Value Line Inc. Files Q1 2025 10-Q Report

TL;DR

Value Line Inc. 10-Q filed for Q1 2025. Check financials.

AI Summary

Value Line Inc. reported its financial results for the period ending July 31, 2024. The company's fiscal year ends on April 30th. Specific financial figures and comparative data from previous periods are detailed within the filing.

Why It Matters

This filing provides investors with an update on Value Line Inc.'s financial performance and operational status for the first quarter of fiscal year 2025.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report and does not indicate any immediate or significant new risks.

Key Numbers

• 2024-07-31 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 2023-07-31 — Prior Year Period End Date (Used for comparative financial analysis.)
• 2022-01-31 — Prior Year Period End Date (Used for comparative financial analysis.)
• 2023-05-01 — Prior Year Period Start Date (Used for comparative financial analysis.)
• 2019-05-01 — Historical Date (Likely related to a specific event or asset mentioned in the filing.)

Key Players & Entities

• Value Line Inc. (company) — Filer of the 10-Q report
• 20240731 (date) — End of the reporting period
• 0430 (date) — Fiscal year end
• 551 FIFTH AVE., 3RD FLOOR (address) — Company's business and mailing address
• NEW YORK (location) — City of company's address
• NY (location) — State of company's address
• 212 907-1500 (phone_number) — Company's business phone number
• SeagisPropertyGroupLpTheLandlord (company) — Mentioned in relation to the Value Line Distribution Center
• ValueLineDistributionCenterVldc (location) — Property owned/leased by the company

FAQ

Key Financial Figures

• $0.10 — nge on which registered Common stock, $0.10 par value per share VALU The Nasdaq
• $0.30 — ividends declared per common share were $0.30 for the three months ending July 31, 20
• $0.28 — ividends declared per common share were $0.28 for the three months ending July 31, 20

Filing Documents

• valu20240731_10q.htm (10-Q) — 1154KB
• ex_722684.htm (EX-31.1) — 13KB
• ex_722685.htm (EX-31.2) — 13KB
• ex_722686.htm (EX-32.1) — 5KB
• img01.jpg (GRAPHIC) — 4KB
• img02.jpg (GRAPHIC) — 2KB
• 0001437749-24-029168.txt ( ) — 6327KB
• valu-20240731.xsd (EX-101.SCH) — 65KB
• valu-20240731_def.xml (EX-101.DEF) — 396KB
• valu-20240731_lab.xml (EX-101.LAB) — 321KB
• valu-20240731_pre.xml (EX-101.PRE) — 429KB
• valu-20240731_cal.xml (EX-101.CAL) — 60KB
• valu20240731_10q_htm.xml (XML) — 956KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Consolidated Condensed Financial Statements Consolidated Condensed Balance Sheets as of July 31, 2024 and April 30, 2024 3 Consolidated Condensed Statements of Income for the three months ended July 31, 2024 and July 31, 2023 4 Consolidated Condensed Statements of Comprehensive Income for the three months ended July 31, 2024 and July 31, 2023 5 Consolidated Condensed Statements of Cash Flows for the three months ended July 31, 2024 and July 31, 2023 6 Consolidated Condensed Statement of Changes in Shareholders' Equity for the three months ended July 31, 2024 7 Consolidated Condensed Statement of Changes in Shareholders' Equity for the three months ended July 31, 2023 8 Notes to Consolidated Condensed Financial Statements 9 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 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 39

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 4. Mine Safety Disclosures 40 Item 5. Other Information 40 Item 6. Exhibits 41

- Financial Information

Part I - Financial Information

Financial Statements

Item 1. Financial Statements Value Line, Inc. Consolidated Condensed Balance Sheets (in thousands, except share amounts) July 31, April 30, 2024 2024 (unaudited) Assets Current Assets: Cash and cash equivalents (including short term investments of $ 15,248 and $ 4,136 , respectively) $ 15,628 $ 4,390 Equity securities 21,724 16,344 Available-for-sale Fixed Income securities 33,928 47,611 Accounts receivable, net of allowance for credit losses of $ 31 and $ 31 , respectively 1,229 1,310 Prepaid and refundable income taxes - 209 Prepaid expenses and other current assets 1,090 1,160 Total current assets 73,599 71,024 Long term assets: Investment in EAM Trust 60,371 60,134 Restricted money market investments 305 305 Property and equipment, net 4,164 4,440 Capitalized software and other intangible assets, net 118 132 Total long term assets 64,958 65,011 Total assets $ 138,557 $ 136,035 Liabilities and Shareholders' Equity Current Liabilities: Accounts payable and accrued liabilities $ 867 $ 1,430 Accrued salaries 895 1,020 Dividends payable 2,825 2,827 Accrued taxes on income 1,410 7 Operating lease obligation-short term 1,230 1,206 Unearned revenue 15,991 15,764 Total current liabilities 23,218 22,254 Long term liabilities: Unearned revenue 5,085 6,517 Operating lease obligation-long term 3,262 3,578 Deferred income taxes 13,139 12,893 Total long term liabilities 21,486 22,988 Total liabilities 44,704 45,242 Shareholders' Equity: Common stock, $ 0.10 par value; authorized 30,000,000 shares; issued 10,000,000 shares 1,000 1,000 Additional paid-in capital 991 991 Retained earnings 107,311 104,249 Treasury stock, at cost ( 581,926 shares and 577,517 shares, respectively) ( 15,373 ) ( 15,194 ) Accumulated other comprehensive income, net of tax ( 76 ) ( 253 ) Total shareholders' equit

- Financial Information

Part I - Financial Information

Financial Statements

Item 1. Financial Statements Value Line, Inc. Consolidated Condensed Statements of Income (in thousands, except share & per share amounts) (unaudited) For the Three Months Ended July 31, 2024 2023 Revenues: Investment periodicals and related publications $ 6,287 $ 6,457 Copyright fees 2,597 3,286 Total publishing revenues 8,884 9,743 Expenses: Advertising and promotion 860 772 Salaries and employee benefits 3,543 3,740 Production and distribution 1,489 1,395 Office and administration 1,145 1,089 Total expenses 7,037 6,996 Income from operations 1,847 2,747 Revenues and profits interests in EAM Trust 4,241 2,857 Investment gains/(losses) 1,709 755 Income before income taxes 7,797 6,359 Income tax provision 1,910 1,500 Net income $ 5,887 $ 4,859 Earnings per share, basic & fully diluted $ 0.62 $ 0.52 Weighted average number of common shares 9,419,938 9,432,573 The accompanying notes are an integral part of these consolidated condensed financial statements. 4

- Financial Information

Part I - Financial Information

Financial Statements

Item 1. Financial Statements Value Line, Inc. Consolidated Condensed Statements of Comprehensive Income (in thousands) (unaudited) For the Three Months Ended July 31, 2024 2023 Net income $ 5,887 $ 4,859 Other comprehensive income/(loss), net of tax: Change in unrealized gains/(losses) on Fixed Income securities, net of tax 177 ( 212 ) Other comprehensive income/(loss) 177 ( 212 ) Comprehensive income $ 6,064 $ 4,647 The accompanying notes are an integral part of these consolidated condensed financial statements. 5

- Financial Information

Part I - Financial Information

Financial Statements

Item 1. Financial Statements Value Line, Inc. Consolidated Condensed Statements of Cash Flows (in thousands) (unaudited) For the Three Months Ended July 31, 2024 2023 Cash flows from operating activities: Net income $ 5,887 $ 4,859 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 294 348 Investment (gains)/losses ( 950 ) ( 221 ) Non-voting revenues interest in EAM Trust ( 3,680 ) ( 2,616 ) Non-voting profits interest in EAM Trust ( 561 ) ( 241 ) Distributions received from EAM Trust 4,004 2,674 Deferred income taxes 315 40 Deferred rent ( 292 ) ( 326 ) Other - ( 352 ) Changes in operating assets and liabilities: Unearned revenue ( 1,205 ) ( 1,347 ) Accounts payable & accrued expenses ( 563 ) ( 201 ) Accrued salaries ( 125 ) 25 Accrued taxes on income 1,287 1,289 Prepaid and refundable income taxes 209 322 Prepaid expenses and other current assets 70 186 Accounts receivable 81 619 Total adjustments ( 1,116 ) 199 Net cash provided by operating activities 4,771 5,058 Cash flows from investing activities: Purchases of equity securities ( 4,520 ) ( 513 ) Purchases of fixed income securities classified as available-for-sale ( 2,450 ) ( 16,020 ) Proceeds from sales of equity securities 90 516 Proceeds from sales of fixed income securities classified as available-for-sale 16,357 15,750 Acquisition of property and equipment ( 4 ) - Net cash provided by/(used in) investing activities 9,473 ( 267 ) Cash flows from financing activities: Purchase of treasury stock at cost ( 179 ) ( 188 ) Dividends paid ( 2,827 ) ( 2,642 ) Net cash used in financing activities ( 3,006 ) ( 2,830 ) Net change in cash and cash equivalents 11,238 1,961 Cash, cash equivalents and restricted cash at beginning of period 4,695 7,895 Cash, cas

- Financial Information

Part I - Financial Information

Financial Statements

Item 1. Financial Statements Value Line, Inc. Consolidated Condensed Statement of Changes in Shareholders' Equity For the Three Months Ended July 31, 2024 (in thousands, except share amounts) (unaudited) Common stock Additional paid-in- Treasury stock Retained Accumulated other comprehensive Shares Amount capital Shares Amount earnings income Total Balance at April 30, 2024 10,000,000 $ 1,000 $ 991 ( 577,517 ) $ ( 15,194 ) $ 104,249 $ ( 253 ) $ 90,793 Net income 5,887 5,887 Change in unrealized gains on Fixed Income securities, net of taxes 177 177 Purchase of treasury stock ( 4,409 ) ( 179 ) ( 179 ) Dividends declared ( 2,825 ) ( 2,825 ) Balance at July 31, 2024 10,000,000 $ 1,000 $ 991 ( 581,926 ) $ ( 15,373 ) $ 107,311 $ ( 76 ) $ 93,853 Dividends declared per common share were $0.30 for the three months ending July 31, 2024. The accompanying notes are an integral part of these consolidated condensed financial statements. 7

- Financial Information

Part I - Financial Information

Financial Statements

Item 1. Financial Statements Value Line, Inc. Consolidated Condensed Statement of Changes in Shareholders' Equity For the Three Months Ended July 31, 2023 (in thousands, except share amounts) (unaudited) Common stock Additional paid-in- Treasury stock Retained Accumulated other comprehensive Shares Amount capital Shares Amount earnings income Total Balance at April 30, 2023 10,000,000 $ 1,000 $ 991 ( 565,460 ) $ ( 14,671 ) $ 95,979 $ 374 $ 83,673 Net income 4,859 4,859 Change in unrealized gains on Fixed Income securities, net of taxes ( 212 ) ( 212 ) Purchase of treasury stock ( 4,011 ) ( 188 ) ( 188 ) Dividends declared ( 2,641 ) ( 2,641 ) Balance at July 31, 2023 10,000,000 $ 1,000 $ 991 ( 569,471 ) $ ( 14,859 ) $ 98,197 $ 162 $ 85,491 Dividends declared per common share were $0.28 for the three months ending July 31, 2023. The accompanying notes are an integral part of these consolidated condensed financial statements. 8 Value Line, Inc. Notes to Consolidated Condensed Financial Statements July 31, 2024 (Unaudited) Note 1 - Organization and Summary of Significant Accounting Policies: Value Line, Inc. ("Value Line" or "VLI", and collectively with its subsidiaries, the "Company") is incorporated in the State of New York. The name "Value Line" as used to describe the Company, its products, and its subsidiaries, is a registered trademark of the Company. The Company's core business is producing investment periodicals and their underlying research and making available certain Value Line copyrights, Value Line trademarks and Value Line Proprietary Ranks and other proprietary information, to third parties under written agreements for use in third-party managed and marketed investment products and for other purposes. The Company maintains a significant investment in Eulav Asset Management LLC ("EAM") from which it receives a non-voting revenu

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