2023 Q1 Form 10-K Financial Statement

#000142833623000014 Filed on March 30, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2023
Revenue $233.8M $861.7M
YoY Change 15.02% 13.9%
Cost Of Revenue $99.59M $371.7M
YoY Change 1.63% 11.66%
Gross Profit $134.2M $490.1M
YoY Change 27.49% 15.67%
Gross Profit Margin 57.41% 56.87%
Selling, General & Admin $40.03M $164.5M
YoY Change 7.64% 15.03%
% of Gross Profit 29.82% 33.56%
Research & Development $52.72M $193.4M
YoY Change 14.8% 22.88%
% of Gross Profit 39.27% 39.46%
Depreciation & Amortization $40.47M $161.2M
YoY Change 4.25% 17.5%
% of Gross Profit 30.15% 32.89%
Operating Expenses $115.9M $452.4M
YoY Change 9.19% 1.0%
Operating Profit $18.33M $37.65M
YoY Change -2213.73% -255.35%
Interest Expense -$14.31M -$48.42M
YoY Change 34.31% -232.41%
% of Operating Profit -78.06% -128.61%
Other Income/Expense, Net $1.097M $1.271M
YoY Change 2050.98% -102.99%
Pretax Income $8.000K -$38.10M
YoY Change -100.02% -42.92%
Income Tax $217.0K -$11.95M
% Of Pretax Income 2712.5%
Net Earnings -$209.0K -$26.14M
YoY Change -99.36% -40.97%
Net Earnings / Revenue -0.09% -3.03%
Basic Earnings Per Share -$0.31
Diluted Earnings Per Share $0.00 -$0.31
COMMON SHARES
Basic Shares Outstanding 84.78M shares 84.44M shares
Diluted Shares Outstanding 84.44M shares

Balance Sheet

Concept 2023 Q1 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $254.3M $254.3M
YoY Change 12.8% 12.8%
Cash & Equivalents $254.3M $254.3M
Short-Term Investments
Other Short-Term Assets $31.79M $31.79M
YoY Change -17.41% -17.41%
Inventory
Prepaid Expenses
Receivables $96.84M $96.84M
Other Receivables $0.00 $0.00
Total Short-Term Assets $382.9M $382.9M
YoY Change 8.98% 8.98%
LONG-TERM ASSETS
Property, Plant & Equipment $69.32M $69.32M
YoY Change 196.61% -20.3%
Goodwill $1.648B
YoY Change 0.14%
Intangibles $936.4M
YoY Change -3.78%
Long-Term Investments
YoY Change
Other Assets $52.18M $52.18M
YoY Change 4.76% 4.76%
Total Long-Term Assets $2.706B $2.706B
YoY Change -1.81% -1.81%
TOTAL ASSETS
Total Short-Term Assets $382.9M $382.9M
Total Long-Term Assets $2.706B $2.706B
Total Assets $3.089B $3.089B
YoY Change -0.59% -0.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.90M $13.90M
YoY Change -49.53% -49.53%
Accrued Expenses $99.66M $99.66M
YoY Change 73.06% -14.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $17.50M $17.50M
YoY Change 100.0% 100.0%
Total Short-Term Liabilities $131.1M $131.1M
YoY Change -14.44% -14.44%
LONG-TERM LIABILITIES
Long-Term Debt $907.8M $907.8M
YoY Change -1.54% -1.54%
Other Long-Term Liabilities $71.70M $71.70M
YoY Change 405.44% -9.72%
Total Long-Term Liabilities $979.5M $979.5M
YoY Change -11.06% -2.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $131.1M $131.1M
Total Long-Term Liabilities $979.5M $979.5M
Total Liabilities $1.193B $1.193B
YoY Change -4.88% -4.88%
SHAREHOLDERS EQUITY
Retained Earnings $149.9M
YoY Change -14.85%
Common Stock $8.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.896B $1.896B
YoY Change
Total Liabilities & Shareholders Equity $3.089B $3.089B
YoY Change -0.59% -0.59%

Cashflow Statement

Concept 2023 Q1 2023
OPERATING ACTIVITIES
Net Income -$209.0K -$26.14M
YoY Change -99.36% -40.97%
Depreciation, Depletion And Amortization $40.47M $161.2M
YoY Change 4.25% 17.5%
Cash From Operating Activities $55.49M $150.7M
YoY Change 9.76% 6.85%
INVESTING ACTIVITIES
Capital Expenditures $10.28M $119.1M
YoY Change -163.04% 1237.3%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$10.28M -$119.1M
YoY Change -97.82% -81.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $66.00K $6.682M
YoY Change -98.54%
Debt Paid & Issued, Net $8.750M
YoY Change -99.13%
Cash From Financing Activities -1.146M -2.671M
YoY Change -61.43% -100.68%
NET CHANGE
Cash From Operating Activities 55.49M 150.7M
Cash From Investing Activities -10.28M -119.1M
Cash From Financing Activities -1.146M -2.671M
Net Change In Cash 44.07M 28.85M
YoY Change -110.4% -127.91%
FREE CASH FLOW
Cash From Operating Activities $55.49M $150.7M
Capital Expenditures $10.28M $119.1M
Free Cash Flow $45.22M $31.52M
YoY Change -32.37% -76.13%

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The preparation of financial statements in conformity with GAAP 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 date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management has made estimates for the allowance for doubtful accounts, capitalized software development costs, evaluating goodwill and long-lived assets for impairment, useful lives of property and equipment and intangible assets, accrued compensation, accrued liabilities, grant date fair value of stock options and performance restricted stock units and restricted stock awards, and income taxes. Actual results could differ from those estimates.
CY2023 us-gaap Net Income Loss
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CY2022 us-gaap Net Income Loss
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CY2021 us-gaap Net Income Loss
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CY2023Q1 us-gaap Other Commitment
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