10-Q Filing

TILE SHOP HOLDINGS, INC. CIK: 1552800 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001552800-21-000009`
Period End Date	20210331
Filing Date	20210507
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	ttsh-20210331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 26 Cash Flow Statement 59 Stockholders Equity 20 Comprehensive Income 8

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	51.93M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.70M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	51.70M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$655.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$655.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$815.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	51.93M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	51.70M	shares	Point-in-time
Receivables, net	`AccountsReceivableNetCurrent`	$3.02M	USD	Point-in-time
Preferred stock, par value (per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Receivables, net	`AccountsReceivableNetCurrent`	$2.98M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Inventories	`InventoryNet`	$70.97M	USD	Point-in-time
Inventories	`InventoryNet`	$74.30M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$6.63M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$8.12M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets, net	`OtherAssetsCurrent`	$8.99M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets, net	`OtherAssetsCurrent`	$7.92M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$104.65M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$125.13M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$99.03M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$94.77M	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$132.37M	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$127.39M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$5.34M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$5.45M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.29M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.22M	USD	Point-in-time
Total Assets	`Assets`	$353.96M	USD	Point-in-time
Total Assets	`Assets`	$342.69M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.38M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$93.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$167.00K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$29.44M	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$27.22M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$34.11M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$43.27M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$89.68M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$76.80M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Long-term lease liability, net	`OperatingLeaseLiabilityNoncurrent`	$122.68M	USD	Point-in-time
Long-term lease liability, net	`OperatingLeaseLiabilityNoncurrent`	$116.36M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.57M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.15M	USD	Point-in-time
Total Liabilities	`Liabilities`	$203.63M	USD	Point-in-time
Total Liabilities	`Liabilities`	$209.61M	USD	Point-in-time
Common stock, par value $0.0001; authorized: 100,000,000 shares; issued and outstanding: 51,932,704 and 51,701,080 shares, respectively	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, par value $0.0001; authorized: 100,000,000 shares; issued and outstanding: 51,932,704 and 51,701,080 shares, respectively	`CommonStockValue`	$5.00K	USD	Point-in-time
Preferred stock, par value $0.0001; authorized: 10,000,000 shares; issued and outstanding: 0 shares	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.0001; authorized: 10,000,000 shares; issued and outstanding: 0 shares	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$158.54M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$158.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.49M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-12.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.00K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$144.36M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$139.06M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$134.87M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$130.90M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$342.69M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$353.96M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$94.28M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$92.08M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$27.90M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$29.32M	USD	1 Quarter
Gross profit	`GrossProfit`	$64.95M	USD	1 Quarter
Gross profit	`GrossProfit`	$64.19M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$57.28M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$62.36M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.59M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$6.91M	USD	1 Quarter
Interest expense	`InterestExpense`	$168.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$848.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.74M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.75M	USD	1 Quarter
(Provision) benefit for income taxes	`IncomeTaxExpenseBenefit`	$1.44M	USD	1 Quarter
(Provision) benefit for income taxes	`IncomeTaxExpenseBenefit`	$-1.76M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.30M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	49.84M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	50.11M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.06M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.84M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.19M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$8.21M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfDebtDiscountPremium`	$149.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfDebtDiscountPremium`	$76.00K	USD	1 Quarter
Impairment charges	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment charges	`AssetImpairmentCharges`	$2.15M	USD	1 Quarter
Non-cash lease expense	`NonCashLeaseExpense`	$6.16M	USD	1 Quarter
Non-cash lease expense	`NonCashLeaseExpense`	$5.87M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$566.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$592.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-113.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$4.46M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$40.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$839.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.32M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-11.32M	USD	1 Quarter
Other current assets, net	`IncreaseDecreaseInOtherCurrentAssets`	$-223.00K	USD	1 Quarter
Other current assets, net	`IncreaseDecreaseInOtherCurrentAssets`	$-1.06M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.58M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.77M	USD	1 Quarter
Income tax receivable / payable	`IncreaseDecreaseInIncomeTaxesReceivablePayable`	$-1.56M	USD	1 Quarter
Income tax receivable / payable	`IncreaseDecreaseInIncomeTaxesReceivablePayable`	$6.25M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$3.43M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-3.71M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$22.89M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$30.11M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.20M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$645.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-645.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.20M	USD	1 Quarter
Payments of long-term debt and financing lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$79.16M	USD	1 Quarter
Advances on line of credit	`ProceedsFromLongTermLinesOfCredit`	$53.60M	USD	1 Quarter
Employee taxes paid for shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$79.00K	USD	1 Quarter
Employee taxes paid for shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$603.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-25.64M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-603.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-11.00K	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$26.32M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.40M	USD	1 Quarter
Cash, cash equivalents and restricted cash beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.27M	USD	Point-in-time
Cash, cash equivalents and restricted cash beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.59M	USD	Point-in-time
Cash, cash equivalents and restricted cash beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.92M	USD	Point-in-time
Cash, cash equivalents and restricted cash beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.52M	USD	Point-in-time
Cash, cash equivalents and restricted cash end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.27M	USD	Point-in-time
Cash, cash equivalents and restricted cash end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.59M	USD	Point-in-time
Cash, cash equivalents and restricted cash end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.92M	USD	Point-in-time
Cash, cash equivalents and restricted cash end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.52M	USD	Point-in-time
Cash, cash equivalents and restricted cash end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.27M	USD	Point-in-time
Cash, cash equivalents and restricted cash end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.59M	USD	Point-in-time
Cash, cash equivalents and restricted cash end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.92M	USD	Point-in-time
Cash, cash equivalents and restricted cash end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.52M	USD	Point-in-time
Purchases of property, plant and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$15.00K	USD	1 Quarter
Purchases of property, plant and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$161.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$238.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$833.00K	USD	1 Quarter
Cash paid for income taxes, net	`IncomeTaxesPaidNet`	$22.00K	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$144.36M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$139.06M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$134.87M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$130.90M	USD	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	51.93M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	51.70M	shares	Point-in-time
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$592.00K	USD	1 Quarter
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$566.00K	USD	1 Quarter
Tax withholdings related to net share settlements of stock based compensation awards	`AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation`	$79.00K	USD	1 Quarter
Tax withholdings related to net share settlements of stock based compensation awards	`AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation`	$603.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$8.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-16.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.30M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$144.36M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$139.06M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$134.87M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$130.90M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	51.93M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	51.70M	shares	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.30M	USD	1 Quarter
Currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$8.00K	USD	1 Quarter
Currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-16.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$8.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-16.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.49M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$5.30M	USD	1 Quarter

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