$KLDI
KLDiscovery Inc.

2021 Q3 Form 10-Q Financial Statement

#000156459021056719 Filed on November 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3 2020 Q2
Revenue $81.12M $72.30M $64.38M
YoY Change 12.2% -7.51% -17.81%
Cost Of Revenue $41.85M $37.74M $34.21M
YoY Change 10.9% -10.19% -13.3%
Gross Profit $39.27M $34.56M $30.17M
YoY Change 13.62% -4.39% -22.39%
Gross Profit Margin 48.41% 47.8% 46.86%
Selling, General & Admin $24.12M $23.44M $21.06M
YoY Change 2.91% -3.42% -19.86%
% of Gross Profit 61.42% 67.81% 69.81%
Research & Development $2.770M $1.828M $1.639M
YoY Change 51.53% 19.24% 10.07%
% of Gross Profit 7.05% 5.29% 5.43%
Depreciation & Amortization $2.800M $4.300M $4.300M
YoY Change -34.88% -4.44% -6.52%
% of Gross Profit 7.13% 12.44% 14.25%
Operating Expenses $34.40M $34.50M $31.68M
YoY Change -0.28% 12458.66% 6051.6%
Operating Profit $4.870M $65.00K -$1.517M
YoY Change 7392.31% -123.66% 194.53%
Interest Expense -$12.86M -$12.37M $12.97M
YoY Change 3.92% 2.8% 4.71%
% of Operating Profit -263.98% -19032.31%
Other Income/Expense, Net $15.00K -$11.00K -$63.00K
YoY Change -236.36% -222.22% 75.0%
Pretax Income -$30.50M -$12.32M -$14.55M
YoY Change 147.63% -1546.69% 29.74%
Income Tax -$1.000M $400.0K $400.0K
% Of Pretax Income
Net Earnings -$29.53M -$12.71M -$14.92M
YoY Change 132.4% -2041.49% 30.31%
Net Earnings / Revenue -36.4% -17.58% -23.17%
Basic Earnings Per Share -$0.69
Diluted Earnings Per Share -$692.6K -$298.8K -$350.8K
COMMON SHARES
Basic Shares Outstanding 42.64M
Diluted Shares Outstanding 42.64M

Balance Sheet

Concept 2021 Q3 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.79M $43.84M $34.10M
YoY Change -4.68% 8667.6% 5583.17%
Cash & Equivalents $41.79M $43.84M $34.10M
Short-Term Investments
Other Short-Term Assets $13.03M $11.09M $14.23M
YoY Change 17.53% 10990.0% 7015.5%
Inventory
Prepaid Expenses
Receivables $97.55M $86.10M $89.12M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $152.4M $141.0M $137.5M
YoY Change 8.05% 23560.86% 18052.48%
LONG-TERM ASSETS
Property, Plant & Equipment $21.56M $27.78M $31.15M
YoY Change -22.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.781M $2.611M $2.990M
YoY Change 6.51%
Total Long-Term Assets $492.4M $541.3M $549.3M
YoY Change -9.04% 132.05% 136.61%
TOTAL ASSETS
Total Short-Term Assets $152.4M $141.0M $137.5M
Total Long-Term Assets $492.4M $541.3M $549.3M
Total Assets $644.8M $682.4M $686.7M
YoY Change -5.51% 191.76% 194.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $35.40M $35.96M $30.80M
YoY Change -1.57% 11888.0% 15302.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.000M $11.11M $13.07M
YoY Change -72.99%
Total Short-Term Liabilities $43.25M $51.77M $49.26M
YoY Change -16.45% 5911.05% 8897.85%
LONG-TERM LIABILITIES
Long-Term Debt $499.2M $467.2M $466.0M
YoY Change 6.85%
Other Long-Term Liabilities $10.84M $10.00M $8.138M
YoY Change 8.38% 23.47% 0.47%
Total Long-Term Liabilities $499.2M $477.2M $8.138M
YoY Change 4.61% 5790.91% 0.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $43.25M $51.77M $49.26M
Total Long-Term Liabilities $499.2M $477.2M $8.138M
Total Liabilities $560.0M $535.6M $530.5M
YoY Change 4.56% 5910.9% 6067.88%
SHAREHOLDERS EQUITY
Retained Earnings -$232.9M
YoY Change -22248.73%
Common Stock $383.6M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $84.71M $146.7M $156.3M
YoY Change
Total Liabilities & Shareholders Equity $644.8M $682.4M $686.7M
YoY Change -5.51% 191.76% 194.85%

Cashflow Statement

Concept 2021 Q3 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income -$29.53M -$12.71M -$14.92M
YoY Change 132.4% -2041.49% 30.31%
Depreciation, Depletion And Amortization $2.800M $4.300M $4.300M
YoY Change -34.88% -4.44% -6.52%
Cash From Operating Activities $2.542M $16.58M $20.69M
YoY Change -84.67% -21352.56% 220.32%
INVESTING ACTIVITIES
Capital Expenditures -$2.365M -$2.502M -$3.108M
YoY Change -5.48% -39.68% 5.07%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$790.0K
YoY Change -100.0%
Cash From Investing Activities -$2.365M -$2.502M -$3.898M
YoY Change -5.48% -47.85% 31.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.024M -4.483M -33.48M
YoY Change -77.16% -174.49% 884.74%
NET CHANGE
Cash From Operating Activities 2.542M 16.58M 20.69M
Cash From Investing Activities -2.365M -2.502M -3.898M
Cash From Financing Activities -1.024M -4.483M -33.48M
Net Change In Cash -847.0K 9.592M -16.69M
YoY Change -108.83% 739.93% -16793.0%
FREE CASH FLOW
Cash From Operating Activities $2.542M $16.58M $20.69M
Capital Expenditures -$2.365M -$2.502M -$3.108M
Free Cash Flow $4.907M $19.08M $23.79M
YoY Change -74.28% 368.77% 152.7%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Entity Incorporation Date Of Incorporation
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us-gaap Use Of Estimates
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of estimates </p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the consolidated financial statements. Although actual results could differ from those estimates, management does not believe that such differences would be material. </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Significant estimates include, but are not limited to, the allowance for doubtful accounts, determining the fair values of assets acquired and liabilities assumed, including the fair value of Private Warrants (as defined in Note 3), the recoverability and useful lives of property and equipment, intangible assets, and other long-lived assets, the evaluation of goodwill for impairment, the valuation and realization of deferred income taxes, the fair value of the Company’s common stock, $0.0001 par value per share (the “Common Stock”), stock option awards, and acquisition-related contingent consideration. </p>
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CY2020Q4 us-gaap Long Term Debt
LongTermDebt
483548000
CY2021Q3 us-gaap Debt Current
DebtCurrent
3000000
CY2020Q4 us-gaap Debt Current
DebtCurrent
17000000
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
4312000
CY2020Q4 kld Current Portion Of Unamortized Debt Issuance Costs
CurrentPortionOfUnamortizedDebtIssuanceCosts
1740000
CY2021Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
3000000
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
10948000
CY2021Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
499183000
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
472600000
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
us-gaap Common Stock Voting Rights
CommonStockVotingRights
one vote for each share
kld Net Operating Loss Carrybacks Period
NetOperatingLossCarrybacksPeriod
P5Y
CY2019 kld Tax Deductible Interest Base Percentage
TaxDeductibleInterestBasePercentage
0.30
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1000000.0
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.033
CY2020Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.033
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-100000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1002000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
913000
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000000.0
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.002
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.026
CY2021Q3 kld Number Of Letters Of Credit
NumberOfLettersOfCredit
2
CY2021Q3 kld Letters Of Credit As Additional Security For Lease Guarantees
LettersOfCreditAsAdditionalSecurityForLeaseGuarantees
600000
kld Percentage Of Taxable Income Offset By Net Operating Loss Carryforwards And Carrybacks
PercentageOfTaxableIncomeOffsetByNetOperatingLossCarryforwardsAndCarrybacks
1
CY2020 kld Tax Deductible Interest Base Percentage
TaxDeductibleInterestBasePercentage
0.50
CY2020 kld Tax Deductible Interest Base Percentage
TaxDeductibleInterestBasePercentage
0.50
CY2021Q3 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
6400000
CY2020Q3 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
3100000
kld Percentage Of Taxable Income Offset By Net Operating Loss Carryforwards And Carrybacks
PercentageOfTaxableIncomeOffsetByNetOperatingLossCarryforwardsAndCarrybacks
1
CY2019 kld Tax Deductible Interest Base Percentage
TaxDeductibleInterestBasePercentage
0.30
CY2020 kld Tax Deductible Interest Base Percentage
TaxDeductibleInterestBasePercentage
0.50
CY2020 kld Tax Deductible Interest Base Percentage
TaxDeductibleInterestBasePercentage
0.50

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