Omega Flex, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Omega Flex, Inc. has submitted its 2023 annual report (10-K) detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Omega Flex, Inc. (OFLX) filed a Annual Report (10-K) with the SEC on March 11, 2024. Omega Flex, Inc. filed its 2023 Form 10-K on March 11, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business is in Heating Equipment, except Electric & Warm Air & Plumbing Fixtures. Omega Flex, Inc. is incorporated in Pennsylvania. The company's headquarters are located in Exton, PA.

Why It Matters

For investors and stakeholders tracking Omega Flex, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Omega Flex's financial health, operational performance, and strategic direction for the past fiscal year, crucial for investors and stakeholders to assess the company's value and future prospects. As a public company, Omega Flex is required to disclose detailed financial information and business operations annually, offering transparency into its market position and any potential risks or opportunities.

Risk Assessment

Risk Level: low — Omega Flex, Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Omega Flex's performance and outlook for the upcoming year.

Key Numbers

• 20231231 — Fiscal Year End (Period of report)
• 20240311 — Filing Date (Date the 10-K was filed)
• 610-524-7272 — Business Phone (Contact number for Omega Flex, Inc.)

Key Players & Entities

• Omega Flex, Inc. (company) — Filer name
• OFLX (company) — Ticker symbol
• PA (location) — State of incorporation and business address
• Exton (location) — City of business address
• 3430 (industry) — Standard Industrial Classification

FAQ

Industry Context

Omega Flex, Inc. operates within the heating equipment manufacturing sector, specifically focusing on products related to plumbing fixtures and warm air systems.

Regulatory Implications

As a publicly traded company in the US, Omega Flex, Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the Management's Discussion and Analysis of Financial Condition and Results of Operations section for insights into performance drivers.
2. Examine the Risk Factors section for potential challenges and uncertainties facing the company.
3. Review the Consolidated Financial Statements and accompanying notes for a detailed understanding of the company's financial position.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-11: Filing Date — Date Omega Flex, Inc. submitted its 10-K filing.

Year-Over-Year Comparison

This is the initial filing analyzed for the 2023 fiscal year, providing a baseline for future comparisons.

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share OFLX NASDAQ Global Marke

Filing Documents

• form10-k.htm (10-K) — 1046KB
• ex10-3.htm (EX-10.3) — 6KB
• ex10-18.htm (EX-10.18) — 14KB
• ex10-20.htm (EX-10.20) — 5KB
• ex19-1.htm (EX-19.1) — 20KB
• ex21-1.htm (EX-21.1) — 5KB
• ex23-1.htm (EX-23.1) — 4KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 9KB
• ex97-1.htm (EX-97.1) — 45KB
• ex19-1_001.jpg (GRAPHIC) — 13KB
• form10-k_001.jpg (GRAPHIC) — 100KB
• 0001493152-24-009591.txt (&nbsp;) — 5221KB
• oflx-20231231.xsd (EX-101.SCH) — 31KB
• oflx-20231231_cal.xml (EX-101.CAL) — 68KB
• oflx-20231231_def.xml (EX-101.DEF) — 97KB
• oflx-20231231_lab.xml (EX-101.LAB) — 298KB
• oflx-20231231_pre.xml (EX-101.PRE) — 227KB
• form10-k_htm.xml (XML) — 638KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 18 Item 1C. Cybersecurity 18 Item 2.

Properties

Properties 18 Item 3.

Legal Proceedings

Legal Proceedings 18 Item 4. Mine Safety Disclosures 18 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 19 Item 6. [Reserved] 19 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 7A.

Quantitative and Qualitative Disclosures about Market Risks

Quantitative and Qualitative Disclosures about Market Risks 26 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 27 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures 51 Item 9A.

Controls and Procedures

Controls and Procedures 51 Item 9B. Other Information 51 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 51 PART III Item 10. Directors, Executive Officers, and Corporate Governance 52 Item 11.

Executive Compensation

Executive Compensation 52 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 52 Item 13. Certain Relationships and Related Party Transactions, and Director Independence 52 Item 14. Principal Accountant Fees and Services 52 PART IV Item 15. Exhibits and Financial Statement Schedules 52 Item 16. Form 10-K Summary 55 -2- CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain historical facts — but rather reflect our current expectations concerning future results and events — constitute forward-looking "intends," "plans," "anticipates," "intends," "estimates," "potential," "continues," "hopes," "likely," "will," and similar expressions, or the negative of these terms, identify such forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties . Important factors that could cause the actual results, performance or achievements of Omega Flex, Inc., or industry results, to differ materially from future results, performance or achievements expressed or implied by such forward-looking Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's view only as of the date of this annual report. We undertake no obligation to update or revise any forward-looking statements, whether to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, conditions, or circumstances, except as required by law. In addition, certain sections of this annual report contain information obtained from independent industry sources and other sources

View Full Filing

View this 10-K filing on SEC EDGAR