2024 Q3 Form 10-Q Financial Statement

#000162828024032746 Filed on July 24, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $166.4M $145.4M
YoY Change -32.05% -41.1%
Cost Of Revenue $76.08M $68.78M
YoY Change -24.74% -25.98%
Gross Profit $90.31M $76.58M
YoY Change -37.18% -50.23%
Gross Profit Margin 54.28% 52.68%
Selling, General & Admin $36.79M $38.70M
YoY Change -9.61% -13.8%
% of Gross Profit 40.74% 50.53%
Research & Development $83.23M $85.91M
YoY Change -3.11% -3.9%
% of Gross Profit 92.16% 112.18%
Depreciation & Amortization $11.59M $12.60M
YoY Change -8.05% 102.07%
% of Gross Profit 12.83% 16.45%
Operating Expenses $120.0M $124.6M
YoY Change -5.2% -7.21%
Operating Profit -$29.71M -$48.02M
YoY Change -273.05% -345.34%
Interest Expense $3.209M $2.527M
YoY Change -48.11% 52.6%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$26.50M -$45.49M
YoY Change -213.48% -299.95%
Income Tax $2.000M $36.70M
% Of Pretax Income
Net Earnings -$28.50M -$82.16M
YoY Change -360.17% -688.22%
Net Earnings / Revenue -17.13% -56.52%
Basic Earnings Per Share -$0.88 -$2.56
Diluted Earnings Per Share -$0.88 -$2.56
COMMON SHARES
Basic Shares Outstanding 32.29M shares 31.92M shares
Diluted Shares Outstanding 32.31M shares 32.12M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $369.7M $339.2M
YoY Change -26.92% -70.56%
Cash & Equivalents $303.1M $240.8M
Short-Term Investments $66.60M $98.34M
Other Short-Term Assets $56.09M $53.59M
YoY Change -21.36% -38.92%
Inventory $139.5M $166.1M
Prepaid Expenses
Receivables $48.88M $41.21M
Other Receivables $0.00 $0.00
Total Short-Term Assets $614.1M $600.0M
YoY Change -25.19% -58.92%
LONG-TERM ASSETS
Property, Plant & Equipment $135.3M $139.4M
YoY Change -11.18% -8.36%
Goodwill $376.4M $376.4M
YoY Change 0.0% 0.0%
Intangibles $41.94M $47.37M
YoY Change -41.76% -39.57%
Long-Term Investments
YoY Change
Other Assets $81.46M $86.78M
YoY Change -16.08% -7.49%
Total Long-Term Assets $635.1M $649.9M
YoY Change -8.99% -7.25%
TOTAL ASSETS
Total Short-Term Assets $614.1M $600.0M
Total Long-Term Assets $635.1M $649.9M
Total Assets $1.249B $1.250B
YoY Change -17.75% -42.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $44.65M $39.30M
YoY Change -18.97% -44.99%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $118.3M $100.1M
YoY Change -45.87% -85.56%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $49.55M $56.85M
YoY Change 19.82% 16.81%
Total Long-Term Liabilities $49.55M $56.85M
YoY Change 19.82% 16.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $118.3M $100.1M
Total Long-Term Liabilities $49.55M $56.85M
Total Liabilities $167.9M $157.0M
YoY Change -35.42% -78.85%
SHAREHOLDERS EQUITY
Retained Earnings $1.026B $1.054B
YoY Change -18.8% -26.08%
Common Stock $3.000K $3.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.081B $1.093B
YoY Change
Total Liabilities & Shareholders Equity $1.249B $1.250B
YoY Change -17.75% -42.17%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$28.50M -$82.16M
YoY Change -360.17% -688.22%
Depreciation, Depletion And Amortization $11.59M $12.60M
YoY Change -8.05% 102.07%
Cash From Operating Activities $31.63M $16.13M
YoY Change -1524.64% -221.49%
INVESTING ACTIVITIES
Capital Expenditures $2.208M $3.530M
YoY Change -61.96% -53.9%
Acquisitions
YoY Change
Other Investing Activities $32.41M $43.14M
YoY Change -80.67% -83.53%
Cash From Investing Activities $30.20M $39.61M
YoY Change -81.34% -84.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 423.0K -6.398M
YoY Change -100.07% -73.93%
NET CHANGE
Cash From Operating Activities 31.63M 16.13M
Cash From Investing Activities 30.20M 39.61M
Cash From Financing Activities 423.0K -6.398M
Net Change In Cash 62.25M 49.35M
YoY Change -112.93% -77.2%
FREE CASH FLOW
Cash From Operating Activities $31.63M $16.13M
Capital Expenditures $2.208M $3.530M
Free Cash Flow $29.42M $12.60M
YoY Change -466.59% -160.2%

Facts In Submission

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<div style="margin-top:12pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company prepares financial statements on a 52- or 53-week fiscal year that ends on the Saturday closest to December 31. Fiscal 2024 will have 52 weeks and fiscal 2023 had 52 weeks. In a 52-week year, each fiscal quarter consists of 13 weeks.</span></div>
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EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3802000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3941000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
25653000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
27436000 usd
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
124400000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12300000 usd
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.530
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
20100000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.446
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001628280-24-032746.txt Edgar Link pending
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