2020 Q2 Form 10-Q Financial Statement

#000091727320000024 Filed on August 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $61.72M $58.30M $48.38M
YoY Change 5.87% 3.26% 4.22%
Cost Of Revenue $16.15M $13.03M $11.20M
YoY Change 23.96% 17.48% -7.62%
Gross Profit $45.57M $45.27M $37.19M
YoY Change 0.66% -0.22% 8.4%
Gross Profit Margin 73.84% 77.65% 76.86%
Selling, General & Admin $21.72M $23.79M $26.52M
YoY Change -8.71% -2.81% -12.18%
% of Gross Profit 47.67% 52.56% 71.32%
Research & Development $34.69M $37.89M $40.62M
YoY Change -8.45% 0.51% 1.25%
% of Gross Profit 76.12% 83.7% 109.23%
Depreciation & Amortization $11.90M $10.00M $4.809M
YoY Change 19.0% -12.28% 63.46%
% of Gross Profit 26.11% 22.09% 12.93%
Operating Expenses $56.66M $82.32M $68.60M
YoY Change -31.17% 32.39% -2.45%
Operating Profit -$11.09M -$37.05M -$31.41M
YoY Change -70.07% 85.35% -27.98%
Interest Expense $2.580M $2.534M $2.271M
YoY Change 1.82% -45.32% -48.63%
% of Operating Profit
Other Income/Expense, Net $2.108M $4.438M $5.142M
YoY Change -52.5% 22.77% 9.52%
Pretax Income -$8.980M -$32.61M -$26.27M
YoY Change -72.46% 99.17% -32.51%
Income Tax $200.0K $4.400M $300.0K
% Of Pretax Income
Net Earnings -$9.140M -$36.98M -$26.58M
YoY Change -75.28% 140.8% -25.53%
Net Earnings / Revenue -14.81% -63.43% -54.93%
Basic Earnings Per Share -$0.08 -$0.33 -$0.24
Diluted Earnings Per Share -$0.08 -$0.33 -$0.24
COMMON SHARES
Basic Shares Outstanding 113.6M shares 110.9M shares 109.7M shares
Diluted Shares Outstanding 113.6M shares 110.9M shares 109.7M shares

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $486.1M $337.7M $305.9M
YoY Change 43.94% 13.21% 5.05%
Cash & Equivalents $103.3M $114.2M $143.0M
Short-Term Investments $382.8M $223.5M $162.9M
Other Short-Term Assets $18.00M $87.80M $16.90M
YoY Change -79.5% 505.52% 0.6%
Inventory $11.55M $9.326M $8.192M
Prepaid Expenses
Receivables $35.20M $28.23M $43.81M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $706.2M $640.9M $545.0M
YoY Change 10.2% 19.19% 8.62%
LONG-TERM ASSETS
Property, Plant & Equipment $50.86M $41.59M $22.64M
YoY Change 22.28% -17.21% -53.22%
Goodwill $183.2M $153.1M $207.8M
YoY Change 19.64% -26.61% -1.67%
Intangibles $45.62M $29.75M $55.51M
YoY Change 53.37% -58.07% -32.38%
Long-Term Investments $3.300M $4.100M $3.200M
YoY Change -19.51%
Other Assets $4.895M $6.763M $7.419M
YoY Change -27.62% 39.96% 64.61%
Total Long-Term Assets $610.4M $671.3M $776.4M
YoY Change -9.07% -32.06% -25.19%
TOTAL ASSETS
Total Short-Term Assets $706.2M $640.9M $545.0M
Total Long-Term Assets $610.4M $671.3M $776.4M
Total Assets $1.317B $1.312B $1.321B
YoY Change 0.34% -14.0% -14.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.02M $7.794M $8.274M
YoY Change 79.83% -7.06% 16.86%
Accrued Expenses $20.60M $22.30M $23.00M
YoY Change -7.62% 28.16% 53.33%
Deferred Revenue $10.84M $6.448M $15.77M
YoY Change 68.13% -52.53% 688.7%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $83.46M $84.42M $69.28M
YoY Change -1.14% -44.53% -52.5%
LONG-TERM LIABILITIES
Long-Term Debt $152.4M $145.3M $143.6M
YoY Change 4.89% -17.21% -17.52%
Other Long-Term Liabilities $12.82M $30.29M $22.97M
YoY Change -57.68% 287.19% 164.81%
Total Long-Term Liabilities $12.82M $30.29M $22.97M
YoY Change -57.68% 287.19% 164.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $83.46M $84.42M $69.28M
Total Long-Term Liabilities $12.82M $30.29M $22.97M
Total Liabilities $351.5M $338.9M $321.5M
YoY Change 3.69% -19.36% -23.56%
SHAREHOLDERS EQUITY
Retained Earnings -$309.0M -$263.4M $4.500M
YoY Change 17.32% 170.46% -99.28%
Common Stock $1.274B $1.247B $1.235B
YoY Change 2.19% 3.02% 3.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $972.7M $973.2M $999.9M
YoY Change
Total Liabilities & Shareholders Equity $1.317B $1.312B $1.321B
YoY Change 0.34% -14.0% -14.17%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income -$9.140M -$36.98M -$26.58M
YoY Change -75.28% 140.8% -25.53%
Depreciation, Depletion And Amortization $11.90M $10.00M $4.809M
YoY Change 19.0% -12.28% 63.46%
Cash From Operating Activities $62.00M $31.10M $28.76M
YoY Change 99.36% 763.89% 71.2%
INVESTING ACTIVITIES
Capital Expenditures -$10.80M -$2.100M $664.0K
YoY Change 414.29% -41.67% -60.66%
Acquisitions
YoY Change
Other Investing Activities -$122.8M -$61.50M -$800.0K
YoY Change 99.67% -150.12% -98.77%
Cash From Investing Activities -$133.6M -$63.60M -$1.493M
YoY Change 110.06% -153.4% -97.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -600.0K 3.700M -$170.0K
YoY Change -116.22% -11.9% -99.69%
NET CHANGE
Cash From Operating Activities 62.00M 31.10M $28.76M
Cash From Investing Activities -133.6M -63.60M -$1.493M
Cash From Financing Activities -600.0K 3.700M -$170.0K
Net Change In Cash -72.20M -28.80M $27.10M
YoY Change 150.69% -122.7% -126.06%
FREE CASH FLOW
Cash From Operating Activities $62.00M $31.10M $28.76M
Capital Expenditures -$10.80M -$2.100M $664.0K
Free Cash Flow $72.80M $33.20M $28.10M
YoY Change 119.28% 361.11% 85.93%

Facts In Submission

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us-gaap Marketable Securities Unrealized Gain Loss
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us-gaap Marketable Securities Unrealized Gain Loss
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Amortization Of Intangible Assets
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19000 USD
CY2019Q4 rmbs Cash Cash Equivalents And Short Term Investments Unrealized Losses
CashCashEquivalentsAndShortTermInvestmentsUnrealizedLosses
64000 USD
CY2019Q4 rmbs Cash Fair Value Disclosure
CashFairValueDisclosure
44122000 USD
CY2019Q4 us-gaap Cash
Cash
44122000 USD
CY2019Q4 rmbs Cash Cash Equivalents And Short Term Investments Fair Value Disclosure
CashCashEquivalentsAndShortTermInvestmentsFairValueDisclosure
407664000 USD
CY2019Q4 rmbs Cash Cash Equivalents And Short Term Investments Amortized Cost Disclosure
CashCashEquivalentsAndShortTermInvestmentsAmortizedCostDisclosure
407709000 USD
CY2019Q4 rmbs Gross Unrealized Gain On Securities And Cash
GrossUnrealizedGainOnSecuritiesAndCash
19000 USD
CY2019Q4 rmbs Gross Unrealized Loss On Securities And Cash
GrossUnrealizedLossOnSecuritiesAndCash
64000 USD
CY2020Q2 us-gaap Available For Sale Securities
AvailableForSaleSecurities
441422000 USD
CY2019Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
363542000 USD
CY2020Q2 rmbs Cash Fair Value Disclosure
CashFairValueDisclosure
44655000 USD
CY2019Q4 rmbs Cash Fair Value Disclosure
CashFairValueDisclosure
44122000 USD
CY2020Q2 rmbs Cash Cash Equivalents And Short Term Investments Fair Value Disclosure
CashCashEquivalentsAndShortTermInvestmentsFairValueDisclosure
486077000 USD
CY2019Q4 rmbs Cash Cash Equivalents And Short Term Investments Fair Value Disclosure
CashCashEquivalentsAndShortTermInvestmentsFairValueDisclosure
407664000 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
238879000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
264934000 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
102000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
64000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
378807000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
12201000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
391008000 USD
CY2020Q2 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.250
CY2020Q2 us-gaap Equity Method Investments
EquityMethodInvestments
3300000 USD
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y4M24D
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2719000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
8446000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
7295000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4564000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
3925000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
25368000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
52317000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
10228000 USD
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
42089000 USD
CY2020Q2 us-gaap Contractual Obligation
ContractualObligation
214852000 USD
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.042
CY2020Q2 us-gaap Lease Cost
LeaseCost
2900000 USD
CY2019Q2 us-gaap Lease Cost
LeaseCost
2200000 USD
us-gaap Lease Cost
LeaseCost
5800000 USD
us-gaap Lease Cost
LeaseCost
4500000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
4300000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
5100000 USD
CY2020Q2 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
11694000 USD
CY2020Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
18066000 USD
CY2020Q2 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
11400000 USD
CY2020Q2 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
173692000 USD
CY2020Q2 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
0 USD
CY2020Q2 rmbs Unrecognizedtaxbenefitexcludingforeigntaxwithholdings
Unrecognizedtaxbenefitexcludingforeigntaxwithholdings
26400000 USD
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
277838 shares
rmbs Employee Stock Purchase Plan Weighted Average Price Per Share
EmployeeStockPurchasePlanWeightedAveragePricePerShare
10.51
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
429396 shares
rmbs Employee Stock Purchase Plan Weighted Average Price Per Share
EmployeeStockPurchasePlanWeightedAveragePricePerShare
7.95
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2015Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
20000000.0 shares
CY2020Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
3600000 shares
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000 USD
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4400000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1300000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4700000 USD
CY2020Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
125900000 USD
CY2020Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
3000000.0 USD
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
115700000 USD

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