2024 Q3 Form 10-Q Financial Statement

#000162828024045114 Filed on November 05, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $139.0M
YoY Change 1.38%
Cost Of Revenue $45.41M
YoY Change -5.28%
Gross Profit $93.55M
YoY Change 4.97%
Gross Profit Margin 67.32%
Selling, General & Admin $81.09M
YoY Change 8.35%
% of Gross Profit 86.68%
Research & Development $3.808M
YoY Change 12.07%
% of Gross Profit 4.07%
Depreciation & Amortization $12.27M
YoY Change -15.92%
% of Gross Profit 13.12%
Operating Expenses $84.90M
YoY Change 8.51%
Operating Profit $4.074M
YoY Change -39.64%
Interest Expense -$9.532M
YoY Change -9.97%
% of Operating Profit -233.97%
Other Income/Expense, Net -$8.906M
YoY Change -19.77%
Pretax Income -$4.832M
YoY Change 11.08%
Income Tax $589.0K
% Of Pretax Income
Net Earnings -$4.824M
YoY Change 31.05%
Net Earnings / Revenue -3.47%
Basic Earnings Per Share -$0.07
Diluted Earnings Per Share -$0.07
COMMON SHARES
Basic Shares Outstanding 65.26M shares
Diluted Shares Outstanding 65.26M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.07M
YoY Change 46.57%
Cash & Equivalents $43.07M
Short-Term Investments
Other Short-Term Assets $43.66M
YoY Change 184.65%
Inventory $90.03M
Prepaid Expenses
Receivables $121.9M
Other Receivables $0.00
Total Short-Term Assets $298.7M
YoY Change 14.6%
LONG-TERM ASSETS
Property, Plant & Equipment $39.20M
YoY Change -31.34%
Goodwill $7.462M
YoY Change 0.0%
Intangibles $414.8M
YoY Change -17.9%
Long-Term Investments $1.933M
YoY Change -70.44%
Other Assets $7.396M
YoY Change
Total Long-Term Assets $470.8M
YoY Change -18.31%
TOTAL ASSETS
Total Short-Term Assets $298.7M
Total Long-Term Assets $470.8M
Total Assets $769.5M
YoY Change -8.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.85M
YoY Change -59.27%
Accrued Expenses $128.7M
YoY Change 5.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $38.57M
YoY Change 240.69%
Total Short-Term Liabilities $211.5M
YoY Change 18.08%
LONG-TERM LIABILITIES
Long-Term Debt $345.0M
YoY Change -7.89%
Other Long-Term Liabilities $26.15M
YoY Change -18.27%
Total Long-Term Liabilities $371.2M
YoY Change -8.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $211.5M
Total Long-Term Liabilities $371.2M
Total Liabilities $582.7M
YoY Change -3.47%
SHAREHOLDERS EQUITY
Retained Earnings -$354.9M
YoY Change 15.18%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $148.7M
YoY Change
Total Liabilities & Shareholders Equity $769.5M
YoY Change -8.06%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income -$4.824M
YoY Change 31.05%
Depreciation, Depletion And Amortization $12.27M
YoY Change -15.92%
Cash From Operating Activities $10.32M
YoY Change -4.44%
INVESTING ACTIVITIES
Capital Expenditures $64.00K
YoY Change -95.42%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$64.00K
YoY Change -100.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 362.0K
YoY Change -100.58%
NET CHANGE
Cash From Operating Activities 10.32M
Cash From Investing Activities -64.00K
Cash From Financing Activities 362.0K
Net Change In Cash 10.61M
YoY Change -159.12%
FREE CASH FLOW
Cash From Operating Activities $10.32M
Capital Expenditures $64.00K
Free Cash Flow $10.25M
YoY Change 9.09%

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us-gaap Gain Loss On Sale Of Business
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CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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dei Entity Address City Or Town
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Durham
dei Entity Address State Or Province
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NC
dei Entity Central Index Key
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0001665988
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Fiscal Period Focus
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Q3
dei Document Quarterly Report
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true
dei Entity Interactive Data Current
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dei Entity Small Business
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dei Entity Emerging Growth Company
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us-gaap Depreciation And Amortization
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us-gaap Impairment Of Intangible Assets Excluding Goodwill
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CY2023Q4 us-gaap Finance Lease Right Of Use Asset Statement Of Financial Position Extensible List
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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reclassifications</span></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified to conform to current period presentation. During the first quarter of 2024, the Company reclassified revenue and expense of the SonicOne Ultrasonic Cleansing and Debridement Systems (“SonicOne”) from the Restorative Therapies to the Surgical Solutions business. The reclassification of SonicOne activity affected prior presentation of disaggregated revenue by business, which is detailed further in </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Note 12. Revenue recognition</span>. The reclassification had no effect on previously reported total revenues, net loss, other comprehensive loss, stockholders’ equity or cash flows.
us-gaap Use Of Estimates
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<div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of estimates</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities, as of the date of the financial statements, as well as the reported amounts of revenues and expenses during the period. On an ongoing basis, management evaluates these estimates, including those related to contractual allowances and sales incentives, allowance for credit losses, inventory reserves, goodwill and intangible assets impairment, valuation of assets and liabilities assumed in acquisitions, useful lives of long lived assets, fair value measurements, litigation and contingent liabilities, income taxes, and equity-based compensation. Management bases its estimates on historical experience, future expectations and other relevant assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from those estimates.</span></div>
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Files In Submission

Name View Source Status
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