2018 Q4 Form 10-Q Financial Statement

#000173694618000012 Filed on November 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $122.2M $110.9M $124.8M
YoY Change -2.1% 40.1%
Cost Of Revenue $117.2M $101.4M $76.54M
YoY Change 53.13% 62.33%
Gross Profit $4.981M $28.29M $29.82M
YoY Change -83.29% 69.3%
Gross Profit Margin 4.08% 25.5% 23.9%
Selling, General & Admin $24.10M $21.20M $14.32M
YoY Change 68.3% 98.0%
% of Gross Profit 483.84% 74.93% 48.03%
Research & Development $16.90M $16.10M $8.289M
YoY Change 103.88% 86.93%
% of Gross Profit 339.29% 56.9% 27.8%
Depreciation & Amortization $1.900M $1.100M $500.0K
YoY Change 280.0% 175.0%
% of Gross Profit 38.14% 3.89% 1.68%
Operating Expenses $41.00M $43.12M $22.61M
YoY Change 81.34% 123.2%
Operating Profit -$36.02M -$13.38M $5.743M
YoY Change -727.18% 412.88%
Interest Expense $700.0K $500.0K $0.00
YoY Change
% of Operating Profit 0.0%
Other Income/Expense, Net -$300.0K -$129.0K $716.0K
YoY Change -141.9% -121.75%
Pretax Income -$39.10M -$13.00M $6.459M
YoY Change -705.36% 545.26%
Income Tax -$58.00K $288.0K $327.0K
% Of Pretax Income 5.06%
Net Earnings -$39.07M -$41.28M $2.663M
YoY Change -1567.25% 1818.4%
Net Earnings / Revenue -31.99% -37.21% 2.13%
Basic Earnings Per Share -$0.53 -$0.29 $0.04
Diluted Earnings Per Share -$0.53 -$0.29 $0.04
COMMON SHARES
Basic Shares Outstanding 74.25M shares 69.60M shares 62.50M shares
Diluted Shares Outstanding 69.60M shares 62.50M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $201.0M $100.0K
YoY Change
Cash & Equivalents $151.3M $148.1M $108.0K
Short-Term Investments $49.70M $39.80M
Other Short-Term Assets $11.40M $6.600M
YoY Change
Inventory $124.8M $132.5M $82.95M
Prepaid Expenses
Receivables $166.0M $117.1M $157.7M
Other Receivables $12.20M $0.00
Total Short-Term Assets $515.5M $474.6M $243.8M
YoY Change 111.47%
LONG-TERM ASSETS
Property, Plant & Equipment $49.43M $39.61M $3.883M
YoY Change 1172.93%
Goodwill $15.64M $15.64M $15.64M
YoY Change 0.0% 0.0%
Intangibles $2.823M $3.204M $4.348M
YoY Change -35.07%
Long-Term Investments
YoY Change
Other Assets $8.449M $10.20M $2.193M
YoY Change 285.27%
Total Long-Term Assets $80.47M $68.65M $26.06M
YoY Change 208.77%
TOTAL ASSETS
Total Short-Term Assets $515.5M $474.6M $243.8M
Total Long-Term Assets $80.47M $68.65M $26.06M
Total Assets $595.9M $543.2M $269.8M
YoY Change 120.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $82.54M $49.95M $20.71M
YoY Change 298.54%
Accrued Expenses $172.0M $104.5M $172.0M
YoY Change 0.0%
Deferred Revenue $26.68M $26.51M $34.07M
YoY Change -21.7%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $282.0M $196.4M $130.9M
YoY Change 115.46%
LONG-TERM LIABILITIES
Long-Term Debt $20.00M $0.00
YoY Change
Other Long-Term Liabilities $1.141M $1.066M $0.00
YoY Change
Total Long-Term Liabilities $1.141M $1.066M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $282.0M $196.4M $130.9M
Total Long-Term Liabilities $1.141M $1.066M $0.00
Total Liabilities $326.4M $237.5M $144.4M
YoY Change 126.07%
SHAREHOLDERS EQUITY
Retained Earnings -$45.85M -$6.776M $125.4M
YoY Change -136.56%
Common Stock $74.00K $74.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $269.5M $305.7M $125.4M
YoY Change
Total Liabilities & Shareholders Equity $595.9M $543.2M $269.8M
YoY Change 120.87%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income -$39.07M -$41.28M $2.663M
YoY Change -1567.25% 1818.4%
Depreciation, Depletion And Amortization $1.900M $1.100M $500.0K
YoY Change 280.0% 175.0%
Cash From Operating Activities $28.62M -$28.13M $10.49M
YoY Change 172.83% 569.76%
INVESTING ACTIVITIES
Capital Expenditures -$10.82M -$7.120M -$1.050M
YoY Change 930.48%
Acquisitions
YoY Change
Other Investing Activities -$9.850M $0.00 $0.00
YoY Change
Cash From Investing Activities -$20.66M -$7.120M -$1.050M
YoY Change 1867.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -610.0K 35.21M -9.300M
YoY Change -93.44% 756.69%
NET CHANGE
Cash From Operating Activities 28.62M -28.13M 10.49M
Cash From Investing Activities -20.66M -7.120M -1.050M
Cash From Financing Activities -610.0K 35.21M -9.300M
Net Change In Cash 7.350M -40.00K 140.0K
YoY Change 5150.0% -55.56%
FREE CASH FLOW
Cash From Operating Activities $28.62M -$28.13M $10.49M
Capital Expenditures -$10.82M -$7.120M -$1.050M
Free Cash Flow $39.44M -$21.01M $11.54M
YoY Change 241.77% 400.24%

Facts In Submission

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202000 USD
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OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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0 USD
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-1000 USD
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-1000 USD
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2000 USD
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0 USD
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0 USD
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OtherComprehensiveIncomeLossBeforeTax
16000 USD
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16000 USD
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14000 USD
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14000 USD
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0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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0 USD
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-4000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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1066000 USD
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us-gaap Other Nonoperating Income Expense
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0 USD
us-gaap Payments To Acquire Property Plant And Equipment
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2182000 USD
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PaymentsToAcquirePropertyPlantAndEquipment
10854000 USD
us-gaap Payments To Acquire Short Term Investments
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0 USD
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16476000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
36660000 USD
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ProductWarrantyAccrualWarrantiesIssued
344000 USD
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0 USD
us-gaap Professional Fees
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0 USD
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5823000 USD
us-gaap Professional Fees
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23649000 USD
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7270000 USD
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39774000 USD
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0.001
CY2018Q3 us-gaap Preferred Stock Shares Authorized
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50000000 shares
CY2018Q3 us-gaap Preferred Stock Shares Authorized
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50000000 shares
CY2018Q3 us-gaap Preferred Stock Shares Issued
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0 shares
CY2018Q3 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2018Q3 us-gaap Preferred Stock Value
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0 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
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3018000 USD
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us-gaap Proceeds From Contributions From Parent
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71507000 USD
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15949000 USD
CY2017Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
18000000 USD
CY2017Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
25491000 USD
CY2017Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
31756000 USD
CY2018Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3487000 USD
CY2018Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3618000 USD
CY2017Q4 us-gaap Product Warranty Accrual Classified Current
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31756000 USD
CY2018Q3 us-gaap Product Warranty Accrual Classified Current
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3618000 USD
CY2017Q4 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
8985000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
27118000 USD
CY2018Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
213000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
591000 USD
us-gaap Product Warranty Accrual Warranties Issued
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1166000 USD
CY2018Q3 us-gaap Property Plant And Equipment Gross
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44900000 USD
us-gaap Reclassification From Aoci Current Period Tax
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CY2017Q4 us-gaap Research And Development Expense
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CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
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us-gaap Revenue From Contract With Customer Including Assessed Tax
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342760000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
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CY2018Q3 us-gaap Revenue Remaining Performance Obligation
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us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
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us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
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P1Y
us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
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P1Y
us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
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CY2017Q4 us-gaap Selling And Marketing Expense
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199000 USD
CY2017Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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0 shares
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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62500000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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62500000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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69600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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64867000 shares

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