2023 Q3 Form 10-Q Financial Statement

#000162828023026250 Filed on July 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $543.2M $662.3M
YoY Change -27.23% 0.25%
Cost Of Revenue $47.10M $48.17M
YoY Change 0.65% -3.0%
Gross Profit $496.0M $614.1M
YoY Change -29.11% 0.52%
Gross Profit Margin 91.32% 92.73%
Selling, General & Admin $476.9M $569.8M
YoY Change -10.27% 20.07%
% of Gross Profit 96.15% 92.78%
Research & Development $46.90M $51.37M
YoY Change 5.2% 22.11%
% of Gross Profit 9.46% 8.36%
Depreciation & Amortization $10.60M $10.61M
YoY Change -2.44% -1.77%
% of Gross Profit 2.14% 1.73%
Operating Expenses $46.90M $587.5M
YoY Change 5.2% 1296.66%
Operating Profit -$4.857M $26.62M
YoY Change -103.07% -78.85%
Interest Expense $19.25M -$80.00K
YoY Change -2.21% -100.38%
% of Operating Profit -0.3%
Other Income/Expense, Net $14.98M $17.74M
YoY Change 50.3% 67.13%
Pretax Income -$4.900M -$110.1M
YoY Change -103.1% -187.47%
Income Tax -$11.63M $10.30M
% Of Pretax Income
Net Earnings $7.139M -$124.8M
YoY Change -93.25% -230.68%
Net Earnings / Revenue 1.31% -18.84%
Basic Earnings Per Share $0.07 -$1.41
Diluted Earnings Per Share $0.06 -$1.41
COMMON SHARES
Basic Shares Outstanding 112.8M shares 112.8M
Diluted Shares Outstanding 94.31M shares 88.73M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $972.7M $1.145B
YoY Change -67.17% -64.52%
Cash & Equivalents $653.4M $1.145B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $506.0M $528.1M
Other Receivables $126.1M $146.5M
Total Short-Term Assets $1.605B $1.819B
YoY Change -56.66% -54.12%
LONG-TERM ASSETS
Property, Plant & Equipment $229.6M $663.1M
YoY Change 5.07% 186.45%
Goodwill $394.0M $394.6M
YoY Change 4.86% 4.43%
Intangibles
YoY Change
Long-Term Investments $0.00 $690.2M
YoY Change -100.0% 4236.78%
Other Assets $542.0M $559.4M
YoY Change 38.78% 37.05%
Total Long-Term Assets $2.691B $2.784B
YoY Change 7.42% 1.36%
TOTAL ASSETS
Total Short-Term Assets $1.605B $1.819B
Total Long-Term Assets $2.691B $2.784B
Total Assets $4.296B $4.603B
YoY Change -30.81% -31.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $988.7M $1.109B
YoY Change -4.35% 9.3%
Deferred Revenue
YoY Change
Short-Term Debt $464.6M $589.4M
YoY Change -69.11% 11811.64%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.453B $1.698B
YoY Change -42.73% -40.44%
LONG-TERM LIABILITIES
Long-Term Debt $1.771B $1.773B
YoY Change -21.81% -21.64%
Other Long-Term Liabilities $645.9M $709.7M
YoY Change -10.07% -6.35%
Total Long-Term Liabilities $2.417B $2.482B
YoY Change -18.99% -17.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.453B $1.698B
Total Long-Term Liabilities $2.417B $2.482B
Total Liabilities $3.794B $4.243B
YoY Change -23.38% -20.08%
SHAREHOLDERS EQUITY
Retained Earnings $1.389B $1.431B
YoY Change -17.47% -12.1%
Common Stock $203.7M $168.8M
YoY Change 59.33% 131.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $361.3M $360.0M
YoY Change
Total Liabilities & Shareholders Equity $4.296B $4.603B
YoY Change -30.81% -31.42%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $7.139M -$124.8M
YoY Change -93.25% -230.68%
Depreciation, Depletion And Amortization $10.60M $10.61M
YoY Change -2.44% -1.77%
Cash From Operating Activities $33.50M $201.0M
YoY Change -92.29% -32.69%
INVESTING ACTIVITIES
Capital Expenditures $7.500M $7.378M
YoY Change -241.8% -219.25%
Acquisitions
YoY Change
Other Investing Activities $200.0K $98.00K
YoY Change -102.69% -53.55%
Cash From Investing Activities -$7.300M -$7.280M
YoY Change -42.66% 21.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -176.7M -171.8M
YoY Change -67.2% 300.11%
NET CHANGE
Cash From Operating Activities 33.50M 201.0M
Cash From Investing Activities -7.300M -7.280M
Cash From Financing Activities -176.7M -171.8M
Net Change In Cash -150.5M 21.94M
YoY Change 28.82% -91.21%
FREE CASH FLOW
Cash From Operating Activities $33.50M $201.0M
Capital Expenditures $7.500M $7.378M
Free Cash Flow $26.00M $193.6M
YoY Change -94.09% -36.48%

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CY2022Q2 laz Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Foreign Currency Translation Adjustments
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CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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CY2023Q2 us-gaap Alternative Investment
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CY2023Q2 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Committments
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CY2022Q4 us-gaap Alternative Investment
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CY2023Q2 us-gaap Property Plant And Equipment Gross
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CY2022Q4 us-gaap Property Plant And Equipment Gross
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CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2023Q2 us-gaap Property Plant And Equipment Net
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CY2023Q2 us-gaap Goodwill
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CY2022Q2 us-gaap Goodwill
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CY2023Q2 us-gaap Amortization Of Intangible Assets
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CY2022Q2 us-gaap Amortization Of Intangible Assets
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30000 usd
us-gaap Amortization Of Intangible Assets
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30000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
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15000 usd
CY2022Q2 us-gaap Amortization Of Intangible Assets
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30000 usd
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CY2023Q2 us-gaap Deferred Finance Costs Net
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CY2022Q4 us-gaap Debt Instrument Carrying Amount
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CY2022Q4 us-gaap Deferred Finance Costs Net
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CY2022Q4 us-gaap Long Term Debt
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CY2023Q2 us-gaap Guarantee Obligations Maximum Exposure
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10000000 usd
us-gaap Stock Repurchased During Period Shares
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CY2023Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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CY2023Q2 us-gaap Preferred Stock Shares Authorized
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CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2022Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2022Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2023Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2022Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2023Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2023Q2 us-gaap Minority Interest
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CY2022Q4 us-gaap Minority Interest
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laz Prepaid Compensation Asset Settled
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CY2023Q2 laz Prepaid Compensation Asset
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CY2023Q2 laz Amortization Of Awarded Grants Net Of Forfeitures
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CY2022Q2 laz Amortization Of Awarded Grants Net Of Forfeitures
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47629000 usd
laz Amortization Of Awarded Grants Net Of Forfeitures
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CY2023Q2 laz Compensation Expense Related To Change In Fair Value Of Underlying Investments
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laz Compensation Expense Related To Change In Fair Value Of Underlying Investments
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CY2023Q2 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
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us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
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CY2023Q2 laz Weighted Average Number Of Shares Outstanding Basic Before Adjustments
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CY2022Q2 laz Weighted Average Number Of Shares Outstanding Basic Before Adjustments
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laz Weighted Average Number Of Shares Outstanding Basic Before Adjustments
WeightedAverageNumberOfSharesOutstandingBasicBeforeAdjustments
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CY2023Q2 laz Weighted Average Number Of Basic Shares Outstanding Adjustment
WeightedAverageNumberOfBasicSharesOutstandingAdjustment
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CY2022Q2 laz Weighted Average Number Of Basic Shares Outstanding Adjustment
WeightedAverageNumberOfBasicSharesOutstandingAdjustment
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laz Weighted Average Number Of Basic Shares Outstanding Adjustment
WeightedAverageNumberOfBasicSharesOutstandingAdjustment
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WeightedAverageNumberOfBasicSharesOutstandingAdjustment
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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WeightedAverageNumberOfSharesOutstandingBasic
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CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023Q2 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
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CY2022Q2 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
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us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
1185550000 usd
us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
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CY2023Q2 us-gaap Costs And Expenses
CostsAndExpenses
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CY2022Q2 us-gaap Costs And Expenses
CostsAndExpenses
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us-gaap Costs And Expenses
CostsAndExpenses
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us-gaap Costs And Expenses
CostsAndExpenses
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CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2023Q2 us-gaap Assets
Assets
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CY2022Q4 us-gaap Assets
Assets
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CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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