2021 Q1 Form 10-Q Financial Statement

#000164511321000061 Filed on April 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $134.7M $101.8M
YoY Change 32.28% 38.9%
Cost Of Revenue $26.39M $24.50M
YoY Change 7.71% 23.63%
Gross Profit $108.3M $77.33M
YoY Change 40.06% 44.56%
Gross Profit Margin 80.41% 75.94%
Selling, General & Admin $62.48M $55.44M
YoY Change 12.7% 30.23%
% of Gross Profit 57.69% 71.69%
Research & Development $45.92M $25.27M
YoY Change 81.69% 48.29%
% of Gross Profit 42.39% 32.68%
Depreciation & Amortization $2.370M $1.890M
YoY Change 25.4% -2.07%
% of Gross Profit 2.19% 2.44%
Operating Expenses $108.4M $80.71M
YoY Change 34.3% 35.39%
Operating Profit -$88.00K -$3.381M
YoY Change -97.4% -44.74%
Interest Expense -$2.600M -$2.400M
YoY Change 8.33% 0.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$2.734M -$5.813M
YoY Change -52.97% -31.52%
Income Tax $1.394M -$9.765M
% Of Pretax Income
Net Earnings -$4.128M $3.952M
YoY Change -204.45% -132.53%
Net Earnings / Revenue -3.06% 3.88%
Basic Earnings Per Share -$0.04 $0.04
Diluted Earnings Per Share -$0.04 $0.04
COMMON SHARES
Basic Shares Outstanding 102.6M shares 99.88M shares
Diluted Shares Outstanding 102.6M shares 108.1M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $864.4M $331.3M
YoY Change 160.91% 29.11%
Cash & Equivalents $314.5M $181.9M
Short-Term Investments $549.9M $149.3M
Other Short-Term Assets $11.40M $800.0K
YoY Change 1325.0% -61.9%
Inventory $27.97M $22.50M
Prepaid Expenses
Receivables $92.51M $65.14M
Other Receivables $18.90M $42.50M
Total Short-Term Assets $1.015B $462.2M
YoY Change 119.66% 37.68%
LONG-TERM ASSETS
Property, Plant & Equipment $11.73M $9.778M
YoY Change 19.99% -66.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.79M $4.824M
YoY Change 123.63% -3.52%
Total Long-Term Assets $52.39M $40.27M
YoY Change 30.11% 16.39%
TOTAL ASSETS
Total Short-Term Assets $1.015B $462.2M
Total Long-Term Assets $52.39M $40.27M
Total Assets $1.068B $502.4M
YoY Change 112.49% 35.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $52.70M $40.40M
YoY Change 30.45% 35.12%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $110.5M $84.20M
YoY Change 31.22% 18.76%
LONG-TERM LIABILITIES
Long-Term Debt $559.6M $149.5M
YoY Change 274.39% 0.11%
Other Long-Term Liabilities $177.0K $267.0K
YoY Change -33.71% -98.87%
Total Long-Term Liabilities $585.0M $176.3M
YoY Change 231.83% 1.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $110.5M $84.20M
Total Long-Term Liabilities $585.0M $176.3M
Total Liabilities $695.5M $260.5M
YoY Change 166.99% 6.81%
SHAREHOLDERS EQUITY
Retained Earnings -$631.7M -$646.9M
YoY Change -2.35%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $372.1M $241.9M
YoY Change
Total Liabilities & Shareholders Equity $1.068B $502.4M
YoY Change 112.49% 35.69%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$4.128M $3.952M
YoY Change -204.45% -132.53%
Depreciation, Depletion And Amortization $2.370M $1.890M
YoY Change 25.4% -2.07%
Cash From Operating Activities $17.78M $1.957M
YoY Change 808.53% -145.35%
INVESTING ACTIVITIES
Capital Expenditures $3.981M $3.112M
YoY Change 27.92% 33.85%
Acquisitions
YoY Change
Other Investing Activities $58.15M $0.00
YoY Change -100.0%
Cash From Investing Activities $54.17M -$3.112M
YoY Change -1840.71% 214.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change
Debt Paid & Issued, Net $6.000K $8.000K
YoY Change -25.0% 0.0%
Cash From Financing Activities $7.955M $4.503M
YoY Change 76.66% -73.46%
NET CHANGE
Cash From Operating Activities $17.78M $1.957M
Cash From Investing Activities $54.17M -$3.112M
Cash From Financing Activities $7.955M $4.503M
Net Change In Cash $79.80M $3.289M
YoY Change 2326.39% -71.16%
FREE CASH FLOW
Cash From Operating Activities $17.78M $1.957M
Capital Expenditures $3.981M $3.112M
Free Cash Flow $13.80M -$1.155M
YoY Change -1294.72% -82.61%

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IncreaseDecreaseInOtherNoncurrentLiabilities
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CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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NetCashProvidedByUsedInOperatingActivities
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CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2021Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
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CY2020Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
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ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
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CY2021Q1 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
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CY2020Q1 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
0 USD
CY2020 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
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CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
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NetCashProvidedByUsedInInvestingActivities
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CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3370000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
CY2020 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
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CY2021Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
6000 USD
CY2020Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
8000 USD
CY2020 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
150028000 USD
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7961000 USD
CY2020Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4511000 USD
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
28428000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7955000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4503000 USD
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
440209000 USD
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-102000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-59000 USD
CY2020 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
247000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
79804000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3289000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
66757000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
246173000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
179416000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
179416000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
325977000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
3415000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
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CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
182705000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
246173000 USD
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-2405000 USD
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2209000 USD
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
1000 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
284000 USD
CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
783000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5617000 USD
CY2021Q1 us-gaap Cash
Cash
31849000 USD
CY2020Q4 us-gaap Cash
Cash
20339000 USD
CY2021Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
282698000 USD
CY2020Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
214335000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
314547000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
234674000 USD
CY2021Q1 us-gaap Held To Maturity Securities Current
HeldToMaturitySecuritiesCurrent
549855000 USD
CY2020Q4 us-gaap Held To Maturity Securities Current
HeldToMaturitySecuritiesCurrent
607902000 USD
CY2021Q1 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
549890000 USD
CY2020Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
607905000 USD
CY2021Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
3376000 USD
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
5175000 USD
CY2021Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
9342000 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
4896000 USD
CY2021Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
15250000 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
17351000 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
27968000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
27422000 USD
CY2021Q1 us-gaap Deposits Assets
DepositsAssets
1409000 USD
CY2020Q4 us-gaap Deposits Assets
DepositsAssets
1438000 USD
CY2021Q1 us-gaap Contractual Obligation
ContractualObligation
1649000 USD
CY2020Q4 us-gaap Contractual Obligation
ContractualObligation
1687000 USD
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9220326 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
26.21
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
375689 shares
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
153.09
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
19.36
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
20911 shares
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
62.86
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
31.63
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5344848 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
18.59
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
3952000 USD
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
404591 shares
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18863000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16557000 USD
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
75721000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2020 us-gaap Net Income Loss
NetIncomeLoss
19808000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4128000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3952000 USD
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
19808000 USD
CY2021Q1 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
CY2020Q1 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
CY2020 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-4128000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3952000 USD
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
19808000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
102633545 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
99877567 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100930866 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
102633545 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
108100623 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
108877648 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9734269 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
352291 shares
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1307762 shares
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
CY2021Q1 us-gaap Noncurrent Assets
NoncurrentAssets
23865000 USD
CY2020Q4 us-gaap Noncurrent Assets
NoncurrentAssets
22625000 USD
CY2021Q1 us-gaap Revenues
Revenues
134695000 USD
CY2020Q1 us-gaap Revenues
Revenues
101828000 USD
CY2020 us-gaap Revenues
Revenues
494366000 USD

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