2023 Q3 Form 10-Q Financial Statement

#000073326923000032 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $159.9M $154.1M
YoY Change 8.68% 8.31%
Cost Of Revenue $41.21M $45.62M
YoY Change -2.58% 11.21%
Gross Profit $118.7M $108.4M
YoY Change 13.23% 7.14%
Gross Profit Margin 74.22% 70.39%
Selling, General & Admin $70.14M $71.54M
YoY Change -6.06% -8.77%
% of Gross Profit 59.11% 65.97%
Research & Development $33.73M $34.52M
YoY Change -26.89% -27.57%
% of Gross Profit 28.43% 31.83%
Depreciation & Amortization $1.900M $4.039M
YoY Change -66.6% -29.65%
% of Gross Profit 1.6% 3.72%
Operating Expenses $110.5M $106.2M
YoY Change -17.52% -16.28%
Operating Profit $8.208M $2.270M
YoY Change -128.18% -108.87%
Interest Expense -$400.0K -$28.00K
YoY Change
% of Operating Profit -4.87% -1.23%
Other Income/Expense, Net $6.431M $4.849M
YoY Change 186.08% 593.71%
Pretax Income $14.64M $7.119M
YoY Change -154.47% -128.59%
Income Tax $10.16M $8.705M
% Of Pretax Income 69.42% 122.28%
Net Earnings $4.863M -$1.586M
YoY Change -115.98% -94.17%
Net Earnings / Revenue 3.04% -1.03%
Basic Earnings Per Share $0.07 -$0.02
Diluted Earnings Per Share $0.07 -$0.02
COMMON SHARES
Basic Shares Outstanding 66.19M shares 66.40M shares
Diluted Shares Outstanding 67.87M shares 66.50M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $524.1M $503.9M
YoY Change 7.93% -0.86%
Cash & Equivalents $492.2M $470.8M
Short-Term Investments $31.90M $33.10M
Other Short-Term Assets $29.05M $29.09M
YoY Change -7.8% -11.99%
Inventory
Prepaid Expenses $16.65M $16.28M
Receivables $174.7M $173.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $727.8M $706.0M
YoY Change 3.27% -2.59%
LONG-TERM ASSETS
Property, Plant & Equipment $5.574M $6.055M
YoY Change -49.52% -53.58%
Goodwill $360.0M $363.2M
YoY Change -0.69% 0.05%
Intangibles $5.361M $6.578M
YoY Change -69.18% -70.17%
Long-Term Investments $2.600M $2.100M
YoY Change
Other Assets $41.79M $45.13M
YoY Change -31.77% -43.82%
Total Long-Term Assets $452.7M $457.9M
YoY Change -6.42% -10.11%
TOTAL ASSETS
Total Short-Term Assets $727.8M $706.0M
Total Long-Term Assets $452.7M $457.9M
Total Assets $1.181B $1.164B
YoY Change -0.67% -5.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $79.30M $74.08M
YoY Change 12.78% 10.88%
Accrued Expenses $72.50M $63.25M
YoY Change 14.19% 2.89%
Deferred Revenue $20.98M $27.27M
YoY Change 27.94% 84.71%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $186.7M $172.4M
YoY Change 24.3% 20.51%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $71.96M $73.02M
YoY Change -8.01% -14.56%
Total Long-Term Liabilities $71.96M $73.02M
YoY Change -8.01% -14.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $186.7M $172.4M
Total Long-Term Liabilities $71.96M $73.02M
Total Liabilities $258.7M $245.4M
YoY Change 13.23% 7.39%
SHAREHOLDERS EQUITY
Retained Earnings $1.306B $1.301B
YoY Change -4.24% -6.68%
Common Stock $1.905B $1.889B
YoY Change 6.05% 6.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $921.9M $918.5M
YoY Change
Total Liabilities & Shareholders Equity $1.181B $1.164B
YoY Change -0.67% -5.7%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $4.863M -$1.586M
YoY Change -115.98% -94.17%
Depreciation, Depletion And Amortization $1.900M $4.039M
YoY Change -66.6% -29.65%
Cash From Operating Activities $36.10M $25.69M
YoY Change 68.89% -177.0%
INVESTING ACTIVITIES
Capital Expenditures $200.0K $53.00K
YoY Change -107.48% -96.96%
Acquisitions
YoY Change
Other Investing Activities $900.0K -$500.0K
YoY Change 125.0%
Cash From Investing Activities $700.0K -$553.0K
YoY Change -130.8% -68.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.80M -$18.52M
YoY Change -61.22% -66.95%
NET CHANGE
Cash From Operating Activities 36.10M $25.69M
Cash From Investing Activities 700.0K -$553.0K
Cash From Financing Activities -15.80M -$18.52M
Net Change In Cash 21.00M $6.325M
YoY Change -197.03% -106.88%
FREE CASH FLOW
Cash From Operating Activities $36.10M $25.69M
Capital Expenditures $200.0K $53.00K
Free Cash Flow $35.90M $25.64M
YoY Change 49.28% -173.03%

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SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
17.50
CY2023Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
376904 shares
CY2023Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
376904 shares
CY2023Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
17.80
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
0.50
CY2023 ramp Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Rights Percentage Year One
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRightsPercentageYearOne
0.50
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P1Y
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
16283000 usd
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
18918000 usd
CY2023Q2 ramp Non Qualified Retirement Plan Assets For Plan Benefits Current
NonQualifiedRetirementPlanAssetsForPlanBenefitsCurrent
12808000 usd
CY2023Q1 ramp Non Qualified Retirement Plan Assets For Plan Benefits Current
NonQualifiedRetirementPlanAssetsForPlanBenefitsCurrent
12110000 usd
CY2023Q2 us-gaap Other Assets Current
OtherAssetsCurrent
29091000 usd
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
31028000 usd
CY2023Q2 ramp Prepaid Revenue Share Noncurrent
PrepaidRevenueShareNoncurrent
8859000 usd
CY2023Q1 ramp Prepaid Revenue Share Noncurrent
PrepaidRevenueShareNoncurrent
9659000 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
29155000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
24604000 usd
CY2023Q2 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
1247000 usd
CY2023Q1 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
1253000 usd
CY2023Q2 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
3403000 usd
CY2023Q1 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
3452000 usd
CY2023Q2 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
2100000 usd
CY2023Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
1600000 usd
CY2023Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
366000 usd
CY2023Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
477000 usd
CY2023Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
45130000 usd
CY2023Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
41045000 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
37927000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
39393000 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
31872000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
32308000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6055000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7085000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
800000 usd
CY2022Q2 us-gaap Depreciation
Depreciation
1100000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
363116000 usd
CY2023Q2 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
62000 usd
CY2023Q2 us-gaap Goodwill
Goodwill
363178000 usd
CY2023Q2 us-gaap Goodwill
Goodwill
363178000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
122479000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
122479000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
115901000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
112611000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6578000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
9868000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3300000 usd
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4600000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3557000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3021000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6578000 usd
CY2023Q2 ramp Liability Non Qualified Retirement Plan
LiabilityNonQualifiedRetirementPlan
12808000 usd
CY2023Q1 ramp Liability Non Qualified Retirement Plan
LiabilityNonQualifiedRetirementPlan
12110000 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
9356000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
9929000 usd
CY2023Q2 ramp Other Accrued Expenses Current
OtherAccruedExpensesCurrent
14510000 usd
CY2023Q1 ramp Other Accrued Expenses Current
OtherAccruedExpensesCurrent
11615000 usd
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
39322000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
35736000 usd
CY2023Q2 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
24046000 usd
CY2023Q1 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
23427000 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
37712000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
37243000 usd
CY2023Q2 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
4548000 usd
CY2023Q1 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
5713000 usd
CY2023Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
339000 usd
CY2023Q1 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
298000 usd
CY2023Q2 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
6378000 usd
CY2023Q1 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
5117000 usd
CY2023Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
73023000 usd
CY2023Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
71798000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
9344000 usd
CY2023Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-219000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
53000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
770000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
8408000 usd
CY2023Q2 ramp Number Of Leased Office Space Exited
NumberOfLeasedOfficeSpaceExited
8 leasedofficespace
CY2022Q3 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
24600000 usd
CY2023Q1 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
24600000 usd
CY2022Q4 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
24600000 usd
CY2023Q2 ramp Operating Lease Right Of Use Asset Impairment Loss
OperatingLeaseRightOfUseAssetImpairmentLoss
20500000 usd
CY2023Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
4100000 usd
CY2023Q2 ramp Restructuring Reserve Charges And Adjustments
RestructuringReserveChargesAndAdjustments
88000 usd
CY2022Q2 ramp Restructuring Reserve Charges And Adjustments
RestructuringReserveChargesAndAdjustments
739000 usd
CY2023Q2 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
-28000 usd
CY2022Q2 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
0 usd
CY2023Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-116000 usd
CY2022Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-739000 usd
CY2023Q2 us-gaap Deferred Tax Liability Not Recognized Amount Of Unrecognized Deferred Tax Liability Bad Debt Reserve For Tax Purposes Of Qualified Lender
DeferredTaxLiabilityNotRecognizedAmountOfUnrecognizedDeferredTaxLiabilityBadDebtReserveForTaxPurposesOfQualifiedLender
24000000 usd
CY2023Q2 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
72606000 usd
CY2023Q2 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
79025000 usd
CY2023Q2 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
10754000 usd
CY2023Q2 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
4081000 usd
CY2023Q2 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
3375000 usd
CY2023Q2 us-gaap Purchase Obligation
PurchaseObligation
169841000 usd
CY2023Q2 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
2100000 usd
CY2023Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
1600000 usd
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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