2023 Q2 Form 10-Q Financial Statement

#000095017023019721 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $187.0M $175.2M $106.4M
YoY Change 58.39% 64.64% 0.78%
Cost Of Revenue $67.47M $64.88M $28.32M
YoY Change 113.5% 129.09% 9.28%
Gross Profit $119.6M $110.3M $78.10M
YoY Change 38.26% 41.27% -1.98%
Gross Profit Margin 63.93% 62.97% 73.39%
Selling, General & Admin $133.4M $142.6M $73.47M
YoY Change 76.18% 94.11% 9.28%
% of Gross Profit 111.61% 129.25% 94.07%
Research & Development $19.42M $23.31M $11.21M
YoY Change 52.25% 107.88% 2.89%
% of Gross Profit 16.25% 21.12% 14.36%
Depreciation & Amortization $13.33M $12.67M $7.516M
YoY Change 104.65% 68.57% 1.57%
% of Gross Profit 11.15% 11.48% 9.62%
Operating Expenses $152.9M $165.9M $84.68M
YoY Change 72.73% 95.93% 8.39%
Operating Profit -$36.63M -$59.71M -$3.078M
YoY Change -651.6% 1840.03% 5.56%
Interest Expense -$1.266M -$1.289M -$375.0K
YoY Change 211.06% 243.73% -6.25%
% of Operating Profit
Other Income/Expense, Net -$20.00K $676.0K -$936.0K
YoY Change -99.37% -172.22% -65.2%
Pretax Income -$37.92M -$60.33M -$4.389M
YoY Change -1346.48% 1274.5% -27.13%
Income Tax $1.508M $611.0K $71.00K
% Of Pretax Income
Net Earnings -$39.43M -$60.94M -$4.460M
YoY Change -1684.01% 1266.32% -23.31%
Net Earnings / Revenue -21.08% -34.78% -4.19%
Basic Earnings Per Share -$1.07 -$1.71 -$0.22
Diluted Earnings Per Share -$1.07 -$1.71 -$0.22
COMMON SHARES
Basic Shares Outstanding 36.54M 36.46M 19.90M
Diluted Shares Outstanding 36.76K 35.73K 19.90M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.61M $49.97M $71.92M
YoY Change -36.83% -30.52% -23.98%
Cash & Equivalents $37.61M $49.97M $71.92M
Short-Term Investments
Other Short-Term Assets $26.95M $24.83M $21.89M
YoY Change 25.83% 13.43% 46.9%
Inventory $222.5M $221.9M $88.83M
Prepaid Expenses
Receivables $112.3M $113.3M $72.47M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $399.3M $410.0M $255.1M
YoY Change 56.49% 60.74% -3.15%
LONG-TERM ASSETS
Property, Plant & Equipment $140.6M $136.8M $58.51M
YoY Change 139.59% 133.82% -12.67%
Goodwill $191.7M $202.7M $71.32M
YoY Change 168.84% 184.24%
Intangibles $126.0M $122.1M $50.17M
YoY Change 148.84% 143.43%
Long-Term Investments
YoY Change
Other Assets $43.63M $45.44M $24.96M
YoY Change 78.93% 82.05% -38.52%
Total Long-Term Assets $501.9M $507.1M $206.9M
YoY Change 143.11% 145.1% -17.41%
TOTAL ASSETS
Total Short-Term Assets $399.3M $410.0M $255.1M
Total Long-Term Assets $501.9M $507.1M $206.9M
Total Assets $901.3M $917.1M $462.0M
YoY Change 95.23% 98.52% -10.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $51.35M $45.88M $27.45M
YoY Change 58.87% 67.13% 30.09%
Accrued Expenses $3.159M $3.241M $1.461M
YoY Change 129.75% 121.83% -30.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $678.0K $664.0K $610.0K
YoY Change 8.65% 8.85% -75.6%
Total Short-Term Liabilities $141.8M $137.6M $88.21M
YoY Change 74.86% 55.96% -10.99%
LONG-TERM LIABILITIES
Long-Term Debt $51.00M $45.00M $19.73M
YoY Change 160.59% 128.08% -2.81%
Other Long-Term Liabilities $49.60M $51.34M $18.48M
YoY Change 160.5% 177.85% -53.46%
Total Long-Term Liabilities $100.6M $96.34M $18.48M
YoY Change 428.33% 421.38% -69.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $141.8M $137.6M $88.21M
Total Long-Term Liabilities $100.6M $96.34M $18.48M
Total Liabilities $261.3M $253.0M $126.4M
YoY Change 118.28% 100.11% -20.54%
SHAREHOLDERS EQUITY
Retained Earnings -$99.11M -$59.69M $16.54M
YoY Change -620.85% -460.86%
Common Stock $739.2M $724.8M $320.2M
YoY Change 126.93% 126.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $640.0M $664.2M $335.6M
YoY Change
Total Liabilities & Shareholders Equity $901.3M $917.1M $462.0M
YoY Change 95.23% 98.52% -10.1%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$39.43M -$60.94M -$4.460M
YoY Change -1684.01% 1266.32% -23.31%
Depreciation, Depletion And Amortization $13.33M $12.67M $7.516M
YoY Change 104.65% 68.57% 1.57%
Cash From Operating Activities -$5.516M -$34.02M -$7.709M
YoY Change 12.27% 341.3% -415.81%
INVESTING ACTIVITIES
Capital Expenditures $12.82M $11.47M $5.329M
YoY Change -312.38% 115.27% 22.08%
Acquisitions
YoY Change
Other Investing Activities $0.00 $500.0K
YoY Change -100.0%
Cash From Investing Activities -$12.82M $17.08M -$5.667M
YoY Change 71.06% -401.46% 18.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.808M 15.98M -2.233M
YoY Change 538.94% -815.76% -301.17%
NET CHANGE
Cash From Operating Activities -5.516M -34.02M -7.709M
Cash From Investing Activities -12.82M 17.08M -5.667M
Cash From Financing Activities 5.808M 15.98M -2.233M
Net Change In Cash -12.53M -732.0K -15.93M
YoY Change 8.95% -95.4% 803.06%
FREE CASH FLOW
Cash From Operating Activities -$5.516M -$34.02M -$7.709M
Capital Expenditures $12.82M $11.47M $5.329M
Free Cash Flow -$18.33M -$45.49M -$13.04M
YoY Change -1732.68% 248.92% 577.65%

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