2018 Q2 Form 10-Q Financial Statement

#000156032718000060 Filed on May 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2018 Q1 2017 Q1
Revenue $58.44M $54.52M $45.25M
YoY Change 23.18% 20.49% 30.03%
Cost Of Revenue $17.39M $16.59M $12.26M
YoY Change 32.98% 35.31% 40.77%
Gross Profit $41.05M $37.92M $32.98M
YoY Change 19.45% 14.98% 26.44%
Gross Profit Margin 70.24% 69.56% 72.89%
Selling, General & Admin $39.31M $37.78M $32.06M
YoY Change 14.3% 17.86% 9.19%
% of Gross Profit 95.76% 99.64% 97.2%
Research & Development $16.08M $16.72M $11.39M
YoY Change 35.45% 46.77% -7.69%
% of Gross Profit 39.18% 44.1% 34.54%
Depreciation & Amortization $1.600M $2.399M $1.624M
YoY Change 45.45% 47.72% -5.08%
% of Gross Profit 3.9% 6.33% 4.92%
Operating Expenses $55.39M $54.51M $43.45M
YoY Change 19.73% 25.44% 4.19%
Operating Profit -$14.34M -$16.59M -$10.47M
YoY Change 20.53% 58.4% -32.97%
Interest Expense $0.00 $2.000K $169.0K
YoY Change -100.0% -98.82% -1226.67%
% of Operating Profit
Other Income/Expense, Net -$326.0K $78.00K -$115.0K
YoY Change -242.36% -167.83% -158.67%
Pretax Income -$14.20M -$16.27M -$10.42M
YoY Change 24.03% 56.16% -32.53%
Income Tax $131.0K $95.00K $129.0K
% Of Pretax Income
Net Earnings -$14.33M -$16.36M -$10.55M
YoY Change 23.17% 55.15% -32.32%
Net Earnings / Revenue -24.53% -30.01% -23.31%
Basic Earnings Per Share
Diluted Earnings Per Share -$308.9K -$362.8K -$250.0K
COMMON SHARES
Basic Shares Outstanding 46.23M shares 46.01M shares 42.64M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q2 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $114.7M $129.3M $79.20M
YoY Change 36.06% 63.26% -5.15%
Cash & Equivalents $100.7M $99.65M $50.66M
Short-Term Investments $14.00M $29.60M $28.60M
Other Short-Term Assets $22.70M $20.80M $7.700M
YoY Change 155.06% 170.13% 16.67%
Inventory
Prepaid Expenses
Receivables $48.50M $38.70M $33.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $185.9M $188.8M $120.7M
YoY Change 32.08% 56.47% 0.6%
LONG-TERM ASSETS
Property, Plant & Equipment $11.18M $8.589M $8.010M
YoY Change 34.96% 7.23% 5.24%
Goodwill $83.16M $83.16M $75.11M
YoY Change 10.72% 10.72% 0.22%
Intangibles $16.00M $16.64M
YoY Change 92.93%
Long-Term Investments $3.900M $1.100M $16.80M
YoY Change -55.68% -93.45%
Other Assets $23.60M $21.80M $700.0K
YoY Change 3833.33% 3014.29% 40.0%
Total Long-Term Assets $137.9M $122.5M $109.1M
YoY Change 36.36% 12.3% 16.27%
TOTAL ASSETS
Total Short-Term Assets $185.9M $188.8M $120.7M
Total Long-Term Assets $137.9M $122.5M $109.1M
Total Assets $323.8M $311.3M $229.8M
YoY Change 33.87% 35.5% 7.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.612M $2.240M $3.495M
YoY Change 104.34% -35.91% 110.92%
Accrued Expenses $21.83M $29.73M $16.35M
YoY Change 5.64% 81.87% 13.33%
Deferred Revenue $142.0M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $181.2M $166.2M $137.6M
YoY Change 20.5% 20.74% 28.72%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.305M $2.238M $3.187M
YoY Change -9.22% -29.78% -28.54%
Total Long-Term Liabilities $2.305M $2.238M $3.187M
YoY Change -9.22% -29.78% -28.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $181.2M $166.2M $137.6M
Total Long-Term Liabilities $2.305M $2.238M $3.187M
Total Liabilities $254.2M $261.3M $191.9M
YoY Change 22.68% 36.16% 25.3%
SHAREHOLDERS EQUITY
Retained Earnings -$439.7M -$409.0M -$400.0M
YoY Change 6.83% 2.26% 12.38%
Common Stock $467.0K $441.0K $428.0K
YoY Change 7.36% 3.04% 2.15%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.764M $4.764M $4.457M
YoY Change 5.14% 6.89% 26.4%
Treasury Stock Shares 486.8K shares 486.8K shares 469.0K shares
Shareholders Equity $69.54M $73.92M $37.86M
YoY Change
Total Liabilities & Shareholders Equity $323.8M $311.3M $229.8M
YoY Change 33.87% 35.5% 7.48%

Cashflow Statement

Concept 2018 Q2 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$14.33M -$16.36M -$10.55M
YoY Change 23.17% 55.15% -32.32%
Depreciation, Depletion And Amortization $1.600M $2.399M $1.624M
YoY Change 45.45% 47.72% -5.08%
Cash From Operating Activities -$9.120M $7.296M $3.320M
YoY Change 129.15% 119.76% -308.81%
INVESTING ACTIVITIES
Capital Expenditures -$4.220M $2.147M $1.335M
YoY Change 172.26% 60.82% 22.25%
Acquisitions
YoY Change
Other Investing Activities $12.87M $9.600M -$6.500M
YoY Change 143.75% -247.69%
Cash From Investing Activities $8.650M $6.762M -$7.840M
YoY Change 132.53% -186.25% 619.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $30.90M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.830M $34.36M 2.110M
YoY Change -25.0% 1528.53% -513.73%
NET CHANGE
Cash From Operating Activities -9.120M $7.296M 3.320M
Cash From Investing Activities 8.650M $6.762M -7.840M
Cash From Financing Activities 1.830M $34.36M 2.110M
Net Change In Cash 1.360M $48.42M -2.410M
YoY Change -37.61% -2109.13% -24.45%
FREE CASH FLOW
Cash From Operating Activities -$9.120M $7.296M $3.320M
Capital Expenditures -$4.220M $2.147M $1.335M
Free Cash Flow -$4.900M $5.149M $1.985M
YoY Change 101.65% 159.4% -174.01%

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0 USD
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600000 USD
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400000 USD
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CY2018Q1 us-gaap Maintenance Revenue
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1 Segment
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-20000 USD
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PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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PaymentsRelatedToTaxWithholdingForShareBasedCompensation
462000 USD
CY2017Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
7401000 USD
CY2018Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
4460000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1335000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2147000 USD
CY2017Q1 us-gaap Payments To Develop Software
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0 USD
CY2018Q1 us-gaap Payments To Develop Software
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693000 USD
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0.01
CY2018Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2017Q4 us-gaap Preferred Stock Shares Authorized
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CY2018Q1 us-gaap Preferred Stock Shares Authorized
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10000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
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8877000 USD
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12232000 USD
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8907000 USD
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30900000 USD
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900000 USD
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14062000 USD
CY2017Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
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0 USD
CY2018Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
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31231000 USD
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31341000 USD
CY2017Q1 us-gaap Proceeds From Stock Options Exercised
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775000 USD
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1961000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
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29318000 USD
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8589000 USD
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8589000 USD
CY2017Q1 us-gaap Provision For Doubtful Accounts
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316000 USD
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156000 USD
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0 USD
CY2018Q1 us-gaap Restricted Cash
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500000 USD
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CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
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-425401000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
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CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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54515000 USD
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54515000 USD
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8501000 USD
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8483000 USD
CY2017Q1 us-gaap Selling And Marketing Expense
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24810000 USD
CY2018Q1 us-gaap Selling And Marketing Expense
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29052000 USD
CY2017Q1 us-gaap Share Based Compensation
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4279000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
6225000 USD
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2018Q1 us-gaap Share Price
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22.00
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
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0.85
CY2017Q4 us-gaap Short Term Investments
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CY2018Q1 us-gaap Short Term Investments
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39178000 USD
CY2018Q1 us-gaap Stock Issued During Period Shares New Issues
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5950000 shares
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73922000 USD
CY2018Q1 us-gaap Stockholders Equity
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CY2017Q4 us-gaap Treasury Stock Shares
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486808 shares
CY2018Q1 us-gaap Treasury Stock Shares
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486808 shares
CY2017Q4 us-gaap Treasury Stock Value
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4764000 USD
CY2018Q1 us-gaap Treasury Stock Value
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4764000 USD
CY2018Q1 us-gaap Treasury Stock Value
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4764000 USD
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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42016831 shares
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
45210250 shares

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