2017 Q4 Form 10-Q Financial Statement

#000162828017011189 Filed on November 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $152.4M $1.663M $3.255M
YoY Change 2883.92% -48.91% -77.83%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.400M $8.400M $7.200M
YoY Change -8.7% 16.67% 20.0%
% of Gross Profit
Research & Development $39.00M $40.98M $30.30M
YoY Change 25.4% 35.28% 25.71%
% of Gross Profit
Depreciation & Amortization $1.340M $1.910M $2.070M
YoY Change -32.32% -7.73% 322.45%
% of Gross Profit
Operating Expenses $47.40M $40.98M $30.30M
YoY Change 17.62% 35.28% 0.65%
Operating Profit -$47.72M -$34.27M
YoY Change 39.28%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $800.0K $681.0K $419.0K
YoY Change 60.0% 62.53%
Pretax Income $105.7M -$47.00M -$33.80M
YoY Change -403.74% 39.05% 119.48%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $105.7M -$47.04M -$33.85M
YoY Change -403.96% 38.99% 119.18%
Net Earnings / Revenue 69.39% -2828.8% -1039.82%
Basic Earnings Per Share $2.87 -$1.28 -$0.97
Diluted Earnings Per Share $2.80 -$1.28 -$0.97
COMMON SHARES
Basic Shares Outstanding 36.82M shares 36.78M shares 34.77M shares
Diluted Shares Outstanding 36.78M shares 34.77M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $305.1M $203.6M $311.1M
YoY Change 10.14% -34.55% -14.95%
Cash & Equivalents $211.7M $90.88M $109.9M
Short-Term Investments $93.40M $112.8M $201.2M
Other Short-Term Assets $3.600M $3.700M $2.100M
YoY Change -14.29% 76.19% 5.0%
Inventory
Prepaid Expenses $3.151M $3.261M
Receivables $13.64M $2.194M $3.000M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $322.3M $209.5M $316.3M
YoY Change 13.51% -33.78% -14.63%
LONG-TERM ASSETS
Property, Plant & Equipment $49.98M $30.84M $18.50M
YoY Change 178.29% 66.69% 60.87%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $3.000M
YoY Change -100.0% -100.0%
Other Assets $1.602M $1.541M $2.100M
YoY Change 17.02% -26.62% 0.0%
Total Long-Term Assets $51.59M $32.38M $23.60M
YoY Change 88.85% 37.2% 73.53%
TOTAL ASSETS
Total Short-Term Assets $322.3M $209.5M $316.3M
Total Long-Term Assets $51.59M $32.38M $23.60M
Total Assets $373.9M $241.8M $339.9M
YoY Change 20.12% -28.85% -11.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.451M $1.680M $1.400M
YoY Change -38.65% 20.0% -44.0%
Accrued Expenses $38.58M $25.50M $15.40M
YoY Change 139.13% 65.59% 69.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $300.0K $700.0K $1.500M
YoY Change -81.25% -53.33% -25.0%
Total Short-Term Liabilities $49.76M $32.44M $22.10M
YoY Change 82.24% 46.78% -1.34%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $700.0K
YoY Change -100.0% -100.0% -78.13%
Other Long-Term Liabilities $24.90M $19.90M $17.00M
YoY Change 67.11% 17.06% -11.46%
Total Long-Term Liabilities $24.90M $19.90M $17.70M
YoY Change 63.82% 12.43% -20.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $49.76M $32.44M $22.10M
Total Long-Term Liabilities $24.90M $19.90M $17.70M
Total Liabilities $74.65M $52.38M $39.80M
YoY Change 75.59% 31.61% -11.16%
SHAREHOLDERS EQUITY
Retained Earnings -$312.3M -$418.1M
YoY Change 6.7%
Common Stock $611.6M $607.6M
YoY Change 8.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $299.2M $189.5M $300.1M
YoY Change
Total Liabilities & Shareholders Equity $373.9M $241.8M $339.9M
YoY Change 20.12% -28.85% -11.51%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $105.7M -$47.04M -$33.85M
YoY Change -403.96% 38.99% 119.18%
Depreciation, Depletion And Amortization $1.340M $1.910M $2.070M
YoY Change -32.32% -7.73% 322.45%
Cash From Operating Activities $111.9M -$31.35M $49.79M
YoY Change -494.81% -162.96% -751.7%
INVESTING ACTIVITIES
Capital Expenditures -$10.75M -$9.850M -$1.980M
YoY Change 914.15% 397.47% -24.14%
Acquisitions
YoY Change
Other Investing Activities $19.40M $14.31M -$1.180M
YoY Change 527.83% -1312.71%
Cash From Investing Activities $8.640M $4.470M -$3.160M
YoY Change 325.62% -241.46% 21.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 360.0K 1.150M 1.010M
YoY Change -26.53% 13.86% -99.28%
NET CHANGE
Cash From Operating Activities 111.9M -31.35M 49.79M
Cash From Investing Activities 8.640M 4.470M -3.160M
Cash From Financing Activities 360.0K 1.150M 1.010M
Net Change In Cash 120.9M -25.73M 47.64M
YoY Change -568.23% -154.01% -63.56%
FREE CASH FLOW
Cash From Operating Activities $111.9M -$31.35M $49.79M
Capital Expenditures -$10.75M -$9.850M -$1.980M
Free Cash Flow $122.6M -$21.50M $51.77M
YoY Change -549.58% -141.53% -1129.22%

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CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
40984000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
108246000 USD
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
1891000 USD
CY2017Q3 us-gaap Restructuring Reserve
RestructuringReserve
715000 USD
CY2016Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
1593000 USD
CY2017Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
715000 USD
CY2016Q4 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
298000 USD
CY2017Q3 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
0 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-292714000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-418067000 USD
CY2016Q3 us-gaap Revenue From Grants
RevenueFromGrants
1241000 USD
us-gaap Revenue From Grants
RevenueFromGrants
4370000 USD
CY2017Q3 us-gaap Revenue From Grants
RevenueFromGrants
587000 USD
us-gaap Revenue From Grants
RevenueFromGrants
1948000 USD
CY2016Q3 us-gaap Revenues
Revenues
3255000 USD
us-gaap Revenues
Revenues
86774000 USD
CY2017Q3 us-gaap Revenues
Revenues
1663000 USD
us-gaap Revenues
Revenues
5383000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.02
CY2016Q3 us-gaap Share Based Compensation
ShareBasedCompensation
3003000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9126000 USD
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
4001000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
11064000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2704057 shares
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
16.86
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3700000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
304259 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
1219725 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
12.56
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
18050000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3838060 shares
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4533794 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.93
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
19.71
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
17993000 USD
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
4352976 shares
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
19.48
CY2017Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
17254000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y2M12D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y2M19D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y2M12D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
10700000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
219732 shares
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
268751000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
189465000 USD
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34766440 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34629330 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36779305 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35847449 shares
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34766440 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34629330 shares
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
36779305 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
35847449 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34766440 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34629330 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36779305 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35847449 shares

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