2018 Q3 Form 10-Q Financial Statement

#000131472718000007 Filed on September 11, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q3
Revenue $272.9M $208.4M $214.1M
YoY Change 27.49% 14.16%
Cost Of Revenue $156.7M $112.9M $115.8M
YoY Change 35.33% 17.13%
Gross Profit $116.3M $95.49M $102.9M
YoY Change 13.01% 10.9%
Gross Profit Margin 42.6% 45.82% 48.06%
Selling, General & Admin $78.20M $81.68M $90.07M
YoY Change -13.18% 6.35%
% of Gross Profit 67.25% 85.54% 87.54%
Research & Development $37.90M $35.44M $33.35M
YoY Change 13.65% 21.8%
% of Gross Profit 32.59% 37.12% 32.41%
Depreciation & Amortization $10.80M $9.700M $8.900M
YoY Change 21.35% 24.36%
% of Gross Profit 9.29% 10.16% 8.65%
Operating Expenses $116.0M $117.1M $123.4M
YoY Change -6.01% 10.49%
Operating Profit $277.0K -$21.63M -$16.13M
YoY Change -101.72% 8.74%
Interest Expense -$3.700M -$1.116M -$1.185M
YoY Change 212.24% -153.14%
% of Operating Profit -1335.74%
Other Income/Expense, Net $1.800M -$4.860M $1.790M
YoY Change 0.56% 155.79%
Pretax Income -$1.800M -$26.49M -$14.34M
YoY Change -87.45% 34.49%
Income Tax -$100.0K $494.0K $196.0K
% Of Pretax Income
Net Earnings -$1.720M -$26.99M -$14.91M
YoY Change -88.46% 36.37%
Net Earnings / Revenue -0.63% -12.95% -6.96%
Basic Earnings Per Share -$0.02 -$0.45 -$0.26
Diluted Earnings Per Share -$0.02 -$0.45 -$0.26
COMMON SHARES
Basic Shares Outstanding 100.0M shares 60.07M shares
Diluted Shares Outstanding 60.07M shares

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $220.9M $124.4M
YoY Change
Cash & Equivalents $220.9M $124.4M $130.6M
Short-Term Investments
Other Short-Term Assets $10.07M $13.85M $9.462M
YoY Change 6.46%
Inventory $193.2M $113.4M $113.9M
Prepaid Expenses
Receivables $73.21M $53.10M $47.36M
Other Receivables $0.00 $0.00
Total Short-Term Assets $497.6M $305.0M $301.5M
YoY Change 65.06%
LONG-TERM ASSETS
Property, Plant & Equipment $85.37M $89.60M $95.13M
YoY Change -10.26%
Goodwill $1.000M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.586M $5.782M $2.314M
YoY Change 54.97%
Total Long-Term Assets $89.90M $96.36M $98.55M
YoY Change -8.78%
TOTAL ASSETS
Total Short-Term Assets $497.6M $305.0M $301.5M
Total Long-Term Assets $89.90M $96.36M $98.55M
Total Assets $587.5M $401.3M $400.0M
YoY Change 46.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $195.2M $117.2M $114.5M
YoY Change 70.45%
Accrued Expenses $38.69M $29.60M $57.35M
YoY Change -32.54%
Deferred Revenue $11.62M $17.25M $10.92M
YoY Change 6.36%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $6.667M $0.00
YoY Change
Total Short-Term Liabilities $296.4M $201.0M $223.3M
YoY Change 32.74%
LONG-TERM LIABILITIES
Long-Term Debt $33.10M $39.69M $39.60M
YoY Change -16.42%
Other Long-Term Liabilities $10.33M $10.85M $12.14M
YoY Change -14.87%
Total Long-Term Liabilities $43.43M $50.54M $51.74M
YoY Change -16.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $296.4M $201.0M $223.3M
Total Long-Term Liabilities $43.43M $50.54M $51.74M
Total Liabilities $379.1M $290.1M $309.7M
YoY Change 22.44%
SHAREHOLDERS EQUITY
Retained Earnings -$203.6M -$201.9M -$188.0M
YoY Change 8.3%
Common Stock $101.0K $61.00K $59.00K
YoY Change 71.19%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.07M $11.07M $10.16M
YoY Change 8.97%
Treasury Stock Shares 807.0K shares 746.5K shares
Shareholders Equity $208.4M $20.90M $27.00K
YoY Change
Total Liabilities & Shareholders Equity $587.5M $401.3M $400.0M
YoY Change 46.87%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q3
OPERATING ACTIVITIES
Net Income -$1.720M -$26.99M -$14.91M
YoY Change -88.46% 36.37%
Depreciation, Depletion And Amortization $10.80M $9.700M $8.900M
YoY Change 21.35% 24.36%
Cash From Operating Activities $14.80M $11.20M -$14.80M
YoY Change -200.0% -168.29%
INVESTING ACTIVITIES
Capital Expenditures -$9.800M -$4.000M -$8.700M
YoY Change 12.64% -25.93%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$9.800M -$4.000M -$8.700M
YoY Change 12.64% -25.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 91.70M 400.0K 1.400M
YoY Change 6450.0% -77.78%
NET CHANGE
Cash From Operating Activities 14.80M 11.20M -14.80M
Cash From Investing Activities -9.800M -4.000M -8.700M
Cash From Financing Activities 91.70M 400.0K 1.400M
Net Change In Cash 96.70M 7.600M -22.10M
YoY Change -537.56% -138.0%
FREE CASH FLOW
Cash From Operating Activities $14.80M $11.20M -$14.80M
Capital Expenditures -$9.800M -$4.000M -$8.700M
Free Cash Flow $24.60M $15.20M -$6.100M
YoY Change -503.28% -238.18%

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OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-2295000 USD
CY2018Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
162000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
523000 USD
CY2017Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
8497000 USD
CY2018Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
9346000 USD
CY2017Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
12139000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
10851000 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2975000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2047000 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3744000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-315000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
493000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
639000 USD
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
14987000 USD
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
30000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10078000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
10016000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5421000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5748000 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
95130000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
89600000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
30000000 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
33347000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
911000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2154000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
21073000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
25927000 USD
CY2017Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
688000 USD
CY2018Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
90920000 USD
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
35444000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
104209000 USD
CY2017Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
193000 USD
CY2018Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
191000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-188007000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-201891000 USD
CY2017Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
223078000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
778431000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
208398000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
864069000 USD
CY2017Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
70074000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
207225000 USD
CY2018Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
60819000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
214077000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
26961000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
29397000 USD
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
30582952 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.70
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
3387668 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
7676414 shares
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
199663000 USD
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
243060000 USD
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
45817252 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
48370248 shares
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.20
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.08
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
240964000 USD
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
45413361 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
9.80
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.31
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
13.05
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
15.09
CY2018Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
226453000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y4M24D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y10M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y8M12D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y7M6D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1735750 shares
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5748000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
27000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
20900000 USD
CY2017Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
90341000 USD
CY2018Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
90341000 USD
CY2017Q3 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
90976000 USD
CY2018Q2 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
90976000 USD
CY2017Q3 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.001
CY2018Q2 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.001
CY2017Q3 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
32675074 shares
CY2018Q2 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
32675074 shares
CY2017Q3 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
32482590 shares
CY2018Q2 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
32482590 shares
CY2017Q3 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
32482590 shares
CY2018Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
32482590 shares
CY2017Q3 us-gaap Treasury Stock Value
TreasuryStockValue
10161000 USD
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
11072000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
911000 USD
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
56334641 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
55776325 shares
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
60074763 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
59484761 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;padding-left:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of estimates and judgments</font></div><div style="line-height:100%;text-align:left;font-size:6pt;"><font style="font-family:inherit;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;padding-left:12px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. On an ongoing basis, the Company evaluates its estimates and judgments compared to historical experience and expected trends.</font></div></div>

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0001314727-18-000007.txt Edgar Link pending
0001314727-18-000007-xbrl.zip Edgar Link pending
a10-qq3fy18.htm Edgar Link pending
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sono-20180630.xml Edgar Link completed
sono-20180630.xsd Edgar Link pending
sono-20180630_cal.xml Edgar Link unprocessable
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sono-20180630_lab.xml Edgar Link unprocessable
sono-20180630_pre.xml Edgar Link unprocessable