2017 Q2 Form 10-Q Financial Statement

#000162890817000044 Filed on August 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $107.1M $56.52M
YoY Change 89.45% 442.71%
Cost Of Revenue $68.00M $32.80M
YoY Change 107.32% 315.19%
Gross Profit $39.10M $23.70M
YoY Change 64.98% 848.0%
Gross Profit Margin 36.52% 41.93%
Selling, General & Admin $51.09M $32.76M
YoY Change 55.97% 150.39%
% of Gross Profit 130.66% 138.21%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.900M $800.0K
YoY Change 137.5% 300.0%
% of Gross Profit 4.86% 3.38%
Operating Expenses $126.2M $69.15M
YoY Change 82.49% 214.98%
Operating Profit -$19.12M -$12.63M
YoY Change 51.37% 9.45%
Interest Expense $947.0K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net $3.000K $1.000K
YoY Change 200.0%
Pretax Income -$20.40M -$12.37M
YoY Change 64.9% -103.21%
Income Tax -$700.0K -$400.0K
% Of Pretax Income
Net Earnings -$16.91M -$8.387M
YoY Change 101.56% -102.33%
Net Earnings / Revenue -15.79% -14.84%
Basic Earnings Per Share -$0.28 -$0.20
Diluted Earnings Per Share -$0.28 -$0.20
COMMON SHARES
Basic Shares Outstanding 59.48M shares 42.59M shares
Diluted Shares Outstanding 59.48M shares 42.59M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $124.0M $132.7M
YoY Change -6.56% -39.52%
Cash & Equivalents $99.98M $105.1M
Short-Term Investments $24.00M $27.60M
Other Short-Term Assets $22.90M $7.500M
YoY Change 205.33% -9.64%
Inventory
Prepaid Expenses
Receivables $45.80M $30.34M
Other Receivables $0.00 $0.00
Total Short-Term Assets $192.6M $170.6M
YoY Change 12.94% -32.22%
LONG-TERM ASSETS
Property, Plant & Equipment $40.19M $18.47M
YoY Change 117.64%
Goodwill $628.7M $459.7M
YoY Change 36.75% -24.5%
Intangibles $254.5M $165.4M
YoY Change 53.81% -2.11%
Long-Term Investments $1.100M $27.20M
YoY Change -95.96%
Other Assets $9.483M $9.859M
YoY Change -3.81% 6429.14%
Total Long-Term Assets $945.7M $682.2M
YoY Change 38.62% -13.44%
TOTAL ASSETS
Total Short-Term Assets $192.6M $170.6M
Total Long-Term Assets $945.7M $682.2M
Total Assets $1.138B $852.8M
YoY Change 33.48% -17.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $26.28M $12.38M
YoY Change 112.36% -8.54%
Accrued Expenses $25.92M $8.513M
YoY Change 204.46% -57.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $101.8M $56.73M
YoY Change 79.39% -6.71%
LONG-TERM LIABILITIES
Long-Term Debt $120.9M $0.00
YoY Change
Other Long-Term Liabilities $10.02M $7.972M
YoY Change 25.74%
Total Long-Term Liabilities $10.02M $7.972M
YoY Change 25.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $101.8M $56.73M
Total Long-Term Liabilities $10.02M $7.972M
Total Liabilities $243.9M $84.66M
YoY Change 188.11% -7.11%
SHAREHOLDERS EQUITY
Retained Earnings $111.7M $175.2M
YoY Change -36.26% -45.71%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $859.8M $537.7M
YoY Change
Total Liabilities & Shareholders Equity $1.138B $852.8M
YoY Change 33.48% -17.99%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$16.91M -$8.387M
YoY Change 101.56% -102.33%
Depreciation, Depletion And Amortization $1.900M $800.0K
YoY Change 137.5% 300.0%
Cash From Operating Activities -$3.040M -$1.120M
YoY Change 171.43% -80.72%
INVESTING ACTIVITIES
Capital Expenditures -$6.450M -$3.910M
YoY Change 64.96% 283.33%
Acquisitions
YoY Change
Other Investing Activities $3.170M -$910.0K
YoY Change -448.35% -105.33%
Cash From Investing Activities -$3.280M -$4.810M
YoY Change -31.81% -129.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.98M -230.0K
YoY Change 4673.91% -100.11%
NET CHANGE
Cash From Operating Activities -3.040M -1.120M
Cash From Investing Activities -3.280M -4.810M
Cash From Financing Activities -10.98M -230.0K
Net Change In Cash -17.30M -6.160M
YoY Change 180.84% -102.81%
FREE CASH FLOW
Cash From Operating Activities -$3.040M -$1.120M
Capital Expenditures -$6.450M -$3.910M
Free Cash Flow $3.410M $2.790M
YoY Change 22.22% -158.25%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Accounting Estimates and Assumptions</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions affecting the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses for the reporting period. Those estimates are inherently subject to change and actual results could differ from those estimates. In the accompanying consolidated financial statements, estimates are used for, but not limited to, the valuation of assets, liabilities, consideration related to business combinations and asset acquisitions, revenue recognition including discounts and credits, estimated selling prices for deliverables in multiple element arrangements, contingent payments, allowance for doubtful accounts, depreciable lives of assets, impairment of long lived assets (including equity method investments), stock-based compensation, deferred income taxes and valuation allowance, contingent liabilities, valuation of intangible assets (including goodwill) and the useful lives of intangible assets.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;"></font></div></div>

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