2024 Q3 Form 10-K Financial Statement

#000162828024038024 Filed on August 21, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024
Revenue $336.9M $308.3M $1.359B
YoY Change -9.14% -19.59% -23.08%
Cost Of Revenue $259.0M $252.4M $1.075B
YoY Change -7.89% -7.0% -10.28%
Gross Profit $77.90M $55.90M $251.5M
YoY Change -13.06% -50.09% -55.8%
Gross Profit Margin 23.12% 18.13% 18.5%
Selling, General & Admin $76.30M $52.50M $310.7M
YoY Change 34.09% -31.28% -10.92%
% of Gross Profit 97.95% 93.92% 123.54%
Research & Development $74.30M $72.80M $302.2M
YoY Change 0.54% -14.75% -1.82%
% of Gross Profit 95.38% 130.23% 120.16%
Depreciation & Amortization $27.00M $19.80M $110.6M
YoY Change -65.69% -28.52% 3.75%
% of Gross Profit 34.66% 35.42% 43.98%
Operating Expenses $160.3M $145.1M $685.5M
YoY Change 12.73% -11.2% 0.12%
Operating Profit -$82.40M -$89.20M -$434.0M
YoY Change 56.65% 73.54% 275.11%
Interest Expense -$5.500M -$5.400M -$33.80M
YoY Change -157.29% -162.07% -195.21%
% of Operating Profit
Other Income/Expense, Net $8.700M $11.30M $62.10M
YoY Change 866.67% -0.88% 27.25%
Pretax Income -$79.20M -$127.5M -$405.7M
YoY Change 74.45% 161.81% 296.19%
Income Tax $3.200M $125.0M $140.8M
% Of Pretax Income
Net Earnings -$82.40M -$252.5M -$546.5M
YoY Change 36.88% 542.49% 315.27%
Net Earnings / Revenue -24.46% -81.9% -40.21%
Basic Earnings Per Share -$1.21 -$8.12
Diluted Earnings Per Share -$1.21 -$3.72 -$8.12
COMMON SHARES
Basic Shares Outstanding 68.00M shares 67.60M shares 67.30M shares
Diluted Shares Outstanding 68.30M shares 67.30M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $916.1M $887.0M $887.0M
YoY Change -54.5% -46.8% -55.95%
Cash & Equivalents $489.2M $436.7M $239.8M
Short-Term Investments $426.9M $450.3M $450.3M
Other Short-Term Assets $118.3M $110.0M $110.0M
YoY Change 7.94% 1.66% 0.36%
Inventory $403.3M $398.4M $398.4M
Prepaid Expenses
Receivables $198.5M $194.7M $194.7M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.636B $1.590B $1.590B
YoY Change -41.1% -35.46% -42.76%
LONG-TERM ASSETS
Property, Plant & Equipment $674.1M $645.3M $645.3M
YoY Change 18.93% 33.63% 13.85%
Goodwill $1.061B $1.056B
YoY Change 52.63% 51.65%
Intangibles $573.9M $617.5M
YoY Change 24.98% 23.9%
Long-Term Investments
YoY Change
Other Assets $12.00M $12.50M $23.20M
YoY Change -28.57% -17.76% -82.57%
Total Long-Term Assets $2.333B $2.342B $2.342B
YoY Change 25.84% 23.88% 26.3%
TOTAL ASSETS
Total Short-Term Assets $1.636B $1.590B $1.590B
Total Long-Term Assets $2.333B $2.342B $2.342B
Total Assets $3.970B $3.932B $3.932B
YoY Change -14.3% -9.69% -15.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $163.1M $126.3M $126.3M
YoY Change -3.72% -36.44% -25.44%
Accrued Expenses $39.70M $52.40M $126.2M
YoY Change -22.46% -11.93% 8.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $10.80M $0.00 $0.00
YoY Change -96.53% -100.0% -100.0%
Total Short-Term Liabilities $305.1M $269.3M $269.3M
YoY Change -51.86% -64.98% -57.51%
LONG-TERM LIABILITIES
Long-Term Debt $2.569B $2.503B $2.503B
YoY Change 2.77% 31.69% 0.13%
Other Long-Term Liabilities $116.2M $103.4M $146.4M
YoY Change 27.13% 36.59% 5.25%
Total Long-Term Liabilities $2.685B $103.4M $2.650B
YoY Change 2838.07% -94.77% 0.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $305.1M $269.3M $269.3M
Total Long-Term Liabilities $2.685B $103.4M $2.650B
Total Liabilities $3.074B $2.975B $2.975B
YoY Change -6.18% 5.63% -9.21%
SHAREHOLDERS EQUITY
Retained Earnings -$969.5M -$887.1M
YoY Change 184.64% 530.94%
Common Stock $100.0K $100.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $895.9M $957.3M $957.3M
YoY Change
Total Liabilities & Shareholders Equity $3.970B $3.932B $3.932B
YoY Change -14.3% -9.69% -15.12%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024
OPERATING ACTIVITIES
Net Income -$82.40M -$252.5M -$546.5M
YoY Change 36.88% 542.49% 315.27%
Depreciation, Depletion And Amortization $27.00M $19.80M $110.6M
YoY Change -65.69% -28.52% 3.75%
Cash From Operating Activities $39.60M $35.50M $24.70M
YoY Change -19.51% 138.26% -86.26%
INVESTING ACTIVITIES
Capital Expenditures $74.10M $24.60M $133.0M
YoY Change 104.13% -16.33% 3.5%
Acquisitions $700.9M
YoY Change -18.65%
Other Investing Activities $27.00M -$2.900M $22.70M
YoY Change -178.03% -87.17% -103.04%
Cash From Investing Activities -$47.10M -$27.50M -$114.3M
YoY Change -33.57% -47.12% -86.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $60.00M 3.700M -$332.7M
YoY Change -81.9% -163.79% -226.5%
NET CHANGE
Cash From Operating Activities $39.60M 35.50M $24.70M
Cash From Investing Activities -$47.10M -27.50M -$114.3M
Cash From Financing Activities $60.00M 3.700M -$332.7M
Net Change In Cash $52.50M 11.70M -$422.3M
YoY Change -83.05% -127.27% -2.06%
FREE CASH FLOW
Cash From Operating Activities $39.60M $35.50M $24.70M
Capital Expenditures $74.10M $24.60M $133.0M
Free Cash Flow -$34.50M $10.90M -$108.3M
YoY Change -367.44% -175.17% -311.11%

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14600000 usd
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1085100000 usd
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24000000.0 usd
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436700000 usd
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859000000.0 usd
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CY2022 us-gaap Interest Paid Net
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23500000 usd
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128900000 usd
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CY2023 us-gaap Number Of Reportable Segments
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CY2024 us-gaap Fiscal Period
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<div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Fiscal Years</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We utilize a 52-53 week fiscal year ending on the Saturday closest to June 30th. Every fifth or sixth fiscal year will have a 53-week period. The additional week in a 53-week year is added to the third quarter, making such quarter consist of 14 weeks. Our fiscal 2024, 2023 and 2022 were 52-week years, ending on June 29, 2024, July 1, 2023 and July 2, 2022, respectively.</span></div>
CY2024Q2 us-gaap Contract With Customer Liability
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CY2024 lite Standard Product Warranty Term
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198900000 usd
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68300000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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71200000 shares
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67300000 shares
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68300000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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74200000 shares
CY2024 us-gaap Earnings Per Share Basic
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100000 shares
CY2024Q2 us-gaap Cash
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436700000 usd
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0 usd
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450300000 usd
CY2023Q3 us-gaap Cash
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254300000 usd
CY2023Q3 us-gaap Cash
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Files In Submission

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