Reliability Inc. Files 10-Q for Mid-2025
Ticker: RLBY · Form: 10-Q · Filed: Aug 14, 2025 · CIK: 34285
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
RELIABILITY INC 10-Q FILED: Q2 2025 financials out. Check it.
AI Summary
Reliability Inc. filed its 10-Q for the period ending June 30, 2025. The company, formerly Fairlane Industries Inc., is based in Clarksburg, MD, and operates in the Help Supply Services sector. The filing covers financial data for the fiscal year ending December 31, 2025, with specific reporting periods including Q2 2025 and the first six months of 2025.
Why It Matters
This filing provides investors and analysts with the latest financial performance and position of Reliability Inc. for the second quarter and first half of 2025.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant risks.
Key Numbers
- 20250630 — Period End Date (Financials reported up to this date for Q2 2025.)
- 20250814 — Filing Date (Date the report was submitted to the SEC.)
Key Players & Entities
- RELIABILITY INC (company) — Filer
- FAIRLANE INDUSTRIES INC (company) — Former company name
- 20250630 (date) — Conformed period of report
- 20250814 (date) — Filed as of date
- 22505 GATEWAY CENTER DRIVE (address) — Business and mail address
- CLARKSBURG (location) — City
- MD (location) — State
- 750868913 (identifier) — EIN
FAQ
What is the reporting period for this 10-Q filing?
The conformed period of report is 20250630, covering the second quarter and the first six months of fiscal year 2025.
What was the company's former name?
The company was formerly known as FAIRLANE INDUSTRIES INC.
Where is Reliability Inc. headquartered?
Reliability Inc.'s business and mail address is 22505 GATEWAY CENTER DRIVE, P.O. BOX 71, CLARKSBURG, MD 20871.
What is the company's Standard Industrial Classification (SIC) code?
The SIC code for Reliability Inc. is 7363, categorized under SERVICES-HELP SUPPLY SERVICES.
When is Reliability Inc.'s fiscal year end?
Reliability Inc.'s fiscal year ends on 1231.
Filing Stats: 4,686 words · 19 min read · ~16 pages · Grade level 14.1 · Accepted 2025-08-14 16:53:01
Key Financial Figures
- $1,405 — under the agreement. This compares to $1,405 in proceeds and $1,362 in repayments f
- $1,362 — his compares to $1,405 in proceeds and $1,362 in repayments for the period ended June
Filing Documents
- form10-q.htm (10-Q) — 560KB
- ex31-1.htm (EX-31.1) — 11KB
- ex31-2.htm (EX-31.2) — 11KB
- ex32-1.htm (EX-32.1) — 6KB
- form10-q_001.jpg (GRAPHIC) — 2KB
- 0001641172-25-024116.txt ( ) — 3049KB
- rlby-20250630.xsd (EX-101.SCH) — 25KB
- rlby-20250630_cal.xml (EX-101.CAL) — 37KB
- rlby-20250630_def.xml (EX-101.DEF) — 89KB
- rlby-20250630_lab.xml (EX-101.LAB) — 204KB
- rlby-20250630_pre.xml (EX-101.PRE) — 158KB
- form10-q_htm.xml (XML) — 353KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 3 Item 1.
Financial Statements
Financial Statements 3 Unaudited Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024 3 Unaudited Consolidated Statements of Operations for the Three Months Ended June 30, 2025 and 2024 4 Unaudited Consolidated Statements of Operations for the Six Months Ended June 30, 2025 and 2024 5 Unaudited Consolidated Statements of Changes in Shareholders' Equity for the Six Months Ended June 30, 2025 and 2024 6 Unaudited Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2025 and 2024 7 Notes to Unaudited Consolidated Financial Statements 9-16 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 17-22 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 22 Item 4.
Controls and Procedures
Controls and Procedures 22
OTHER INFORMATION
PART II. OTHER INFORMATION 23 Item 1.
Legal Proceedings
Legal Proceedings 23 Item 1a.
Risk Factors
Risk Factors 23 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 24
Signatures
Signatures 25 Exhibits 26 2 PART I. FINANCIAL INFORMATION Item 1. Financial Statements RELIABILITY INCORPORATED AND SUBSIDIARY UNAUDITED CONSOLIDATED BALANCE SHEETS (amounts in thousands, except per share data) June 30, December 31, 2025 2024 ASSETS CURRENT ASSETS Cash and cash equivalents $ 262 $ 522 Trade receivables, net of allowance for credit losses 2,652 4,785 Other receivables 19 4 Notes receivable from related parties 6,100 5,847 Prepaid expenses and other current assets 291 336 Total current assets 9,324 11,494 Other intangible assets, net 2 2 Property, plant and equipment, net 55 60 Total assets $ 9,381 $ 11,556 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Factoring liability $ 827 $ 2,375 Accounts payable 345 734 Accrued expenses 129 288 Accrued payroll 999 568 Deferred revenue 212 207 Note payable, current 39 26 Total current liabilities 2,551 4,198 LONG-TERM LIABILITIES Note payable, net of current 31 21 Total long-term liabilities 31 21 Total liabilities 2,582 4,219 Commitment and contingencies (Note 6) - - STOCKHOLDERS' EQUITY Common stock, without par value, 300,000,000 shares authorized, 300,000,000 issued and outstanding as of June 30, 2025 and December 31, 2024 - Additional paid-in capital 750 750 Retained earnings 6,049 6,587 Total stockholders' equity 6,799 7,337 Total liabilities and stockholders' equity $ 9,381 $ 11,556 The accompanying notes are an integral part of these statements. 3 RELIABILITY INCORPORATED AND SUBSIDIARY UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (amounts in thousands, except per share data) 2025 2024 For the Three Months Ended June 30, 2025 2024 Revenue earned Service revenue $ 4,718 $ 6,041 Cost of revenue Cost of revenue 4,005 5,237 Gross profit 713 804 Selling, general, and administrative expenses 966 986 Operating loss ( 253 ) (