2024 Q3 Form 10-Q Financial Statement

#000163982524000163 Filed on October 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $586.0M
YoY Change -1.6%
Cost Of Revenue $282.2M
YoY Change -9.0%
Gross Profit $303.8M
YoY Change 6.45%
Gross Profit Margin 51.84%
Selling, General & Admin $201.4M
YoY Change -32.21%
% of Gross Profit 66.29%
Research & Development $58.50M
YoY Change -25.67%
% of Gross Profit 19.26%
Depreciation & Amortization $24.80M
YoY Change -19.48%
% of Gross Profit 8.16%
Operating Expenses $291.2M
YoY Change -30.27%
Operating Profit $12.50M
YoY Change -109.45%
Interest Expense -$12.50M
YoY Change -145.96%
% of Operating Profit -100.0%
Other Income/Expense, Net -$12.60M
YoY Change -51.91%
Pretax Income $0.00
YoY Change -100.0%
Income Tax $800.0K
% Of Pretax Income
Net Earnings -$900.0K
YoY Change -99.44%
Net Earnings / Revenue -0.15%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 378.8M shares
Diluted Shares Outstanding 378.8M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $722.3M
YoY Change -3.5%
Cash & Equivalents $722.3M
Short-Term Investments
Other Short-Term Assets $127.7M
YoY Change -43.14%
Inventory $333.3M
Prepaid Expenses
Receivables $101.8M
Other Receivables $0.00
Total Short-Term Assets $1.285B
YoY Change -19.05%
LONG-TERM ASSETS
Property, Plant & Equipment $330.5M
YoY Change -21.37%
Goodwill $41.20M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $21.30M
YoY Change -13.06%
Total Long-Term Assets $872.0M
YoY Change -19.65%
TOTAL ASSETS
Total Short-Term Assets $1.285B
Total Long-Term Assets $872.0M
Total Assets $2.157B
YoY Change -19.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $399.8M
YoY Change -17.65%
Accrued Expenses $73.00M
YoY Change -8.41%
Deferred Revenue $154.5M
YoY Change -11.05%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $10.00M
YoY Change 33.33%
Total Short-Term Liabilities $640.2M
YoY Change -14.64%
LONG-TERM LIABILITIES
Long-Term Debt $1.490B
YoY Change -11.35%
Other Long-Term Liabilities $25.60M
YoY Change -7.58%
Total Long-Term Liabilities $25.60M
YoY Change -7.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $640.2M
Total Long-Term Liabilities $25.60M
Total Liabilities $2.637B
YoY Change -13.35%
SHAREHOLDERS EQUITY
Retained Earnings -$5.485B
YoY Change 7.73%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$480.3M
YoY Change
Total Liabilities & Shareholders Equity $2.157B
YoY Change -19.29%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income -$900.0K
YoY Change -99.44%
Depreciation, Depletion And Amortization $24.80M
YoY Change -19.48%
Cash From Operating Activities $12.50M
YoY Change -115.78%
INVESTING ACTIVITIES
Capital Expenditures $1.800M
YoY Change -56.1%
Acquisitions
YoY Change
Other Investing Activities $4.200M
YoY Change
Cash From Investing Activities $2.400M
YoY Change -158.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $2.500M
YoY Change 31.58%
Cash From Financing Activities $4.800M
YoY Change -41.46%
NET CHANGE
Cash From Operating Activities $12.50M
Cash From Investing Activities $2.400M
Cash From Financing Activities $4.800M
Net Change In Cash $21.20M
YoY Change -128.08%
FREE CASH FLOW
Cash From Operating Activities $12.50M
Capital Expenditures $1.800M
Free Cash Flow $10.70M
YoY Change -112.85%

Facts In Submission

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<div style="margin-bottom:12pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The preparation of these financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosures. On an ongoing basis, the Company evaluates its estimates, including, among others, those related to revenue related reserves, product recall and corrective action cost, the realizability of inventory, fair value measurements, the incremental borrowing rate associated with lease liabilities, impairment of long-lived and intangible assets, useful lives of long-lived assets, including property and equipment and finite-lived intangible assets, product warranty, goodwill, accounting for income taxes, stock-based compensation expense, transaction price estimates, the fair values of assets acquired and liabilities assumed in business combinations and asset acquisitions, future restructuring charges, contingent consideration, and commitments and contingencies. Actual results may differ from these estimates.</span></div>
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