$QNST
QUINSTREET, INC

2021 Q1 Form 10-Q Financial Statement

#000156459021025447 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $153.1M $128.7M
YoY Change 18.96% 10.7%
Cost Of Revenue $132.7M $114.2M
YoY Change 16.2% 16.06%
Gross Profit $20.40M $14.50M
YoY Change 40.69% -18.99%
Gross Profit Margin 13.33% 11.27%
Selling, General & Admin $9.200M $7.200M
YoY Change 27.78% -54.72%
% of Gross Profit 45.1% 49.66%
Research & Development $4.900M $3.300M
YoY Change 48.48% 13.79%
% of Gross Profit 24.02% 22.76%
Depreciation & Amortization $3.870M $2.850M
YoY Change 35.79% 20.76%
% of Gross Profit 18.97% 19.66%
Operating Expenses $14.10M $10.50M
YoY Change 34.29% -44.15%
Operating Profit $6.300M $4.000M
YoY Change 57.5% -544.44%
Interest Expense -$300.0K -$100.0K
YoY Change 200.0%
% of Operating Profit -4.76% -2.5%
Other Income/Expense, Net $10.50M
YoY Change
Pretax Income $5.930M $14.40M
YoY Change -58.82% -1540.0%
Income Tax $900.0K $400.0K
% Of Pretax Income 15.18% 2.78%
Net Earnings $5.037M $13.92M
YoY Change -63.81% 1446.56%
Net Earnings / Revenue 3.29% 10.82%
Basic Earnings Per Share $0.09 $0.27
Diluted Earnings Per Share $0.09 $0.26
COMMON SHARES
Basic Shares Outstanding 53.43M 51.81M
Diluted Shares Outstanding 55.62M 53.44M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $103.2M $97.10M
YoY Change 6.28% 44.93%
Cash & Equivalents $103.2M $97.14M
Short-Term Investments
Other Short-Term Assets $8.500M $8.800M
YoY Change -3.41% 51.72%
Inventory
Prepaid Expenses
Receivables $82.30M $73.40M
Other Receivables $0.00 $0.00
Total Short-Term Assets $194.1M $179.3M
YoY Change 8.25% 27.8%
LONG-TERM ASSETS
Property, Plant & Equipment $6.810M $5.748M
YoY Change 18.48% 19.75%
Goodwill $118.2M $81.18M
YoY Change 45.62%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $49.80M $54.00M
YoY Change -7.78% -7.53%
Total Long-Term Assets $248.4M $181.2M
YoY Change 37.09% 14.68%
TOTAL ASSETS
Total Short-Term Assets $194.1M $179.3M
Total Long-Term Assets $248.4M $181.2M
Total Assets $442.5M $360.5M
YoY Change 22.75% 20.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $39.80M $40.10M
YoY Change -0.75% 13.92%
Accrued Expenses $62.00M $46.30M
YoY Change 33.91% 31.91%
Deferred Revenue $87.00K $100.0K
YoY Change -13.0% -88.21%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $111.7M $90.90M
YoY Change 22.88% 21.2%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $42.20M $20.40M
YoY Change 106.86% 126.67%
Total Long-Term Liabilities $42.20M $20.40M
YoY Change 106.86% 126.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $111.7M $90.90M
Total Long-Term Liabilities $42.20M $20.40M
Total Liabilities $153.9M $111.3M
YoY Change 38.27% 32.34%
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 $288.6M $249.2M
YoY Change
Total Liabilities & Shareholders Equity $442.5M $360.5M
YoY Change 22.75% 20.85%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $5.037M $13.92M
YoY Change -63.81% 1446.56%
Depreciation, Depletion And Amortization $3.870M $2.850M
YoY Change 35.79% 20.76%
Cash From Operating Activities $13.06M $15.16M
YoY Change -13.85% 135.04%
INVESTING ACTIVITIES
Capital Expenditures -$1.270M -$940.0K
YoY Change 35.11% -12.15%
Acquisitions
YoY Change
Other Investing Activities -$10.52M $9.100M
YoY Change -215.6% 22650.0%
Cash From Investing Activities -$11.78M $8.170M
YoY Change -244.19% -885.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -750.0K -2.390M
YoY Change -68.62% 177.91%
NET CHANGE
Cash From Operating Activities 13.06M 15.16M
Cash From Investing Activities -11.78M 8.170M
Cash From Financing Activities -750.0K -2.390M
Net Change In Cash 530.0K 20.94M
YoY Change -97.47% 360.22%
FREE CASH FLOW
Cash From Operating Activities $13.06M $15.16M
Capital Expenditures -$1.270M -$940.0K
Free Cash Flow $14.33M $16.10M
YoY Change -10.99% 114.1%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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OperatingLeaseLiabilityNoncurrent
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us-gaap Increase Decrease In Other Noncurrent Liabilities
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us-gaap Proceeds From Divestiture Of Businesses
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us-gaap Proceeds From Divestiture Of Businesses
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us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:12pt;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, credit losses of accounts receivable, 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. In addition, the Company may engage third-party valuation specialists to assist with the preparation of certain of its valuations. 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. Actual results could differ from those estimates, and such differences could affect the results of operations reported in future periods.</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:2.27%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In addition, the COVID-19 pandemic is a factor which may cause actual results to differ from estimates. COVID-19 is contributing to a general slowdown in the global economy and may affect the Company’s business, results of operations, financial condition, and future strategic plans. At this time, the extent to which the COVID-19 may impact the Company’s financial condition or results of operations is uncertain.</p>
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CY2020Q2 qnst Revenue Reserve
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CY2021Q1 qnst Financing Receivable Allowance For Credit Losses Ans Revenue Reserve
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CY2020Q2 qnst Financing Receivable Allowance For Credit Losses Ans Revenue Reserve
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us-gaap Concentration Risk Credit Risk
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<p style="text-align:justify;margin-top:12pt;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 26% and 25% of net revenue for the three and nine months ended March 31, 2021 and 22% and 19% of net revenue for the three and nine months ended March 31, 2020. That same client accounted for 16% and 17% of net accounts receivable as of March 31, 2021 and June 30, 2020. One additional client accounted for 11% of net accounts receivable as of March 31, 2021. No other clients accounted for 10% or more of net revenue for the three and nine months ended March 31, 2021 or 2020 or 10% or more of net accounts receivable as of March 31, 2021 or June 30, 2020.</p>
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us-gaap Earnings Per Share Diluted
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021Q1 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
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CY2021Q1 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
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CY2021Q1 qnst Fair Value Liabilities Level3 To Level1 Transfers Amount
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CY2020Q2 qnst Fair Value Liabilities Level3 To Level1 Transfers Amount
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CY2021Q1 qnst Fair Value Assets Level3 To Level1 Transfers Amount
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CY2020Q2 qnst Fair Value Assets Level3 To Level1 Transfers Amount
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CY2021Q1 us-gaap Operating Lease Cost
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CY2020Q1 us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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CY2021Q1 us-gaap Short Term Lease Cost
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CY2020Q1 us-gaap Variable Lease Cost
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us-gaap Variable Lease Cost
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us-gaap Variable Lease Cost
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us-gaap Operating Lease Payments
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CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2021Q1 us-gaap Operating Lease Liability
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CY2021Q1 us-gaap Operating Lease Liability
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CY2021Q1 qnst Liabilities Related To Indemnification Agreement
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CY2020Q2 qnst Liabilities Related To Indemnification Agreement
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CY2021Q1 qnst Accrual For Indemnification Provisions
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CY2020Q2 qnst Accrual For Indemnification Provisions
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CY2021Q1 qnst Letters Of Credit For Operating Lease
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qnst Period Of Cancellation Of Letter Of Credit From Annual Expiration Date
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us-gaap Number Of Reportable Segments
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CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2021Q1 us-gaap Property Plant And Equipment Net
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CY2020Q2 us-gaap Property Plant And Equipment Net
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CY2021Q1 us-gaap Finite Lived Intangible Assets Net
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62201000
CY2020Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
28174000

Files In Submission

Name View Source Status
0001564590-21-025447-index-headers.html Edgar Link pending
0001564590-21-025447-index.html Edgar Link pending
0001564590-21-025447.txt Edgar Link pending
0001564590-21-025447-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
qnst-10q_20210331.htm Edgar Link pending
qnst-10q_20210331_htm.xml Edgar Link completed
qnst-20210331.xsd Edgar Link pending
qnst-20210331_cal.xml Edgar Link unprocessable
qnst-20210331_def.xml Edgar Link unprocessable
qnst-20210331_lab.xml Edgar Link unprocessable
qnst-20210331_pre.xml Edgar Link unprocessable
qnst-ex311_8.htm Edgar Link pending
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