2020 Q3 Form 10-Q Financial Statement

#000143774920022923 Filed on November 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3
Revenue $283.8M $187.3M
YoY Change 51.54% 10.48%
Cost Of Revenue $168.3M $111.1M
YoY Change 51.45% 10.06%
Gross Profit $115.5M $76.15M
YoY Change 51.66% 11.1%
Gross Profit Margin 40.69% 40.66%
Selling, General & Admin $108.5M $78.36M
YoY Change 38.46% 6.78%
% of Gross Profit 93.95% 102.91%
Research & Development $11.60M $10.80M
YoY Change 7.41% 5.1%
% of Gross Profit 10.05% 14.19%
Depreciation & Amortization $8.840M $7.635M
YoY Change 15.78% -2.65%
% of Gross Profit 7.66% 10.03%
Operating Expenses $128.9M $96.80M
YoY Change 33.2% 5.78%
Operating Profit -$13.46M -$20.65M
YoY Change -34.82% -10.07%
Interest Expense -$1.040M -$595.0K
YoY Change 74.79% -39.9%
% of Operating Profit
Other Income/Expense, Net $999.0K -$84.00K
YoY Change -1289.29% -130.66%
Pretax Income -$13.50M -$21.33M
YoY Change -36.71% -9.92%
Income Tax -$3.740M -$6.061M
% Of Pretax Income
Net Earnings -$9.762M -$15.27M
YoY Change -36.07% -11.55%
Net Earnings / Revenue -3.44% -8.15%
Basic Earnings Per Share
Diluted Earnings Per Share -$152.4K -$237.2K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.00M $34.20M
YoY Change -67.84% -76.77%
Cash & Equivalents $11.01M $34.17M
Short-Term Investments
Other Short-Term Assets $39.30M $25.60M
YoY Change 53.52% 6.67%
Inventory $192.6M $172.5M
Prepaid Expenses
Receivables $31.99M $36.06M
Other Receivables $0.00 $0.00
Total Short-Term Assets $274.9M $268.4M
YoY Change 2.44% -1.69%
LONG-TERM ASSETS
Property, Plant & Equipment $198.4M $163.4M
YoY Change 21.41% 0.05%
Goodwill $208.0M $12.12M
YoY Change 1616.43% -80.63%
Intangibles $268.8M $129.1M
YoY Change 108.12% 12.63%
Long-Term Investments $3.100M $2.200M
YoY Change 40.91% -4.35%
Other Assets $21.69M $15.59M
YoY Change 39.06% 28.72%
Total Long-Term Assets $659.7M $396.6M
YoY Change 66.36% 33.13%
TOTAL ASSETS
Total Short-Term Assets $274.9M $268.4M
Total Long-Term Assets $659.7M $396.6M
Total Assets $934.7M $665.0M
YoY Change 40.56% 16.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.40M $37.13M
YoY Change 22.28% -10.4%
Accrued Expenses $140.1M $82.91M
YoY Change 68.96% 13.12%
Deferred Revenue $27.10M $16.50M
YoY Change 64.24% 22.22%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $37.50M $5.000M
YoY Change 650.0% -50.31%
Total Short-Term Liabilities $233.4M $135.4M
YoY Change 72.37% 8.51%
LONG-TERM LIABILITIES
Long-Term Debt $175.5M $90.80M
YoY Change 93.31% -1.63%
Other Long-Term Liabilities $22.64M $13.52M
YoY Change 67.47% 6.27%
Total Long-Term Liabilities $198.2M $13.52M
YoY Change 1366.0% 6.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $233.4M $135.4M
Total Long-Term Liabilities $198.2M $13.52M
Total Liabilities $543.1M $335.6M
YoY Change 61.86% 31.09%
SHAREHOLDERS EQUITY
Retained Earnings $157.8M $93.25M
YoY Change 69.17% 27.0%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $127.5M $115.8M
YoY Change 10.14% 14.66%
Treasury Stock Shares
Shareholders Equity $391.5M $329.4M
YoY Change
Total Liabilities & Shareholders Equity $934.7M $665.0M
YoY Change 40.56% 16.48%

Cashflow Statement

Concept 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$9.762M -$15.27M
YoY Change -36.07% -11.55%
Depreciation, Depletion And Amortization $8.840M $7.635M
YoY Change 15.78% -2.65%
Cash From Operating Activities -$90.71M -$112.8M
YoY Change -19.57% 3.07%
INVESTING ACTIVITIES
Capital Expenditures $6.958M $4.359M
YoY Change 59.62% -11.17%
Acquisitions $250.9M $20.50M
YoY Change 1124.11%
Other Investing Activities -$251.3M -$20.50M
YoY Change 1125.85%
Cash From Investing Activities -$258.2M -$24.86M
YoY Change 938.76% 406.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.088M $31.00K
YoY Change 3409.68% -99.23%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $119.4M -$1.112M
YoY Change -10841.01% -81.13%
NET CHANGE
Cash From Operating Activities -$90.71M -$112.8M
Cash From Investing Activities -$258.2M -$24.86M
Cash From Financing Activities $119.4M -$1.112M
Net Change In Cash -$229.5M -$138.7M
YoY Change 65.4% 15.41%
FREE CASH FLOW
Cash From Operating Activities -$90.71M -$112.8M
Capital Expenditures $6.958M $4.359M
Free Cash Flow -$97.67M -$117.1M
YoY Change -16.62% 2.46%

Facts In Submission

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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><i><b>Use of Estimates</b></i></p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><b> </b></p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"> </p>
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CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2393000 USD
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1765000 USD
CY2020Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
603000 USD
CY2019Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
703000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
1790000 USD
CY2019Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
1062000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2393000 USD
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1765000 USD
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1230000
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.77
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2020Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2020Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
76378
CY2020Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.89
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
-0
CY2020Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1153622
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.76
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1138622
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.53
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P1Y
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
25599000 USD
CY2020Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
104862000 USD
CY2020Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
35779000 USD
CY2020Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
19125000 USD
CY2020Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
16536000 USD
CY2020Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
68626000 USD
CY2020Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
45445000 USD
CY2020Q3 us-gaap Inventory Net
InventoryNet
192613000 USD
CY2020Q2 us-gaap Inventory Net
InventoryNet
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CY2020Q2 us-gaap Goodwill
Goodwill
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CY2020Q3 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
133337000 USD
CY2020Q3 us-gaap Goodwill
Goodwill
208048000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
34191000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
19795000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
14396000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
23191000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
19109000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4082000 USD
CY2020Q3 us-gaap Indefinite Lived Trademarks
IndefiniteLivedTrademarks
127191000 USD
CY2020Q3 us-gaap Indefinite Lived Trademarks
IndefiniteLivedTrademarks
127191000 USD
CY2020Q2 us-gaap Indefinite Lived Trademarks
IndefiniteLivedTrademarks
62191000 USD
CY2020Q2 us-gaap Indefinite Lived Trademarks
IndefiniteLivedTrademarks
62191000 USD
CY2020Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
161382000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
19795000 USD
CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
141587000 USD
CY2020Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
85382000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
19109000 USD
CY2020Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
66273000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2700000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3300000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3300000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3300000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
800000 USD
CY2020Q3 flws Finitelived Intangible Asset Expected Amortization After Year Four
FinitelivedIntangibleAssetExpectedAmortizationAfterYearFour
1000000.0 USD
CY2020Q2 us-gaap Property Plant And Equipment Net
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169075000 USD
CY2020Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
402885000 USD
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
241480000 USD
CY2020Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
233810000 USD
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
198412000 USD
CY2020Q3 us-gaap Cost Method Investments
CostMethodInvestments
3100000 USD
CY2020Q2 us-gaap Cost Method Investments
CostMethodInvestments
2800000 USD
CY2020Q2 us-gaap Trading Securities
TradingSecurities
13442000 USD
CY2020Q2 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
13442000 USD
CY2020Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
4478000 USD
CY2020Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2441000 USD
CY2020Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
213022000 USD
CY2020Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
92559000 USD
CY2020Q3 us-gaap Debt Current
DebtCurrent
37500000 USD
CY2020Q2 us-gaap Debt Current
DebtCurrent
5000000 USD
CY2020Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
175522000 USD
CY2020Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
87559000 USD
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
439892000 USD
CY2020Q3 us-gaap Trading Securities
TradingSecurities
16311000 USD
CY2020Q3 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
16311000 USD
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.277 pure
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.284 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2020Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1300000 USD
CY2020Q3 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
1000000.0 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
283772000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
187263000 USD
CY2020Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
8840000 USD
CY2019Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
7635000 USD
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-13461000 USD
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-20653000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
283772000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
187263000 USD
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
3347000 USD
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
4199000 USD
CY2020Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1807000 USD
CY2020Q3 us-gaap Sublease Income
SubleaseIncome
205000 USD
CY2020Q3 us-gaap Lease Cost
LeaseCost
9148000 USD
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
3096000 USD
CY2020Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
26017000 USD
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.038 pure
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
10560000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
13697000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
13369000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
12819000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
10529000 USD
CY2020Q3 flws Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
52026000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
113000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
19060000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
93940000 USD

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