ClearOne Inc. Files Q3 2024 Report
Ticker: CLRO · Form: 10-Q · Filed: Nov 14, 2024 · CIK: 840715
Sentiment: neutral
Topics: 10-Q, earnings, financial-report
Related Tickers: CLRO
TL;DR
ClearOne Inc. (CLRO) filed its Q3 2024 10-Q. Details on financials to come.
AI Summary
ClearOne Inc. reported its third-quarter results for the period ending September 30, 2024. The company's filing indicates a fiscal year end of December 31st. Specific financial figures and performance details for the quarter are not detailed in this header information.
Why It Matters
This 10-Q filing provides an update on ClearOne Inc.'s financial performance and operational status for the third quarter of 2024, which is crucial for investors to assess the company's health.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific content can reveal significant financial health indicators or potential risks.
Key Numbers
- 2024 Q3 — Reporting Period (Indicates the specific quarter the report covers.)
- 1231 — Fiscal Year End (Specifies the end date of the company's fiscal year.)
Key Players & Entities
- CLEARONE INC (company) — Filer
- 20240930 (date) — Period of Report
- 20241114 (date) — Filing Date
- SALT LAKE CITY (location) — Business Address City
- 8019757200 (phone_number) — Business Phone
FAQ
What were ClearOne Inc.'s total revenues for the third quarter ending September 30, 2024?
The provided header information does not contain specific revenue figures for the third quarter of 2024.
What is ClearOne Inc.'s net income or loss for the period ending September 30, 2024?
Specific net income or loss details for the period ending September 30, 2024, are not available in this header.
What were the company's total assets as of September 30, 2024?
The header information does not list the company's total assets as of September 30, 2024.
What is the company's cash and cash equivalents balance as of September 30, 2024?
Specific figures for cash and cash equivalents as of September 30, 2024, are not present in the header.
Did ClearOne Inc. experience any significant changes in its debt structure during the third quarter of 2024?
Information regarding changes in debt structure for the third quarter of 2024 is not detailed in this header.
Filing Stats: 4,560 words · 18 min read · ~15 pages · Grade level 18.8 · Accepted 2024-11-14 16:03:20
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 CLRO The NASDAQ Capital Market In
Filing Documents
- clro-20240930.htm (10-Q) — 1470KB
- 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
- 0001753926-24-001912.txt ( ) — 8017KB
- clro-20240930_def.xml (EX-101.DEF) — 216KB
- clro-20240930_pre.xml (EX-101.PRE) — 427KB
- clro-20240930_cal.xml (EX-101.CAL) — 102KB
- clro-20240930_lab.xml (EX-101.LAB) — 766KB
- clro-20240930.xsd (EX-101.SCH) — 46KB
- clro-20240930_htm.xml (XML) — 1577KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements 3 Unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 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) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,685 $ 17,835 Current marketable securities 1,136 3,480 Patent cross license receivable — 4,000 Receivables, net of allowance of $ 325 1,868 3,279 Inventories, net 14,269 10,625 Income tax receivable 27 36 Prepaid expenses and other assets 4,054 4,062 Total current assets 23,039 43,317 Long-term marketable securities 222 916 Long-term inventories, net 2,237 3,143 Property and equipment, net 518 530 Operating lease - right of use assets, net 718 990 Intangibles, net 1,567 1,689 Other assets 78 109 Total assets $ 28,379 $ 50,694 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,248 $ 1,945 Accrued liabilities 2,057 2,290 Deferred product revenue 22 30 Total current liabilities 3,327 4,265 Operating lease liability, net of current 472 665 Other long-term liabilities 1,079 1,079 Total liabilities 4,878 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 31,640 46,047 Accumulated other comprehensive loss ( 307 ) ( 310 ) Accumulated deficit ( 7,856 ) ( 1,076 ) Total shareholders' equity 23,501 44,685 Total liabilities and shareholders' equity $ 28,379 $ 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 Revenue $ 2,504