2024 Q3 Form 10-Q Financial Statement

#000176404624000099 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $622.2M $650.3M
YoY Change -3.86% -2.77%
Cost Of Revenue $210.1M $213.6M
YoY Change -4.76% -4.73%
Gross Profit $412.1M $436.7M
YoY Change -3.4% -1.78%
Gross Profit Margin 66.23% 67.15%
Selling, General & Admin $169.7M $185.2M
YoY Change -1.28% -3.99%
% of Gross Profit 41.18% 42.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $177.2M $184.4M
YoY Change 0.23% 3.54%
% of Gross Profit 43.0% 42.23%
Operating Expenses $169.7M $185.2M
YoY Change -1.28% -51.96%
Operating Profit $21.70M -$240.0M
YoY Change -75.11% -506.09%
Interest Expense -$72.20M -$71.10M
YoY Change -200.42% 1.43%
% of Operating Profit -332.72%
Other Income/Expense, Net
YoY Change
Pretax Income -$50.50M -$311.1M
YoY Change -281.0% 96.4%
Income Tax $15.10M -$6.800M
% Of Pretax Income
Net Earnings -$65.60M -$304.3M
YoY Change -633.33% 114.75%
Net Earnings / Revenue -10.54% -46.79%
Basic Earnings Per Share -$0.09 -$0.46
Diluted Earnings Per Share -$0.09 -$0.46
COMMON SHARES
Basic Shares Outstanding 724.1M shares 668.2M shares
Diluted Shares Outstanding 718.7M shares 685.6M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $388.5M $376.4M
YoY Change -2.63% -13.69%
Cash & Equivalents $388.5M $376.4M
Short-Term Investments
Other Short-Term Assets $81.10M $75.00M
YoY Change 7.99% -64.59%
Inventory
Prepaid Expenses $97.70M $87.10M
Receivables $771.8M $796.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.339B $1.335B
YoY Change -2.59% -5.84%
LONG-TERM ASSETS
Property, Plant & Equipment $105.4M $94.20M
YoY Change -1.5% -9.07%
Goodwill $1.737B $1.737B
YoY Change -39.38% -40.03%
Intangibles $8.727B $8.771B
YoY Change -2.55% -4.52%
Long-Term Investments
YoY Change
Other Assets $71.80M $91.60M
YoY Change -20.04% -10.63%
Total Long-Term Assets $10.69B $10.74B
YoY Change -11.22% -12.57%
TOTAL ASSETS
Total Short-Term Assets $1.339B $1.335B
Total Long-Term Assets $10.69B $10.74B
Total Assets $12.03B $12.08B
YoY Change -10.34% -11.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $126.5M $128.1M
YoY Change 27.52% 18.39%
Accrued Expenses $486.1M $421.8M
YoY Change 2.77% -4.68%
Deferred Revenue $890.2M $912.4M
YoY Change 0.11% -2.89%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $22.80M $22.80M
YoY Change 2180.0% 1972.73%
Total Short-Term Liabilities $1.526B $1.485B
YoY Change 3.88% -0.85%
LONG-TERM LIABILITIES
Long-Term Debt $4.633B $4.635B
YoY Change -4.8% -4.69%
Other Long-Term Liabilities $52.50M $49.90M
YoY Change 27.12% -65.37%
Total Long-Term Liabilities $52.50M $49.90M
YoY Change 27.12% -99.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.526B $1.485B
Total Long-Term Liabilities $52.50M $49.90M
Total Liabilities $6.517B $6.473B
YoY Change -3.25% -4.35%
SHAREHOLDERS EQUITY
Retained Earnings -$7.122B -$7.056B
YoY Change 23.16% 22.16%
Common Stock $13.07B $13.16B
YoY Change 11.42% 11.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.514B $5.605B
YoY Change
Total Liabilities & Shareholders Equity $12.03B $12.08B
YoY Change -10.34% -11.88%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$65.60M -$304.3M
YoY Change -633.33% 114.75%
Depreciation, Depletion And Amortization $177.2M $184.4M
YoY Change 0.23% 3.54%
Cash From Operating Activities $202.9M $126.2M
YoY Change 24.17% -22.29%
INVESTING ACTIVITIES
Capital Expenditures $91.50M $83.00M
YoY Change 45.47% 44.1%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$19.20M
YoY Change -282.86%
Cash From Investing Activities -$91.50M -$102.2M
YoY Change 45.47% 116.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -109.7M -25.60M
YoY Change -11.82% -44.59%
NET CHANGE
Cash From Operating Activities 202.9M 126.2M
Cash From Investing Activities -91.50M -102.2M
Cash From Financing Activities -109.7M -25.60M
Net Change In Cash 1.700M -1.600M
YoY Change -107.11% -102.32%
FREE CASH FLOW
Cash From Operating Activities $202.9M $126.2M
Capital Expenditures $91.50M $83.00M
Free Cash Flow $111.4M $43.20M
YoY Change 10.85% -58.78%

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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Depreciation Depletion And Amortization
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us-gaap Depreciation Depletion And Amortization
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us-gaap Business Combination Acquisition Related Costs
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Goodwill Impairment Loss
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us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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us-gaap Restructuring Charges
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us-gaap Restructuring Charges
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us-gaap Restructuring Charges
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us-gaap Restructuring Charges
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us-gaap Gain Loss Related To Litigation Settlement
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CY2024Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2024Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
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CY2023Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
18600000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
31300000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
37400000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-316800000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-141700000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-410600000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-117000000.0 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
685600000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
675900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
676200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
675400000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.46
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.61
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.17
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-316800000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-141700000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-410600000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-117000000.0 usd
CY2024Q2 us-gaap Dilutive Securities
DilutiveSecurities
0 usd
CY2023Q2 us-gaap Dilutive Securities
DilutiveSecurities
0 usd
us-gaap Dilutive Securities
DilutiveSecurities
0 usd
us-gaap Dilutive Securities
DilutiveSecurities
0 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-316800000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-141700000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-410600000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-117000000.0 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
685600000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
675900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
676200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
675400000 shares
CY2024Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
685600000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
675900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
676200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
675400000 shares
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.46
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.61
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.17
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
650300000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
668800000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1271500000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1297900000 usd
CY2024Q2 clvt Adjusted Ebitda
AdjustedEBITDA
274400000 usd
CY2023Q2 clvt Adjusted Ebitda
AdjustedEBITDA
284900000 usd
clvt Adjusted Ebitda
AdjustedEBITDA
510700000 usd
clvt Adjusted Ebitda
AdjustedEBITDA
537600000 usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6800000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-35300000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8200000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-98900000 usd
CY2024Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
184400000 usd
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
178100000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
363800000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
350700000 usd
CY2024Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-71100000 usd
CY2023Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-73000000.0 usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-141300000 usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-146600000 usd
CY2024Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
3100000 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
7500000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18900000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
30500000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
34300000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
71700000 usd

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