2021 Q4 Form 10-Q Financial Statement

#000114519721000041 Filed on November 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q4
Revenue $307.7M $100.0K $246.1M
YoY Change 25.03% -80.0% 17.53%
Cost Of Revenue $94.50M $86.90M $85.00M
YoY Change 11.18% 5.72% 12.88%
Gross Profit $213.2M $188.7M $161.1M
YoY Change 32.34% 24.31% 20.13%
Gross Profit Margin 69.29% 188700.0% 65.46%
Selling, General & Admin $121.7M $117.5M $130.1M
YoY Change -6.46% 31.73% 60.02%
% of Gross Profit 57.08% 62.27% 80.76%
Research & Development $41.80M $37.50M $38.30M
YoY Change 9.14% -3.35% 10.37%
% of Gross Profit 19.61% 19.87% 23.77%
Depreciation & Amortization $14.90M $14.50M $25.70M
YoY Change -42.02% 33.03% 181.8%
% of Gross Profit 6.99% 7.68% 15.95%
Operating Expenses $163.5M $37.50M $168.4M
YoY Change -2.91% -3.35% 45.17%
Operating Profit $49.70M $33.70M -$7.300M
YoY Change -780.82% 41.6% -140.33%
Interest Expense -$15.50M $16.40M -$11.20M
YoY Change 38.39% 37.82% 23.08%
% of Operating Profit -31.19% 48.66%
Other Income/Expense, Net -$700.0K
YoY Change -170.0%
Pretax Income $33.40M $15.20M -$18.50M
YoY Change -280.54% 13.43% -372.06%
Income Tax $4.200M $2.600M -$1.400M
% Of Pretax Income 12.57% 17.11%
Net Earnings $29.20M $12.60M -$17.10M
YoY Change -270.76% 8.62% -442.0%
Net Earnings / Revenue 9.49% 12600.0% -6.95%
Basic Earnings Per Share $0.18
Diluted Earnings Per Share $402.2K $0.18 -$259.1K
COMMON SHARES
Basic Shares Outstanding 68.97M shares 68.87M shares 65.93M shares
Diluted Shares Outstanding 69.62M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $806.4M $857.1M $947.6M
YoY Change -14.9% -4.42% 151.95%
Cash & Equivalents $806.4M $856.6M $907.2M
Short-Term Investments $0.00 $500.0K $40.40M
Other Short-Term Assets $75.60M $79.40M $65.80M
YoY Change 14.89% 38.81% 93.53%
Inventory $303.2M $259.0M $154.3M
Prepaid Expenses
Receivables $135.2M $114.3M $95.30M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.330B $1.307B $1.249B
YoY Change 6.49% 12.62% 111.29%
LONG-TERM ASSETS
Property, Plant & Equipment $536.5M $515.4M $478.7M
YoY Change 12.07% 14.74% 19.85%
Goodwill $39.80M $39.80M $39.80M
YoY Change 0.0% 0.25% 0.0%
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $106.1M $99.60M $77.00M
YoY Change 37.79% 97.62% 87.35%
Total Long-Term Assets $719.0M $692.0M $624.2M
YoY Change 15.19% 25.77% 13.1%
TOTAL ASSETS
Total Short-Term Assets $1.330B $1.307B $1.249B
Total Long-Term Assets $719.0M $692.0M $624.2M
Total Assets $2.049B $1.999B $1.873B
YoY Change 9.39% 16.85% 63.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.70M $58.00M $54.10M
YoY Change -30.31% 1.75% -0.73%
Accrued Expenses $164.3M $141.7M $138.1M
YoY Change 18.97% 19.88% 33.82%
Deferred Revenue $3.500M $3.500M $5.400M
YoY Change -35.19% -18.6% 68.75%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $25.10M $28.90M $15.60M
YoY Change 60.9%
Total Short-Term Liabilities $228.8M $228.6M $207.8M
YoY Change 10.11% 30.48% 31.77%
LONG-TERM LIABILITIES
Long-Term Debt $1.249B $1.257B $1.044B
YoY Change 19.65% 36.41% 17.55%
Other Long-Term Liabilities $14.90M $15.40M $17.80M
YoY Change -16.29% -18.52% -16.82%
Total Long-Term Liabilities $1.264B $1.272B $1.062B
YoY Change 19.05% 35.3% 16.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $228.8M $228.6M $207.8M
Total Long-Term Liabilities $1.264B $1.272B $1.062B
Total Liabilities $1.493B $1.501B $1.269B
YoY Change 17.58% 34.55% 18.96%
SHAREHOLDERS EQUITY
Retained Earnings -$649.5M -$678.7M -$666.3M
YoY Change -2.52% 4.54% -0.85%
Common Stock $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $556.3M $497.9M $603.6M
YoY Change
Total Liabilities & Shareholders Equity $2.049B $1.999B $1.873B
YoY Change 9.39% 16.85% 63.87%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q4
OPERATING ACTIVITIES
Net Income $29.20M $12.60M -$17.10M
YoY Change -270.76% 8.62% -442.0%
Depreciation, Depletion And Amortization $14.90M $14.50M $25.70M
YoY Change -42.02% 33.03% 181.8%
Cash From Operating Activities -$25.50M -$25.80M -$1.000M
YoY Change 2450.0% -141.48% -102.13%
INVESTING ACTIVITIES
Capital Expenditures -$36.90M -$29.20M -$69.70M
YoY Change -47.06% -34.53% 39.62%
Acquisitions
YoY Change
Other Investing Activities $500.0K $17.00M $18.40M
YoY Change -97.28% -41.98% -552.09%
Cash From Investing Activities -$36.40M -$12.20M -$51.30M
YoY Change -29.04% -20.26% -5.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.500M 42.20M 130.1M
YoY Change -101.15% 301.9% -164.26%
NET CHANGE
Cash From Operating Activities -25.50M -25.80M -1.000M
Cash From Investing Activities -36.40M -12.20M -51.30M
Cash From Financing Activities -1.500M 42.20M 130.1M
Net Change In Cash -63.40M 4.200M 77.80M
YoY Change -181.49% -92.68% -137.13%
FREE CASH FLOW
Cash From Operating Activities -$25.50M -$25.80M -$1.000M
Capital Expenditures -$36.90M -$29.20M -$69.70M
Free Cash Flow $11.40M $3.400M $68.70M
YoY Change -83.41% -96.82% -29.07%

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CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
3000000.0 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
600000 USD
CY2021Q3 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
8400000 USD
CY2020Q3 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
2100000 USD
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
18900000 USD
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
6400000 USD
CY2021Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
7500000 USD
CY2020Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
10600000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
29200000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
31500000 USD
CY2021Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
900000 USD
CY2020Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
700000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2700000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2100000 USD
CY2021Q3 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
400000 USD
CY2020Q3 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
1500000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
4200000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
4700000 USD
CY2021Q3 us-gaap Interest Expense
InterestExpense
16400000 USD
CY2020Q3 us-gaap Interest Expense
InterestExpense
11900000 USD
us-gaap Interest Expense
InterestExpense
46600000 USD
us-gaap Interest Expense
InterestExpense
35300000 USD
CY2021Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
100000 USD
CY2020Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
500000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
500000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
2700000 USD
CY2021Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-16300000 USD
CY2020Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-11400000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-46100000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-32600000 USD
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8200000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6600000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
25800000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20300000 USD
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.169
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.044
CY2020Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.133
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.153
CY2020Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68869000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65718000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67236000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64329000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69619000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66828000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67236000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65598000 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3912000 shares
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8186000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7321000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8177000 shares
CY2021Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
13800000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
19300000 USD
CY2021Q3 us-gaap Accounts Receivable Related Parties
AccountsReceivableRelatedParties
14100000 USD
CY2021Q3 podd Accounts Payable And Deferred Revenue Related Parties
AccountsPayableAndDeferredRevenueRelatedParties
900000 USD

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