$INVX
Innovex International, Inc.

2021 Q1 Form 10-Q Financial Statement

#000156459021021587 Filed on April 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $81.24M $96.00M
YoY Change -15.37% 1.78%
Cost Of Revenue $56.79M $71.41M
YoY Change -20.48% 2.94%
Gross Profit $24.45M $24.58M
YoY Change -0.54% -1.43%
Gross Profit Margin 30.1% 25.61%
Selling, General & Admin $29.56M $24.66M
YoY Change 19.87% 0.46%
% of Gross Profit 120.88% 100.3%
Research & Development $4.000M $5.500M
YoY Change -27.27% 52.78%
% of Gross Profit 16.36% 22.37%
Depreciation & Amortization $7.416M $8.873M
YoY Change -16.42% 6.19%
% of Gross Profit 30.33% 36.09%
Operating Expenses $29.56M $24.66M
YoY Change 19.87% 0.46%
Operating Profit -$31.58M -$42.32M
YoY Change -25.38% 655.35%
Interest Expense $439.0K $191.0K
YoY Change 129.84% 57.85%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$31.97M -$41.31M
YoY Change -22.6% 1011.0%
Income Tax $2.386M -$21.61M
% Of Pretax Income
Net Earnings -$34.36M -$19.70M
YoY Change 74.42% 225.53%
Net Earnings / Revenue -42.29% -20.52%
Basic Earnings Per Share -$0.97 -$0.55
Diluted Earnings Per Share -$0.97 -$0.55
COMMON SHARES
Basic Shares Outstanding 35.39M 35.70M
Diluted Shares Outstanding 35.39M 35.70M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $362.2M $343.5M
YoY Change 5.44% -17.19%
Cash & Equivalents $362.2M $343.5M
Short-Term Investments
Other Short-Term Assets $44.30M $37.83M
YoY Change 17.09% 46.48%
Inventory $194.9M $197.0M
Prepaid Expenses
Receivables $243.3M $248.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $844.7M $826.3M
YoY Change 2.23% -2.02%
LONG-TERM ASSETS
Property, Plant & Equipment $237.0M $244.5M
YoY Change -3.07% -9.59%
Goodwill
YoY Change
Intangibles $31.20M
YoY Change -9.49%
Long-Term Investments
YoY Change
Other Assets $16.30M $11.19M
YoY Change 45.61% -27.63%
Total Long-Term Assets $282.1M $309.8M
YoY Change -8.94% -8.98%
TOTAL ASSETS
Total Short-Term Assets $844.7M $826.3M
Total Long-Term Assets $282.1M $309.8M
Total Assets $1.127B $1.136B
YoY Change -0.82% -4.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $38.50M $49.82M
YoY Change -22.72% 141.19%
Accrued Expenses $37.70M $30.30M
YoY Change 24.42% -7.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $95.31M $93.45M
YoY Change 1.99% 32.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $1.985M $2.171M
YoY Change -8.57% -9.39%
Total Long-Term Liabilities $1.985M $2.171M
YoY Change -8.57% -9.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $95.31M $93.45M
Total Long-Term Liabilities $1.985M $2.171M
Total Liabilities $118.6M $111.9M
YoY Change 5.95% 26.7%
SHAREHOLDERS EQUITY
Retained Earnings $1.091B $1.136B
YoY Change -4.0% -5.2%
Common Stock $69.16M $56.41M
YoY Change 22.61% 40.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.008B $1.024B
YoY Change
Total Liabilities & Shareholders Equity $1.127B $1.136B
YoY Change -0.82% -4.02%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$34.36M -$19.70M
YoY Change 74.42% 225.53%
Depreciation, Depletion And Amortization $7.416M $8.873M
YoY Change -16.42% 6.19%
Cash From Operating Activities $13.07M -$21.24M
YoY Change -161.55% -2634.25%
INVESTING ACTIVITIES
Capital Expenditures $2.513M $4.187M
YoY Change -39.98% 18.71%
Acquisitions
YoY Change
Other Investing Activities $5.900M $700.0K
YoY Change 742.86% 133.33%
Cash From Investing Activities $3.431M -$3.500M
YoY Change -198.03% 9.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $25.00M
YoY Change -100.0% 2140.14%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -40.00K -25.09M
YoY Change -99.84% 2147.76%
NET CHANGE
Cash From Operating Activities 13.07M -21.24M
Cash From Investing Activities 3.431M -3.500M
Cash From Financing Activities -40.00K -25.09M
Net Change In Cash 16.26M -55.47M
YoY Change -129.31% 1585.12%
FREE CASH FLOW
Cash From Operating Activities $13.07M -$21.24M
Capital Expenditures $2.513M $4.187M
Free Cash Flow $10.56M -$25.42M
YoY Change -141.53% 845.48%

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:12pt;text-indent:2.36%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.17%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts of assets and liabilities as of the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. Some of the Company’s more significant estimates are those affected by critical accounting policies for revenue recognition, impairment of our goodwill and asset recoverability tests and inventories.</p>
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CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.075
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.523
CY2021Q1 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
3600000

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