2023 Q4 Form 10-K Financial Statement

#000132680124000012 Filed on February 02, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $40.11B $134.9B
YoY Change 24.7% 15.69%
Cost Of Revenue $7.602B $25.96B
YoY Change -8.81% 2.81%
Gross Profit $32.51B $108.9B
YoY Change 36.43% 19.25%
Gross Profit Margin 81.05% 80.76%
Selling, General & Admin $5.211B $23.71B
YoY Change -31.96% -12.44%
% of Gross Profit 16.03% 21.76%
Research & Development $9.807B $38.48B
YoY Change 0.37% 8.9%
% of Gross Profit 30.17% 35.32%
Depreciation & Amortization $3.172B $11.18B
YoY Change 33.5% 28.69%
% of Gross Profit 9.76% 10.26%
Operating Expenses $15.02B $62.19B
YoY Change -13.84% -0.36%
Operating Profit $17.49B $46.75B
YoY Change 173.34% 61.52%
Interest Expense $391.0M $446.0M
YoY Change 339.33% 128.72%
% of Operating Profit 2.24% 0.95%
Other Income/Expense, Net $32.00M $677.0M
YoY Change -109.44% -641.6%
Pretax Income $16.81B $47.43B
YoY Change 173.33% 64.57%
Income Tax $1.650B $8.330B
% Of Pretax Income 9.82% 17.56%
Net Earnings $14.02B $39.10B
YoY Change 201.25% 68.53%
Net Earnings / Revenue 34.95% 28.98%
Basic Earnings Per Share $15.19
Diluted Earnings Per Share $5.29 $14.87
COMMON SHARES
Basic Shares Outstanding 2.574B shares
Diluted Shares Outstanding 2.629B shares

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.40B $65.40B
YoY Change 60.55% 60.55%
Cash & Equivalents $41.86B $35.60B
Short-Term Investments $23.54B $23.54B
Other Short-Term Assets $3.793B $3.793B
YoY Change -29.04% -29.04%
Inventory
Prepaid Expenses
Receivables $16.17B $16.17B
Other Receivables $0.00 $0.00
Total Short-Term Assets $85.37B $85.37B
YoY Change 43.35% 43.35%
LONG-TERM ASSETS
Property, Plant & Equipment $109.9B $109.9B
YoY Change 19.19% 19.19%
Goodwill $20.65B
YoY Change 1.71%
Intangibles $788.0M
YoY Change -12.15%
Long-Term Investments $58.00M $6.141B
YoY Change 241.18% -0.97%
Other Assets $6.794B $6.794B
YoY Change 3.21% 3.21%
Total Long-Term Assets $144.3B $144.3B
YoY Change 14.33% 14.33%
TOTAL ASSETS
Total Short-Term Assets $85.37B $85.37B
Total Long-Term Assets $144.3B $144.3B
Total Assets $229.6B $229.6B
YoY Change 23.63% 23.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.712B $5.712B
YoY Change -6.47% -6.47%
Accrued Expenses $24.63B $17.09B
YoY Change 25.95% 24.96%
Deferred Revenue $626.0M
YoY Change 29.88%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $90.00M $90.00M
YoY Change -30.23% -30.23%
Total Short-Term Liabilities $31.96B $31.96B
YoY Change 18.26% 18.26%
LONG-TERM LIABILITIES
Long-Term Debt $18.39B $18.99B
YoY Change 85.28% 81.14%
Other Long-Term Liabilities $8.884B $25.51B
YoY Change 14.43% 13.34%
Total Long-Term Liabilities $27.27B $44.50B
YoY Change 54.18% 34.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.96B $31.96B
Total Long-Term Liabilities $27.27B $44.50B
Total Liabilities $76.46B $76.46B
YoY Change 27.4% 27.4%
SHAREHOLDERS EQUITY
Retained Earnings $82.07B
YoY Change 26.65%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $153.2B $153.2B
YoY Change
Total Liabilities & Shareholders Equity $229.6B $229.6B
YoY Change 23.63% 23.63%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $14.02B $39.10B
YoY Change 201.25% 68.53%
Depreciation, Depletion And Amortization $3.172B $11.18B
YoY Change 33.5% 28.69%
Cash From Operating Activities $19.40B $71.11B
YoY Change 33.72% 40.89%
INVESTING ACTIVITIES
Capital Expenditures $7.665B $27.27B
YoY Change -15.24% -13.25%
Acquisitions
YoY Change
Other Investing Activities $1.193B $23.00M
YoY Change -21.1% -2400.0%
Cash From Investing Activities -$6.472B -$24.50B
YoY Change -14.06% -15.45%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change
Common Stock Issuance & Retirement, Net $19.77B
YoY Change -29.27%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.401B -$19.50B
YoY Change 18.99% -11.91%
NET CHANGE
Cash From Operating Activities 19.40B $71.11B
Cash From Investing Activities -6.472B -$24.50B
Cash From Financing Activities -8.401B -$19.50B
Net Change In Cash 4.531B $27.23B
YoY Change -5763.75% -2245.86%
FREE CASH FLOW
Cash From Operating Activities $19.40B $71.11B
Capital Expenditures $7.665B $27.27B
Free Cash Flow $11.74B $43.85B
YoY Change 114.69% 130.24%

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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Credit Risk and Concentration</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our financial instruments that are potentially subject to concentrations of credit risk consist primarily of cash, cash equivalents, restricted cash, marketable securities, and accounts receivable. Cash equivalents consists mostly of money market funds, that primarily invest in U.S. government and agency securities. Marketable securities consist of investments in U.S. government securities, U.S. government agency securities, and investment grade corporate debt securities. As part of our cash management strategy, we concentrate cash deposits with large financial institutions and our marketable securities are held in diversified highly rated securities. Our investment portfolio in corporate debt securities is highly liquid and diversified among individual issuers. The amount of credit losses recorded for the year ended December 31, 2023 was not material.</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accounts receivable are typically unsecured and are derived from revenue earned from customers across different industries and countries. We generated 37%, 40%, and 41% of our revenue for the years ended December 31, 2023, 2022, and 2021, respectively, from marketers and developers based in the United States, with a majority of the revenue outside of the United States in 2023 coming from customers located in western Europe, China, Brazil, Australia, Canada and Japan.</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We perform ongoing credit evaluations of our customers and generally do not require collateral. We maintain an allowance for estimated credit losses, and bad debt expense on these losses was not material during the years ended </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December 31, 2023, 2022, or 2021. In the event that accounts receivable collection cycles deteriorate, our operating results and financial position could be adversely affected.</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">No customer represented 10% or more of total revenue during the years ended December 31, 2023, 2022, and 2021.</span></div>
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Files In Submission

Name View Source Status
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