2023 Q3 Form 10-Q Financial Statement

#000162828023027015 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $319.9M $321.7M
YoY Change 33.71% 43.79%
Cost Of Revenue $120.0M $119.1M
YoY Change 30.63% 38.93%
Gross Profit $200.0M $202.6M
YoY Change 35.62% 46.81%
Gross Profit Margin 62.5% 62.99%
Selling, General & Admin $73.14M $62.61M
YoY Change 48.74% 4.19%
% of Gross Profit 36.58% 30.89%
Research & Development $14.45M $15.90M
YoY Change 15.44% 7.91%
% of Gross Profit 7.23% 7.85%
Depreciation & Amortization $14.60M $15.76M
YoY Change 20.12% 30.17%
% of Gross Profit 7.3% 7.78%
Operating Expenses $87.59M $78.51M
YoY Change 41.98% 4.92%
Operating Profit $112.4M $124.1M
YoY Change 31.04% 96.41%
Interest Expense $5.054M -$682.0K
YoY Change 210.82% -146.43%
% of Operating Profit 4.5% -0.55%
Other Income/Expense, Net $52.65M $231.0K
YoY Change -4881.93% -25.48%
Pretax Income $160.0M $123.7M
YoY Change 92.68% 99.35%
Income Tax $28.00M $29.56M
% Of Pretax Income 17.5% 23.9%
Net Earnings $132.0M $94.13M
YoY Change 115.5% 118.61%
Net Earnings / Revenue 41.24% 29.26%
Basic Earnings Per Share $1.93 $1.38
Diluted Earnings Per Share $1.88 $1.33
COMMON SHARES
Basic Shares Outstanding 68.43M shares 68.33M shares
Diluted Shares Outstanding 70.05M shares 71.01M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $614.1M $414.1M
YoY Change 138.71% 141.55%
Cash & Equivalents $614.1M $414.1M
Short-Term Investments
Other Short-Term Assets $11.49M $30.07M
YoY Change -8.63% 150.83%
Inventory $56.46M $51.80M
Prepaid Expenses
Receivables $259.2M $256.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $948.4M $752.2M
YoY Change 88.97% 86.0%
LONG-TERM ASSETS
Property, Plant & Equipment $140.3M $154.2M
YoY Change 16.11% 29.56%
Goodwill $61.19M $61.19M
YoY Change 0.0% 0.0%
Intangibles $163.3M $221.0M
YoY Change -49.54% -33.41%
Long-Term Investments
YoY Change
Other Assets $56.21M $149.1M
YoY Change 35.03% 253.74%
Total Long-Term Assets $573.2M $585.5M
YoY Change -3.51% -3.92%
TOTAL ASSETS
Total Short-Term Assets $948.4M $752.2M
Total Long-Term Assets $573.2M $585.5M
Total Assets $1.522B $1.338B
YoY Change 38.84% 31.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.08M $38.86M
YoY Change 23.03% 83.71%
Accrued Expenses $118.1M $105.2M
YoY Change -34.75% -39.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $703.0K $384.0K
YoY Change -95.43% -97.27%
Total Short-Term Liabilities $176.6M $154.0M
YoY Change -25.16% -29.67%
LONG-TERM LIABILITIES
Long-Term Debt $560.6M $559.2M
YoY Change 268.68% 259.26%
Other Long-Term Liabilities $62.85M $71.80M
YoY Change 35.19% 44.71%
Total Long-Term Liabilities $62.85M $631.0M
YoY Change 35.19% 1171.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $176.6M $154.0M
Total Long-Term Liabilities $62.85M $631.0M
Total Liabilities $822.9M $785.1M
YoY Change 79.71% 75.83%
SHAREHOLDERS EQUITY
Retained Earnings $30.12M -$101.8M
YoY Change -140.72% -24.68%
Common Stock $744.7M $730.4M
YoY Change 5.03% 4.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $698.8M $552.6M
YoY Change
Total Liabilities & Shareholders Equity $1.522B $1.338B
YoY Change 38.84% 31.95%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $132.0M $94.13M
YoY Change 115.5% 118.61%
Depreciation, Depletion And Amortization $14.60M $15.76M
YoY Change 20.12% 30.17%
Cash From Operating Activities $116.8M -$32.27M
YoY Change 24.83% -144.45%
INVESTING ACTIVITIES
Capital Expenditures $14.60M $10.70M
YoY Change -339.74% -346.3%
Acquisitions
YoY Change
Other Investing Activities $97.80M -$10.00M
YoY Change
Cash From Investing Activities $83.20M -$20.70M
YoY Change -1466.17% 376.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 100.0K -4.051M
YoY Change -105.1% 101.44%
NET CHANGE
Cash From Operating Activities 116.8M -32.27M
Cash From Investing Activities 83.20M -20.70M
Cash From Financing Activities 100.0K -4.051M
Net Change In Cash 200.1M -57.01M
YoY Change 133.98% -186.07%
FREE CASH FLOW
Cash From Operating Activities $116.8M -$32.27M
Capital Expenditures $14.60M $10.70M
Free Cash Flow $102.2M -$42.96M
YoY Change 2.55% -155.84%

Facts In Submission

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11087000 usd
CY2022Q4 lnth Accrued Rebates Discounts And Chargebacks Current
AccruedRebatesDiscountsAndChargebacksCurrent
13399000 usd
CY2023Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
7288000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
8668000 usd
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
11158000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
25525000 usd
CY2023Q2 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
114798000 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
127084000 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
31252000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
25442000 usd
CY2023Q2 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
3000000 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
11900000 usd
CY2023Q2 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
14816000 usd
CY2022Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
8813000 usd
CY2023Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
49068000 usd
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
46155000 usd
CY2023Q2 lnth Asset Retirement Obligation Liabilities Expected Present Value
AssetRetirementObligationLiabilitiesExpectedPresentValue
25100000 usd
CY2022Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
22543000 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
186000 usd
CY2023Q2 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
22729000 usd
CY2023Q2 lnth Financial Assurance In Form Of Surety Bond
FinancialAssuranceInFormOfSuretyBond
30300000 usd
CY2023Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
392557000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
171553000 usd
CY2023Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
221004000 usd
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
15640000 usd
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
15640000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
489761000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
174476000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
315285000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12400000 usd
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8300000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
23500000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
16600000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
24118000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
42045000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
30991000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
31790000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
26263000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
65797000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
221004000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
575000000 usd
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
575000000 usd
CY2023Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
15736000 usd
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
355000 usd
CY2023Q2 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
559619000 usd
CY2023Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
384000 usd
CY2023Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
559235000 usd
lnth Debt Instrument Covenant Compliance Number Of Financial Covenants
DebtInstrumentCovenantComplianceNumberOfFinancialCovenants
2 financial_covenant
CY2022Q4 lnth Debt Instrument Covenant Compliance Minimum Interest Coverage Ratio
DebtInstrumentCovenantComplianceMinimumInterestCoverageRatio
3.00
CY2023Q2 us-gaap Aoci Tax Attributable To Parent
AociTaxAttributableToParent
0 usd
CY2022Q2 us-gaap Aoci Tax Attributable To Parent
AociTaxAttributableToParent
1100000 usd
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
0 usd
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
2626000 usd
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-183000 usd
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
12692000 usd
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
7412000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
22359000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
13035000 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
24205000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
19033000 usd
CY2023Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
400000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
582000 usd
CY2023Q2 lnth Lease Right Of Use Assets
LeaseRightOfUseAssets
24605000 usd
CY2022Q4 lnth Lease Right Of Use Assets
LeaseRightOfUseAssets
19615000 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1601000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2177000 usd
CY2023Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
384000 usd
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
354000 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
31252000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
25442000 usd
CY2023Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
-29000 usd
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
231000 usd
CY2023Q2 lnth Lease Liability
LeaseLiability
33208000 usd
CY2022Q4 lnth Lease Liability
LeaseLiability
28204000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
94131000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
43058000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68371000 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68674000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
797000 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
71014000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
70796000 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.38
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.63
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.33
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.61
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
349000 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
268000 shares
CY2023Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
224000 usd
CY2022Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-125000 usd
CY2023Q2 lnth Tax Indemnification Agreement Income Expense
TaxIndemnificationAgreementIncomeExpense
232000 usd
CY2022Q2 lnth Tax Indemnification Agreement Income Expense
TaxIndemnificationAgreementIncomeExpense
396000 usd
CY2023Q2 us-gaap Interest Income Other
InterestIncomeOther
4027000 usd
CY2022Q2 us-gaap Interest Income Other
InterestIncomeOther
39000 usd
CY2023Q2 lnth Other Nonoperating Income Expense Miscellaneous
OtherNonoperatingIncomeExpenseMiscellaneous
-1000 usd
CY2022Q2 lnth Other Nonoperating Income Expense Miscellaneous
OtherNonoperatingIncomeExpenseMiscellaneous
0 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4482000 usd
CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
310000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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