2024 Q3 Form 10-Q Financial Statement

#000151737524000133 Filed on November 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $102.6M
YoY Change 20.0%
Cost Of Revenue $23.23M
YoY Change 15.02%
Gross Profit $79.41M
YoY Change 21.54%
Gross Profit Margin 77.37%
Selling, General & Admin $70.01M
YoY Change 0.77%
% of Gross Profit 88.17%
Research & Development $26.27M
YoY Change 30.99%
% of Gross Profit 33.09%
Depreciation & Amortization $2.513M
YoY Change 26.28%
% of Gross Profit 3.16%
Operating Expenses $96.29M
YoY Change 7.54%
Operating Profit -$16.88M
YoY Change -30.26%
Interest Expense $851.0K
YoY Change -25.81%
% of Operating Profit
Other Income/Expense, Net -$110.0K
YoY Change -62.46%
Pretax Income -$16.83M
YoY Change -29.84%
Income Tax $254.0K
% Of Pretax Income
Net Earnings -$17.09M
YoY Change -25.75%
Net Earnings / Revenue -16.65%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.30
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding 57.18M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $91.51M
YoY Change -19.04%
Cash & Equivalents $82.89M
Short-Term Investments $8.625M
Other Short-Term Assets $32.65M
YoY Change -14.31%
Inventory
Prepaid Expenses
Receivables $54.36M
Other Receivables $0.00
Total Short-Term Assets $178.5M
YoY Change -9.03%
LONG-TERM ASSETS
Property, Plant & Equipment $10.77M
YoY Change -5.52%
Goodwill $121.3M
YoY Change -1.11%
Intangibles $23.39M
YoY Change -21.17%
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $1.060M
YoY Change -4.59%
Total Long-Term Assets $210.3M
YoY Change 3.05%
TOTAL ASSETS
Total Short-Term Assets $178.5M
Total Long-Term Assets $210.3M
Total Assets $388.8M
YoY Change -2.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.536M
YoY Change -34.82%
Accrued Expenses $10.23M
YoY Change -3.13%
Deferred Revenue $149.2M
YoY Change 21.78%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $186.5M
YoY Change 14.21%
LONG-TERM LIABILITIES
Long-Term Debt $30.00M
YoY Change -60.0%
Other Long-Term Liabilities $351.0K
YoY Change -26.42%
Total Long-Term Liabilities $351.0K
YoY Change -26.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $186.5M
Total Long-Term Liabilities $351.0K
Total Liabilities $230.7M
YoY Change -9.64%
SHAREHOLDERS EQUITY
Retained Earnings -$340.0M
YoY Change 24.83%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $37.11M
YoY Change 7.34%
Treasury Stock Shares
Shareholders Equity $158.1M
YoY Change
Total Liabilities & Shareholders Equity $388.8M
YoY Change -2.87%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income -$17.09M
YoY Change -25.75%
Depreciation, Depletion And Amortization $2.513M
YoY Change 26.28%
Cash From Operating Activities $8.952M
YoY Change -262.17%
INVESTING ACTIVITIES
Capital Expenditures $477.0K
YoY Change -40.38%
Acquisitions
YoY Change
Other Investing Activities $3.800M
YoY Change -103.78%
Cash From Investing Activities $3.323M
YoY Change -103.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.25M
YoY Change -113.91%
NET CHANGE
Cash From Operating Activities 8.952M
Cash From Investing Activities 3.323M
Cash From Financing Activities -10.25M
Net Change In Cash 2.025M
YoY Change -106.09%
FREE CASH FLOW
Cash From Operating Activities $8.952M
Capital Expenditures $477.0K
Free Cash Flow $8.475M
YoY Change -234.1%

Facts In Submission

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us-gaap Increase Decrease In Contract With Customer Asset
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spt Deferred Offering Costs Incurred But Not Yet Paid
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<div style="margin-bottom:10pt;text-indent:36pt"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The Company bases its estimates on historical experience and on other assumptions that its management believes are reasonable under the circumstances. Actual results could differ from those estimates. The Company’s estimates and judgments include, but are not limited to, the estimated period of benefit for incremental costs of obtaining a contract with a customer, the incremental borrowing rate for operating leases, calculation of allowance for credit losses, valuation of assets and liabilities acquired as part of business combinations, useful lives of long-lived assets, stock-based compensation, income taxes, commitments and contingencies and litigation, among others. The Company is not aware of any events or circumstances that would require an update to its estimates and judgments or a revision of the carrying value of its assets or liabilities as of November 8, 2024, the date of issuance of this Quarterly Report on Form 10-Q. Actual results could differ from those estimates.</span></div>
CY2024Q3 spt Spt Decrease In Amortization Expense Of Deferred Cost
Spt_DecreaseInAmortizationExpenseOfDeferredCost
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spt Spt Decrease In Amortization Expense Of Deferred Cost
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CY2024Q3 spt Spt Benefit To Net Loss Per Share
Spt_BenefitToNetLossPerShare
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Spt_BenefitToNetLossPerShare
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CY2024Q3 us-gaap Operating Lease Liability
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CY2024Q3 spt Operating Lease Expense1
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OperatingLeaseExpense1
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spt Operating Lease Expense1
OperatingLeaseExpense1
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spt Operating Lease Expense1
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us-gaap Operating Lease Payments
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CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4692000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1577000 usd
CY2024Q3 spt Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
2619000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
18946000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2198000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
16748000 usd
CY2023Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
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CY2023Q3 us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
August 1, 2028
CY2024Q3 us-gaap Line Of Credit Facility Covenant Terms
LineOfCreditFacilityCovenantTerms
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CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19013000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
61850000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2024Q3 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
2223000 usd
CY2024Q3 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
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CY2024Q3 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
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CY2024Q3 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
611000 usd
CY2024Q3 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
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CY2024Q3 spt Purchase Obligation Due After Fourth Year
PurchaseObligationDueAfterFourthYear
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CY2024Q3 us-gaap Purchase Obligation
PurchaseObligation
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us-gaap Number Of Operating Segments
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us-gaap Number Of Operating Segments
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CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
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NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57179710 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57179710 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55831230 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55831230 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56742498 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56742498 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.30
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.41
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.84
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.83
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4904516 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3847744 shares
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
48344000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
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CY2023Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
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CY2024Q3 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
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CY2023Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
3699000 usd
CY2024Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
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CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
48344000 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
31358000 usd
CY2023Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
1685000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
121404000 usd
CY2024Q3 us-gaap Goodwill
Goodwill
121315000 usd

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