2022 Q3 Form 10-Q Financial Statement

#000136764422000119 Filed on August 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $240.0M $242.7M $307.5M
YoY Change -27.05% -38.94% -10.35%
Cost Of Revenue $148.6M $169.8M $155.9M
YoY Change -31.68% -25.46% 57.0%
Gross Profit $74.00M $65.60M $142.0M
YoY Change -33.63% -54.54% -36.15%
Gross Profit Margin 30.83% 27.03% 46.18%
Selling, General & Admin $80.20M $81.10M $84.80M
YoY Change -2.31% -11.07% 4.82%
% of Gross Profit 108.38% 123.63% 59.72%
Research & Development $39.20M $49.80M $46.40M
YoY Change -20.97% 1.84% -11.62%
% of Gross Profit 52.97% 75.91% 32.68%
Depreciation & Amortization $20.40M $28.50M $30.90M
YoY Change -37.61% 54.05% 7.67%
% of Gross Profit 27.57% 43.45% 21.76%
Operating Expenses $119.4M $130.9M $131.2M
YoY Change -9.34% -6.57% -1.65%
Operating Profit -$42.00M -$72.00M $6.400M
YoY Change 21.04% -596.55% -93.29%
Interest Expense $8.500M $7.800M $8.200M
YoY Change 1.19% -9.3% -3.53%
% of Operating Profit 128.13%
Other Income/Expense, Net -$21.90M -$10.80M -$10.20M
YoY Change 102.78% 47.95% 0.0%
Pretax Income -$63.90M -$82.80M -$3.800M
YoY Change 40.44% -1250.0% -104.46%
Income Tax $11.80M -$26.40M -$100.0K
% Of Pretax Income
Net Earnings -$75.70M -$56.40M -$3.700M
YoY Change 131.5% -1326.09% -105.31%
Net Earnings / Revenue -31.54% -23.24% -1.2%
Basic Earnings Per Share -$1.52 -$1.13 -$0.07
Diluted Earnings Per Share -$1.52 -$1.13 -$0.07
COMMON SHARES
Basic Shares Outstanding 49.86M shares 50.00M shares 50.70M shares
Diluted Shares Outstanding 49.90M shares 50.00M shares 50.70M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $240.9M $358.1M $435.8M
YoY Change -40.34% -19.98% -20.45%
Cash & Equivalents $240.9M $358.1M $435.8M
Short-Term Investments
Other Short-Term Assets $140.0M $125.6M $82.00M
YoY Change 177.23% 372.18% 7354.55%
Inventory $546.3M $425.5M $400.7M
Prepaid Expenses
Receivables $191.3M $175.0M $181.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.119B $1.084B $1.100B
YoY Change 0.63% -6.7% -6.84%
LONG-TERM ASSETS
Property, Plant & Equipment $806.7M $798.4M $807.5M
YoY Change 4.94% 7.38% 16.54%
Goodwill $224.9M $224.9M $224.9M
YoY Change -15.61% -15.64% -15.61%
Intangibles $722.7M $576.6M $590.6M
YoY Change 16.83% -8.92% -8.89%
Long-Term Investments
YoY Change
Other Assets $35.70M $51.30M $57.10M
YoY Change -65.07% -53.32% -48.74%
Total Long-Term Assets $1.790B $1.651B $1.680B
YoY Change 1.94% -5.81% -2.26%
TOTAL ASSETS
Total Short-Term Assets $1.119B $1.084B $1.100B
Total Long-Term Assets $1.790B $1.651B $1.680B
Total Assets $2.909B $2.735B $2.780B
YoY Change 1.43% -6.17% -4.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $103.8M $106.2M $107.3M
YoY Change -23.22% -30.04% -24.54%
Accrued Expenses $35.90M $40.30M $29.30M
YoY Change -16.32% 19.23% 17.2%
Deferred Revenue $24.80M $18.50M $10.00M
YoY Change -32.61% -66.06% -83.42%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $21.20M $31.60M $31.60M
YoY Change -32.91% 9.72% 21.54%
Total Short-Term Liabilities $268.4M $276.7M $249.2M
YoY Change -26.55% -26.76% -32.69%
LONG-TERM LIABILITIES
Long-Term Debt $1.032B $793.6M $801.5M
YoY Change 26.28% -3.83% -3.79%
Other Long-Term Liabilities $44.90M $58.50M $49.30M
YoY Change -23.51% -4.72% -21.62%
Total Long-Term Liabilities $1.077B $852.1M $850.8M
YoY Change 22.95% -3.89% -5.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $268.4M $276.7M $249.2M
Total Long-Term Liabilities $1.077B $852.1M $850.8M
Total Liabilities $1.459B $1.222B $1.205B
YoY Change 8.51% -10.89% -12.5%
SHAREHOLDERS EQUITY
Retained Earnings $822.0M $897.7M $954.1M
YoY Change 6.96% 12.04% 19.77%
Common Stock $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $227.7M $227.7M $204.4M
YoY Change 475.0% 475.0% 416.16%
Treasury Stock Shares 5.600M shares 5.600M shares 4.900M shares
Shareholders Equity $1.449B $1.513B $1.575B
YoY Change
Total Liabilities & Shareholders Equity $2.909B $2.735B $2.780B
YoY Change 1.43% -6.17% -4.13%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$75.70M -$56.40M -$3.700M
YoY Change 131.5% -1326.09% -105.31%
Depreciation, Depletion And Amortization $20.40M $28.50M $30.90M
YoY Change -37.61% 54.05% 7.67%
Cash From Operating Activities -$74.00M -$15.60M -$37.30M
YoY Change -543.11% -47.47% -831.37%
INVESTING ACTIVITIES
Capital Expenditures -$271.6M -$32.10M $32.20M
YoY Change 392.03% -52.09% -42.6%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$271.6M -$32.10M -$32.20M
YoY Change 392.03% -52.09% -42.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $57.50M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 229.3M -30.70M -$70.50M
YoY Change -4686.0% 707.89% 217.57%
NET CHANGE
Cash From Operating Activities -74.00M -15.60M -$37.30M
Cash From Investing Activities -271.6M -32.10M -$32.20M
Cash From Financing Activities 229.3M -30.70M -$70.50M
Net Change In Cash -116.3M -78.40M -$140.3M
YoY Change 167.36% -21.99% 90.88%
FREE CASH FLOW
Cash From Operating Activities -$74.00M -$15.60M -$37.30M
Capital Expenditures -$271.6M -$32.10M $32.20M
Free Cash Flow $197.6M $16.50M -$69.50M
YoY Change 174.83% -55.76% 36.27%

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CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-56400000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
4600000 usd
us-gaap Net Income Loss
NetIncomeLoss
-60100000 usd
us-gaap Net Income Loss
NetIncomeLoss
74300000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50000000.0 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53500000 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
400000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
800000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50000000.0 shares
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.19
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.40
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.13
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.37
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1800000 shares
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1400000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3000000.0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
500000 shares
CY2021Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
250000000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2900000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12300000 usd
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11400000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22200000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
21900000 usd
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
7700000 usd
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-2300000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
10000000.0 usd
CY2022Q2 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
2300000 usd
CY2022Q2 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-900000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
3200000 usd
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-100000 usd
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-3000000.0 usd
CY2021Q2 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
400000 usd
CY2021Q2 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-1600000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2000000.0 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
5100000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
1900000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
3200000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
1700000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-300000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2000000.0 usd
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
14400000 usd
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
4400000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
10000000.0 usd
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
1900000 usd
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-1000000.0 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2900000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2022Q2 us-gaap Revenues
Revenues
242700000 usd
CY2021Q2 us-gaap Revenues
Revenues
397500000 usd
CY2022Q2 us-gaap Gross Profit
GrossProfit
65600000 usd
CY2021Q2 us-gaap Gross Profit
GrossProfit
144300000 usd
CY2022Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
1300000 usd
CY2021Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
600000 usd
CY2022Q2 ebs Adjusted Gross Margin
AdjustedGrossMargin
66900000 usd
CY2021Q2 ebs Adjusted Gross Margin
AdjustedGrossMargin
144900000 usd
us-gaap Revenues
Revenues
550200000 usd
us-gaap Revenues
Revenues
740500000 usd
us-gaap Gross Profit
GrossProfit
207600000 usd
us-gaap Gross Profit
GrossProfit
366700000 usd
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
1800000 usd
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
1700000 usd
ebs Adjusted Gross Margin
AdjustedGrossMargin
209400000 usd
ebs Adjusted Gross Margin
AdjustedGrossMargin
368400000 usd
CY2022Q2 us-gaap Depreciation
Depreciation
28500000 usd
CY2021Q2 us-gaap Depreciation
Depreciation
18500000 usd
us-gaap Depreciation
Depreciation
45100000 usd
us-gaap Depreciation
Depreciation
32100000 usd

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