2022 Q1 Form 10-Q Financial Statement

#000168024722000013 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $282.7M $161.5M
YoY Change 75.08% -59.13%
Cost Of Revenue $197.3M $123.4M
YoY Change 59.86% -58.98%
Gross Profit $85.41M $38.08M
YoY Change 124.29% -59.58%
Gross Profit Margin 30.21% 23.59%
Selling, General & Admin $31.71M $20.20M
YoY Change 56.97% -18.88%
% of Gross Profit 37.12% 53.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $31.85M $33.48M
YoY Change -4.85% -16.73%
% of Gross Profit 37.3% 87.91%
Operating Expenses $63.56M $53.60M
YoY Change 18.58% -17.79%
Operating Profit $5.731M -$28.65M
YoY Change -120.0% 285.66%
Interest Expense $134.0K $176.0K
YoY Change -23.86% -86.26%
% of Operating Profit 2.34%
Other Income/Expense, Net $10.22M $1.613M
YoY Change 533.79% -225.62%
Pretax Income $15.95M -$27.04M
YoY Change -159.01% 210.32%
Income Tax $4.137M -$6.663M
% Of Pretax Income 25.93%
Net Earnings $11.82M -$20.38M
YoY Change -158.0% 161.08%
Net Earnings / Revenue 4.18% -12.62%
Basic Earnings Per Share $0.11 -$0.20
Diluted Earnings Per Share $0.11 -$0.20
COMMON SHARES
Basic Shares Outstanding 103.7M shares 101.6M shares
Diluted Shares Outstanding 105.4M shares 101.6M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.77M $55.90M
YoY Change 26.6% -61.1%
Cash & Equivalents $70.77M $55.86M
Short-Term Investments
Other Short-Term Assets $491.0K $14.00K
YoY Change 3407.14% -97.8%
Inventory $2.297M $2.329M
Prepaid Expenses $5.092M $7.853M
Receivables $172.2M $110.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $250.8M $176.4M
YoY Change 42.16% -53.32%
LONG-TERM ASSETS
Property, Plant & Equipment $831.6M $866.1M
YoY Change -3.97% -14.98%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.089M $1.656M
YoY Change -34.24% -29.44%
Total Long-Term Assets $833.6M $868.3M
YoY Change -4.0% 29.07%
TOTAL ASSETS
Total Short-Term Assets $250.8M $176.4M
Total Long-Term Assets $833.6M $868.3M
Total Assets $1.084B $1.045B
YoY Change 3.8% -0.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $151.7M $108.9M
YoY Change 39.23% -45.11%
Accrued Expenses $19.74M $19.19M
YoY Change 2.88% -28.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $172.1M $128.5M
YoY Change 33.97% -43.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $270.0K $400.0K
YoY Change -32.5% -42.86%
Total Long-Term Liabilities $270.0K $400.0K
YoY Change -32.5% -99.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $172.1M $128.5M
Total Long-Term Liabilities $270.0K $400.0K
Total Liabilities $237.2M $197.5M
YoY Change 20.11% -54.94%
SHAREHOLDERS EQUITY
Retained Earnings -$6.813M $15.18M
YoY Change -144.88% -88.74%
Common Stock $854.0M $832.1M
YoY Change 2.64% 0.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $847.2M $847.3M
YoY Change
Total Liabilities & Shareholders Equity $1.084B $1.045B
YoY Change 3.8% -25.37%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $11.82M -$20.38M
YoY Change -158.0% 161.08%
Depreciation, Depletion And Amortization $31.85M $33.48M
YoY Change -4.85% -16.73%
Cash From Operating Activities $25.17M $17.01M
YoY Change 47.99% -72.45%
INVESTING ACTIVITIES
Capital Expenditures $64.32M $22.49M
YoY Change 185.96% -52.43%
Acquisitions
YoY Change
Other Investing Activities $275.0K $200.0K
YoY Change 37.5% -71.43%
Cash From Investing Activities -$64.05M -$22.27M
YoY Change 187.6% -52.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -$2.272M -$7.651M
YoY Change -70.3% -62.65%
NET CHANGE
Cash From Operating Activities $25.17M $17.01M
Cash From Investing Activities -$64.05M -$22.27M
Cash From Financing Activities -$2.272M -$7.651M
Net Change In Cash -$41.15M -$12.91M
YoY Change 218.67% 142.77%
FREE CASH FLOW
Cash From Operating Activities $25.17M $17.01M
Capital Expenditures $64.32M $22.49M
Free Cash Flow -$39.15M -$5.486M
YoY Change 613.69% -138.01%

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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
68772000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70768000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
55859000 USD
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2022Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
70600000 USD
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
19400000 USD
CY2022Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
35500000 USD
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
200000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
217000 USD
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 USD
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
217000 USD
CY2021Q1 pump Impairment Of Property And Equipment
ImpairmentOfPropertyAndEquipment
0 USD
CY2022Q1 pump Impairment Of Property And Equipment
ImpairmentOfPropertyAndEquipment
0 USD
CY2022Q1 us-gaap Property Plant And Equipment Fair Value Disclosure
PropertyPlantAndEquipmentFairValueDisclosure
88000000 USD
CY2018 pump Line Of Credit Facility Coverage Ratio Establishing Threshold Option One Percentage Of Facility Size And Borrowing Base
LineOfCreditFacilityCoverageRatioEstablishingThresholdOptionOnePercentageOfFacilitySizeAndBorrowingBase
0.10
CY2018Q4 pump Line Of Credit Facility Coverage Ratio Establishing Threshold Option Two Amount
LineOfCreditFacilityCoverageRatioEstablishingThresholdOptionTwoAmount
22500000 USD
CY2022Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2022Q1 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
17300000 USD
CY2021Q1 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
5000000 USD
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
282680000 USD
CY2022Q1 pump Earnings Before Income Taxes Depreciationand Amortization Adjusted For One Time And Nonrecurring Charges
EarningsBeforeIncomeTaxesDepreciationandAmortizationAdjustedForOneTimeAndNonrecurringCharges
66533000 USD
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
31854000 USD
CY2022Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
71728000 USD
CY2022Q1 us-gaap Assets
Assets
1084451000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
161458000 USD
CY2021Q1 pump Earnings Before Income Taxes Depreciationand Amortization Adjusted For One Time And Nonrecurring Charges
EarningsBeforeIncomeTaxesDepreciationandAmortizationAdjustedForOneTimeAndNonrecurringCharges
20017000 USD
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
33478000 USD
CY2021Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
32328000 USD
CY2021Q4 us-gaap Assets
Assets
1061236000 USD
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
11817000 USD
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
31854000 USD
CY2022Q1 us-gaap Interest Expense
InterestExpense
134000 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4137000 USD
CY2022Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-16117000 USD
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
11364000 USD
CY2022Q1 pump Other Nonoperating Expense Income
OtherNonoperatingExpenseIncome
-10357000 USD
CY2022Q1 pump Other General And Administrative Expense Reimbursement
OtherGeneralAndAdministrativeExpenseReimbursement
1467000 USD
CY2022Q1 pump Earnings Before Income Taxes Depreciationand Amortization Adjusted For One Time And Nonrecurring Charges
EarningsBeforeIncomeTaxesDepreciationandAmortizationAdjustedForOneTimeAndNonrecurringCharges
66533000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-20375000 USD
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
33478000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
176000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6663000 USD
CY2021Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-13052000 USD
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2487000 USD
CY2021Q1 pump Other Nonoperating Expense Income
OtherNonoperatingExpenseIncome
-1789000 USD
CY2021Q1 pump Other General And Administrative Expense Reimbursement
OtherGeneralAndAdministrativeExpenseReimbursement
-961000 USD
CY2021Q1 us-gaap Severance Costs1
SeveranceCosts1
612000 USD
CY2021Q1 pump Earnings Before Income Taxes Depreciationand Amortization Adjusted For One Time And Nonrecurring Charges
EarningsBeforeIncomeTaxesDepreciationandAmortizationAdjustedForOneTimeAndNonrecurringCharges
20017000 USD
CY2022Q1 us-gaap Insurance Recoveries
InsuranceRecoveries
1000000 USD
CY2021Q1 us-gaap Insurance Recoveries
InsuranceRecoveries
1600000 USD
CY2022Q1 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
10700000 USD
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
11817000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-20375000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103683000 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101550000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
105384000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
101550000 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.20
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
937000 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4956000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2300000 USD
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2300000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
800000 USD
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y4M24D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y4M24D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
798000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.77
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
105000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.00
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
0 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
693000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.65
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
693000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
10.65
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
100000 USD
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
100000 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.067
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1900000 USD
CY2022Q1 pump Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
900000 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1200000 USD
CY2021Q4 pump Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
800000 USD
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000 USD
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
540000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
398000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
50000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
988000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
33000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
955000 USD
CY2022Q1 pump Payments Includedin Measurementof Operating Lease Liabilities
PaymentsIncludedinMeasurementofOperatingLeaseLiabilities
100000 USD
CY2021Q1 pump Payments Includedin Measurementof Operating Lease Liabilities
PaymentsIncludedinMeasurementofOperatingLeaseLiabilities
100000 USD
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
200000 USD
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
200000 USD
CY2022Q1 us-gaap Short Term Lease Commitment Amount
ShortTermLeaseCommitmentAmount
3100000 USD
CY2022Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
4200000 USD

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0001680247-22-000013.txt Edgar Link pending
0001680247-22-000013-xbrl.zip Edgar Link pending
a03312022exhibit311.htm Edgar Link pending
a03312022exhibit312.htm Edgar Link pending
a03312022exhibit321.htm Edgar Link pending
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