2020 Q4 Form 10-Q Financial Statement

#000156459020051449 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q4
Revenue $252.1M $228.4M $186.2M
YoY Change 35.4% 31.54% 29.28%
Cost Of Revenue $47.30M $42.60M $35.98M
YoY Change 31.48% 28.08% 31.47%
Gross Profit $204.8M $185.8M $150.2M
YoY Change 36.34% 32.36% 28.76%
Gross Profit Margin 81.24% 81.35% 80.68%
Selling, General & Admin $156.3M $146.8M $115.1M
YoY Change 35.79% 28.11% 24.43%
% of Gross Profit 76.32% 79.01% 76.63%
Research & Development $55.60M $54.46M $42.80M
YoY Change 29.91% 36.66% 33.75%
% of Gross Profit 27.15% 29.31% 28.49%
Depreciation & Amortization $10.00M $9.400M $7.600M
YoY Change 31.58% 30.56% 10.14%
% of Gross Profit 4.88% 5.06% 5.06%
Operating Expenses $211.9M $201.2M $157.8M
YoY Change 34.28% 30.31% 26.75%
Operating Profit -$7.100M -$15.46M -$7.589M
YoY Change -6.44% 9.87% -3.23%
Interest Expense -$6.600M $7.062M -$1.200M
YoY Change 450.0% 22.6% -53.85%
% of Operating Profit
Other Income/Expense, Net $400.0K -$6.111M $400.0K
YoY Change 0.0% 820.33% -200.0%
Pretax Income -$13.80M -$21.57M -$9.000M
YoY Change 53.33% 46.39% -17.43%
Income Tax $1.600M $926.0K $1.300M
% Of Pretax Income
Net Earnings -$15.40M -$22.50M -$10.30M
YoY Change 49.49% 50.12% -10.36%
Net Earnings / Revenue -6.11% -9.85% -5.53%
Basic Earnings Per Share
Diluted Earnings Per Share -$334.8K -$493.4K -$240.1K
COMMON SHARES
Basic Shares Outstanding 45.89M 45.63M 42.82M
Diluted Shares Outstanding 45.63M

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.251B $1.185B $961.5M
YoY Change 30.13% 24.88% 62.35%
Cash & Equivalents $378.1M $124.9M $269.7M
Short-Term Investments $873.1M $1.060B $691.8M
Other Short-Term Assets $79.30M $80.20M $55.70M
YoY Change 42.37% 45.29% 29.53%
Inventory
Prepaid Expenses
Receivables $126.4M $94.10M $92.52M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.457B $1.359B $1.110B
YoY Change 31.29% 25.67% 55.77%
LONG-TERM ASSETS
Property, Plant & Equipment $101.1M $95.35M $83.65M
YoY Change 20.89% 49.08% 59.43%
Goodwill $31.32M $30.60M $30.25M
YoY Change 3.53% 104.66% 102.34%
Intangibles
YoY Change
Long-Term Investments $30.70M $43.60M $53.80M
YoY Change -42.94% -27.09% 367.83%
Other Assets $13.89M $11.72M $9.824M
YoY Change 41.42% 48.45% 42.62%
Total Long-Term Assets $516.4M $516.6M $459.5M
YoY Change 12.38% 29.92% 278.12%
TOTAL ASSETS
Total Short-Term Assets $1.457B $1.359B $1.110B
Total Long-Term Assets $516.4M $516.6M $459.5M
Total Assets $1.973B $1.875B $1.569B
YoY Change 25.75% 26.81% 88.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.54M $14.12M $12.84M
YoY Change 5.44% -5.15% 64.43%
Accrued Expenses $109.6M $100.7M $78.60M
YoY Change 39.44% 54.45% 71.24%
Deferred Revenue $312.9M $231.0M
YoY Change 35.42% 26.04%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.800M $0.00
YoY Change
Total Short-Term Liabilities $445.5M $372.4M $322.5M
YoY Change 38.14% 32.57% 36.07%
LONG-TERM LIABILITIES
Long-Term Debt $471.1M $474.0M $340.6M
YoY Change 38.31% 41.49% 6.84%
Other Long-Term Liabilities $10.81M $296.1M $8.983M
YoY Change 20.35% 4689.71% 83.44%
Total Long-Term Liabilities $10.81M $770.1M $8.983M
YoY Change 20.35% 12357.13% 83.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $445.5M $372.4M $322.5M
Total Long-Term Liabilities $10.81M $770.1M $8.983M
Total Liabilities $1.211B $1.143B $919.3M
YoY Change 31.7% 34.34% 56.0%
SHAREHOLDERS EQUITY
Retained Earnings -$483.2M -$398.1M
YoY Change 21.36% 15.61%
Common Stock $1.241B $1.048B
YoY Change 18.39% 77.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $762.7M $732.9M $650.0M
YoY Change
Total Liabilities & Shareholders Equity $1.973B $1.875B $1.569B
YoY Change 25.75% 26.81% 88.17%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q4
OPERATING ACTIVITIES
Net Income -$15.40M -$22.50M -$10.30M
YoY Change 49.49% 50.12% -10.36%
Depreciation, Depletion And Amortization $10.00M $9.400M $7.600M
YoY Change 31.58% 30.56% 10.14%
Cash From Operating Activities $60.90M $38.70M $47.90M
YoY Change 27.14% 96.45% 44.28%
INVESTING ACTIVITIES
Capital Expenditures -$15.50M -$13.30M -$23.50M
YoY Change -34.04% 3.1% 190.12%
Acquisitions
YoY Change
Other Investing Activities $198.5M -$108.1M $16.60M
YoY Change 1095.78% 367.97% -244.35%
Cash From Investing Activities $183.0M -$121.4M -$6.900M
YoY Change -2752.17% 236.29% -64.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.800M 4.100M 2.800M
YoY Change 71.43% -32.79% 7.69%
NET CHANGE
Cash From Operating Activities 60.90M 38.70M 47.90M
Cash From Investing Activities 183.0M -121.4M -6.900M
Cash From Financing Activities 4.800M 4.100M 2.800M
Net Change In Cash 248.7M -78.60M 43.80M
YoY Change 467.81% 663.11% 168.71%
FREE CASH FLOW
Cash From Operating Activities $60.90M $38.70M $47.90M
Capital Expenditures -$15.50M -$13.30M -$23.50M
Free Cash Flow $76.40M $52.00M $71.40M
YoY Change 7.0% 59.51% 72.88%

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WeightedAverageNumberOfSharesOutstandingBasic
42531000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44346000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41749000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45627000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42531000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44346000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41749000
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.49
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.35
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.57
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.04
CY2020Q3 hubs Average Stock Price
AverageStockPrice
262.12
hubs Average Stock Price
AverageStockPrice
203.21
CY2020Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
1127730000
CY2019Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
910960000
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
64427000
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
95352000
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
225770000
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
1059102000
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
1059615000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
691556000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
691834000
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
43278000
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
43550000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
53624000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
53776000
CY2020Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1102380000
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1103165000
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
745180000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
745610000
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
124895000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
269670000
CY2019Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
6019000
CY2019Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
5816000
CY2020Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
3029000
CY2019Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1505000
CY2019Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
3029000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
127924000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
233294000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
278515000
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
159779000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
132728000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
49079000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
83649000
hubs Capitalized Software Estimated Useful Life
CapitalizedSoftwareEstimatedUsefulLife
P2Y
us-gaap Depreciation And Amortization
DepreciationAndAmortization
15100000
CY2019Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3800000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
11200000
CY2020Q3 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
78605000
CY2019Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
61641000
CY2020Q3 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
55766000
CY2019Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
44848000
CY2020Q3 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
22839000
CY2019Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
16793000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
13021000
us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
20900000
hubs Increase In Future Lease Commitments
IncreaseInFutureLeaseCommitments
86800000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
12151000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
50884000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
49554000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
49160000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
47879000
CY2020Q3 hubs Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
183531000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
393159000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
649958000
hubs Payments For Capped Calls And Transactions Costs
PaymentsForCappedCallsAndTransactionsCosts
-50600000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
59769000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
82000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-76000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
715000
us-gaap Net Income Loss
NetIncomeLoss
-47117000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
723051000
CY2020Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1469000
CY2020Q3 hubs Taxes Paid On Restricted Stock Units Vesting
TaxesPaidOnRestrictedStockUnitsVesting
-2454000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
31526000
CY2020Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
2049000
CY2020Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-15000
CY2020Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-279000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-22498000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
732864000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
244641000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
7757000
hubs Stock Issuance Costs
StockIssuanceCosts
365000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
342630000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
50609000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-50000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
269000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1014000
us-gaap Net Income Loss
NetIncomeLoss
-28457000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
618144000
CY2019Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
2184000
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
24161000
CY2019Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-947000
CY2019Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-12000
CY2019Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-203000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-14987000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
173621000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
630961000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
488674000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
628352000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
31186000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
23791000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
90022000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
73659000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
31186000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
23791000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
90022000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
73659000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
228385000
CY2020Q3 hubs Right Of Use Asset And Property Plant And Equipment Net
RightOfUseAssetAndPropertyPlantAndEquipmentNet
374177000
CY2019Q4 hubs Right Of Use Asset And Property Plant And Equipment Net
RightOfUseAssetAndPropertyPlantAndEquipmentNet
318039000

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