10-Q Filing

LANTRONIX INC CIK: 1114925 Q3 2019

Filing Information

Form Type	10-Q
Accession Number	`0001683168-19-001198`
Period End Date	20190331
Filing Date	20190426
Fiscal Year	2019
Fiscal Period	Q3
XBRL Instance	ltrx-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 64 Cash Flow Statement 54 Stockholders Equity 30

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.21M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.57M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.96M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.24M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$8.35M	USD	Point-in-time
Inventories, net	`InventoryNet`	$8.44M	USD	Point-in-time
Inventories, net	`InventoryNet`	$9.81M	USD	Point-in-time
Contract manufacturers' receivable	`NontradeReceivables`	$506.00K	USD	Point-in-time
Contract manufacturers' receivable	`NontradeReceivables`	$649.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$817.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$370.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$37.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.27M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.35M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.04M	USD	Point-in-time
Goodwill	`Goodwill`	$9.49M	USD	Point-in-time
Goodwill	`Goodwill`	$9.49M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$61.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$53.00K	USD	Point-in-time
Total assets	`Assets`	$48.59M	USD	Point-in-time
Total assets	`Assets`	$33.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.01M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.94M	USD	Point-in-time
Accrued payroll and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$2.81M	USD	Point-in-time
Accrued payroll and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$1.81M	USD	Point-in-time
Warranty reserve	`ProductWarrantyAccrualClassifiedCurrent`	$110.00K	USD	Point-in-time
Warranty reserve	`ProductWarrantyAccrualClassifiedCurrent`	$125.00K	USD	Point-in-time
Warranty reserve	`ProductWarrantyAccrualClassifiedCurrent`	$99.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.96M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.88M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.89M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$316.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$228.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$11.11M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.04M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$213.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$225.02M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-187.92M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-189.56M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$371.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$371.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$36.02M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$37.48M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$23.81M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$21.87M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$21.22M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$20.69M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$48.59M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$33.85M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`Revenues`	$12.34M	USD	1 Quarter
Net revenue	`Revenues`	$33.54M	USD	3 Qtrs
Net revenue	`Revenues`	$36.74M	USD	3 Qtrs
Net revenue	`Revenues`	$11.60M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$5.25M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$16.25M	USD	3 Qtrs
Cost of revenue	`CostOfRevenue`	$15.05M	USD	3 Qtrs
Cost of revenue	`CostOfRevenue`	$5.02M	USD	1 Quarter
Gross profit	`GrossProfit`	$18.49M	USD	3 Qtrs
Gross profit	`GrossProfit`	$7.09M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.58M	USD	1 Quarter
Gross profit	`GrossProfit`	$20.49M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.24M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$12.50M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$12.40M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.87M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$6.96M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.96M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.38M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$6.06M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$6.25M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$19.46M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$6.21M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$18.46M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.03M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$838.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$33.00K	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$379.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-14.00K	USD	3 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$-5.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$91.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$147.00K	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-12.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$1.00K	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-1.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-14.00K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$20.00K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.17M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$373.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$917.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$60.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$29.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$114.00K	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$92.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.05M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-72.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$857.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$344.00K	USD	1 Quarter
Net income (loss) per share - basic	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Net income (loss) per share - basic	`EarningsPerShareBasic`	$0.05	USD	3 Qtrs
Net income (loss) per share - basic	`EarningsPerShareBasic`	-	USD	3 Qtrs
Net income (loss) per share - basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Net income (loss) per share - diluted	`EarningsPerShareDiluted`	$0.05	USD	3 Qtrs
Net income (loss) per share - diluted	`EarningsPerShareDiluted`	-	USD	3 Qtrs
Net income (loss) per share - diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Net income (loss) per share - diluted	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Weighted-average common shares - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	22.27M	shares	1 Quarter
Weighted-average common shares - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	21.24M	shares	3 Qtrs
Weighted-average common shares - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.21M	shares	1 Quarter
Weighted-average common shares - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.05M	shares	3 Qtrs
Weighted-average common shares - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.12M	shares	1 Quarter
Weighted-average common shares - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.05M	shares	3 Qtrs
Weighted-average common shares - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.63M	shares	3 Qtrs
Weighted-average common shares - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.30M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$1.05M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-72.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$857.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$344.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$1.26M	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$331.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$877.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$295.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$336.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$341.00K	USD	3 Qtrs
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-10.00K	USD	3 Qtrs
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$402.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.93M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.83M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$419.00K	USD	3 Qtrs
Contract manufacturers' receivable	`IncreaseDecreaseNontradeReceivables`	$-143.00K	USD	3 Qtrs
Contract manufacturers' receivable	`IncreaseDecreaseNontradeReceivables`	$245.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$68.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$257.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$32.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.46M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$794.00K	USD	3 Qtrs
Accrued payroll and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.00M	USD	3 Qtrs
Accrued payroll and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-959.00K	USD	3 Qtrs
Warranty reserve	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$11.00K	USD	3 Qtrs
Warranty reserve	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-12.00K	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$265.00K	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$813.00K	USD	3 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.60M	USD	3 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$725.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$383.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$171.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-383.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-171.00K	USD	3 Qtrs
Net proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$10.86M	USD	3 Qtrs
Net proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$518.00K	USD	3 Qtrs
Tax withholding paid on behalf of employees for restricted shares	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$188.00K	USD	3 Qtrs
Tax withholding paid on behalf of employees for restricted shares	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$145.00K	USD	3 Qtrs
Payment of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$45.00K	USD	3 Qtrs
Payment of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$48.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$328.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.62M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$882.00K	USD	3 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.64M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.21M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.57M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.07M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.96M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.21M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.57M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.07M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.96M	USD	Point-in-time

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$36.02M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$37.48M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$23.81M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$21.87M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$21.22M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$20.69M	USD	Point-in-time
Cummulative effect of accounting change	`StockholdersEquityPeriodIncreaseDecrease`	$582.00K	USD	3 Qtrs
Shares issued pursuant to equity offering, net, value	`StockIssuedDuringPeriodValueNewIssues`	$9.74M	USD	3 Qtrs
Shares issued pursuant to stock awards, net, value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$518.00K	USD	3 Qtrs
Shares issued pursuant to stock awards, net, value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$64.00K	USD	1 Quarter
Shares issued pursuant to stock awards, net, value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$290.00K	USD	1 Quarter
Shares issued pursuant to stock awards, net, value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.18M	USD	3 Qtrs
Tax withholding paid on behalf of employees for restricted shares	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$19.00K	USD	1 Quarter
Tax withholding paid on behalf of employees for restricted shares	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$188.00K	USD	3 Qtrs
Tax withholding paid on behalf of employees for restricted shares	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$57.00K	USD	1 Quarter
Tax withholding paid on behalf of employees for restricted shares	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$145.00K	USD	3 Qtrs
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$331.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$295.00K	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.26M	USD	3 Qtrs
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$877.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.05M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-72.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$857.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$344.00K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$36.02M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$37.48M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$23.81M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$21.87M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$21.22M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$20.69M	USD	Point-in-time

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