2024 Q3 Form 10-Q Financial Statement

#000163642224000120 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $76.35M $75.90M
YoY Change 3.5% 3.67%
Cost Of Revenue $42.12M $39.84M
YoY Change 1.17% 1.46%
Gross Profit $34.24M $36.06M
YoY Change 6.49% 6.23%
Gross Profit Margin 44.84% 47.51%
Selling, General & Admin $23.55M $27.11M
YoY Change -17.97% -10.68%
% of Gross Profit 68.79% 75.17%
Research & Development $14.19M $13.88M
YoY Change -19.66% -20.18%
% of Gross Profit 41.45% 38.5%
Depreciation & Amortization $3.100M $3.100M
YoY Change 0.0% -71.12%
% of Gross Profit 9.05% 8.6%
Operating Expenses $47.73M $51.65M
YoY Change -15.63% -11.68%
Operating Profit -$13.69M -$15.81M
YoY Change -44.32% -35.57%
Interest Expense -$1.514M $2.377M
YoY Change -157.35% 14.06%
% of Operating Profit
Other Income/Expense, Net -$123.0K -$16.00K
YoY Change 310.0% -366.67%
Pretax Income -$15.20M -$13.45M
YoY Change -30.81% -58.66%
Income Tax -$475.0K $70.00K
% Of Pretax Income
Net Earnings -$14.73M -$13.52M
YoY Change -33.16% -58.56%
Net Earnings / Revenue -19.29% -17.81%
Basic Earnings Per Share -$0.24 -$0.23
Diluted Earnings Per Share -$0.24 -$0.23
COMMON SHARES
Basic Shares Outstanding 60.47M shares 59.03M shares
Diluted Shares Outstanding 60.44M shares 59.30M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $387.3M $308.3M
YoY Change 11.38% -10.35%
Cash & Equivalents $328.3M $201.9M
Short-Term Investments $58.93M $106.4M
Other Short-Term Assets $18.51M $12.91M
YoY Change 25.92% -12.42%
Inventory
Prepaid Expenses
Receivables $51.65M $54.90M
Other Receivables $0.00 $0.00
Total Short-Term Assets $457.4M $376.1M
YoY Change 11.99% -8.49%
LONG-TERM ASSETS
Property, Plant & Equipment $27.91M $25.56M
YoY Change 6.94% -38.93%
Goodwill $234.4M $206.3M
YoY Change 26.03% 10.92%
Intangibles $76.46M $66.76M
YoY Change 6.2% -15.53%
Long-Term Investments
YoY Change
Other Assets $5.656M $5.413M
YoY Change 10.56% 6.49%
Total Long-Term Assets $355.6M $315.7M
YoY Change 16.81% 1.19%
TOTAL ASSETS
Total Short-Term Assets $457.4M $376.1M
Total Long-Term Assets $355.6M $315.7M
Total Assets $813.1M $691.7M
YoY Change 14.05% -4.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.28M $10.60M
YoY Change 125.67% 32.92%
Accrued Expenses $26.88M $21.38M
YoY Change 7.94% 11.03%
Deferred Revenue $52.20M $56.36M
YoY Change -1.63% -5.33%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $230.4M $228.8M
YoY Change
Total Short-Term Liabilities $323.8M $318.0M
YoY Change 284.29% 266.56%
LONG-TERM LIABILITIES
Long-Term Debt $114.6M $0.00
YoY Change -49.66% -100.0%
Other Long-Term Liabilities $3.395M $103.0K
YoY Change 4550.68% -99.46%
Total Long-Term Liabilities $118.0M $103.0K
YoY Change -48.18% -99.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $323.8M $318.0M
Total Long-Term Liabilities $118.0M $103.0K
Total Liabilities $458.0M $334.7M
YoY Change 38.57% 0.51%
SHAREHOLDERS EQUITY
Retained Earnings -$1.166B -$1.151B
YoY Change 7.28% 8.12%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $355.0M $357.0M
YoY Change
Total Liabilities & Shareholders Equity $813.1M $691.7M
YoY Change 14.05% -4.31%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$14.73M -$13.52M
YoY Change -33.16% -58.56%
Depreciation, Depletion And Amortization $3.100M $3.100M
YoY Change 0.0% -71.12%
Cash From Operating Activities $6.208M $1.612M
YoY Change 99.61% -113.93%
INVESTING ACTIVITIES
Capital Expenditures $4.415M $4.328M
YoY Change 41.96% -9.87%
Acquisitions
YoY Change
Other Investing Activities $12.06M $2.545M
YoY Change -155.45% -197.4%
Cash From Investing Activities $7.646M -$1.783M
YoY Change -130.77% -75.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 112.5M 698.0K
YoY Change 10716.83% -41.93%
NET CHANGE
Cash From Operating Activities 6.208M 1.612M
Cash From Investing Activities 7.646M -1.783M
Cash From Financing Activities 112.5M 698.0K
Net Change In Cash 126.3M 527.0K
YoY Change -710.38% -102.96%
FREE CASH FLOW
Cash From Operating Activities $6.208M $1.612M
Capital Expenditures $4.415M $4.328M
Free Cash Flow $1.793M -$2.716M
YoY Change -96260954521600050.0% -83.41%

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us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
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DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
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hcat Capitalized Internal Use Software In Accounts Payable And Accrued Liabilities
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CapitalizedInternalUseSoftwareInAccountsPayableAndAccruedLiabilities
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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AllowanceForDoubtfulAccountsReceivableWriteOffs
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FiniteLivedIntangibleAssetsGross
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CY2024Q2 us-gaap Capitalized Computer Software Additions
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us-gaap Capitalized Computer Software Additions
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us-gaap Capitalized Computer Software Additions
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CY2024Q2 us-gaap Capitalized Computer Software Amortization1
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us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
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us-gaap Capitalized Computer Software Amortization1
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CY2024Q2 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
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CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2024Q2 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
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CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
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CY2023Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
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CY2024Q2 us-gaap Interest Receivable
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InterestReceivable
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CY2024Q2 hcat Accrued Liabilities And Employee Related Liabilities Current
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us-gaap Operating Lease Cost
OperatingLeaseCost
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us-gaap Operating Lease Cost
OperatingLeaseCost
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ShortTermLeaseCost
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CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
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us-gaap Short Term Lease Cost
ShortTermLeaseCost
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us-gaap Short Term Lease Cost
ShortTermLeaseCost
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CY2024Q2 us-gaap Sublease Income
SubleaseIncome
339000 usd
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
189000 usd
us-gaap Sublease Income
SubleaseIncome
654000 usd
us-gaap Sublease Income
SubleaseIncome
627000 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
358000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
613000 usd
us-gaap Lease Cost
LeaseCost
704000 usd
us-gaap Lease Cost
LeaseCost
988000 usd
CY2024Q2 us-gaap Shares Issued
SharesIssued
60075178 shares
CY2024Q2 us-gaap Shares Outstanding
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60075178 shares
CY2023Q4 us-gaap Shares Issued
SharesIssued
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CY2023Q4 us-gaap Shares Outstanding
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CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q2 us-gaap Earnings Per Share Diluted
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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14031923 shares
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8966000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14629000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19804000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28513000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8966000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14629000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1396452 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.70
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
20764 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
6.26
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
293787 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
9.72
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1081901 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.93
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y6M
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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1081901 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
11.93
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P3Y6M
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
0 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1081901 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
11.93
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y6M
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 usd
us-gaap Effective Income Tax Rate Continuing Operations
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-0.005
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2023Q2 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
9600000 usd
us-gaap Litigation Settlement Expense
LitigationSettlementExpense
21300000 usd
CY2024Q2 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
0 usd
us-gaap Litigation Settlement Expense
LitigationSettlementExpense
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CY2024Q2 hcat Contract With Customer Liability Revenue Recognized Percentage
ContractWithCustomerLiabilityRevenueRecognizedPercentage
0.44
CY2023Q2 hcat Contract With Customer Liability Revenue Recognized Percentage
ContractWithCustomerLiabilityRevenueRecognizedPercentage
0.50
hcat Contract With Customer Liability Revenue Recognized Percentage
ContractWithCustomerLiabilityRevenueRecognizedPercentage
0.28
hcat Contract With Customer Liability Revenue Recognized Percentage
ContractWithCustomerLiabilityRevenueRecognizedPercentage
0.30
CY2024Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
310400000 usd
CY2024Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.65
CY2024Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P24M
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
75902000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
73213000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
150625000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
147081000 usd
CY2024Q2 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
-13446000 usd
CY2023Q2 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
-32528000 usd
us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
-33920000 usd
us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
-65649000 usd
us-gaap Severance Costs1
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2088000 usd
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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