2023 Q4 Form 10-Q Financial Statement

#000162828023036391 Filed on November 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $218.1M $196.8M
YoY Change -19.1% -13.71%
Cost Of Revenue $43.62M $43.05M
YoY Change -23.2% -25.31%
Gross Profit $174.4M $153.8M
YoY Change -18.0% -9.79%
Gross Profit Margin 80.0% 78.12%
Selling, General & Admin $92.19M $83.60M
YoY Change -0.37% -8.51%
% of Gross Profit 52.85% 54.38%
Research & Development $37.02M $35.11M
YoY Change -13.01% -20.05%
% of Gross Profit 21.22% 22.84%
Depreciation & Amortization $12.53M $19.00M
YoY Change -9.3% 37.67%
% of Gross Profit 7.18% 12.36%
Operating Expenses $141.7M $127.5M
YoY Change -4.81% -14.51%
Operating Profit $32.70M $26.29M
YoY Change -48.77% 23.19%
Interest Expense $729.0K $2.174M
YoY Change -122.98% -207.41%
% of Operating Profit 2.23% 8.27%
Other Income/Expense, Net $729.0K $1.182M
YoY Change -122.98% -158.4%
Pretax Income -$133.7M $27.47M
YoY Change -320.74% 41.77%
Income Tax -$1.141M $6.012M
% Of Pretax Income 21.88%
Net Earnings -$132.6M $21.46M
YoY Change -351.96% 23.47%
Net Earnings / Revenue -60.8% 10.91%
Basic Earnings Per Share -$1.87 $0.30
Diluted Earnings Per Share -$1.87 $0.29
COMMON SHARES
Basic Shares Outstanding 71.00M shares 72.15M shares
Diluted Shares Outstanding 71.08M shares 72.80M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $329.1M $328.6M
YoY Change -19.59% -10.5%
Cash & Equivalents $329.1M $279.9M
Short-Term Investments $31.46M $48.70M
Other Short-Term Assets $43.29M $29.80M
YoY Change 13.38% -48.68%
Inventory $15.34M $15.91M
Prepaid Expenses
Receivables $221.6M $152.6M
Other Receivables $0.00 $13.60M
Total Short-Term Assets $609.3M $540.5M
YoY Change -10.65% -8.14%
LONG-TERM ASSETS
Property, Plant & Equipment $72.93M $30.64M
YoY Change -17.76% -65.39%
Goodwill $1.600B $1.722B
YoY Change -7.29% -0.65%
Intangibles $323.9M $336.4M
YoY Change -15.28% -14.55%
Long-Term Investments $1.010M $4.000M
YoY Change -85.38%
Other Assets $31.10M $12.68M
YoY Change 67.32% -30.2%
Total Long-Term Assets $1.980B $2.157B
YoY Change -10.88% -3.42%
TOTAL ASSETS
Total Short-Term Assets $609.3M $540.5M
Total Long-Term Assets $1.980B $2.157B
Total Assets $2.590B $2.698B
YoY Change -10.82% -4.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.13M $15.57M
YoY Change -2.06% -27.5%
Accrued Expenses $73.71M $66.90M
YoY Change -31.21% -28.37%
Deferred Revenue $293.4M $275.0M
YoY Change -7.56% -4.29%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $382.3M $359.1M
YoY Change -13.13% -10.71%
LONG-TERM LIABILITIES
Long-Term Debt $100.0M $100.0M
YoY Change -50.0% -50.0%
Other Long-Term Liabilities $199.1M $7.371M
YoY Change -9.0% -96.5%
Total Long-Term Liabilities $299.1M $107.4M
YoY Change -28.58% -73.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $382.3M $359.1M
Total Long-Term Liabilities $299.1M $107.4M
Total Liabilities $685.9M $658.0M
YoY Change -23.7% -25.6%
SHAREHOLDERS EQUITY
Retained Earnings $354.9M $487.5M
YoY Change -25.04% 15.84%
Common Stock $131.0K $130.0K
YoY Change 2.34% 1.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.904B $2.040B
YoY Change
Total Liabilities & Shareholders Equity $2.590B $2.698B
YoY Change -10.82% -4.41%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$132.6M $21.46M
YoY Change -351.96% 23.47%
Depreciation, Depletion And Amortization $12.53M $19.00M
YoY Change -9.3% 37.67%
Cash From Operating Activities $13.93M -$26.30M
YoY Change -69.91% -359.57%
INVESTING ACTIVITIES
Capital Expenditures $1.240M $1.500M
YoY Change -139.17% -149.77%
Acquisitions
YoY Change
Other Investing Activities $21.67M $13.70M
YoY Change -225.03% -394.12%
Cash From Investing Activities $20.43M $12.10M
YoY Change -199.67% -257.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -19.25M -36.50M
YoY Change 10593.33% 345.23%
NET CHANGE
Cash From Operating Activities 13.93M -26.30M
Cash From Investing Activities 20.43M 12.10M
Cash From Financing Activities -19.25M -36.50M
Net Change In Cash 15.11M -50.70M
YoY Change -41.04% 783.58%
FREE CASH FLOW
Cash From Operating Activities $13.93M -$26.30M
Capital Expenditures $1.240M $1.500M
Free Cash Flow $12.69M -$27.80M
YoY Change -74.35% -311.47%

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CY2023Q1 us-gaap Derivative Assets
DerivativeAssets
59000 usd
CY2023Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
427997000 usd
CY2023Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
1429000 usd
CY2023Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
1429000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-200000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
1174000 usd
CY2023Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0 usd
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
10533000 usd
CY2023Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
12352000 usd
CY2023Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
170000 usd
CY2023Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
14000 usd
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4778000 usd
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
5183000 usd
CY2023Q3 us-gaap Other Inventory Capitalized Costs
OtherInventoryCapitalizedCosts
428000 usd
CY2023Q1 us-gaap Other Inventory Capitalized Costs
OtherInventoryCapitalizedCosts
407000 usd
CY2023Q3 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
15909000 usd
CY2023Q1 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
17956000 usd
us-gaap Number Of Reporting Units
NumberOfReportingUnits
1 reporting_unit
CY2023Q3 us-gaap Goodwill
Goodwill
1700000000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
1724404000 usd
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
1859000 usd
us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
4259000 usd
us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
60000 usd
us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
0 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
3047000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
3084000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
6087000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
6207000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
434000 usd
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1204000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
838000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
1978000 usd
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
1185000 usd
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
873000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
2200000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
1856000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
4666000 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
5161000 usd
us-gaap Lease Cost
LeaseCost
9125000 usd
us-gaap Lease Cost
LeaseCost
10041000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
857000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
493000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y8M8D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y25D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.042
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.042
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
262000 usd
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
300000 usd
CY2023Q3 us-gaap Defined Benefit Plan Expected Future Employer Contributions Current Fiscal Year
DefinedBenefitPlanExpectedFutureEmployerContributionsCurrentFiscalYear
1000000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
6177000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
13203000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
11295000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8315000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7267000 usd
CY2023Q3 ntct Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
15763000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
62020000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6695000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
55325000 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
1100000 usd
CY2023Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
19000 usd
CY2022Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
41000 usd
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
39000 usd
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
86000 usd
CY2023Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
46000 usd
CY2022Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
84000 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
96000 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
176000 usd
CY2023Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
65000 usd
CY2022Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
125000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
135000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
21462000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
17383000 usd
us-gaap Net Income Loss
NetIncomeLoss
17262000 usd
us-gaap Net Income Loss
NetIncomeLoss
10251000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72112000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71856000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71828000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72152000 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
685000 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1035000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1010000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1342000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72797000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72891000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72838000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73494000 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.30
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.24
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.24
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.219
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.103
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.220
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.153
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
196802000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
228081000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
407940000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
436893000 usd
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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ntct-20230930_cal.xml Edgar Link unprocessable
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0001628280-23-036391-index.html Edgar Link pending
0001628280-23-036391.txt Edgar Link pending
0001628280-23-036391-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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ntct-20230930.htm Edgar Link pending
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ntct-20230930_def.xml Edgar Link unprocessable
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ntct-20230930_lab.xml Edgar Link unprocessable
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ntct-20230930_pre.xml Edgar Link unprocessable