Wavedancer, Inc. Reports Q1 2024 Financial Results
Ticker: AIFF · Form: 10-Q · Filed: May 14, 2024 · CIK: 803578
Sentiment: mixed
Topics: Wavedancer, 10-Q, Q1 2024, Revenue, Net Loss
TL;DR
<b>Wavedancer, Inc. experienced a slight revenue increase in Q1 2024, driven by software sales, but maintained a net loss.</b>
AI Summary
WAVEDANCER, INC. (AIFF) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Wavedancer, Inc. reported Q1 2024 revenue of $528,522, a decrease from $484,461 in Q1 2023. Software sales for Q1 2024 were $440,991, compared to $432,620 in Q1 2023. Professional fees for Q1 2024 were $87,531, a decrease from $51,841 in Q1 2023. The company reported a net loss of ($167,305) for Q1 2024, unchanged from Q1 2023. Total assets as of March 31, 2024, were $2,180,485, an increase from $2,013,180 as of December 31, 2023.
Why It Matters
For investors and stakeholders tracking WAVEDANCER, INC., this filing contains several important signals. The company's revenue saw a modest increase, indicating some stabilization in its business operations. Despite revenue growth, the continued net loss suggests ongoing challenges in achieving profitability.
Risk Assessment
Risk Level: — WAVEDANCER, INC. shows moderate risk based on this filing. The company has consistently reported net losses, indicating a potential struggle to achieve sustainable profitability and manage operational costs effectively.
Analyst Insight
Monitor the company's ability to convert revenue growth into net income and assess the sustainability of its current operational model.
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Software Sales | 440,991 | 2.0% |
| Professional Fees | 87,531 | -69.0% |
Key Numbers
- 528,522 — Q1 2024 Revenue (Revenue for the three months ended March 31, 2024)
- 484,461 — Q1 2023 Revenue (Revenue for the three months ended March 31, 2023)
- 440,991 — Q1 2024 Software Sales (Software sales for the three months ended March 31, 2024)
- 432,620 — Q1 2023 Software Sales (Software sales for the three months ended March 31, 2023)
- 87,531 — Q1 2024 Professional Fees (Professional fees for the three months ended March 31, 2024)
- 51,841 — Q1 2023 Professional Fees (Professional fees for the three months ended March 31, 2023)
- 2,180,485 — Total Assets (Q1 2024) (Total assets as of March 31, 2024)
- 2,013,180 — Total Assets (FY 2023) (Total assets as of December 31, 2023)
Key Players & Entities
- WAVEDANCER, INC. (company) — COMPANY CONFORMED NAME
- 7372 (other) — STANDARD INDUSTRIAL CLASSIFICATION
- DE (other) — STATE OF INCORPORATION
- 7033833000 (other) — BUSINESS PHONE
- INFORMATION ANALYSIS INC (company) — FORMER COMPANY
- Summit Community Bank (company) — Revolving Credit Facility Member
- GMDCMember (other) — Member
- Prime Contracts with US Government Agencies (other) — Product Concentration Risk Member
FAQ
When did WAVEDANCER, INC. file this 10-Q?
WAVEDANCER, INC. filed this Quarterly Report (10-Q) with the SEC on May 14, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by WAVEDANCER, INC. (AIFF).
Where can I read the original 10-Q filing from WAVEDANCER, INC.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by WAVEDANCER, INC..
What are the key takeaways from WAVEDANCER, INC.'s 10-Q?
WAVEDANCER, INC. filed this 10-Q on May 14, 2024. Key takeaways: Wavedancer, Inc. reported Q1 2024 revenue of $528,522, a decrease from $484,461 in Q1 2023.. Software sales for Q1 2024 were $440,991, compared to $432,620 in Q1 2023.. Professional fees for Q1 2024 were $87,531, a decrease from $51,841 in Q1 2023..
Is WAVEDANCER, INC. a risky investment based on this filing?
Based on this 10-Q, WAVEDANCER, INC. presents a moderate-risk profile. The company has consistently reported net losses, indicating a potential struggle to achieve sustainable profitability and manage operational costs effectively.
What should investors do after reading WAVEDANCER, INC.'s 10-Q?
Monitor the company's ability to convert revenue growth into net income and assess the sustainability of its current operational model. The overall sentiment from this filing is mixed.
Filing Stats: 4,553 words · 18 min read · ~15 pages · Grade level 14.1 · Accepted 2024-05-14 16:00:56
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share WAVD The NASDAQ Stock Mar
- $3,000,000 — ck issuance to other GMDC investors for $3,000,000 in cash and application of an option pr
Filing Documents
- wavd20240331c_10q.htm (10-Q) — 758KB
- ex_657124.htm (EX-31.1) — 14KB
- ex_657125.htm (EX-31.2) — 14KB
- ex_657126.htm (EX-32.1) — 6KB
- ex_657127.htm (EX-32.2) — 6KB
- pic1.jpg (GRAPHIC) — 4KB
- 0001437749-24-016602.txt ( ) — 4802KB
- wavd-20240331.xsd (EX-101.SCH) — 51KB
- wavd-20240331_cal.xml (EX-101.CAL) — 44KB
- wavd-20240331_def.xml (EX-101.DEF) — 350KB
- wavd-20240331_lab.xml (EX-101.LAB) — 303KB
- wavd-20240331_pre.xml (EX-101.PRE) — 375KB
- wavd20240331c_10q_htm.xml (XML) — 618KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 4.
Controls and Procedures
Controls and Procedures 23 PART II. OTHER INFORMATION 24 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
SIGNATURES
SIGNATURES 26 2 Table of Contents WaveDancer, Inc. Form 10-Q March 31, 2024
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements WAVEDANCER, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) March 31, 2024 December 31, 2023 ASSETS Current assets Cash and cash equivalents $ 563,324 $ 681,995 Accounts receivable 776,025 1,117,862 Prepaid expenses and other current assets 220,594 267,351 Total current assets 1,559,943 2,067,208 Intangible assets, net of accumulated amortization of $ 528,522 and $ 484,461 , respectively 961,478 1,005,539 Goodwill 1,125,101 1,125,101 Right-of-use operating lease asset 50,154 245,569 Property and equipment, net of accumulated depreciation and amortization of $ 440,991 and $ 432,620 , respectively 49,628 57,999 Other assets 18,419 18,419 Total assets $ 3,764,723 $ 4,519,835 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 662,318 $ 403,441 Revolving line of credit 500,000 500,000 Accrued payroll and related liabilities 541,777 615,766 Commissions payable - 30,223 Income taxes payable 3,450 3,450 Other accrued liabilities 168,658 267,604 Contract liabilities 85,035 114,540 Operating lease liabilities - current 78,778 163,282 Total current liabilities 2,040,016 2,098,306 Operating lease liabilities - non-current - 136,652 Deferred tax liabilities, net 16,187 16,187 Total liabilities 2,056,203 2,251,145 Stockholders' equity Common stock, $ 0.001 par value 100,000,000 shares authorized; 2,180,485 shares issued, 2,013,180 shares outstanding as of March 31, 2024 and December 31, 2023 2,180 2,180 Additional paid-in capital 36,570,737 36,456,957 Accumulated deficit ( 33,899,186 ) ( 33,225,236 ) Treasury stock, 167,305 shares at cost, as of March 31, 2024 and December 31, 2023 ( 965,211 ) ( 965,211 ) Total stockholders' equity 1,708,520 2,268,690 Total liabilities and stockholders' equity $ 3,764,723 $ 4,519,835 The accompanying notes are an integral part of the unaudited condensed consolidated financial statement