2024 Q4 Form 10-Q Financial Statement

#000095017024118595 Filed on October 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $440.0M $377.5M
YoY Change 16.56% 19.61%
Cost Of Revenue $238.7M $217.0M
YoY Change 10.0% 10.38%
Gross Profit $201.3M $160.5M
YoY Change 25.42% 34.87%
Gross Profit Margin 45.75% 42.52%
Selling, General & Admin $180.5M $134.0M
YoY Change 34.7% 9.21%
% of Gross Profit 89.67% 83.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $52.10M $38.70M
YoY Change 34.63% 76.71%
% of Gross Profit 25.88% 24.11%
Operating Expenses $180.5M $134.0M
YoY Change 34.7% 9.21%
Operating Profit $20.80M $26.50M
YoY Change -21.51% -816.22%
Interest Expense $8.800M $8.900M
YoY Change -1.12% 20.27%
% of Operating Profit 42.31% 33.58%
Other Income/Expense, Net $6.300M -$5.100M
YoY Change -223.53% -13.56%
Pretax Income $18.30M $12.50M
YoY Change 46.4% -173.53%
Income Tax $16.30M $16.30M
% Of Pretax Income 89.07% 130.4%
Net Earnings $2.000M -$3.800M
YoY Change -152.63% -81.9%
Net Earnings / Revenue 0.45% -1.01%
Basic Earnings Per Share $0.01 -$0.02
Diluted Earnings Per Share $0.01 -$0.02
COMMON SHARES
Basic Shares Outstanding 157.7M 158.1M 155.6M
Diluted Shares Outstanding 159.7M 155.7M

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $494.1M $510.0M
YoY Change -3.12% 24.88%
Cash & Equivalents $494.1M $510.3M
Short-Term Investments
Other Short-Term Assets $4.154B $5.169B
YoY Change -19.63% 16.33%
Inventory
Prepaid Expenses
Receivables $210.9M $235.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.904B $5.915B
YoY Change -17.09% 18.12%
LONG-TERM ASSETS
Property, Plant & Equipment $228.3M $211.1M
YoY Change 8.15% 45.89%
Goodwill $2.395B $2.271B
YoY Change 5.45% 0.39%
Intangibles $228.3M $244.9M
YoY Change -6.78% -17.93%
Long-Term Investments
YoY Change
Other Assets $131.7M $282.4M
YoY Change -53.36% 5.85%
Total Long-Term Assets $3.213B $3.029B
YoY Change 6.09% 0.98%
TOTAL ASSETS
Total Short-Term Assets $4.904B $5.915B
Total Long-Term Assets $3.213B $3.029B
Total Assets $8.117B $8.943B
YoY Change -9.24% 11.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $73.10M $66.50M
YoY Change 9.92% 17.28%
Accrued Expenses $150.2M $124.0M
YoY Change 21.13% 11.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.300M $8.000M
YoY Change -8.75% -1.23%
Total Short-Term Liabilities $4.278B $5.412B
YoY Change -20.95% 15.74%
LONG-TERM LIABILITIES
Long-Term Debt $1.210B $1.211B
YoY Change -0.09% -0.26%
Other Long-Term Liabilities $34.20M $21.40M
YoY Change 59.81% -7.36%
Total Long-Term Liabilities $34.20M $21.40M
YoY Change 59.81% -7.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.278B $5.412B
Total Long-Term Liabilities $34.20M $21.40M
Total Liabilities $5.561B $6.676B
YoY Change -16.71% 12.11%
SHAREHOLDERS EQUITY
Retained Earnings -$340.5M -$363.4M
YoY Change -6.3% -1.09%
Common Stock $1.600M $1.600M
YoY Change 0.0% 6.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.556B $2.267B
YoY Change
Total Liabilities & Shareholders Equity $8.117B $8.943B
YoY Change -9.24% 11.7%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income $2.000M -$3.800M
YoY Change -152.63% -81.9%
Depreciation, Depletion And Amortization $52.10M $38.70M
YoY Change 34.63% 76.71%
Cash From Operating Activities $91.80M $36.60M
YoY Change 150.82% -29.75%
INVESTING ACTIVITIES
Capital Expenditures $28.40M $31.80M
YoY Change -10.69% -240.09%
Acquisitions
YoY Change
Other Investing Activities -$46.20M $2.000M
YoY Change -2410.0% -110.0%
Cash From Investing Activities -$74.60M -$29.80M
YoY Change 150.34% -30.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.075B 281.2M
YoY Change -482.4% -129.12%
NET CHANGE
Cash From Operating Activities 91.80M 36.60M
Cash From Investing Activities -74.60M -29.80M
Cash From Financing Activities -1.075B 281.2M
Net Change In Cash -1.058B 288.0M
YoY Change -467.4% -130.11%
FREE CASH FLOW
Cash From Operating Activities $91.80M $36.60M
Capital Expenditures $28.40M $31.80M
Free Cash Flow $63.40M $4.800M
YoY Change 1220.83% -93.58%

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us-gaap Current Income Tax Expense Benefit
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us-gaap Income Tax Reconciliation Tax Credits
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CY2024Q3 us-gaap Unrecognized Tax Benefits
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us-gaap Income Tax Examination Description
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CY2023Q4 us-gaap Contract With Customer Liability
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CY2024Q3 us-gaap Amortization Of Deferred Sales Commissions
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CY2023Q3 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
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us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
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us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
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CY2024Q3 us-gaap Revenue Remaining Performance Obligation
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CY2024Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P3Y
us-gaap Revenue Practical Expedient Remaining Performance Obligation Description
RevenuePracticalExpedientRemainingPerformanceObligationDescription
Performance obligations that are billed and recognized as they are delivered, primarily professional services contracts that are on a time and materials basis, are excluded from the transaction price for remaining performance obligations disclosed above
CY2024Q3 us-gaap Deferred Tax Assets Valuation Allowance
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CY2024Q3 day Income Tax Expense Benefit Attributable To Global Intangible Tax Income
IncomeTaxExpenseBenefitAttributableToGlobalIntangibleTaxIncome
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CY2024Q3 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
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CY2024Q3 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
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CY2024Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2024Q3 day Adjustment Of Income Tax Expense Benefit Valuation Allowance Released
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CY2024Q3 us-gaap Income Tax Reconciliation Tax Credits
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IncomeTaxExpenseBenefit
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IncomeTaxExpenseBenefitAttributableToGlobalIntangibleTaxIncome
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us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CurrentForeignTaxExpenseBenefit
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day Adjustment Of Income Tax Expense Benefit Valuation Allowance Released
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us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
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CY2024Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
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CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
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CY2024Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
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us-gaap Income Tax Examination Description
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day Contract With Customer Liability Foreign Currency Translation
ContractWithCustomerLiabilityForeignCurrencyTranslation
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ContractWithCustomerLiabilityForeignCurrencyTranslation
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CY2024Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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AmortizationOfDeferredSalesCommissions
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us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
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us-gaap Revenue Practical Expedient Remaining Performance Obligation Description
RevenuePracticalExpedientRemainingPerformanceObligationDescription
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CurrentForeignTaxExpenseBenefit
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CY2024Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2024Q3 day Adjustment Of Income Tax Expense Benefit Valuation Allowance Released
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9600000
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IncomeTaxReconciliationTaxCredits
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day Income Tax Expense Benefit Attributable To Global Intangible Tax Income
IncomeTaxExpenseBenefitAttributableToGlobalIntangibleTaxIncome
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CurrentIncomeTaxExpenseBenefit
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CurrentForeignTaxExpenseBenefit
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us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
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CY2024Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1600000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1000000
CY2024Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1600000
us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
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CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
2000000
us-gaap Net Income Loss
NetIncomeLoss
7300000
us-gaap Net Income Loss
NetIncomeLoss
9200000
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
158100000
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
2000000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-3800000
us-gaap Net Income Loss
NetIncomeLoss
7300000
us-gaap Net Income Loss
NetIncomeLoss
9200000
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
158100000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
155700000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
157600000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
155000000
CY2024Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1600000
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2300000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3200000
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
159700000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
155700000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
159900000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
158200000
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
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EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Debt Instrument Convertible Number Of Equity Instruments
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CY2024Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
7300000
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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155000000
CY2024Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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1600000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2300000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3200000
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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159700000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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155700000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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0.01
us-gaap Earnings Per Share Basic
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CY2024Q3 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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0.05
us-gaap Earnings Per Share Diluted
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0.06
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4300000
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155700000
us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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0
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
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CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
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CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
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CY2024Q3 us-gaap Stock Repurchased And Retired During Period Shares
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CY2024Q3 us-gaap Stock Repurchased And Retired During Period Value
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CY2024Q3 ecd Rule10b51 Arr Adopted Flag
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CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
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CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
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