2022 Q1 Form 10-Q Financial Statement

#000074683822000017 Filed on April 27, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021 Q1
Revenue $446.7M $539.3M $509.8M
YoY Change -12.38% -6.52% -1.09%
Cost Of Revenue $359.3M $375.6M $370.6M
YoY Change -3.05% -6.52% -7.88%
Gross Profit $87.40M $163.7M $139.2M
YoY Change -37.21% -6.51% 23.08%
Gross Profit Margin 19.57% 30.35% 27.3%
Selling, General & Admin $104.4M $108.7M $90.00M
YoY Change 16.0% -7.01% 3.69%
% of Gross Profit 119.45% 66.4% 64.66%
Research & Development $6.500M $9.400M $5.600M
YoY Change 16.07% -10.48% -9.68%
% of Gross Profit 7.44% 5.74% 4.02%
Depreciation & Amortization $10.40M $46.80M $7.600M
YoY Change 36.84% 17.29% -7.32%
% of Gross Profit 11.9% 28.59% 5.46%
Operating Expenses $110.9M $118.1M $95.60M
YoY Change 16.0% -7.3% 2.8%
Operating Profit -$23.50M $45.60M $43.60M
YoY Change -153.9% -4.4% 116.92%
Interest Expense $8.400M -$7.900M $10.10M
YoY Change -16.83% -82.25% -27.34%
% of Operating Profit -17.32% 23.17%
Other Income/Expense, Net -$21.00M -$146.2M -$182.6M
YoY Change -88.5% -8.11% 279.63%
Pretax Income -$52.90M -$109.6M -$149.1M
YoY Change -64.52% -29.7% 255.85%
Income Tax $4.100M $21.90M $8.400M
% Of Pretax Income
Net Earnings -$57.30M -$131.2M -$157.8M
YoY Change -63.69% -24.21% -115.54%
Net Earnings / Revenue -12.83% -24.33% -30.95%
Basic Earnings Per Share -$0.85 -$2.45
Diluted Earnings Per Share -$0.85 -$1.953M -$2.45
COMMON SHARES
Basic Shares Outstanding 67.39M shares 64.42M shares
Diluted Shares Outstanding 67.39M shares 64.42M shares

Balance Sheet

Concept 2022 Q1 2021 Q4 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $491.4M $552.9M $717.0M
YoY Change -31.46% -38.5% -9.24%
Cash & Equivalents $491.4M $552.9M $716.6M
Short-Term Investments
Other Short-Term Assets $108.3M $78.80M $99.00M
YoY Change 9.39% -11.46% -84.06%
Inventory $13.00M $7.600M $9.600M
Prepaid Expenses
Receivables $409.3M $493.7M $455.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.022B $1.133B $1.281B
YoY Change -20.19% -24.77% -32.0%
LONG-TERM ASSETS
Property, Plant & Equipment $82.10M $86.50M $106.9M
YoY Change -23.2% -21.72% -4.04%
Goodwill $314.8M $315.0M $108.6M
YoY Change 189.87% 190.06% 0.0%
Intangibles $32.50M $34.90M
YoY Change
Long-Term Investments
YoY Change
Other Assets $168.1M $173.9M $198.5M
YoY Change -15.31% -14.8% 15.88%
Total Long-Term Assets $1.255B $1.287B $1.176B
YoY Change 6.71% 7.04% 8.07%
TOTAL ASSETS
Total Short-Term Assets $1.022B $1.133B $1.281B
Total Long-Term Assets $1.255B $1.287B $1.176B
Total Assets $2.277B $2.420B $2.457B
YoY Change -7.31% -10.65% -17.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $172.5M $180.2M $172.7M
YoY Change -0.12% -19.27% -14.12%
Accrued Expenses $261.1M $300.9M $289.0M
YoY Change -9.65% -14.52% -2.03%
Deferred Revenue $238.9M $253.2M $248.0M
YoY Change -3.67% -1.52% 10.62%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $18.20M $18.20M $20.00M
YoY Change -9.0% -82.33% -96.23%
Total Short-Term Liabilities $690.7M $752.5M $729.9M
YoY Change -5.37% -19.53% -44.32%
LONG-TERM LIABILITIES
Long-Term Debt $504.9M $511.2M $521.0M
YoY Change -3.09% -3.0% 1008.51%
Other Long-Term Liabilities $46.40M $47.20M $65.60M
YoY Change -29.27% -33.89% 61.18%
Total Long-Term Liabilities $46.40M $47.20M $65.60M
YoY Change -29.27% -33.89% 61.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $690.7M $752.5M $729.9M
Total Long-Term Liabilities $46.40M $47.20M $65.60M
Total Liabilities $737.1M $799.7M $795.5M
YoY Change -7.34% -20.55% -41.14%
SHAREHOLDERS EQUITY
Retained Earnings -$1.466B -$1.409B -$1.118B
YoY Change 31.12% 46.69% 60.7%
Common Stock $4.717B $4.712B $4.694B
YoY Change 0.5% 1.16% 0.98%
Preferred Stock
YoY Change
Treasury Stock (at cost) $155.7M $152.2M $151.9M
YoY Change 2.5% 33.04% 33.01%
Treasury Stock Shares 5.500M shares 5.300M shares 5.300M shares
Shareholders Equity -$128.0M -$113.7M -$331.6M
YoY Change
Total Liabilities & Shareholders Equity $2.277B $2.420B $2.457B
YoY Change -7.31% -10.65% -17.33%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021 Q1
OPERATING ACTIVITIES
Net Income -$57.30M -$131.2M -$157.8M
YoY Change -63.69% -24.21% -115.54%
Depreciation, Depletion And Amortization $10.40M $46.80M $7.600M
YoY Change 36.84% 17.29% -7.32%
Cash From Operating Activities -$33.00M $68.00M -$42.90M
YoY Change -23.08% -119.13% -88.65%
INVESTING ACTIVITIES
Capital Expenditures $5.200M -$23.70M $5.100M
YoY Change 1.96% -32.29% -8.93%
Acquisitions $300.0K $0.00
YoY Change
Other Investing Activities $400.0K -$100.6M $400.0K
YoY Change 0.0% -583.65% -73.33%
Cash From Investing Activities -$21.70M -$124.3M -$33.90M
YoY Change -35.99% 775.35% -103.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $7.700M $91.60M
YoY Change -91.59% 1401.64%
Cash From Financing Activities -$11.20M -4.700M -$94.80M
YoY Change -88.19% -100.98% -286.61%
NET CHANGE
Cash From Operating Activities -$33.00M 68.00M -$42.90M
Cash From Investing Activities -$21.70M -124.3M -$33.90M
Cash From Financing Activities -$11.20M -4.700M -$94.80M
Net Change In Cash -$59.70M -61.00M -$180.2M
YoY Change -66.87% -156.53% -124.49%
FREE CASH FLOW
Cash From Operating Activities -$33.00M $68.00M -$42.90M
Capital Expenditures $5.200M -$23.70M $5.100M
Free Cash Flow -$38.20M $91.70M -$48.00M
YoY Change -20.42% -128.62% -87.48%

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CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2021Q1 us-gaap Revenues
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CY2022Q1 us-gaap Revenues
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CY2021Q1 us-gaap Revenues
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0.28
CY2022Q1 us-gaap Revenue Remaining Performance Obligation Percentage
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0.33

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