$QNST
QUINSTREET, INC

2019 Q1 Form 10-Q Financial Statement

#000156459019018580 Filed on May 10, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1 2017 Q4
Revenue $116.2M $117.9M $87.49M
YoY Change -1.42% 48.85% 33.35%
Cost Of Revenue $98.40M $100.0M $75.20M
YoY Change -1.6% 44.22% 21.97%
Gross Profit $17.90M $17.90M $12.26M
YoY Change 0.0% 81.41% 210.02%
Gross Profit Margin 15.4% 15.18% 14.01%
Selling, General & Admin $15.90M $7.700M $7.100M
YoY Change 106.49% 22.22% 18.33%
% of Gross Profit 88.83% 43.02% 57.94%
Research & Development $2.900M $3.700M $3.475M
YoY Change -21.62% 17.57% 5.3%
% of Gross Profit 16.2% 20.67% 28.36%
Depreciation & Amortization $2.360M $1.910M $1.810M
YoY Change 23.56% -28.2% -38.64%
% of Gross Profit 13.18% 10.67% 14.77%
Operating Expenses $18.80M $11.30M $3.475M
YoY Change 66.37% 259.07% -62.23%
Operating Profit -$900.0K $6.600M $8.780M
YoY Change -113.64% -1.79% -267.33%
Interest Expense $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
% of Operating Profit 0.0% 0.0%
Other Income/Expense, Net $0.00 $600.0K $200.0K
YoY Change -100.0% 322.54% -900.0%
Pretax Income -$1.000M $7.200M $2.000M
YoY Change -113.89% 1165.38% -125.48%
Income Tax -$1.900M $100.0K $0.00
% Of Pretax Income 1.39% 0.0%
Net Earnings $900.0K $7.100M $1.900M
YoY Change -87.32% 1083.33% -124.2%
Net Earnings / Revenue 0.77% 6.02% 2.17%
Basic Earnings Per Share $0.02
Diluted Earnings Per Share $0.02 $138.4K $38.31K
COMMON SHARES
Basic Shares Outstanding 49.91M
Diluted Shares Outstanding 52.93M

Balance Sheet

Concept 2019 Q1 2018 Q1 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $67.00M $47.10M $42.40M
YoY Change 42.25% 12.95% 13.07%
Cash & Equivalents $67.00M $47.09M $42.41M
Short-Term Investments
Other Short-Term Assets $5.800M $7.100M $6.800M
YoY Change -18.31% 0.0% 0.0%
Inventory
Prepaid Expenses
Receivables $67.50M $69.10M $48.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $140.3M $123.2M $97.90M
YoY Change 13.88% 33.94% 14.59%
LONG-TERM ASSETS
Property, Plant & Equipment $4.800M $4.300M $4.700M
YoY Change 11.63% -31.5% -32.18%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $58.40M $7.800M $8.100M
YoY Change 648.72% -25.53% -25.09%
Total Long-Term Assets $158.0M $83.80M $85.40M
YoY Change 88.54% 7.2% 6.04%
TOTAL ASSETS
Total Short-Term Assets $140.3M $123.2M $97.90M
Total Long-Term Assets $158.0M $83.80M $85.40M
Total Assets $298.3M $207.0M $183.3M
YoY Change 44.11% 21.66% 10.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $35.20M $30.30M $25.40M
YoY Change 16.17% 45.16% 24.38%
Accrued Expenses $35.10M $38.90M $29.80M
YoY Change -9.77% 48.56% 27.86%
Deferred Revenue $848.0K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $75.00M $69.80M $55.88M
YoY Change 7.45% 45.12% 24.24%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $9.000M $3.500M $2.486M
YoY Change 157.14% -6.24% -43.25%
Total Long-Term Liabilities $9.000M $3.500M $2.486M
YoY Change 157.14% -6.24% -43.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $75.00M $69.80M $55.88M
Total Long-Term Liabilities $9.000M $3.500M $2.486M
Total Liabilities $84.10M $73.30M $58.37M
YoY Change 14.73% 41.42% 18.25%
SHAREHOLDERS EQUITY
Retained Earnings -$141.6M
YoY Change -1.8%
Common Stock $267.0M
YoY Change 2.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $214.3M $133.7M $124.9M
YoY Change
Total Liabilities & Shareholders Equity $298.3M $207.0M $183.3M
YoY Change 44.11% 21.66% 10.42%

Cashflow Statement

Concept 2019 Q1 2018 Q1 2017 Q4
OPERATING ACTIVITIES
Net Income $900.0K $7.100M $1.900M
YoY Change -87.32% 1083.33% -124.2%
Depreciation, Depletion And Amortization $2.360M $1.910M $1.810M
YoY Change 23.56% -28.2% -38.64%
Cash From Operating Activities $6.450M $5.690M $7.300M
YoY Change 13.36% -8.08% 729.55%
INVESTING ACTIVITIES
Capital Expenditures -$1.070M -$670.0K -$590.0K
YoY Change 59.7% -27.17% -14.49%
Acquisitions
YoY Change
Other Investing Activities $40.00K $640.0K -$13.93M
YoY Change -93.75% -2233.33% 34725.0%
Cash From Investing Activities -$1.040M -$30.00K -$14.52M
YoY Change 3366.67% -96.84% 1889.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -860.0K -1.020M -730.0K
YoY Change -15.69% 7.37% -95.5%
NET CHANGE
Cash From Operating Activities 6.450M 5.690M 7.300M
Cash From Investing Activities -1.040M -30.00K -14.52M
Cash From Financing Activities -860.0K -1.020M -730.0K
Net Change In Cash 4.550M 4.640M -7.950M
YoY Change -1.94% 8.16% -50.56%
FREE CASH FLOW
Cash From Operating Activities $6.450M $5.690M $7.300M
Capital Expenditures -$1.070M -$670.0K -$590.0K
Free Cash Flow $7.520M $6.360M $7.890M
YoY Change 18.24% -10.55% 402.55%

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qnst Accrued Post Closing Payments Related To Acquisition
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us-gaap Nature Of Operations
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<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;text-indent:2.27%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">QuinStreet, Inc. (the &#8220;Company&#8221;) is a leader in performance marketplace 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>
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<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;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 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>
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us-gaap Concentration Risk Credit Risk
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<p style="margin-top:18pt;margin-bottom:0pt;text-indent:2.27%;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;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 23% of net revenue for both the three and nine months ended March 31, 2019&#160;and 22% and 23% of net revenue for the three and nine months ended March 31, 2018. That same client accounted for 16% and 13% of net accounts receivable as of March 31, 2019 and June 30, 2018. One additional client accounted for &#160;13% of net accounts receivable as of &#160;June 30, 2018. No other clients accounted for 10% or more of net revenue for the three and nine months ended March 31, 2019 or 2018 or 10% or more of net accounts receivable as of March 31, 2019 or June 30, 2018.</p>
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Files In Submission

Name View Source Status
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0001564590-19-018580-index.html Edgar Link pending
0001564590-19-018580.txt Edgar Link pending
0001564590-19-018580-xbrl.zip Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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