2024 Q4 Form 10-Q Financial Statement

#000182087224000048 Filed on November 05, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q4
Revenue $597.0M $549.0M
YoY Change 4.55% 4.17%
Cost Of Revenue $238.0M
YoY Change -2.06%
Gross Profit $311.0M
YoY Change 9.51%
Gross Profit Margin 56.65%
Selling, General & Admin $174.0M $259.0M
YoY Change -0.57% -4.78%
% of Gross Profit 83.28%
Research & Development $112.0M
YoY Change 10.89%
% of Gross Profit
Depreciation & Amortization $49.00M
YoY Change 2.08%
% of Gross Profit 15.76%
Operating Expenses $570.0M $308.0M
YoY Change -0.87% -3.75%
Operating Profit $27.00M $3.000M
YoY Change -775.0% -108.33%
Interest Expense -$46.00M
YoY Change -9.8%
% of Operating Profit -1533.33%
Other Income/Expense, Net -$15.00M $0.00
YoY Change 66.67% -100.0%
Pretax Income -$74.00M -$43.00M
YoY Change 640.0% -49.41%
Income Tax $54.00M $3.000M
% Of Pretax Income
Net Earnings -$128.0M -$47.00M
YoY Change 1500.0% 80.77%
Net Earnings / Revenue -21.44% -8.56%
Basic Earnings Per Share -$0.28
Diluted Earnings Per Share -$0.28 -$0.10
COMMON SHARES
Basic Shares Outstanding 470.5M shares 473.3M shares 467.0M shares
Diluted Shares Outstanding 462.3M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $476.0M
YoY Change 57.1%
Cash & Equivalents $524.0M $476.0M
Short-Term Investments
Other Short-Term Assets $94.00M
YoY Change -27.69%
Inventory
Prepaid Expenses
Receivables $691.0M $726.0M
Other Receivables $44.00M $42.00M
Total Short-Term Assets $1.394B $1.360B
YoY Change -5.11% 10.21%
LONG-TERM ASSETS
Property, Plant & Equipment $232.0M $282.0M
YoY Change 1.75% 2.17%
Goodwill $1.236B $1.212B
YoY Change 3.87% 2.02%
Intangibles $500.0M $552.0M
YoY Change -12.28% -13.21%
Long-Term Investments $14.00M $14.00M
YoY Change 7.69% 0.0%
Other Assets $61.00M $50.00M
YoY Change 0.0% -86.84%
Total Long-Term Assets $2.358B $2.391B
YoY Change -2.2% -4.13%
TOTAL ASSETS
Total Short-Term Assets $1.394B $1.360B
Total Long-Term Assets $2.358B $2.391B
Total Assets $3.752B $3.751B
YoY Change -3.3% 0.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $330.0M $302.0M
YoY Change -14.29% 19.37%
Accrued Expenses $391.0M
YoY Change -16.63%
Deferred Revenue $35.00M $19.00M
YoY Change 52.17% 0.0%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $16.00M $7.000M
YoY Change 166.67% 133.33%
Total Short-Term Liabilities $892.0M $831.0M
YoY Change -3.36% 7.5%
LONG-TERM LIABILITIES
Long-Term Debt $1.368B $1.355B
YoY Change 1.11% 11.16%
Other Long-Term Liabilities $47.00M $33.00M
YoY Change 20.51% -90.32%
Total Long-Term Liabilities $1.415B $1.388B
YoY Change 1.65% -11.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $892.0M $831.0M
Total Long-Term Liabilities $1.415B $1.388B
Total Liabilities $2.646B $2.539B
YoY Change 0.8% -29.0%
SHAREHOLDERS EQUITY
Retained Earnings -$1.559B -$1.437B
YoY Change 12.16% 721.14%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $55.00M $0.00
YoY Change
Treasury Stock Shares
Shareholders Equity $1.101B $1.208B
YoY Change
Total Liabilities & Shareholders Equity $3.752B $3.751B
YoY Change -3.3% 0.62%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q4
OPERATING ACTIVITIES
Net Income -$128.0M -$47.00M
YoY Change 1500.0% 80.77%
Depreciation, Depletion And Amortization $49.00M
YoY Change 2.08%
Cash From Operating Activities $58.00M
YoY Change -1550.0%
INVESTING ACTIVITIES
Capital Expenditures $26.00M
YoY Change 23.81%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$26.00M
YoY Change 18.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.000M
YoY Change 0.0%
NET CHANGE
Cash From Operating Activities 58.00M
Cash From Investing Activities -26.00M
Cash From Financing Activities -1.000M
Net Change In Cash 31.00M
YoY Change -214.81%
FREE CASH FLOW
Cash From Operating Activities $58.00M
Capital Expenditures $26.00M
Free Cash Flow $32.00M
YoY Change -228.0%

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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with U.S. GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, supplier revenue, allowance for credit losses, depreciable lives of property and equipment, acquisition purchase price allocations including valuation of acquired intangible assets and goodwill and contingent consideration, valuation of operating lease right-of-use (“ROU”) assets, impairment of goodwill, other intangible assets, long-lived assets, capitalized client incentives and investments in equity method investments, valuation allowances on deferred income taxes, valuation of pensions, interest rate swaps, cross currency interest rate swaps, earnout shares and contingent liabilities. Actual results could differ materially from those estimates.</span></div>
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us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-8000000 usd
gbtg Incremental Common Shares Attributable To Dilutive Effect Of Conversion Of Common Stock
IncrementalCommonSharesAttributableToDilutiveEffectOfConversionOfCommonStock
274524584 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
462763170 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
456300045 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.28
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.20
CY2024Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-20000000 usd
CY2023Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
41000000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-8000000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
29000000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
4000000 usd
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.20
CY2024Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-20000000 usd
CY2023Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
41000000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-8000000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
29000000 usd
CY2024Q3 gbtg Cost Of Revenue Excluding Depreciation And Amortization
CostOfRevenueExcludingDepreciationAndAmortization
237000000 usd
CY2024Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
99000000 usd
CY2024Q3 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
112000000 usd
CY2024Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
75000000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-38000000 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
99000000 usd
CY2024Q3 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
112000000 usd
CY2024Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
75000000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-38000000 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 gbtg Cost Of Revenue Excluding Depreciation And Amortization
CostOfRevenueExcludingDepreciationAndAmortization
237000000 usd
CY2024Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
99000000 usd
CY2024Q3 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
112000000 usd
CY2024Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
75000000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-38000000 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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