2020 Q1 Form 10-Q Financial Statement

#000156032720000076 Filed on May 08, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $94.34M $73.19M
YoY Change 28.91% 34.25%
Cost Of Revenue $27.71M $19.97M
YoY Change 38.76% 20.36%
Gross Profit $66.63M $53.21M
YoY Change 25.21% 40.32%
Gross Profit Margin 70.62% 72.71%
Selling, General & Admin $62.24M $45.09M
YoY Change 38.04% 19.34%
% of Gross Profit 93.42% 84.74%
Research & Development $24.20M $17.87M
YoY Change 35.47% 6.84%
% of Gross Profit 36.33% 33.57%
Depreciation & Amortization $4.843M $3.427M
YoY Change 41.32% 42.85%
% of Gross Profit 7.27% 6.44%
Operating Expenses $86.45M $62.96M
YoY Change 37.31% 15.5%
Operating Profit -$19.82M -$9.744M
YoY Change 103.41% -41.25%
Interest Expense $3.462M $3.229M
YoY Change 7.22% 161350.0%
% of Operating Profit
Other Income/Expense, Net -$447.0K -$206.0K
YoY Change 116.99% -364.1%
Pretax Income -$22.68M -$11.45M
YoY Change 98.12% -29.62%
Income Tax $243.0K $225.0K
% Of Pretax Income
Net Earnings -$22.92M -$11.67M
YoY Change 96.38% -28.65%
Net Earnings / Revenue -24.3% -15.95%
Basic Earnings Per Share
Diluted Earnings Per Share -$457.1K -$244.8K
COMMON SHARES
Basic Shares Outstanding 50.21M shares 47.99M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $240.8M $251.5M
YoY Change -4.25% 94.51%
Cash & Equivalents $204.4M $89.87M
Short-Term Investments $36.40M $161.6M
Other Short-Term Assets $37.10M $28.40M
YoY Change 30.63% 36.54%
Inventory
Prepaid Expenses
Receivables $64.40M $60.10M
Other Receivables $0.00 $0.00
Total Short-Term Assets $342.3M $339.9M
YoY Change 0.7% 80.05%
LONG-TERM ASSETS
Property, Plant & Equipment $50.08M $32.77M
YoY Change 52.8% 281.55%
Goodwill $97.90M $88.42M
YoY Change 10.72% 6.32%
Intangibles $27.87M $23.98M
YoY Change 16.21% 44.1%
Long-Term Investments $12.80M $33.60M
YoY Change -61.9% 2954.55%
Other Assets $39.80M $29.30M
YoY Change 35.84% 34.4%
Total Long-Term Assets $291.4M $224.0M
YoY Change 30.09% 82.79%
TOTAL ASSETS
Total Short-Term Assets $342.3M $339.9M
Total Long-Term Assets $291.4M $224.0M
Total Assets $633.7M $563.9M
YoY Change 12.37% 81.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.06M $6.297M
YoY Change 59.79% 181.12%
Accrued Expenses $26.49M $25.06M
YoY Change 5.68% -15.7%
Deferred Revenue $219.4M $184.5M
YoY Change 18.96% 29.88%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $264.9M $228.4M
YoY Change 15.96% 37.45%
LONG-TERM LIABILITIES
Long-Term Debt $187.9M $177.2M
YoY Change 6.04%
Other Long-Term Liabilities $1.325M $1.021M
YoY Change 29.77% -54.38%
Total Long-Term Liabilities $1.325M $1.021M
YoY Change 29.77% -54.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $264.9M $228.4M
Total Long-Term Liabilities $1.325M $1.021M
Total Liabilities $557.4M $475.1M
YoY Change 17.33% 81.8%
SHAREHOLDERS EQUITY
Retained Earnings -$541.4M -$476.3M
YoY Change 13.67% 16.43%
Common Stock $504.0K $482.0K
YoY Change 4.56% 9.3%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.764M $4.764M
YoY Change 0.0% 0.0%
Treasury Stock Shares 486.8K shares 486.8K shares
Shareholders Equity $76.30M $88.85M
YoY Change
Total Liabilities & Shareholders Equity $633.7M $563.9M
YoY Change 12.37% 81.13%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$22.92M -$11.67M
YoY Change 96.38% -28.65%
Depreciation, Depletion And Amortization $4.843M $3.427M
YoY Change 41.32% 42.85%
Cash From Operating Activities -$7.215M -$13.57M
YoY Change -46.82% -285.94%
INVESTING ACTIVITIES
Capital Expenditures $2.756M $8.463M
YoY Change -67.43% 294.18%
Acquisitions $0.00
YoY Change
Other Investing Activities $0.00 $9.710M
YoY Change -100.0% 1.15%
Cash From Investing Activities $85.42M -$355.0K
YoY Change -24162.54% -105.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.300M $2.600M
YoY Change 26.92% -91.59%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $3.374M $4.373M
YoY Change -22.84% -87.27%
NET CHANGE
Cash From Operating Activities -$7.215M -$13.57M
Cash From Investing Activities $85.42M -$355.0K
Cash From Financing Activities $3.374M $4.373M
Net Change In Cash $81.02M -$9.696M
YoY Change -935.61% -120.02%
FREE CASH FLOW
Cash From Operating Activities -$7.215M -$13.57M
Capital Expenditures $2.756M $8.463M
Free Cash Flow -$9.971M -$22.03M
YoY Change -54.74% -527.83%

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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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InterestPaidNet
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IncomeTaxesPaidNet
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IncomeTaxesPaidNet
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0 USD
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NoncashLeaseholdImprovementsAcquiredThroughTenantImprovementAllowance
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CY2020Q1 us-gaap Use Of Estimates
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<div style="text-align:justify;margin-top:12pt;"><span style="background-color:rgb(255,255,255, 0.0);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="text-align:justify;margin-top:6pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant items subject to such estimates and assumptions include the determination of the estimated economic life of perpetual licenses for revenue recognition, the determination of standalone selling prices in revenue transactions with multiple performance obligations, the estimated period of benefit for deferred contract acquisition and fulfillment costs, the useful lives of long-lived assets, the valuation of allowance for doubtful accounts, the valuation of stock-based compensation, the valuation of intangible assets acquired in a business combination, the incremental borrowing rate for operating leases and the valuation for deferred tax assets. We base our estimates on historical experience and on various other assumptions that we believe are reasonable. Actual results could differ from those estimates.</span></div><div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The COVID-19 pandemic is expected to result in a global slowdown of economic activity that is likely to decrease demand for a broad variety of goods and services, including from our customers. We currently expect our operational and financial performance to be negatively impacted by the slowdown in activity associated with the COVID-19 pandemic for the year ending December 31, 2020 and beyond. Estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require the exercise of judgment. As of the date of issuance of these financial statements, we are not aware of any specific event or circumstance that would require us to update our estimates, assumptions and judgments or revise the carrying value of our assets or liabilities. These estimates may change as new events occur and additional information is obtained and will be recognized in the consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to our financial statements.</span></div>
CY2019Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
64600000 USD
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
83400000 USD
CY2020Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="text-align:justify;margin-top:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;">Reclassification</span></div><div style="text-align:justify;margin-top:6pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Historically, we have presented revenue on our consolidated statement of operations as products, maintenance and support and professional services revenue. For the three months ended March 31, 2020, we have combined products and maintenance and support revenue as products revenue on our consolidated statement of operations as our customers continue to migrate from our on-premise products to our SaaS Insight Platform. Given this continued migration, we believe it is more relevant to categorize maintenance and support revenue together as products revenue. Prior periods have been adjusted to conform with this presentation.</span></div>
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
73185000 USD
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1000000.0 USD
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ContractWithCustomerAssetNet
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CY2020Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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AvailableForSaleDebtSecuritiesAmortizedCostBasis
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AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
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9000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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PropertyPlantAndEquipmentGross
64678000 USD
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
16203000 USD
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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PropertyPlantAndEquipmentNet
50075000 USD
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PropertyPlantAndEquipmentNet
50670000 USD
CY2020Q1 us-gaap Depreciation
Depreciation
2700000 USD
CY2019Q1 us-gaap Depreciation
Depreciation
1900000 USD
CY2020Q1 us-gaap Goodwill
Goodwill
97900000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
97900000 USD
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37414000 USD
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18970000 USD
CY2020Q1 rp Acquired Finite Lived Intangible Assets Net
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20134000 USD
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28561000 USD
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2100000 USD
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1600000 USD
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6469000 USD
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7841000 USD
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4970000 USD
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FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2667000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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304000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
0 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
22251000 USD
CY2020Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
5600000 USD
CY2020Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
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LesseeOperatingLeaseTerminationPeriod
P6Y
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OperatingLeaseCost
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CY2019Q1 us-gaap Operating Lease Cost
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ShortTermLeaseCost
290000 USD
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
149000 USD
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VariableLeaseCost
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CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
417000 USD
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LeaseCost
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CY2019Q1 us-gaap Lease Cost
LeaseCost
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OperatingLeaseLiabilityNoncurrent
71586000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
80452000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y2M12D
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y8M12D
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.073
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.076
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
3836000 USD
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1928000 USD
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RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3990000 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1866000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
10029000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
14871000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
12238000 USD
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LesseeOperatingLeaseLiabilityPaymentsDueYearFour
11965000 USD
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LesseeOperatingLeaseLiabilityPaymentsDueYearFive
11249000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
44134000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
104486000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
24034000 USD
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
80452000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13347000 USD
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8634000 USD
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2705458 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.18
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0 shares
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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0
CY2020Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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12.50
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
4519000 USD
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
11250 shares
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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12.47
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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47827939 shares
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2568776 shares
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.06
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y9M18D
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
85461000 USD
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2255925 shares
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.34
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y7M6D
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
76671000 USD
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.85
CY2020Q1 us-gaap Net Income Loss
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-22924000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-11673000 USD
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
50127310 shares
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.46
CY2019Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.24
CY2018Q4 us-gaap Loss Contingency Patents Allegedly Infringed Number
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7 patent
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6295640 shares
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7229241 shares
CY2020Q1 us-gaap Number Of Operating Segments
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1 Segment
CY2020Q1 us-gaap Revenues
Revenues
94340000 USD
CY2019Q1 us-gaap Revenues
Revenues
73185000 USD
CY2018Q4 us-gaap Loss Contingency Patents Allegedly Infringed Number
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7 patent
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
50075000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
50670000 USD

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rp-20200331_htm.xml Edgar Link completed
rp-20200331_lab.xml Edgar Link unprocessable
rp-20200331_pre.xml Edgar Link unprocessable
Show.js Edgar Link pending