2020 Q1 Form 10-Q Financial Statement

#000101473920000020 Filed on May 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $705.4M $476.5M
YoY Change 48.05% 182.64%
Cost Of Revenue $547.4M $121.3M
YoY Change 351.32% 6.83%
Gross Profit $158.0M $98.19M
YoY Change 60.94% -3.44%
Gross Profit Margin 22.4% 20.61%
Selling, General & Admin $129.3M $82.79M
YoY Change 56.16% 673.71%
% of Gross Profit 81.81% 84.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.10M $9.969M
YoY Change 101.64% 53.7%
% of Gross Profit 12.72% 10.15%
Operating Expenses $149.4M $92.76M
YoY Change 61.05% 59.0%
Operating Profit $8.648M $5.438M
YoY Change 59.03% 77.42%
Interest Expense $28.09M $11.05M
YoY Change 154.3% -182.46%
% of Operating Profit 324.78% 203.11%
Other Income/Expense, Net $8.000K -$5.156M
YoY Change -100.16% -46.58%
Pretax Income -$18.90M -$10.27M
YoY Change 84.1% -20.66%
Income Tax $1.000M -$1.400M
% Of Pretax Income
Net Earnings -$19.91M -$3.712M
YoY Change 436.37% -45.82%
Net Earnings / Revenue -2.82% -0.78%
Basic Earnings Per Share -$0.11 -$0.03
Diluted Earnings Per Share -$0.11 -$0.03
COMMON SHARES
Basic Shares Outstanding 176.7M shares 128.1M shares
Diluted Shares Outstanding 131.4M shares

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $77.20M $5.700M
YoY Change 1254.39% -81.25%
Cash & Equivalents $77.24M $5.703M
Short-Term Investments
Other Short-Term Assets $47.70M $17.10M
YoY Change 178.95% 8.23%
Inventory $139.1M $27.47M
Prepaid Expenses
Receivables $337.2M $120.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $601.3M $171.1M
YoY Change 251.45% -2.76%
LONG-TERM ASSETS
Property, Plant & Equipment $125.8M $27.80M
YoY Change 352.5% 11.32%
Goodwill $1.428B $632.5M
YoY Change 125.76% 72.24%
Intangibles
YoY Change
Long-Term Investments $17.00M
YoY Change
Other Assets $21.73M $1.719M
YoY Change 1163.82% -17.44%
Total Long-Term Assets $2.011B $426.1M
YoY Change 372.01% 3.69%
TOTAL ASSETS
Total Short-Term Assets $601.3M $171.1M
Total Long-Term Assets $2.011B $426.1M
Total Assets $2.613B $597.2M
YoY Change 337.47% 1.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $265.7M $77.46M
YoY Change 243.03% 12.53%
Accrued Expenses $100.9M $32.70M
YoY Change 208.56% 8.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $9.250M $4.500M
YoY Change 105.56% 309.09%
Total Short-Term Liabilities $379.0M $115.6M
YoY Change 227.91% 11.47%
LONG-TERM LIABILITIES
Long-Term Debt $1.276B $506.7M
YoY Change 151.89% 5.47%
Other Long-Term Liabilities $29.70M $15.75M
YoY Change 88.64% -13.88%
Total Long-Term Liabilities $1.363B $15.75M
YoY Change 8556.81% -13.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $379.0M $115.6M
Total Long-Term Liabilities $1.363B $15.75M
Total Liabilities $1.742B $657.3M
YoY Change 165.04% 9.12%
SHAREHOLDERS EQUITY
Retained Earnings -$111.9M -$771.5M
YoY Change -85.5% 6.78%
Common Stock $1.009B $616.5M
YoY Change 63.6% -0.99%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.403M $1.336M
YoY Change 79.87% 277.4%
Treasury Stock Shares 383.7K shares 407.2K shares
Shareholders Equity $870.5M $597.2M
YoY Change
Total Liabilities & Shareholders Equity $2.613B $597.2M
YoY Change 337.47% 1.76%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$19.91M -$3.712M
YoY Change 436.37% -45.82%
Depreciation, Depletion And Amortization $20.10M $9.969M
YoY Change 101.64% 53.7%
Cash From Operating Activities $18.40M $9.080M
YoY Change 102.68% -274.88%
INVESTING ACTIVITIES
Capital Expenditures $5.353M $5.367M
YoY Change -0.26% 102.83%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$636.0K
YoY Change -100.0%
Cash From Investing Activities -$5.353M -$4.731M
YoY Change 13.15% 78.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$2.862M -$3.038M
YoY Change -5.79% 139.78%
NET CHANGE
Cash From Operating Activities $18.40M $9.080M
Cash From Investing Activities -$5.353M -$4.731M
Cash From Financing Activities -$2.862M -$3.038M
Net Change In Cash $10.19M $1.311M
YoY Change 677.12% -114.4%
FREE CASH FLOW
Cash From Operating Activities $18.40M $9.080M
Capital Expenditures $5.353M $5.367M
Free Cash Flow $13.05M $3.713M
YoY Change 251.47% -147.37%

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NetIncomeLoss
-19910000 USD
CY2019Q1 us-gaap Operating Expenses
OperatingExpenses
92756000 USD
CY2020Q1 us-gaap Operating Expenses
OperatingExpenses
149381000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
5438000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
8648000 USD
CY2019Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
5200000 USD
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
7700000 USD
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
73893000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
20391000 USD
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
19352000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
58242000 USD
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
54541000 USD
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
3765000 USD
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
4740000 USD
CY2019Q1 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
4671000 USD
CY2020Q1 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
6798000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
63502000 USD
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
58669000 USD
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0547
CY2020Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
700000 USD
CY2019Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
22741000 USD
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y3M19D
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-111865000 USD
CY2020Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
21725000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-505000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-16632000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
-242000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
0 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
-747000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
-16632000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-505000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-16632000 USD
CY2019Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
15085000 USD
CY2020Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
29702000 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-76000 USD
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
8000 USD
CY2019Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-535000 USD
CY2020Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-882000 USD
CY2019Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-636000 USD
CY2020Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
CY2019Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
549000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5367000 USD
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5353000 USD
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
12500000 shares
CY2020Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
12500000 shares
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2020Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2020Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
51306000 USD
CY2020Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
47703000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
211820000 USD
CY2020Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
207031000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
133198000 USD
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
125786000 USD
CY2019Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
1038000 USD
CY2020Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
2313000 USD
CY2019Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
2000000 USD
CY2020Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 USD
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-91955000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
476492000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
705440000 USD
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
82787000 USD
CY2020Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
129280000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
584000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
757000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
602825000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
597171000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
906827000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
870493000 USD
CY2020Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.25
CY2019Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
383722 shares
CY2020Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
383722 shares
CY2019Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2403000 USD
CY2020Q1 us-gaap Treasury Stock Value
TreasuryStockValue
2403000 USD
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
142614000 shares
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
176661000 shares

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