2024 Q1 Form 10-K Financial Statement

#000157909124000027 Filed on March 05, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $820.0M $803.0M $3.042B
YoY Change 8.04% -68.52% 19.25%
Cost Of Revenue $206.0M $266.0M $1.108B
YoY Change -15.23% -72.58% 14.23%
Gross Profit $614.0M $537.0M $1.934B
YoY Change 18.99% -66.03% 22.33%
Gross Profit Margin 74.88% 66.87% 63.58%
Selling, General & Admin $282.0M $286.0M $1.764B
YoY Change 20.0% -71.14% 78.0%
% of Gross Profit 45.93% 53.26% 91.21%
Research & Development $115.0M $205.0M $2.312B
YoY Change -8.73% -60.12% 349.81%
% of Gross Profit 18.73% 38.18% 119.54%
Depreciation & Amortization $12.00M $10.00M $43.00M
YoY Change 9.09% -70.59% 26.47%
% of Gross Profit 1.95% 1.86% 2.22%
Operating Expenses $470.0M $491.0M $4.076B
YoY Change 28.42% -67.68% 168.33%
Operating Profit $144.0M $46.00M -$2.142B
YoY Change -4.0% -25.81% -3554.84%
Interest Expense $22.00M $24.00M $81.00M
YoY Change 57.14% 41.18% 376.47%
% of Operating Profit 15.28% 52.17%
Other Income/Expense, Net -$1.000M $2.000M $0.00
YoY Change -125.0% -100.0%
Pretax Income $165.0M $72.00M -$2.061B
YoY Change 0.61% 1.41% -3002.82%
Income Tax $35.00M -$63.00M -$439.0M
% Of Pretax Income 21.21% -87.5%
Net Earnings $130.0M $135.0M -$1.622B
YoY Change 1.56% 39.18% -1772.16%
Net Earnings / Revenue 15.85% 16.81% -53.32%
Basic Earnings Per Share $0.47 -$12.43
Diluted Earnings Per Share $0.43 $0.44 -$12.43
COMMON SHARES
Basic Shares Outstanding 266.5M shares 280.2M shares 130.6M shares
Diluted Shares Outstanding 302.1M shares 130.6M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.534B $2.186B $2.186B
YoY Change -14.01% 27.54% 27.54%
Cash & Equivalents $1.514B $2.137B $2.137B
Short-Term Investments $20.00M $49.00M $49.00M
Other Short-Term Assets $256.0M $266.0M $266.0M
YoY Change 44.63% 44.57% 44.57%
Inventory
Prepaid Expenses
Receivables $917.0M $853.0M $853.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.707B $3.305B $3.305B
YoY Change -3.67% 20.62% 20.62%
LONG-TERM ASSETS
Property, Plant & Equipment $153.0M $166.0M $166.0M
YoY Change 91.25% 336.84% 110.13%
Goodwill $318.0M $318.0M
YoY Change 0.32%
Intangibles $71.00M $77.00M
YoY Change -25.24%
Long-Term Investments $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Assets $12.00M $861.0M $861.0M
YoY Change -96.95% 7075.0% 114.18%
Total Long-Term Assets $1.390B $1.422B $1.422B
YoY Change 53.59% 53.07% 53.07%
TOTAL ASSETS
Total Short-Term Assets $2.707B $3.305B $3.305B
Total Long-Term Assets $1.390B $1.422B $1.422B
Total Assets $4.097B $4.727B $4.727B
YoY Change 10.28% 28.84% 28.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $49.00M $72.00M $72.00M
YoY Change 44.12% -18.18% -18.18%
Accrued Expenses $442.0M $464.0M $464.0M
YoY Change 22.44% -9.9% 4.98%
Deferred Revenue $212.0M $197.0M
YoY Change 10.06%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $716.0M $733.0M $733.0M
YoY Change 0.99% -7.8% -7.8%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $38.00M $67.00M $67.00M
YoY Change -66.67% -16.25% -42.24%
Total Long-Term Liabilities $38.00M $67.00M $67.00M
YoY Change -66.67% -16.25% -42.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $716.0M $733.0M $733.0M
Total Long-Term Liabilities $38.00M $67.00M $67.00M
Total Liabilities $777.0M $800.0M $800.0M
YoY Change -5.59% -12.18% -12.18%
SHAREHOLDERS EQUITY
Retained Earnings -$3.220B -$2.635B
YoY Change 169.7%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.141B $3.927B $3.927B
YoY Change
Total Liabilities & Shareholders Equity $4.097B $4.727B $4.727B
YoY Change 10.28% 28.84% 28.84%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $130.0M $135.0M -$1.622B
YoY Change 1.56% 39.18% -1772.16%
Depreciation, Depletion And Amortization $12.00M $10.00M $43.00M
YoY Change 9.09% -70.59% 26.47%
Cash From Operating Activities $105.0M $233.0M $586.0M
YoY Change 50.0% -15.88% 111.55%
INVESTING ACTIVITIES
Capital Expenditures $14.00M $18.00M $56.00M
YoY Change 55.56% -30.77% 115.38%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $28.00M $7.000M $191.0M
YoY Change -45.1% -95.1% 33.57%
Cash From Investing Activities $13.00M -$11.00M $135.0M
YoY Change -69.05% -109.4% 15.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $546.0M
YoY Change 1014.29%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$750.0M -36.00M -30.00M
YoY Change 74900.0% -178.26% -165.22%
NET CHANGE
Cash From Operating Activities $105.0M 233.0M 586.0M
Cash From Investing Activities $13.00M -11.00M 135.0M
Cash From Financing Activities -$750.0M -36.00M -30.00M
Net Change In Cash -$636.0M 186.0M 691.0M
YoY Change -672.97% -57.73% 57.05%
FREE CASH FLOW
Cash From Operating Activities $105.0M $233.0M $586.0M
Capital Expenditures $14.00M $18.00M $56.00M
Free Cash Flow $91.00M $215.0M $530.0M
YoY Change 49.18% -14.34% 111.16%

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CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
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