2024 Q3 Form 10-Q Financial Statement

#000183449424000131 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $80.37M $78.68M
YoY Change 5.07% 4.32%
Cost Of Revenue $27.65M $28.18M
YoY Change 2.36% -1.12%
Gross Profit $52.72M $50.50M
YoY Change 6.55% 7.63%
Gross Profit Margin 65.6% 64.19%
Selling, General & Admin $40.14M $40.70M
YoY Change 22.91% 23.47%
% of Gross Profit 76.14% 80.6%
Research & Development $10.02M $9.905M
YoY Change -10.93% -15.73%
% of Gross Profit 19.0% 19.61%
Depreciation & Amortization $300.0K $400.0K
YoY Change -40.0% -97.23%
% of Gross Profit 0.57% 0.79%
Operating Expenses $50.16M $51.60M
YoY Change 14.24% 15.38%
Operating Profit $2.559M -$1.097M
YoY Change -54.05% -149.86%
Interest Expense -$10.17M -$9.797M
YoY Change -203.94% 5.16%
% of Operating Profit -397.23%
Other Income/Expense, Net -$8.794M -$8.161M
YoY Change 4.22% -1140.94%
Pretax Income -$6.235M -$9.258M
YoY Change 117.32% 31.34%
Income Tax $816.0K $412.0K
% Of Pretax Income
Net Earnings -$7.051M -$9.670M
YoY Change 240.79% 84.89%
Net Earnings / Revenue -8.77% -12.29%
Basic Earnings Per Share -$0.09 -$0.13
Diluted Earnings Per Share -$0.09 -$0.13
COMMON SHARES
Basic Shares Outstanding 75.79M shares 76.71M shares
Diluted Shares Outstanding 75.63M shares 76.53M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $82.27M $93.01M
YoY Change -15.71% -14.57%
Cash & Equivalents $82.27M $93.01M
Short-Term Investments
Other Short-Term Assets $454.0K $767.0K
YoY Change -26.06% -93.22%
Inventory
Prepaid Expenses $7.422M $5.970M
Receivables $36.89M $33.19M
Other Receivables $322.0K $673.0K
Total Short-Term Assets $133.4M $140.3M
YoY Change -7.46% -9.68%
LONG-TERM ASSETS
Property, Plant & Equipment $2.362M $2.664M
YoY Change -35.31% -48.39%
Goodwill $610.1M $610.1M
YoY Change 0.12% 0.24%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.311M $6.622M
YoY Change 27.41% -71.07%
Total Long-Term Assets $834.5M $846.7M
YoY Change -7.39% -7.04%
TOTAL ASSETS
Total Short-Term Assets $133.4M $140.3M
Total Long-Term Assets $834.5M $846.7M
Total Assets $967.9M $986.9M
YoY Change -7.4% -7.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.165M $6.035M
YoY Change 27.19% 45.46%
Accrued Expenses $31.91M $30.61M
YoY Change -6.57% -0.57%
Deferred Revenue $29.77M $28.34M
YoY Change 11.51% 7.74%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.773M $3.768M
YoY Change 6.34% 6.29%
Total Short-Term Liabilities $71.62M $68.75M
YoY Change 3.42% 6.13%
LONG-TERM LIABILITIES
Long-Term Debt $466.1M $467.1M
YoY Change 10.74% 10.73%
Other Long-Term Liabilities $336.0K $390.0K
YoY Change -51.3% -76.87%
Total Long-Term Liabilities $466.5M $467.5M
YoY Change 10.64% 10.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $71.62M $68.75M
Total Long-Term Liabilities $466.5M $467.5M
Total Liabilities $549.6M $547.4M
YoY Change 11.81% 12.11%
SHAREHOLDERS EQUITY
Retained Earnings -$274.1M -$235.8M
YoY Change 200.48% 303.22%
Common Stock $692.4M $675.3M
YoY Change 7.35% 6.13%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $418.3M $439.5M
YoY Change
Total Liabilities & Shareholders Equity $967.9M $986.9M
YoY Change -7.4% -7.43%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$7.051M -$9.670M
YoY Change 240.79% 84.89%
Depreciation, Depletion And Amortization $300.0K $400.0K
YoY Change -40.0% -97.23%
Cash From Operating Activities $20.60M $14.36M
YoY Change -3.31% 135.19%
INVESTING ACTIVITIES
Capital Expenditures $1.860M $1.907M
YoY Change -25.0% -32.11%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$1.860M -$1.907M
YoY Change 46.46% -106.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -29.48M 18.28M
YoY Change -5.97% -818.07%
NET CHANGE
Cash From Operating Activities 20.60M 14.36M
Cash From Investing Activities -1.860M -1.907M
Cash From Financing Activities -29.48M 18.28M
Net Change In Cash -10.74M 30.72M
YoY Change -5.1% -1.13%
FREE CASH FLOW
Cash From Operating Activities $20.60M $14.36M
Capital Expenditures $1.860M $1.907M
Free Cash Flow $18.74M $12.45M
YoY Change -0.45% 277.81%

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Organization and Description of Business<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">MeridianLink, Inc., and its wholly-owned subsidiaries, (collectively, the “Company”) provides secure, cloud-based digital solutions that transform the ways in which traditional and emerging financial services providers engage with account holders and end users. The Company sells its solutions to financial institutions, including banks, credit unions, mortgage lenders, specialty lending providers, and consumer reporting agencies. The Company delivers its solutions to the substantial majority of its customers using a software-as-a-service (“SaaS”) model under which its customers pay subscription fees for the use of the Company’s solutions. The Company is headquartered in Costa Mesa, California.</span></div>
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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the reported amounts of revenues and expenses. Certain items subject to such estimates include the fair value of acquired intangible assets; the capitalization of software development costs; the useful lives of long-lived intangible assets; impairment of goodwill and long-lived assets; and income taxes, including the valuation allowance for deferred income taxes. In accordance with GAAP, management bases its estimates on historical experience and on various other assumptions that management believes are reasonable under the circumstances. Management regularly evaluates its estimates and assumptions using historical experience and other factors; however, actual results could differ significantly from those estimates.</span></div>
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5762000 usd
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3913000 usd
CY2023Q4 us-gaap Capitalized Contract Cost Net Current
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3782000 usd
CY2024Q2 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
673000 usd
CY2023Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
961000 usd
CY2024Q2 us-gaap Other Assets Current
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767000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1069000 usd
CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11323000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11574000 usd
CY2024Q2 us-gaap Hosting Arrangement Service Contract Implementation Cost Capitalized Before Accumulated Amortization
HostingArrangementServiceContractImplementationCostCapitalizedBeforeAccumulatedAmortization
2309000 usd
CY2023Q4 us-gaap Hosting Arrangement Service Contract Implementation Cost Capitalized Before Accumulated Amortization
HostingArrangementServiceContractImplementationCostCapitalizedBeforeAccumulatedAmortization
1779000 usd
CY2024Q2 us-gaap Hosting Arrangement Service Contract Implementation Cost Capitalized Accumulated Amortization
HostingArrangementServiceContractImplementationCostCapitalizedAccumulatedAmortization
257000 usd
CY2023Q4 us-gaap Hosting Arrangement Service Contract Implementation Cost Capitalized Accumulated Amortization
HostingArrangementServiceContractImplementationCostCapitalizedAccumulatedAmortization
208000 usd
CY2024Q2 us-gaap Hosting Arrangement Service Contract Implementation Cost Capitalized After Accumulated Amortization
HostingArrangementServiceContractImplementationCostCapitalizedAfterAccumulatedAmortization
2052000 usd
CY2023Q4 us-gaap Hosting Arrangement Service Contract Implementation Cost Capitalized After Accumulated Amortization
HostingArrangementServiceContractImplementationCostCapitalizedAfterAccumulatedAmortization
1571000 usd
CY2024Q2 us-gaap Hosting Arrangement Service Contract Implementation Cost Expense Amortization
HostingArrangementServiceContractImplementationCostExpenseAmortization
0 usd
CY2023Q2 us-gaap Hosting Arrangement Service Contract Implementation Cost Expense Amortization
HostingArrangementServiceContractImplementationCostExpenseAmortization
0 usd
us-gaap Hosting Arrangement Service Contract Implementation Cost Expense Amortization
HostingArrangementServiceContractImplementationCostExpenseAmortization
0 usd
us-gaap Hosting Arrangement Service Contract Implementation Cost Expense Amortization
HostingArrangementServiceContractImplementationCostExpenseAmortization
0 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12280000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12516000 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9616000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9179000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2664000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3337000 usd
CY2024Q2 us-gaap Depreciation
Depreciation
400000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
500000 usd
us-gaap Depreciation
Depreciation
700000 usd
us-gaap Depreciation
Depreciation
1000000.0 usd
CY2024Q2 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
32819000 usd
CY2024Q2 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
18962000 usd
CY2024Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
13857000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
502994000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
276469000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
226525000 usd
CY2023Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
28997000 usd
CY2023Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
15042000 usd
CY2023Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
13955000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
499172000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
248112000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
251060000 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
14210000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
13929000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
28357000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
27965000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
28365000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
51336000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
45511000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
42546000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
24901000 usd
CY2024Q2 mlnk Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
33866000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
226525000 usd
CY2024Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2023Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
10104000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9501000 usd
CY2024Q2 mlnk Accrued Operating Costs
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4960000 usd
CY2023Q4 mlnk Accrued Operating Costs
AccruedOperatingCosts
3655000 usd
CY2024Q2 us-gaap Accrued Bonuses Current
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4157000 usd
CY2023Q4 us-gaap Accrued Bonuses Current
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6424000 usd
CY2024Q2 mlnk Sales And Excise Tax Payable Acquisitions
SalesAndExciseTaxPayableAcquisitions
3383000 usd
CY2023Q4 mlnk Sales And Excise Tax Payable Acquisitions
SalesAndExciseTaxPayableAcquisitions
3383000 usd
CY2024Q2 mlnk Accrued Costs Of Revenues
AccruedCostsOfRevenues
2655000 usd
CY2023Q4 mlnk Accrued Costs Of Revenues
AccruedCostsOfRevenues
2003000 usd
CY2024Q2 mlnk Customer Deposit Current
CustomerDepositCurrent
1237000 usd
CY2023Q4 mlnk Customer Deposit Current
CustomerDepositCurrent
1302000 usd
CY2024Q2 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
884000 usd
CY2023Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
379000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
685000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
773000 usd
CY2024Q2 mlnk Sales And Excise Tax Payable Other
SalesAndExciseTaxPayableOther
309000 usd
CY2023Q4 mlnk Sales And Excise Tax Payable Other
SalesAndExciseTaxPayableOther
404000 usd
CY2024Q2 mlnk Accrued User Conference Costs Current
AccruedUserConferenceCostsCurrent
0 usd
CY2023Q4 mlnk Accrued User Conference Costs Current
AccruedUserConferenceCostsCurrent
1073000 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2234000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1776000 usd
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
30608000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
30673000 usd
CY2024Q2 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
1500000 usd
CY2024Q2 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
1131000 usd
CY2024Q2 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
1115000 usd
CY2024Q2 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
975000 usd
CY2024Q2 mlnk Purchase Obligation To Be Paid After Year Two
PurchaseObligationToBePaidAfterYearTwo
0 usd
CY2024Q2 us-gaap Purchase Obligation
PurchaseObligation
3221000 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
427388000 usd
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
4268000 usd
CY2023Q4 us-gaap Deferred Finance Costs Net
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3842000 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
470841000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
423546000 usd
CY2024Q2 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
995000 usd
CY2023Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
808000 usd
CY2024Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
3768000 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
3542000 usd
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
467073000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
420004000 usd
CY2024Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
300000 usd
CY2023Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
400000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
500000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
700000 usd
CY2024Q2 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
9500000 usd
CY2023Q2 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
8900000 usd
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
18900000 usd
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
17800000 usd
CY2021Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
4400000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2381000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
4763000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4763000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
4763000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
458439000 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
475109000 usd
CY2022Q2 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
75000000.0 usd
CY2024Q1 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
125000000 usd
CY2024Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
44400000 usd
CY2024Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1553894 shares
CY2023Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
107978 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
3959909 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
336507 shares
CY2024Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
29916000 usd
CY2023Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1646000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
74293000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
5145000 usd
CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
61300000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3976372 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.53
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y8M4D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
49670000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
113206 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
6.38
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
51117 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
23.52
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3812049 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.56
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y2M4D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
37178000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
3812049 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
12.56
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y2M4D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
37178000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3174663 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
10.96
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y10M20D
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
35525000 usd
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
2300000 usd
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
2600000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3500000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3700000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1200000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
600000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1600000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1400000 usd
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
5800000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y6M
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
7235075 shares
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
69899 shares
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12626000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9002000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20429000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13893000 usd
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.045
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.258
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.031
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.217
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
33200000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
29400000 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3900000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3500000 usd
CY2024Q2 us-gaap Profit Loss
ProfitLoss
-9670000 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
-5230000 usd
us-gaap Profit Loss
ProfitLoss
-14976000 usd
us-gaap Profit Loss
ProfitLoss
-10896000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76527803 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80911113 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76923824 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80786427 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76527803 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
80911113 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76923824 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
80786427 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76527803 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80911113 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76923824 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80786427 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76527803 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
80911113 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76923824 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
80786427 shares
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11054677 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2283546 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11060404 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2385266 shares
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
0 usd
us-gaap Restructuring Charges
RestructuringCharges
4179000 usd
us-gaap Payments For Restructuring
PaymentsForRestructuring
3361000 usd
CY2024Q2 us-gaap Restructuring Reserve
RestructuringReserve
818000 usd
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
0 usd
us-gaap Restructuring Charges
RestructuringCharges
3621000 usd
us-gaap Payments For Restructuring
PaymentsForRestructuring
3146000 usd
CY2023Q2 us-gaap Restructuring Reserve
RestructuringReserve
475000 usd
CY2024Q2 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
1500000 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001834494-24-000131.txt Edgar Link pending
0001834494-24-000131-xbrl.zip Edgar Link pending
exhibit311toq22024form10-q.htm Edgar Link pending
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