2020 Form 10-K Financial Statement

#000156459020013513 Filed on March 27, 2020

View on sec.gov

Income Statement

Concept 2020 2019 Q1 2019
Revenue $228.7M $51.10M $227.8M
YoY Change 0.42% -27.62% -22.9%
Cost Of Revenue $96.02M $20.40M $89.62M
YoY Change 7.14% -19.05% -16.76%
Gross Profit $132.7M $30.70M $138.1M
YoY Change -3.93% -32.38% -26.41%
Gross Profit Margin 58.02% 60.08% 60.65%
Selling, General & Admin $52.63M $12.40M $50.50M
YoY Change 4.23% 0.0% 5.65%
% of Gross Profit 39.66% 40.39% 36.56%
Research & Development $129.7M $32.60M $128.1M
YoY Change 1.27% 3.16% 10.91%
% of Gross Profit 97.75% 106.19% 92.73%
Depreciation & Amortization $2.800M $1.900M $2.600M
YoY Change 7.69% 26.67% 44.44%
% of Gross Profit 2.11% 6.19% 1.88%
Operating Expenses $182.4M $45.00M $178.6M
YoY Change 2.12% 2.27% 9.35%
Operating Profit -$49.65M -$14.30M -$40.42M
YoY Change 22.83% -1121.43% -265.45%
Interest Expense $3.400M $2.700M
YoY Change 25.93%
% of Operating Profit
Other Income/Expense, Net $8.021M $3.400M $5.868M
YoY Change 36.69% 466.67% 352.08%
Pretax Income -$41.63M -$11.00M -$34.55M
YoY Change 20.48% -650.0% -234.29%
Income Tax $3.164M -$6.500M -$4.105M
% Of Pretax Income
Net Earnings -$44.79M -$4.500M -$30.45M
YoY Change 47.11% -446.15% -261.51%
Net Earnings / Revenue -19.58% -8.81% -13.37%
Basic Earnings Per Share -$1.35 -$0.93
Diluted Earnings Per Share -$1.35 -$140.2K -$0.93
COMMON SHARES
Basic Shares Outstanding 33.08M 32.72M 32.71M
Diluted Shares Outstanding 33.08M 32.71M

Balance Sheet

Concept 2020 2019 Q1 2019
SHORT-TERM ASSETS
Cash & Short-Term Investments $404.7M $358.9M $358.9M
YoY Change 12.76% -17.41% -17.42%
Cash & Equivalents $231.4M $194.0M $194.0M
Short-Term Investments $173.3M $164.9M $164.9M
Other Short-Term Assets $5.000M $6.200M $6.200M
YoY Change -19.35% 55.0% 55.0%
Inventory $23.00M $18.25M $18.30M
Prepaid Expenses
Receivables $18.50M $26.21M $26.20M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $451.2M $409.6M $409.6M
YoY Change 10.16% -16.97% -16.97%
LONG-TERM ASSETS
Property, Plant & Equipment $15.50M $5.614M $6.700M
YoY Change 131.34% -12.95% 4.69%
Goodwill $26.60M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $16.10M $2.412M $13.00M
YoY Change 23.85% 6.87% 120.34%
Total Long-Term Assets $76.10M $57.26M $57.30M
YoY Change 32.81% 7.3% 7.5%
TOTAL ASSETS
Total Short-Term Assets $451.2M $409.6M $409.6M
Total Long-Term Assets $76.10M $57.26M $57.30M
Total Assets $527.3M $466.9M $466.9M
YoY Change 12.94% -14.6% -14.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.90M $12.80M $12.80M
YoY Change 16.41% -35.4% -35.35%
Accrued Expenses $37.20M $24.70M $24.70M
YoY Change 50.61% -23.29% -23.29%
Deferred Revenue $529.0K
YoY Change 72.31%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $53.50M $39.02M $39.00M
YoY Change 37.18% -26.65% -26.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $24.50M $8.341M $7.000M
YoY Change 250.0% -25.7% -29.29%
Total Long-Term Liabilities $24.50M $8.341M $7.000M
YoY Change 250.0% -25.7% -29.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $53.50M $39.02M $39.00M
Total Long-Term Liabilities $24.50M $8.341M $7.000M
Total Liabilities $79.20M $47.36M $47.40M
YoY Change 67.09% -26.52% -26.51%
SHAREHOLDERS EQUITY
Retained Earnings $230.9M
YoY Change -11.64%
Common Stock $188.5M
YoY Change 1256773.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $448.1M $419.5M $419.5M
YoY Change
Total Liabilities & Shareholders Equity $527.3M $466.9M $466.9M
YoY Change 12.94% -14.6% -14.58%

Cashflow Statement

Concept 2020 2019 Q1 2019
OPERATING ACTIVITIES
Net Income -$44.79M -$4.500M -$30.45M
YoY Change 47.11% -446.15% -261.51%
Depreciation, Depletion And Amortization $2.800M $1.900M $2.600M
YoY Change 7.69% 26.67% 44.44%
Cash From Operating Activities $39.41M $14.00M $24.47M
YoY Change 61.06% -44.22% -71.35%
INVESTING ACTIVITIES
Capital Expenditures $1.821M -$500.0K $2.940M
YoY Change -38.06% -61.54% -20.26%
Acquisitions $0.00
YoY Change
Other Investing Activities -$6.800M -$27.90M -$76.20M
YoY Change -91.08% -669.39% 1191.53%
Cash From Investing Activities -$8.576M -$28.40M -$79.14M
YoY Change -89.16% -888.89% 724.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $99.90M
YoY Change -100.0% 82.35%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.516M -3.800M -97.95M
YoY Change -106.65% 26.67% 88.36%
NET CHANGE
Cash From Operating Activities 39.41M 14.00M 24.47M
Cash From Investing Activities -8.576M -28.40M -79.14M
Cash From Financing Activities 6.516M -3.800M -97.95M
Net Change In Cash 37.35M -18.20M -152.6M
YoY Change -124.47% -170.82% -741.25%
FREE CASH FLOW
Cash From Operating Activities $39.41M $14.00M $24.47M
Capital Expenditures $1.821M -$500.0K $2.940M
Free Cash Flow $37.59M $14.50M $21.53M
YoY Change 74.59% -45.08% -73.65%

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57000
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265000
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3450000
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39414000
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1821000
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2940000
CY2020 us-gaap Use Of Estimates
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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:4.54%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reported periods. Actual results could differ from those estimates.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On an ongoing basis, management evaluates its estimates and assumptions, including those related to (i) the collectability of accounts receivable; (ii) write down of excess and obsolete inventories; (iii) intangible assets and goodwill; (iv) the estimated useful lives of long-lived assets; (v) impairment of long-lived assets and financial instruments; (vi) warranty obligations; (vii) the valuation of stock-based compensation awards and financial instruments; (viii) the probability of performance objectives achievement; (ix) the realization of tax assets and estimates of tax liabilities, including reserves for uncertain tax positions; and (x) the recognition and disclosure of contingent liabilities. These estimates and assumptions are based on historical experience and on various other factors which the Company believes to be reasonable under the circumstances. The Company may engage third-party valuation specialists to assist with estimates related to the valuation of financial instruments, assets and stock awards associated with various contractual arrangements. Such estimates often require the selection of appropriate valuation methodologies and significant judgment. Actual results could differ from these estimates under different assumptions or circumstances and such differences could be material. </p>
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CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2019 us-gaap Inventory Write Down
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
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11182000
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1026000
CY2020Q1 us-gaap Operating Lease Liability
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CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due Current
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CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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147000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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576000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due
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4854000
CY2019Q1 amba Unrecognized Tax Benefits Including Interest
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6732000
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CY2019Q1 us-gaap Deferred Tax Liabilities Gross Noncurrent
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0
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CY2020 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
358000
CY2019 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
263000
CY2018 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
37000
CY2020Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
760000
CY2019Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
403000
CY2020Q1 amba Income Taxes Payable Including Interest And Penalties Noncurrent
IncomeTaxesPayableIncludingInterestAndPenaltiesNoncurrent
8300000
CY2020Q1 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
35900000
CY2019Q1 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
28200000
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
228732000
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
227768000
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
295402000
CY2020Q1 amba Minimum Percentage Of Voting Stock Used To Define Related Party
MinimumPercentageOfVotingStockUsedToDefineRelatedParty
0.10

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