ClearOne Inc. Q1 2024 10-Q Filed
Ticker: CLRO · Form: 10-Q · Filed: May 17, 2024 · CIK: 840715
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
Related Tickers: CLRO
TL;DR
CLRO Q1 2024 10-Q is in. Financials updated.
AI Summary
ClearOne Inc. filed its 10-Q for the period ending March 31, 2024. The company reported financial results for the first quarter of 2024, detailing its assets, liabilities, and equity. Specific financial figures for retained earnings, accumulated other comprehensive income, and common stock were provided for the periods ending December 31, 2023, and March 31, 2024.
Why It Matters
This filing provides investors with an update on ClearOne's financial health and performance for the first quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific financial performance detailed within can carry inherent risks for investors.
Key Numbers
- 23,969,148 — Total Assets (As of March 31, 2024, based on the filing's structure.)
- 20240331 — Reporting Period End Date (Indicates the end of the fiscal quarter reported.)
- 2023-12-31 — Previous Year-End Date (For comparative financial analysis.)
- 2022-12-31 — Year-End Date Prior (For longer-term financial trend analysis.)
- 1231 — Fiscal Year End (Indicates the company's annual reporting cycle.)
Key Players & Entities
- CLEARONE INC (company) — Filer
- 0001753926-24-000998 (other) — Accession Number
- 20240331 (date) — Period of Report
- 20240517 (date) — Filing Date
- SALT LAKE CITY (location) — Business Address City
FAQ
What was ClearOne Inc.'s total revenue for the first quarter of 2024?
The provided text does not explicitly state the total revenue for Q1 2024. It focuses on balance sheet items and dates.
What is the company's net income or loss for the quarter ending March 31, 2024?
The filing excerpt does not contain information on net income or loss for the period ending March 31, 2024.
How has ClearOne Inc.'s retained earnings changed from December 31, 2023, to March 31, 2024?
The filing indicates 'us-gaap:RetainedEarningsMember' for both 2023-12-31 and 2024-03-31, but the specific values are not detailed in this excerpt.
What are the details regarding ClearOne Inc.'s intangible assets as of March 31, 2024?
The filing mentions 'us-gaap:OtherIntangibleAssetsMember' with 'srt:MaximumMember' and 'srt:MinimumMember' for 2024-03-31, but specific values are not provided in this text.
What was the company's cash and cash equivalents balance at the end of Q1 2024?
Information regarding cash and cash equivalents is not present in the provided text excerpt.
Filing Stats: 4,525 words · 18 min read · ~15 pages · Grade level 18.8 · Accepted 2024-05-17 14:08:23
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 CLRO The NASDAQ Capital Market In
Filing Documents
- clro-20240331.htm (10-Q) — 1338KB
- ex311_1.htm (EX-31.1) — 20KB
- ex312_2.htm (EX-31.2) — 17KB
- ex321_3.htm (EX-32.1) — 4KB
- ex322_4.htm (EX-32.2) — 4KB
- 0001753926-24-000998.txt ( ) — 7848KB
- clro-20240331_def.xml (EX-101.DEF) — 229KB
- clro-20240331_pre.xml (EX-101.PRE) — 444KB
- clro-20240331_cal.xml (EX-101.CAL) — 107KB
- clro-20240331_lab.xml (EX-101.LAB) — 784KB
- clro-20240331.xsd (EX-101.SCH) — 47KB
- clro-20240331_htm.xml (XML) — 1513KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements 3 Unaudited Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended March 31, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 5 Unaudited Notes to Condensed Consolidated Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.
Controls and Procedures
Controls and Procedures 23
- OTHER INFORMATION
PART II - OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 24 Item 1A.
Risk Factors
Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3. Defaults Upon Senior Securities 24 Item 4. Mine Safety Disclosures 24 Item 5. Other Information 24 Item 6. Exhibits 25 2 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
. FINANCIAL STATEMENTS
Item 1 . FINANCIAL STATEMENTS CLEARONE, INC UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except par value) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 18,544 $ 17,835 Current marketable securities 2,809 3,480 Patent cross license receivable — 4,000 Receivables, net of allowance of $ 326 2,794 3,279 Inventories, net 11,434 10,625 Income tax receivable 27 36 Prepaid expenses and other assets 4,001 4,062 Total current assets 39,609 43,317 Long-term marketable securities 1,278 916 Long-term inventories, net 4,161 3,143 Property and equipment, net 542 530 Operating lease - right of use assets, net 898 990 Intangibles, net 1,615 1,689 Other assets 108 109 Total assets $ 48,211 $ 50,694 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,733 $ 1,945 Dividends payable 14,496 — Accrued liabilities 1,959 2,290 Deferred product revenue 26 30 Total current liabilities 18,214 4,265 Operating lease liability, net of current 574 665 Other long-term liabilities 1,079 1,079 Total liabilities 19,867 6,009 Shareholders' equity: Common stock, par value $ 0.001 , 50,000,000 shares authorized, 23,969,148 shares issued and outstanding 24 24 Additional paid-in capital 31,584 46,047 Accumulated other comprehensive loss ( 290 ) ( 310 ) Accumulated deficit ( 2,974 ) ( 1,076 ) Total shareholders' equity 28,344 44,685 Total liabilities and shareholders' equity $ 48,211 $ 50,694 See accompanying notes 3 Table of Contents CLEARONE, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Dollars in thousands, except per share amounts) Three months ended March 31, 2024 2023 Revenue $ 3,622 $ 4,178 Cost of goods sold 2,471 2,863