2024 Q4 Form 10-Q Financial Statement

#000095017024120104 Filed on November 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $182.9M
YoY Change 5.44%
Cost Of Revenue $126.4M
YoY Change 6.09%
Gross Profit $56.48M
YoY Change 4.02%
Gross Profit Margin 30.89%
Selling, General & Admin $39.55M
YoY Change -19.31%
% of Gross Profit 70.03%
Research & Development $20.91M
YoY Change 0.36%
% of Gross Profit 37.01%
Depreciation & Amortization $1.713M
YoY Change -7.65%
% of Gross Profit 3.03%
Operating Expenses -$39.33M
YoY Change -156.3%
Operating Profit $95.81M
YoY Change -716.17%
Interest Expense -$49.00K
YoY Change -357.89%
% of Operating Profit -0.05%
Other Income/Expense, Net $3.485M
YoY Change -56.33%
Pretax Income $99.29M
YoY Change -1115.37%
Income Tax $14.20M
% Of Pretax Income 14.3%
Net Earnings $85.07M
YoY Change -1090.73%
Net Earnings / Revenue 46.53%
Basic Earnings Per Share $2.96
Diluted Earnings Per Share $2.90
COMMON SHARES
Basic Shares Outstanding 28.77M 28.68M
Diluted Shares Outstanding 29.36M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $395.7M
YoY Change 95.1%
Cash & Equivalents $273.8M
Short-Term Investments $122.0M
Other Short-Term Assets $34.30M
YoY Change 27.85%
Inventory $162.0M
Prepaid Expenses
Receivables $177.3M
Other Receivables $0.00
Total Short-Term Assets $769.3M
YoY Change 4.87%
LONG-TERM ASSETS
Property, Plant & Equipment $10.64M
YoY Change -78.02%
Goodwill $36.28M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $8.492M
YoY Change 5.28%
Other Assets $15.62M
YoY Change -85.41%
Total Long-Term Assets $93.30M
YoY Change -51.62%
TOTAL ASSETS
Total Short-Term Assets $769.3M
Total Long-Term Assets $93.30M
Total Assets $862.6M
YoY Change -6.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $52.04M
YoY Change 44.96%
Accrued Expenses $155.2M
YoY Change -22.45%
Deferred Revenue $29.60M
YoY Change 27.53%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $271.4M
YoY Change 2.62%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $10.42M
YoY Change -78.88%
Total Long-Term Liabilities $10.42M
YoY Change -78.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $271.4M
Total Long-Term Liabilities $10.42M
Total Liabilities $312.3M
YoY Change -0.47%
SHAREHOLDERS EQUITY
Retained Earnings -$437.4M
YoY Change 26.73%
Common Stock $29.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $550.3M
YoY Change
Total Liabilities & Shareholders Equity $862.6M
YoY Change -6.89%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $85.07M
YoY Change -1090.73%
Depreciation, Depletion And Amortization $1.713M
YoY Change -7.65%
Cash From Operating Activities $107.7M
YoY Change -411.3%
INVESTING ACTIVITIES
Capital Expenditures $1.685M
YoY Change 131.14%
Acquisitions
YoY Change
Other Investing Activities -$9.301M
YoY Change -2095.92%
Cash From Investing Activities -$10.99M
YoY Change 4077.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -31.00K
YoY Change -98.44%
NET CHANGE
Cash From Operating Activities 107.7M
Cash From Investing Activities -10.99M
Cash From Financing Activities -31.00K
Net Change In Cash 96.66M
YoY Change -362.4%
FREE CASH FLOW
Cash From Operating Activities $107.7M
Capital Expenditures $1.685M
Free Cash Flow $106.0M
YoY Change -400.11%

Facts In Submission

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<p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Segment Recast</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"><br/></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In the first fiscal quarter of 2024, resulting from certain segment structure changes, the Company revised its allocation method by allocating certain historically unallocated operating expenses to its individual operating segments. This change impacted Note 11, </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Segment Information</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">. The prior-year segment financial information has been recast to conform to the current-year presentation. None of the changes impacted previously reported consolidated net revenue, income (loss) from operations, net income (loss) per share, total assets, or stockholders’ equity.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
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CY2024Q3 us-gaap Income Tax Expense Benefit
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IncomeTaxExpenseBenefit
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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IncomeTaxExpenseBenefit
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CY2024Q3 ntgr Benefit For Forecasted Tax Loss
BenefitForForecastedTaxLoss
0
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CY2024Q3 us-gaap Purchase Commitment Remaining Minimum Amount Committed
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LossIncurredRelatedToPurchaseCommitments
5000000
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LossIncurredRelatedToPurchaseCommitments
600000
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LossIncurredRelatedToPurchaseCommitments
2000000
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
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CY2023Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
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CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
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CY2022Q4 us-gaap Product Warranty Accrual
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CY2024Q3 us-gaap Product Warranty Accrual Warranties Issued
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CY2023Q4 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
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us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2468000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
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CY2024Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1046000
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ProductWarrantyAccrualPayments
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ProductWarrantyAccrualPayments
3421000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
4144000
CY2024Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
4785000
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
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CY2024Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
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CY2024Q3 ntgr Operating Lease Short Term Future Lease Payments
OperatingLeaseShortTermFutureLeasePayments
300000
CY2024Q3 ntgr Operating Lease Long Term Future Lease Payments
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CY2024Q3 us-gaap Lessee Operating Lease Lease Not Yet Commenced Term Of Contract1
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P11Y
CY2024Q3 ntgr Number Of Existing Cases And Proceedings That Company Currently Believes Are Liking To Have Material Adverse Effect On Its Financial Position
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0
ntgr Future Length Company Currently Considered Regarding Existing Cases And Proceedings That Are Likely To Have Material Adverse Effect On It In Months
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P12M
CY2024Q3 us-gaap Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
135000000
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1700000
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
22900000
CY2024Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
3800000
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
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222000
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
194000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3300000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2700000
CY2023Q4 us-gaap Aoci Tax Attributable To Parent
AociTaxAttributableToParent
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us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
-151000
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us-gaap Reclassification From Aoci Current Period Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2024Q3 us-gaap Aoci Tax Attributable To Parent
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CY2022Q4 us-gaap Aoci Tax Attributable To Parent
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1721000
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111000
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544000
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AociTaxAttributableToParent
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5620000
CY2023Q4 us-gaap Allocated Share Based Compensation Expense
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4285000
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AllocatedShareBasedCompensationExpense
16052000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13637000
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
38800000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
182854000
CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
197845000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
491340000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
552166000
CY2024Q3 ntgr Segment Contribution Income
SegmentContributionIncome
11353000
CY2023Q4 ntgr Segment Contribution Income
SegmentContributionIncome
24012000
ntgr Segment Contribution Income
SegmentContributionIncome
3384000
ntgr Segment Contribution Income
SegmentContributionIncome
44590000
CY2024Q3 ntgr Corporate And Unallocated Income
CorporateAndUnallocatedIncome
9708000
CY2023Q4 ntgr Corporate And Unallocated Income
CorporateAndUnallocatedIncome
18760000
ntgr Corporate And Unallocated Income
CorporateAndUnallocatedIncome
48864000
ntgr Corporate And Unallocated Income
CorporateAndUnallocatedIncome
57145000
CY2024Q3 ntgr Amortization Of Intangible Asset
AmortizationOfIntangibleAsset
0
CY2023Q4 ntgr Amortization Of Intangible Asset
AmortizationOfIntangibleAsset
0
ntgr Amortization Of Intangible Asset
AmortizationOfIntangibleAsset
0
ntgr Amortization Of Intangible Asset
AmortizationOfIntangibleAsset
257000
CY2024Q3 us-gaap Share Based Compensation
ShareBasedCompensation
5620000
CY2023Q4 us-gaap Share Based Compensation
ShareBasedCompensation
4285000
us-gaap Share Based Compensation
ShareBasedCompensation
16052000
us-gaap Share Based Compensation
ShareBasedCompensation
13637000
CY2024Q3 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0
CY2023Q4 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
1071000
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
1071000
CY2024Q3 ntgr Restructuring And Other Charges
RestructuringAndOtherCharges
1072000
CY2023Q4 ntgr Restructuring And Other Charges
RestructuringAndOtherCharges
366000
ntgr Restructuring And Other Charges
RestructuringAndOtherCharges
3792000
ntgr Restructuring And Other Charges
RestructuringAndOtherCharges
2703000
CY2024Q3 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
100855000
CY2023Q4 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-178000
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
92625000
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-178000
CY2024Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3485000
CY2023Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2280000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
9048000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
11685000
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
99293000
CY2023Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1632000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
36349000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-18716000
CY2024Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-1600000
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
500000
CY2023Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
1300000
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
2200000
us-gaap Proceeds From Legal Settlements
ProceedsFromLegalSettlements
6000000
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
182854000
CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
197845000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
491340000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
552166000
CY2024Q3 us-gaap Noncurrent Assets
NoncurrentAssets
41398000
CY2023Q4 us-gaap Noncurrent Assets
NoncurrentAssets
45558000
CY2024Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
233069000
CY2024Q3 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
1267000
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
133208000
CY2023Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
1691000
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
287000
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
3792000
us-gaap Payments For Restructuring
PaymentsForRestructuring
3147000
us-gaap Restructuring Reserve Accrual Adjustment1
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262000
CY2024Q3 us-gaap Restructuring Reserve
RestructuringReserve
670000
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
1912000
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
3045000
us-gaap Payments For Restructuring
PaymentsForRestructuring
4505000
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
80000
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
372000
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
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CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
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CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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