2022 Q1 Form 10-Q Financial Statement

#000187889722000019 Filed on May 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $308.9M $272.8M
YoY Change 13.24% 64.72%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $52.14M $38.66M
YoY Change 34.85% -77.84%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.079M $2.123M
YoY Change -2.07% -3.5%
% of Gross Profit
Operating Expenses $52.14M $38.66M
YoY Change 34.85% -78.12%
Operating Profit $7.879M $14.23M
YoY Change -44.62%
Interest Expense $1.323M -$55.00K
YoY Change -2505.45% -127.5%
% of Operating Profit 16.79% -0.39%
Other Income/Expense, Net $0.00 $73.00K
YoY Change -100.0% -96.52%
Pretax Income $9.202M $14.25M
YoY Change -35.41% -121.23%
Income Tax $2.917M $281.0K
% Of Pretax Income 31.7% 1.97%
Net Earnings $6.510M $13.97M
YoY Change -53.38% -120.81%
Net Earnings / Revenue 2.11% 5.12%
Basic Earnings Per Share $0.08 $0.18
Diluted Earnings Per Share $0.08 $0.18
COMMON SHARES
Basic Shares Outstanding 77.67M shares 77.72M shares
Diluted Shares Outstanding 77.72M shares 77.72M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $203.7M
YoY Change
Cash & Equivalents $203.7M $120.1M
Short-Term Investments
Other Short-Term Assets $22.73M
YoY Change
Inventory
Prepaid Expenses
Receivables $27.40M
Other Receivables $14.60M
Total Short-Term Assets $276.3M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $38.39M
YoY Change
Goodwill $32.57M
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.508M
YoY Change
Other Assets $5.510M
YoY Change
Total Long-Term Assets $312.0M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $276.3M
Total Long-Term Assets $312.0M
Total Assets $588.2M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.301M
YoY Change
Accrued Expenses $30.58M
YoY Change
Deferred Revenue $16.77M
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $9.405M
YoY Change
Total Short-Term Liabilities $124.3M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $169.0K
YoY Change
Other Long-Term Liabilities $188.0K
YoY Change
Total Long-Term Liabilities $357.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $124.3M
Total Long-Term Liabilities $357.0K
Total Liabilities $301.1M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings $3.070M
YoY Change
Common Stock $812.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $285.0M
YoY Change
Total Liabilities & Shareholders Equity $588.2M
YoY Change

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $6.510M $13.97M
YoY Change -53.38% -120.81%
Depreciation, Depletion And Amortization $2.079M $2.123M
YoY Change -2.07% -3.5%
Cash From Operating Activities -$6.780M $13.99M
YoY Change -148.45%
INVESTING ACTIVITIES
Capital Expenditures $849.0K $597.0K
YoY Change 42.21%
Acquisitions
YoY Change
Other Investing Activities -$966.0K
YoY Change
Cash From Investing Activities -$1.815M -$597.0K
YoY Change 204.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $3.129M $0.00
YoY Change
Cash From Financing Activities -$6.834M -$21.00K
YoY Change 32442.86%
NET CHANGE
Cash From Operating Activities -$6.780M $13.99M
Cash From Investing Activities -$1.815M -$597.0K
Cash From Financing Activities -$6.834M -$21.00K
Net Change In Cash -$15.43M $13.38M
YoY Change -215.36%
FREE CASH FLOW
Cash From Operating Activities -$6.780M $13.99M
Capital Expenditures $849.0K $597.0K
Free Cash Flow -$7.629M $13.40M
YoY Change -156.95%

Facts In Submission

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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
120077000 USD
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;text-decoration:underline">Estimates and Assumptions</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">:</span>The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Significant estimates subject to material changes in the near term include impairment charges and valuation of intangible assets. Actual results could differ from those estimates.
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
77720626 shares
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
6510000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
13965000 USD
CY2022Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
275000 USD
CY2022Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
275000 USD
CY2021Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
0 USD
CY2021Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
0 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
6235000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
6235000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
13965000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13965000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77666210 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77720626 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
54416 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77720626 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77720626 shares
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
203669000 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
211623000 USD
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
7861000 USD
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
15336000 USD
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
1907000 USD
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
1907000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
213437000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
228866000 USD
CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
308900000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
272776000 USD
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
8069000 USD
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
932000 USD
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
8169000 USD
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
8135000 USD
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
257000 USD
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
200000 USD
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
985000 USD
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
956000 USD
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
121000 USD
CY2021Q1 us-gaap Sublease Income
SubleaseIncome
88000 USD
CY2022Q1 us-gaap Lease Cost
LeaseCost
9290000 USD
CY2021Q1 us-gaap Lease Cost
LeaseCost
9203000 USD
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
9196000 USD
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
9473000 USD
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6984000 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
717000 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y5M1D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y7M24D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0889
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0912
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
27079000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
18898000 USD
CY2022Q1 us-gaap Trading Securities Debt
TradingSecuritiesDebt
3077000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
33222000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
27931000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
23399000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
21141000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
61901000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
213571000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
60293000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
153278000 USD
CY2022Q1 doug Lessee Operating Lease Lease Notyet Commenced Amount
LesseeOperatingLeaseLeaseNotyetCommencedAmount
0 USD
CY2021Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
2222000 USD
CY2022Q1 us-gaap Alternative Investment
AlternativeInvestment
2332000 USD
CY2021Q4 us-gaap Alternative Investment
AlternativeInvestment
1534000 USD
CY2022Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
4363000 USD
CY2021Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
4338000 USD
CY2022Q1 us-gaap Investments
Investments
9772000 USD
CY2021Q4 us-gaap Investments
Investments
8094000 USD
CY2022Q1 us-gaap Debt Securities Current
DebtSecuritiesCurrent
2376000 USD
CY2021Q4 us-gaap Debt Securities Current
DebtSecuritiesCurrent
0 USD
CY2022Q1 us-gaap Other Long Term Investments
OtherLongTermInvestments
7396000 USD
CY2021Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
8094000 USD
CY2022Q1 us-gaap Debt Securities Trading Gain Loss
DebtSecuritiesTradingGainLoss
154000 USD
CY2021Q1 us-gaap Debt Securities Trading Gain Loss
DebtSecuritiesTradingGainLoss
0 USD
CY2022Q1 doug Alternative Investments Gain Loss
AlternativeInvestmentsGainLoss
598000 USD
CY2021Q1 doug Alternative Investments Gain Loss
AlternativeInvestmentsGainLoss
34000 USD
CY2022Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
752000 USD
CY2021Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
34000 USD
CY2022Q1 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
598000 USD
CY2021Q1 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
34000 USD
CY2022Q1 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Committments
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments
1460000 USD
CY2022Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
4363000 USD
CY2022Q1 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
2508000 USD
CY2022Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
9574000 USD
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
12703000 USD
CY2022Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
9405000 USD
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
12527000 USD
CY2022Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
169000 USD
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
176000 USD
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
9202000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
14246000 USD
CY2022Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
2917000 USD
CY2021Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
4097000 USD
CY2022Q1 doug Effective Income Tax Rate Reconciliation Tax Expense Benefit Pass Through Subsidiary Amount
EffectiveIncomeTaxRateReconciliationTaxExpenseBenefitPassThroughSubsidiaryAmount
0 USD
CY2021Q1 doug Effective Income Tax Rate Reconciliation Tax Expense Benefit Pass Through Subsidiary Amount
EffectiveIncomeTaxRateReconciliationTaxExpenseBenefitPassThroughSubsidiaryAmount
3816000 USD
CY2022Q1 doug Adjusted Earnings Before Interest Taxes Depreciation And Amortization Attributable To Parent
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortizationAttributableToParent
12727000 USD
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2079000 USD
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
849000 USD
CY2021Q1 us-gaap Revenues
Revenues
272776000 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
14228000 USD
CY2021Q1 doug Adjusted Earnings Before Interest Taxes Depreciation And Amortization Attributable To Parent
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortizationAttributableToParent
16351000 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2917000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
281000 USD
CY2022Q1 us-gaap Revenues
Revenues
308900000 USD
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
7879000 USD
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2123000 USD
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
597000 USD

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