2024 Q4 Form 10-Q Financial Statement

#000110852424000034 Filed on December 04, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2023 Q4
Revenue $9.444B $8.720B
YoY Change 8.3% 11.27%
Cost Of Revenue $2.105B $2.155B
YoY Change -2.32% 3.21%
Gross Profit $7.339B $6.565B
YoY Change 11.79% 14.19%
Gross Profit Margin 77.71% 75.29%
Selling, General & Admin $4.034B $3.805B
YoY Change 6.02% -5.09%
% of Gross Profit 54.97% 57.96%
Research & Development $1.356B $1.204B
YoY Change 12.62% -5.94%
% of Gross Profit 18.48% 18.34%
Depreciation & Amortization $862.0M
YoY Change -8.4%
% of Gross Profit 13.13%
Operating Expenses $5.446B $5.064B
YoY Change 7.54% -4.25%
Operating Profit $1.893B $1.501B
YoY Change 26.12% 226.3%
Interest Expense -$44.00M
YoY Change -375.0%
% of Operating Profit -2.93%
Other Income/Expense, Net $70.00M $58.00M
YoY Change 20.69% -13.43%
Pretax Income $1.746B $1.487B
YoY Change 17.42% 213.05%
Income Tax $219.0M $263.0M
% Of Pretax Income 12.54% 17.69%
Net Earnings $1.527B $1.224B
YoY Change 24.75% 482.86%
Net Earnings / Revenue 16.17% 14.04%
Basic Earnings Per Share $1.60 $1.26
Diluted Earnings Per Share $1.58 $1.25
COMMON SHARES
Basic Shares Outstanding 956.0M shares 972.0M shares
Diluted Shares Outstanding 965.0M shares 981.0M shares

Balance Sheet

Concept 2024 Q4 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.76B $11.86B
YoY Change 7.54% -0.46%
Cash & Equivalents $7.997B $6.453B
Short-Term Investments $4.760B $5.410B
Other Short-Term Assets $1.732B
YoY Change 18.06%
Inventory
Prepaid Expenses
Receivables $4.741B $4.850B
Other Receivables $0.00
Total Short-Term Assets $21.43B $20.20B
YoY Change 6.05% 5.17%
LONG-TERM ASSETS
Property, Plant & Equipment $6.325B
YoY Change -1.45%
Goodwill $49.09B $48.61B
YoY Change 0.99% 0.12%
Intangibles $4.119B $5.737B
YoY Change -28.2% -24.49%
Long-Term Investments $4.774B
YoY Change -6.83%
Other Assets $4.209B $3.176B
YoY Change 32.53% 18.55%
Total Long-Term Assets $69.97B $70.82B
YoY Change -1.2% -2.55%
TOTAL ASSETS
Total Short-Term Assets $21.43B $20.20B
Total Long-Term Assets $69.97B $70.82B
Total Assets $91.40B $91.02B
YoY Change 0.41% -0.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.308B
YoY Change 0.44%
Accrued Expenses $523.0M
YoY Change -7.76%
Deferred Revenue $13.47B $12.56B
YoY Change 7.23% 12.25%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $0.00 $999.0M
YoY Change -100.0% -15.48%
Total Short-Term Liabilities $19.38B $19.39B
YoY Change -0.1% 6.4%
LONG-TERM LIABILITIES
Long-Term Debt $8.432B $8.426B
YoY Change 0.07% -10.53%
Other Long-Term Liabilities $2.643B $2.348B
YoY Change 12.56% 14.15%
Total Long-Term Liabilities $11.08B $10.77B
YoY Change 2.79% -6.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.38B $19.39B
Total Long-Term Liabilities $11.08B $10.77B
Total Liabilities $32.87B $32.93B
YoY Change -0.19% 1.23%
SHAREHOLDERS EQUITY
Retained Earnings $15.05B $10.28B
YoY Change 46.46% 33.74%
Common Stock $63.12B $58.15B
YoY Change 8.54% 7.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $58.53B $58.09B
YoY Change
Total Liabilities & Shareholders Equity $91.40B $91.02B
YoY Change 0.41% -0.94%

Cashflow Statement

Concept 2024 Q4 2023 Q4
OPERATING ACTIVITIES
Net Income $1.527B $1.224B
YoY Change 24.75% 482.86%
Depreciation, Depletion And Amortization $862.0M
YoY Change -8.4%
Cash From Operating Activities $1.983B $1.532B
YoY Change 29.44% 389.46%
INVESTING ACTIVITIES
Capital Expenditures $204.0M $166.0M
YoY Change 22.89% -16.16%
Acquisitions $179.0M $82.00M
YoY Change 118.29%
Other Investing Activities $112.0M
YoY Change -84.68%
Cash From Investing Activities -$217.0M -$54.00M
YoY Change 301.85% -110.13%
FINANCING ACTIVITIES
Cash Dividend Paid $382.0M $0.00
YoY Change
Common Stock Issuance & Retirement, Net $1.285B $1.925B
YoY Change -33.25% 14.79%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.446B -$1.765B
YoY Change -18.07% 5.18%
NET CHANGE
Cash From Operating Activities $1.983B $1.532B
Cash From Investing Activities -$217.0M -$54.00M
Cash From Financing Activities -$1.446B -$1.765B
Net Change In Cash $315.0M -$319.0M
YoY Change -198.75% -62.69%
FREE CASH FLOW
Cash From Operating Activities $1.983B $1.532B
Capital Expenditures $204.0M $166.0M
Free Cash Flow $1.779B $1.366B
YoY Change 30.23% 1087.83%

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CY2024Q3 us-gaap Net Income Loss
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dei Document Period End Date
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2024-10-31
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DE
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CY2024Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2023Q4 us-gaap Stockholders Equity
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CY2024Q4 us-gaap Net Income Loss
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CY2023Q4 us-gaap Net Income Loss
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us-gaap Increase Decrease In Accounts Receivable
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CY2024Q4 crm Increase Decrease In Capitalized Contract Costs
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CY2023Q4 crm Increase Decrease In Capitalized Contract Costs
IncreaseDecreaseInCapitalizedContractCosts
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crm Increase Decrease In Capitalized Contract Costs
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crm Increase Decrease In Capitalized Contract Costs
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CY2024Q4 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2023Q4 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2024Q4 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2023Q4 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2024Q4 us-gaap Increase Decrease In Operating Lease Liability
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CY2023Q4 us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Operating Lease Liability
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CY2024Q4 us-gaap Increase Decrease In Contract With Customer Liability
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CY2023Q4 us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Contract With Customer Liability
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CY2024Q4 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q4 us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Longterm Investments
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us-gaap Payments To Acquire Longterm Investments
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us-gaap Proceeds From Sale Of Longterm Investments
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us-gaap Proceeds From Sale Of Longterm Investments
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us-gaap Payments To Acquire Available For Sale Securities Debt
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us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2023Q4 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2023Q4 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2024Q4 us-gaap Payments To Acquire Property Plant And Equipment
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PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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CY2023Q4 us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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CY2024Q4 us-gaap Proceeds From Stock Plans
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us-gaap Proceeds From Stock Plans
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FinanceLeasePrincipalPayments
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us-gaap Finance Lease Principal Payments
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us-gaap Finance Lease Principal Payments
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CY2024Q4 us-gaap Repayments Of Long Term Lines Of Credit
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us-gaap Repayments Of Long Term Lines Of Credit
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us-gaap Repayments Of Long Term Lines Of Credit
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us-gaap Payments Of Dividends
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us-gaap Payments Of Dividends
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CY2023Q4 us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q4 us-gaap Interest Paid Net
InterestPaidNet
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CY2023Q4 us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
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CY2024Q4 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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CY2023Q4 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Fiscal Period
FiscalPeriod
<div style="margin-top:9pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Fiscal Year</span></div><div style="margin-top:5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s fiscal year ends on January 31. References to fiscal 2025, for example, refer to the fiscal year ending January 31, 2025.</span></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:9pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:5pt;text-indent:24.75pt"><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 conformity with U.S. GAAP requires management to make estimates and assumptions in the Company’s condensed consolidated financial statements and notes thereto.</span></div><div style="margin-top:5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Significant estimates and assumptions made by management include the determination of:</span></div><div style="margin-top:3.25pt;padding-left:40.5pt;text-indent:-13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the standalone selling price (“SSP”) of performance obligations for revenue contracts with multiple performance obligations;</span></div><div style="margin-top:3.25pt;padding-left:40.5pt;text-indent:-13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the valuation of privately-held strategic investments;</span></div><div style="margin-top:3.25pt;padding-left:40.5pt;text-indent:-13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the fair value of assets acquired and liabilities assumed for business combinations;</span></div><div style="margin-top:3.25pt;padding-left:40.5pt;text-indent:-13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the recognition, measurement and valuation of current and deferred income taxes and uncertain tax positions;</span></div><div style="margin-top:3.25pt;padding-left:40.5pt;text-indent:-13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the useful lives of intangible assets; and</span></div><div style="margin-top:3.25pt;padding-left:40.5pt;text-indent:-13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the fair value of certain stock awards issued.</span></div>Actual results could differ materially from these estimates. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, which forms the basis for making judgments about the carrying values of assets and liabilities as well as income and expenses to be recognized.
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Credit Risk, Significant Customers and Investments</span></div>The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities and accounts receivable. The Company monitors and manages the overall exposure of its cash balances to individual financial institutions on an ongoing basis. The Company’s marketable securities portfolio consists primarily of investment-grade securities and the Company’s policies limit the amount of credit exposure to any one issuer. The Company does not require collateral for accounts receivable. The Company maintains an allowance for its doubtful accounts receivable for estimated credit losses. This allowance is based upon historical loss patterns, the number of days that billings are past due, an evaluation of the potential risk of loss associated with delinquent accounts and current market conditions and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss patterns. The Company records the allowance against bad debt expense through the condensed consolidated statements of operations, included in general and administrative expense, up to the amount of revenues recognized to date. Any incremental allowance is recorded as an offset to unearned revenue on the condensed consolidated balance sheets. Receivables are written off and charged against the recorded allowance when the Company has exhausted collection efforts without success.
CY2024Q4 us-gaap Capitalized Contract Cost Amortization Period
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FilingSummary.xml Edgar Link unprocessable