2015 Q2 Form 10-Q Financial Statement

#000162828015004429 Filed on May 22, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $61.37M $58.54M $40.54M
YoY Change 44.36% 44.42%
Cost Of Revenue $21.91M $20.71M $15.39M
YoY Change 26.31% 34.53%
Gross Profit $39.46M $37.83M $25.14M
YoY Change 56.8% 50.48%
Gross Profit Margin 64.3% 64.63% 62.02%
Selling, General & Admin $33.18M $32.67M $16.68M
YoY Change 64.51% 95.83%
% of Gross Profit 84.08% 86.34% 66.35%
Research & Development $10.07M $10.01M $8.042M
YoY Change 14.56% 24.46%
% of Gross Profit 25.53% 26.46% 31.99%
Depreciation & Amortization $4.800M $4.341M $3.895M
YoY Change 17.07% 11.45%
% of Gross Profit 12.17% 11.47% 15.49%
Operating Expenses $43.25M $42.68M $24.72M
YoY Change 49.34% 72.62%
Operating Profit -$3.791M -$4.842M $419.0K
YoY Change -0.08% -1255.61%
Interest Expense $5.500M -$21.00M -$100.0K
YoY Change -5600.0% 20900.0%
% of Operating Profit -23.87%
Other Income/Expense, Net $2.346M -$21.02M -$669.0K
YoY Change 898.3% 3041.85%
Pretax Income -$1.445M -$25.86M -$250.0K
YoY Change -59.4% 10244.4%
Income Tax $4.909M $10.73M $213.0K
% Of Pretax Income
Net Earnings -$6.354M -$36.59M -$463.0K
YoY Change 101.65% 7801.94%
Net Earnings / Revenue -10.35% -62.49% -1.14%
Basic Earnings Per Share -$0.84
Diluted Earnings Per Share -$66.32K -$0.84 -$4.505K
COMMON SHARES
Basic Shares Outstanding 111.8M shares 43.70M shares
Diluted Shares Outstanding 43.70M shares

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $289.7M $92.27M
YoY Change 228.08%
Cash & Equivalents $268.2M $70.74M $44.45M
Short-Term Investments $21.54M $21.53M
Other Short-Term Assets $28.70M $23.40M
YoY Change 137.19%
Inventory
Prepaid Expenses
Receivables $14.03M $14.51M
Other Receivables $11.00M $12.10M
Total Short-Term Assets $343.4M $142.3M
YoY Change 193.72%
LONG-TERM ASSETS
Property, Plant & Equipment $85.45M $78.44M
YoY Change 44.09%
Goodwill $28.30M $28.23M
YoY Change
Intangibles $4.035M $4.524M
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.113M $2.124M
YoY Change -71.05%
Total Long-Term Assets $185.8M $189.1M
YoY Change 73.46%
TOTAL ASSETS
Total Short-Term Assets $343.4M $142.3M
Total Long-Term Assets $185.8M $189.1M
Total Assets $529.1M $331.4M
YoY Change 136.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.955M $7.058M
YoY Change 183.57%
Accrued Expenses $27.34M $21.89M
YoY Change 127.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.000M $2.200M
YoY Change 300.0%
Total Short-Term Liabilities $52.24M $46.87M
YoY Change 115.86%
LONG-TERM LIABILITIES
Long-Term Debt $7.000M $3.500M
YoY Change 400.0%
Other Long-Term Liabilities $21.66M $21.57M
YoY Change -45.04%
Total Long-Term Liabilities $21.66M $21.57M
YoY Change -46.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $52.24M $46.87M
Total Long-Term Liabilities $21.66M $21.57M
Total Liabilities $203.4M $196.2M
YoY Change 196.02%
SHAREHOLDERS EQUITY
Retained Earnings -$75.32M -$68.96M
YoY Change
Common Stock $112.0K $45.00K
YoY Change -99.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $325.8M $54.90M
YoY Change
Total Liabilities & Shareholders Equity $529.1M $331.4M
YoY Change 136.22%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$6.354M -$36.59M -$463.0K
YoY Change 101.65% 7801.94%
Depreciation, Depletion And Amortization $4.800M $4.341M $3.895M
YoY Change 17.07% 11.45%
Cash From Operating Activities $4.700M $8.895M $6.184M
YoY Change 571.43% 43.84%
INVESTING ACTIVITIES
Capital Expenditures -$5.400M $1.852M $571.0K
YoY Change 170.0% 224.34%
Acquisitions
YoY Change
Other Investing Activities -$100.0K -$2.300M -$1.200M
YoY Change -99.03% 91.67%
Cash From Investing Activities -$5.400M -$6.625M -$4.002M
YoY Change -56.1% 65.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 197.5M $1.675M $5.360M
YoY Change 450.14% -68.75%
NET CHANGE
Cash From Operating Activities 4.700M $8.895M $6.184M
Cash From Investing Activities -5.400M -$6.625M -$4.002M
Cash From Financing Activities 197.5M $1.675M $5.360M
Net Change In Cash 196.8M $3.945M $7.542M
YoY Change 709.88% -47.69%
FREE CASH FLOW
Cash From Operating Activities $4.700M $8.895M $6.184M
Capital Expenditures -$5.400M $1.852M $571.0K
Free Cash Flow $10.10M $7.043M $5.613M
YoY Change 274.07% 25.48%

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41453000 USD
CY2015Q1 us-gaap Liabilities Current
LiabilitiesCurrent
46866000 USD
CY2014Q1 us-gaap Marketing Expense
MarketingExpense
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CY2015Q1 us-gaap Marketing Expense
MarketingExpense
12210000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities
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5360000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
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1675000 USD
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CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-463000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-36586000 USD
CY2014Q1 us-gaap Noncash Contribution Expense
NoncashContributionExpense
0 USD
CY2015Q1 us-gaap Noncash Contribution Expense
NoncashContributionExpense
3200000 USD
CY2014Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-669000 USD
CY2015Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
24723000 USD
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
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CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
419000 USD
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-4842000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
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2022000 USD
CY2015Q1 us-gaap Other Assets Noncurrent
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CY2014Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2015Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
15056000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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15060000 USD
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-25000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
15060000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-3000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
4000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1913000 USD
CY2015Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
21569000 USD
CY2014Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2015Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1482000 USD
CY2014Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
9262000 USD
CY2015Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
5400000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
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571000 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2014Q1 us-gaap Payments To Develop Software
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2235000 USD
CY2015Q1 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
2428000 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
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12241000 USD
CY2015Q1 us-gaap Prepaid Expense And Other Assets Current
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10789000 USD
CY2015Q1 us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
97151751 shares
CY2014Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
8066000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
3055000 USD
CY2014Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5758000 USD
CY2015Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1188000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
75538000 USD
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
78438000 USD
CY2014Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
338000 USD
CY2015Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
767000 USD
CY2014Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
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323000 USD
CY2015Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
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503000 USD
CY2014Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8042000 USD
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10009000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
5341000 USD
CY2015Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
5341000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-32377000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-68963000 USD
CY2014Q1 us-gaap Revenues
Revenues
40536000 USD
CY2015Q1 us-gaap Revenues
Revenues
58543000 USD
CY2014Q1 us-gaap Sales Revenue Net
SalesRevenueNet
40536000 USD
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
58543000 USD
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1018745 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.19
CY2015Q1 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
284000 USD
CY2015Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1188000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
67088000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
54902000 USD
CY2015Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.5
CY2014Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
80212000 USD
CY2015Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
80212000 USD
CY2014Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-616000 USD
CY2015Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
12000 USD
CY2014Q1 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-616000 USD
CY2015Q1 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
12000 USD
CY2015Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
2400000 USD
CY2015Q1 us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
97151751 shares
CY2015Q1 us-gaap Weighted Average Number Basic Shares Outstanding Adjustment Pro Forma
WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma
53448243 shares
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34512839 shares
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
43703508 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43703508 shares
CY2015Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the Company&#8217;s consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The accounting estimates that require management&#8217;s most difficult and subjective judgments include revenue recognition, income taxes, website development costs and internal-use software, purchase price allocations for business combinations, valuation of goodwill and intangible assets and stock-based compensation. The Company evaluates its estimates and judgments on an ongoing basis and revises them when necessary. Actual results may differ from the original or revised estimates.</font></div></div>

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0001628280-15-004429-index-headers.html Edgar Link pending
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0001628280-15-004429.txt Edgar Link pending
0001628280-15-004429-xbrl.zip Edgar Link pending
etsy-20150331.xml Edgar Link completed
etsy-20150331.xsd Edgar Link pending
etsy-20150331_cal.xml Edgar Link unprocessable
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