10-Q Filing

RICHTECH ROBOTICS INC. CIK: 1963685 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001213900-24-014132`
Period End Date	20231231
Filing Date	20240214
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	f10q1223_richtech_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 36 Cash Flow Statement 50 Stockholders Equity 16

Balance Sheet 53 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, net of allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$333.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$165.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$433.00K	USD	Point-in-time
Accounts receivable, (net of allowance for doubtful accounts of $165 and $333 as of December 31, 2023 and September 30, 2023, respectively)	`AccountsReceivableNetCurrent`	$5.58M	USD	Point-in-time
Accounts receivable, (net of allowance for doubtful accounts of $165 and $333 as of December 31, 2023 and September 30, 2023, respectively)	`AccountsReceivableNetCurrent`	$3.14M	USD	Point-in-time
Inventory	`InventoryNet`	$822.00K	USD	Point-in-time
Inventory	`InventoryNet`	$654.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$7.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$17.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.98M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.50M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$28.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$518.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$518.00K	USD	Point-in-time
Operating lease right-of-use-assets	`OperatingLeaseRightOfUseAsset`	$256.00K	USD	Point-in-time
Operating lease right-of-use-assets	`OperatingLeaseRightOfUseAsset`	$315.00K	USD	Point-in-time
Operating lease right-of-use-assets	`OperatingLeaseRightOfUseAsset`	$315.00K	USD	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$10.00K	USD	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$10.00K	USD	Point-in-time
Total assets	`Assets`	$7.85M	USD	Point-in-time
Total assets	`Assets`	$12.31M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$60.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.13M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$59.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$59.00K	USD	Point-in-time
Short-term loan	`ShortTermBorrowings`	$50.00K	USD	Point-in-time
Short-term loan	`ShortTermBorrowings`	$845.00K	USD	Point-in-time
Tax Payable	`TaxesPayableCurrent`	$461.00K	USD	Point-in-time
Tax Payable	`TaxesPayableCurrent`	$454.00K	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$130.00K	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$161.00K	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$161.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$838.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.89M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$126.00K	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$154.00K	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$154.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$964.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.04M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$4.61M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$13.89M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$201.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$-2.55M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$4.81M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.12M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$11.35M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.92M	USD	Point-in-time
Total liabilities, preferred stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$12.31M	USD	Point-in-time
Total liabilities, preferred stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$7.85M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenue, net	`Revenues`	$946.00K	USD	1 Quarter
Diluted net loss per share of common stock	`EarningsPerShareDiluted`	$-0.04	USD	1 Quarter
Revenue, net	`Revenues`	$1.11M	USD	1 Quarter
Diluted net loss per share of common stock	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Weighted average shares used to compute diluted net loss per share	`WeightedAverageNumberOfDilutedSharesOutstanding`	62.00M	shares	1 Quarter
Weighted average shares used to compute diluted net loss per share	`WeightedAverageNumberOfDilutedSharesOutstanding`	64.31M	shares	1 Quarter
Cost of revenue, net	`CostOfRevenue`	$496.00K	USD	1 Quarter
Cost of revenue, net	`CostOfRevenue`	$446.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$500.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$610.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$834.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$855.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$79.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$595.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$767.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.44M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.70M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.87M	USD	1 Quarter
Gain/(Loss) from operations	`OperatingIncomeLoss`	$-1.20M	USD	1 Quarter
Gain/(Loss) from operations	`OperatingIncomeLoss`	$-2.26M	USD	1 Quarter
Interest expense, net	`InvestmentIncomeInvestmentExpense`	$1.00K	USD	1 Quarter
Interest expense, net	`InvestmentIncomeInvestmentExpense`	$486.00K	USD	1 Quarter
Total other expense	`OtherNonoperatingIncomeExpense`	$-486.00K	USD	1 Quarter
Total other expense	`OtherNonoperatingIncomeExpense`	$-1.00K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.75M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.20M	USD	1 Quarter
Income tax benefit/(expense)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit/(expense)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.20M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.75M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.20M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.75M	USD	1 Quarter
Basic net loss per share of common stock (in Dollars per share)	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic net loss per share of common stock (in Dollars per share)	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Weighted average shares used to compute basic net loss per share (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	64.31M	shares	1 Quarter
Weighted average shares used to compute basic net loss per share (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	62.00M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.20M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.75M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.43M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$284.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-477.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-167.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-17.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-10.00K	USD	1 Quarter
Right-of-use asset	`IncreaseDecreaseInRightofuseAsset`	$-15.00K	USD	1 Quarter
Right-of-use asset	`IncreaseDecreaseInRightofuseAsset`	$-59.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.07M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-127.00K	USD	1 Quarter
Tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-7.00K	USD	1 Quarter
Tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-113.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-5.00K	USD	1 Quarter
Operating lease liabilities, current	`IncreaseDecreaseInOperatingLeaseLiabilityCurrent`	$-108.00K	USD	1 Quarter
Operating lease liabilities, current	`IncreaseDecreaseInOperatingLeaseLiabilityCurrent`	$-31.00K	USD	1 Quarter
Operating lease liabilities, non-current	`IncreaseDecreaseInOperatingLeaseLiabilityNoncurrent`	$-28.00K	USD	1 Quarter
Operating lease liabilities, non-current	`IncreaseDecreaseInOperatingLeaseLiabilityNoncurrent`	$93.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.24M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.21M	USD	1 Quarter
Sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.00K	USD	1 Quarter
Sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.00K	USD	1 Quarter
Cash used for lending to related parties	`PaymentsToFundLongtermLoansToRelatedParties`	$28.00K	USD	1 Quarter
Cash used for lending to related parties	`PaymentsToFundLongtermLoansToRelatedParties`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.00K	USD	1 Quarter
Proceeds from the issuance of related party debt	`ProceedsFromRelatedPartyDebt`	-	USD	1 Quarter
Proceeds from the issuance of related party debt	`ProceedsFromRelatedPartyDebt`	$89.00K	USD	1 Quarter
Payment of related party debt	`RepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Payment of related party debt	`RepaymentsOfRelatedPartyDebt`	$152.00K	USD	1 Quarter
Payment of short-term loans	`ProceedsFromShortTermDebt`	$-795.00K	USD	1 Quarter
Payment of short-term loans	`ProceedsFromShortTermDebt`	-	USD	1 Quarter
Proceeds from issuance of ordinary shares	`ProceedsFromIssuanceOfCommonStock`	$1.40M	USD	1 Quarter
Proceeds from issuance of ordinary shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from stockholder capital injection	`ProceedsFromContributedCapital`	$9.29M	USD	1 Quarter
Proceeds from stockholder capital injection	`ProceedsFromContributedCapital`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.34M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.49M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$7.10M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$231.00K	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.54M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$433.00K	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$327.00K	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$558.00K	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.54M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$433.00K	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$327.00K	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$558.00K	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$4.81M	USD	Point-in-time
Balances	`StockholdersEquity`	$3.12M	USD	Point-in-time
Balances	`StockholdersEquity`	$11.35M	USD	Point-in-time
Balances	`StockholdersEquity`	$2.92M	USD	Point-in-time
Common stock issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$1.40M	USD	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$759.00K	USD	1 Quarter
Provision for Future Service issue for common stock	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$759.00K	USD	1 Quarter
Conversion to Class B Common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	1 Quarter
Initial public offering related expenses	`StockIssuedDuringPeriodValueOther`	$-1.43M	USD	1 Quarter
Common stock Issuance for initial public offering	`StockIssuedDuringPeriodValueConversionOfUnits`	$10.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.20M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.75M	USD	1 Quarter
Balances	`StockholdersEquity`	$4.81M	USD	Point-in-time
Balances	`StockholdersEquity`	$3.12M	USD	Point-in-time
Balances	`StockholdersEquity`	$11.35M	USD	Point-in-time
Balances	`StockholdersEquity`	$2.92M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.