$MEC
Mayville Engineering Company, Inc.

2019 Q4 Form 10-Q Financial Statement

#000156459019039181 Filed on October 31, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $102.3M $128.5M $84.34M
YoY Change 11.92% 52.38%
Cost Of Revenue $98.30M $113.9M $71.52M
YoY Change 21.3% 59.32%
Gross Profit $4.034M $14.57M $12.82M
YoY Change -61.2% 13.64%
Gross Profit Margin 3.94% 11.34% 15.2%
Selling, General & Admin $6.000M $8.200M $6.200M
YoY Change -20.0% 32.26%
% of Gross Profit 148.74% 56.28% 48.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.350M $8.290M $4.970M
YoY Change 49.11% 66.8%
% of Gross Profit 206.99% 56.9% 38.76%
Operating Expenses $8.600M $11.00M $7.200M
YoY Change -3.37% 52.78%
Operating Profit -$4.612M $13.25M $5.687M
YoY Change -390.98% 132.9%
Interest Expense $918.0K $987.0K $846.0K
YoY Change -27.94% 16.67%
% of Operating Profit 7.45% 14.88%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$5.530M $12.26M $4.841M
YoY Change -6605.88% 153.21%
Income Tax -$3.857M $2.512M $17.00K
% Of Pretax Income 20.49% 0.35%
Net Earnings -$1.673M $9.746M $4.824M
YoY Change -383.56% 102.03%
Net Earnings / Revenue -1.63% 7.58% 5.72%
Basic Earnings Per Share
Diluted Earnings Per Share -$86.29K $492.4K $355.6K
COMMON SHARES
Basic Shares Outstanding 19.74M 19.74M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00
YoY Change
Cash & Equivalents $1.000K $1.000K $84.00K
Short-Term Investments
Other Short-Term Assets $3.000M $3.300M
YoY Change
Inventory $45.69M $50.65M
Prepaid Expenses
Receivables $40.20M $62.60M
Other Receivables $0.00 $0.00
Total Short-Term Assets $90.48M $118.0M
YoY Change -19.76%
LONG-TERM ASSETS
Property, Plant & Equipment $125.1M $128.1M
YoY Change 0.95%
Goodwill $71.54M $70.92M
YoY Change 3.02%
Intangibles $72.17M $74.85M
YoY Change -12.92%
Long-Term Investments
YoY Change
Other Assets $1.107M $4.976M
YoY Change 36.0%
Total Long-Term Assets $273.1M $282.1M
YoY Change -2.1%
TOTAL ASSETS
Total Short-Term Assets $90.48M $118.0M
Total Long-Term Assets $273.1M $282.1M
Total Assets $363.6M $400.1M
YoY Change -7.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.17M $42.49M
YoY Change -30.05%
Accrued Expenses $12.00M $15.40M
YoY Change
Deferred Revenue $914.0K
YoY Change -6.45%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $600.0K $700.0K
YoY Change -93.03%
Total Short-Term Liabilities $48.19M $62.99M
YoY Change -42.05%
LONG-TERM LIABILITIES
Long-Term Debt $75.30M $89.70M
YoY Change
Other Long-Term Liabilities $100.0K $100.0K
YoY Change 0.0%
Total Long-Term Liabilities $100.0K $100.0K
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $48.19M $62.99M
Total Long-Term Liabilities $100.0K $100.0K
Total Liabilities $162.7M $197.9M
YoY Change -43.66%
SHAREHOLDERS EQUITY
Retained Earnings $22.09M $23.76M
YoY Change -17.7%
Common Stock $183.7M $182.3M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $200.9M $202.2M
YoY Change
Total Liabilities & Shareholders Equity $363.6M $400.1M
YoY Change -7.18%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$1.673M $9.746M $4.824M
YoY Change -383.56% 102.03%
Depreciation, Depletion And Amortization $8.350M $8.290M $4.970M
YoY Change 49.11% 66.8%
Cash From Operating Activities $16.98M $9.960M $11.80M
YoY Change 108.34% -15.59%
INVESTING ACTIVITIES
Capital Expenditures -$2.980M -$6.180M -$7.340M
YoY Change -34.51% -15.8%
Acquisitions
YoY Change
Other Investing Activities $1.660M -$1.610M $10.00K
YoY Change -101.45% -16200.0%
Cash From Investing Activities -$1.320M -$7.790M -$7.330M
YoY Change -98.89% 6.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.66M -2.170M -4.470M
YoY Change -113.72% -51.45%
NET CHANGE
Cash From Operating Activities 16.98M 9.960M 11.80M
Cash From Investing Activities -1.320M -7.790M -7.330M
Cash From Financing Activities -15.66M -2.170M -4.470M
Net Change In Cash -0.00000001118 0.0000000009313 -0.0000000009313
YoY Change -100.0% -200.0%
FREE CASH FLOW
Cash From Operating Activities $16.98M $9.960M $11.80M
Capital Expenditures -$2.980M -$6.180M -$7.340M
Free Cash Flow $19.96M $16.14M $19.14M
YoY Change 57.17% -15.67%

Facts In Submission

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
14865000
us-gaap Share Based Compensation
ShareBasedCompensation
2135000
us-gaap Business Combination Provisional Information Initial Accounting Incomplete Adjustment Inventory
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentInventory
395000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
74000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
10000
mec Deferred Compensation And Long Term Incentive Non Cash
DeferredCompensationAndLongTermIncentiveNonCash
11392000
mec Deferred Compensation And Long Term Incentive Non Cash
DeferredCompensationAndLongTermIncentiveNonCash
190000
mec Loss Gain On Extinguishment Or Forgiveness Of Debt
LossGainOnExtinguishmentOrForgivenessOfDebt
367000
mec Loss Gain On Extinguishment Or Forgiveness Of Debt
LossGainOnExtinguishmentOrForgivenessOfDebt
-558000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1786000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2401000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4234000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
4266000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-2290000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
22820000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
76000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
10000
mec Proceeds From Payments For Non Cash Adjustments Investing Activities
ProceedsFromPaymentsForNonCashAdjustmentsInvestingActivities
-1656000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2368000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-26768000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13319000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
367364000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
180061000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
339993000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
179592000
us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
42053000
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
119963000
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
45226000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
84000
us-gaap Interest Paid
InterestPaid
6288000
us-gaap Interest Paid
InterestPaid
2349000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
CY2019Q2 us-gaap Reclassifications Of Temporary To Permanent Equity
ReclassificationsOfTemporaryToPermanentEquity
105449000
CY2019Q2 mec Net Income Loss Post Ipo
NetIncomeLossPostIPO
-15284000
CY2019Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
101763000
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
797000
CY2019Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1592000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
191133000
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1338000
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note 10. Contingencies </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">From time to time, the Company may be involved in various claims and lawsuits, both for and against the Company, arising in the normal course of business. Although the results of litigation and claims cannot be predicted with certainty, in management&#8217;s opinion, either the likelihood of loss is remote, or any reasonably possible loss associated with the resolution of such proceedings is not expected to have a material adverse impact on the consolidated financial statements. </p>
CY2019Q3 mec Business Combination Fair Value Adjustment Of Acquired Inventory
BusinessCombinationFairValueAdjustmentOfAcquiredInventory
1508000
CY2019Q3 us-gaap Business Combination Acquired Receivables Fair Value
BusinessCombinationAcquiredReceivablesFairValue
473000
CY2019Q2 mec Working Capital
WorkingCapital
2368000
CY2018Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
130086000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2019Q2 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
10075
CY2019Q2 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
13443484
CY2018 us-gaap Business Combination Provisional Information Initial Accounting Incomplete Adjustment Inventory
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentInventory
978000
CY2019Q3 mec Business Combination Gain Loss On Contingent Consideration Liability
BusinessCombinationGainLossOnContingentConsiderationLiability
9598000
CY2019Q2 mec Business Combination Gain Loss On Contingent Consideration Liability
BusinessCombinationGainLossOnContingentConsiderationLiability
-2674000
CY2019Q1 mec Business Combination Gain Loss On Contingent Consideration Liability
BusinessCombinationGainLossOnContingentConsiderationLiability
-869000
CY2018 mec Business Combination Gain Loss On Contingent Consideration Liability
BusinessCombinationGainLossOnContingentConsiderationLiability
21000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
1097000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
395866000
CY2018Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
4051000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
14186000
CY2019Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
31615000
CY2018Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
32589000
CY2019Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
11983000
CY2018Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
12329000
CY2019Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
7055000
CY2018Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
8487000
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
286612000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
266399000
CY2019Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
158514000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
142516000
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-883000
mec Goodwill Net Working Capital True Up Adjustments
GoodwillNetWorkingCapitalTrueUpAdjustments
2368000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2019Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
30905000
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
22876000
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
71039000
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
79068000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8029000
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2677000
CY2018Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
939000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2817000
CY2019Q3 us-gaap Other Long Term Debt
OtherLongTermDebt
83000
CY2018Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
121106000
CY2018Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
825000
CY2019Q3 us-gaap Capital Leases Future Minimum Payments Remainder Of Fiscal Year
CapitalLeasesFutureMinimumPaymentsRemainderOfFiscalYear
178000
CY2019Q3 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
712000
CY2019Q3 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
712000
CY2019Q3 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
712000
CY2019Q3 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
712000
CY2019Q3 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
702000
CY2019Q3 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
3728000
CY2019Q3 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
417000
CY2019Q3 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
3311000
CY2019Q3 us-gaap Capital Lease Obligations
CapitalLeaseObligations
3311000
us-gaap Defined Contribution Plan Employers Matching Contribution Annual Vesting Percentage
DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage
0.03
CY2019Q3 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
13443484
CY2018Q4 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
13443484
CY2018Q4 us-gaap Employee Stock Ownership Plan Esop Fair Value Of Shares Subject To Repurchase Obligation
EmployeeStockOwnershipPlanESOPFairValueOfSharesSubjectToRepurchaseObligation
133806000
CY2018 us-gaap Employee Stock Ownership Plan Esop Weighted Average Purchase Price Of Shares Purchased
EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased
9.95
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.1960
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0350
CY2019Q3 mec Discrete Tax Expense
DiscreteTaxExpense
0
mec Discrete Tax Expense
DiscreteTaxExpense
84000
CY2019Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.0000
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.0127
CY2019Q3 mec Discrete Tax Expense Benefit From Establishing Deferred Tax Asset
DiscreteTaxExpenseBenefitFromEstablishingDeferredTaxAsset
0
mec Discrete Tax Expense Benefit From Establishing Deferred Tax Asset
DiscreteTaxExpenseBenefitFromEstablishingDeferredTaxAsset
-784000
CY2019Q3 mec Effective Income Tax Rate Reconciliation Nondeductible Executive Compensation Expense Amount
EffectiveIncomeTaxRateReconciliationNondeductibleExecutiveCompensationExpenseAmount
0
mec Effective Income Tax Rate Reconciliation Nondeductible Executive Compensation Expense Amount
EffectiveIncomeTaxRateReconciliationNondeductibleExecutiveCompensationExpenseAmount
1800000
CY2019Q3 mec Individual Compensation Deductible Limit
IndividualCompensationDeductibleLimit
1000000
mec Individual Compensation Deductible Limit
IndividualCompensationDeductibleLimit
1000000
CY2019Q3 mec Effective Income Tax Rate Reconciliation Nondeductible Executive Compensation Expense Percent
EffectiveIncomeTaxRateReconciliationNondeductibleExecutiveCompensationExpensePercent
0.0000
mec Effective Income Tax Rate Reconciliation Nondeductible Executive Compensation Expense Percent
EffectiveIncomeTaxRateReconciliationNondeductibleExecutiveCompensationExpensePercent
0.2776
CY2019Q3 mec Deferred Tax Assests Tax Holiday
DeferredTaxAssestsTaxHoliday
784000
us-gaap Deferred Compensation Arrangement With Individual Description
DeferredCompensationArrangementWithIndividualDescription
The deferred compensation plan provides benefits payable upon separation of service or death. Payments are to be made 30 days after date of separation from service, either in a lump-sum payment or up to five annual installments as elected by the participant when the participant first elects to defer compensation.
mec Description Of Conditions In Respect Of Long Term Cash Incentives To Eligible Participants
DescriptionOfConditionsInRespectOfLongTermCashIncentivesToEligibleParticipants
Historically, the Company’s long-term incentive plan (LTIP) was available for any employee who had been designated to be eligible to participate by the Compensation Committee of the Board of Directors. Annually, the LTIP provided for long-term cash incentive awards to eligible participants based on the Company’s performance over a three-year performance period.
CY2019Q3 mec Accrued Estimated Medical Benefit Liability
AccruedEstimatedMedicalBenefitLiability
1349000
CY2018Q4 mec Accrued Estimated Medical Benefit Liability
AccruedEstimatedMedicalBenefitLiability
1730000
CY2019Q3 mec Health Care Expenses
HealthCareExpenses
4709000
CY2018Q3 mec Health Care Expenses
HealthCareExpenses
4393000
mec Health Care Expenses
HealthCareExpenses
14875000
mec Health Care Expenses
HealthCareExpenses
14775000
CY2018Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
19405000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
75000
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
24743000
CY2019Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
869000
CY2019Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
2674000
CY2018 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-21000
CY2019Q3 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
6076000
CY2019Q2 us-gaap Stockholders Equity Note Changes In Capital Structure Retroactive Impact
StockholdersEquityNoteChangesInCapitalStructureRetroactiveImpact
On May 13, 2019 the Company issued a stock dividend specific to pre-IPO shares, of approximately 1,334.34-for-1. The share dividend was accounted for as a 1,334.34-for-1 stock split and is retroactively reflected in these consolidated financial statements. All share redemption provisions mentioned in Note 16, Temporary Equity, were removed effective with the IPO. Therefore, common shares were reclassified from temporary equity to permanent equity as of May 2019.
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.213
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0242
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
17
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P10Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsMethodUsed
Black-Scholes option pricing model
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.07
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
287895
CY2019Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1748000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P2Y
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1338000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2135000
CY2019Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
4000

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