2024 Q2 Form 10-Q Financial Statement

#000162828024015487 Filed on April 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $70.98M $75.18M
YoY Change -22.06% -6.85%
Cost Of Revenue $32.47M $39.32M
YoY Change -27.4% -2.21%
Gross Profit $38.52M $35.86M
YoY Change -16.92% -11.46%
Gross Profit Margin 54.26% 47.7%
Selling, General & Admin $35.02M $35.98M
YoY Change -4.1% 5.08%
% of Gross Profit 90.93% 100.34%
Research & Development $6.724M $8.189M
YoY Change -14.45% 19.51%
% of Gross Profit 17.46% 22.84%
Depreciation & Amortization $6.817M $7.522M
YoY Change -9.79% -4.03%
% of Gross Profit 17.7% 20.98%
Operating Expenses $44.55M $47.57M
YoY Change -9.13% -3.76%
Operating Profit -$6.034M -$11.71M
YoY Change 126.5% 31.16%
Interest Expense $567.0K $394.0K
YoY Change -162.93% -46.47%
% of Operating Profit
Other Income/Expense, Net -$259.0K -$238.0K
YoY Change 103.94% -67.66%
Pretax Income -$14.14M -$199.7M
YoY Change -35.33% 1966.85%
Income Tax -$692.0K -$12.00M
% Of Pretax Income
Net Earnings -$13.45M -$187.7M
YoY Change -37.35% 1879.29%
Net Earnings / Revenue -18.95% -249.71%
Basic Earnings Per Share -$4.67
Diluted Earnings Per Share -$0.33 -$4.67
COMMON SHARES
Basic Shares Outstanding 40.05M shares 39.86M shares
Diluted Shares Outstanding 40.23M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.06M $78.45M
YoY Change 70.45% 160.54%
Cash & Equivalents $76.06M $78.45M
Short-Term Investments $913.0K
Other Short-Term Assets $12.97M $10.91M
YoY Change 20.43% 35.75%
Inventory $60.62M $58.07M
Prepaid Expenses
Receivables $43.61M $49.48M
Other Receivables $0.00 $0.00
Total Short-Term Assets $193.3M $196.9M
YoY Change 18.17% 29.06%
LONG-TERM ASSETS
Property, Plant & Equipment $35.67M $40.89M
YoY Change -19.64% -10.24%
Goodwill $0.00 $0.00
YoY Change -100.0% -100.0%
Intangibles $77.38M $81.57M
YoY Change -30.38% -39.13%
Long-Term Investments
YoY Change
Other Assets $11.37M $5.471M
YoY Change -79.07% -49.01%
Total Long-Term Assets $124.4M $127.9M
YoY Change -66.29% -67.22%
TOTAL ASSETS
Total Short-Term Assets $193.3M $196.9M
Total Long-Term Assets $124.4M $127.9M
Total Assets $317.7M $324.8M
YoY Change -40.36% -40.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.75M $35.15M
YoY Change -6.66% -1.26%
Accrued Expenses $41.10M $32.61M
YoY Change 54.41% 49.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $91.16M $85.87M
YoY Change 8.74% 23.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $16.08M $14.35M
YoY Change 103.91% 365.55%
Total Long-Term Liabilities $16.08M $14.35M
YoY Change -72.14% 365.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $91.16M $85.87M
Total Long-Term Liabilities $16.08M $14.35M
Total Liabilities $112.1M $106.1M
YoY Change -27.38% -26.9%
SHAREHOLDERS EQUITY
Retained Earnings -$395.2M -$381.8M
YoY Change 87.43% 101.57%
Common Stock $610.9M $609.0M
YoY Change 1.88% 2.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.714M
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $205.6M $218.7M
YoY Change
Total Liabilities & Shareholders Equity $317.7M $324.8M
YoY Change -40.36% -40.16%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$13.45M -$187.7M
YoY Change -37.35% 1879.29%
Depreciation, Depletion And Amortization $6.817M $7.522M
YoY Change -9.79% -4.03%
Cash From Operating Activities $5.001M -$12.53M
YoY Change -68.65% -1014.31%
INVESTING ACTIVITIES
Capital Expenditures $566.0K $3.857M
YoY Change -46.4% 479.13%
Acquisitions
YoY Change
Other Investing Activities -$1.770M $33.26M
YoY Change 275.0% -2347.36%
Cash From Investing Activities -$2.336M $29.40M
YoY Change 52.88% -1470.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.000M 694.0K
YoY Change -26.25%
NET CHANGE
Cash From Operating Activities 5.001M -12.53M
Cash From Investing Activities -2.336M 29.40M
Cash From Financing Activities -5.000M 694.0K
Net Change In Cash -2.335M 17.57M
YoY Change -116.19% 10549.7%
FREE CASH FLOW
Cash From Operating Activities $5.001M -$12.53M
Capital Expenditures $566.0K $3.857M
Free Cash Flow $4.435M -$16.38M
YoY Change -70.23% -2427.13%

Facts In Submission

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CY2024Q1 us-gaap Inventory Valuation Reserves
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CY2023Q4 us-gaap Goodwill
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CY2024Q1 us-gaap Goodwill
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CY2024Q1 ango Accrued Freight
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us-gaap Allocated Share Based Compensation Expense
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CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2024Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39509000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40098000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39436000 shares
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4134000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Number Of Operating Segments
NumberOfOperatingSegments
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us-gaap Number Of Operating Segments
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CY2024Q1 us-gaap Assets
Assets
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q1 us-gaap Gross Profit
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CY2023Q1 us-gaap Gross Profit
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us-gaap Gross Profit
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us-gaap Gross Profit
GrossProfit
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CY2024Q1 ango Gross Margin Percentage
GrossMarginPercentage
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CY2023Q1 ango Gross Margin Percentage
GrossMarginPercentage
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ango Gross Margin Percentage
GrossMarginPercentage
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0.516
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
75182000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
80712000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
232934000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
247678000 usd
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
9387000 usd
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
112000 usd
CY2024Q1 ango Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Currency Gain Loss From Remeasurement
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityCurrencyGainLossFromRemeasurement
1000 usd
CY2024Q1 ango Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Contingent Consideration Payment
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityContingentConsiderationPayment
0 usd
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
9500000 usd
CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
19296000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
203000 usd
ango Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Currency Gain Loss From Remeasurement
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityCurrencyGainLossFromRemeasurement
1000 usd
ango Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Contingent Consideration Payment
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityContingentConsiderationPayment
10000000 usd
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
9500000 usd
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
650000 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
696000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
1904000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
2044000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1555000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
2079000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
618000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3854000 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5113000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1645000 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1922000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2322000 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3316000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3967000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
5238000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y6M29D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.047
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
501000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1671000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1437000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
437000 usd
CY2024Q1 ango Lessee Operating Lease Liability To Be Paid After Year Three
LesseeOperatingLeaseLiabilityToBePaidAfterYearThree
174000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4220000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
253000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3967000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1645000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2322000 usd
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
700000 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
700000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
1900000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
2000000 usd
CY2024Q1 ango Acquisition Restructuring And Other Items Net
AcquisitionRestructuringAndOtherItemsNet
35367000 usd
CY2023Q1 ango Acquisition Restructuring And Other Items Net
AcquisitionRestructuringAndOtherItemsNet
3369000 usd
ango Acquisition Restructuring And Other Items Net
AcquisitionRestructuringAndOtherItemsNet
44767000 usd
ango Acquisition Restructuring And Other Items Net
AcquisitionRestructuringAndOtherItemsNet
12009000 usd
CY2024Q1 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
3400000 usd
CY2024Q1 us-gaap Inventory Write Down
InventoryWriteDown
2900000 usd
CY2023Q1 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
3500000 usd
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
900000 usd
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
689000 usd
CY2024Q1 us-gaap Restructuring Charges
RestructuringCharges
5426000 usd
CY2024Q1 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
4500000 usd
CY2024Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
676000 usd
CY2024Q1 us-gaap Restructuring Reserve
RestructuringReserve
939000 usd
CY2023Q2 us-gaap Restructuring Reserve
RestructuringReserve
0 usd
us-gaap Restructuring Charges
RestructuringCharges
6115000 usd
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
4500000 usd
us-gaap Payments For Restructuring
PaymentsForRestructuring
676000 usd
CY2024Q1 us-gaap Restructuring Reserve
RestructuringReserve
939000 usd
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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