2023 Q4 Form 20-F Financial Statement

#000110465924052246 Filed on April 26, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2023
Revenue $1.505B $1.294B $4.666B
YoY Change 140.38% 106.19%
Cost Of Revenue $232.0M $513.3M
YoY Change
Gross Profit $1.273B $4.153B
YoY Change
Gross Profit Margin 84.58% 89.0%
Selling, General & Admin $1.046B $808.2M $3.162B
YoY Change 66.77% 67.9%
% of Gross Profit 82.12% 76.14%
Research & Development $22.30M $20.40M $77.29M
YoY Change 39.67% 16.78%
% of Gross Profit 1.75% 1.86%
Depreciation & Amortization $11.98M
YoY Change -6.74%
% of Gross Profit 0.29%
Operating Expenses $1.059B $952.8M $3.229B
YoY Change 50.31% 53.89%
Operating Profit $214.2M $924.0M
YoY Change 3763.34%
Interest Expense $19.40M $16.60M $59.08M
YoY Change 270.02% 260.04%
% of Operating Profit 9.06% 6.39%
Other Income/Expense, Net $3.418M -$1.500M -$1.024M
YoY Change 52.25% 25.8%
Pretax Income $237.0M $356.5M $982.1M
YoY Change -434.31% 443.93%
Income Tax $17.23M $94.40M $243.0M
% Of Pretax Income 7.27% 26.48% 24.75%
Net Earnings $220.1M $261.0M $737.1M
YoY Change -367.45% 651.42%
Net Earnings / Revenue 14.62% 20.17% 15.8%
Basic Earnings Per Share $1.82
Diluted Earnings Per Share $0.53 $0.63 $1.78
COMMON SHARES
Basic Shares Outstanding 412.8M 405.6M
Diluted Shares Outstanding 414.8M

Balance Sheet

Concept 2023 Q4 2023 Q3 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.593B $2.982B $3.593B
YoY Change 105.65% 105.65%
Cash & Equivalents $2.841B $2.198B $2.841B
Short-Term Investments $751.8M $783.9M $751.8M
Other Short-Term Assets $251.9M $246.3M $251.9M
YoY Change 88.12% 88.12%
Inventory $119.1M $113.7M $119.1M
Prepaid Expenses
Receivables $162.1M $143.4M $162.1M
Other Receivables $115.9M $117.9M $115.9M
Total Short-Term Assets $4.242B $3.603B $4.242B
YoY Change 99.64% 99.64%
LONG-TERM ASSETS
Property, Plant & Equipment $1.979B $2.043B $1.979B
YoY Change -13.68% -13.68%
Goodwill $2.457M
YoY Change -2.85%
Intangibles $598.0K
YoY Change -25.53%
Long-Term Investments
YoY Change
Other Assets $246.8M $221.5M $246.8M
YoY Change -3.13% -3.13%
Total Long-Term Assets $2.345B $2.371B $2.345B
YoY Change -11.07% -11.07%
TOTAL ASSETS
Total Short-Term Assets $4.242B $3.603B $4.242B
Total Long-Term Assets $2.345B $2.371B $2.345B
Total Assets $6.587B $5.974B $6.587B
YoY Change 38.32% 38.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $594.5M $410.3M $594.5M
YoY Change 221.55% 221.55%
Accrued Expenses $1.170B $1.098B $1.170B
YoY Change 55.28% 55.28%
Deferred Revenue $406.1M
YoY Change 100.04%
Short-Term Debt $70.00M $70.00M $70.00M
YoY Change -50.99% -50.99%
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $2.378B $2.033B $2.378B
YoY Change 76.45% 76.45%
LONG-TERM LIABILITIES
Long-Term Debt $2.000M $2.000M $2.000M
YoY Change 0.0% 0.0%
Other Long-Term Liabilities $2.147B $2.143B $2.147B
YoY Change -3.5% -3.5%
Total Long-Term Liabilities $2.149B $2.145B $2.149B
YoY Change -3.5% -3.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.378B $2.033B $2.378B
Total Long-Term Liabilities $2.149B $2.145B $2.149B
Total Liabilities $4.519B $4.170B $4.519B
YoY Change 26.77% 26.77%
SHAREHOLDERS EQUITY
Retained Earnings $71.44M
YoY Change -729.27%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.068B $1.803B $2.068B
YoY Change
Total Liabilities & Shareholders Equity $6.587B $5.974B $6.587B
YoY Change 38.32% 38.32%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2023
OPERATING ACTIVITIES
Net Income $220.1M $261.0M $737.1M
YoY Change -367.45% 651.42%
Depreciation, Depletion And Amortization $11.98M
YoY Change -6.74%
Cash From Operating Activities $564.0M $543.0M $1.989B
YoY Change 289.81% 601.03%
INVESTING ACTIVITIES
Capital Expenditures $9.827M $4.500M $41.72M
YoY Change -54.37% 6.36%
Acquisitions
YoY Change
Other Investing Activities $53.03M -$774.3M -$558.8M
YoY Change -133.83% 265.24%
Cash From Investing Activities $43.21M -$778.8M -$600.5M
YoY Change -124.23% 212.41%
FINANCING ACTIVITIES
Cash Dividend Paid $150.6M $21.21M
YoY Change
Common Stock Issuance & Retirement, Net $52.46M $53.20M $105.6M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 52.46M -98.30M -146.9M
YoY Change -85.49% -132.2%
NET CHANGE
Cash From Operating Activities 564.0M 543.0M 1.989B
Cash From Investing Activities 43.21M -778.8M -600.5M
Cash From Financing Activities 52.46M -98.30M -146.9M
Net Change In Cash 659.7M -334.1M 1.241B
YoY Change 101.18% 126.6%
FREE CASH FLOW
Cash From Operating Activities $564.0M $543.0M $1.989B
Capital Expenditures $9.827M $4.500M $41.72M
Free Cash Flow $554.2M $538.5M $1.947B
YoY Change 349.99% 696.47%

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CY2023 us-gaap Use Of Estimates
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<table style="border-collapse:collapse;border:0;"><tr><td style="width:18pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin-bottom:12pt;margin-top:0pt;"><span style="font-style:italic;">(c)</span></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin-bottom:12pt;margin-top:0pt;"><span style="font-style:italic;">Use of estimates</span></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the balance sheet date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Items subject to such estimates and assumptions include, but are not limited to, estimate of breakage, the fair value of share-based compensation awards, allowance for doubtful accounts, impairment of inventory and the impairment of long-lived assets. Changes in facts and circumstances may result in revised estimates. Actual results could differ from those estimates, and as such, differences may be material to the consolidated financial statements.</p>
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402308000
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
21444931
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.85
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y4M6D
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110535000
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4657083
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.88
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1000
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.01
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
19427760
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.75
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6673254
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.57
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y11M4D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
21475000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5211516
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.68
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P9Y14D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
16216000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.93
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
22.32
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
34.78
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
27705000
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y10M6D
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
159957000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.017
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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0.032
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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0.031
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.040
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.034
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.038
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
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0.346
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.376
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
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0.390
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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0.404
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.402
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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0.465
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0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q4 atat Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Exercise Multiple
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2.2
CY2022Q4 atat Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Exercise Multiple
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedExerciseMultiple
2.2
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P10Y
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P10Y
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P10Y
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96605000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
163193000
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
163978000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
163193000
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
163978000
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500000000
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3000000000
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0.0001
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8822664
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20645000
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0.05
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150579000
CY2023Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
3607000

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