$AKAM
AKAMAI TECHNOLOGIES INC

2023 Q2 Form 10-Q Financial Statement

#000108622223000187 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $935.7M $915.7M
YoY Change 3.59% 1.33%
Cost Of Revenue $373.3M $361.3M
YoY Change 7.68% 8.58%
Gross Profit $562.4M $554.4M
YoY Change 1.04% -2.89%
Gross Profit Margin 60.11% 60.54%
Selling, General & Admin $288.4M $275.2M
YoY Change 16.91% -0.27%
% of Gross Profit 51.27% 49.65%
Research & Development $99.04M $91.86M
YoY Change 7.57% -8.08%
% of Gross Profit 17.61% 16.57%
Depreciation & Amortization $139.1M $135.5M
YoY Change -7.62% -5.01%
% of Gross Profit 24.74% 24.43%
Operating Expenses $387.4M $367.1M
YoY Change 3.55% -2.34%
Operating Profit $149.8M $126.6M
YoY Change -17.95% -26.93%
Interest Expense $3.157M $2.681M
YoY Change -159.98% -0.52%
% of Operating Profit 2.11% 2.12%
Other Income/Expense, Net -$1.130M -$2.363M
YoY Change -238.48% -75.3%
Pretax Income $150.0M $126.9M
YoY Change -12.07% -21.11%
Income Tax $21.19M $29.78M
% Of Pretax Income 14.13% 23.47%
Net Earnings $128.8M $97.11M
YoY Change 7.76% -18.51%
Net Earnings / Revenue 13.77% 10.6%
Basic Earnings Per Share $0.85 $0.62
Diluted Earnings Per Share $0.84 $0.62
COMMON SHARES
Basic Shares Outstanding 152.2M shares 156.3M shares
Diluted Shares Outstanding 153.5M shares 156.1M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $790.2M $751.6M
YoY Change 14.41% 48.28%
Cash & Equivalents $298.6M $298.8M
Short-Term Investments $491.6M $452.8M
Other Short-Term Assets $229.5M $240.0M
YoY Change 10.83% 0.49%
Inventory
Prepaid Expenses
Receivables $698.4M $705.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.718B $1.698B
YoY Change 9.73% 15.93%
LONG-TERM ASSETS
Property, Plant & Equipment $2.631B $2.505B
YoY Change 12.47% 4.38%
Goodwill $2.848B $2.782B
YoY Change 1.31%
Intangibles $437.3M $432.2M
YoY Change -15.61%
Long-Term Investments $249.2M $298.7M
YoY Change -61.1% -62.03%
Other Assets $124.8M $133.2M
YoY Change -70.61% 3.38%
Total Long-Term Assets $6.627B $6.486B
YoY Change -0.26% -5.17%
TOTAL ASSETS
Total Short-Term Assets $1.718B $1.698B
Total Long-Term Assets $6.627B $6.486B
Total Assets $8.346B $8.183B
YoY Change 1.64% -1.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $194.5M $202.1M
YoY Change 47.74% 64.42%
Accrued Expenses $269.3M $256.9M
YoY Change -45.42% -25.05%
Deferred Revenue $138.6M $140.9M
YoY Change 0.86%
Short-Term Debt $20.00M $0.00
YoY Change -73.33% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $860.8M $836.3M
YoY Change 5.35% -3.8%
LONG-TERM LIABILITIES
Long-Term Debt $2.287B $2.286B
YoY Change 0.19% 0.19%
Other Long-Term Liabilities $104.3M $109.4M
YoY Change -86.82% 41.61%
Total Long-Term Liabilities $104.3M $109.4M
YoY Change -96.61% 41.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $860.8M $836.3M
Total Long-Term Liabilities $104.3M $109.4M
Total Liabilities $4.057B $4.012B
YoY Change 3.21% 0.22%
SHAREHOLDERS EQUITY
Retained Earnings $2.146B $2.017B
YoY Change 28.68% 33.09%
Common Stock $1.580M $1.573M
YoY Change -2.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.289B $4.171B
YoY Change
Total Liabilities & Shareholders Equity $8.346B $8.183B
YoY Change 1.64% -1.45%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $128.8M $97.11M
YoY Change 7.76% -18.51%
Depreciation, Depletion And Amortization $139.1M $135.5M
YoY Change -7.62% -5.01%
Cash From Operating Activities $366.3M $233.5M
YoY Change 7.29% 4.97%
INVESTING ACTIVITIES
Capital Expenditures $176.3M $141.7M
YoY Change -249.19% 177.82%
Acquisitions $20.07M
YoY Change -97.7%
Other Investing Activities -$72.07M $20.27M
YoY Change -2550.36% 286.65%
Cash From Investing Activities -$248.4M -$119.9M
YoY Change 115.54% -62.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -117.2M -$357.3M
YoY Change -29.36% 487.31%
NET CHANGE
Cash From Operating Activities 366.3M $233.5M
Cash From Investing Activities -248.4M -$119.9M
Cash From Financing Activities -117.2M -$357.3M
Net Change In Cash 757.0K -$241.4M
YoY Change -98.74% 54.0%
FREE CASH FLOW
Cash From Operating Activities $366.3M $233.5M
Capital Expenditures $176.3M $141.7M
Free Cash Flow $190.0M $91.80M
YoY Change -58.65% -46.46%

Facts In Submission

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CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
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55394000 usd
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25834000 usd
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PaymentsToAcquirePropertyPlantAndEquipment
141700000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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134191000 usd
CY2022Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
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ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
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CY2022Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
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91637000 usd
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120433000 usd
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PaymentsForProceedsFromOtherInvestingActivities
20268000 usd
CY2022Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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ProceedsFromRepaymentsOfLinesOfCredit
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CY2022Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
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21257000 usd
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ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
21941000 usd
CY2023Q1 akam Employee Taxes Paid Related To Net Share Settlement Of Equity Awards
EmployeeTaxesPaidRelatedToNetShareSettlementOfEquityAwards
29894000 usd
CY2022Q1 akam Employee Taxes Paid Related To Net Share Settlement Of Equity Awards
EmployeeTaxesPaidRelatedToNetShareSettlementOfEquityAwards
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CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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543022000 usd
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
301641000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2023Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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CY2022Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
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CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
298800000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q1 us-gaap Restricted Cash
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CY2022Q1 us-gaap Restricted Cash
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Stockholders Equity
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CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2023Q1 us-gaap Treasury Stock Value Acquired Cost Method
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CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2022Q1 us-gaap Treasury Stock Value Acquired Cost Method
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CY2022Q1 us-gaap Stockholders Equity
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CY2023Q1 akam Property And Equipment Useful Life Minimum
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CY2022 us-gaap Property Plant And Equipment Useful Life
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CY2023Q1 us-gaap Property Plant And Equipment Useful Life
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CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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21954000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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452790000 usd
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CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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CY2023Q1 us-gaap Assets Fair Value Disclosure
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CY2023Q1 us-gaap Available For Sale Securities Debt Securities
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CY2022Q1 us-gaap Provision For Doubtful Accounts
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CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
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CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
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CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
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ContractCostCapitalizedDuringPeriod
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CY2022Q1 akam Contract Cost Capitalized During Period
ContractCostCapitalizedDuringPeriod
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CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
433088000 usd
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FiniteLivedIntangibleAssetsGross
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CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
416645000 usd
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CY2023Q1 us-gaap Business Combination Acquisition Related Costs
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CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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59900000 usd
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62400000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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58000000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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44800000 usd
CY2022Q4 us-gaap Goodwill
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CY2023Q1 us-gaap Goodwill Acquired During Period
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CY2023Q1 us-gaap Goodwill
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CY2022Q1 us-gaap Interest Expense
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
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ShareBasedCompensationArrangementByShareBasedPaymentAwardAmortizationOfCapitalizedAmounts
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CY2022Q1 akam Share Based Compensation Arrangement By Share Based Payment Award Amortization Of Capitalized Amounts
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CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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19171000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2023Q1 akam Number Of Solutions
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CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
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57500000 usd
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
56200000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
3300000000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation Percentage
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CY2023Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P12M
CY2023Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q1 us-gaap Net Income Loss
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CY2022Q1 us-gaap Net Income Loss
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
160494000 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
498000 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
1320000 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
1822000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
156135000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
163637000 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.83
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.82
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
31438000 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25279000 shares

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akam-20230331.htm Edgar Link pending
akam-20230331.xsd Edgar Link pending
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akam-20230331_htm.xml Edgar Link completed
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