 2019 and 262,383 shares at March 31, 2019	`TreasuryStockCommonValue`	$1.77M	USD	Point-in-time
Treasury stock, at cost; 263,162 shares at June 30, 2019 and 262,383 shares at March 31, 2019	`TreasuryStockCommonValue`	$1.77M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$23.15M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$25.76M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$19.05M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$26.06M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$79.96M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$80.40M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$21.19M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$19.24M	USD	1 Quarter
Total cost of goods sold	`CostOfGoodsAndServicesSold`	$19.37M	USD	1 Quarter
Total cost of goods sold	`CostOfGoodsAndServicesSold`	$16.38M	USD	1 Quarter
Gross margin	`GrossProfit`	$2.87M	USD	1 Quarter
Gross margin	`GrossProfit`	$1.82M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$938.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$932.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.24M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.65M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.17M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.58M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.76M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.31M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$1.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-14.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.28M	USD	1 Quarter
Interest expense	`InterestExpense`	$118.00K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.58M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.89M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$8.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.59M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.90M	USD	1 Quarter
Net loss per common share-basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Net loss per common share-basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Weighted average shares used to calculate basic and diluted net loss per common share (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	72,578.00	shares	1 Quarter
Weighted average shares used to calculate basic and diluted net loss per common share (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	61,762.00	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-5.59M	USD	1 Quarter
Net loss	`ProfitLoss`	$-4.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$373.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$287.00K	USD	1 Quarter
Amortization of financing costs and discounts	`AmortizationOfFinancingCosts`	$38.00K	USD	1 Quarter
Amortization of financing costs and discounts	`AmortizationOfFinancingCosts`	$290.00K	USD	1 Quarter
Amortization Of Right Of Use Assets	`AmortizationOfRightOfUseAssets`	$359.00K	USD	1 Quarter
Reduction in accounts receivable allowances	`AllowanceForDoubtfulAccountsReceivableRecoveries`	$3.00K	USD	1 Quarter
Inventory provision	`InventoryWriteDown`	$137.00K	USD	1 Quarter
Inventory provision	`InventoryWriteDown`	$220.00K	USD	1 Quarter
Provision for warranty expenses	`ProductWarrantyExpense`	$397.00K	USD	1 Quarter
Provision for warranty expenses	`ProductWarrantyExpense`	$205.00K	USD	1 Quarter
Loss on disposal of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-7.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$227.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$262.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.40M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-84.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$621.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$363.00K	USD	1 Quarter
Prepaid expenses, other current assets and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.32M	USD	1 Quarter
Prepaid expenses, other current assets and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$459.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.86M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$61.00K	USD	1 Quarter
Accrued salaries and wages and long term liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-247.00K	USD	1 Quarter
Accrued salaries and wages and long term liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-276.00K	USD	1 Quarter
Accrued warranty reserve	`IncreaseDecreaseInAccruedWarrantyLiability`	$-218.00K	USD	1 Quarter
Accrued warranty reserve	`IncreaseDecreaseInAccruedWarrantyLiability`	$-372.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$651.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$1.05M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.17M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.02M	USD	1 Quarter
Expenditures for property, equipment and rental assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$977.00K	USD	1 Quarter
Expenditures for property, equipment and rental assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$163.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-977.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-163.00K	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.50M	USD	1 Quarter
Repayment of notes payable and lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$125.00K	USD	1 Quarter
Repayment of notes payable and lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$195.00K	USD	1 Quarter
Cash used in employee stock-based transactions	`NetCashUsedInEmployeeStockBasedTransactions`	$1.00K	USD	1 Quarter
Cash used in employee stock-based transactions	`NetCashUsedInEmployeeStockBasedTransactions`	$3.00K	USD	1 Quarter
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOrSaleOfEquity`	$1.22M	USD	1 Quarter
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOrSaleOfEquity`	$4.97M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.03M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.34M	USD	1 Quarter
Net increase (decrease) in Cash, Cash Equivalents and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$161.00K	USD	1 Quarter
Net increase (decrease) in Cash, Cash Equivalents and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.12M	USD	1 Quarter
Cash, Cash Equivalents and Restricted Cash, Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.61M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash, Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.57M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash, Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.73M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash, Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.41M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash, End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.61M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash, End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.57M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash, End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.73M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash, End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.41M	USD	Point-in-time
Cash paid during the period for: Interest	`InterestPaidNet`	$607.00K	USD	1 Quarter
Cash paid during the period for: Interest	`InterestPaidNet`	$82.00K	USD	1 Quarter
Cash paid during the period for: Income taxes	`IncomeTaxesPaid`	$15.00K	USD	1 Quarter
Cash paid during the period for: Income taxes	`IncomeTaxesPaid`	$4.00K	USD	1 Quarter
Acquisition of property and equipment through accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$93.00K	USD	1 Quarter
Renewal of insurance contracts which was financed by notes payable	`NotesPayableForInsuranceContract`	$536.00K	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$23.15M	USD	Point-in-time
Balance	`StockholdersEquity`	$25.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$19.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$26.06M	USD	Point-in-time
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$3.00K	USD	1 Quarter
Vested restricted stock awards	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$3.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$227.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$262.00K	USD	1 Quarter
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$4.97M	USD	1 Quarter
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$1.22M	USD	1 Quarter
Issuance of common stock, net of issuance costs (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	3.81M	shares	Point-in-time
Net loss	`NetIncomeLoss`	$-5.59M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.90M	USD	1 Quarter
Balance	`StockholdersEquity`	$23.15M	USD	Point-in-time
Balance	`StockholdersEquity`	$25.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$19.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$26.06M	USD	Point-in-time

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