GIGA · Giga Tronics Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q1 '22 | Q2 '22 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.57M | - | $10.37M | $8.78M | $1.93M | - | $7.78M | $3.55M | $3.57M | - |
| Cost of Revenue | $7.69M | - | $7.27M | $6.30M | $1.52M | - | $4.03M | $1.25M | $2.25M | $2.03M |
| Gross Profit | $1.89M | - | $3.10M | $1.69M | $414.0K | - | $2.33M | $800.0K | $1.32M | $1.51M |
| R&D | $782.0K | - | $675.0K | $425.0K | $298.0K | - | $453.0K | $402.0K | $234.0K | $437.0K |
| SG&A | $3.25M | - | $2.60M | $2.43M | $1.16M | - | $1.30M | $1.10M | $1.05M | $969.0K |
| Total Operating Expenses | $4.64M | - | $3.67M | $3.63M | $1.62M | - | $3.20M | $1.50M | $1.28M | $1.41M |
| D&A | $186.0K | - | $117.0K | $219.0K | $39.0K | - | $117.0K | $52.0K | $65.0K | $42.0K |
| Operating Income | ($2.76M) | - | ($569.0K) | ($1.15M) | ($1.21M) | - | $72.0K | ($700.0K) | $37.0K | $108.0K |
| Interest Expense | - | - | - | - | - | - | - | - | - | $33.0K |
| Income Tax | ($49.0K) | - | $208.0K | $7.0K | $0 | - | ($10.0K) | $0 | $7.0K | $0 |
| Net Income | ($4.41M) | - | ($1.91M) | ($2.64M) | ($1.25M) | - | ($426.0K) | ($814.0K) | $64.0K | $75.0K |
| EPS - Basic | ($0.70) | - | ($0.32) | ($0.45) | ($0.45) | - | ($0.15) | ($0.32) | $0.02 | $0.03 |
| EPS - Diluted | ($0.70) | - | ($0.32) | ($0.56) | ($0.45) | - | ($0.20) | ($0.32) | $0.02 | $0.03 |
Balance Sheet
| Line item | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q1 '22 | Q2 '22 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.57M | $3.60M | $2.05M | $1.70M | $2.50M | $2.19M | $2.08M | $25.0K | $648.0K | $736.0K |
| Accounts Receivable | $4.31M | $4.29M | $6.39M | $6.06M | $5.40M | $5.50M | $4.55M | $530.0K | $1.30M | $801.0K |
| Inventory | $6.24M | $6.38M | $7.34M | $8.13M | $7.96M | $7.70M | $10.31M | $4.85M | $4.45M | $3.60M |
| Accounts Payable | - | - | - | - | $1.42M | - | $1.17M | $1.53M | $1.17M | $1.04M |
| Current Assets | $19.26M | $19.19M | $19.75M | $19.16M | $20.23M | $19.74M | $21.43M | $6.85M | $7.75M | $6.36M |
| Total Assets | $31.81M | $31.93M | $37.06M | $32.10M | $38.75M | $38.95M | $48.27M | $8.05M | $9.10M | $7.85M |
| Current Liabilities | $22.88M | $20.13M | $18.52M | $16.18M | $15.80M | $14.03M | $7.69M | $4.11M | $3.31M | $2.90M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | $0 |
| Total Liabilities | $39.51M | $35.00M | $31.61M | $29.54M | $28.71M | $27.61M | $25.31M | $4.33M | $3.76M | $3.60M |
| Stockholders' Equity | ($8.08M) | ($3.60M) | $4.63M | $6.91M | $9.31M | $10.63M | $21.44M | $3.73M | $5.34M | $4.25M |
| Retained Earnings | ($47.23M) | ($42.82M) | ($34.75M) | ($32.83M) | ($30.19M) | ($27.73M) | ($12.85M) | ($33.95M) | ($31.98M) | ($30.98M) |
Cash Flow
| Line item | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q1 '22 | Q2 '22 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $132.0K | - | - | - | ($716.0K) | - | - | ($699.0K) | - | ($439.0K) |
| Investing Cash Flow | ($237.0K) | - | - | - | ($41.0K) | - | - | - | - | - |
| Financing Cash Flow | $584.0K | - | - | - | $1.13M | - | - | $993.0K | - | $424.0K |
| CapEx | $237.0K | - | - | - | $41.0K | - | - | - | - | - |
| Free Cash Flow | ($105.0K) | - | - | - | ($757.0K) | - | - | - | - | - |
Ratios
| Metric | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q1 '22 | Q2 '22 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 19.7% | - | 29.9% | 19.2% | 21.5% | - | 30.0% | 22.5% | 37.0% | - |
| Operating margin | -28.8% | - | -5.5% | -13.1% | -62.7% | - | 0.9% | -19.7% | 1.0% | - |
| EBITDA margin | -26.9% | - | -4.4% | -10.6% | -60.7% | - | 2.4% | -18.3% | 2.9% | - |
| Net margin | -46.0% | - | -18.5% | -30.1% | -64.6% | - | -5.5% | -22.9% | 1.8% | - |
| Free cash flow margin | -1.1% | - | - | - | -39.2% | - | - | - | - | - |
| FCF / Net income | 0.02 | - | - | - | 0.61 | - | - | - | - | - |
| R&D / Revenue | 8.2% | - | 6.5% | 4.8% | 15.4% | - | 5.8% | 11.3% | 6.6% | - |
| SG&A / Revenue | 33.9% | - | 25.0% | 27.7% | 60.2% | - | 16.7% | 30.9% | 29.4% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | 9.9% | 0.0% |
| Return on assets | -13.9% | - | -5.2% | -8.2% | -3.2% | - | -0.9% | -10.1% | 0.7% | 1.0% |
| Return on equity | 54.5% | - | -41.4% | -38.3% | -13.4% | - | -2.0% | -21.9% | 1.2% | 1.8% |
| Return on invested capital | - | - | - | - | - | - | - | - | - | 2.5% |
| Liquidity | ||||||||||
| Current ratio | 0.84 | 0.95 | 1.07 | 1.18 | 1.28 | 1.41 | 2.79 | 1.67 | 2.34 | 2.19 |
| Quick ratio | 0.57 | 0.64 | 0.67 | 0.68 | 0.78 | 0.86 | 1.45 | 0.49 | 1.00 | 0.95 |
| Cash ratio | 0.16 | 0.18 | 0.11 | 0.10 | 0.16 | 0.16 | 0.27 | 0.01 | 0.20 | 0.25 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | 0.00 |
| Debt / Assets | - | - | - | - | - | - | - | - | - | 0.00 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | 0.00 |
| Interest coverage | - | - | - | - | - | - | - | - | - | 3.3x |
| Equity multiplier | -3.94 | -8.87 | 8.01 | 4.65 | 4.16 | 3.67 | 2.25 | 2.16 | 1.70 | 1.85 |
| Liabilities / Assets | 1.24 | 1.10 | 0.85 | 0.92 | 0.74 | 0.71 | 0.52 | 0.54 | 0.41 | 0.46 |
| Efficiency | ||||||||||
| Asset turnover | 0.30 | - | 0.28 | 0.27 | 0.05 | - | 0.16 | 0.44 | 0.39 | - |
| Inventory turnover | 1.23 | - | 0.99 | 0.77 | 0.19 | - | 0.39 | 0.26 | 0.51 | 0.56 |
| Days sales outstanding | 164d | - | 225d | 252d | 1020d | - | 214d | 55d | 133d | - |
| Days inventory outstanding | 296d | - | 369d | 471d | 1917d | - | 934d | 1417d | 722d | 646d |
| Days payable outstanding | - | - | - | - | 343d | - | 106d | 447d | 191d | 187d |
| Cash conversion cycle | - | - | - | - | 2595d | - | 1042d | 1025d | 664d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 396.0% | - | 33.3% | 146.1% | -45.6% | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | 26.4% | 31.4% | -0.6% | - | 19.4% | 0.6% | -4.1% | - |
| Gross profit growth (YoY) | 355.6% | - | 32.9% | 27.8% | -48.3% | - | 49.9% | -47.2% | 26.9% | -1.0% |
| Operating income growth (YoY) | -127.9% | - | - | - | -72.9% | - | 14.3% | - | - | -15.6% |
| Net income growth (YoY) | -253.7% | - | -349.3% | - | -53.1% | - | - | - | - | 400.0% |
| EPS growth (YoY) | -55.6% | - | -60.0% | - | -40.6% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 86.1% | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | - | - | -78.4% | 29.3% | 150.0% | - | 335.0% | -12.3% | 32.4% | -1.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2023-12-31.
Business segments
$37.83M totalPrecision Electronic Solutions$19.59M · 51.8%
Power Electronics Displays$10.04M · 26.5%
Rf Solutions$8.20M · 21.7%
Peer comparison
Same SIC group: Instruments For Meas & Testing of Electricity & Elec Signals
Comparing GIGA TRONICS INC against the 5 most active filers in the same SIC group.