10-K Filing

NVE CORP /NEW/ CIK: 724910 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001376474-23-000283`
Period End Date	20230331
Filing Date	20230503
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	nvec-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 37 Cash Flow Statement 44 Stockholders Equity 22 Comprehensive Income 6

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Accounts Receivable, Allowance for Credit Loss, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$15.00K	USD	Point-in-time
Accounts Receivable, Allowance for Credit Loss, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$15.00K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.45M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	6.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.67M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	6.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	4.83M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	4.83M	shares	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$15.51M	USD	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$20.84M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$6.52M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$4.70M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	4.83M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	4.83M	shares	Point-in-time
Inventories	`InventoryNet`	$6.42M	USD	Point-in-time
Inventories	`InventoryNet`	$5.09M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseCurrent`	$420.52K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseCurrent`	$663.46K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$41.50M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$30.79M	USD	Point-in-time
Machinery and equipment	`PropertyPlantAndEquipmentGross`	$9.74M	USD	Point-in-time
Machinery and equipment	`PropertyPlantAndEquipmentGross`	$10.48M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.96M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.81M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$11.10M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$10.94M	USD	Point-in-time
Net fixed assets	`AssetsNoncurrent`	$606.38K	USD	Point-in-time
Net fixed assets	`AssetsNoncurrent`	$1.35M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNet`	$572.04K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNet`	$483.47K	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$24.31M	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$36.13M	USD	Point-in-time
Right-of-use asset - operating lease	`OperatingLeaseRightOfUseAsset`	$560.25K	USD	Point-in-time
Right-of-use asset - operating lease	`OperatingLeaseRightOfUseAsset`	$425.84K	USD	Point-in-time
Total assets	`Assets`	$69.26M	USD	Point-in-time
Total assets	`Assets`	$67.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$943.53K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$281.71K	USD	Point-in-time
Accrued payroll and other	`AccruedLiabilitiesCurrent`	$1.36M	USD	Point-in-time
Accrued payroll and other	`AccruedLiabilitiesCurrent`	$1.38M	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityCurrent`	$156.12K	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityCurrent`	$175.80K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.83M	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityNoncurrent`	$342.91K	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityNoncurrent`	$446.02K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.18M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.90M	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$48.31K	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$48.31K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.30M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.26M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.21M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-318.12K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$45.58M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$48.95M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$64.57M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$67.08M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$69.26M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$67.47M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Product sales	`RevenueNotFromContractWithCustomer`	$25.87M	USD	Annual
Product sales	`RevenueNotFromContractWithCustomer`	$37.20M	USD	Annual
Contract research and development	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.06M	USD	Annual
Contract research and development	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.12M	USD	Annual
Total revenue	`Revenues`	$38.25M	USD	Annual
Total revenue	`Revenues`	$26.99M	USD	Annual
Cost of sales	`CostOfRevenue`	$8.06M	USD	Annual
Cost of sales	`CostOfRevenue`	$6.26M	USD	Annual
Gross profit	`GrossProfit`	$30.19M	USD	Annual
Gross profit	`GrossProfit`	$20.72M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$2.93M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$2.58M	USD	Annual
Selling, general, and administrative	`OtherGeneralAndAdministrativeExpense`	$1.47M	USD	Annual
Selling, general, and administrative	`OtherGeneralAndAdministrativeExpense`	$1.96M	USD	Annual
Total expenses	`OperatingExpenses`	$4.40M	USD	Annual
Total expenses	`OperatingExpenses`	$4.55M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$16.33M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$25.64M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.17M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.45M	USD	Annual
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$17.50M	USD	Annual
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$27.09M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.40M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.99M	USD	Annual
Net income	`NetIncomeLoss`	$14.51M	USD	Annual
Net income	`NetIncomeLoss`	$22.69M	USD	Annual
Net income per share - basic	`EarningsPerShareBasic`	$3.00	USD	Annual
Net income per share - basic	`EarningsPerShareBasic`	$4.70	USD	Annual
Net income per share - diluted	`EarningsPerShareDiluted`	$3.00	USD	Annual
Net income per share - diluted	`EarningsPerShareDiluted`	$4.70	USD	Annual
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$4.00	USD	Annual
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$1.00	USD	Point-in-time
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$4.00	USD	Annual
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.83M	shares	Annual
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.83M	shares	Annual
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.84M	shares	Annual
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.83M	shares	Annual

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$14.51M	USD	Annual
Net income	`ProfitLoss`	$22.69M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$424.98K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$257.61K	USD	Annual
Stock-based compensation	`EmployeeBenefitsAndShareBasedCompensationNoncash`	$81.86K	USD	Annual
Stock-based compensation	`EmployeeBenefitsAndShareBasedCompensationNoncash`	$59.66K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$161.89K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$24.46K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.74M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.82M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.19M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.33M	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-99.72K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$208.53K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-726.70K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.29M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$19.09M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.50M	USD	Annual
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$935.79K	USD	Annual
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$484.58K	USD	Annual
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$28.44M	USD	Annual
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	Annual
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$7.50M	USD	Annual
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$20.75M	USD	Annual
Receipt of tenant improvement allowance	`ProceedsFromContributionInAidOfConstruction`	-	USD	Annual
Receipt of tenant improvement allowance	`ProceedsFromContributionInAidOfConstruction`	$100.00K	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$7.02M	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.53M	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$163.52K	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$20.70K	USD	Annual
Payment of dividends to shareholders	`PaymentsOfDividends`	$19.32M	USD	Annual
Payment of dividends to shareholders	`PaymentsOfDividends`	$19.33M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-19.50M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-19.34M	USD	Annual
(Decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$22.17K	USD	Annual
(Decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-8.78M	USD	Annual
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.43M	USD	Point-in-time
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.67M	USD	Point-in-time
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.45M	USD	Point-in-time
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.43M	USD	Point-in-time
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.67M	USD	Point-in-time
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.45M	USD	Point-in-time
Cash paid during the year for income taxes	`IncomeTaxesPaidNet`	$4.50M	USD	Annual
Cash paid during the year for income taxes	`IncomeTaxesPaidNet`	$2.52M	USD	Annual

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$64.57M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$70.89M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$67.08M	USD	Point-in-time
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$-163.52K	USD	Annual
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$-20.70K	USD	Annual
Stock Issued During Period, Value, Stock Options Exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Stock Issued During Period, Value, Stock Options Exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	`StockIssuedDuringPeriodSharesStockOptionsExercised`	1,000.00	shares	Annual
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	`StockIssuedDuringPeriodSharesStockOptionsExercised`	5,000.00	shares	Annual
Unrealized gain (loss) from marketable securities, net of tax	`MarketableSecuritiesUnrealizedGainLoss`	$-1.42M	USD	Annual
Unrealized gain (loss) from marketable securities, net of tax	`MarketableSecuritiesUnrealizedGainLoss`	$-895.74K	USD	Annual
Net income	`NetIncomeLoss`	$14.51M	USD	Annual
Net income	`NetIncomeLoss`	$22.69M	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$13.09M	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$21.80M	USD	Annual
Shares Granted, Value, Share-Based Payment Arrangement, after Forfeiture	`StockGrantedDuringPeriodValueSharebasedCompensation`	$59.66K	USD	Annual
Shares Granted, Value, Share-Based Payment Arrangement, after Forfeiture	`StockGrantedDuringPeriodValueSharebasedCompensation`	$81.86K	USD	Annual
Cash dividends declared ($4.00 per share of common stock)	`DividendsCash`	$19.33M	USD	Annual
Cash dividends declared ($4.00 per share of common stock)	`DividendsCash`	$19.32M	USD	Annual
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$64.57M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$70.89M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$67.08M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$14.51M	USD	Annual
Net income	`NetIncomeLoss`	$22.69M	USD	Annual
Unrealized gain (loss) from marketable securities, net of tax	`MarketableSecuritiesUnrealizedGainLoss`	$-1.42M	USD	Annual
Unrealized gain (loss) from marketable securities, net of tax	`MarketableSecuritiesUnrealizedGainLoss`	$-895.74K	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$13.09M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$21.80M	USD	Annual

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