2017 Q4 Form 10-Q Financial Statement

#000138282117000014 Filed on November 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $95.80M $109.5M $81.06M
YoY Change 43.41% 35.05%
Cost Of Revenue $66.60M $70.17M $50.15M
YoY Change 46.37% 39.92%
Gross Profit $29.20M $39.31M $30.92M
YoY Change 37.09% 27.16%
Gross Profit Margin 30.48% 35.91% 38.14%
Selling, General & Admin $31.50M $17.58M $15.47M
YoY Change 22.09% 13.64%
% of Gross Profit 107.88% 44.73% 50.05%
Research & Development $11.48M $9.781M
YoY Change 17.4%
% of Gross Profit 29.21% 31.64%
Depreciation & Amortization $1.850M $1.665M $1.475M
YoY Change 5.11% 12.88% -52.27%
% of Gross Profit 6.34% 4.24% 4.77%
Operating Expenses $31.50M $29.07M $25.25M
YoY Change 17.98% 15.09%
Operating Profit -$2.300M $10.25M $5.663M
YoY Change -57.41% 80.95%
Interest Expense $500.0K $0.00
YoY Change
% of Operating Profit 0.0%
Other Income/Expense, Net $100.0K $311.0K $37.00K
YoY Change 740.54%
Pretax Income -$1.800M $10.60M
YoY Change -66.04%
Income Tax $12.70M
% Of Pretax Income
Net Earnings -$1.800M $10.56M $5.700M
YoY Change -66.04% 85.23%
Net Earnings / Revenue -1.88% 9.64% 7.03%
Basic Earnings Per Share -$0.50 $0.04
Diluted Earnings Per Share -$21.98K -$0.50 $0.03
COMMON SHARES
Basic Shares Outstanding 81.43M shares 58.87M shares 14.44M shares
Diluted Shares Outstanding 58.87M shares 17.86M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $208.3M $213.7M $76.80M
YoY Change 216.57% 178.26%
Cash & Equivalents $208.3M $212.4M $75.03M
Short-Term Investments $0.00 $1.300M $1.700M
Other Short-Term Assets $328.0K $5.623M $12.50M
YoY Change -96.26% -55.02%
Inventory $3.382M
Prepaid Expenses $8.613M $4.472M
Receivables $13.33M $13.34M $11.00M
Other Receivables $1.900M $800.0K $0.00
Total Short-Term Assets $240.2M $248.0M $100.3M
YoY Change 157.21% 147.21%
LONG-TERM ASSETS
Property, Plant & Equipment $22.32M $21.60M $8.400M
YoY Change 16.08% 157.14%
Goodwill $9.186M $9.186M
YoY Change 0.0%
Intangibles $3.294M $3.416M
YoY Change -12.9%
Long-Term Investments
YoY Change
Other Assets $6.951M $6.931M $7.200M
YoY Change -3.12% -3.74%
Total Long-Term Assets $41.75M $41.13M $28.70M
YoY Change 4.14% 43.32%
TOTAL ASSETS
Total Short-Term Assets $240.2M $248.0M $100.3M
Total Long-Term Assets $41.75M $41.13M $28.70M
Total Assets $282.0M $289.1M $129.0M
YoY Change 111.24% 124.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.901M $3.343M $3.300M
YoY Change -64.7% 1.3%
Accrued Expenses $26.61M $30.20M $22.00M
YoY Change 19.56% 37.28%
Deferred Revenue
YoY Change
Short-Term Debt $2.000M $700.0K $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $35.86M $45.21M $33.70M
YoY Change 8.85% 34.16%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $10.70M $10.40M $1.200M
YoY Change 20.22% 766.67%
Total Long-Term Liabilities $10.70M $10.40M $1.200M
YoY Change 20.22% 766.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.86M $45.21M $33.70M
Total Long-Term Liabilities $10.70M $10.40M $1.200M
Total Liabilities $46.53M $55.58M $34.90M
YoY Change 11.32% 59.25%
SHAREHOLDERS EQUITY
Retained Earnings -$129.0M -$127.2M
YoY Change -77.12%
Common Stock $81.00K $81.00K
YoY Change 440.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $235.4M $233.5M $94.00M
YoY Change
Total Liabilities & Shareholders Equity $282.0M $289.1M $129.0M
YoY Change 111.24% 124.1%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$1.800M $10.56M $5.700M
YoY Change -66.04% 85.23%
Depreciation, Depletion And Amortization $1.850M $1.665M $1.475M
YoY Change 5.11% 12.88% -52.27%
Cash From Operating Activities -$5.410M $10.92M $12.14M
YoY Change 91.17% -10.05% -203.58%
INVESTING ACTIVITIES
Capital Expenditures -$1.610M -$1.060M -$2.460M
YoY Change -80.95% -56.91% -40.44%
Acquisitions
YoY Change
Other Investing Activities $1.260M $240.0K $0.00
YoY Change
Cash From Investing Activities -$350.0K -$820.0K -$2.460M
YoY Change -95.86% -66.67% -40.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.110M 146.4M 610.0K
YoY Change -713.43% 23896.72% -60.65%
NET CHANGE
Cash From Operating Activities -5.410M 10.92M 12.14M
Cash From Investing Activities -350.0K -820.0K -2.460M
Cash From Financing Activities -4.110M 146.4M 610.0K
Net Change In Cash -9.870M 156.5M 10.29M
YoY Change -6.97% 1420.7% -171.96%
FREE CASH FLOW
Cash From Operating Activities -$5.410M $10.92M $12.14M
Capital Expenditures -$1.610M -$1.060M -$2.460M
Free Cash Flow -$3.800M $11.98M $14.60M
YoY Change -167.62% -17.95% -292.36%

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us-gaap Sales Revenue Net
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us-gaap Temporary Equity Accretion To Redemption Value
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us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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CY2016Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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CY2017Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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CY2016Q4 us-gaap Temporary Equity Liquidation Preference
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CY2016Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:125%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#231f20;font-weight:bold;">Use of Estimates</font><font style="font-family:Arial;font-size:10pt;color:#231f20;">&#8212;The preparation of the unaudited condensed consolidated interim financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and results of operations during the respective periods. Management&#8217;s more significant estimates include, but are not limited to, valuation of deferred income taxes, stock-based compensation, fair value of common stock and redeemable convertible preferred stock, capitalization of website development costs, recoverability of intangible assets with finite lives, and the fair value of reporting units for purposes of evaluating goodwill for impairment. Management bases its estimates on historical experience, and on various other market-specific relevant assumptions that management believes to be reasonable, under the circumstances. The amounts ultimately realized from the affected assets or ultimately recognized as liabilities will depend on, among other factors, general business conditions and could differ materially in the near term from the carrying amounts reflected in the consolidated financial statements.</font></div></div>

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