Company: BKTI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033457
Chunk: 11

Company: BK Technologies Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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BK TECHNOLOGIES CORPORATION

Condensed Consolidated Balance Sheets

(In thousands, except share data)

      September 30,    December 31,  
   2025    2024  
   (Unaudited)     
 ASSETS         
         
 Current assets:         
 Cash and cash equivalents  $21,471  $7,075 
 Trade accounts receivable, net   7,579   7,349 
 Inventories, net   18,575   17,636 
 Prepaid expenses and other current assets   4,123   4,881 
 Total current assets   51,748   36,941 
         
 Property, plant and equipment, net   4,464   4,911 
 Operating lease right-of-use (ROU) assets   764   1,128 
 Deferred tax assets, net   6,620   6,788 
 Capitalized product development cost   2,837   1,321 
 Other assets   431   410 
 Total assets  $66,864  $51,499 
         
 LIABILITIES AND STOCKHOLDERS’ EQUITY         
         
 Current liabilities:         
 Accounts payable  $10,835  $6,327 
 Accrued compensation and related taxes   2,492   2,289 
 Accrued warranty expense   850   1,008 
 Accrued other expenses and other current liabilities   635   1,894 
 Short-term operating lease liabilities   489   571 
 Deferred revenue   2,604   1,885 
 Total current liabilities   17,905   13,974 
         
 Long-term operating lease liabilities   372   714 
 Long-term uncertain tax position liability   1,419   — 
 Deferred revenue   6,218   6,980 
 Total liabilities   25,914   21,668 
         
 Commitments and contingencies           
 Stockholders’ equity:         
 Preferred stock; $1.00 par value; 1,000,000 authorized shares; none issued or outstanding   —   — 
 Common stock; $0.60 par value; 10,000,000 authorized shares; 4,084,386 and 3,913,959 issued, and 3,