$QNST
QUINSTREET, INC

2021 Q4 Form 10-Q Financial Statement

#000156459022004359 Filed on February 09, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2020 Q4
Revenue $125.3M $135.0M
YoY Change -7.14% 14.28%
Cost Of Revenue $115.6M $120.4M
YoY Change -4.02% 14.32%
Gross Profit $9.777M $14.50M
YoY Change -32.57% 13.43%
Gross Profit Margin 7.8% 10.74%
Selling, General & Admin $12.47M $9.800M
YoY Change 27.23% 20.99%
% of Gross Profit 127.53% 67.59%
Research & Development $4.861M $5.000M
YoY Change -2.78% 47.1%
% of Gross Profit 49.72% 34.48%
Depreciation & Amortization $4.213M $4.010M
YoY Change 5.06% 40.21%
% of Gross Profit 43.09% 27.66%
Operating Expenses $17.33M $14.80M
YoY Change 17.09% 335.42%
Operating Profit -$7.553M -$300.0K
YoY Change 2417.67% -103.2%
Interest Expense -$267.0K -$300.0K
YoY Change -11.0% 200.0%
% of Operating Profit
Other Income/Expense, Net $2.000K
YoY Change
Pretax Income -$7.818M -$500.0K
YoY Change 1463.6% -141.67%
Income Tax -$2.200M -$1.000M
% Of Pretax Income
Net Earnings -$5.628M $466.0K
YoY Change -1307.73% -69.92%
Net Earnings / Revenue -4.49% 0.35%
Basic Earnings Per Share -$0.10 $0.01
Diluted Earnings Per Share -$0.10 $0.01
COMMON SHARES
Basic Shares Outstanding 54.38M 53.06M
Diluted Shares Outstanding 54.38M 55.16M

Balance Sheet

Concept 2021 Q4 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $115.0M $102.6M
YoY Change 12.12% 34.82%
Cash & Equivalents $115.0M $102.6M
Short-Term Investments
Other Short-Term Assets $5.800M $7.500M
YoY Change -22.67% 44.23%
Inventory
Prepaid Expenses
Receivables $64.18M $71.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $185.0M $181.4M
YoY Change 1.99% 20.13%
LONG-TERM ASSETS
Property, Plant & Equipment $8.469M $19.30M
YoY Change -56.12% 239.67%
Goodwill $119.6M $110.1M
YoY Change 8.61% 33.47%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $51.13M $48.60M
YoY Change 5.2% -15.92%
Total Long-Term Assets $242.6M $233.7M
YoY Change 3.8% 24.04%
TOTAL ASSETS
Total Short-Term Assets $185.0M $181.4M
Total Long-Term Assets $242.6M $233.7M
Total Assets $427.6M $415.1M
YoY Change 3.01% 22.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $39.14M $37.70M
YoY Change 3.82% 9.91%
Accrued Expenses $42.17M $52.70M
YoY Change -19.97% 24.29%
Deferred Revenue $36.00K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $96.66M $97.80M
YoY Change -1.17% 18.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $32.29M $37.90M
YoY Change -14.8% 66.23%
Total Long-Term Liabilities $32.29M $37.90M
YoY Change -14.8% 66.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $96.66M $97.80M
Total Long-Term Liabilities $32.29M $37.90M
Total Liabilities $128.9M $135.7M
YoY Change -4.98% 28.63%
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 $298.6M $279.4M
YoY Change
Total Liabilities & Shareholders Equity $427.6M $415.1M
YoY Change 3.01% 22.3%

Cashflow Statement

Concept 2021 Q4 2020 Q4
OPERATING ACTIVITIES
Net Income -$5.628M $466.0K
YoY Change -1307.73% -69.92%
Depreciation, Depletion And Amortization $4.213M $4.010M
YoY Change 5.06% 40.21%
Cash From Operating Activities $13.93M $5.580M
YoY Change 149.71% -43.86%
INVESTING ACTIVITIES
Capital Expenditures -$1.605M -$1.310M
YoY Change 22.52% 29.7%
Acquisitions
YoY Change
Other Investing Activities -$1.000M -$1.270M
YoY Change -21.26% -4333.33%
Cash From Investing Activities -$2.605M -$2.570M
YoY Change 1.36% 159.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.213M -2.580M
YoY Change -14.22% -23.44%
NET CHANGE
Cash From Operating Activities 13.93M 5.580M
Cash From Investing Activities -2.605M -2.570M
Cash From Financing Activities -2.213M -2.580M
Net Change In Cash 9.116M 430.0K
YoY Change 2020.0% -92.29%
FREE CASH FLOW
Cash From Operating Activities $13.93M $5.580M
Capital Expenditures -$1.605M -$1.310M
Free Cash Flow $15.54M $6.890M
YoY Change 125.53% -37.08%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<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-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In addition</span><span style="color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, 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.</span></p>
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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 13% and 14% of net revenue for the three and six months ended December 31, 2021, and 24% and 25% of net revenue for the three and six months ended December 31, 2020. That same client accounted for 10% of net accounts receivable as of June 30, 2021. One additional client accounted for 15% of net accounts receivable as of June 30, 2021. No other clients accounted for 10% or more of net revenue for the three and six months ended December 31, 2021 or 2020 or 10% or more of net accounts receivable as of December 31, 2021 or June 30, 2021.</p>
qnst Accounting Standards Update Description
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Files In Submission

Name View Source Status
0001564590-22-004359-index-headers.html Edgar Link pending
0001564590-22-004359-index.html Edgar Link pending
0001564590-22-004359.txt Edgar Link pending
0001564590-22-004359-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
qnst-10q_20211231.htm Edgar Link pending
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qnst-20211231.xsd Edgar Link pending
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