2020 Q2 Form 10-Q Financial Statement

#000157642720000083 Filed on July 31, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $437.6M $528.1M
YoY Change -17.14% -1.68%
Cost Of Revenue $257.7M $304.2M
YoY Change -15.29% -0.89%
Gross Profit $146.0M $194.9M
YoY Change -25.07% -2.7%
Gross Profit Margin 33.36% 36.89%
Selling, General & Admin $105.0M $131.3M
YoY Change -20.04% 2.26%
% of Gross Profit 71.89% 67.37%
Research & Development $31.25M $44.02M
YoY Change -29.01% -7.42%
% of Gross Profit 21.4% 22.59%
Depreciation & Amortization $27.91M $18.28M
YoY Change 52.65% -26.87%
% of Gross Profit 19.11% 9.38%
Operating Expenses $136.2M $175.3M
YoY Change -22.29% -0.36%
Operating Profit $9.789M $19.57M
YoY Change -49.99% -19.62%
Interest Expense $811.0K $481.0K
YoY Change 68.61% -1.43%
% of Operating Profit 8.28% 2.46%
Other Income/Expense, Net -$1.003M -$1.354M
YoY Change -25.92% 34.59%
Pretax Income $8.786M $18.22M
YoY Change -51.78% -21.95%
Income Tax $2.636M $5.683M
% Of Pretax Income 30.0% 31.19%
Net Earnings $5.716M $10.82M
YoY Change -47.19% -21.15%
Net Earnings / Revenue 1.31% 2.05%
Basic Earnings Per Share $0.09 $0.17
Diluted Earnings Per Share $0.09 $0.16
COMMON SHARES
Basic Shares Outstanding 61.42M shares 64.58M shares
Diluted Shares Outstanding 61.79M shares 65.62M shares

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $578.2M $422.1M
YoY Change 36.99% -12.13%
Cash & Equivalents $578.2M $422.1M
Short-Term Investments $148.6M
Other Short-Term Assets $17.31M $18.75M
YoY Change -7.71% -28.2%
Inventory
Prepaid Expenses $8.437M $9.405M
Receivables $330.0M $374.9M
Other Receivables $76.75M $77.75M
Total Short-Term Assets $999.4M $890.0M
YoY Change 12.29% -4.64%
LONG-TERM ASSETS
Property, Plant & Equipment $195.7M $192.7M
YoY Change 1.6% 31.14%
Goodwill $316.6M $317.1M
YoY Change -0.16% 34.39%
Intangibles $78.19M $103.1M
YoY Change -24.18% 18.48%
Long-Term Investments $42.21M $21.61M
YoY Change 95.28% 7.0%
Other Assets $34.49M $41.35M
YoY Change -16.59% 24.91%
Total Long-Term Assets $805.0M $859.5M
YoY Change -6.35% 64.27%
TOTAL ASSETS
Total Short-Term Assets $999.4M $890.0M
Total Long-Term Assets $805.0M $859.5M
Total Assets $1.804B $1.750B
YoY Change 3.13% 20.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $295.2M $339.0M
YoY Change -12.92% 3.35%
Accrued Expenses $113.4M $116.7M
YoY Change -2.82% 77.3%
Deferred Revenue $75.00K $360.0K
YoY Change -79.17% 17.26%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $159.4M $2.030M
YoY Change 7751.28% 139.1%
Total Short-Term Liabilities $643.0M $553.6M
YoY Change 16.16% 16.03%
LONG-TERM LIABILITIES
Long-Term Debt $44.00K $2.051M
YoY Change -97.85% 46.71%
Other Long-Term Liabilities $3.256M $4.327M
YoY Change -24.75% 5.43%
Total Long-Term Liabilities $126.4M $171.0M
YoY Change -26.11% 1072.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $643.0M $553.6M
Total Long-Term Liabilities $126.4M $171.0M
Total Liabilities $769.4M $724.6M
YoY Change 6.18% 47.38%
SHAREHOLDERS EQUITY
Retained Earnings $452.2M $401.2M
YoY Change 12.72% 20.22%
Common Stock $685.4M $654.7M
YoY Change 4.69% 3.44%
Preferred Stock
YoY Change
Treasury Stock (at cost) $90.71M $26.56M
YoY Change 241.49%
Treasury Stock Shares 5.589M shares 1.119M shares
Shareholders Equity $1.003B $996.1M
YoY Change
Total Liabilities & Shareholders Equity $1.804B $1.750B
YoY Change 3.13% 20.12%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $5.716M $10.82M
YoY Change -47.19% -21.15%
Depreciation, Depletion And Amortization $27.91M $18.28M
YoY Change 52.65% -26.87%
Cash From Operating Activities $33.38M $52.96M
YoY Change -36.98% 31.29%
INVESTING ACTIVITIES
Capital Expenditures -$28.99M -$32.79M
YoY Change -11.59% 84.22%
Acquisitions $0.00 -$637.0K
YoY Change -100.0%
Other Investing Activities -$10.78M $209.0K
YoY Change -5256.94% 497.14%
Cash From Investing Activities -$39.77M -$33.31M
YoY Change 19.4% 88.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $14.88M $98.00K
YoY Change 15083.67% -75.25%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $138.9M -$474.0K
YoY Change -29394.94% -476.19%
NET CHANGE
Cash From Operating Activities $33.38M $52.96M
Cash From Investing Activities -$39.77M -$33.31M
Cash From Financing Activities $138.9M -$474.0K
Net Change In Cash $141.7M $26.28M
YoY Change 439.06% -832.29%
FREE CASH FLOW
Cash From Operating Activities $33.38M $52.96M
Capital Expenditures -$28.99M -$32.79M
Free Cash Flow $62.37M $85.76M
YoY Change -27.27% 47.5%

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10939000 USD
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crto Allowance For Doubtful Accounts Receivable Reversal Of Provision
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us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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CY2019Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2020Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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0 USD
us-gaap Operating Lease Payments
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27931000 USD
us-gaap Operating Lease Payments
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26781000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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11520000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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0 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1086270000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
940990000 USD
CY2019Q4 crto Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Number
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsNumber
7902287 shares
crto Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Grantsin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsGrantsinPeriod
1966448 shares
crto Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Exercised
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsExercised
7700 shares
crto Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Vested
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsVested
856938 shares
crto Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Forfeitedin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsForfeitedinPeriod
658571 shares
crto Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Expirationsin Period
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsExpirationsinPeriod
3600 shares
CY2020Q2 crto Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Number
SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsNumber
8341926 shares
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11362000 USD
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6804000 USD
CY2019Q2 crto Sharebased Compensation Expense Employeeand Non Employee
SharebasedCompensationExpenseEmployeeandNonEmployee
11713000 USD
CY2020Q2 crto Sharebased Compensation Expense Employeeand Non Employee
SharebasedCompensationExpenseEmployeeandNonEmployee
7159000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
24884000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14935000 USD
crto Sharebased Compensation Expense Employeeand Non Employee
SharebasedCompensationExpenseEmployeeandNonEmployee
25595000 USD
crto Sharebased Compensation Expense Employeeand Non Employee
SharebasedCompensationExpenseEmployeeandNonEmployee
15662000 USD
CY2019Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
608000 USD
CY2020Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
61000 USD
CY2019Q2 us-gaap Interest Expense
InterestExpense
481000 USD
CY2020Q2 us-gaap Interest Expense
InterestExpense
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CY2019Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
443000 USD
CY2020Q2 us-gaap Interest Expense Debt
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638000 USD
CY2019Q2 us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
38000 USD
CY2020Q2 us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
173000 USD
CY2019Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1089000 USD
CY2020Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2019Q2 us-gaap Other Nonoperating Income Expense
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CY2020Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2019Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2020Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Investment Income Interest
InvestmentIncomeInterest
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us-gaap Investment Income Interest
InvestmentIncomeInterest
443000 USD
us-gaap Interest Expense
InterestExpense
1004000 USD
us-gaap Interest Expense
InterestExpense
1243000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
873000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
1018000 USD
us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
131000 USD
us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
225000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
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CY2020Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
14365000 USD
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
17293000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1336000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15701000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9676000 USD
crto Effective Income Tax Rate Reconciliation Estimated Tax Rate Percent
EffectiveIncomeTaxRateReconciliationEstimatedTaxRatePercent
0.30
crto Effective Income Tax Rate Reconciliation Estimated Tax Rate Percent
EffectiveIncomeTaxRateReconciliationEstimatedTaxRatePercent
0.30
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.32
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.30
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
10823000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
5716000 USD
us-gaap Net Income Loss
NetIncomeLoss
29943000 USD
us-gaap Net Income Loss
NetIncomeLoss
21175000 USD
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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64581476 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61415467 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64459867 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61553875 shares
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.46
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
10823000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
5716000 USD
us-gaap Net Income Loss
NetIncomeLoss
29943000 USD
us-gaap Net Income Loss
NetIncomeLoss
21175000 USD
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64581476 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61415467 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64459867 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61553875 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
737992 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
247062 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1027671 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
255685 shares
CY2019Q2 crto Incremental Common Shares Attributableto Dilutive Effectof Sharebased Payment Arrangements Options And Bspce
IncrementalCommonSharesAttributabletoDilutiveEffectofSharebasedPaymentArrangementsOptionsAndBSPCE
274298 shares
CY2020Q2 crto Incremental Common Shares Attributableto Dilutive Effectof Sharebased Payment Arrangements Options And Bspce
IncrementalCommonSharesAttributabletoDilutiveEffectofSharebasedPaymentArrangementsOptionsAndBSPCE
119516 shares
crto Incremental Common Shares Attributableto Dilutive Effectof Sharebased Payment Arrangements Options And Bspce
IncrementalCommonSharesAttributabletoDilutiveEffectofSharebasedPaymentArrangementsOptionsAndBSPCE
305473 shares
crto Incremental Common Shares Attributableto Dilutive Effectof Sharebased Payment Arrangements Options And Bspce
IncrementalCommonSharesAttributabletoDilutiveEffectofSharebasedPaymentArrangementsOptionsAndBSPCE
136651 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
30739 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
8090 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
40631 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
12288 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65624505 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61790135 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65833642 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61958499 shares
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.16
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.45
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1308667 shares
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4324027 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
928159 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3282625 shares
CY2019Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
6385000 USD
us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
91000 USD
crto Loss Contingency Accrual Provision Used
LossContingencyAccrualProvisionUsed
446000 USD
crto Loss Contingency Accrual Provision Released Not Used
LossContingencyAccrualProvisionReleasedNotUsed
1770000 USD
crto Loss Contingency Accrual Foreign Currency Translation Gain Loss
LossContingencyAccrualForeignCurrencyTranslationGainLoss
-134000 USD
CY2020Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
4126000 USD
CY2020Q2 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
4126000 USD
CY2020Q2 crto Numberof Geographical Marketsinwhich Entity Operates
NumberofGeographicalMarketsinwhichEntityOperates
3 market
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
528147000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
437614000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1086270000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
940990000 USD
CY2019Q4 us-gaap Noncurrent Assets
NoncurrentAssets
281047000 USD
CY2020Q2 us-gaap Noncurrent Assets
NoncurrentAssets
273921000 USD

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