Superior Drilling Products, Inc.: 10-Q filed 2022-11-14
What Superior Drilling Products, Inc. reported in its quarterly report filed 2022-11-14 (fiscal Q3 2022): 45 published measures, 129 facts as tagged in accession 0001493152-22-031844.
This filing
- Form
- 10-Q (quarterly report)
- Filed
- 2022-11-14
- Fiscal period
- fiscal Q3 2022
- Accession
- 0001493152-22-031844 on SEC EDGAR
Values are as tagged in this filing. A later filing can restate them; each measure links to its history page, which shows the latest-filed value per period. All Superior Drilling Products, Inc. filings.
Reported measures
Total assets
Resources recognized on the balance sheet. Book assets are not the market value of the business.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 18,314,328 | USD | |
| At 2021-12-31 | 14,612,259 | USD |
Total liabilities
Recognized obligations at the reporting date. The definition and scope differ from interest-bearing debt.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 10,793,521 | USD | |
| At 2021-12-31 | 8,464,331 | USD |
Stockholders equity
The reported residual interest after liabilities. It is an accounting amount, not market capitalization.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 7,520,807 | USD | |
| At 2022-06-30 | 6,663,858 | USD | |
| At 2022-03-31 | 6,507,898 | USD | |
| At 2021-12-31 | 6,147,928 | USD | |
| At 2021-09-30 | 3,579,489 | USD | |
| At 2021-06-30 | 3,389,606 | USD | |
| At 2021-03-31 | 3,289,354 | USD | |
| At 2020-12-31 | 4,223,675 | USD |
Cash and cash equivalents
Cash and qualifying short-term liquid investments under the filer’s accounting policy. Restricted cash and longer-term investments may be reported separately.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 2,046,754 | USD | |
| At 2021-12-31 | 2,822,100 | USD |
Net income or loss
Reported profit or loss for the period. Check the filing for attribution, exceptional items and discontinued operations before comparing companies.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-07-01 to 2022-09-30 | 638,732 | USD | 92 |
| 2022-01-01 to 2022-09-30 | 732,060 | USD | 273 |
| 2022-04-01 to 2022-06-30 | -56,508 | USD | 91 |
| 2022-01-01 to 2022-03-31 | 149,837 | USD | 90 |
| 2021-07-01 to 2021-09-30 | -6,210 | USD | 92 |
| 2021-01-01 to 2021-09-30 | -1,174,785 | USD | 273 |
| 2021-04-01 to 2021-06-30 | -66,781 | USD | 91 |
| 2021-01-01 to 2021-03-31 | -1,101,793 | USD | 90 |
Operating cash flow
Cash generated or used by operating activities. Working-capital timing can make this differ substantially from reported income.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-01-01 to 2022-09-30 | 1,336,573 | USD | 273 |
| 2021-01-01 to 2021-09-30 | 1,391,741 | USD | 273 |
Capital expenditure payments
Cash payments to acquire property, plant and equipment. This taxonomy concept does not capture every form of investment or acquisition.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-01-01 to 2022-09-30 | 2,600,902 | USD | 273 |
| 2021-01-01 to 2021-09-30 | 589,099 | USD | 273 |
Revenue
Revenue under this specific accounting concept. A missing value is not zero; filers can use other revenue concepts.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-07-01 to 2022-09-30 | 5,172,545 | USD | 92 |
| 2022-01-01 to 2022-09-30 | 13,843,552 | USD | 273 |
| 2021-07-01 to 2021-09-30 | 3,561,919 | USD | 92 |
| 2021-01-01 to 2021-09-30 | 9,385,680 | USD | 273 |
Contract revenue excluding tax
Revenue from customer contracts excluding assessed taxes under this specific taxonomy concept. It is not automatically comparable to older revenue tags.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-07-01 to 2022-09-30 | 5,172,545 | USD | 92 |
| 2022-01-01 to 2022-09-30 | 13,843,552 | USD | 273 |
| 2021-07-01 to 2021-09-30 | 3,561,919 | USD | 92 |
| 2021-01-01 to 2021-09-30 | 9,385,680 | USD | 273 |
Financing cash flow
Net cash from financing activities, including borrowing, repayments and transactions with owners. A positive amount does not establish operating profitability.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-01-01 to 2022-09-30 | 488,983 | USD | 273 |
| 2021-01-01 to 2021-09-30 | -344,685 | USD | 273 |
Investing cash flow
Net cash from investing activities, including asset purchases, disposals and investment transactions. This differs from capital expenditure payments alone.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-01-01 to 2022-09-30 | -2,600,902 | USD | 273 |
| 2021-01-01 to 2021-09-30 | -539,099 | USD | 273 |
Retained earnings or deficit
Accumulated undistributed earnings or deficit at the reporting date. This balance is not cash available for distribution.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | -36,219,447 | USD | |
| At 2021-12-31 | -36,951,508 | USD |
Basic weighted-average shares
Time-weighted shares used for basic earnings per share. This denominator differs from shares outstanding at a single reporting date.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-07-01 to 2022-09-30 | 28,845,456 | shares | 92 |
| 2022-01-01 to 2022-09-30 | 28,440,722 | shares | 273 |
| 2021-07-01 to 2021-09-30 | 26,154,202 | shares | 92 |
| 2021-01-01 to 2021-09-30 | 25,894,397 | shares | 273 |
Diluted weighted-average shares
Weighted-average shares used for diluted earnings per share. Potential shares are included under the applicable dilution rules, not simply added to outstanding shares.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-07-01 to 2022-09-30 | 28,855,456 | shares | 92 |
| 2022-01-01 to 2022-09-30 | 28,450,722 | shares | 273 |
| 2021-07-01 to 2021-09-30 | 26,154,202 | shares | 92 |
| 2021-01-01 to 2021-09-30 | 25,894,397 | shares | 273 |
Basic earnings per share
Reported earnings or loss per basic common share or unit. Inspect attribution, share classes and restatements before comparing periods. This is not a market return.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-07-01 to 2022-09-30 | 0.02 | USD/shares | 92 |
| 2022-01-01 to 2022-09-30 | 0.03 | USD/shares | 273 |
| 2021-07-01 to 2021-09-30 | 0 | USD/shares | 92 |
| 2021-01-01 to 2021-09-30 | -0.05 | USD/shares | 273 |
Diluted earnings per share
Reported earnings or loss per share under dilution rules. Antidilutive instruments may be excluded. A diluted value can equal the basic value without implying no potential dilution.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-07-01 to 2022-09-30 | 0.02 | USD/shares | 92 |
| 2022-01-01 to 2022-09-30 | 0.03 | USD/shares | 273 |
| 2021-07-01 to 2021-09-30 | 0 | USD/shares | 92 |
| 2021-01-01 to 2021-09-30 | -0.05 | USD/shares | 273 |
Income tax expense or benefit
Current and deferred income tax expense or benefit for continuing operations. This accounting expense differs from cash taxes paid.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-07-01 to 2022-09-30 | 44,169 | USD | 92 |
| 2022-01-01 to 2022-09-30 | 107,852 | USD | 273 |
| 2021-07-01 to 2021-09-30 | 39,327 | USD | 92 |
| 2021-01-01 to 2021-09-30 | 82,976 | USD | 273 |
Net property, plant and equipment
Carrying amount of property, plant and equipment after accumulated depreciation, depletion and amortization. It is not replacement cost or market value.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 8,427,003 | USD | |
| At 2021-12-31 | 6,930,329 | USD |
Share-based compensation expense
Reported noncash expense for share-based payment arrangements. Noncash treatment does not mean the awards have no economic cost to shareholders.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-01-01 to 2022-09-30 | 640,816 | USD | 273 |
| 2021-01-01 to 2021-09-30 | 530,595 | USD | 273 |
Operating income or loss
Operating revenue less operating expenses for the reporting period. It excludes items outside the reported operating result and is not free cash flow.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-07-01 to 2022-09-30 | 855,846 | USD | 92 |
| 2022-01-01 to 2022-09-30 | 1,288,426 | USD | 273 |
| 2021-07-01 to 2021-09-30 | 163,289 | USD | 92 |
| 2021-01-01 to 2021-09-30 | -676,971 | USD | 273 |
Current assets
Assets classified as current under the normal operating cycle or one-year boundary. Not all current assets can be converted immediately into cash.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 8,976,022 | USD | |
| At 2021-12-31 | 7,359,421 | USD |
Interest expense
Borrowing costs recognized as interest expense. This is distinct from cash interest paid and may not include every capitalized borrowing cost.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-07-01 to 2022-09-30 | 154,108 | USD | 92 |
| 2022-01-01 to 2022-09-30 | 410,707 | USD | 273 |
| 2021-07-01 to 2021-09-30 | 130,221 | USD | 92 |
| 2021-01-01 to 2021-09-30 | 413,798 | USD | 273 |
Current liabilities
Obligations classified as current under the operating-cycle or one-year boundary. The balance includes more than short-term borrowing.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 4,913,216 | USD | |
| At 2021-12-31 | 4,088,196 | USD |
Current accounts payable
Current amounts owed to suppliers for goods and services received. This is one component of current liabilities, not all accrued obligations.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 1,264,952 | USD | |
| At 2021-12-31 | 1,139,091 | USD |
Net finite-lived intangible assets
Finite-lived intangible assets after amortization. This excludes goodwill and should not be combined with indefinite-lived intangible assets without checking scope.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 111,111 | USD | |
| At 2021-12-31 | 236,111 | USD |
Net current accounts receivable
Current customer receivables after the allowance for credit loss. The balance is not cash collected or a guarantee of collection.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 4,083,645 | USD | |
| At 2021-12-31 | 2,871,932 | USD |
Net inventory
Inventory carrying amount after applicable valuation and LIFO reserves. It does not establish realizable selling proceeds or inventory turnover without other inputs.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 1,623,051 | USD | |
| At 2021-12-31 | 1,174,635 | USD |
Selling, general and administrative expense
Selling and general administrative costs reported under this concept. It is an expense category, not a substitute for total operating expenses.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-07-01 to 2022-09-30 | 1,723,221 | USD | 92 |
| 2022-01-01 to 2022-09-30 | 5,264,270 | USD | 273 |
| 2021-07-01 to 2021-09-30 | 1,551,462 | USD | 92 |
| 2021-01-01 to 2021-09-30 | 4,540,134 | USD | 273 |
Common shares outstanding
Common shares outstanding at the reporting date. This point-in-time count differs from the weighted-average shares used for earnings per share and can exclude other share classes.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 29,245,080 | shares | |
| At 2021-12-31 | 28,235,001 | shares |
Operating lease right-of-use asset
Carrying amount of the right to use leased assets under operating leases. It reflects discounted remaining payments, not the value of the underlying property.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 688,673 | USD | |
| At 2021-12-31 | 20,518 | USD |
Operating lease liability
Present value of remaining operating lease payments. Discount-rate choices and lease terms affect the amount; it is not the sum of undiscounted future rent.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 572,270 | USD |
Long-term debt
Long-term borrowings under this concept, which can include the current portion depending on presentation. It is not total liabilities and may exclude leases and other obligations.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 3,003,765 | USD | |
| At 2021-12-31 | 2,452,434 | USD |
Gross property, plant and equipment
Cost of property, plant and equipment before accumulated depreciation. Historical cost does not indicate current value or replacement cost.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 21,561,512 | USD | |
| At 2021-12-31 | 19,501,511 | USD |
Accumulated depreciation on property, plant and equipment
Cumulative depreciation, depletion and amortization recorded against property, plant and equipment. It measures cost allocation to date, not physical wear or market value.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 13,134,509 | USD | |
| At 2021-12-31 | 12,571,182 | USD |
Net intangible assets excluding goodwill
Intangible assets other than goodwill after amortization and impairment. Internally developed intangibles are usually not recognized, so this understates what a company relies on.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 111,111 | USD | |
| At 2021-12-31 | 236,111 | USD |
Other noncurrent assets
Noncurrent assets the filer does not present separately. The composition differs by filer and is described only in the filing.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 111,519 | USD | |
| At 2021-12-31 | 65,880 | USD |
Accrued current liabilities
Current obligations accrued for goods and services received but not yet invoiced or paid. This is one component of current liabilities, not all short-term obligations.
| Period | Value | Unit | Days |
|---|---|---|---|
| At 2022-09-30 | 883,572 | USD | |
| At 2021-12-31 | 467,462 | USD |
Pre-tax income or loss from continuing operations
Income or loss from continuing operations before income taxes and noncontrolling interests. It excludes discontinued operations and is not net income.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-07-01 to 2022-09-30 | 682,901 | USD | 92 |
| 2022-01-01 to 2022-09-30 | 839,912 | USD | 273 |
| 2021-07-01 to 2021-09-30 | 33,117 | USD | 92 |
| 2021-01-01 to 2021-09-30 | -1,091,809 | USD | 273 |
Depreciation expense
Depreciation recognized for the period under this concept. It is a noncash allocation of asset cost and may exclude amortization and depletion reported elsewhere.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-07-01 to 2022-09-30 | 321,106 | USD | 92 |
| 2022-01-01 to 2022-09-30 | 1,051,151 | USD | 273 |
| 2021-07-01 to 2021-09-30 | 363,558 | USD | 92 |
| 2021-01-01 to 2021-09-30 | 1,139,137 | USD | 273 |
Depreciation, depletion and amortization
Combined depreciation, depletion and amortization for the period. A noncash allocation of asset cost, not a measure of maintenance spending.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-01-01 to 2022-09-30 | 1,176,151 | USD | 273 |
| 2021-01-01 to 2021-09-30 | 1,680,804 | USD | 273 |
Amortization of intangible assets
Amortization recognized on finite-lived intangible assets. It follows acquisition accounting and does not indicate the intangibles are losing usefulness at that rate.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-07-01 to 2022-09-30 | 41,667 | USD | 92 |
| 2022-01-01 to 2022-09-30 | 125,000 | USD | 273 |
| 2021-07-01 to 2021-09-30 | 41,667 | USD | 92 |
| 2021-01-01 to 2021-09-30 | 541,667 | USD | 273 |
Nonoperating income or expense
Total nonoperating income or expense, which can include interest, investment results and other items. A positive value is not operating profit.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-07-01 to 2022-09-30 | -172,945 | USD | 92 |
| 2022-01-01 to 2022-09-30 | -448,514 | USD | 273 |
| 2021-07-01 to 2021-09-30 | -130,172 | USD | 92 |
| 2021-01-01 to 2021-09-30 | -414,838 | USD | 273 |
Interest paid, net
Cash interest paid during the period, net of amounts capitalized where the filer reports it that way. It differs from interest expense recognized.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-01-01 to 2022-09-30 | 394,548 | USD | 273 |
| 2021-01-01 to 2021-09-30 | 410,492 | USD | 273 |
Change in accounts receivable
The cash flow adjustment for the change in receivables during the period. A positive value under this concept means receivables grew and reduced operating cash flow.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-01-01 to 2022-09-30 | 1,211,713 | USD | 273 |
| 2021-01-01 to 2021-09-30 | 700,451 | USD | 273 |
Change in inventories
The cash flow adjustment for the change in inventories during the period. A positive value under this concept means inventory grew and reduced operating cash flow.
| Period | Value | Unit | Days |
|---|---|---|---|
| 2022-01-01 to 2022-09-30 | 446,866 | USD | 273 |
| 2021-01-01 to 2021-09-30 | 37,631 | USD | 273 |
Inspect the source
- Entity
- Superior Drilling Products, Inc. / CIK 0001600422
- Captured
- SEC response SHA-256
40740cb405fbd8a15d25356e4682c1b49507354a15afb66344dc881f5c2db550
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