2024 Q2 Form 10-Q Financial Statement

#000093503624000018 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $373.5M $316.0M
YoY Change 15.51% 9.09%
Cost Of Revenue $203.2M $191.1M
YoY Change 12.07% 7.03%
Gross Profit $170.2M $124.9M
YoY Change 19.9% 12.41%
Gross Profit Margin 45.58% 39.53%
Selling, General & Admin $53.54M $52.75M
YoY Change -16.68% -21.05%
% of Gross Profit 31.45% 42.23%
Research & Development $35.41M $34.99M
YoY Change 0.41% -5.72%
% of Gross Profit 20.8% 28.01%
Depreciation & Amortization $27.59M $27.61M
YoY Change -12.25% -12.46%
% of Gross Profit 16.2% 22.1%
Operating Expenses $88.95M $87.74M
YoY Change -32.08% -15.58%
Operating Profit $53.70M $9.560M
YoY Change 387.3% -139.26%
Interest Expense $18.47M $19.01M
YoY Change -212.28% 0.62%
% of Operating Profit 34.4% 198.85%
Other Income/Expense, Net -$13.36M -$17.03M
YoY Change 226.54% -9.35%
Pretax Income $40.34M -$7.466M
YoY Change -502.46% -82.69%
Income Tax $9.452M $285.0K
% Of Pretax Income 23.43%
Net Earnings $30.89M -$7.751M
YoY Change -560.31% -76.01%
Net Earnings / Revenue 8.27% -2.45%
Basic Earnings Per Share $0.29 -$0.07
Diluted Earnings Per Share $0.29 -$0.07
COMMON SHARES
Basic Shares Outstanding 105.4M shares 106.4M shares
Diluted Shares Outstanding 106.2M shares 106.8M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $157.0M $183.4M
YoY Change 18.58% 28.78%
Cash & Equivalents $157.0M $183.4M
Short-Term Investments
Other Short-Term Assets $31.83M $34.94M
YoY Change -94.17% 62.5%
Inventory
Prepaid Expenses $30.49M $34.42M
Receivables $369.2M $345.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.381B $1.299B
YoY Change 34.29% 36.12%
LONG-TERM ASSETS
Property, Plant & Equipment $34.94M $36.92M
YoY Change -56.07% -23.6%
Goodwill $1.200B $1.200B
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $19.30M $18.30M
YoY Change 2.66% 1.67%
Other Assets $61.00M $60.14M
YoY Change -49.28% -8.9%
Total Long-Term Assets $1.983B $2.002B
YoY Change -2.79% -2.49%
TOTAL ASSETS
Total Short-Term Assets $1.381B $1.299B
Total Long-Term Assets $1.983B $2.002B
Total Assets $3.365B $3.300B
YoY Change 9.64% 9.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $48.80M $44.29M
YoY Change 1.37% -6.1%
Accrued Expenses $51.78M $39.81M
YoY Change -14.07% -10.03%
Deferred Revenue $72.66M $77.15M
YoY Change 4.77% 10.21%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $34.89M $34.88M
YoY Change -53.04% -50.49%
Total Short-Term Liabilities $1.044B $948.8M
YoY Change 33.54% 35.37%
LONG-TERM LIABILITIES
Long-Term Debt $973.1M $981.9M
YoY Change -1.89% -2.88%
Other Long-Term Liabilities $25.09M $25.52M
YoY Change -70.61% -27.06%
Total Long-Term Liabilities $998.2M $1.007B
YoY Change -7.33% -3.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.044B $948.8M
Total Long-Term Liabilities $998.2M $1.007B
Total Liabilities $2.128B $2.043B
YoY Change 12.21% 11.09%
SHAREHOLDERS EQUITY
Retained Earnings $1.418B $1.387B
YoY Change 14.88% 11.77%
Common Stock $719.3M $715.6M
YoY Change 2.05% 1.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.237B $1.257B
YoY Change
Total Liabilities & Shareholders Equity $3.365B $3.300B
YoY Change 9.64% 9.76%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $30.89M -$7.751M
YoY Change -560.31% -76.01%
Depreciation, Depletion And Amortization $27.59M $27.61M
YoY Change -12.25% -12.46%
Cash From Operating Activities $55.02M $123.2M
YoY Change 215.46% 207.58%
INVESTING ACTIVITIES
Capital Expenditures $6.188M $3.208M
YoY Change -43.01% 42.07%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$6.188M -$17.79M
YoY Change -43.01% 103.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -61.78M -$108.5M
YoY Change 51.22% 433.75%
NET CHANGE
Cash From Operating Activities 55.02M $123.2M
Cash From Investing Activities -6.188M -$17.79M
Cash From Financing Activities -61.78M -$108.5M
Net Change In Cash -12.95M -$725.0K
YoY Change -62.21% -105.35%
FREE CASH FLOW
Cash From Operating Activities $55.02M $123.2M
Capital Expenditures $6.188M $3.208M
Free Cash Flow $48.83M $120.0M
YoY Change 641.86% 217.46%

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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make judgments, estimates, and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates and assumptions are affected by management’s application of accounting policies, as well as uncertainty in the current economic environment. Actual results could differ from those estimates.</span></div>
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CY2024Q1 us-gaap Contract With Customer Liability
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CY2024Q1 us-gaap Long Term Debt
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q1 us-gaap Share Based Compensation
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63100000 usd
CY2024Q1 aciw Treasury Stock Shares Acquired To Date
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2024Q1 us-gaap Common Stock Shares Outstanding
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CY2023Q4 us-gaap Common Stock Shares Outstanding
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CY2024Q1 us-gaap Other Nonoperating Income Expense
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CY2023Q1 us-gaap Other Nonoperating Income Expense
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CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q1 us-gaap Depreciation Depletion And Amortization
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CY2024Q1 us-gaap Share Based Compensation
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CY2024Q1 us-gaap Noncurrent Assets
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CY2023Q4 us-gaap Noncurrent Assets
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CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2023Q4 us-gaap Unrecognized Tax Benefits
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CY2024Q1 us-gaap Unrecognized Tax Benefits
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500000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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CY2024Q1 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
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CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
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false

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