2023 Q1 Form 10-K Financial Statement

#000166013423000013 Filed on March 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2023
Revenue $510.0M $1.858B
YoY Change 33.15% 42.9%
Cost Of Revenue $139.0M $546.0M
YoY Change 16.32% 37.74%
Gross Profit $371.0M $1.312B
YoY Change 40.79% 45.17%
Gross Profit Margin 72.75% 70.61%
Selling, General & Admin $359.0M $1.475B
YoY Change 8.63% 22.75%
% of Gross Profit 96.77% 112.42%
Research & Development $154.0M $620.0M
YoY Change 4.44% 32.12%
% of Gross Profit 41.51% 47.26%
Depreciation & Amortization $26.00M $12.00M
YoY Change -16.07% -0.83%
% of Gross Profit 7.01% 0.91%
Operating Expenses $513.0M $2.124B
YoY Change 7.34% 27.12%
Operating Profit -$142.0M -$812.0M
YoY Change -33.78% 5.85%
Interest Expense $8.000M $11.00M
YoY Change -137.63% -88.07%
% of Operating Profit
Other Income/Expense, Net $22.00M
YoY Change 125.23%
Pretax Income -$149.0M -$801.0M
YoY Change -36.78% -5.73%
Income Tax $4.000M $14.00M
% Of Pretax Income
Net Earnings -$153.0M -$815.0M
YoY Change -36.56% -3.94%
Net Earnings / Revenue -30.0% -43.86%
Basic Earnings Per Share -$5.16
Diluted Earnings Per Share -$0.96 -$5.16
COMMON SHARES
Basic Shares Outstanding 158.0M shares
Diluted Shares Outstanding 158.0M shares

Balance Sheet

Concept 2023 Q1 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.580B $2.580B
YoY Change 3.13% 3.13%
Cash & Equivalents $264.0M $264.0M
Short-Term Investments $2.316B $2.316B
Other Short-Term Assets $168.0M $168.0M
YoY Change 18.87% 18.87%
Inventory
Prepaid Expenses
Receivables $481.0M $481.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.229B $3.229B
YoY Change 6.19% 6.19%
LONG-TERM ASSETS
Property, Plant & Equipment $59.00M $181.0M
YoY Change -9.91% -15.19%
Goodwill $5.400B
YoY Change -0.02%
Intangibles $241.0M
YoY Change -23.97%
Long-Term Investments
YoY Change
Other Assets $46.00M $256.0M
YoY Change 8.76% 9.72%
Total Long-Term Assets $6.078B $6.078B
YoY Change -1.41% -1.41%
TOTAL ASSETS
Total Short-Term Assets $3.229B $3.229B
Total Long-Term Assets $6.078B $6.078B
Total Assets $9.307B $9.307B
YoY Change 1.1% 1.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.00M $12.00M
YoY Change -40.6% -40.6%
Accrued Expenses $67.00M $211.0M
YoY Change 38.7% -3.49%
Deferred Revenue $1.242B
YoY Change 27.61%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $1.465B $1.465B
YoY Change 17.88% 17.88%
LONG-TERM LIABILITIES
Long-Term Debt $2.193B $2.193B
YoY Change 20.78% 20.78%
Other Long-Term Liabilities $23.00M $183.0M
YoY Change -27.62% -15.24%
Total Long-Term Liabilities $23.00M $2.376B
YoY Change -27.62% 16.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.465B $1.465B
Total Long-Term Liabilities $23.00M $2.376B
Total Liabilities $3.841B $3.841B
YoY Change 16.97% 16.97%
SHAREHOLDERS EQUITY
Retained Earnings -$2.475B
YoY Change 36.3%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.466B $5.466B
YoY Change
Total Liabilities & Shareholders Equity $9.307B $9.307B
YoY Change 1.1% 1.1%

Cashflow Statement

Concept 2023 Q1 2023
OPERATING ACTIVITIES
Net Income -$153.0M -$815.0M
YoY Change -36.56% -3.94%
Depreciation, Depletion And Amortization $26.00M $12.00M
YoY Change -16.07% -0.83%
Cash From Operating Activities $76.24M $86.00M
YoY Change 463.39% -17.4%
INVESTING ACTIVITIES
Capital Expenditures $3.353M $12.00M
YoY Change -138.94% -2.52%
Acquisitions $4.000M
YoY Change -98.14%
Other Investing Activities -$79.42M -$107.0M
YoY Change -46.37% -69.43%
Cash From Investing Activities -$82.78M -$130.0M
YoY Change -47.18% -64.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.44M $48.00M
YoY Change -52.86% -46.11%
NET CHANGE
Cash From Operating Activities 76.24M $86.00M
Cash From Investing Activities -82.78M -$130.0M
Cash From Financing Activities 14.44M $48.00M
Net Change In Cash 7.896M -$2.000M
YoY Change -107.01% -98.86%
FREE CASH FLOW
Cash From Operating Activities $76.24M $86.00M
Capital Expenditures $3.353M $12.00M
Free Cash Flow $72.89M $74.00M
YoY Change 229.16% -19.4%

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CY2023 us-gaap Number Of Reportable Segments
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CY2023 us-gaap Number Of Operating Segments
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CY2023 us-gaap Fiscal Period
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The Company’s fiscal year ends on January 31. References to fiscal 2023, for example, refer to the fiscal year ended January 31, 2023.
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Certain reclassifications of components of prior period operating cash flows have been made in the consolidated statements of cash flows to conform to the current period presentation. These reclassifications had no impact on the aggregate cash flow classifications as previously reported.
CY2023 us-gaap Use Of Estimates
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The preparation of consolidated financial statements in conformity with GAAP requires estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Estimates are based on historical experience and on other assumptions that management believes are reasonable under the circumstances. Actual results could vary from those estimates. The Company’s most significant estimates include the valuation of deferred income tax assets, uncertain tax positions, assets and liabilities acquired in business combinations, and loss contingencies related to litigation.
CY2023 okta Deferred Revenue Payment Terms
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2023Q1 us-gaap Restricted Cash Noncurrent
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CY2023 us-gaap Goodwill Impairment Loss
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CY2023 us-gaap Concentration Risk Credit Risk
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<div style="margin-bottom:9pt;margin-top:4pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, short-term investments and accounts receivable. The Company's short-term investments are primarily intended to facilitate liquidity and capital preservation and consist predominately of highly liquid investment-grade fixed-income securities, diversified among industries and individual issuers. The Company's policy is designed to limit exposure from any particular issuer or institution.</span></div><div style="margin-bottom:9pt;margin-top:4pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Credit risk arising from accounts receivable is mitigated due to the large number of customers and their dispersion across various industries and geographies. For the periods presented, there were no customers that represented more than 10% of the Company's accounts receivable balance or total revenue.</span></div><div style="margin-bottom:9pt;margin-top:4pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company serves customers and users from data center facilities located across various different physical locations, such as the U.S., Europe and Asia-Pacific, most of which are operated by a single third party. The Company has disaster recovery protocols at the third-party service providers. Even with these procedures for disaster recovery in place, access to the Company's service could be significantly interrupted, resulting in an adverse effect on its operating results and financial condition.</span></div>
CY2022Q1 us-gaap Convertible Debt Current
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Files In Submission

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