2019 Q2 Form 10-Q Financial Statement

#000146776019000014 Filed on July 24, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q1
Revenue $118.5M $86.00M
YoY Change 19.46% 16.53%
Cost Of Revenue $33.50M $22.70M
YoY Change 17.96% 33.53%
Gross Profit $85.00M $63.20M
YoY Change 20.06% 11.27%
Gross Profit Margin 71.73% 73.49%
Selling, General & Admin $16.80M $13.10M
YoY Change 14.29% -0.76%
% of Gross Profit 19.76% 20.73%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $16.83M $13.09M
YoY Change 14.78% -0.76%
Operating Profit $68.17M $50.11M
YoY Change 21.43% 14.9%
Interest Expense $33.51M $22.74M
YoY Change 17.84% 33.53%
% of Operating Profit 49.16% 45.38%
Other Income/Expense, Net $15.00M
YoY Change -400.0%
Pretax Income $61.40M $49.40M
YoY Change 11.03% 4.88%
Income Tax
% Of Pretax Income
Net Earnings $61.42M $49.43M
YoY Change 10.98% 4.9%
Net Earnings / Revenue 51.83% 57.48%
Basic Earnings Per Share $0.38 $0.38
Diluted Earnings Per Share $0.37 $0.38
COMMON SHARES
Basic Shares Outstanding 145.6M shares 110.2M shares
Diluted Shares Outstanding 174.1M shares 111.9M shares

Balance Sheet

Concept 2019 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $116.5M $98.30M
YoY Change 52.49% -31.21%
Cash & Equivalents $116.5M $98.31M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $116.5M $98.30M
YoY Change 52.49% -40.5%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.242B $1.069B
YoY Change 8.67% -34.31%
Other Assets
YoY Change
Total Long-Term Assets $5.508B $4.144B
YoY Change 12.3% 13.74%
TOTAL ASSETS
Total Short-Term Assets $116.5M $98.30M
Total Long-Term Assets $5.508B $4.144B
Total Assets $5.624B $4.242B
YoY Change 12.92% 11.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.200M $4.400M
YoY Change 105.71% -49.43%
Accrued Expenses $13.50M $5.300M
YoY Change -5.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $607.3M
YoY Change
Total Short-Term Liabilities $712.6M $81.40M
YoY Change 688.27% 21.13%
LONG-TERM LIABILITIES
Long-Term Debt $2.226B $1.799B
YoY Change -12.65% -0.76%
Other Long-Term Liabilities $13.10M $14.50M
YoY Change
Total Long-Term Liabilities $2.239B $1.813B
YoY Change -12.14% 0.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $712.6M $81.40M
Total Long-Term Liabilities $2.239B $1.813B
Total Liabilities $2.953B $1.895B
YoY Change 11.93% 0.8%
SHAREHOLDERS EQUITY
Retained Earnings -$147.7M -$97.87M
YoY Change 38.49% 84.54%
Common Stock $2.819B $2.445B
YoY Change 15.1% 23.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.671B $2.348B
YoY Change
Total Liabilities & Shareholders Equity $5.624B $4.242B
YoY Change 12.92% 11.39%

Cashflow Statement

Concept 2019 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $61.42M $49.43M
YoY Change 10.98% 4.9%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $52.70M $88.28M
YoY Change -36.73% 245.19%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$267.1M -$155.1M
YoY Change -66.52% -58.63%
Cash From Investing Activities -$267.1M -$155.1M
YoY Change -66.52% -58.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $275.9M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 221.6M $87.43M
YoY Change -68.0% -69.16%
NET CHANGE
Cash From Operating Activities 52.70M $88.28M
Cash From Investing Activities -267.1M -$155.1M
Cash From Financing Activities 221.6M $87.43M
Net Change In Cash 7.200M $20.64M
YoY Change -132.88% -131.34%
FREE CASH FLOW
Cash From Operating Activities $52.70M $88.28M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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0 USD
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PaymentstoPurchaseSubordinateCommercialRealEstateLoansHeldforsale
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us-gaap Proceeds From Collection Of Mortgage Loans Held For Sale
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us-gaap Payments For Repurchase Of Redeemable Preferred Stock
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PaymentsOfStockIssuanceCosts
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us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
497500000 USD
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ProceedsFromIssuanceOfSecuredDebt
0 USD
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
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0 USD
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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
InterestPaidNet
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0 USD
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CY2019Q2 ari Payablefor Offering Costs
PayableforOfferingCosts
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PayableforOfferingCosts
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0 USD
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us-gaap Number Of Operating Segments
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CY2019Q2 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
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5443744000 USD
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MortgageLoansOnRealEstateCommercialAndConsumerNet
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CY2019Q2 ari Mortgage Loanson Real Estate Commitmentto Lend Unfunded Amount
MortgageLoansonRealEstateCommitmenttoLendUnfundedAmount
1192118000 USD
CY2018Q4 ari Mortgage Loanson Real Estate Commitmentto Lend Unfunded Amount
MortgageLoansonRealEstateCommitmenttoLendUnfundedAmount
1095598000 USD
ari Loans And Leases Receivable Weighted Average Interest Rate
LoansAndLeasesReceivableWeightedAverageInterestRate
0.082
CY2018 ari Loans And Leases Receivable Weighted Average Interest Rate
LoansAndLeasesReceivableWeightedAverageInterestRate
0.084
ari Loansand Leases Receivable Weighted Average Remaining Term
LoansandLeasesReceivableWeightedAverageRemainingTerm
P2Y10M24D
CY2018 ari Loansand Leases Receivable Weighted Average Remaining Term
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P2Y9M18D
CY2019Q2 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
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1.000
CY2018Q4 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
4927593000 USD
CY2018 ari Mortgage Loans On Real Estate Commercial And Consumer Percentage Of Portfolio
MortgageLoansOnRealEstateCommercialAndConsumerPercentageOfPortfolio
1.000
CY2019Q2 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
5443744000 USD
ari Mortgage Loans On Real Estate Commercial And Consumer Percentage Of Portfolio
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1.000
CY2018Q4 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
4927593000 USD
CY2018 ari Mortgage Loans On Real Estate Commercial And Consumer Percentage Of Portfolio
MortgageLoansOnRealEstateCommercialAndConsumerPercentageOfPortfolio
1.000
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LoansAndLeasesReceivableNumberOfContracts
71 loan
CY2019Q2 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
5443744000 USD
ari Mortgage Loans On Real Estate Commercial And Consumer Percentage Of Portfolio
MortgageLoansOnRealEstateCommercialAndConsumerPercentageOfPortfolio
1
CY2018 ari Loans And Leases Receivable Number Of Contracts
LoansAndLeasesReceivableNumberOfContracts
69 loan
CY2018Q4 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
4927593000 USD
CY2018 ari Mortgage Loans On Real Estate Commercial And Consumer Percentage Of Portfolio
MortgageLoansOnRealEstateCommercialAndConsumerPercentageOfPortfolio
1
ari Loans And Leases Receivable Weighted Average Risk Rating
LoansAndLeasesReceivableWeightedAverageRiskRating
3.0
CY2018 ari Loans And Leases Receivable Weighted Average Risk Rating
LoansAndLeasesReceivableWeightedAverageRiskRating
3.1
CY2019Q2 us-gaap Paid In Kind Interest
PaidInKindInterest
14600000 USD
us-gaap Paid In Kind Interest
PaidInKindInterest
29100000 USD
CY2018Q2 us-gaap Paid In Kind Interest
PaidInKindInterest
9100000 USD
us-gaap Paid In Kind Interest
PaidInKindInterest
19700000 USD
CY2019Q2 ari Proceeds From Prepayment Penalties
ProceedsFromPrepaymentPenalties
0 USD
ari Proceeds From Prepayment Penalties
ProceedsFromPrepaymentPenalties
3700000 USD
CY2018Q2 ari Proceeds From Prepayment Penalties
ProceedsFromPrepaymentPenalties
1600000 USD
CY2019Q2 ari Loan Principal Proceeds Held By Servicer
LoanPrincipalProceedsHeldByServicer
4600000 USD
CY2019Q2 us-gaap Interest Receivable
InterestReceivable
39047000 USD
CY2018Q4 us-gaap Interest Receivable
InterestReceivable
33399000 USD
CY2019Q2 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
1025000 USD
CY2018Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
321000 USD
CY2019Q2 us-gaap Other Assets
OtherAssets
40072000 USD
CY2018Q4 us-gaap Other Assets
OtherAssets
33720000 USD
CY2019Q2 ari Dividends Payable Including Preferred Stock Dividends
DividendsPayableIncludingPreferredStockDividends
74295000 USD
CY2018Q4 ari Dividends Payable Including Preferred Stock Dividends
DividendsPayableIncludingPreferredStockDividends
69033000 USD
CY2019Q2 us-gaap Derivative Asset Fair Value Of Collateral
DerivativeAssetFairValueOfCollateral
1820000 USD
CY2018Q4 us-gaap Derivative Asset Fair Value Of Collateral
DerivativeAssetFairValueOfCollateral
20000000 USD
CY2019Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
13470000 USD
CY2018Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
14208000 USD
CY2019Q2 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
7151000 USD
CY2018Q4 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
1505000 USD
CY2019Q2 ari Accounts Payable Accrued Liabilitiesand Other Liabilities
AccountsPayableAccruedLiabilitiesandOtherLiabilities
96736000 USD
CY2018Q4 ari Accounts Payable Accrued Liabilitiesand Other Liabilities
AccountsPayableAccruedLiabilitiesandOtherLiabilities
104746000 USD
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4300000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8200000 USD
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4000000.0 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7400000 USD
CY2019Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
450000000 shares
CY2019Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
153531597 shares
CY2018Q1 ari Proceedsfrom Issuanceof Common Stock Netof Offering Costs
ProceedsfromIssuanceofCommonStockNetofOfferingCosts
275900000 USD
CY2019Q2 ari Proceedsfrom Issuanceof Common Stock Netof Offering Costs
ProceedsfromIssuanceofCommonStockNetofOfferingCosts
314800000 USD
ari Loss Contingency Damages Sought Loss On Investment Value
LossContingencyDamagesSoughtLossOnInvestmentValue
70000000.0 USD
us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
700000000.0 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
61424000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
55346000 USD
us-gaap Net Income Loss
NetIncomeLoss
129182000 USD
us-gaap Net Income Loss
NetIncomeLoss
104779000 USD
CY2019Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
4919000 USD
CY2018Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6834000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
11754000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
13669000 USD
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
56505000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
48512000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
117428000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
91110000 USD
CY2019Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
849000 USD
CY2018Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
738000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1700000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1489000 USD
CY2019Q2 ari Net Income Loss Attributableto Parent Basic
NetIncomeLossAttributabletoParentBasic
55656000 USD
CY2018Q2 ari Net Income Loss Attributableto Parent Basic
NetIncomeLossAttributabletoParentBasic
47774000 USD
ari Net Income Loss Attributableto Parent Basic
NetIncomeLossAttributabletoParentBasic
115728000 USD
ari Net Income Loss Attributableto Parent Basic
NetIncomeLossAttributabletoParentBasic
89621000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
61424000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
55346000 USD
us-gaap Net Income Loss
NetIncomeLoss
129182000 USD
us-gaap Net Income Loss
NetIncomeLoss
104779000 USD
CY2019Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
4919000 USD
CY2018Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6834000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
11754000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
13669000 USD
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
56505000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
48512000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
117428000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
91110000 USD
CY2019Q2 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
8619000 USD
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
17881000 USD
CY2019Q2 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
65124000 USD
CY2018Q2 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
48512000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
135309000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
91110000 USD
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145567963 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
123019993 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
140117813 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
116651305 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
174101234 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124629317 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
169418177 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
118281153 shares
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.38
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.83
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.78
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.37
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.80
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.78
CY2019Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
28533271 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
29300363 shares

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