2018 Q1 Form 10-Q Financial Statement

#000144168318000063 Filed on May 03, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $51.70M $38.33M
YoY Change 34.87% 6.58%
Cost Of Revenue $21.05M $12.69M
YoY Change 65.87% -14.02%
Gross Profit $30.65M $25.64M
YoY Change 19.53% 20.92%
Gross Profit Margin 59.28% 66.89%
Selling, General & Admin $31.02M $21.85M
YoY Change 41.97% 44.75%
% of Gross Profit 101.23% 85.23%
Research & Development $9.870M $7.300M
YoY Change 35.21% 48.16%
% of Gross Profit 32.21% 28.47%
Depreciation & Amortization $270.0K $220.0K
YoY Change 22.73% 29.41%
% of Gross Profit 0.88% 0.86%
Operating Expenses $40.89M $29.15M
YoY Change 40.28% 45.59%
Operating Profit -$10.25M -$3.513M
YoY Change 191.69% -397.46%
Interest Expense -$13.00K -$256.0K
YoY Change -94.92% 5.79%
% of Operating Profit
Other Income/Expense, Net $905.0K $243.0K
YoY Change 272.43% -17.63%
Pretax Income -$9.342M -$3.270M
YoY Change 185.69% -321.54%
Income Tax $211.0K $125.0K
% Of Pretax Income
Net Earnings -$9.553M -$3.395M
YoY Change 181.38% -549.67%
Net Earnings / Revenue -18.48% -8.86%
Basic Earnings Per Share
Diluted Earnings Per Share -$156.9K -$57.93K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.90M $34.80M
YoY Change 75.0%
Cash & Equivalents $60.88M $34.76M
Short-Term Investments
Other Short-Term Assets $16.30M $12.90M
YoY Change 26.36%
Inventory
Prepaid Expenses
Receivables $52.52M $32.40M
Other Receivables $0.00 $0.00
Total Short-Term Assets $129.7M $80.10M
YoY Change 61.97%
LONG-TERM ASSETS
Property, Plant & Equipment $3.359M $3.000M
YoY Change 11.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $533.0K $13.40M
YoY Change -96.02%
Total Long-Term Assets $16.06M $16.40M
YoY Change -2.05%
TOTAL ASSETS
Total Short-Term Assets $129.7M $80.10M
Total Long-Term Assets $16.06M $16.40M
Total Assets $145.8M $96.50M
YoY Change 51.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.713M $1.500M
YoY Change 80.87%
Accrued Expenses $7.059M $12.00M
YoY Change -41.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $88.88M $67.30M
YoY Change 32.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $20.00M
YoY Change -100.0%
Other Long-Term Liabilities $1.227M $21.10M
YoY Change -94.18%
Total Long-Term Liabilities $1.227M $41.10M
YoY Change -97.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $88.88M $67.30M
Total Long-Term Liabilities $1.227M $41.10M
Total Liabilities $107.2M $108.4M
YoY Change -1.13%
SHAREHOLDERS EQUITY
Retained Earnings -$105.7M
YoY Change
Common Stock $144.5M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $38.63M -$11.80M
YoY Change
Total Liabilities & Shareholders Equity $145.8M $96.50M
YoY Change 51.09%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$9.553M -$3.395M
YoY Change 181.38% -549.67%
Depreciation, Depletion And Amortization $270.0K $220.0K
YoY Change 22.73% 29.41%
Cash From Operating Activities -$13.83M $3.705M
YoY Change -473.36% -200.95%
INVESTING ACTIVITIES
Capital Expenditures $1.036M $105.0K
YoY Change 886.67% -152.5%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.036M -$105.0K
YoY Change 886.67% -47.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $983.0K $0.00
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -$13.83M $3.705M
Cash From Investing Activities -$1.036M -$105.0K
Cash From Financing Activities $983.0K $0.00
Net Change In Cash -$12.88M $3.600M
YoY Change -457.83% -41.27%
FREE CASH FLOW
Cash From Operating Activities -$13.83M $3.705M
Capital Expenditures $1.036M $105.0K
Free Cash Flow -$14.87M $3.600M
YoY Change -513.03% -203.75%

Facts In Submission

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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
176122000 USD
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
117104000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7010887 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6367978 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.36
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.79
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.62
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
9.95
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
CY2017Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Dividend Rate
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedDividendRate
0
CY2017Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Term1
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedTerm1
P6Y6M
CY2017Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Volatility Rate
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedVolatilityRate
0.406
CY2017Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Risk Free Interest Rate
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodRiskFreeInterestRate
0.022
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
52025000 USD
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y1M
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y7M0D
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y8M12D
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
0 USD
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
300000 USD
CY2018Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
607349 shares
CY2018Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
982000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
45524000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
38628000 USD
CY2017Q1 us-gaap Technology Services Costs
TechnologyServicesCosts
10628000 USD
CY2018Q1 us-gaap Technology Services Costs
TechnologyServicesCosts
18421000 USD
CY2017Q1 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
214000 USD
CY2018Q1 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
0 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
700000 USD
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34274718 shares
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
60850521 shares
CY2018Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Concentration of Credit Risk</font></div><div style="line-height:120%;padding-top:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our financial instruments that are exposed to concentration of credit risk consist primarily of cash and cash equivalents and trade accounts receivable. Cash deposits may be in excess of insured limits. We believe that the financial institutions that hold our cash deposits are financially sound and, accordingly, minimal credit risk exists with respect to these balances.</font></div><div style="line-height:120%;padding-top:16px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">With regard to our customers, credit evaluation and account monitoring procedures are used to minimize the risk of loss. We believe that no additional credit risk beyond amounts provided for collection loss are inherent in accounts receivable.</font></div></div>
CY2018Q1 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Deferred Revenue</font></div><div style="line-height:120%;padding-top:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred revenue primarily consists of amounts billed or billable in advance of revenue recognition from our subscriptions, software, and support and professional services described above. Deferred revenue is recognized as the revenue recognition criteria are met.</font></div></div>
CY2018Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of our condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the amounts reported in these condensed consolidated financial statements and accompanying notes. Although we believe that the estimates we use are reasonable, due to the inherent uncertainty involved in making these estimates, actual results reported in future periods could differ from those estimates.</font></div><div style="line-height:120%;padding-top:16px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Significant estimates embedded in the condensed consolidated financial statements include revenue recognition, income taxes and the related valuation allowance, stock-based compensation and fair value measurements for our common stock and preferred stock warrant.</font></div></div>

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appn-20180331.xml Edgar Link completed
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appn-20180331_cal.xml Edgar Link unprocessable
appn-20180331_def.xml Edgar Link unprocessable
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appn-20180331_pre.xml Edgar Link unprocessable
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