IWSY · Imageware Systems 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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Revenue | $3.47M | $4.79M | $3.51M | $4.29M | $4.29M | $3.81M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | $2.80M | $3.54M | $2.86M | $3.53M | $3.30M | $2.74M |
| R&D | $4.46M | $5.71M | $7.49M | $7.35M | $5.95M | $5.33M |
| SG&A | $6.15M | $4.10M | $3.61M | $4.29M | $4.19M | $3.72M |
| Total Operating Expenses | $13.56M | $12.82M | $15.11M | $15.26M | $13.03M | $12.20M |
| D&A | $47.0K | $60.0K | $59.0K | $39.0K | $56.0K | $117.00M |
| Operating Income | ($10.76M) | ($9.28M) | ($12.25M) | ($11.73M) | ($9.73M) | ($9.46M) |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $10.0K | $7.0K | $10.0K | $11.0K | ($124.0K) | $21.0K |
| Net Income | $9.28M | ($7.25M) | ($11.58M) | ($12.55M) | ($10.07M) | ($9.53M) |
| EPS - Basic | $0.00 | ($0.08) | ($0.17) | ($0.17) | ($0.15) | ($0.12) |
| EPS - Diluted | ($0.08) | - | - | - | - | - |
Balance Sheet
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.20M | $8.35M | $1.03M | $5.69M | $7.32M | $1.59M |
| Accounts Receivable | $383.0K | $577.0K | $657.0K | $968.0K | $458.0K | $287.0K |
| Inventory | $25.0K | $40.0K | $615.0K | $29.0K | $79.0K | $23.0K |
| Accounts Payable | $837.0K | $1.01M | $515.0K | $678.0K | $457.0K | $425.0K |
| Current Assets | $1.82M | $9.16M | $2.54M | $6.92M | $8.02M | $2.03M |
| Total Assets | $6.32M | $14.80M | $8.41M | $11.00M | $11.60M | $5.68M |
| Current Liabilities | $9.87M | $28.51M | $4.20M | $3.85M | $8.43M | $5.04M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $12.65M | $33.05M | $8.29M | $5.87M | $10.46M | $6.94M |
| Stockholders' Equity | ($15.09M) | ($19.82M) | ($8.76M) | ($3.03M) | $1.15M | ($1.26M) |
| Retained Earnings | ($204.25M) | ($213.22M) | ($203.17M) | ($186.65M) | ($170.48M) | ($156.77M) |
Cash Flow
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($7.74M) | ($8.01M) | ($11.27M) | ($10.31M) | ($8.70M) | ($7.91M) |
| Investing Cash Flow | ($53.0K) | $0 | ($31.0K) | ($240.0K) | $45.0K | ($49.0K) |
| Financing Cash Flow | $572.0K | $15.47M | $6.63M | $8.90M | $14.49M | $6.20M |
| CapEx | $53.0K | $0 | $31.0K | $240.0K | $5.0K | $49.0K |
| Free Cash Flow | ($7.79M) | ($8.01M) | ($11.30M) | ($10.55M) | ($8.71M) | ($7.96M) |
Ratios
| Metric | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 80.8% | 73.9% | 81.7% | 82.2% | 76.9% | 71.9% |
| Operating margin | -309.8% | -193.9% | -349.3% | -273.2% | -226.6% | -248.2% |
| EBITDA margin | -308.4% | -192.7% | -347.6% | -272.3% | -225.3% | 2821.0% |
| Net margin | 267.3% | -151.6% | -330.3% | -292.3% | -234.5% | -249.9% |
| Free cash flow margin | -224.4% | -167.4% | -322.2% | -245.7% | -202.8% | -208.8% |
| FCF / Net income | -0.84 | 1.10 | 0.98 | 0.84 | 0.86 | 0.84 |
| R&D / Revenue | 128.5% | 119.2% | 213.6% | 171.2% | 138.7% | 139.9% |
| SG&A / Revenue | 177.2% | 85.7% | 103.1% | 99.8% | 97.6% | 97.6% |
| Effective tax rate | 0.1% | - | - | - | - | - |
| Return on assets | 147.0% | -49.0% | -137.7% | -114.1% | -86.8% | -167.7% |
| Return on equity | -61.5% | 36.6% | 132.2% | 414.6% | -877.1% | 756.1% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 0.18 | 0.32 | 0.61 | 1.80 | 0.95 | 0.40 |
| Quick ratio | 0.18 | 0.32 | 0.46 | 1.79 | 0.94 | 0.40 |
| Cash ratio | 0.12 | 0.29 | 0.25 | 1.48 | 0.87 | 0.31 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | -0.42 | -0.75 | -0.96 | -3.63 | 10.11 | -4.51 |
| Liabilities / Assets | 2.00 | 2.23 | 0.99 | 0.53 | 0.90 | 1.22 |
| Efficiency | ||||||
| Asset turnover | 0.55 | 0.32 | 0.42 | 0.39 | 0.37 | 0.67 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 40d | 44d | 68d | 82d | 39d | 27d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | 0.8x | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -27.4% | 36.5% | -18.3% | 0.0% | 12.6% | -20.1% |
| Revenue CAGR (3y) | -6.8% | 3.7% | -2.8% | -3.4% | 1.1% | -10.4% |
| Revenue CAGR (5y) | -1.9% | 0.1% | -3.4% | -4.1% | 1.7% | -8.1% |
| Gross profit growth (YoY) | -20.7% | 23.5% | -18.8% | 6.8% | 20.4% | -2.9% |
| Operating income growth (YoY) | -15.9% | 24.2% | -4.4% | -20.6% | -2.8% | -15.2% |
| Net income growth (YoY) | - | 37.4% | 7.7% | -24.6% | -5.7% | -11.6% |
| EPS growth (YoY) | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 2.7% | 29.1% | -7.1% | -21.2% | -9.4% | -9.5% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 23.9% | -126.2% | -189.5% | - | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Product / service
$3.47M totalMaintenance$2.62M · 75.4%
Software And Royalties$383.0K · 11.0%
Hardware And Consumables$290.0K · 8.4%
Service$181.0K · 5.2%
Stability scores
Altman Z′
FY 2021 · bankruptcy risk
-33.55
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2021 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✗Operating cash flow positive
- ✓ROA improved YoY
- ✗Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- -No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Prepackaged Software
Comparing IMAGEWARE SYSTEMS INC against the 5 most active filers in the same SIC group.