2017 Q3 Form 10-Q Financial Statement

#000162828017008341 Filed on August 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2016 Q2
Revenue $50.52M $47.44M $37.27M
YoY Change 25.24% 27.3% 44.51%
Cost Of Revenue $14.37M $13.08M $9.293M
YoY Change 43.13% 40.74% 38.14%
Gross Profit $36.15M $34.36M $27.98M
YoY Change 19.32% 22.84% 46.75%
Gross Profit Margin 71.56% 72.43% 75.06%
Selling, General & Admin $35.63M $34.39M $28.32M
YoY Change 23.32% 21.41% 45.21%
% of Gross Profit 98.54% 100.07% 101.25%
Research & Development $13.57M $11.87M $12.93M
YoY Change 16.82% -8.19% 59.05%
% of Gross Profit 37.53% 34.55% 46.23%
Depreciation & Amortization $1.200M $1.100M $1.100M
YoY Change 9.09% 0.0% 10.0%
% of Gross Profit 3.32% 3.2% 3.93%
Operating Expenses $49.20M $46.26M $41.26M
YoY Change 21.46% 12.13% 49.28%
Operating Profit -$13.04M -$11.90M -$13.28M
YoY Change 27.81% -10.42% 54.92%
Interest Expense $11.00K $218.0K $26.00K
YoY Change -75.0% 738.46% -103.53%
% of Operating Profit
Other Income/Expense, Net $235.0K $229.0K -$48.00K
YoY Change 552.78% -577.08% -129.45%
Pretax Income -$12.61M -$11.45M -$13.30M
YoY Change 24.55% -13.93% 45.44%
Income Tax -$2.325M $187.0K $149.0K
% Of Pretax Income
Net Earnings -$10.28M -$11.64M -$13.45M
YoY Change 0.88% -13.49% 45.52%
Net Earnings / Revenue -20.36% -24.53% -36.1%
Basic Earnings Per Share
Diluted Earnings Per Share -$237.9K -$271.7K -$328.5K
COMMON SHARES
Basic Shares Outstanding 43.55M shares 42.86M shares 41.94M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $83.90M $84.30M $84.80M
YoY Change -4.33% -0.59% 214.07%
Cash & Equivalents $49.06M $53.07M $84.76M
Short-Term Investments $34.80M $31.20M
Other Short-Term Assets $8.700M $8.900M $7.200M
YoY Change 29.85% 23.61% 14.29%
Inventory
Prepaid Expenses
Receivables $48.70M $47.60M $38.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $141.3M $140.7M $130.6M
YoY Change 6.49% 7.76% 118.91%
LONG-TERM ASSETS
Property, Plant & Equipment $7.995M $8.287M $7.386M
YoY Change -0.17% 12.2% -2.91%
Goodwill $83.17M $75.11M $75.05M
YoY Change 10.73% 0.08% 376.25%
Intangibles $17.21M $8.294M
YoY Change
Long-Term Investments $1.100M $8.800M
YoY Change
Other Assets $600.0K $600.0K $600.0K
YoY Change -25.0% 0.0% -14.29%
Total Long-Term Assets $110.1M $101.1M $93.25M
YoY Change 17.99% 8.44% 247.77%
TOTAL ASSETS
Total Short-Term Assets $141.3M $140.7M $130.6M
Total Long-Term Assets $110.1M $101.1M $93.25M
Total Assets $251.4M $241.9M $223.9M
YoY Change 11.24% 8.04% 158.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.567M $2.257M $4.200M
YoY Change 33.35% -46.26% 40.47%
Accrued Expenses $23.74M $20.67M $19.80M
YoY Change 6.8% 4.39% 55.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $161.8M $150.3M $124.4M
YoY Change 23.6% 20.85% 43.39%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $2.333M $2.539M $2.939M
YoY Change -18.77% -13.61% -41.8%
Total Long-Term Liabilities $2.333M $2.539M $2.939M
YoY Change -18.77% -13.61% -83.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $161.8M $150.3M $124.4M
Total Long-Term Liabilities $2.333M $2.539M $2.939M
Total Liabilities $219.7M $207.2M $172.7M
YoY Change 23.14% 19.99% 26.57%
SHAREHOLDERS EQUITY
Retained Earnings -$421.9M -$411.6M -$369.4M
YoY Change 11.16% 11.44% 25.96%
Common Stock $439.0K $435.0K $421.0K
YoY Change 3.29% 3.33% 218.94%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.645M $4.531M $4.154M
YoY Change 11.82% 9.08% 17.81%
Treasury Stock Shares 480.2K shares 473.6K shares 448.6K shares
Shareholders Equity $31.77M $34.63M $51.15M
YoY Change
Total Liabilities & Shareholders Equity $251.4M $241.9M $223.9M
YoY Change 11.24% 8.04% 158.87%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$10.28M -$11.64M -$13.45M
YoY Change 0.88% -13.49% 45.52%
Depreciation, Depletion And Amortization $1.200M $1.100M $1.100M
YoY Change 9.09% 0.0% 10.0%
Cash From Operating Activities $5.740M -$3.980M $1.860M
YoY Change 220.67% -313.98% -250.0%
INVESTING ACTIVITIES
Capital Expenditures -$1.370M -$1.550M -$750.0K
YoY Change -6.8% 106.67% 19.05%
Acquisitions
YoY Change
Other Investing Activities -$10.66M $5.280M $0.00
YoY Change -100.0%
Cash From Investing Activities -$12.02M $3.720M -$750.0K
YoY Change 717.69% -596.0% -81.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.100M 2.440M 210.0K
YoY Change -20.75% 1061.9% -116.28%
NET CHANGE
Cash From Operating Activities 5.740M -3.980M 1.860M
Cash From Investing Activities -12.02M 3.720M -750.0K
Cash From Financing Activities 2.100M 2.440M 210.0K
Net Change In Cash -4.180M 2.180M 1.320M
YoY Change -240.74% 65.15% -120.31%
FREE CASH FLOW
Cash From Operating Activities $5.740M -$3.980M $1.860M
Capital Expenditures -$1.370M -$1.550M -$750.0K
Free Cash Flow $7.110M -$2.430M $2.610M
YoY Change 118.1% -193.1% -527.87%

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NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1842000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-4117000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
271000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-660000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-13452000 USD
us-gaap Net Income Loss
NetIncomeLoss
-29032000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-11637000 USD
us-gaap Net Income Loss
NetIncomeLoss
-22182000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
41256000 USD
us-gaap Operating Expenses
OperatingExpenses
82959000 USD
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
46261000 USD
us-gaap Operating Expenses
OperatingExpenses
89712000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-13281000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-28900000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-11897000 USD
CY2016Q4 us-gaap Other Assets
OtherAssets
764000 USD
CY2017Q2 us-gaap Other Assets
OtherAssets
630000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
0 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-10000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-30000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-7000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-27000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-3000 USD
CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1195000 USD
CY2017Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1334000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
3496000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2539000 USD
us-gaap Other Noncash Expense
OtherNoncashExpense
130000 USD
us-gaap Other Noncash Expense
OtherNoncashExpense
175000 USD
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-48000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
148000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
229000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
114000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3760000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
261000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
0 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
796000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
0 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
15828000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1842000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2578000 USD
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
0 USD
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
316000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9152000 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8892000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
0 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
14605000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1431000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4111000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
24052000 USD
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
26520000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8088000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8287000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
394000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
478000 USD
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
68000 USD
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
0 USD
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12932000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
25274000 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11873000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
23266000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-389338000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-411625000 USD
CY2017Q2 us-gaap Revenues
Revenues
47443000 USD
us-gaap Revenues
Revenues
92688000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
4531000 USD
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
41063613 shares
CY2016Q2 us-gaap Revenues
Revenues
37268000 USD
us-gaap Revenues
Revenues
72064000 USD
CY2016Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
6850000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
13120000 USD
CY2017Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
8937000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
17438000 USD
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
21680000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
44448000 USD
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
27132000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
51942000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9160000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9450000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2016Q4 us-gaap Short Term Investments
ShortTermInvestments
18779000 USD
CY2017Q2 us-gaap Short Term Investments
ShortTermInvestments
31213000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
42038000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
34627000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
464054 shares
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
473588 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
9534 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
4391000 USD
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
40805641 shares
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
42681287 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
42395450 shares

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