2024 Q2 Form 10-Q Financial Statement

#000182387824000034 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q2
Revenue $72.59M $77.79M
YoY Change -6.69% 13.81%
Cost Of Revenue $18.07M $18.89M
YoY Change -4.34% -9.72%
Gross Profit $54.52M $58.91M
YoY Change -7.44% 24.19%
Gross Profit Margin 75.11% 75.72%
Selling, General & Admin $28.71M $29.47M
YoY Change -2.59% 2.49%
% of Gross Profit 52.66% 50.03%
Research & Development $16.74M $18.38M
YoY Change -8.91% 27.03%
% of Gross Profit 30.71% 31.2%
Depreciation & Amortization $1.300M $1.400M
YoY Change -7.14% -83.11%
% of Gross Profit 2.38% 2.38%
Operating Expenses $45.45M $47.85M
YoY Change -5.02% -7.11%
Operating Profit -$3.963M -$1.846M
YoY Change 114.68% -54.77%
Interest Expense $1.374M $1.262M
YoY Change 8.87%
% of Operating Profit
Other Income/Expense, Net $1.827M $529.0K
YoY Change 245.37% -145.72%
Pretax Income -$2.136M -$1.317M
YoY Change 62.19% -80.5%
Income Tax $500.0K -$600.0K
% Of Pretax Income
Net Earnings -$2.611M -$759.0K
YoY Change 244.01% -113.79%
Net Earnings / Revenue -3.6% -0.98%
Basic Earnings Per Share -$0.02 -$0.01
Diluted Earnings Per Share -$0.02 -$0.01
COMMON SHARES
Basic Shares Outstanding 132.5M shares 132.1M shares
Diluted Shares Outstanding 132.5M shares 132.1M shares

Balance Sheet

Concept 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $106.3M $127.7M
YoY Change -16.73% -42.14%
Cash & Equivalents $106.3M $127.7M
Short-Term Investments
Other Short-Term Assets $689.0K $4.508M
YoY Change -84.72% 46.46%
Inventory
Prepaid Expenses
Receivables $28.79M $29.02M
Other Receivables $571.0K $596.0K
Total Short-Term Assets $147.0M $169.5M
YoY Change -13.28% -30.53%
LONG-TERM ASSETS
Property, Plant & Equipment $18.26M $17.51M
YoY Change 4.28% 110.13%
Goodwill $47.13M $47.13M
YoY Change 0.0%
Intangibles $104.7M $77.36M
YoY Change 35.29%
Long-Term Investments
YoY Change
Other Assets $2.992M $3.631M
YoY Change -17.6% -85.18%
Total Long-Term Assets $186.4M $176.0M
YoY Change 5.96% 98.47%
TOTAL ASSETS
Total Short-Term Assets $147.0M $169.5M
Total Long-Term Assets $186.4M $176.0M
Total Assets $333.4M $345.5M
YoY Change -3.48% 3.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.745M $2.714M
YoY Change 37.99% -58.4%
Accrued Expenses $28.03M $24.38M
YoY Change 14.98% 22.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $35.49M $38.15M
YoY Change -6.97% 9.74%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.203M $1.384M
YoY Change -13.08% -39.98%
Total Long-Term Liabilities $34.39M $12.07M
YoY Change 184.86% 423.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.49M $38.15M
Total Long-Term Liabilities $34.39M $12.07M
Total Liabilities $69.88M $50.22M
YoY Change 39.14% 35.49%
SHAREHOLDERS EQUITY
Retained Earnings -$5.815M $13.43M
YoY Change -143.31%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $263.6M $295.2M
YoY Change
Total Liabilities & Shareholders Equity $333.4M $345.5M
YoY Change -3.48% 3.85%

Cashflow Statement

Concept 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$2.611M -$759.0K
YoY Change 244.01% -113.79%
Depreciation, Depletion And Amortization $1.300M $1.400M
YoY Change -7.14% -83.11%
Cash From Operating Activities $14.53M $19.38M
YoY Change -25.0% 107.1%
INVESTING ACTIVITIES
Capital Expenditures $6.508M $6.467M
YoY Change 0.63% -192.7%
Acquisitions
YoY Change
Other Investing Activities -$30.00K -$103.0K
YoY Change -70.87%
Cash From Investing Activities -$6.538M -$6.570M
YoY Change -0.49% -5.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -28.18M -12.08M
YoY Change 133.34% 879.48%
NET CHANGE
Cash From Operating Activities 14.53M 19.38M
Cash From Investing Activities -6.538M -6.570M
Cash From Financing Activities -28.18M -12.08M
Net Change In Cash -20.19M 731.0K
YoY Change -2861.42% -36.32%
FREE CASH FLOW
Cash From Operating Activities $14.53M $19.38M
Capital Expenditures $6.508M $6.467M
Free Cash Flow $8.025M $12.91M
YoY Change -37.84% -20.95%

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, the fair value of derivative financial instruments, the fair value of contingent consideration, 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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CY2024Q2 us-gaap Operating Lease Liability
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CY2024Q2 myps Contractual Obligation Current
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CY2024Q2 us-gaap Contractual Obligation
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CY2023Q4 us-gaap Contractual Obligation
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CY2023Q4 myps Contractual Obligation Weighted Average Remaining Term
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CY2024Q2 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
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5411000 usd
CY2024Q2 us-gaap Contractual Obligation Due In Next Twelve Months
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CY2024Q2 us-gaap Treasury Stock Common Value
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48763000 usd
CY2021Q4 srt Stock Repurchase Program Authorized Amount1
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CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
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