2019 Q2 Form 10-Q Financial Statement

#000156459019029455 Filed on August 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $163.3M $122.6M $114.6M
YoY Change 33.19% 37.58% 39.27%
Cost Of Revenue $31.14M $24.85M $22.38M
YoY Change 25.31% 33.67% 31.07%
Gross Profit $132.1M $97.73M $92.18M
YoY Change 35.19% 38.61% 41.42%
Gross Profit Margin 80.92% 79.73% 80.47%
Selling, General & Admin $107.4M $83.30M $77.15M
YoY Change 28.93% 27.76% 28.99%
% of Gross Profit 81.29% 85.24% 83.7%
Research & Development $40.50M $28.49M $26.35M
YoY Change 42.18% 79.15% 97.1%
% of Gross Profit 30.66% 29.15% 28.59%
Depreciation & Amortization $7.000M $5.400M $5.110M
YoY Change 29.63% 45.95% 53.5%
% of Gross Profit 5.3% 5.53% 5.54%
Operating Expenses $147.9M $28.49M $103.5M
YoY Change 419.22% -64.88% 41.44%
Operating Profit -$15.79M $69.24M -$11.32M
YoY Change -122.8% -753.33% 41.55%
Interest Expense -$200.0K -$3.200M $5.174M
YoY Change -93.75% 52.38% 9850.0%
% of Operating Profit -4.62%
Other Income/Expense, Net -$700.0K -$500.0K -$3.633M
YoY Change 40.0% 400.0% -3053.66%
Pretax Income -$16.60M -$17.80M -$14.96M
YoY Change -6.74% 39.06% 89.88%
Income Tax $700.0K $400.0K $491.0K
% Of Pretax Income
Net Earnings -$17.36M -$18.23M -$15.45M
YoY Change -4.76% 91.42% 91.31%
Net Earnings / Revenue -10.63% -14.87% -13.49%
Basic Earnings Per Share
Diluted Earnings Per Share -$413.3K -$474.0K -$407.4K
COMMON SHARES
Basic Shares Outstanding 42.13M 38.35M 37.83M
Diluted Shares Outstanding 42.13M 38.35M 37.83M

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $955.2M $550.3M $529.4M
YoY Change 73.58% 11.76% 331.11%
Cash & Equivalents $238.1M $98.43M $154.0M
Short-Term Investments $717.1M $451.8M $375.4M
Other Short-Term Assets $54.70M $43.30M $35.90M
YoY Change 26.33% 32.01% 62.44%
Inventory
Prepaid Expenses
Receivables $73.00M $53.50M $54.20M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.083B $647.0M $619.5M
YoY Change 67.37% 14.76% 244.55%
LONG-TERM ASSETS
Property, Plant & Equipment $58.47M $49.30M $47.70M
YoY Change 18.6% 31.12% 37.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $38.60M $16.40M $28.10M
YoY Change 135.37% -60.86% -25.66%
Other Assets $26.70M $19.50M $16.50M
YoY Change 36.92% 191.04% 170.49%
Total Long-Term Assets $380.6M $117.8M $123.5M
YoY Change 223.09% 13.6% 29.35%
TOTAL ASSETS
Total Short-Term Assets $1.083B $647.0M $619.5M
Total Long-Term Assets $380.6M $117.8M $123.5M
Total Assets $1.464B $764.8M $743.0M
YoY Change 91.36% 14.58% 169.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.30M $5.700M $5.200M
YoY Change 133.33% 96.55% 59.66%
Accrued Expenses $64.00M $40.60M $38.70M
YoY Change 57.64% 1.5% 43.87%
Deferred Revenue $151.9M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K
YoY Change
Total Short-Term Liabilities $272.9M $198.2M $192.4M
YoY Change 37.66% 28.98% 41.85%
LONG-TERM LIABILITIES
Long-Term Debt $329.5M $308.4M $303.4M
YoY Change 6.84% 6.68% 101033.33%
Other Long-Term Liabilities $243.0M $30.50M $26.20M
YoY Change 696.72% 45.24% 74.67%
Total Long-Term Liabilities $572.5M $338.9M $329.6M
YoY Change 68.93% 9.29% 2054.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $272.9M $198.2M $192.4M
Total Long-Term Liabilities $572.5M $338.9M $329.6M
Total Liabilities $845.3M $537.2M $521.9M
YoY Change 57.35% 15.83% 245.86%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $618.1M $227.6M $221.1M
YoY Change
Total Liabilities & Shareholders Equity $1.464B $764.8M $743.0M
YoY Change 91.36% 14.58% 169.89%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income -$17.36M -$18.23M -$15.45M
YoY Change -4.76% 91.42% 91.31%
Depreciation, Depletion And Amortization $7.000M $5.400M $5.110M
YoY Change 29.63% 45.95% 53.5%
Cash From Operating Activities $13.70M $13.50M $26.72M
YoY Change 1.48% 55.17% 39.91%
INVESTING ACTIVITIES
Capital Expenditures -$10.30M -$8.200M $6.239M
YoY Change 25.61% 17.14% 6.92%
Acquisitions
YoY Change
Other Investing Activities -$52.80M -$63.10M $45.10M
YoY Change -16.32% -76.48% -9120.0%
Cash From Investing Activities -$63.10M -$71.40M $36.26M
YoY Change -11.62% -74.06% -553.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.200M 3.600M 3.557M
YoY Change -11.11% -99.03% 22.66%
NET CHANGE
Cash From Operating Activities 13.70M 13.50M 26.72M
Cash From Investing Activities -63.10M -71.40M 36.26M
Cash From Financing Activities 3.200M 3.600M 3.557M
Net Change In Cash -46.20M -54.30M 67.22M
YoY Change -14.92% -151.86% 362.24%
FREE CASH FLOW
Cash From Operating Activities $13.70M $13.50M $26.72M
Capital Expenditures -$10.30M -$8.200M $6.239M
Free Cash Flow $24.00M $21.70M $20.48M
YoY Change 10.6% 38.22% 54.41%

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AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
16596000
CY2018Q1 hubs Cumulative Adjustment From Adoption Of Revenue Recognition Standard
CumulativeAdjustmentFromAdoptionOfRevenueRecognitionStandard
5793000
CY2018Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
298000
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
20000
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-379000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-15448000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
221098000
CY2018Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
5138000
CY2018Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
20471000
CY2018Q2 hubs Cumulative Adjustment From Adoption Of Revenue Recognition Standard
CumulativeAdjustmentFromAdoptionOfRevenueRecognitionStandard
-267000
CY2018Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-720000
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
56000
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
144000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-18225000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
227639000
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
964000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28663000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19675000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
49869000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
35721000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28663000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19675000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
49869000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
35721000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
163255000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
122576000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
315053000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
237132000
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
58471000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
52468000

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