$QNST
QUINSTREET, INC

2017 Q3 Form 10-Q Financial Statement

#000156459017022159 Filed on November 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $87.42M $73.40M
YoY Change 19.1% 1.4%
Cost Of Revenue $75.94M $67.81M
YoY Change 11.99% 3.06%
Gross Profit $11.48M $5.630M
YoY Change 103.87% -14.62%
Gross Profit Margin 13.13% 7.67%
Selling, General & Admin $6.907M $6.621M
YoY Change 4.32% -15.57%
% of Gross Profit 60.18% 117.6%
Research & Development $3.214M $3.954M
YoY Change -18.72% -11.03%
% of Gross Profit 28.0% 70.23%
Depreciation & Amortization $2.260M $3.370M
YoY Change -32.94% -14.47%
% of Gross Profit 19.69% 59.86%
Operating Expenses $10.12M $10.58M
YoY Change -4.29% -13.93%
Operating Profit $1.357M -$4.945M
YoY Change -127.44% -14.96%
Interest Expense $0.00 $156.0K
YoY Change -100.0% 17.29%
% of Operating Profit 0.0%
Other Income/Expense, Net $43.00K $135.0K
YoY Change -68.15% -336.84%
Pretax Income $1.437M -$4.945M
YoY Change -129.06% -17.57%
Income Tax -$8.000K -$1.376M
% Of Pretax Income -0.56%
Net Earnings $1.445M -$3.569M
YoY Change -140.49% -43.92%
Net Earnings / Revenue 1.65% -4.86%
Basic Earnings Per Share $0.03 -$0.08
Diluted Earnings Per Share $0.03 -$0.08
COMMON SHARES
Basic Shares Outstanding 45.58M 45.67M
Diluted Shares Outstanding 46.73M 45.67M

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.40M $53.60M
YoY Change -5.97% -11.64%
Cash & Equivalents $50.37M $53.57M
Short-Term Investments
Other Short-Term Assets $7.200M $7.700M
YoY Change -6.49% 22.22%
Inventory
Prepaid Expenses
Receivables $48.90M $44.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $106.5M $105.6M
YoY Change 0.85% -6.34%
LONG-TERM ASSETS
Property, Plant & Equipment $5.200M $7.300M
YoY Change -28.77% -16.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.300M $11.20M
YoY Change -25.89% 271.85%
Total Long-Term Assets $72.60M $82.90M
YoY Change -12.42% -1.86%
TOTAL ASSETS
Total Short-Term Assets $106.5M $105.6M
Total Long-Term Assets $72.60M $82.90M
Total Assets $179.1M $188.5M
YoY Change -4.99% -4.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.40M $20.60M
YoY Change 33.01% 6.15%
Accrued Expenses $26.20M $23.80M
YoY Change 10.08% -5.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $15.00M
YoY Change 30512.24%
Total Short-Term Liabilities $54.40M $60.40M
YoY Change -9.93% 31.7%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $3.500M $4.500M
YoY Change -22.22% -20.23%
Total Long-Term Liabilities $3.500M $4.500M
YoY Change -22.22% -78.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $54.40M $60.40M
Total Long-Term Liabilities $3.500M $4.500M
Total Liabilities $57.90M $65.00M
YoY Change -10.92% -2.26%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $121.1M $123.5M
YoY Change
Total Liabilities & Shareholders Equity $179.1M $188.5M
YoY Change -4.99% -4.42%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $1.445M -$3.569M
YoY Change -140.49% -43.92%
Depreciation, Depletion And Amortization $2.260M $3.370M
YoY Change -32.94% -14.47%
Cash From Operating Activities $2.324M $1.210M
YoY Change 92.07% -62.65%
INVESTING ACTIVITIES
Capital Expenditures $124.0K $401.0K
YoY Change -69.08% -18.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $53.00K
YoY Change -100.0% 32.5%
Cash From Investing Activities -$667.0K -$1.010M
YoY Change -33.96% -41.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $125.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -851.0K -350.0K
YoY Change 143.14% -73.48%
NET CHANGE
Cash From Operating Activities 2.324M 1.210M
Cash From Investing Activities -667.0K -1.010M
Cash From Financing Activities -851.0K -350.0K
Net Change In Cash 796.0K -150.0K
YoY Change -630.67% -178.95%
FREE CASH FLOW
Cash From Operating Activities $2.324M $1.210M
Capital Expenditures $124.0K $401.0K
Free Cash Flow $2.200M $809.0K
YoY Change 171.94% -70.59%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q3 us-gaap Cost Of Revenue
CostOfRevenue
75940000
CY2016Q3 us-gaap Cost Of Revenue
CostOfRevenue
67808000
CY2017Q3 us-gaap Gross Profit
GrossProfit
11478000
CY2016Q3 us-gaap Gross Profit
GrossProfit
5630000
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3214000
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3954000
CY2017Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2447000
CY2016Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2590000
CY2017Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4460000
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4031000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1357000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-4945000
CY2017Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
37000
CY2016Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
21000
CY2017Q3 us-gaap Interest Expense
InterestExpense
0
CY2016Q3 us-gaap Interest Expense
InterestExpense
156000
CY2017Q3 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-292000
CY2016Q3 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-163000
CY2017Q3 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
2324000
CY2016Q3 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
1207000
CY2017Q3 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-667000
CY2016Q3 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1006000
CY2017Q3 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-851000
CY2016Q3 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-347000
CY2017Q3 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-10000
CY2016Q3 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
2000
CY2017Q3 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
796000
CY2016Q3 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-144000
CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53710000
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53566000
CY2017Q3 us-gaap Interest Paid
InterestPaid
0
CY2016Q3 us-gaap Interest Paid
InterestPaid
138000
CY2017Q3 us-gaap Income Taxes Paid
IncomeTaxesPaid
90000
CY2016Q3 us-gaap Income Taxes Paid
IncomeTaxesPaid
38000
CY2017Q3 us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1. The Company</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:2.27%;">QuinStreet, Inc. (the &#8220;Company&#8221;) is a leader in performance marketing products and technologies. The Company was incorporated in California in April 1999 and reincorporated in Delaware in December 2009. The Company specializes in customer acquisition for clients in high value, information-intensive markets or &#8220;verticals,&#8221; including financial services, education, home services and business-to-business technology. The corporate headquarters are located in Foster City, California, with additional offices throughout the United States, Brazil and India. While the majority of the Company&#8217;s operations and revenue are in North America, the Company has emerging businesses in Brazil and India.</p></div>
CY2017Q3 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:2.27%;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the period. On an ongoing basis, management evaluates these estimates, judgments and assumptions, including those related to revenue recognition, stock-based compensation, goodwill, long-lived assets, contingencies, and income taxes. The Company bases these estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenue and expenses that are not readily apparent from other sources.&#160;Actual results could differ from those estimates, and such differences could affect the results of operations reported in future periods.</p></div>
CY2017Q3 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentrations of Credit Risk</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:2.27%;">The Company had one client that accounted for 24% and 11% of net revenue for the three months ended September 30, 2017 and 2016. No other client accounted for 10% or more of net revenue for the three months ended September 30, 2017 and 2016.</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:2.27%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company had one client that accounted for 14% of net accounts receivable as of both September 30, 2017 and June 30, 2017. No other client accounted for 10% or more of net accounts receivable as of September 30, 2017 and&nbsp;&nbsp;June 30, 2017.</p></div>
CY2017Q3 qnst Number Of Other Customers Representing Greater Than Ten Percent Of Net Sales
NumberOfOtherCustomersRepresentingGreaterThanTenPercentOfNetSales
0
CY2016Q3 qnst Number Of Other Customers Representing Greater Than Ten Percent Of Net Sales
NumberOfOtherCustomersRepresentingGreaterThanTenPercentOfNetSales
0
CY2017Q3 qnst Number Of Other Customers Representing Greater Than Ten Percent Of Accounts Receivable
NumberOfOtherCustomersRepresentingGreaterThanTenPercentOfAccountsReceivable
0
CY2017 qnst Number Of Other Customers Representing Greater Than Ten Percent Of Accounts Receivable
NumberOfOtherCustomersRepresentingGreaterThanTenPercentOfAccountsReceivable
0
CY2017Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2777000
CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7138000
CY2017Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
166443000
CY2017Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
163473000
CY2017Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
166449000
CY2017Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
162344000
CY2017Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1100000
CY2016Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1900000
CY2017Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1175000
CY2017Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
863000
CY2017Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
762000
CY2017Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
170000
CY2017Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
0
CY2017Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
0
CY2017Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
800000
CY2016Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
900000
CY2017Q3 qnst Operating Lease Expiration Year End
OperatingLeaseExpirationYearEnd
2022
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
2838000
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1996000
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
681000
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
353000
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
311000
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
0
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
6179000
CY2017Q3 qnst Liabilities Related To Indemnification Agreement
LiabilitiesRelatedToIndemnificationAgreement
0
CY2017Q2 qnst Liabilities Related To Indemnification Agreement
LiabilitiesRelatedToIndemnificationAgreement
0
CY2017Q3 qnst Accrual For Indemnification Provisions
AccrualForIndemnificationProvisions
0
CY2017Q2 qnst Accrual For Indemnification Provisions
AccrualForIndemnificationProvisions
0
CY2017Q3 qnst Letters Of Credit For Fidelity Bonds
LettersOfCreditForFidelityBonds
400000
CY2017Q3 qnst Letters Of Credit For Operating Lease
LettersOfCreditForOperatingLease
500000
CY2017Q3 qnst Period Of Cancellation Of Letter Of Credit From Annual Expiration Date
PeriodOfCancellationOfLetterOfCreditFromAnnualExpirationDate
P30D
CY2016Q4 qnst Stock Repurchase Program Expiration Month And Year
StockRepurchaseProgramExpirationMonthAndYear
2017-11
CY2017Q3 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1

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0001564590-17-022159-index-headers.html Edgar Link pending
0001564590-17-022159-index.html Edgar Link pending
0001564590-17-022159.txt Edgar Link pending
0001564590-17-022159-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
qnst-10q_20170930.htm Edgar Link pending
qnst-20170930.xml Edgar Link completed
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qnst-20170930_cal.xml Edgar Link unprocessable
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