2023 Q2 Form 10-Q Financial Statement

#000182387823000035 Filed on August 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q2
Revenue $77.79M $68.35M
YoY Change 13.81% -3.49%
Cost Of Revenue $18.89M $20.92M
YoY Change -9.72% -9.17%
Gross Profit $58.91M $47.43M
YoY Change 24.19% -0.75%
Gross Profit Margin 75.72% 69.39%
Selling, General & Admin $29.47M $28.76M
YoY Change 2.49% -21.4%
% of Gross Profit 50.03% 60.62%
Research & Development $18.38M $14.47M
YoY Change 27.03% -16.34%
% of Gross Profit 31.2% 30.51%
Depreciation & Amortization $1.400M $8.288M
YoY Change -83.11% 1084.0%
% of Gross Profit 2.38% 17.47%
Operating Expenses $47.85M $51.51M
YoY Change -7.11% -4.39%
Operating Profit -$1.846M -$4.081M
YoY Change -54.77% -68.58%
Interest Expense $1.262M
YoY Change
% of Operating Profit
Other Income/Expense, Net $529.0K -$1.157M
YoY Change -145.72% -1097.41%
Pretax Income -$1.317M -$6.755M
YoY Change -80.5% -47.53%
Income Tax -$600.0K -$12.26M
% Of Pretax Income
Net Earnings -$759.0K $5.503M
YoY Change -113.79% -178.22%
Net Earnings / Revenue -0.98% 8.05%
Basic Earnings Per Share -$0.01 $0.04
Diluted Earnings Per Share -$0.01 $37.64K
COMMON SHARES
Basic Shares Outstanding 132.1M shares 127.2M shares
Diluted Shares Outstanding 132.1M shares 146.2M shares

Balance Sheet

Concept 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $127.7M $220.6M
YoY Change -42.14% -4.03%
Cash & Equivalents $127.7M $220.6M
Short-Term Investments
Other Short-Term Assets $4.508M $3.078M
YoY Change 46.46% 537.27%
Inventory
Prepaid Expenses
Receivables $29.02M
Other Receivables $596.0K
Total Short-Term Assets $169.5M $244.0M
YoY Change -30.53% -9.51%
LONG-TERM ASSETS
Property, Plant & Equipment $17.51M $8.331M
YoY Change 110.13% 58.56%
Goodwill $47.13M
YoY Change
Intangibles $77.36M
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.631M $24.50M
YoY Change -85.18% 421.68%
Total Long-Term Assets $176.0M $88.66M
YoY Change 98.47% 37.39%
TOTAL ASSETS
Total Short-Term Assets $169.5M $244.0M
Total Long-Term Assets $176.0M $88.66M
Total Assets $345.5M $332.7M
YoY Change 3.85% -0.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.714M $6.524M
YoY Change -58.4% -24.68%
Accrued Expenses $24.38M $19.97M
YoY Change 22.07% 36.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $38.15M $34.76M
YoY Change 9.74% -20.37%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.384M $2.306M
YoY Change -39.98% 32.6%
Total Long-Term Liabilities $12.07M $2.306M
YoY Change 423.59% -48.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.15M $34.76M
Total Long-Term Liabilities $12.07M $2.306M
Total Liabilities $50.22M $37.07M
YoY Change 35.49% -23.02%
SHAREHOLDERS EQUITY
Retained Earnings $13.43M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $295.2M $295.6M
YoY Change
Total Liabilities & Shareholders Equity $345.5M $332.7M
YoY Change 3.85% -0.45%

Cashflow Statement

Concept 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$759.0K $5.503M
YoY Change -113.79% -178.22%
Depreciation, Depletion And Amortization $1.400M $8.288M
YoY Change -83.11% 1084.0%
Cash From Operating Activities $19.38M $9.357M
YoY Change 107.1% -9.5%
INVESTING ACTIVITIES
Capital Expenditures $6.467M -$6.976M
YoY Change -192.7% 3.55%
Acquisitions
YoY Change
Other Investing Activities -$103.0K $0.00
YoY Change -100.0%
Cash From Investing Activities -$6.570M -$6.976M
YoY Change -5.82% -24.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $559.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -12.08M -1.233M
YoY Change 879.48% -100.65%
NET CHANGE
Cash From Operating Activities 19.38M 9.357M
Cash From Investing Activities -6.570M -6.976M
Cash From Financing Activities -12.08M -1.233M
Net Change In Cash 731.0K 1.148M
YoY Change -36.32% -99.4%
FREE CASH FLOW
Cash From Operating Activities $19.38M $9.357M
Capital Expenditures $6.467M -$6.976M
Free Cash Flow $12.91M $16.33M
YoY Change -20.95% -4.35%

Facts In Submission

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<div style="margin-top:8pt"><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:8pt;text-indent:36pt"><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 US GAAP requires us to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and notes thereto. Significant estimates and assumptions reflected in the Company’s condensed consolidated financial statements include the estimated consumption rate of virtual goods that is used in the determination of revenue recognition, useful lives of property and equipment and definite-lived intangible assets, the expensing and capitalization of research and development costs for internal-use software, assumptions used in accounting for income taxes, stock-based compensation and the evaluation of goodwill and long-lived assets for impairment. The Company believes the accounting estimates are appropriate and reasonably determined. Due to the inherent uncertainties in making these estimates, actual amounts could differ materially.</span></div>
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LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2871000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2541000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1751000 usd
CY2023Q2 myps Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
382000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
14629000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
901000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
13728000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
77793000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
68353000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
157916000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
138804000 usd
CY2023Q2 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
2987000 usd
CY2023Q2 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
1500000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
77793000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
68353000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
157916000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
138804000 usd
CY2023Q2 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
0 usd
CY2022Q4 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
0 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-600000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-12300000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-300000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4400000 usd
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.424
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.815
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.082
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.183
CY2023Q2 myps Contractual Obligation Current
ContractualObligationCurrent
2987000 usd
CY2022Q4 myps Contractual Obligation Current
ContractualObligationCurrent
1500000 usd
CY2023Q2 myps Contractual Obligation Noncurrent
ContractualObligationNoncurrent
1500000 usd
CY2022Q4 myps Contractual Obligation Noncurrent
ContractualObligationNoncurrent
1500000 usd
CY2023Q2 us-gaap Contractual Obligation
ContractualObligation
4487000 usd
CY2022Q4 us-gaap Contractual Obligation
ContractualObligation
3000000 usd
CY2023Q2 myps Contractual Obligation Weighted Average Remaining Term
ContractualObligationWeightedAverageRemainingTerm
P1Y6M
CY2022Q4 myps Contractual Obligation Weighted Average Remaining Term
ContractualObligationWeightedAverageRemainingTerm
P2Y
CY2023Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
0 usd
CY2023Q2 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
0 usd
CY2023Q2 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
0 usd
CY2023Q2 us-gaap Contractual Obligation
ContractualObligation
4487000 usd
CY2023Q2 myps Stock Conversion Ownership Trigger
StockConversionOwnershipTrigger
0.20
CY2023Q2 myps Stock Conversion Founder Death Trigger
StockConversionFounderDeathTrigger
P9M
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-478000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-402000 usd
CY2021Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
50000000 usd
CY2021Q4 us-gaap Stock Repurchase Program Period In Force1
StockRepurchaseProgramPeriodInForce1
P12M
CY2022Q4 us-gaap Stock Repurchase Program Period In Force1
StockRepurchaseProgramPeriodInForce1
P12M
CY2021Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
50000000 usd
CY2023Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
30000000.0 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10008000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1537000 usd
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
43879000 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24337000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
43879000 shares
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

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