2024 Q4 Form 10-Q Financial Statement

#000183943924000080 Filed on November 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $167.5M $143.6M
YoY Change 16.64% 21.37%
Cost Of Revenue $59.22M $51.38M
YoY Change 15.26% 18.97%
Gross Profit $108.3M $92.21M
YoY Change 17.4% 22.75%
Gross Profit Margin 64.64% 64.22%
Selling, General & Admin $105.1M $101.5M
YoY Change 3.5% 5.64%
% of Gross Profit 97.07% 110.1%
Research & Development $17.43M $14.06M
YoY Change 24.0% 13.33%
% of Gross Profit 16.1% 15.24%
Depreciation & Amortization $1.451M $1.511M
YoY Change -3.97% 25.92%
% of Gross Profit 1.34% 1.64%
Operating Expenses $122.5M $115.6M
YoY Change 6.0% 6.52%
Operating Profit -$14.25M -$23.37M
YoY Change -39.01% -30.0%
Interest Expense -$1.138M $1.244M
YoY Change -191.48% 14.44%
% of Operating Profit
Other Income/Expense, Net $1.670M $931.0K
YoY Change 79.38% 109.21%
Pretax Income -$13.72M -$23.69M
YoY Change -42.06% -30.4%
Income Tax -$6.438M -$3.089M
% Of Pretax Income
Net Earnings -$7.284M -$20.60M
YoY Change -64.63% -29.11%
Net Earnings / Revenue -4.35% -14.34%
Basic Earnings Per Share -$0.04 -$0.12
Diluted Earnings Per Share -$0.04 -$0.12
COMMON SHARES
Basic Shares Outstanding 179.7M shares 178.8M shares 176.9M shares
Diluted Shares Outstanding 178.7M shares 177.0M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $97.62M $54.30M
YoY Change 79.78% -44.68%
Cash & Equivalents $97.62M $54.28M
Short-Term Investments
Other Short-Term Assets $8.673M $6.630M
YoY Change 30.81% 166.27%
Inventory
Prepaid Expenses $14.69M $13.20M
Receivables $47.96M $34.74M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.209B $1.201B
YoY Change 0.69% 8.23%
LONG-TERM ASSETS
Property, Plant & Equipment $48.89M $37.72M
YoY Change 29.61% 22.52%
Goodwill $766.8M $764.6M
YoY Change 0.29% 2.06%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.853M $2.987M
YoY Change -4.49% 79.72%
Total Long-Term Assets $1.232B $1.286B
YoY Change -4.2% -1.37%
TOTAL ASSETS
Total Short-Term Assets $1.209B $1.201B
Total Long-Term Assets $1.232B $1.286B
Total Assets $2.441B $2.487B
YoY Change -1.84% 3.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.42M $20.34M
YoY Change 0.39% 31.12%
Accrued Expenses $51.54M $44.60M
YoY Change 15.56% -0.25%
Deferred Revenue $13.12M $13.10M
YoY Change 0.21% 15.56%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.049B $1.116B
YoY Change -6.03% 10.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $68.31M $71.27M
YoY Change -4.15% -10.44%
Total Long-Term Liabilities $68.31M $71.27M
YoY Change -4.15% -10.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.049B $1.116B
Total Long-Term Liabilities $68.31M $71.27M
Total Liabilities $1.141B $1.217B
YoY Change -6.24% 6.83%
SHAREHOLDERS EQUITY
Retained Earnings -$555.7M -$510.1M
YoY Change 8.95% 20.18%
Common Stock $179.0K $177.0K
YoY Change 1.13% 0.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.300B $1.269B
YoY Change
Total Liabilities & Shareholders Equity $2.441B $2.487B
YoY Change -1.84% 3.04%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$7.284M -$20.60M
YoY Change -64.63% -29.11%
Depreciation, Depletion And Amortization $1.451M $1.511M
YoY Change -3.97% 25.92%
Cash From Operating Activities -$8.311M -$26.13M
YoY Change -68.19% 8.41%
INVESTING ACTIVITIES
Capital Expenditures $1.169M $1.435M
YoY Change -18.54% 333.53%
Acquisitions
YoY Change
Other Investing Activities -$5.109M $1.110M
YoY Change -560.27% -101.06%
Cash From Investing Activities -$19.85M -$13.59M
YoY Change 46.02% -88.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$143.2M -$16.47M
YoY Change 769.16% -97.87%
NET CHANGE
Cash From Operating Activities -$8.311M -$26.13M
Cash From Investing Activities -$19.85M -$13.59M
Cash From Financing Activities -$143.2M -$16.47M
Net Change In Cash -$171.3M -$56.19M
YoY Change 204.89% -93.86%
FREE CASH FLOW
Cash From Operating Activities -$8.311M -$26.13M
Capital Expenditures $1.169M $1.435M
Free Cash Flow -$9.480M -$27.56M
YoY Change -65.61% 12.82%

Facts In Submission

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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of estimates </span><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the evaluation of potential impairment of goodwill and intangible assets and the valuation of stock-based compensation.</span></div>The Company’s results of operations and financial condition can also be affected by economic, political, legislative, regulatory and legal actions, including but not limited to health epidemics and pandemics and their resulting economic impact. Economic conditions, such as recessionary trends, inflation, interest and monetary exchange rates, and government fiscal policies can have a significant effect on the Company’s results of operations and financial condition. While the Company maintains reserves for anticipated liabilities and carries various levels of insurance, the Company could be affected by civil, criminal, regulatory or administrative actions, claims or proceedings.
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Files In Submission

Name View Source Status
0001839439-24-000080-index-headers.html Edgar Link pending
0001839439-24-000080-index.html Edgar Link pending
0001839439-24-000080.txt Edgar Link pending
0001839439-24-000080-xbrl.zip Edgar Link pending
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