2022 Q1 Form 10-Q Financial Statement

#000182249222000071 Filed on May 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $363.0M $341.3M
YoY Change 6.37% 15.36%
Cost Of Revenue $213.3M $201.3M
YoY Change 5.95% 20.96%
Gross Profit $149.7M $140.0M
YoY Change 6.97% 8.16%
Gross Profit Margin 41.25% 41.02%
Selling, General & Admin $114.5M $103.2M
YoY Change 11.01% 14.96%
% of Gross Profit 76.49% 73.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $28.78M $31.25M
YoY Change -7.92% -3.45%
% of Gross Profit 19.22% 22.32%
Operating Expenses $114.5M $103.2M
YoY Change 11.01% -14.0%
Operating Profit $8.849M $5.780M
YoY Change 53.1% -38.81%
Interest Expense -$11.63M -$21.40M
YoY Change -45.67% -24.87%
% of Operating Profit -131.4% -370.29%
Other Income/Expense, Net
YoY Change
Pretax Income -$2.779M -$15.62M
YoY Change -82.21% -17.95%
Income Tax -$892.0K -$6.653M
% Of Pretax Income
Net Earnings -$1.887M -$8.970M
YoY Change -78.96% -39.41%
Net Earnings / Revenue -0.52% -2.63%
Basic Earnings Per Share -$0.01 -$0.10
Diluted Earnings Per Share -$0.01 -$0.10
COMMON SHARES
Basic Shares Outstanding 194.0M shares 91.18M shares
Diluted Shares Outstanding 194.0M shares 91.18M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.38M $510.9K
YoY Change 3692.62%
Cash & Equivalents $19.38M $13.91M
Short-Term Investments
Other Short-Term Assets $17.40M $119.7K
YoY Change 14430.57%
Inventory $565.7M
Prepaid Expenses
Receivables $130.5M
Other Receivables $0.00
Total Short-Term Assets $733.0M $630.6K
YoY Change 116142.19%
LONG-TERM ASSETS
Property, Plant & Equipment $173.4M
YoY Change
Goodwill $826.1M
YoY Change
Intangibles $782.3M
YoY Change
Long-Term Investments $500.0M
YoY Change
Other Assets $24.28M $0.00
YoY Change
Total Long-Term Assets $1.887B $500.0M
YoY Change 277.38%
TOTAL ASSETS
Total Short-Term Assets $733.0M $630.6K
Total Long-Term Assets $1.887B $500.0M
Total Assets $2.620B $500.7M
YoY Change 423.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $196.9M $72.32K
YoY Change 272180.14%
Accrued Expenses $81.20M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $11.75M
YoY Change
Total Short-Term Liabilities $295.0M $72.32K
YoY Change 407874.28%
LONG-TERM LIABILITIES
Long-Term Debt $932.6M $0.00
YoY Change
Other Long-Term Liabilities $14.39M $62.01M
YoY Change -76.8%
Total Long-Term Liabilities $947.0M $62.01M
YoY Change 1427.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $295.0M $72.32K
Total Long-Term Liabilities $947.0M $62.01M
Total Liabilities $1.454B $62.08M
YoY Change 2241.45%
SHAREHOLDERS EQUITY
Retained Earnings -$212.1M
YoY Change
Common Stock $20.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.166B $361.5M
YoY Change
Total Liabilities & Shareholders Equity $2.620B $500.7M
YoY Change 423.31%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$1.887M -$8.970M
YoY Change -78.96% -39.41%
Depreciation, Depletion And Amortization $28.78M $31.25M
YoY Change -7.92% -3.45%
Cash From Operating Activities -$3.580M -$45.39M
YoY Change -92.11%
INVESTING ACTIVITIES
Capital Expenditures -$12.54M
YoY Change
Acquisitions $2.500M $0.00
YoY Change
Other Investing Activities -$2.500M $71.39K
YoY Change -3601.89%
Cash From Investing Activities -$15.04M -$9.077M
YoY Change 65.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $24.47M $46.76M
YoY Change -47.66%
NET CHANGE
Cash From Operating Activities -$3.580M -$45.39M
Cash From Investing Activities -$15.04M -$9.077M
Cash From Financing Activities $24.47M $46.76M
Net Change In Cash $4.770M -$7.608M
YoY Change -162.7%
FREE CASH FLOW
Cash From Operating Activities -$3.580M -$45.39M
Capital Expenditures -$12.54M
Free Cash Flow $8.961M
YoY Change

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<div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Use of Estimates in the Preparation of Financial Statements:</span></div><div style="margin-top:9pt"><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. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses for the reporting periods. Actual results may differ from these estimates.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The extent to which COVID-19 impacts the Company’s business and financial results will depend on numerous evolving factors including, but not limited to: the magnitude and duration of COVID-19, the extent to which it will impact worldwide macroeconomic conditions including interest rates, employment rates and health insurance coverage, the speed of the anticipated recovery, and governmental and business reactions to the pandemic. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts COVID-19 as of March 26, 2022 and through the date of this</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">report. The accounting matters assessed included, but were not limited to the carrying value of the goodwill and other long-lived assets. While there was not a material impact to the Company’s Condensed Consolidated Financial Statements for the </span></div>thirteen weeks ended March 26, 2022, the Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material impacts to the Company’s Condensed Consolidated Financial Statements in future reporting periods.
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us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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CY2022Q1 us-gaap Finance Lease Interest Payment On Liability
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CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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5780000 USD

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