INNERWORKINGS INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2020 10-Q, filed Aug 6, 2020. Its latest SEC filing is a SC 13G/A from Feb 11, 2021.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Sells printed marketing materials, branded merchandise, and packaging, and provides related procurement services to corporate clients and manufacturers.

How Did They Make Money?

Clients pay InnerWorkings for marketing materials and related shipping; they are invoiced when products ship or are received, depending on contract terms.

FY2019 revenue

Who Were Their Customers?

Sales and account executives sell directly to corporate clients across industries, including manufacturers that outsource jobs they cannot complete themselves. Purchases are covered by contracts, purchase orders, or other arrangements.

Customers above 10% of revenue, FY2019

of revenue from one customer

FY2017: 5% from one customer

Did Revenues Turn Into Profits?

Not on paper. It lost $10.1M in FY2019, but brought in more cash than it spent: $9.1M of free cash flow.

Operating income, FY2019

1% of revenue

▲ Now profitable vs FY2018 (−$68.2M, −6%)

Net income, FY2019

−1% of revenue

▼ −87% (Loss) vs FY2018 (−$76.7M, −7%)

Free cash flow, FY2019

1% of revenue

▼ −23% vs FY2018 ($11.8M, 1%)

How Were They Changing?

Since the FY2019 annual report

Latest quarter: Q2 FY2020, the three months to Jun 30, 2020

Revenue: ▼ −28%; vs $283.9M in Q2 FY2019
Net income: ▲ +1457% (Loss); vs −$508K in Q2 FY2019

Oct 1, 2020 HH Global completed its acquisition of InnerWorkings InnerWorkings became a wholly owned subsidiary, and its shares were removed from Nasdaq.

Grew. Revenue grew 12% in 4 years, from $1B in FY2015 to $1.2B in FY2019, about 3% a year.

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