2021 Q4 Form 10-Q Financial Statement

#000162828021021485 Filed on November 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q4
Revenue $98.82M $96.13M $85.74M
YoY Change 15.26% 11.36% -2.46%
Cost Of Revenue $1.354M $1.275M $1.250M
YoY Change 8.32% 4.85% -13.19%
Gross Profit $97.47M $94.86M $84.48M
YoY Change 15.37% 11.45% -2.29%
Gross Profit Margin 98.63% 98.67% 98.54%
Selling, General & Admin $32.28M $30.53M $25.70M
YoY Change 25.62% 15.12% -5.27%
% of Gross Profit 33.12% 32.19% 30.42%
Research & Development $28.52M $28.09M $28.28M
YoY Change 0.85% -17.06% 16.33%
% of Gross Profit 29.26% 29.61% 33.47%
Depreciation & Amortization $289.0K $269.0K $100.0K
YoY Change 189.0% -50.0%
% of Gross Profit 0.3% 0.28% 0.12%
Operating Expenses $60.80M $58.62M $53.98M
YoY Change 12.64% -2.93% 4.94%
Operating Profit $36.66M $36.23M $30.50M
YoY Change 20.21% 46.58% -12.9%
Interest Expense $72.00K $72.00K $300.0K
YoY Change -76.0% -88.39% -79.17%
% of Operating Profit 0.2% 0.2% 0.98%
Other Income/Expense, Net $72.00K
YoY Change -88.42%
Pretax Income $36.74M $36.30M $30.81M
YoY Change 19.23% 43.26% -15.5%
Income Tax $4.683M $5.800M $4.810M
% Of Pretax Income 12.75% 15.98% 15.61%
Net Earnings $32.05M $30.47M $25.99M
YoY Change 23.31% 40.91% -11.53%
Net Earnings / Revenue 32.44% 31.7% 30.32%
Basic Earnings Per Share $0.26 $0.22
Diluted Earnings Per Share $262.0K $0.24 $0.20
COMMON SHARES
Basic Shares Outstanding 115.5M shares 115.8M shares 116.2M shares
Diluted Shares Outstanding 125.1M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $223.5M $361.3M $440.7M
YoY Change -49.28% -15.73% 59.69%
Cash & Equivalents $77.62M $94.69M $76.19M
Short-Term Investments $145.9M $266.6M $364.5M
Other Short-Term Assets $10.32M $9.067M $6.700M
YoY Change 53.96% 14.77% 11.67%
Inventory $4.988M $4.994M $4.910M
Prepaid Expenses
Receivables $27.63M $26.51M $26.20M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $266.5M $401.9M $478.5M
YoY Change -44.31% -13.29% 55.68%
LONG-TERM ASSETS
Property, Plant & Equipment $1.002M $1.226M $1.675M
YoY Change -40.18% -6.48% 59.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $112.3M $133.8M $36.20M
YoY Change 210.16% 769.12% -8.12%
Other Assets $3.083M $4.106M $5.000M
YoY Change -38.34% -18.04% 45.01%
Total Long-Term Assets $157.3M $183.5M $93.23M
YoY Change 68.72% 159.8% -11.17%
TOTAL ASSETS
Total Short-Term Assets $266.5M $401.9M $478.5M
Total Long-Term Assets $157.3M $183.5M $93.23M
Total Assets $423.8M $585.4M $571.7M
YoY Change -25.88% 9.6% 38.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.908M $6.558M $10.55M
YoY Change -34.55% 0.74% 40.03%
Accrued Expenses $27.67M $24.31M $21.19M
YoY Change 30.58% 28.13% -8.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $47.54M $44.76M $47.49M
YoY Change 0.1% 3.97% 22.28%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $409.0K $413.0K $900.0K
YoY Change -54.56% -70.5% -60.87%
Total Long-Term Liabilities $409.0K $413.0K $900.0K
YoY Change -54.56% -70.5% -60.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.54M $44.76M $47.49M
Total Long-Term Liabilities $409.0K $413.0K $900.0K
Total Liabilities $47.95M $45.17M $48.39M
YoY Change -0.92% 1.63% 17.66%
SHAREHOLDERS EQUITY
Retained Earnings $195.0M $162.9M $82.46M
YoY Change 136.45% 188.54% -450.06%
Common Stock $591.5M $571.5M $516.3M
YoY Change 14.57% 15.08% 12.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 10.90M shares 5.300M shares
Shareholders Equity $375.8M $540.2M $523.3M
YoY Change
Total Liabilities & Shareholders Equity $423.8M $585.4M $571.7M
YoY Change -25.88% 9.6% 38.66%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q4
OPERATING ACTIVITIES
Net Income $32.05M $30.47M $25.99M
YoY Change 23.31% 40.91% -11.53%
Depreciation, Depletion And Amortization $289.0K $269.0K $100.0K
YoY Change 189.0% -50.0%
Cash From Operating Activities $49.43M $48.70M $35.10M
YoY Change 40.82% 60.21% -27.48%
INVESTING ACTIVITIES
Capital Expenditures -$65.00K -$159.0K -$400.0K
YoY Change -83.75% -77.29% 300.0%
Acquisitions
YoY Change
Other Investing Activities $140.5M -$25.64M $11.70M
YoY Change 1101.16% -59.68% -118.93%
Cash From Investing Activities $140.5M -$25.80M $11.20M
YoY Change 1154.21% -59.87% -118.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -207.0M -23.64M -700.0K
YoY Change 29467.0% -500.73% 600.0%
NET CHANGE
Cash From Operating Activities 49.43M 48.70M 35.10M
Cash From Investing Activities 140.5M -25.80M 11.20M
Cash From Financing Activities -207.0M -23.64M -700.0K
Net Change In Cash -17.07M -742.0K 45.60M
YoY Change -137.44% -97.35% -432.85%
FREE CASH FLOW
Cash From Operating Activities $49.43M $48.70M $35.10M
Capital Expenditures -$65.00K -$159.0K -$400.0K
Free Cash Flow $49.49M $48.86M $35.50M
YoY Change 39.41% 57.12% -26.8%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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InventoryRawMaterialsCurrentAndNoncurrent
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InventoryFinishedGoodsCurrentAndNoncurrent
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InventoryFinishedGoodsCurrentAndNoncurrent
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InventoryCurrentNoncurrent
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InventoryCurrentNoncurrent
21157000 USD
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InventoryNoncurrent
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InventoryNoncurrent
16247000 USD
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756000 USD
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612000 USD
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3900000 USD
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4800000 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Securities
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cort Marketable Securities Maximum Maturity Period
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us-gaap Loss Contingency Accrual Provision
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20300000 USD
us-gaap Treasury Stock Shares Acquired
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4300000 shares
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us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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StockIssuedDuringPeriodSharesStockOptionsExercised
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us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
3600000 shares
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SharesPaidForTaxWithholdingForShareBasedCompensation
200000 shares
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
1200000 shares
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2300000 USD
CY2021Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
10900000 shares
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TreasuryStockShares
5300000 shares
CY2021Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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47000 USD
CY2020Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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53000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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151000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
10999000 USD
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
8755000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
32272000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
25291000 USD
CY2021Q3 us-gaap Net Income Loss
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30471000 USD
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21625000 USD
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80459000 USD
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80017000 USD
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WeightedAverageNumberOfSharesOutstandingBasic
116297000 shares
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115107000 shares
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
9345000 shares
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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
8730000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
10876000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
8230000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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125136000 shares
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WeightedAverageNumberOfDilutedSharesOutstanding
124464000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
127173000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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123337000 shares
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EarningsPerShareBasic
0.26
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0.19
us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2021Q3 us-gaap Earnings Per Share Diluted
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0.24
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EarningsPerShareDiluted
0.17
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.63
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.65
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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25500000 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
26000000 shares
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5800000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7800000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3700000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
20800000 USD
CY2021Q3 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
600000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
1400000 USD
CY2021Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
7200000 USD
CY2021Q3 cort Unrecognized Tax Benefits That Would Be Offset By A Change In Valuation Allowance
UnrecognizedTaxBenefitsThatWouldBeOffsetByAChangeInValuationAllowance
1800000 USD

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