Company: BKTI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026668
Chunk: 11

Company: BK Technologies Corp
Filing Date: 2025-08-14
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)

      June 30,    December 31,  
   2025    2024  
   (Unaudited)     
 ASSETS         
         
 Current assets:         
 Cash and cash equivalents  $11,853  $7,075 
 Trade accounts receivable, net   11,542   7,349 
 Inventories, net   17,167   17,636 
 Prepaid expenses and other current assets   4,271   4,881 
 Total current assets   44,833   36,941 
         
 Property, plant and equipment, net   4,563   4,911 
 Operating lease right-of-use (ROU) assets   886   1,128 
 Deferred tax assets, net   7,443   6,788 
 Capitalized product development cost   2,267   1,321 
 Other assets   434   410 
 Total assets  $60,426  $51,499 
         
 LIABILITIES AND STOCKHOLDERS’ EQUITY         
         
 Current liabilities:         
 Accounts payable  $9,835  $6,327 
 Accrued compensation and related taxes   1,702   2,289 
 Accrued warranty expense   921   1,008 
 Accrued other expenses and other current liabilities   550   1,894 
 Short-term operating lease liabilities   515   571 
 Deferred revenue   2,397   1,885 
 Total current liabilities   15,920   13,974 
         
 Long-term operating lease liabilities   490   714 
 Long-term uncertain tax position liability   1,419   — 
 Deferred revenue   5,834   6,980 
 Total liabilities   23,663   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; 4,035,256 and 3,913,959 issued, and 3,