2024 Q2 Form 10-Q Financial Statement

#000187889724000018 Filed on May 10, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $285.8M $200.2M
YoY Change 3.57% -6.42%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $47.01M $48.31M
YoY Change -12.0% -79.4%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.929M $1.981M
YoY Change -3.21% -2.84%
% of Gross Profit
Operating Expenses $47.01M $48.31M
YoY Change -12.0% -79.58%
Operating Profit -$3.673M -$41.46M
YoY Change -55.73% 74.16%
Interest Expense $1.048M $1.376M
YoY Change -23.5% 138.06%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.607M -$40.49M
YoY Change -75.17% 74.3%
Income Tax $173.0K $1.195M
% Of Pretax Income
Net Earnings -$1.664M -$41.48M
YoY Change -68.12% 135.33%
Net Earnings / Revenue -0.58% -20.71%
Basic Earnings Per Share -$0.02 -$0.50
Diluted Earnings Per Share -$0.02 -$0.50
COMMON SHARES
Basic Shares Outstanding 91.42M shares 91.54M shares
Diluted Shares Outstanding 83.34M shares 83.33M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $92.86M $91.45M
YoY Change -28.8% -26.05%
Cash & Equivalents $92.86M $91.45M
Short-Term Investments
Other Short-Term Assets $20.03M $20.44M
YoY Change 6.25% -11.2%
Inventory
Prepaid Expenses
Receivables $27.50M $19.83M
Other Receivables $13.50M $17.00M
Total Short-Term Assets $161.5M $154.8M
YoY Change -19.61% -21.84%
LONG-TERM ASSETS
Property, Plant & Equipment $38.67M $39.75M
YoY Change -7.06% -74.46%
Goodwill $32.23M $32.23M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $1.970M $1.950M
YoY Change -0.25% -86.76%
Other Assets $6.827M $7.093M
YoY Change 1.04% 6.94%
Total Long-Term Assets $302.5M $306.3M
YoY Change -4.67% -3.9%
TOTAL ASSETS
Total Short-Term Assets $161.5M $154.8M
Total Long-Term Assets $302.5M $306.3M
Total Assets $463.9M $461.1M
YoY Change -10.46% -10.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.725M $5.438M
YoY Change -44.11% -11.92%
Accrued Expenses $23.90M $30.64M
YoY Change -16.81% 17.04%
Deferred Revenue $14.83M $14.08M
YoY Change 62.02% 82.61%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $90.87M $92.50M
YoY Change -2.51% 4.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $310.0K $119.0K
YoY Change 453.57% -99.93%
Total Long-Term Liabilities $310.0K $119.0K
YoY Change 453.57% -99.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $90.87M $92.50M
Total Long-Term Liabilities $310.0K $119.0K
Total Liabilities $266.4M $265.3M
YoY Change -0.85% -0.61%
SHAREHOLDERS EQUITY
Retained Earnings -$90.69M -$89.03M
YoY Change 225.72% 293.51%
Common Stock $917.0K $915.0K
YoY Change 3.5% 8.41%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $196.9M $195.1M
YoY Change
Total Liabilities & Shareholders Equity $463.9M $461.1M
YoY Change -10.46% -10.78%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$1.664M -$41.48M
YoY Change -68.12% 135.33%
Depreciation, Depletion And Amortization $1.929M $1.981M
YoY Change -3.21% -2.84%
Cash From Operating Activities $1.318M -$27.29M
YoY Change -84.37% -13.57%
INVESTING ACTIVITIES
Capital Expenditures $886.0K $2.081M
YoY Change -10.23% -42.62%
Acquisitions
YoY Change
Other Investing Activities $2.415M -$77.00K
YoY Change 836.05% -78.31%
Cash From Investing Activities $1.529M -$2.158M
YoY Change -309.74% -45.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -11.00K $0.00
YoY Change -8.33% -100.0%
NET CHANGE
Cash From Operating Activities 1.318M -$27.29M
Cash From Investing Activities 1.529M -$2.158M
Cash From Financing Activities -11.00K $0.00
Net Change In Cash 2.836M -$29.45M
YoY Change -63.14% -25.97%
FREE CASH FLOW
Cash From Operating Activities $1.318M -$27.29M
Capital Expenditures $886.0K $2.081M
Free Cash Flow $432.0K -$29.37M
YoY Change -94.2% -16.56%

Facts In Submission

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CY2024Q1 us-gaap Use Of Estimates
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<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><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:18pt"><span style="color:#231f20;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 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.</span></div>
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