ClearOne Inc. Files Q2 2024 10-Q Financials
Ticker: CLRO · Form: 10-Q · Filed: Aug 14, 2024 · CIK: 840715
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
ClearOne's Q2 2024 10-Q is in, showing expenses and retained earnings. Check the numbers.
AI Summary
ClearOne Inc. reported its second quarter 2024 results for the period ending June 30, 2024. The company's financial statements detail expenses such as Cost of Sales, Selling and Marketing Expense, Research and Development Expense, and General and Administrative Expense for both the second quarter of 2024 and 2023. Retained Earnings as of April 1, 2023, are also noted.
Why It Matters
This filing provides investors with the latest financial performance data for ClearOne Inc., crucial for understanding the company's operational efficiency and profitability trends.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks disclosed.
Key Numbers
- 2024 Q2 — Reporting Period (Second quarter of 2024 financial results)
- 2023-04-01 to 2023-06-30 — Prior Year Q2 Period (Comparison period for financial data)
- 2024-04-01 to 2024-06-30 — Current Year Q2 Period (Period for which financial data is reported)
Key Players & Entities
- ClearOne Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240814 (date) — Filing date
- 0000840715 (company) — Central Index Key for ClearOne Inc.
FAQ
What were ClearOne Inc.'s total revenues for the second quarter of 2024?
The provided text does not explicitly state the total revenues for the second quarter of 2024, but it does list various expense categories for the period.
How do the Cost of Sales for Q2 2024 compare to Q2 2023?
The filing indicates that Cost of Sales data is available for both Q2 2024 (2024-04-01 to 2024-06-30) and Q2 2023 (2023-04-01 to 2023-06-30), allowing for comparison, though specific figures are not detailed here.
What is the company's fiscal year end?
ClearOne Inc.'s fiscal year ends on December 31.
When was the company formerly known as Gentner Communications Corp?
The company was formerly known as Gentner Communications Corp until a name change on 19920703.
What is the SEC file number for ClearOne Inc.'s 1934 Act filings?
The SEC file number for ClearOne Inc. under the 1934 Act is 001-33660.
Filing Stats: 4,598 words · 18 min read · ~15 pages · Grade level 19 · Accepted 2024-08-14 13:29:04
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 CLRO The NASDAQ Capital Market In
Filing Documents
- clro-20240630.htm (10-Q) — 1523KB
- 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
- 0001753926-24-001441.txt ( ) — 8299KB
- clro-20240630_def.xml (EX-101.DEF) — 217KB
- clro-20240630_pre.xml (EX-101.PRE) — 430KB
- clro-20240630_cal.xml (EX-101.CAL) — 104KB
- clro-20240630_lab.xml (EX-101.LAB) — 771KB
- clro-20240630.xsd (EX-101.SCH) — 45KB
- clro-20240630_htm.xml (XML) — 1684KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements 3 Unaudited Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and six months ended June 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 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) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 2,450 $ 17,835 Current marketable securities 1,852 3,480 Patent cross license receivable — 4,000 Receivables, net of allowance of $ 326 2,574 3,279 Inventories, net 14,599 10,625 Income tax receivable 27 36 Prepaid expenses and other assets 3,855 4,062 Total current assets 25,357 43,317 Long-term marketable securities 621 916 Long-term inventories, net 1,772 3,143 Property and equipment, net 552 530 Operating lease - right of use assets, net 804 990 Intangibles, net 1,582 1,689 Other assets 108 109 Total assets $ 30,796 $ 50,694 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,901 $ 1,945 Accrued liabilities 1,726 2,290 Deferred product revenue 23 30 Total current liabilities 3,650 4,265 Operating lease liability, net of current 515 665 Other long-term liabilities 1,079 1,079 Total liabilities 5,244 6,009 Shareholders' equity: Common stock, par value $ 0.001 , 50,000,000 shares authorized, 23,969,148 and 23,969,148 shares issued and outstanding, respectively 24 24 Additional paid-in capital 31,616 46,047 Accumulated other comprehensive loss ( 294 ) ( 310 ) Accumulated deficit ( 5,794 ) ( 1,076 ) Total shareholders' equity 25,552 44,685 Total liabilities and shareholders' equity $ 30,796 $ 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 June 30, Six months ended June 30, 2024 2023 2024 2023 Revenue $ 2,304 $ 5,483 $ 5