2022 Q1 Form 10-Q Financial Statement

#000138490522000031 Filed on May 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $467.7M $352.4M
YoY Change 32.72% 31.72%
Cost Of Revenue $155.5M $96.98M
YoY Change 60.31% 32.05%
Gross Profit $312.2M $255.4M
YoY Change 22.24% 31.59%
Gross Profit Margin 66.75% 72.48%
Selling, General & Admin $325.5M $234.7M
YoY Change 38.66% 31.38%
% of Gross Profit 104.25% 91.91%
Research & Development $90.27M $62.68M
YoY Change 44.03% 53.2%
% of Gross Profit 28.92% 24.54%
Depreciation & Amortization $16.90M $13.00M
YoY Change 30.0% 64.56%
% of Gross Profit 5.41% 5.09%
Operating Expenses $415.7M $297.4M
YoY Change 39.79% 35.45%
Operating Profit -$103.5M -$42.01M
YoY Change 146.46% 64.81%
Interest Expense $1.232M $16.28M
YoY Change -92.43% 116.98%
% of Operating Profit
Other Income/Expense, Net -$46.45M $42.27M
YoY Change -209.9% -220.69%
Pretax Income -$150.0M $254.0K
YoY Change -59152.36% -100.42%
Income Tax $1.000M $400.0K
% Of Pretax Income 157.48%
Net Earnings -$151.0M -$186.0K
YoY Change 81067.74% -99.69%
Net Earnings / Revenue -32.28% -0.05%
Basic Earnings Per Share -$1.60 $0.00
Diluted Earnings Per Share -$1.60 $0.00
COMMON SHARES
Basic Shares Outstanding 94.57M shares 90.63M shares
Diluted Shares Outstanding 94.57M shares 90.63M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $301.9M $463.1M
YoY Change -34.8% -39.23%
Cash & Equivalents $301.9M $463.1M
Short-Term Investments
Other Short-Term Assets $15.54M $14.88M
YoY Change 4.46% 22.32%
Inventory $5.747M $545.0K
Prepaid Expenses $30.19M $24.78M
Receivables $257.3M $166.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $720.8M $743.7M
YoY Change -3.09% -23.45%
LONG-TERM ASSETS
Property, Plant & Equipment $173.4M $145.6M
YoY Change 19.12% 48.68%
Goodwill $55.08M $56.30M
YoY Change -2.15% 2.67%
Intangibles $672.5M $115.0M
YoY Change 484.55% -2.94%
Long-Term Investments $163.8M $270.7M
YoY Change -39.49% 146.31%
Other Assets $7.906M $8.453M
YoY Change -6.47% -7.88%
Total Long-Term Assets $1.847B $1.326B
YoY Change 39.29% 47.28%
TOTAL ASSETS
Total Short-Term Assets $720.8M $743.7M
Total Long-Term Assets $1.847B $1.326B
Total Assets $2.568B $2.070B
YoY Change 24.06% 10.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $77.02M $44.72M
YoY Change 72.23% 26.66%
Accrued Expenses $297.3M $216.3M
YoY Change 37.4% 33.31%
Deferred Revenue $201.4M $146.2M
YoY Change 37.71% 32.74%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $37.10M
YoY Change
Total Short-Term Liabilities $575.7M $444.4M
YoY Change 29.55% 44.38%
LONG-TERM LIABILITIES
Long-Term Debt $1.635B $1.351B
YoY Change 21.04% 29.64%
Other Long-Term Liabilities $80.58M $21.30M
YoY Change 278.32% 352.4%
Total Long-Term Liabilities $80.58M $21.30M
YoY Change 278.32% 352.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $575.7M $444.4M
Total Long-Term Liabilities $80.58M $21.30M
Total Liabilities $2.320B $1.853B
YoY Change 25.21% 34.1%
SHAREHOLDERS EQUITY
Retained Earnings -$805.7M -$372.5M
YoY Change 116.3% 6.42%
Common Stock $855.9M $582.2M
YoY Change 47.02% -30.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $48.78M $213.1M
YoY Change
Total Liabilities & Shareholders Equity $2.568B $2.070B
YoY Change 24.06% 10.57%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$151.0M -$186.0K
YoY Change 81067.74% -99.69%
Depreciation, Depletion And Amortization $16.90M $13.00M
YoY Change 30.0% 64.56%
Cash From Operating Activities $59.00M $36.96M
YoY Change 59.64% 182.77%
INVESTING ACTIVITIES
Capital Expenditures $6.852M $8.721M
YoY Change -21.43% 27.11%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$21.93M -$26.84M
YoY Change -18.29% 88.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.930M -$186.5M
YoY Change -98.97% -144.37%
NET CHANGE
Cash From Operating Activities $59.00M $36.96M
Cash From Investing Activities -$21.93M -$26.84M
Cash From Financing Activities -$1.930M -$186.5M
Net Change In Cash $34.77M -$176.8M
YoY Change -119.67% -142.25%
FREE CASH FLOW
Cash From Operating Activities $59.00M $36.96M
Capital Expenditures $6.852M $8.721M
Free Cash Flow $52.14M $28.23M
YoY Change 84.68% 354.8%

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CY2021Q1 us-gaap Increase Decrease In Operating Lease Liability
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CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022Q1 us-gaap Payments To Acquire Software
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CY2021Q1 us-gaap Payments To Acquire Software
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CY2022Q1 rng Payments To Acquire Intangible Assets And Long Term Investments
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CY2021Q1 rng Payments To Acquire Intangible Assets And Long Term Investments
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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022Q1 us-gaap Revenue Remaining Performance Obligation Percentage
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0.52
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CY2021Q1 us-gaap Repayments Of Notes Payable
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1192000 USD
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2022Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
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CY2021Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
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CY2021Q1 us-gaap Repayments Of Debt
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CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q1 us-gaap Interest Paid Net
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CY2021Q1 us-gaap Income Taxes Paid Net
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CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2022Q1 us-gaap Use Of Estimates
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<div style="margin-top:18pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. The significant estimates made by management affect revenues, the allowance for doubtful accounts, valuation of long-term investments, deferred and prepaid sales commission costs, goodwill, useful lives of intangible assets, share-based compensation, capitalization of internally developed software, return reserves, provision for income taxes, uncertain tax positions, loss contingencies, sales tax liabilities, and accrued liabilities. Management periodically evaluates these estimates and will make adjustments prospectively based upon the results of such periodic evaluations. Actual results may differ from these estimates. We assessed the impact of COVID-19 on the estimates and assumptions and determined there was no material impact.</span></div>
CY2022Q1 us-gaap Concentration Risk Credit Risk
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<div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations</span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2022 and December 31, 2021, none of the Company’s customers accounted for more than 10% of the Company’s total accounts receivable.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Long-lived assets by geographic location are based on the location of the legal entity that owns the asset. As of March 31, 2022 and December 31, 2021, approximately 95% of the Company’s consolidated long-lived assets were located in the U.S. No other single country outside of the U.S. represented more than 10% of the Company’s consolidated long-lived assets.</span></div>
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105200000 USD
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CY2022Q1 us-gaap Restricted Cash
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173436000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
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CY2022Q1 us-gaap Depreciation
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CY2021Q1 us-gaap Depreciation
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CY2022Q1 us-gaap Goodwill
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CY2021Q1 us-gaap Amortization Of Intangible Assets
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11600000 USD
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128666000 USD
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150587000 USD
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CY2022Q1 rng Finite Lived Intangible Asset Expected Amortization After Year Four
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CY2022Q1 us-gaap Accrued Liabilities Current
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CY2022Q1 us-gaap Amortization Of Deferred Sales Commissions
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23200000 USD
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15600000 USD
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CY2022Q1 us-gaap Asset Impairment Charges
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CY2022Q1 us-gaap Investments Fair Value Disclosure
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CY2022Q1 us-gaap Unrealized Gain Loss On Investments
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CY2021Q1 us-gaap Unrealized Gain Loss On Investments
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CY2022Q1 us-gaap Equity Securities Fv Ni Current And Noncurrent
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CY2021Q4 us-gaap Equity Securities Fv Ni Current And Noncurrent
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8600000 USD
CY2022Q1 us-gaap Equity Securities Fv Ni Gain Loss
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-1800000 USD
CY2022Q1 us-gaap Amortization Of Debt Discount Premium
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CY2021Q1 us-gaap Amortization Of Debt Discount Premium
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15411000 USD
CY2022Q1 us-gaap Amortization Of Financing Costs
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1116000 USD
CY2021Q1 us-gaap Amortization Of Financing Costs
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789000 USD
CY2022Q1 us-gaap Amortization Of Financing Costs And Discounts
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1116000 USD
CY2021Q1 us-gaap Amortization Of Financing Costs And Discounts
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16200000 USD
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
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CY2021Q4 us-gaap Operating Lease Right Of Use Asset
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CY2022Q1 us-gaap Operating Lease Liability Current
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CY2021Q4 us-gaap Operating Lease Liability Current
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CY2022Q1 us-gaap Operating Lease Liability Noncurrent
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31812000 USD
CY2022Q1 us-gaap Operating Lease Liability
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CY2021Q4 us-gaap Operating Lease Liability
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50498000 USD
CY2022Q1 us-gaap Operating Lease Payments
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5813000 USD
CY2021Q1 us-gaap Operating Lease Payments
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5072000 USD
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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2095000 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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2302000 USD
CY2017Q2 us-gaap Loss Contingency Number Of Plaintiffs
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2 action
CY2020Q2 rng Loss Contingency Damages Sought Value Per Violation
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5000 USD
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2 defendent
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
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CY2021Q1 us-gaap Allocated Share Based Compensation Expense
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54962000 USD
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
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97608000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
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54962000 USD
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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9.12
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P0Y10M24D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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27465000 USD
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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7.10
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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0 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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66000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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11.82
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P0Y10M24D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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6926000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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66000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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11.82
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P0Y10M24D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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6926000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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66000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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11.82
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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P0Y10M24D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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6926000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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11500000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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37400000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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0 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
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CY2021Q1 us-gaap Income Tax Expense Benefit
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CY2022Q1 us-gaap Net Income Loss
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CY2021Q1 us-gaap Net Income Loss
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q1 us-gaap Earnings Per Share Basic
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CY2022Q1 us-gaap Earnings Per Share Diluted
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CY2021Q1 us-gaap Earnings Per Share Diluted
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0
CY2021Q1 us-gaap Earnings Per Share Basic
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0
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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4003000 shares

Files In Submission

Name View Source Status
0001384905-22-000031-index-headers.html Edgar Link pending
0001384905-22-000031-index.html Edgar Link pending
0001384905-22-000031.txt Edgar Link pending
0001384905-22-000031-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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report.css Edgar Link pending
rng-20220331.htm Edgar Link pending
rng-20220331.xsd Edgar Link pending
rng-20220331x10qxex311.htm Edgar Link pending
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rng-20220331_cal.xml Edgar Link unprocessable
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rng-20220331_lab.xml Edgar Link unprocessable
rng-20220331_pre.xml Edgar Link unprocessable
Show.js Edgar Link pending