2024 Q3 Form 10-Q Financial Statement

#000148477824000149 Filed on November 04, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $73.02M
YoY Change -11.0%
Cost Of Revenue $21.04M
YoY Change -17.23%
Gross Profit $51.98M
YoY Change -8.21%
Gross Profit Margin 71.19%
Selling, General & Admin $14.55M
YoY Change -3.41%
% of Gross Profit 27.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.000M
YoY Change -14.89%
% of Gross Profit 7.7%
Operating Expenses $76.85M
YoY Change 2.71%
Operating Profit -$24.87M
YoY Change 36.7%
Interest Expense -$629.0K
YoY Change -185.93%
% of Operating Profit
Other Income/Expense, Net $730.0K
YoY Change -13.61%
Pretax Income -$24.77M
YoY Change 36.99%
Income Tax $4.000K
% Of Pretax Income
Net Earnings -$24.77M
YoY Change 36.99%
Net Earnings / Revenue -33.92%
Basic Earnings Per Share -$0.22
Diluted Earnings Per Share -$0.22
COMMON SHARES
Basic Shares Outstanding 112.9M shares
Diluted Shares Outstanding 112.9M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $55.30M
YoY Change -25.4%
Cash & Equivalents $43.72M
Short-Term Investments $11.58M
Other Short-Term Assets $4.977M
YoY Change -30.87%
Inventory $7.375M
Prepaid Expenses
Receivables $5.717M
Other Receivables $0.00
Total Short-Term Assets $73.37M
YoY Change -30.45%
LONG-TERM ASSETS
Property, Plant & Equipment $76.43M
YoY Change -15.33%
Goodwill $12.10M
YoY Change 5.22%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.227M
YoY Change -5.95%
Total Long-Term Assets $141.6M
YoY Change -11.46%
TOTAL ASSETS
Total Short-Term Assets $73.37M
Total Long-Term Assets $141.6M
Total Assets $214.9M
YoY Change -19.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.13M
YoY Change 5.63%
Accrued Expenses $34.17M
YoY Change -15.05%
Deferred Revenue $11.00M
YoY Change -20.2%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $3.851M
YoY Change 0.44%
Total Short-Term Liabilities $76.40M
YoY Change -9.46%
LONG-TERM LIABILITIES
Long-Term Debt $19.12M
YoY Change -16.77%
Other Long-Term Liabilities $3.006M
YoY Change -6.96%
Total Long-Term Liabilities $22.12M
YoY Change -15.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $76.40M
Total Long-Term Liabilities $22.12M
Total Liabilities $145.7M
YoY Change -6.52%
SHAREHOLDERS EQUITY
Retained Earnings -$534.2M
YoY Change 15.05%
Common Stock $11.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $69.27M
YoY Change
Total Liabilities & Shareholders Equity $214.9M
YoY Change -19.01%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income -$24.77M
YoY Change 36.99%
Depreciation, Depletion And Amortization $4.000M
YoY Change -14.89%
Cash From Operating Activities $3.347M
YoY Change 1421.36%
INVESTING ACTIVITIES
Capital Expenditures $2.573M
YoY Change 72.68%
Acquisitions
YoY Change
Other Investing Activities -$920.0K
YoY Change -104.48%
Cash From Investing Activities -$3.493M
YoY Change -118.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.263M
YoY Change 2.68%
NET CHANGE
Cash From Operating Activities 3.347M
Cash From Investing Activities -3.493M
Cash From Financing Activities -1.263M
Net Change In Cash -1.409M
YoY Change -107.81%
FREE CASH FLOW
Cash From Operating Activities $3.347M
Capital Expenditures $2.573M
Free Cash Flow $774.0K
YoY Change -160.94%

Facts In Submission

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dei City Area Code
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dei Local Phone Number
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dei Security12b Title
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Debt
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ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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dei Document Period End Date
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CY2024Q3 us-gaap Asset Impairment Charges
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CY2023Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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us-gaap Asset Impairment Charges
AssetImpairmentCharges
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us-gaap Asset Impairment Charges
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<div style="margin-top:12pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts that are reported in the consolidated financial statements and the related disclosures. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include, but are not limited to: the useful lives of property and equipment and intangibles, allowance for sales returns, breakage on loyalty points and rewards and gift cards, valuation of inventory, stock-based compensation, lease liabilities, goodwill and acquired intangible assets, and impairment of long-lived assets.</span></div>
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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us-gaap Number Of Operating Segments
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CY2024Q3 us-gaap Asset Impairment Charges
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4200000 usd
CY2024Q3 us-gaap Goodwill Impairment Loss
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0 usd
CY2024Q3 us-gaap Property Plant And Equipment Gross
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135721000 usd
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135553000 usd
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59289000 usd
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
47881000 usd
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76432000 usd
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PropertyPlantAndEquipmentNet
87672000 usd
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Depreciation
4000000 usd
CY2023Q3 us-gaap Depreciation
Depreciation
4700000 usd
us-gaap Depreciation
Depreciation
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us-gaap Depreciation
Depreciation
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5600000 usd
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5600000 usd
CY2024Q3 us-gaap Goodwill
Goodwill
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Goodwill
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GoodwillImpairmentLoss
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GoodwillImpairmentLoss
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us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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CY2024Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
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FiniteLivedIntangibleAssetsAccumulatedAmortization
8095000 usd
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FiniteLivedIntangibleAssetsNet
1995000 usd
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FiniteLivedIntangibleAssetsGross
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FiniteLivedIntangibleAssetsAccumulatedAmortization
5982000 usd
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FiniteLivedIntangibleAssetsNet
8156000 usd
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
4200000 usd
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ImpairmentOfIntangibleAssetsFinitelived
4200000 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
700000 usd
CY2024Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
700000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2000000 usd
CY2024Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
666000 usd
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
3333000 usd
CY2024Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
6709000 usd
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InventoryFinishedGoodsNetOfReserves
12354000 usd
CY2024Q3 us-gaap Inventory Net
InventoryNet
7375000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
15687000 usd
CY2024Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
10999000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
11407000 usd
CY2024Q3 us-gaap Deferred Income Current
DeferredIncomeCurrent
5215000 usd
CY2023Q4 us-gaap Deferred Income Current
DeferredIncomeCurrent
6377000 usd
CY2024Q3 us-gaap Employee Related Liabilities Current
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4408000 usd
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EmployeeRelatedLiabilitiesCurrent
4092000 usd
CY2024Q3 tdup Accrued Vendor Liabilities Current
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4199000 usd
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4080000 usd
CY2024Q3 us-gaap Accrued Income Taxes Current
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4121000 usd
CY2024Q3 tdup Accounts Receivable Allowance For Returns Current
AccountsReceivableAllowanceForReturnsCurrent
3978000 usd
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AccountsReceivableAllowanceForReturnsCurrent
3817000 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1250000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1194000 usd
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
34170000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
35934000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1000000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
4000000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4000000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
14333000 usd
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
23333000 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
366000 usd
CY2024Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
3851000 usd
CY2024Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
19116000 usd
tdup Stockholders Equity Conversion Of Stock Ratio
StockholdersEquityConversionOfStockRatio
1 shares
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1120000000 shares
CY2024Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
113758000 shares
CY2024Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
113758000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1120000000 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
108784000 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
108784000 shares
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6467000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7888000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20687000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
16247000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.99
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y1M20D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5861000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
us-gaap Stock Issued During Period Shares Stock Options Exercised
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66000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.50
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
201000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.19
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
15980000 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.98
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y4M9D
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
15336000 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.98
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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P3Y3M
CY2024Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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0 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27599000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
28026000 shares
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q3 ecd Rule10b51 Arr Adopted Flag
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