2024 Q1 Form 10-K Financial Statement

#000095017024023050 Filed on February 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $61.08M $60.56M $216.4M
YoY Change 17.38% 17.58% 19.3%
Cost Of Revenue $12.19M $15.44M $43.60M
YoY Change 36.83% 61.9% 34.33%
Gross Profit $48.90M $45.12M $172.8M
YoY Change 13.37% 7.51% 16.02%
Gross Profit Margin 80.05% 74.51% 79.85%
Selling, General & Admin $54.22M $48.25M $180.0M
YoY Change 23.72% 8.51% 12.99%
% of Gross Profit 110.88% 106.93% 104.18%
Research & Development $7.584M $8.102M $30.08M
YoY Change 7.59% 23.69% 22.02%
% of Gross Profit 15.51% 17.96% 17.41%
Depreciation & Amortization $4.258M $4.940M $15.54M
YoY Change 36.61% 20.37% 13.21%
% of Gross Profit 8.71% 10.95% 8.99%
Operating Expenses $61.80M $56.35M $210.1M
YoY Change 21.49% 10.46% -0.41%
Operating Profit -$12.90M -$11.23M -$37.31M
YoY Change 66.73% 24.16% -39.87%
Interest Expense -$2.622M -$2.038M -$5.165M
YoY Change 117.59% 61.23% 25.09%
% of Operating Profit
Other Income/Expense, Net -$2.107M -$860.0K -$10.32M
YoY Change 52.24% -52.85% 93.13%
Pretax Income -$15.01M -$19.44M -$47.63M
YoY Change 64.53% -50.33% -29.32%
Income Tax $224.0K $123.0K $213.0K
% Of Pretax Income
Net Earnings -$15.23M -$19.56M -$47.84M
YoY Change 68.29% -49.54% -28.94%
Net Earnings / Revenue -24.94% -32.3% -22.11%
Basic Earnings Per Share -$0.18 -$0.58
Diluted Earnings Per Share -$0.18 -$0.24 -$0.58
COMMON SHARES
Basic Shares Outstanding 82.84M 82.70M 82.09M
Diluted Shares Outstanding 82.85M 82.09M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $58.22M $75.64M $75.64M
YoY Change -32.21% 96.63% 96.63%
Cash & Equivalents $58.22M $75.64M
Short-Term Investments
Other Short-Term Assets $4.013M $3.997M $3.997M
YoY Change -3.7% -14.19% -14.19%
Inventory $104.3M $98.06M $98.06M
Prepaid Expenses
Receivables $40.26M $37.32M $37.32M
Other Receivables $597.0K $794.0K $794.0K
Total Short-Term Assets $207.4M $215.8M $215.8M
YoY Change 5.23% 51.58% 51.58%
LONG-TERM ASSETS
Property, Plant & Equipment $75.70M $74.12M $74.12M
YoY Change 13.31% 19.67% 19.67%
Goodwill $25.47M $25.47M
YoY Change 0.0% 0.0%
Intangibles $21.46M $21.67M
YoY Change -3.07% -3.18%
Long-Term Investments
YoY Change
Other Assets $4.590M $3.623M $3.623M
YoY Change 123.79% 86.46% 86.46%
Total Long-Term Assets $127.2M $124.9M $124.9M
YoY Change 9.22% 11.77% 11.77%
TOTAL ASSETS
Total Short-Term Assets $207.4M $215.8M $215.8M
Total Long-Term Assets $127.2M $124.9M $124.9M
Total Assets $334.6M $340.7M $340.7M
YoY Change 6.71% 34.08% 34.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.22M $21.70M $21.70M
YoY Change 42.29% 45.23% 45.23%
Accrued Expenses $26.82M $27.78M $27.78M
YoY Change 5.41% 3.63% -43.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $640.0K $640.0K $640.0K
YoY Change -7.25% -12.09% -12.09%
Total Short-Term Liabilities $58.05M $51.24M $51.24M
YoY Change -8.81% -25.19% -25.19%
LONG-TERM LIABILITIES
Long-Term Debt $109.8M $109.8M $109.8M
YoY Change 160.28% 160.3% 160.3%
Other Long-Term Liabilities $1.356M $1.048M $1.683M
YoY Change -10.97% -35.63% -21.9%
Total Long-Term Liabilities $111.2M $110.8M $111.5M
YoY Change 154.31% 153.02% 151.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $58.05M $51.24M $51.24M
Total Long-Term Liabilities $111.2M $110.8M $111.5M
Total Liabilities $170.1M $163.0M $163.0M
YoY Change 56.95% 43.98% 43.98%
SHAREHOLDERS EQUITY
Retained Earnings -$130.9M -$115.6M
YoY Change 70.3% 70.57%
Common Stock $302.3M $299.2M
YoY Change 4.92% 39.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $164.5M $177.7M $177.7M
YoY Change
Total Liabilities & Shareholders Equity $334.6M $340.7M $340.7M
YoY Change 6.71% 34.08% 34.08%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$15.23M -$19.56M -$47.84M
YoY Change 68.29% -49.54% -28.94%
Depreciation, Depletion And Amortization $4.258M $4.940M $15.54M
YoY Change 36.61% 20.37% 13.21%
Cash From Operating Activities -$10.99M -$16.37M -$63.89M
YoY Change -21.81% 23.75% 29.91%
INVESTING ACTIVITIES
Capital Expenditures $6.070M $5.204M $28.03M
YoY Change -19.29% -147.87% 13.09%
Acquisitions
YoY Change
Other Investing Activities $292.0K $248.0K $1.043M
YoY Change 30.94% -2.75% -105.92%
Cash From Investing Activities -$5.778M -$4.956M -$26.99M
YoY Change -23.49% -144.54% -55.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $68.45M
YoY Change
Debt Paid & Issued, Net $160.0K $30.73M
YoY Change -18.78% 5290.7%
Cash From Financing Activities -1.262M 63.17M 128.7M
YoY Change -101.82% 2377.37% 225.81%
NET CHANGE
Cash From Operating Activities -10.99M -16.37M -63.89M
Cash From Investing Activities -5.778M -4.956M -26.99M
Cash From Financing Activities -1.262M 63.17M 128.7M
Net Change In Cash -17.42M 41.84M 37.17M
YoY Change -136.73% 9303.15% -152.44%
FREE CASH FLOW
Cash From Operating Activities -$10.99M -$16.37M -$63.89M
Capital Expenditures $6.070M $5.204M $28.03M
Free Cash Flow -$17.06M -$21.58M -$91.92M
YoY Change -20.94% 814.28% 24.27%

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CY2023 us-gaap Description Of Defined Contribution Pension And Other Postretirement Plans
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