2023 Q2 Form 10-Q Financial Statement

#000095017023014896 Filed on April 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $108.8M $96.33M $87.84M
YoY Change 4.41% 9.66% -0.87%
Cost Of Revenue $34.37M $31.70M $28.75M
YoY Change 9.17% 10.27% 9.32%
Gross Profit $74.44M $64.62M $59.09M
YoY Change 2.35% 9.36% -5.15%
Gross Profit Margin 68.42% 67.09% 67.27%
Selling, General & Admin $86.76M $86.19M $79.33M
YoY Change 3.32% 8.66% 8.26%
% of Gross Profit 116.55% 133.37% 134.24%
Research & Development $13.32M $14.76M $12.54M
YoY Change 6.12% 17.7% 8.69%
% of Gross Profit 17.89% 22.83% 21.21%
Depreciation & Amortization $1.671M $1.541M $1.495M
YoY Change 7.05% 3.08% 35.79%
% of Gross Profit 2.24% 2.38% 2.53%
Operating Expenses $100.1M $100.9M $91.86M
YoY Change 3.69% 9.89% 8.32%
Operating Profit -$25.64M -$36.32M -$32.77M
YoY Change 7.77% 10.85% 45.56%
Interest Expense $1.730M $1.613M -$1.460M
YoY Change 7.59% -210.48% -122.3%
% of Operating Profit
Other Income/Expense, Net -$338.0K -$46.00K $85.00K
YoY Change -191.85% -154.12% -118.6%
Pretax Income -$24.25M -$34.70M -$34.14M
YoY Change -2.03% 1.64% 16.93%
Income Tax $477.0K $325.0K $181.0K
% Of Pretax Income
Net Earnings -$24.72M -$35.03M -$34.33M
YoY Change -1.06% 2.05% 16.12%
Net Earnings / Revenue -22.72% -36.36% -39.08%
Basic Earnings Per Share -$0.69 -$0.98 -$0.98
Diluted Earnings Per Share -$0.69 -$0.98 -$978.6K
COMMON SHARES
Basic Shares Outstanding 35.82M 35.54M 35.07M
Diluted Shares Outstanding 35.92M 35.58M 35.07M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $329.9M $341.8M $323.6M
YoY Change 6.15% 5.6% -43.85%
Cash & Equivalents $65.19M $64.23M $50.08M
Short-Term Investments $264.8M $277.5M $274.2M
Other Short-Term Assets $11.92M $14.67M $13.10M
YoY Change -1.14% 12.05% 27.14%
Inventory $120.1M $113.3M $90.59M
Prepaid Expenses
Receivables $69.40M $65.73M $63.05M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $531.3M $535.5M $490.4M
YoY Change 9.94% 9.19% -33.62%
LONG-TERM ASSETS
Property, Plant & Equipment $34.76M $22.91M $20.84M
YoY Change 67.18% 9.95% 36.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.413M $3.109M $5.094M
YoY Change -7.13% -38.97% 15.77%
Total Long-Term Assets $38.17M $38.97M $42.50M
YoY Change -6.02% -8.31% 14.86%
TOTAL ASSETS
Total Short-Term Assets $531.3M $535.5M $490.4M
Total Long-Term Assets $38.17M $38.97M $42.50M
Total Assets $569.5M $574.4M $532.9M
YoY Change 8.7% 7.8% -31.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.30M $29.23M $27.14M
YoY Change -3.2% 7.72% -6.75%
Accrued Expenses $45.35M $40.37M $38.33M
YoY Change 24.52% 5.33% -9.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $77.53M $74.92M $70.32M
YoY Change 6.69% 6.53% -71.46%
LONG-TERM LIABILITIES
Long-Term Debt $187.5M $187.2M $186.0M
YoY Change 0.66% 0.66% 29.13%
Other Long-Term Liabilities $9.750M $2.157M $36.22M
YoY Change -55.84% -94.04% 89.61%
Total Long-Term Liabilities $197.2M $189.3M $222.2M
YoY Change -5.33% -14.78% 36.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $77.53M $74.92M $70.32M
Total Long-Term Liabilities $197.2M $189.3M $222.2M
Total Liabilities $274.8M $273.2M $292.5M
YoY Change -6.52% -6.6% -28.57%
SHAREHOLDERS EQUITY
Retained Earnings -$667.0M -$642.2M
YoY Change -0.38%
Common Stock $963.6M $945.5M
YoY Change 6.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $294.8M $301.2M $240.4M
YoY Change
Total Liabilities & Shareholders Equity $569.5M $574.4M $532.9M
YoY Change 8.7% 7.8% -31.3%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$24.72M -$35.03M -$34.33M
YoY Change -1.06% 2.05% 16.12%
Depreciation, Depletion And Amortization $1.671M $1.541M $1.495M
YoY Change 7.05% 3.08% 35.79%
Cash From Operating Activities -$14.50M -$29.31M -$28.42M
YoY Change 13.0% 3.15% 313.59%
INVESTING ACTIVITIES
Capital Expenditures $2.208M $2.588M $1.607M
YoY Change -253.87% 61.05% -37.1%
Acquisitions
YoY Change
Other Investing Activities $13.48M -$22.06M $51.67M
YoY Change -81.2% -142.69% -2.32%
Cash From Investing Activities $11.27M -$24.65M $50.07M
YoY Change -83.96% -149.23% -0.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.122M -2.273M -6.753M
YoY Change 42.88% -66.34% 359.39%
NET CHANGE
Cash From Operating Activities -14.50M -29.31M -28.42M
Cash From Investing Activities 11.27M -24.65M 50.07M
Cash From Financing Activities 4.122M -2.273M -6.753M
Net Change In Cash 894.0K -56.15M 14.76M
YoY Change -98.52% -480.37% -64.8%
FREE CASH FLOW
Cash From Operating Activities -$14.50M -$29.31M -$28.42M
Capital Expenditures $2.208M $2.588M $1.607M
Free Cash Flow -$16.71M -$31.90M -$30.03M
YoY Change 46.59% 6.25% 218.53%

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Estimates are based on historical experience, where applicable, and other assumptions believed to be reasonable by the management. Actual results may differ from those estimates under different assumptions or conditions.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The COVID-19 pandemic has negatively impacted, and may continue to negatively impact the Company’s operations and revenues and overall financial condition. Due to the COVID-19 pandemic, there has been uncertainty and disruption in the global economy and financial markets which could impact the Company’s estimates and assumptions. Changes in the Company’s assessment about the length and severity of the pandemic, as well as other factors, could result in actual results differing from estimates.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
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CY2022Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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Files In Submission

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nvro-20230331_def.xml Edgar Link unprocessable
nvro-20230331_lab.xml Edgar Link unprocessable
nvro-20230331_pre.xml Edgar Link unprocessable
nvro-20230331_htm.xml Edgar Link completed
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