2023 Q2 Form 10-Q Financial Statement
#000186872623000037 Filed on May 09, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
Revenue | $109.2M | $113.8M | $186.2M |
YoY Change | -48.2% | -38.89% | 57.63% |
Cost Of Revenue | $31.75M | $32.98M | $44.99M |
YoY Change | -41.72% | -26.7% | 83.46% |
Gross Profit | $77.50M | $80.81M | $141.2M |
YoY Change | -50.46% | -42.77% | 50.87% |
Gross Profit Margin | 70.94% | 71.02% | 75.84% |
Selling, General & Admin | $48.41M | $34.92M | $22.31M |
YoY Change | 85.41% | 56.51% | 97.82% |
% of Gross Profit | 62.47% | 43.22% | 15.8% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $10.32M | $116.0K | $75.00K |
YoY Change | -17.75% | 54.67% | |
% of Gross Profit | 13.32% | 0.14% | 0.05% |
Operating Expenses | $58.74M | $45.25M | $32.58M |
YoY Change | 61.34% | 38.88% | 51.8% |
Operating Profit | $18.76M | $35.56M | $108.6M |
YoY Change | -84.37% | -67.26% | 50.59% |
Interest Expense | -$10.21M | $10.54M | $11.46M |
YoY Change | 17.39% | -8.0% | -26.07% |
% of Operating Profit | -54.41% | 29.65% | 10.55% |
Other Income/Expense, Net | -$600.0K | $242.0K | -$19.18M |
YoY Change | -50.98% | -101.26% | 40708.51% |
Pretax Income | $7.953M | $25.26M | $77.99M |
YoY Change | -92.78% | -67.61% | 37.82% |
Income Tax | $1.797M | $4.298M | $16.02M |
% Of Pretax Income | 22.6% | 17.01% | 20.55% |
Net Earnings | $6.156M | $20.96M | $61.96M |
YoY Change | -92.98% | -66.17% | 36.09% |
Net Earnings / Revenue | 5.64% | 18.42% | 33.28% |
Basic Earnings Per Share | $0.01 | $0.03 | $0.10 |
Diluted Earnings Per Share | $0.01 | $0.03 | $0.09 |
COMMON SHARES | |||
Basic Shares Outstanding | 654.3M shares | 651.9M shares | 648.8M shares |
Diluted Shares Outstanding | 680.3M shares | 683.5M shares | 693.0M shares |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $378.4M | $369.3M | $143.3M |
YoY Change | 91.09% | 157.65% | |
Cash & Equivalents | $378.4M | $369.3M | $143.3M |
Short-Term Investments | |||
Other Short-Term Assets | $13.40M | $16.67M | $8.196M |
YoY Change | 132.4% | 103.33% | |
Inventory | $128.5M | $132.0M | $117.5M |
Prepaid Expenses | |||
Receivables | $50.30M | $45.52M | $68.91M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $570.6M | $563.5M | $337.9M |
YoY Change | 34.12% | 66.76% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $932.0K | $1.026M | $740.0K |
YoY Change | 39.1% | 38.65% | |
Goodwill | $168.3M | $168.3M | $168.3M |
YoY Change | 0.0% | ||
Intangibles | $971.7M | $983.0M | $1.031B |
YoY Change | -4.68% | ||
Long-Term Investments | $6.364M | ||
YoY Change | |||
Other Assets | $11.35M | $10.00M | $6.364M |
YoY Change | -4.44% | 57.2% | |
Total Long-Term Assets | $1.152B | $1.162B | $1.217B |
YoY Change | -4.47% | -4.47% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $570.6M | $563.5M | $337.9M |
Total Long-Term Assets | $1.152B | $1.162B | $1.217B |
Total Assets | $1.723B | $1.726B | $1.555B |
YoY Change | 5.59% | 11.01% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $13.67M | $9.408M | $29.01M |
YoY Change | -33.98% | -67.56% | |
Accrued Expenses | $24.65M | $19.92M | $11.36M |
YoY Change | -23.42% | 75.33% | |
Deferred Revenue | $2.077M | $2.230M | $5.004M |
YoY Change | -55.44% | ||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $6.750M | $6.750M | $6.750M |
YoY Change | 0.0% | 0.0% | |
Total Short-Term Liabilities | $61.25M | $58.23M | $82.17M |
YoY Change | -29.58% | -29.14% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $651.7M | $653.0M | $658.3M |
YoY Change | -0.81% | -0.81% | |
Other Long-Term Liabilities | $189.4M | $205.7M | $225.1M |
YoY Change | -9.16% | -8.64% | |
Total Long-Term Liabilities | $841.1M | $653.0M | $658.3M |
YoY Change | -2.82% | -0.81% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $61.25M | $58.23M | $82.17M |
Total Long-Term Liabilities | $841.1M | $653.0M | $658.3M |
Total Liabilities | $905.1M | $919.2M | $965.6M |
YoY Change | -4.98% | -4.8% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $492.0M | $485.8M | $282.7M |
YoY Change | 71.82% | ||
Common Stock | $654.0K | $653.0K | $648.0K |
YoY Change | 0.77% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $817.9M | $806.6M | $589.0M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $1.723B | $1.726B | $1.555B |
YoY Change | 5.59% | 11.01% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $6.156M | $20.96M | $61.96M |
YoY Change | -92.98% | -66.17% | 36.09% |
Depreciation, Depletion And Amortization | $10.32M | $116.0K | $75.00K |
YoY Change | -17.75% | 54.67% | |
Cash From Operating Activities | $27.00M | $48.09M | $71.97M |
YoY Change | -51.86% | -33.18% | 74.3% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $1.365M | $107.0K | $68.00K |
YoY Change | -399.34% | 57.35% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$1.996M | ||
YoY Change | |||
Cash From Investing Activities | -$1.365M | -$631.0K | -$489.0K |
YoY Change | 199.34% | 29.04% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | ||
YoY Change | -100.0% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -16.56M | -$926.0K | -$114.5M |
YoY Change | 1648.15% | -99.19% | 2505.71% |
NET CHANGE | |||
Cash From Operating Activities | 27.00M | $48.09M | $71.97M |
Cash From Investing Activities | -1.365M | -$631.0K | -$489.0K |
Cash From Financing Activities | -16.56M | -$926.0K | -$114.5M |
Net Change In Cash | 9.078M | $46.53M | -$43.04M |
YoY Change | -83.4% | -208.11% | -216.66% |
FREE CASH FLOW | |||
Cash From Operating Activities | $27.00M | $48.09M | $71.97M |
Capital Expenditures | $1.365M | $107.0K | $68.00K |
Free Cash Flow | $25.63M | $47.98M | $71.90M |
YoY Change | -54.66% | -33.27% | 74.14% |
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|
4298000 | usd |
CY2022Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
16024000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
20964000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
61961000 | usd |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.03 | |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.10 | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.03 | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.09 | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
651730993 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
648813998 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
683485182 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
693021097 | shares |
CY2023Q1 | us-gaap |
Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
|
-557000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
|
0 | usd |
CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-557000 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
0 | usd |
CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
20407000 | usd |
CY2022Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
61961000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
780957000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
20964000 | usd |
CY2023Q1 | olpx |
Stock Issued During Period Value Non Option Equity Instruments Exercised
StockIssuedDuringPeriodValueNonOptionEquityInstrumentsExercised
|
326000 | usd |
CY2023Q1 | olpx |
Share Based Payment Arrangement Shares Withheld For Tax Withholding Obligation Amount
ShareBasedPaymentArrangementSharesWithheldForTaxWithholdingObligationAmount
|
390000 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
3299000 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2018000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
|
-557000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
806617000 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
524298000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
61961000 | usd |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
|
1632000 | usd |
CY2022Q1 | olpx |
Stock Issued During Period Value Non Option Equity Instruments Exercised
StockIssuedDuringPeriodValueNonOptionEquityInstrumentsExercised
|
348000 | usd |
CY2022Q1 | olpx |
Share Based Payment Arrangement Shares Withheld For Tax Withholding Obligation Amount
ShareBasedPaymentArrangementSharesWithheldForTaxWithholdingObligationAmount
|
920000 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2018000 | usd |
CY2022Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1696000 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1696000 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
589015000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
20964000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
61961000 | usd |
CY2023Q1 | us-gaap |
Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
|
1742000 | usd |
CY2022Q1 | us-gaap |
Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
|
1769000 | usd |
CY2023Q1 | olpx |
Amortization Of Other Intangible Assets
AmortizationOfOtherIntangibleAssets
|
10323000 | usd |
CY2022Q1 | olpx |
Amortization Of Other Intangible Assets
AmortizationOfOtherIntangibleAssets
|
10266000 | usd |
CY2023Q1 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
2610000 | usd |
CY2022Q1 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
4324000 | usd |
CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
116000 | usd |
CY2022Q1 | us-gaap |
Depreciation
Depreciation
|
75000 | usd |
CY2023Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
453000 | usd |
CY2022Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
146000 | usd |
CY2023Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
847000 | usd |
CY2022Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-1712000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
48089000 | usd |
CY2023Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
0 | usd |
CY2022Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-18803000 | usd |
CY2023Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-265000 | usd |
CY2022Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
0 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-704000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
28135000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-10407000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
22899000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
7108000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
-1425000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-340000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
9838000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
5116000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
14412000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
28000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
0 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
71969000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
107000 | usd |
CY2022Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
68000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Software
PaymentsToAcquireSoftware
|
524000 | usd |
CY2022Q1 | us-gaap |
Payments To Acquire Software
PaymentsToAcquireSoftware
|
421000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-631000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-489000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
2513000 | usd |
CY2022Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
0 | usd |
CY2023Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
64000 | usd |
CY2022Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
572000 | usd |
CY2023Q1 | us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
3375000 | usd |
CY2022Q1 | us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
777005000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
|
0 | usd |
CY2022Q1 | us-gaap |
Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
|
675000000 | usd |
CY2023Q1 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
0 | usd |
CY2022Q1 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
11944000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-926000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-114521000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
46532000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-43041000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
322808000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
186388000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
369340000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
143347000 | usd |
CY2023Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
91000 | usd |
CY2022Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
12000 | usd |
CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
13853000 | usd |
CY2022Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
10597000 | usd |
CY2023Q1 | olpx |
Initial Public Offering Costs Incurred But Not Yet Paid
InitialPublicOfferingCostsIncurredButNotYetPaid
|
0 | usd |
CY2022Q1 | olpx |
Initial Public Offering Costs Incurred But Not Yet Paid
InitialPublicOfferingCostsIncurredButNotYetPaid
|
145000 | usd |
CY2023Q1 | olpx |
Liability Reclassification To Additional Paid In Capital
LiabilityReclassificationToAdditionalPaidInCapital
|
0 | usd |
CY2022Q1 | olpx |
Liability Reclassification To Additional Paid In Capital
LiabilityReclassificationToAdditionalPaidInCapital
|
1632000 | usd |
CY2023Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Estimates and Assumptions</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Examples of estimates and assumptions include: for revenue recognition, determining the nature and timing of satisfaction of performance obligations, variable consideration, and other obligations such as product returns and refunds; loss contingencies; the fair value of share-based options and stock settled stock appreciation rights (“SARs”); the fair value of and/or potential impairment of goodwill and intangible assets for the Company’s reporting unit; the fair value of the Company’s interest rate cap; useful lives of the Company’s tangible and intangible assets; allowance for promotions; estimated income tax and tax receivable payments; the net realizable value of, and demand for the Company’s inventory. Actual results and outcomes may differ from management’s estimates and assumptions due to risks and uncertainties.</span></div> | |
CY2021Q4 | olpx |
Tax Receivable Agreement Percent Of Tax Benefits With Provided Payment
TaxReceivableAgreementPercentOfTaxBenefitsWithProvidedPayment
|
0.85 | |
CY2021Q4 | olpx |
Tax Receivable Agreement Percent Of Tax Benefits Retained By Company
TaxReceivableAgreementPercentOfTaxBenefitsRetainedByCompany
|
0.15 | |
CY2022Q4 | us-gaap |
Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
|
222100000 | usd |
CY2022 | olpx |
Related Party Transaction Term Of Agreement
RelatedPartyTransactionTermOfAgreement
|
P13Y | |
CY2023Q1 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain amounts presented have been reclassified within “Note 6 - Accrued Expenses and Other Current Liabilities” as of </span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December 31, 2022</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to conform with the current period presentation, including a prior year reclassification from Other accrued expenses and current liabilities to Accrued advertising. The reclassifications had no effect on the Company’s Total current liabilities.</span></div> | |
CY2023Q1 | olpx |
Number Of Business Channels
NumberOfBusinessChannels
|
3 | businesschannel |
CY2023Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
113787000 | usd |
CY2022Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
186196000 | usd |
CY2023Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
113787000 | usd |
CY2022Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
186196000 | usd |
CY2023Q1 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
40224000 | usd |
CY2022Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
36194000 | usd |
CY2023Q1 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
91790000 | usd |
CY2022Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
108231000 | usd |
CY2023Q1 | us-gaap |
Inventory Net
InventoryNet
|
132014000 | usd |
CY2022Q4 | us-gaap |
Inventory Net
InventoryNet
|
144425000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
1144446000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
161484000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
982962000 | usd |
CY2023Q1 | us-gaap |
Goodwill
Goodwill
|
168300000 | usd |
CY2023Q1 | us-gaap |
Goodwill
Goodwill
|
168300000 | usd |
CY2023Q1 | olpx |
Intangible Assets Gross Including Goodwill
IntangibleAssetsGrossIncludingGoodwill
|
1312746000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
161484000 | usd |
CY2023Q1 | us-gaap |
Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
|
1151262000 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
1143922000 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
148894000 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
995028000 | usd |
CY2022Q4 | us-gaap |
Goodwill
Goodwill
|
168300000 | usd |
CY2022Q4 | us-gaap |
Goodwill
Goodwill
|
168300000 | usd |
CY2022Q4 | olpx |
Intangible Assets Gross Including Goodwill
IntangibleAssetsGrossIncludingGoodwill
|
1312222000 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
148894000 | usd |
CY2022Q4 | us-gaap |
Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
|
1163328000 | usd |
CY2023Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
3911000 | usd |
CY2022Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
3187000 | usd |
CY2023Q1 | olpx |
Accrued Legal Settlement Current
AccruedLegalSettlementCurrent
|
3900000 | usd |
CY2022Q4 | olpx |
Accrued Legal Settlement Current
AccruedLegalSettlementCurrent
|
0 | usd |
CY2023Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2792000 | usd |
CY2022Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
4092000 | usd |
CY2023Q1 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
2230000 | usd |
CY2022Q4 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
2015000 | usd |
CY2023Q1 | olpx |
Accrued Freight Current
AccruedFreightCurrent
|
2213000 | usd |
CY2022Q4 | olpx |
Accrued Freight Current
AccruedFreightCurrent
|
3283000 | usd |
CY2023Q1 | us-gaap |
Accrued Advertising Current And Noncurrent
AccruedAdvertisingCurrentAndNoncurrent
|
2092000 | usd |
CY2022Q4 | us-gaap |
Accrued Advertising Current And Noncurrent
AccruedAdvertisingCurrentAndNoncurrent
|
1356000 | usd |
CY2023Q1 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
703000 | usd |
CY2022Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
814000 | usd |
CY2023Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
2078000 | usd |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
2360000 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
19919000 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
17107000 | usd |
CY2023Q1 | olpx |
Accrued Legal Settlement Current
AccruedLegalSettlementCurrent
|
3900000 | usd |
CY2023Q1 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
8494000 | usd |
CY2022Q4 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
8854000 | usd |
CY2023Q1 | us-gaap |
Long Term Debt
LongTermDebt
|
659756000 | usd |
CY2022Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
662771000 | usd |
CY2023Q1 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
6750000 | usd |
CY2022Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
8438000 | usd |
CY2023Q1 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
653006000 | usd |
CY2022Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
654333000 | usd |
CY2023Q1 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
10543000 | usd |
CY2022Q1 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
11460000 | usd |
CY2023Q1 | us-gaap |
Long Term Debt
LongTermDebt
|
659800000 | usd |
CY2023Q1 | us-gaap |
Long Term Debt Fair Value
LongTermDebtFairValue
|
593100000 | usd |
CY2022Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
662800000 | usd |
CY2022Q4 | us-gaap |
Long Term Debt Fair Value
LongTermDebtFairValue
|
624600000 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
|
109620 | shares |
CY2023Q1 | us-gaap |
Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
|
83501 | shares |
CY2023Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
3659267 | shares |
CY2022Q1 | olpx |
Deferred Compensation Arrangement With Individual Converted In Period Number Of Units
DeferredCompensationArrangementWithIndividualConvertedInPeriodNumberOfUnits
|
886950 | shares |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
|
117180 | shares |
CY2022Q1 | us-gaap |
Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
|
55244 | shares |
CY2023Q1 | us-gaap |
Loss Contingency Disclosures
LossContingencyDisclosures
|
CONTINGENCIESFrom time to time, the Company is subject to various legal actions arising in the ordinary course of business. The Company cannot predict with reasonable assurance the outcome of these legal actions brought against us as they are subject to uncertainties. Accordingly, any settlement or resolution in these legal actions may occur and affect the Company’s net income in such period as the settlement or resolution.<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Pending Legal Proceedings: </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 17, 2022, a putative securities class action was filed against the Company and certain of its current and former officers and directors in the United States District Court for the Central District of California, captioned Lilien v. Olaplex Holdings, Inc. et al., No. 2:22-cv-08395. A consolidated complaint was filed on April 28, 2023, which names as additional defendants the underwriters for the Company’s IPO and various stockholders that sold shares of common stock of the Company in the IPO. The action is brought on behalf of a putative class of purchasers of the Company’s common stock in or traceable to the Company’s IPO and asserts claims under Sections 11, 12, and 15 of the Securities Act of 1933. The action seeks certification of the putative class, compensatory damages, attorneys’ fees and costs, and any other relief that the court determines is appropriate. The Company expects the underwriter defendants to notify the Company of their intent to seek indemnification from the Company pursuant to the IPO underwriting agreement regarding the claims asserted in this action. The Company intends to vigorously defend the pending lawsuit.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 9, 2023, twenty-eight plaintiffs filed </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Albahae, et al. v. Olaplex Holdings, Inc., et al.,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> No. 2:23-cv-00982, a complaint alleging personal and economic injury and asserting claims for breach of warranty, negligence/gross negligence, products liability, unjust enrichment, and violations of California False Advertising Law and Unfair Competition Law, against the Company and Cosway Company, Inc., the Company’s primary contract manufacturer, in the United States District Court for the Central District of California. On March 2, 2023, the plaintiffs amended the complaint to include seventy-three additional plaintiffs. The plaintiffs allege that certain ingredients used in some Company products have purportedly caused irritation or posed a hazard to consumers, and that the Company engaged in misrepresentation with respect to those products. The plaintiffs seek actual and consequential damages, punitive damages, restitution in the form of disgorgement of profits, attorneys’ fees and costs, and any other relief that the court determines is appropriate. The Company intends to vigorously defend the pending lawsuit. On April 17, 2023, the Company moved to dismiss the plaintiffs’ claims. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Any potential loss associated with these pending legal proceedings is not probable or reasonably estimable at this time.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2023 and December 31, 2022, the Company was not subject to any other currently pending legal matters or claims that could have a material adverse effect on its financial position, results of operations, or cash flows should such litigation be resolved unfavorably.</span></div> | |
CY2023Q1 | us-gaap |
Loss Contingency Number Of Plaintiffs
LossContingencyNumberOfPlaintiffs
|
28 | plaintiff |
CY2023Q1 | us-gaap |
Loss Contingency Number Of Plaintiffs
LossContingencyNumberOfPlaintiffs
|
73 | plaintiff |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
20964000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
61961000 | usd |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
651730993 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
648813998 | shares |
CY2023Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
31754189 | shares |
CY2022Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
44207099 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
683485182 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
693021097 | shares |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.03 | |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.10 | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.03 | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.09 |