2024 Q1 Form 10-K Financial Statement

#000142080024000006 Filed on February 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $516.3M $455.0M $1.707B
YoY Change 27.11% 11.33% 9.22%
Cost Of Revenue $218.4M $188.0M $716.4M
YoY Change 27.64% 6.8% 3.27%
Gross Profit $297.9M $267.0M $990.8M
YoY Change 26.73% 15.2% 13.96%
Gross Profit Margin 57.7% 58.68% 58.04%
Selling, General & Admin $255.7M $195.9M $830.3M
YoY Change 23.42% 12.57% 7.43%
% of Gross Profit 85.83% 73.38% 83.8%
Research & Development $23.38M $18.32M $75.33M
YoY Change 28.49% 24.41% 23.84%
% of Gross Profit 7.85% 6.86% 7.6%
Depreciation & Amortization $6.431M $56.62M $217.1M
YoY Change -87.63% 8.34% 6.97%
% of Gross Profit 2.16% 21.21% 21.91%
Operating Expenses $279.1M $249.5M $905.6M
YoY Change 23.83% 13.17% 8.62%
Operating Profit -$35.01M $17.48M -$65.71M
YoY Change 40.24% 55.0% -7.68%
Interest Expense $20.00M -$4.253M $19.75M
YoY Change 253.79% -117.61% -17.89%
% of Operating Profit -24.33%
Other Income/Expense, Net -$24.24M $25.00M $25.66M
YoY Change -3766.41% 1298.1% 1129.07%
Pretax Income -$79.25M $7.657M -$67.13M
YoY Change 164.51% -401.46% 3144.47%
Income Tax -$7.404M $4.589M -$13.29M
% Of Pretax Income 59.93%
Net Earnings -$72.00M $2.964M -$33.26M
YoY Change 208.34% -107.68% 150.23%
Net Earnings / Revenue -13.95% 0.65% -1.95%
Basic Earnings Per Share -$1.32 -$0.61
Diluted Earnings Per Share -$1.32 $0.05 -$0.61
COMMON SHARES
Basic Shares Outstanding 54.62M shares 54.59M shares 54.49M shares
Diluted Shares Outstanding 54.69M shares 54.49M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $66.27M $36.19M $36.19M
YoY Change 202.59% 48.96% 48.96%
Cash & Equivalents $66.27M $36.19M $36.19M
Short-Term Investments
Other Short-Term Assets $81.36M $71.11M $100.0M
YoY Change 33.34% 47.67% 30.39%
Inventory $586.0M $468.8M $468.8M
Prepaid Expenses $36.03M $28.90M
Receivables $381.1M $291.5M $291.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.151B $896.5M $896.5M
YoY Change 38.12% 12.77% 12.77%
LONG-TERM ASSETS
Property, Plant & Equipment $345.7M $270.8M $334.3M
YoY Change 40.54% 14.39% 10.11%
Goodwill $2.415B $2.061B
YoY Change 21.51% 3.9%
Intangibles $1.408B $1.127B
YoY Change 30.18% 1.5%
Long-Term Investments
YoY Change
Other Assets $89.19M $90.26M $90.26M
YoY Change 1.5% 12.41% 12.41%
Total Long-Term Assets $4.328B $3.613B $3.613B
YoY Change 24.85% 3.87% 3.87%
TOTAL ASSETS
Total Short-Term Assets $1.151B $896.5M $896.5M
Total Long-Term Assets $4.328B $3.613B $3.613B
Total Assets $5.479B $4.509B $4.509B
YoY Change 27.42% 5.52% 5.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $155.7M $132.5M $132.5M
YoY Change 2.64% -2.32% -2.32%
Accrued Expenses $373.3M $237.1M $219.8M
YoY Change 88.76% 12.76% 13.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $20.10M $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $549.1M $369.6M $369.6M
YoY Change 57.12% -34.61% -34.61%
LONG-TERM LIABILITIES
Long-Term Debt $1.318B $466.2M $466.2M
YoY Change 362.62% 1065.41% 1065.41%
Other Long-Term Liabilities $249.1M $204.2M $252.9M
YoY Change 46.05% 22.27% 15.86%
Total Long-Term Liabilities $1.568B $670.3M $719.0M
YoY Change 244.11% 223.85% 178.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $549.1M $369.6M $369.6M
Total Long-Term Liabilities $1.568B $670.3M $719.0M
Total Liabilities $2.168B $1.089B $1.091B
YoY Change 153.75% 32.2% 32.21%
SHAREHOLDERS EQUITY
Retained Earnings $470.5M $542.5M
YoY Change -14.83% -5.78%
Common Stock $55.00K $55.00K
YoY Change 1.85% 1.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.308B $3.418B $3.418B
YoY Change
Total Liabilities & Shareholders Equity $5.479B $4.509B $4.509B
YoY Change 27.42% 5.52% 5.52%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$72.00M $2.964M -$33.26M
YoY Change 208.34% -107.68% 150.23%
Depreciation, Depletion And Amortization $6.431M $56.62M $217.1M
YoY Change -87.63% 8.34% 6.97%
Cash From Operating Activities -$36.16M $68.42M $135.0M
YoY Change -584.86% -290.26% -341.65%
INVESTING ACTIVITIES
Capital Expenditures $36.93M $27.94M $122.2M
YoY Change 21.3% -24.03% 15.91%
Acquisitions $760.9M $152.8M
YoY Change 19202.74% 107.39%
Other Investing Activities -$760.9M -$31.43M -$120.2M
YoY Change 19202.74% 10589.8% 69.51%
Cash From Investing Activities -$797.8M -$59.37M -$242.5M
YoY Change 2220.32% 60.14% 37.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.776M
YoY Change -69.45%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $864.5M 2.789M $127.8M
YoY Change 3429.02% -93.3% -127.48%
NET CHANGE
Cash From Operating Activities -$36.16M 68.42M $135.0M
Cash From Investing Activities -$797.8M -59.37M -$242.5M
Cash From Financing Activities $864.5M 2.789M $127.8M
Net Change In Cash $29.71M 11.83M $20.54M
YoY Change -1340.67% -137.67% -102.95%
FREE CASH FLOW
Cash From Operating Activities -$36.16M $68.42M $135.0M
Capital Expenditures $36.93M $27.94M $122.2M
Free Cash Flow -$73.08M $40.47M $12.77M
YoY Change 217.95% -155.64% -107.91%

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CY2021 us-gaap Income Taxes Paid Net
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CY2022 us-gaap Stock Issued1
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CY2021 us-gaap Stock Issued1
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CY2022 cfx Stock Issued In Exchange For Debt Net
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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company makes certain estimates and assumptions in preparing its Consolidated Financial Statements in accordance with U.S. GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses for the period presented. Actual results may differ from those estimates.</span></div>
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