2021 Q1 Form 10-Q Financial Statement

#000157419721000022 Filed on May 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $13.18M $9.220M
YoY Change 42.95% -29.47%
Cost Of Revenue $12.40M $8.000M
YoY Change 55.0% -15.79%
Gross Profit $800.0K $1.200M
YoY Change -33.33% -66.67%
Gross Profit Margin 6.07% 13.02%
Selling, General & Admin $19.54M $24.63M
YoY Change -20.66% -4.45%
% of Gross Profit 2442.25% 2052.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.252M $3.711M
YoY Change 149.31% -33.47%
% of Gross Profit 1156.5% 309.25%
Operating Expenses $19.54M $24.63M
YoY Change -20.66% -4.45%
Operating Profit -$18.74M -$23.43M
YoY Change -20.01% 5.65%
Interest Expense -$3.500M -$29.90M
YoY Change -88.29% -364.6%
% of Operating Profit
Other Income/Expense, Net $1.231M $1.094M
YoY Change 12.52% -98.38%
Pretax Income -$21.00M -$53.20M
YoY Change -60.53% -198.52%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$9.779M -$24.81M
YoY Change -60.58% -204.19%
Net Earnings / Revenue -74.2% -269.05%
Basic Earnings Per Share
Diluted Earnings Per Share -$66.89K -$170.0K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $229.7M $247.8M
YoY Change -7.3% -33.62%
Cash & Equivalents $229.7M $247.8M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $2.043B $1.959B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.273B $2.207B
YoY Change 3.01% 4.21%
LONG-TERM ASSETS
Property, Plant & Equipment $32.45M $33.07M
YoY Change -1.87% 1.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $439.2M $501.9M
YoY Change -12.49% -7.11%
Other Assets $1.300M $1.700M
YoY Change -23.53% 0.0%
Total Long-Term Assets $662.1M $730.7M
YoY Change -9.39% -4.85%
TOTAL ASSETS
Total Short-Term Assets $2.273B $2.207B
Total Long-Term Assets $662.1M $730.7M
Total Assets $2.935B $2.937B
YoY Change -0.08% 1.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $136.3M $151.3M
YoY Change -9.91% 7.46%
Accrued Expenses $22.90M $26.40M
YoY Change -13.26% -9.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $331.9M $350.9M
YoY Change -5.41% 2.81%
LONG-TERM LIABILITIES
Long-Term Debt $695.8M $718.3M
YoY Change -3.13% 20.74%
Other Long-Term Liabilities $9.000M $9.100M
YoY Change -1.1% -4.21%
Total Long-Term Liabilities $704.8M $727.4M
YoY Change -3.11% 20.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $331.9M $350.9M
Total Long-Term Liabilities $704.8M $727.4M
Total Liabilities $1.049B $1.090B
YoY Change -3.74% 13.99%
SHAREHOLDERS EQUITY
Retained Earnings $32.44M $17.84M
YoY Change 81.82% -69.03%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $606.5M $584.9M
YoY Change
Total Liabilities & Shareholders Equity $2.935B $2.937B
YoY Change -0.08% 1.8%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$9.779M -$24.81M
YoY Change -60.58% -204.19%
Depreciation, Depletion And Amortization $9.252M $3.711M
YoY Change 149.31% -33.47%
Cash From Operating Activities -$52.50M -$89.43M
YoY Change -41.3% 6.9%
INVESTING ACTIVITIES
Capital Expenditures $103.0K $704.0K
YoY Change -85.37% -41.14%
Acquisitions
YoY Change
Other Investing Activities $60.00K $1.720M
YoY Change -96.51% 17.81%
Cash From Investing Activities -$48.00K $1.017M
YoY Change -104.72% 280.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$15.93M -$10.67M
YoY Change 49.31% -72.42%
NET CHANGE
Cash From Operating Activities -$52.50M -$89.43M
Cash From Investing Activities -$48.00K $1.017M
Cash From Financing Activities -$15.93M -$10.67M
Net Change In Cash -$68.47M -$99.08M
YoY Change -30.89% -18.83%
FREE CASH FLOW
Cash From Operating Activities -$52.50M -$89.43M
Capital Expenditures $103.0K $704.0K
Free Cash Flow -$52.60M -$90.13M
YoY Change -41.64% 6.23%

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4568000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-68474000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-99078000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
299474000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
231000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
249496000 USD
CY2021Q1 fph Common Stock Numberof Votesfor Each Share Owned
CommonStockNumberofVotesforEachShareOwned
1 vote
CY2021Q1 fph Numberof Votes Management
NumberofVotesManagement
5 vote
CY2021Q1 fph Percentageof Voting Members Required For Approval
PercentageofVotingMembersRequiredForApproval
0.75
CY2021Q1 fph Numberof Votes Company
NumberofVotesCompany
2 vote
CY2021Q1 fph Numberof Voting Members
NumberofVotingMembers
3 member
CY2021Q1 fph Numberof Votes Each Memberof Company
NumberofVotesEachMemberofCompany
1 vote
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12757000 USD
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Management evaluates its estimates on an ongoing basis and makes revisions to these estimates and related disclosures as experience develops or new information becomes known. Actual results could differ from those estimates.</span>
CY2021Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-134000 USD
CY2020Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-88000 USD
CY2021Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1204000 USD
CY2020Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
88000 USD
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
85100000 USD
CY2020Q1 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
2700000 USD
CY2021Q1 us-gaap Revenues
Revenues
13180000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8933000 USD
CY2020Q1 us-gaap Revenues
Revenues
9220000 USD
CY2021Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
91500000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
73000000.0 USD
CY2020Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
75700000 USD
CY2021Q1 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
6400000 USD
CY2021Q1 us-gaap Area Of Land
AreaOfLand
73 acre
CY2021Q1 fph Numberof Buildings
NumberofBuildings
4 building
CY2021Q1 fph Area Of Campus
AreaOfCampus
1000000 sqft
CY2021Q1 fph Numberof Buildings
NumberofBuildings
4 building
CY2021Q1 fph Noncontrolling Interest Stockholders Right To Exchange Holding Period
NoncontrollingInterestStockholdersRightToExchangeHoldingPeriod
P12M
CY2021Q1 fph Noncontrolling Interest Stockholders Rightto Exchange Conversion Ratio
NoncontrollingInterestStockholdersRighttoExchangeConversionRatio
1
CY2021Q1 us-gaap Redeemable Noncontrolling Interest Equity Common Redemption Value
RedeemableNoncontrollingInterestEquityCommonRedemptionValue
25000000.0 USD
CY2020Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Redemption Value
RedeemableNoncontrollingInterestEquityCommonRedemptionValue
25000000.0 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
129705000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
129705000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
65804000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
57958000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
63901000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
71747000 USD
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7800000 USD
CY2020Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2400000 USD
CY2021Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
7157000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
7419000 USD
CY2021Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
617843000 USD
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
617581000 USD
CY2021Q1 fph Tax Receivable Agreement Liability Noncurrent
TaxReceivableAgreementLiabilityNoncurrent
172700000 USD
CY2020Q4 fph Tax Receivable Agreement Liability Noncurrent
TaxReceivableAgreementLiabilityNoncurrent
173200000 USD
CY2020Q1 fph Aggregate Paymentsfor Contractual Obligation
AggregatePaymentsforContractualObligation
0 USD
CY2021Q1 fph Aggregate Paymentsfor Contractual Obligation
AggregatePaymentsforContractualObligation
0 USD
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
27171000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
28276000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
22874000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
23831000 USD
CY2021Q1 fph Monetary Payments Subjectto Guaranty Remaining Estimated Amount Maximum
MonetaryPaymentsSubjecttoGuarantyRemainingEstimatedAmountMaximum
20400000 USD
CY2021Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
1300000 USD
CY2020Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
1300000 USD
CY2021Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
770000 USD
CY2021Q1 fph Interest Paid Capitalized Operating Activities
InterestPaidCapitalizedOperatingActivities
919000 USD
CY2020Q1 fph Interest Paid Capitalized Operating Activities
InterestPaidCapitalizedOperatingActivities
1049000 USD
CY2021Q1 fph Recognitionof Tax Receivable Agreement Liability
RecognitionofTaxReceivableAgreementLiability
-522000 USD
CY2020Q1 fph Recognitionof Tax Receivable Agreement Liability
RecognitionofTaxReceivableAgreementLiability
615000 USD
CY2020Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
33000 USD
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
627000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
229670000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
247754000 USD
CY2021Q1 us-gaap Restricted Cash And Investments
RestrictedCashAndInvestments
1330000 USD
CY2020Q1 us-gaap Restricted Cash And Investments
RestrictedCashAndInvestments
1742000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
231000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
249496000 USD
CY2021Q1 fph Square Footage Of Building
SquareFootageOfBuilding
189000 sqft
CY2021Q1 fph Numberof Buildings
NumberofBuildings
4 building
CY2021Q1 us-gaap Revenues
Revenues
13180000 USD
CY2020Q1 us-gaap Revenues
Revenues
9220000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
-21045000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-53219000 USD
CY2021Q1 us-gaap Assets
Assets
2935211000 USD
CY2020Q4 us-gaap Assets
Assets
2961985000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1300000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3000000.0 USD
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
6100000 USD
CY2021Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
128000 USD
CY2020Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
164000 USD
CY2021Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
290000 USD
CY2020Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
276000 USD
CY2021Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-28000 USD
CY2020Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-24000 USD
CY2021Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-134000 USD
CY2020Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-88000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-21000000.0 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-53200000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-9779000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-24806000 USD
CY2021Q1 fph Adjustmentsto Net Income Loss Attributableto Parent
AdjustmentstoNetIncomeLossAttributabletoParent
-113000 USD
CY2020Q1 fph Adjustmentsto Net Income Loss Attributableto Parent
AdjustmentstoNetIncomeLossAttributabletoParent
-487000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9666000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-24319000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9666000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-24319000 USD
CY2021Q1 fph Reallocationof Income Lossto Parent Upon Assumed Exchangeof Common Units Diluted
ReallocationofIncomeLosstoParentUponAssumedExchangeofCommonUnitsDiluted
0 USD
CY2020Q1 fph Reallocationof Income Lossto Parent Upon Assumed Exchangeof Common Units Diluted
ReallocationofIncomeLosstoParentUponAssumedExchangeofCommonUnitsDiluted
-954000 USD
CY2021Q1 fph Allocation Of Net Income Loss To Common Stockholders Diluted
AllocationOfNetIncomeLossToCommonStockholdersDiluted
9666000 USD
CY2020Q1 fph Allocation Of Net Income Loss To Common Stockholders Diluted
AllocationOfNetIncomeLossToCommonStockholdersDiluted
25273000 USD
CY2021Q1 us-gaap Aoci Tax Attributable To Parent
AociTaxAttributableToParent
-700000 USD
CY2020Q4 us-gaap Aoci Tax Attributable To Parent
AociTaxAttributableToParent
-700000 USD

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