2023 Q3 Form 10-Q Financial Statement

#000129718423000066 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $180.6M $145.7M
YoY Change 50.3% 18.02%
Cost Of Revenue $72.15M $72.97M
YoY Change 17.1% 21.4%
Gross Profit $108.4M $72.74M
YoY Change 85.27% 14.81%
Gross Profit Margin 60.04% 49.92%
Selling, General & Admin $19.06M $19.00M
YoY Change 13.67% 20.74%
% of Gross Profit 17.58% 26.12%
Research & Development $16.66M $16.84M
YoY Change -9.99% -26.12%
% of Gross Profit 15.37% 23.16%
Depreciation & Amortization $9.619M $3.063M
YoY Change 181.18% 2.24%
% of Gross Profit 8.87% 4.21%
Operating Expenses $35.73M $35.84M
YoY Change 1.26% -6.98%
Operating Profit $72.68M $36.90M
YoY Change 212.89% 48.64%
Interest Expense $13.70M $3.602M
YoY Change 2320.85% 807.3%
% of Operating Profit 18.85% 9.76%
Other Income/Expense, Net -$9.041M -$4.088M
YoY Change 1330.54% 144.5%
Pretax Income $63.64M $32.81M
YoY Change 181.63% 41.71%
Income Tax $14.03M $6.383M
% Of Pretax Income 22.04% 19.46%
Net Earnings $49.22M $26.12M
YoY Change 210.08% 50.61%
Net Earnings / Revenue 27.26% 17.93%
Basic Earnings Per Share $1.01 $0.54
Diluted Earnings Per Share $0.91 $0.49
COMMON SHARES
Basic Shares Outstanding 48.86M 48.27M
Diluted Shares Outstanding 53.92M 53.10M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $299.9M $163.1M
YoY Change 62.91% -11.04%
Cash & Equivalents $266.8M $148.6M
Short-Term Investments $33.10M $14.54M
Other Short-Term Assets $12.70M $10.76M
YoY Change 50.81% 29.09%
Inventory $110.0M $104.6M
Prepaid Expenses
Receivables $119.0M $104.7M
Other Receivables $1.500M $1.329M
Total Short-Term Assets $543.0M $384.6M
YoY Change 41.33% 1.96%
LONG-TERM ASSETS
Property, Plant & Equipment $280.8M $305.5M
YoY Change 20.66% 28.6%
Goodwill $3.092M $3.165M
YoY Change 7.14% 3.63%
Intangibles
YoY Change
Long-Term Investments $2.000M $1.462M
YoY Change -25.65% -52.3%
Other Assets $25.30M $61.14M
YoY Change 23.12% 227.23%
Total Long-Term Assets $1.002B $993.7M
YoY Change 192.47% 186.72%
TOTAL ASSETS
Total Short-Term Assets $543.0M $384.6M
Total Long-Term Assets $1.002B $993.7M
Total Assets $1.545B $1.378B
YoY Change 112.56% 90.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $31.97M $217.5M
YoY Change 60.15% 600.13%
Accrued Expenses $190.7M $3.133M
YoY Change 151.54% -95.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $400.0K $12.92M
YoY Change -76.19% 528.1%
Total Short-Term Liabilities $258.0M $251.3M
YoY Change 152.43% 142.47%
LONG-TERM LIABILITIES
Long-Term Debt $653.3M $488.3M
YoY Change 782.66% 560.99%
Other Long-Term Liabilities $15.70M $49.27M
YoY Change 10.63% 221.32%
Total Long-Term Liabilities $669.0M $537.5M
YoY Change 4614.36% 3406.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $258.0M $251.3M
Total Long-Term Liabilities $669.0M $537.5M
Total Liabilities $949.5M $789.0M
YoY Change 328.61% 251.6%
SHAREHOLDERS EQUITY
Retained Earnings $373.1M $323.9M
YoY Change 56.89% 45.93%
Common Stock $6.000K $6.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $247.4M $197.4M
YoY Change 44.31% 25.78%
Treasury Stock Shares
Shareholders Equity $595.1M $589.2M
YoY Change
Total Liabilities & Shareholders Equity $1.545B $1.378B
YoY Change 112.56% 90.44%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $49.22M $26.12M
YoY Change 210.08% 50.61%
Depreciation, Depletion And Amortization $9.619M $3.063M
YoY Change 181.18% 2.24%
Cash From Operating Activities $64.30M $54.92M
YoY Change 215.58% 1851.08%
INVESTING ACTIVITIES
Capital Expenditures $10.20M $9.054M
YoY Change -281.4% -251.86%
Acquisitions
YoY Change
Other Investing Activities -$20.90M -$499.5M
YoY Change 116.92% 22421.55%
Cash From Investing Activities -$31.20M -$508.6M
YoY Change 104.48% 6117.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 86.60M 428.1M
YoY Change -721.64% -43169.52%
NET CHANGE
Cash From Operating Activities 64.30M 54.92M
Cash From Investing Activities -31.20M -508.6M
Cash From Financing Activities 86.60M 428.1M
Net Change In Cash 119.7M -25.55M
YoY Change -1458.07% 301.76%
FREE CASH FLOW
Cash From Operating Activities $64.30M $54.92M
Capital Expenditures $10.20M $9.054M
Free Cash Flow $54.10M $45.87M
YoY Change 108.09% 422.6%

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us-gaap Net Cash Provided By Used In Financing Activities
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">Use of Estimates</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;margin-bottom:14pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The preparation of condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. The principal accounting estimates include: fair value of acquired assets, determination of allowances for credit losses, fair value of financial instruments, allowance for discounts, provision for chargebacks and rebates, provision for product returns, adjustment of inventory to its net realizable value, impairment of investments, long-lived and intangible assets and goodwill, accrual for workers’ compensation liabilities, litigation reserves, stock price volatility for share-based compensation expense, valuation allowances for deferred tax assets, and liabilities for uncertain income tax positions.</p>
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amph Revenue Recognition Wholesaler Chargebacks Provision Related To Sales In Period
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amph Revenue Recognition Wholesaler Chargebacks Credits Issued To Third Parties
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CY2023Q2 us-gaap Income Tax Expense Benefit
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CY2023Q2 amph Income Loss From Continuing Operations After Income Taxes
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.038
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.030
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.041
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.023
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P4Y10M24D
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y9M18D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y2M12D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.66
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
35.83
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
15.22
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
4526
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
29.60
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
14.66
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
19.57
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
304777000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5945056
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
16.51
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y9M10D
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
243537000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
7814400
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
19.27
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y10M28D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
17.77
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
12.13
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
16.76
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
14.75
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
16575000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
6510000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
18916000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
18710000
CY2023Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
8350000
CY2022Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4469000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
9738000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
16919000
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1136000
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1004000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
8720000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
7990000
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
2378453
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
9.48
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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759350
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
16.76
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
4526
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
13.40
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
2096399
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
12.64
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
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4865000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4235000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10976000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
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0.50
us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
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CY2023Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
600000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1200000
CY2022Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
500000
us-gaap Defined Contribution Plan Cost Recognized
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CY2023Q2 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
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0.038
CY2022Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.038
CY2023Q2 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
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CY2022Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
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CY2023Q2 us-gaap Deferred Compensation Plan Assets
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5400000
CY2022Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
4500000
CY2023Q2 us-gaap Deferred Compensation Liability Current And Noncurrent
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5600000
CY2022Q4 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
4600000

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