2020 Q4 Form 10-Q Financial Statement

#000114036120024135 Filed on October 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q4
Revenue $145.7M $136.9M $69.75M
YoY Change 108.88% 175.61% 122.36%
Cost Of Revenue $58.90M $71.67M $60.10M
YoY Change -2.0% 56.36% 121.77%
Gross Profit $86.80M $65.19M $9.600M
YoY Change 804.17% 1604.84% 123.26%
Gross Profit Margin 59.58% 47.64% 13.76%
Selling, General & Admin $58.80M $26.82M $38.40M
YoY Change 53.13% -34.44% 52.99%
% of Gross Profit 67.74% 41.14% 400.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.27M $9.370M $2.440M
YoY Change 320.9% 410.07% 93.65%
% of Gross Profit 11.83% 14.37% 25.42%
Operating Expenses $68.80M $26.82M $40.60M
YoY Change 69.46% -34.44% 54.96%
Operating Profit $18.03M $11.05M -$36.25M
YoY Change -149.74% -123.16% 65.09%
Interest Expense -$14.10M $19.81M -$5.000M
YoY Change 182.0% 298.33% 2.04%
% of Operating Profit -78.2% 179.25%
Other Income/Expense, Net -$1.500M -$2.569M $2.900M
YoY Change -151.72% 43.68% 866.67%
Pretax Income $2.400M -$34.83M -$38.30M
YoY Change -106.27% -36.07% 7.89%
Income Tax $2.900M $1.836M $100.0K
% Of Pretax Income 120.83%
Net Earnings $170.0K -$36.36M -$7.343M
YoY Change -102.32% 440.8% -78.86%
Net Earnings / Revenue 0.12% -26.57% -10.53%
Basic Earnings Per Share -$0.21
Diluted Earnings Per Share $1.166K -$0.21 -$299.2K
COMMON SHARES
Basic Shares Outstanding 168.7M 170.1M
Diluted Shares Outstanding 170.1M

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $601.5M $112.7M $27.10M
YoY Change 2119.56% -36.76% -65.39%
Cash & Equivalents $601.5M $153.4M $27.10M
Short-Term Investments
Other Short-Term Assets $22.13M $17.09M $23.60M
YoY Change -6.25% -76.17% 118.78%
Inventory $22.86M $19.40M $63.43M
Prepaid Expenses $16.93M $5.138M $7.458M
Receivables $76.54M $93.10M $49.89M
Other Receivables $0.00 $0.00 $1.100M
Total Short-Term Assets $762.0M $280.5M $211.1M
YoY Change 260.94% -11.47% 37.29%
LONG-TERM ASSETS
Property, Plant & Equipment $989.6M $968.7M $658.8M
YoY Change 50.21% 64.72% 88.93%
Goodwill $0.00
YoY Change
Intangibles $46.10M $44.38M $43.54M
YoY Change 5.88% 1.12%
Long-Term Investments $0.00 $200.0K $2.500M
YoY Change -100.0% -86.67% -32.43%
Other Assets $86.03M $83.61M $84.17M
YoY Change 2.21% 28.05% 138.73%
Total Long-Term Assets $1.146B $1.119B $912.7M
YoY Change 25.57% 34.7% 67.28%
TOTAL ASSETS
Total Short-Term Assets $762.0M $280.5M $211.1M
Total Long-Term Assets $1.146B $1.119B $912.7M
Total Assets $1.908B $1.400B $1.124B
YoY Change 69.79% 21.96% 60.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.33M $92.80M $11.59M
YoY Change 84.0% 442.5% -73.15%
Accrued Expenses $90.35M $52.61M $54.94M
YoY Change 64.45% 3.56% -18.62%
Deferred Revenue $7.120M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $191.2M $222.3M $102.3M
YoY Change 86.92% -62.89% -74.73%
LONG-TERM LIABILITIES
Long-Term Debt $1.240B $980.2M $619.1M
YoY Change 100.23% 766.18%
Other Long-Term Liabilities $15.64M $98.50M $14.93M
YoY Change 4.77% 555.14% 24.41%
Total Long-Term Liabilities $1.255B $1.079B $634.0M
YoY Change 97.99% 741.43% 5183.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $191.2M $222.3M $102.3M
Total Long-Term Liabilities $1.255B $1.079B $634.0M
Total Liabilities $1.533B $1.309B $736.5M
YoY Change 108.15% 79.97% 76.72%
SHAREHOLDERS EQUITY
Retained Earnings -$229.5M -$45.82M
YoY Change 400.85% -71.08%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $600.0K $0.00
Shareholders Equity $367.0M $90.70M $84.81M
YoY Change
Total Liabilities & Shareholders Equity $1.908B $1.400B $1.124B
YoY Change 69.79% 21.96% 60.68%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q4
OPERATING ACTIVITIES
Net Income $170.0K -$36.36M -$7.343M
YoY Change -102.32% 440.8% -78.86%
Depreciation, Depletion And Amortization $10.27M $9.370M $2.440M
YoY Change 320.9% 410.07% 93.65%
Cash From Operating Activities -$9.860M -$35.39M -$79.50M
YoY Change -87.6% -43.55% 98.4%
INVESTING ACTIVITIES
Capital Expenditures -$41.16M -$20.42M -$81.41M
YoY Change -49.44% -67.74% 19.21%
Acquisitions
YoY Change
Other Investing Activities -$780.0K $60.00K $290.0K
YoY Change -368.97% -53.85% -102.63%
Cash From Investing Activities -$41.93M -$20.36M -$81.12M
YoY Change -48.31% -67.76% 2.28%
FINANCING ACTIVITIES
Cash Dividend Paid $16.87M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 527.7M -14.21M 9.610M
YoY Change 5390.95% -112.7% -92.87%
NET CHANGE
Cash From Operating Activities -9.860M -35.39M -79.50M
Cash From Investing Activities -41.93M -20.36M -81.12M
Cash From Financing Activities 527.7M -14.21M 9.610M
Net Change In Cash 475.9M -69.96M -151.0M
YoY Change -415.14% 401.15% -1085.7%
FREE CASH FLOW
Cash From Operating Activities -$9.860M -$35.39M -$79.50M
Capital Expenditures -$41.16M -$20.42M -$81.41M
Free Cash Flow $31.30M -$14.97M $1.910M
YoY Change 1538.74% -2595.0% -93.23%

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us-gaap Inventory Write Down
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CY2020Q3 us-gaap Inventory Write Down
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us-gaap Inventory Write Down
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CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
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CY2020Q3 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
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EquitySecuritiesNumberOfShares
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EquitySecuritiesNumberOfShares
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CY2020Q3 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
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CY2019Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
2540000
CY2020Q3 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-159000
CY2019Q3 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
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EquitySecuritiesFvNiUnrealizedGainLoss
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nfe Construction In Progress Transferred To Property Plant And Equipment Net
ConstructionInProgressTransferredToPropertyPlantAndEquipmentNet
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CY2020Q3 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
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FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2019Q4 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
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us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
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CY2019 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
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CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2019Q3 us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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CY2019Q4 us-gaap Property Plant And Equipment Other Net
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Depreciation
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Depreciation
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Depreciation
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CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
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CY2019Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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CY2020Q3 us-gaap Capitalized Contract Cost Net Noncurrent
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CY2019Q4 us-gaap Capitalized Contract Cost Net Noncurrent
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CY2019Q4 nfe Unbilled Receivables Net Non Current
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0
CY2020Q3 nfe Upfront Payments To Customers Non Current
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5660000
CY2019Q4 nfe Upfront Payments To Customers Non Current
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CY2020Q3 us-gaap Other Assets Miscellaneous Noncurrent
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nfe Number Of Sales Contracts
NumberOfSalesContracts
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CY2020Q3 us-gaap Construction Payable Current
ConstructionPayableCurrent
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CY2019Q4 us-gaap Construction Payable Current
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CY2020Q3 us-gaap Interest Payable Current
InterestPayableCurrent
5437000
CY2019Q4 us-gaap Interest Payable Current
InterestPayableCurrent
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CY2020Q3 us-gaap Accrued Bonuses Current
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12842000
CY2019Q4 us-gaap Accrued Bonuses Current
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CY2020Q3 us-gaap Other Accrued Liabilities Current
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CY2019Q4 us-gaap Other Accrued Liabilities Current
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14915000
CY2020Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
52606000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
54943000
CY2020Q3 us-gaap Long Term Debt
LongTermDebt
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CY2019Q4 us-gaap Long Term Debt
LongTermDebt
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CY2020Q2 nfe Percentage Of Operations Included In Income Tax Provision
PercentageOfOperationsIncludedInIncomeTaxProvision
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CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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EffectiveIncomeTaxRateContinuingOperations
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EffectiveIncomeTaxRateContinuingOperations
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1949000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
337000
CY2020Q3 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
CY2019Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2020Q3 us-gaap Profit Loss
ProfitLoss
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CY2019Q3 us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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CY2020Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2020Q3 us-gaap Net Income Loss
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CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22692104
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
85009385
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.21
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2034017
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
17006000
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2020Q3 us-gaap Payments Of Dividends
PaymentsOfDividends
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CY2020Q3 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
1749000
CY2019Q3 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
1952000
us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
5894000
us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
6472000
CY2020Q3 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
242000
CY2019Q3 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
1306000
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
1526000
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
2931000
CY2020Q3 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
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CY2019Q4 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
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CY2020Q3 us-gaap Due From Affiliates
DueFromAffiliates
1558000
CY2019Q4 us-gaap Due From Affiliates
DueFromAffiliates
1577000

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