2019 Q1 Form 10-Q Financial Statement

#000162828019006463 Filed on May 09, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $64.83M $57.66M
YoY Change 12.44% 108.92%
Cost Of Revenue $1.240M $1.174M
YoY Change 5.62% 81.73%
Gross Profit $63.59M $56.49M
YoY Change 12.58% 109.57%
Gross Profit Margin 98.09% 97.96%
Selling, General & Admin $24.39M $18.44M
YoY Change 32.26% 22.63%
% of Gross Profit 38.35% 32.65%
Research & Development $20.24M $17.05M
YoY Change 18.73% 137.6%
% of Gross Profit 31.84% 30.19%
Depreciation & Amortization $96.00K $48.00K
YoY Change 100.0% 269.23%
% of Gross Profit 0.15% 0.08%
Operating Expenses $44.63M $35.49M
YoY Change 25.76% 59.77%
Operating Profit $18.96M $21.00M
YoY Change -9.71% 342.93%
Interest Expense $1.100M $290.0K
YoY Change 279.31% -207.41%
% of Operating Profit 5.8% 1.38%
Other Income/Expense, Net $1.097M
YoY Change
Pretax Income $20.05M $21.29M
YoY Change -5.81% 371.52%
Income Tax $1.800M $3.830M
% Of Pretax Income 8.98% 17.99%
Net Earnings $18.27M $17.46M
YoY Change 4.67% 297.88%
Net Earnings / Revenue 28.19% 30.28%
Basic Earnings Per Share $0.16 $0.15
Diluted Earnings Per Share $0.15 $0.14
COMMON SHARES
Basic Shares Outstanding 114.8M shares 114.9M shares
Diluted Shares Outstanding 123.9M shares 127.7M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $186.9M $125.4M
YoY Change 49.04% 137.5%
Cash & Equivalents $49.65M $33.12M
Short-Term Investments $137.3M $92.20M
Other Short-Term Assets $5.700M $3.300M
YoY Change 72.73% 83.33%
Inventory $5.000M $4.900M
Prepaid Expenses
Receivables $19.22M $17.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $216.9M $150.8M
YoY Change 43.81% 126.09%
LONG-TERM ASSETS
Property, Plant & Equipment $925.0K $600.0K
YoY Change 54.17% 100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $28.80M $15.00M
YoY Change 92.0% 233.33%
Other Assets $75.00K $76.60M
YoY Change -99.9% 1864.1%
Total Long-Term Assets $103.3M $92.20M
YoY Change 12.09% 967.25%
TOTAL ASSETS
Total Short-Term Assets $216.9M $150.8M
Total Long-Term Assets $103.3M $92.20M
Total Assets $320.2M $243.0M
YoY Change 31.77% 222.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.330M $7.900M
YoY Change 18.1% 85.75%
Accrued Expenses $18.83M $19.20M
YoY Change -1.93% 93.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $34.22M $27.70M
YoY Change 23.53% 7.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K
YoY Change
Total Long-Term Liabilities $200.0K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $34.22M $27.70M
Total Long-Term Liabilities $200.0K $0.00
Total Liabilities $34.46M $27.70M
YoY Change 24.39% 7.36%
SHAREHOLDERS EQUITY
Retained Earnings -$99.46M
YoY Change
Common Stock $427.4M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $285.8M $215.2M
YoY Change
Total Liabilities & Shareholders Equity $320.2M $243.0M
YoY Change 31.77% 222.54%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $18.27M $17.46M
YoY Change 4.67% 297.88%
Depreciation, Depletion And Amortization $96.00K $48.00K
YoY Change 100.0% 269.23%
Cash From Operating Activities $23.68M $34.43M
YoY Change -31.22% 258.65%
INVESTING ACTIVITIES
Capital Expenditures $257.0K $77.00K
YoY Change 233.77% -30.0%
Acquisitions
YoY Change
Other Investing Activities -$100.0K -$34.20M
YoY Change -99.71% 77.2%
Cash From Investing Activities -$367.0K -$34.29M
YoY Change -98.93% 76.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $13.56M $0.00
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -$15.29M $1.922M
YoY Change -895.47% -151.95%
NET CHANGE
Cash From Operating Activities $23.68M $34.43M
Cash From Investing Activities -$367.0K -$34.29M
Cash From Financing Activities -$15.29M $1.922M
Net Change In Cash $8.025M $2.059M
YoY Change 289.75% -115.25%
FREE CASH FLOW
Cash From Operating Activities $23.68M $34.43M
Capital Expenditures $257.0K $77.00K
Free Cash Flow $23.42M $34.35M
YoY Change -31.81% 261.99%

Facts In Submission

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PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4169000 USD
CY2018Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
50866000 USD
CY2019Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
70935000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
77000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
257000 USD
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7740000 USD
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5741000 USD
CY2018Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
1922000 USD
CY2019Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
2435000 USD
CY2018Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
16650000 USD
CY2019Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
70825000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
17459000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
18274000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
655000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
925000 USD
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17050000 USD
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20244000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-117736000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-99462000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
57659000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
64829000 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1878000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18440000 USD
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
24389000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4954000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
6696000 USD
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
23100000 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
24400000 shares
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
4954000 USD
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
6724000 USD
CY2018Q1 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
600000 USD
CY2019Q1 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
900000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1922000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3366000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
190968000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
215226000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
275882000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
285755000 USD
CY2018Q4 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
23657000 USD
CY2019Q1 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
42312000 USD
CY2019Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
13555000 USD
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
127733000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
123895000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114882000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114844000 shares

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cort-20190331.xml Edgar Link completed
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cort-20190331_cal.xml Edgar Link unprocessable
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