2022 Q3 Form 10-Q Financial Statement

#000162828022020356 Filed on August 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $496.0M $391.9M $385.7M
YoY Change 30.63% 10.89% 12.58%
Cost Of Revenue $403.1M $310.1M $296.5M
YoY Change 32.6% 8.05% 10.97%
Gross Profit $92.90M $81.80M $89.20M
YoY Change 22.72% 23.19% 18.3%
Gross Profit Margin 18.73% 20.87% 23.13%
Selling, General & Admin $60.80M $30.90M $28.60M
YoY Change 86.5% 6.55% 15.32%
% of Gross Profit 65.45% 37.78% 32.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $64.20M $24.70M $18.90M
YoY Change 201.41% 40.34% 5.59%
% of Gross Profit 69.11% 30.2% 21.19%
Operating Expenses $60.80M $30.90M $31.50M
YoY Change 80.95% 6.55% 14.96%
Operating Profit $2.000M -$38.00M $57.70M
YoY Change -95.25% -237.68% 20.21%
Interest Expense -$23.70M -$6.900M -$4.700M
YoY Change 264.62% 102.94% 20.51%
% of Operating Profit -1185.0% -8.15%
Other Income/Expense, Net
YoY Change
Pretax Income -$21.70M -$44.90M $38.50M
YoY Change -188.21% -285.54% 17.02%
Income Tax $7.800M -$24.50M $9.100M
% Of Pretax Income 23.64%
Net Earnings -$29.50M -$20.40M $29.40M
YoY Change -273.53% -210.87% 13.95%
Net Earnings / Revenue -5.95% -5.21% 7.62%
Basic Earnings Per Share -$0.07 -$0.07 $0.11
Diluted Earnings Per Share -$0.07 -$0.07 $91.58K
COMMON SHARES
Basic Shares Outstanding 416.1M shares 294.7M shares 278.7M shares
Diluted Shares Outstanding 417.7M shares 294.7M shares 321.0M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $131.1M $163.5M $123.9M
YoY Change -17.39% -0.85% 19.71%
Cash & Equivalents $131.1M $163.5M $123.9M
Short-Term Investments
Other Short-Term Assets $96.90M $86.00M $79.30M
YoY Change 54.05% 44.05% 20.7%
Inventory
Prepaid Expenses
Receivables $209.0M $224.3M $137.2M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $541.1M $570.7M $340.4M
YoY Change 48.41% 61.53% 14.0%
LONG-TERM ASSETS
Property, Plant & Equipment $261.9M $223.8M $144.8M
YoY Change 67.13% 52.97% -2.69%
Goodwill $2.549B $2.551B
YoY Change
Intangibles $1.568B $1.617B
YoY Change
Long-Term Investments
YoY Change
Other Assets $93.60M $69.80M $138.1M
YoY Change -32.08% -50.32% -4.69%
Total Long-Term Assets $4.540B $4.520B $1.096B
YoY Change 305.79% 448.15% 31.1%
TOTAL ASSETS
Total Short-Term Assets $541.1M $570.7M $340.4M
Total Long-Term Assets $4.540B $4.520B $1.096B
Total Assets $5.081B $5.090B $1.436B
YoY Change 242.53% 332.18% 26.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.00M $56.40M $21.00M
YoY Change 11.11% 168.57% -7.89%
Accrued Expenses $198.1M $218.9M $143.4M
YoY Change 25.3% 55.69% 10.65%
Deferred Revenue $26.50M $7.600M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $49.50M $41.50M $17.50M
YoY Change 182.86% 7.24% -50.7%
Total Short-Term Liabilities $346.0M $362.7M $221.5M
YoY Change 34.42% 52.52% 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $1.728B $1.749B $750.7M
YoY Change 121.81% 249.35% 47.14%
Other Long-Term Liabilities $22.40M $16.90M $97.60M
YoY Change -80.14% -85.58% -18.12%
Total Long-Term Liabilities $1.751B $1.766B $848.3M
YoY Change 96.27% 185.82% 34.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $346.0M $362.7M $221.5M
Total Long-Term Liabilities $1.751B $1.766B $848.3M
Total Liabilities $2.313B $2.340B $1.070B
YoY Change 101.28% 173.41% 25.73%
SHAREHOLDERS EQUITY
Retained Earnings -$84.80M -$55.30M
YoY Change
Common Stock $4.400M $4.400M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $237.7M
YoY Change
Treasury Stock Shares
Shareholders Equity $2.768B $2.751B $366.5M
YoY Change
Total Liabilities & Shareholders Equity $5.081B $5.090B $1.436B
YoY Change 242.53% 332.18% 26.6%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$29.50M -$20.40M $29.40M
YoY Change -273.53% -210.87% 13.95%
Depreciation, Depletion And Amortization $64.20M $24.70M $18.90M
YoY Change 201.41% 40.34% 5.59%
Cash From Operating Activities $26.00M -$96.40M $30.90M
YoY Change -71.21% -216.85% -32.83%
INVESTING ACTIVITIES
Capital Expenditures -$31.90M -$32.70M -$10.00M
YoY Change 112.67% 271.59% 4.17%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$847.3M $0.00
YoY Change -100.0% -32688.46%
Cash From Investing Activities -$31.90M -$880.0M -$10.00M
YoY Change -89.7% 14093.55% 4.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -26.00M 1.018B -26.20M
YoY Change -112.2% -7167.36% -75.54%
NET CHANGE
Cash From Operating Activities 26.00M -96.40M 30.90M
Cash From Investing Activities -31.90M -880.0M -10.00M
Cash From Financing Activities -26.00M 1.018B -26.20M
Net Change In Cash -31.90M 41.30M -5.300M
YoY Change 414.52% -33.28% -92.5%
FREE CASH FLOW
Cash From Operating Activities $26.00M -$96.40M $30.90M
Capital Expenditures -$31.90M -$32.70M -$10.00M
Free Cash Flow $57.90M -$63.70M $40.90M
YoY Change -45.01% -169.77% -26.44%

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CY2021Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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10800000 usd
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41100000 usd
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LesseeOperatingLeaseLiabilityPaymentsDue
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CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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30800000 usd
CY2022Q2 us-gaap Operating Lease Liability
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126000000.0 usd
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CY2022Q2 us-gaap Long Term Debt
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CY2021Q4 us-gaap Long Term Debt
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772400000 usd
CY2022Q2 us-gaap Long Term Debt Current
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41500000 usd
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17500000 usd
CY2022Q2 us-gaap Long Term Debt Noncurrent
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CY2021Q4 us-gaap Long Term Debt Noncurrent
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CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
16800000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
53900000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
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CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
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CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
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CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
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CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2022Q2 us-gaap Allocated Share Based Compensation Expense
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CY2022Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
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CY2022Q2 us-gaap Allocated Share Based Compensation Expense
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11600000 usd
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
23800000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
21700000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
36500000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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4386205 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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5.48
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6671 shares
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5.23
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
8.71
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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3.22
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.08
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4365759 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.33
CY2022Q2 us-gaap Severance Costs1
SeveranceCosts1
0 usd
CY2021Q2 us-gaap Severance Costs1
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300000 usd
us-gaap Severance Costs1
SeveranceCosts1
0 usd
us-gaap Severance Costs1
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1800000 usd
CY2022Q2 ah Acquisition Evaluation And Integration Costs
AcquisitionEvaluationAndIntegrationCosts
86400000 usd
CY2021Q2 ah Acquisition Evaluation And Integration Costs
AcquisitionEvaluationAndIntegrationCosts
1900000 usd
ah Acquisition Evaluation And Integration Costs
AcquisitionEvaluationAndIntegrationCosts
96500000 usd
ah Acquisition Evaluation And Integration Costs
AcquisitionEvaluationAndIntegrationCosts
8400000 usd
CY2022Q2 ah Severance Costs Transitioned Employees
SeveranceCostsTransitionedEmployees
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CY2021Q2 ah Severance Costs Transitioned Employees
SeveranceCostsTransitionedEmployees
0 usd
ah Severance Costs Transitioned Employees
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us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
ah Severance Costs Transitioned Employees
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CY2022Q2 us-gaap Business Exit Costs1
BusinessExitCosts1
1200000 usd
CY2021Q2 us-gaap Business Exit Costs1
BusinessExitCosts1
1400000 usd
us-gaap Business Exit Costs1
BusinessExitCosts1
6000000.0 usd
us-gaap Business Exit Costs1
BusinessExitCosts1
2900000 usd
CY2022Q2 us-gaap Other Restructuring Costs
OtherRestructuringCosts
1300000 usd
CY2021Q2 us-gaap Other Restructuring Costs
OtherRestructuringCosts
6200000 usd
us-gaap Other Restructuring Costs
OtherRestructuringCosts
3900000 usd
us-gaap Other Restructuring Costs
OtherRestructuringCosts
9700000 usd
CY2022Q2 us-gaap Other General Expense
OtherGeneralExpense
88900000 usd
CY2021Q2 us-gaap Other General Expense
OtherGeneralExpense
9800000 usd
us-gaap Other General Expense
OtherGeneralExpense
106000000.0 usd
us-gaap Other General Expense
OtherGeneralExpense
22800000 usd
CY2022Q2 ah Facility Costs Included In Acquisition Evaluation And Integration Costs
FacilityCostsIncludedInAcquisitionEvaluationAndIntegrationCosts
6900000 usd
ah Facility Costs Included In Acquisition Evaluation And Integration Costs
FacilityCostsIncludedInAcquisitionEvaluationAndIntegrationCosts
10000000 usd
ah Number Of Years Since New Country Entry
NumberOfYearsSinceNewCountryEntry
P15Y
CY2022Q2 ah Covid19 Pandemic Costs Included In Other Restructuring Costs
COVID19PandemicCostsIncludedInOtherRestructuringCosts
600000 usd
ah Covid19 Pandemic Costs Included In Other Restructuring Costs
COVID19PandemicCostsIncludedInOtherRestructuringCosts
1100000 usd
CY2021Q2 ah Covid19 Pandemic Costs Included In Other Restructuring Costs
COVID19PandemicCostsIncludedInOtherRestructuringCosts
2700000 usd
ah Covid19 Pandemic Costs Included In Other Restructuring Costs
COVID19PandemicCostsIncludedInOtherRestructuringCosts
4400000 usd
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
ah Statute Of Limitations Maximum
StatuteOfLimitationsMaximum
P6Y
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
123700000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
54700000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-20400000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
18400000 usd
us-gaap Net Income Loss
NetIncomeLoss
9000000.0 usd
us-gaap Net Income Loss
NetIncomeLoss
44200000 usd
CY2022Q2 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
0 usd
CY2021Q2 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
0 usd
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
0 usd
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
592300000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-20400000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
18400000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9000000.0 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-548100000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-20400000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
18400000 usd
us-gaap Net Income Loss
NetIncomeLoss
9000000.0 usd
us-gaap Net Income Loss
NetIncomeLoss
44200000 usd
CY2022Q2 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
0 usd
CY2021Q2 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
0 usd
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
0 usd
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
592300000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-20400000 usd
CY2022Q2 ah Depreciation Depletion And Amortization Excluding Intangible Assets
DepreciationDepletionAndAmortizationExcludingIntangibleAssets
13000000.0 usd
CY2021Q2 ah Depreciation Depletion And Amortization Excluding Intangible Assets
DepreciationDepletionAndAmortizationExcludingIntangibleAssets
13300000 usd
ah Depreciation Depletion And Amortization Excluding Intangible Assets
DepreciationDepletionAndAmortizationExcludingIntangibleAssets
24800000 usd
ah Depreciation Depletion And Amortization Excluding Intangible Assets
DepreciationDepletionAndAmortizationExcludingIntangibleAssets
26800000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
18400000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
9000000.0 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-548100000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
294658635 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
268251790 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
286746902 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
253850972 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
6551978 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
5838531 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
46029145 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
35583805 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
294658635 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
320832913 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
328169238 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
253850972 shares
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.16
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
22558278 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
90583 shares
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
386079 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14606241 shares

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