2024 Q3 Form 10-Q Financial Statement

#000080364924000060 Filed on July 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $13.99M $14.11M
YoY Change -8.05% -3.3%
Cost Of Revenue $6.863M $6.721M
YoY Change 2.43% -3.18%
Gross Profit $7.125M $7.388M
YoY Change -16.18% -3.4%
Gross Profit Margin 50.94% 52.36%
Selling, General & Admin $8.886M $8.356M
YoY Change 25.15% -39.69%
% of Gross Profit 124.72% 113.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.214M $4.182M
YoY Change -5.0% 9.36%
% of Gross Profit 59.14% 56.61%
Operating Expenses $13.10M $12.54M
YoY Change 13.91% -31.74%
Operating Profit -$5.975M -$5.150M
YoY Change 99.17% -51.96%
Interest Expense $30.00M $29.77M
YoY Change 2.38% 8.84%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$26.21M $24.62M
YoY Change -199.78% 48.03%
Income Tax $22.00K $434.0K
% Of Pretax Income 1.76%
Net Earnings -$26.19M $24.15M
YoY Change -200.16% 75.17%
Net Earnings / Revenue -187.22% 171.17%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.26 $0.20
COMMON SHARES
Basic Shares Outstanding 107.3M shares 107.3M shares
Diluted Shares Outstanding 107.5M shares 108.8M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.225B $2.196B
YoY Change 4.58% 1.99%
Cash & Equivalents $2.200B $2.200B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $8.046M $17.26M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.233B $2.213B
YoY Change 4.21% 2.02%
LONG-TERM ASSETS
Property, Plant & Equipment $111.3M $234.3M
YoY Change -52.19% -0.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $86.80M
YoY Change
Total Long-Term Assets $207.9M $250.7M
YoY Change -17.09% -0.79%
TOTAL ASSETS
Total Short-Term Assets $2.233B $2.213B
Total Long-Term Assets $207.9M $250.7M
Total Assets $2.441B $2.464B
YoY Change 1.98% 1.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.62M $19.59M
YoY Change -23.39% -2.15%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $20.42M $23.25M
YoY Change -30.53% -13.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.524M $2.706M
YoY Change 258.29% -13.6%
Total Long-Term Liabilities $7.524M $2.706M
YoY Change 258.29% -13.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.42M $23.25M
Total Long-Term Liabilities $7.524M $2.706M
Total Liabilities $27.95M $25.95M
YoY Change -11.42% -31.46%
SHAREHOLDERS EQUITY
Retained Earnings $3.950B $3.977B
YoY Change 1.28% 2.64%
Common Stock $3.943B $3.941B
YoY Change 0.31% -1.13%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.410B $2.434B
YoY Change
Total Liabilities & Shareholders Equity $2.441B $2.464B
YoY Change 1.98% 1.73%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$26.19M $24.15M
YoY Change -200.16% 75.17%
Depreciation, Depletion And Amortization $4.214M $4.182M
YoY Change -5.0% 9.36%
Cash From Operating Activities $33.10M $32.91M
YoY Change -5.41% 16.46%
INVESTING ACTIVITIES
Capital Expenditures $1.781M $5.870M
YoY Change 18.73% 209.27%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.781M -$5.870M
YoY Change 18.73% 209.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.997M -2.047M
YoY Change -96.6% 2.5%
NET CHANGE
Cash From Operating Activities 33.10M 32.91M
Cash From Investing Activities -1.781M -5.870M
Cash From Financing Activities -1.997M -2.047M
Net Change In Cash 29.33M 24.99M
YoY Change -215.92% 2.59%
FREE CASH FLOW
Cash From Operating Activities $33.10M $32.91M
Capital Expenditures $1.781M $5.870M
Free Cash Flow $31.32M $27.04M
YoY Change -6.5% 2.58%

Facts In Submission

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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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eqc Cash Paid For Real Estate Improvements
CashPaidForRealEstateImprovements
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eqc Cash Paid For Real Estate Improvements
CashPaidForRealEstateImprovements
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
2036000 usd
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
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us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
3994000 usd
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
3994000 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
50000 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
1843000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
35288000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2160535000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2582222000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2195823000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2153047000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
182000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1946000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
873000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2108000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1697000 usd
CY2024Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
3663000 usd
CY2023Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
6868000 usd
us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
1444000 usd
us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
0 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2200000000 usd
us-gaap Real Estate Improvements
RealEstateImprovements
10200000 usd
CY2024Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
8622000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
17763000 usd
CY2024Q2 us-gaap Variable Lease Income
VariableLeaseIncome
4194000 usd
CY2024Q2 us-gaap Lease Income
LeaseIncome
12816000 usd
CY2023Q2 us-gaap Lease Income
LeaseIncome
13358000 usd
us-gaap Lease Income
LeaseIncome
27584000 usd
CY2024Q1 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
2000000.0 usd
CY2024Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.40625
CY2024Q1 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
0.40625
CY2024Q2 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
0.40625
CY2024Q2 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.40625
eqc Common Stock Conversion Term
CommonStockConversionTerm
P6M
eqc Common Stock Basis For Conversion
CommonStockBasisForConversion
1
CY2024Q2 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
434000 usd
CY2023Q2 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
30000 usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
464000 usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
60000 usd
CY2024Q2 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2023Q2 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
766000 usd
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1816000 usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
434000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
796000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
464000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1876000 usd
CY2024Q2 eqc Number Of Trustees In Board Of Trustees
NumberOfTrusteesInBoardOfTrustees
6 trustee
CY2024Q2 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
100000 usd
CY2023Q2 eqc Number Of Trustees In Board Of Trustees
NumberOfTrusteesInBoardOfTrustees
6 trustee
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
100000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
0 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
5200000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
0 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
5200000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1406557 shares
CY2024Q2 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
0 usd
CY2024Q2 us-gaap Profit Loss
ProfitLoss
24186000 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
15836000 usd
us-gaap Profit Loss
ProfitLoss
49644000 usd
us-gaap Profit Loss
ProfitLoss
38587000 usd
CY2024Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
36000 usd
CY2023Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
52000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
89000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
118000 usd
CY2024Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1997000 usd
CY2023Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1997000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3994000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3994000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
22153000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13787000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
45561000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
34475000 usd
CY2024Q2 us-gaap Profit Loss
ProfitLoss
24186000 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
15836000 usd
us-gaap Profit Loss
ProfitLoss
49644000 usd
us-gaap Profit Loss
ProfitLoss
38587000 usd
CY2024Q2 eqc Net Income Loss Attributable To Noncontrolling Interest Diluted
NetIncomeLossAttributableToNoncontrollingInterestDiluted
36000 usd
CY2023Q2 eqc Net Income Loss Attributable To Noncontrolling Interest Diluted
NetIncomeLossAttributableToNoncontrollingInterestDiluted
52000 usd
eqc Net Income Loss Attributable To Noncontrolling Interest Diluted
NetIncomeLossAttributableToNoncontrollingInterestDiluted
89000 usd
eqc Net Income Loss Attributable To Noncontrolling Interest Diluted
NetIncomeLossAttributableToNoncontrollingInterestDiluted
118000 usd
CY2024Q2 us-gaap Dilutive Securities
DilutiveSecurities
-1997000 usd
CY2023Q2 us-gaap Dilutive Securities
DilutiveSecurities
-1997000 usd
us-gaap Dilutive Securities
DilutiveSecurities
-3994000 usd
us-gaap Dilutive Securities
DilutiveSecurities
-3994000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
22153000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
13787000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
45561000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
34475000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
107416000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
109839000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
107316000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
109779000 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
108751000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111237000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
108487000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111269000 shares
CY2024Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.21
CY2023Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.13
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.42
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.31
CY2024Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.20
CY2023Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.12
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.42
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.31
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0650
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0650
CY2024Q2 eqc Weighted Average Number Of Shares Restricted Stock Units Unvested
WeightedAverageNumberOfSharesRestrictedStockUnitsUnvested
128000 shares
CY2023Q2 eqc Weighted Average Number Of Shares Restricted Stock Units Unvested
WeightedAverageNumberOfSharesRestrictedStockUnitsUnvested
131000 shares
eqc Weighted Average Number Of Shares Restricted Stock Units Unvested
WeightedAverageNumberOfSharesRestrictedStockUnitsUnvested
129000 shares
eqc Weighted Average Number Of Shares Restricted Stock Units Unvested
WeightedAverageNumberOfSharesRestrictedStockUnitsUnvested
122000 shares
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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eqc-20240630_def.xml Edgar Link unprocessable
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