2018 Q2 Form 10-Q Financial Statement

#000138282118000102 Filed on August 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $142.6M $104.9M
YoY Change 35.93% 35.03%
Cost Of Revenue $97.43M $67.98M
YoY Change 43.33% 35.13%
Gross Profit $45.21M $36.96M
YoY Change 22.33% 34.84%
Gross Profit Margin 31.7% 35.22%
Selling, General & Admin $29.72M $22.60M
YoY Change 31.53% 25.46%
% of Gross Profit 65.74% 61.14%
Research & Development $13.03M $10.09M
YoY Change 29.17% 25.19%
% of Gross Profit 28.83% 27.3%
Depreciation & Amortization $1.777M $1.512M
YoY Change 17.53% 9.41%
% of Gross Profit 3.93% 4.09%
Operating Expenses $42.76M $32.69M
YoY Change 30.8% 25.38%
Operating Profit $2.457M $4.272M
YoY Change -42.49% 219.04%
Interest Expense $0.00 $0.00
YoY Change
% of Operating Profit 0.0% 0.0%
Other Income/Expense, Net $750.0K $32.00K
YoY Change 2243.75% -34.69%
Pretax Income $3.200M $4.300M
YoY Change -25.58%
Income Tax
% Of Pretax Income
Net Earnings $3.207M $4.304M
YoY Change -25.49% 210.09%
Net Earnings / Revenue 2.25% 4.1%
Basic Earnings Per Share $0.04 -$7.15
Diluted Earnings Per Share $0.04 -$7.15
COMMON SHARES
Basic Shares Outstanding 83.16M shares 14.91M shares
Diluted Shares Outstanding 90.74M shares 14.91M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $194.2M $55.70M
YoY Change 248.65%
Cash & Equivalents $194.2M $54.21M
Short-Term Investments $1.500M
Other Short-Term Assets $1.828M $2.298M
YoY Change -20.45%
Inventory $14.52M
Prepaid Expenses $3.337M $2.546M
Receivables $18.90M $14.51M
Other Receivables $3.600M $600.0K
Total Short-Term Assets $253.8M $87.46M
YoY Change 190.21%
LONG-TERM ASSETS
Property, Plant & Equipment $23.86M $22.14M
YoY Change 7.76%
Goodwill $9.186M $9.186M
YoY Change 0.0%
Intangibles $3.050M $3.538M
YoY Change -13.79%
Long-Term Investments
YoY Change
Other Assets $7.077M $6.798M
YoY Change 4.1%
Total Long-Term Assets $43.17M $43.96M
YoY Change -1.8%
TOTAL ASSETS
Total Short-Term Assets $253.8M $87.46M
Total Long-Term Assets $43.17M $43.96M
Total Assets $297.0M $131.4M
YoY Change 125.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.855M $3.081M
YoY Change 25.12%
Accrued Expenses $34.05M $30.25M
YoY Change 12.55%
Deferred Revenue
YoY Change
Short-Term Debt $3.500M $500.0K
YoY Change 600.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $60.56M $46.56M
YoY Change 30.07%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $10.80M $10.50M
YoY Change 2.86%
Total Long-Term Liabilities $10.80M $10.50M
YoY Change 2.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $60.56M $46.56M
Total Long-Term Liabilities $10.80M $10.50M
Total Liabilities $71.37M $57.03M
YoY Change 25.14%
SHAREHOLDERS EQUITY
Retained Earnings -$162.2M -$716.7M
YoY Change -77.36%
Common Stock $84.00K $15.00K
YoY Change 460.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $225.6M -$716.7M
YoY Change
Total Liabilities & Shareholders Equity $297.0M $131.4M
YoY Change 125.98%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $3.207M $4.304M
YoY Change -25.49% 210.09%
Depreciation, Depletion And Amortization $1.777M $1.512M
YoY Change 17.53% 9.41%
Cash From Operating Activities -$5.750M $21.66M
YoY Change -126.55% 3284.37%
INVESTING ACTIVITIES
Capital Expenditures -$1.740M -$4.660M
YoY Change -62.66% 170.93%
Acquisitions
YoY Change
Other Investing Activities $0.00 $250.0K
YoY Change -100.0%
Cash From Investing Activities -$1.740M -$4.410M
YoY Change -60.54% 156.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 17.23M 3.930M
YoY Change 338.42% 3175.0%
NET CHANGE
Cash From Operating Activities -5.750M 21.66M
Cash From Investing Activities -1.740M -4.410M
Cash From Financing Activities 17.23M 3.930M
Net Change In Cash 9.740M 21.18M
YoY Change -54.01% -2306.25%
FREE CASH FLOW
Cash From Operating Activities -$5.750M $21.66M
Capital Expenditures -$1.740M -$4.660M
Free Cash Flow -$4.010M $26.32M
YoY Change -115.24% 1015.25%

Facts In Submission

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CY2018Q2 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:120%;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;</font><font style="font-family:Arial;font-size:10pt;">The preparation of consolidated 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. The Company&#8217;s more significant estimates include, but are not limited to, valuation of deferred income taxes, stock-based compensation, prior to its conversion on August 2, 2017 the 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. 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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