2022 Q3 Form 10-Q Financial Statement

#000162828022021138 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $228.1M $208.8M $191.2M
YoY Change 7.63% 9.74% -10.41%
Cost Of Revenue $57.64M $57.71M $47.66M
YoY Change 11.61% 6.07% -13.18%
Gross Profit $170.4M $151.1M $143.5M
YoY Change 6.34% 11.21% -9.39%
Gross Profit Margin 74.73% 72.36% 75.07%
Selling, General & Admin $91.38M $101.1M $94.81M
YoY Change 3.07% 13.99% 13.41%
% of Gross Profit 53.61% 66.92% 66.06%
Research & Development $43.92M $43.46M $42.19M
YoY Change -1.27% 1.49% -3.23%
% of Gross Profit 25.77% 28.76% 29.4%
Depreciation & Amortization $13.80M $21.59M $23.74M
YoY Change -42.52% -10.94% -9.4%
% of Gross Profit 8.1% 14.29% 16.54%
Operating Expenses $149.1M $160.2M $151.8M
YoY Change 0.67% 9.35% 6.63%
Operating Profit $21.34M -$9.127M -$8.319M
YoY Change 75.45% -14.44% -151.99%
Interest Expense -$2.024M $1.864M -$1.591M
YoY Change -183.95% -13.46% -27.68%
% of Operating Profit -9.48%
Other Income/Expense, Net -$2.024M -$1.358M $428.0K
YoY Change -13.36% -43.88% -153.5%
Pretax Income $19.38M -$10.49M -$9.482M
YoY Change 97.16% -19.88% -172.94%
Income Tax $1.996M -$3.353M -$1.076M
% Of Pretax Income 10.3%
Net Earnings $17.38M -$7.132M -$8.406M
YoY Change 120.15% -37.11% -173.74%
Net Earnings / Revenue 7.62% -3.42% -4.4%
Basic Earnings Per Share $0.24 -$0.10
Diluted Earnings Per Share $238.5K -$0.10 -$113.7K
COMMON SHARES
Basic Shares Outstanding 71.48M shares 72.45M shares 73.83M shares
Diluted Shares Outstanding 72.89M shares 72.45M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $367.1M $374.6M $703.2M
YoY Change -22.84% -24.15% 47.58%
Cash & Equivalents $367.1M $332.5M $636.2M
Short-Term Investments $46.81M $42.14M $67.04M
Other Short-Term Assets $58.07M $31.75M $32.93M
YoY Change 126.58% 33.53% 21.95%
Inventory $24.06M $22.84M $28.22M
Prepaid Expenses
Receivables $139.1M $112.9M $148.2M
Other Receivables $0.00 $21.27M $9.349M
Total Short-Term Assets $588.4M $563.4M $921.9M
YoY Change -16.13% -19.08% 27.61%
LONG-TERM ASSETS
Property, Plant & Equipment $88.51M $40.33M $41.34M
YoY Change 96.65% -14.15% -14.72%
Goodwill $1.733B $1.726B $1.723B
YoY Change 0.9% 0.59% 0.33%
Intangibles $393.7M $415.0M $433.4M
YoY Change -17.01% -16.06% -15.34%
Long-Term Investments
YoY Change
Other Assets $18.16M $12.64M $12.98M
YoY Change 42.96% 3.45% -13.84%
Total Long-Term Assets $2.234B $2.253B $2.273B
YoY Change -3.51% -3.58% -3.8%
TOTAL ASSETS
Total Short-Term Assets $588.4M $563.4M $921.9M
Total Long-Term Assets $2.234B $2.253B $2.273B
Total Assets $2.822B $2.817B $3.195B
YoY Change -6.44% -7.14% 3.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.47M $19.85M $21.96M
YoY Change 21.71% 17.02% 22.24%
Accrued Expenses $93.39M $95.18M $119.3M
YoY Change -8.06% 9.22% 2.37%
Deferred Revenue $287.3M $297.2M $330.6M
YoY Change 16.46% 15.22% 22.55%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $402.2M $415.2M $476.2M
YoY Change 8.47% 12.96% 15.78%
LONG-TERM LIABILITIES
Long-Term Debt $200.0M $200.0M $350.0M
YoY Change -42.86% -42.86% 0.0%
Other Long-Term Liabilities $210.7M $7.642M $7.470M
YoY Change 1610.93% -65.55% -65.48%
Total Long-Term Liabilities $410.7M $207.6M $357.5M
YoY Change 13.35% -44.21% -3.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $402.2M $415.2M $476.2M
Total Long-Term Liabilities $410.7M $207.6M $357.5M
Total Liabilities $884.4M $909.7M $1.134B
YoY Change -13.07% -11.68% 5.1%
SHAREHOLDERS EQUITY
Retained Earnings $420.8M $403.4M $410.6M
YoY Change 13.35% 11.03% 9.57%
Common Stock $128.0K $127.0K $126.0K
YoY Change 1.59% 2.42% 1.61%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.374B
YoY Change 3.88%
Treasury Stock Shares 52.32M shares
Shareholders Equity $1.938B $1.907B $2.060B
YoY Change
Total Liabilities & Shareholders Equity $2.822B $2.817B $3.195B
YoY Change -6.44% -7.14% 3.55%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $17.38M -$7.132M -$8.406M
YoY Change 120.15% -37.11% -173.74%
Depreciation, Depletion And Amortization $13.80M $21.59M $23.74M
YoY Change -42.52% -10.94% -9.4%
Cash From Operating Activities $10.13M -$12.52M $155.6M
YoY Change -56.48% -152.05% 69.16%
INVESTING ACTIVITIES
Capital Expenditures -$3.014M $2.201M -$3.396M
YoY Change 74.93% -14.62% 17.1%
Acquisitions
YoY Change
Other Investing Activities -$4.658M $24.88M -$61.90M
YoY Change 680.23% 877.38% -1920.65%
Cash From Investing Activities -$7.672M $22.52M -$65.30M
YoY Change 230.69% -70481.25% -13159.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $150.0M
YoY Change
Debt Paid & Issued, Net $150.0M
YoY Change
Cash From Financing Activities -8.198M -$310.8M -446.0K
YoY Change -78.59% 6407.14% -99.56%
NET CHANGE
Cash From Operating Activities 10.13M -$12.52M 155.6M
Cash From Investing Activities -7.672M $22.52M -65.30M
Cash From Financing Activities -8.198M -$310.8M -446.0K
Net Change In Cash -5.738M -$303.7M 89.88M
YoY Change -66.89% -1618.9% -1121.39%
FREE CASH FLOW
Cash From Operating Activities $10.13M -$12.52M $155.6M
Capital Expenditures -$3.014M $2.201M -$3.396M
Free Cash Flow $13.15M -$14.72M $159.0M
YoY Change -47.43% -168.54% 67.57%

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OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
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CY2021Q2 ntct Increase Decrease In Operating Lease Right Of Use Asset
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CY2021Q2 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2021Q2 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
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SocialSecurityTaxEmployerDeferralCARESAct
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CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
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CY2022Q2 us-gaap Revenue Remaining Performance Obligation
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UnrecognizedAccountsReceivableAndDeferredRevenue
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CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
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CY2022Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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CY2022Q2 us-gaap Available For Sale Securities Debt Securities
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CY2022Q2 us-gaap Inventory Work In Process
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CY2022Q2 us-gaap Inventory Finished Goods
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CY2022Q2 us-gaap Goodwill
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CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2022Q2 ntct Finite Lived Intangible Asset Expected Amortization After Year Four
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CY2022Q2 us-gaap Finite Lived Intangible Assets Net
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CY2022Q2 ntct Contract Maturing Over Next Months
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CY2022Q2 us-gaap Derivative Gain On Derivative
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CY2021Q2 us-gaap Derivative Gain On Derivative
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CY2022 us-gaap Repayments Of Lines Of Credit
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CY2022Q2 us-gaap Repayments Of Lines Of Credit
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CY2021Q2 us-gaap Operating Lease Cost
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CY2022Q2 us-gaap Short Term Lease Cost
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CY2021Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
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CY2022Q2 us-gaap Variable Lease Cost
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CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
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CY2022Q2 us-gaap Lease Cost
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CY2021Q2 us-gaap Lease Cost
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CY2022Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P6Y9M25D
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OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y11M23D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
9290000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
11645000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
10997000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
9642000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7393000 usd
CY2022Q2 ntct Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
22396000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
71363000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
8969000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
62394000 usd
CY2016Q1 ntct Number Of Subsidiary Entities
NumberOfSubsidiaryEntities
2 subsidiary
CY2016Q1 us-gaap Loss Contingency Patents Allegedly Infringed Number
LossContingencyPatentsAllegedlyInfringedNumber
5 patent
CY2017Q4 us-gaap Loss Contingency Patents Allegedly Infringed Number
LossContingencyPatentsAllegedlyInfringedNumber
3 patent
CY2018Q3 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
2800000 usd
CY2018Q3 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
2800000 usd
CY2022Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
45000 usd
CY2021Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
45000 usd
CY2022Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
92000 usd
CY2021Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
91000 usd
CY2022Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
137000 usd
CY2021Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
136000 usd
CY2022Q2 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
100000 usd
CY2022Q2 us-gaap Defined Benefit Plan Expected Future Employer Contributions Current Fiscal Year
DefinedBenefitPlanExpectedFutureEmployerContributionsCurrentFiscalYear
1000000 usd
CY2017Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
20000000 shares
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-7132000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-11341000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72452000 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73859000 shares
CY2022Q2 ntct Weighted Average Number Of Shares Restricted Stock Units And Performance Based Restricted Stock Units
WeightedAverageNumberOfSharesRestrictedStockUnitsAndPerformanceBasedRestrictedStockUnits
0 shares
CY2021Q2 ntct Weighted Average Number Of Shares Restricted Stock Units And Performance Based Restricted Stock Units
WeightedAverageNumberOfSharesRestrictedStockUnitsAndPerformanceBasedRestrictedStockUnits
0 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72452000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73859000 shares
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.15
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.15
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.320
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.133
CY2022Q2 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
208812000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
190272000 usd

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