2024 Q3 Form 10-Q Financial Statement

#000182885224000123 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $58.33M
YoY Change 2.74%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $64.55M
YoY Change 12.04%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.653M
YoY Change -49.19%
% of Gross Profit
Operating Expenses $68.63M
YoY Change 9.59%
Operating Profit -$10.30M
YoY Change 76.03%
Interest Expense -$12.62M
YoY Change -249.95%
% of Operating Profit
Other Income/Expense, Net -$15.22M
YoY Change 125.47%
Pretax Income -$25.52M
YoY Change 102.51%
Income Tax -$4.000K
% Of Pretax Income
Net Earnings -$25.51M
YoY Change 74.64%
Net Earnings / Revenue -43.74%
Basic Earnings Per Share -$0.36
Diluted Earnings Per Share -$0.36
COMMON SHARES
Basic Shares Outstanding 87.42M shares 85.47M shares
Diluted Shares Outstanding 80.72M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.29M
YoY Change -44.23%
Cash & Equivalents $23.34M
Short-Term Investments $8.951M
Other Short-Term Assets $6.732M
YoY Change -12.57%
Inventory
Prepaid Expenses
Receivables $109.8M
Other Receivables $59.00K
Total Short-Term Assets $148.9M
YoY Change -22.28%
LONG-TERM ASSETS
Property, Plant & Equipment $23.83M
YoY Change 75.73%
Goodwill $82.76M
YoY Change 8.85%
Intangibles $92.29M
YoY Change -0.51%
Long-Term Investments
YoY Change
Other Assets $10.27M
YoY Change 388.39%
Total Long-Term Assets $213.9M
YoY Change 14.07%
TOTAL ASSETS
Total Short-Term Assets $148.9M
Total Long-Term Assets $213.9M
Total Assets $362.8M
YoY Change -4.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $121.8M
YoY Change 3.96%
Accrued Expenses $25.85M
YoY Change 29.27%
Deferred Revenue $5.213M
YoY Change -12.27%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $5.182M
YoY Change -37.19%
Total Short-Term Liabilities $162.2M
YoY Change 4.7%
LONG-TERM LIABILITIES
Long-Term Debt $164.1M
YoY Change 12.78%
Other Long-Term Liabilities $8.088M
YoY Change 161.66%
Total Long-Term Liabilities $172.2M
YoY Change 15.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $162.2M
Total Long-Term Liabilities $172.2M
Total Liabilities $358.7M
YoY Change 10.38%
SHAREHOLDERS EQUITY
Retained Earnings -$386.0M
YoY Change 25.43%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$111.6M
YoY Change
Total Liabilities & Shareholders Equity $362.8M
YoY Change -4.3%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$25.51M
YoY Change 74.64%
Depreciation, Depletion And Amortization $3.653M
YoY Change -49.19%
Cash From Operating Activities -$7.599M
YoY Change -38.75%
INVESTING ACTIVITIES
Capital Expenditures $2.904M
YoY Change -35.09%
Acquisitions
YoY Change
Other Investing Activities -$139.0K
YoY Change -99.37%
Cash From Investing Activities -$3.043M
YoY Change -88.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.294M
YoY Change -138.08%
NET CHANGE
Cash From Operating Activities -7.599M
Cash From Investing Activities -3.043M
Cash From Financing Activities -3.294M
Net Change In Cash -13.94M
YoY Change -54.13%
FREE CASH FLOW
Cash From Operating Activities -$7.599M
Capital Expenditures $2.904M
Free Cash Flow -$10.50M
YoY Change -37.78%

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dei Current Fiscal Year End Date
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dei Security12b Title
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us-gaap Capitalized Computer Software Additions
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us-gaap Nature Of Operations
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NATURE OF OPERATIONS<div style="margin-top:12pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mondee Holdings, Inc. is a Delaware corporation. We refer to Mondee Holdings, Inc. and its subsidiaries collectively as “Mondee,” the “Company,” “us,” “we” and “our” in these condensed consolidated financial statements. Mondee is a rapid-growth, travel technology company and marketplace with a portfolio of globally recognized brands in the leisure and corporate travel sectors.</span></div>
us-gaap Use Of Estimates
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<div style="margin-top:12pt;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%">Use of Estimates</span></div><div style="margin-top:12pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. We evaluate our estimates on an ongoing basis. We base our estimates on our historical experience and also on assumptions that we believe are reasonable; however, actual results could significantly differ from those estimates.</span></div>
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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1500000 usd
us-gaap Concentration Risk Credit Risk
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<div style="margin-top:12pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our business is subject to certain risks and concentrations including dependence on relationships with travel suppliers, primarily airlines, dependence on third-party technology providers, exposure to risks associated with online commerce security and payment related fraud. We also rely on GDS service providers and third-party service providers for certain fulfillment services.</span></div><div style="margin-top:12pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of contract assets and accounts receivable. Significant concentrations are those that represent more than 10% of the Company’s total revenue, total accounts receivable, or total contract assets. As of June 30, 2024, there were two financial institutions with other receivable balances that accounted for more than 10% of total accounts receivable and there were two customers with contract asset balances that accounted for more than 10% of total contract assets. As of December 31, 2023 three parties accounted for more than 10% of total accounts receivable and contract assets. The Company performs credit evaluations of its customers and generally does not require collateral for sales on credit. The Company’s accounts receivable comprises of amounts due from our customers, including airline companies, GDS service providers and banks partnered with our Fintech Program and our SaaS platform users, financial institutions partnered in our receivable process, as well as affiliates.</span></div>
CY2024Q2 us-gaap Derivative Assets
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CY2024Q2 us-gaap Assets Fair Value Disclosure
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us-gaap Maximum Remaining Maturity Of Foreign Currency Derivatives1
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
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us-gaap Number Of Reportable Segments
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2 segment
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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