2023 Q4 Form 10-K Financial Statement

#000155837024009018 Filed on June 07, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022 Q4
Revenue $120.3M $477.7M $132.0M
YoY Change -8.86% -1.43% 0.82%
Cost Of Revenue $36.58M $136.9M $36.28M
YoY Change 0.84% 11.62% -5.16%
Gross Profit $83.76M $340.8M $95.77M
YoY Change -12.53% -5.85% 3.29%
Gross Profit Margin 69.6% 71.34% 72.53%
Selling, General & Admin $71.22M $173.6M $68.48M
YoY Change 3.99% -19.85% 0.77%
% of Gross Profit 85.02% 50.93% 71.51%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.55M $7.101M $16.42M
YoY Change -5.31% -87.75% -16.76%
% of Gross Profit 18.57% 2.08% 17.15%
Operating Expenses $72.02M $509.3M $71.13M
YoY Change 1.27% 124.74% 1.14%
Operating Profit $11.74M -$31.57M $24.64M
YoY Change -52.36% -123.32% 10.04%
Interest Expense -$11.69M $56.20M -$11.56M
YoY Change 1.13% -208.04% -16.66%
% of Operating Profit -99.62% -46.93%
Other Income/Expense, Net -$451.0K $96.08M -$249.0K
YoY Change 81.12% 1219.29% 678.13%
Pretax Income -$5.380M $17.64M $6.554M
YoY Change -182.09% -68.88% -22.75%
Income Tax $2.685M $7.944M $4.046M
% Of Pretax Income 45.03% 61.73%
Net Earnings -$10.98M $2.050M $1.713M
YoY Change -741.16% -94.51% -74.06%
Net Earnings / Revenue -9.13% 0.43% 1.3%
Basic Earnings Per Share $0.04
Diluted Earnings Per Share -$0.23 $0.04 $0.03
COMMON SHARES
Basic Shares Outstanding 47.65M
Diluted Shares Outstanding 50.24M

Balance Sheet

Concept 2023 Q4 2023 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $233.1M $233.1M $75.40M
YoY Change 209.12% 209.12% -42.98%
Cash & Equivalents $233.1M $233.1M $75.40M
Short-Term Investments
Other Short-Term Assets $15.95M $55.68M $71.08M
YoY Change -77.56% -21.66% 1393.26%
Inventory
Prepaid Expenses $9.504M $8.729M
Receivables $133.2M $133.2M $143.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $422.0M $422.0M $289.7M
YoY Change 45.63% 45.63% -7.51%
LONG-TERM ASSETS
Property, Plant & Equipment $28.66M $60.31M $59.64M
YoY Change -51.94% 1.13% 126.83%
Goodwill $216.6M $216.6M
YoY Change 0.0% -3.05%
Intangibles $49.10M $55.19M
YoY Change -11.03%
Long-Term Investments $0.00 $0.00 $136.8M
YoY Change -100.0% -100.0% 21.52%
Other Assets $5.450M $5.450M $5.688M
YoY Change -4.18% -4.18% -87.26%
Total Long-Term Assets $789.2M $789.2M $1.049B
YoY Change -24.75% -24.75% 10.65%
TOTAL ASSETS
Total Short-Term Assets $422.0M $422.0M $289.7M
Total Long-Term Assets $789.2M $789.2M $1.049B
Total Assets $1.211B $1.211B $1.338B
YoY Change -9.51% -9.51% 6.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.00M $20.00M $18.00M
YoY Change 11.09% 11.09% 23.41%
Accrued Expenses $47.41M $51.78M $49.22M
YoY Change -3.68% -2.16% 5.88%
Deferred Revenue $4.851M $11.83M
YoY Change -59.0% 57.87%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $132.6M $132.6M $130.3M
YoY Change 1.82% 1.82% 22.35%
LONG-TERM LIABILITIES
Long-Term Debt $716.2M $716.2M $739.0M
YoY Change -3.08% -3.08% -9.73%
Other Long-Term Liabilities $25.00M $50.77M $70.45M
YoY Change -64.52% -27.93% 148.76%
Total Long-Term Liabilities $741.2M $767.0M $809.5M
YoY Change -8.43% -5.24% -4.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $132.6M $132.6M $130.3M
Total Long-Term Liabilities $741.2M $767.0M $809.5M
Total Liabilities $920.6M $937.1M $1.005B
YoY Change -8.37% -6.73% 1.49%
SHAREHOLDERS EQUITY
Retained Earnings -$733.4M -$733.0M
YoY Change 0.05% -4.38%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $274.1M $274.1M $333.8M
YoY Change
Total Liabilities & Shareholders Equity $1.211B $1.211B $1.338B
YoY Change -9.51% -9.51% 6.14%

Cashflow Statement

Concept 2023 Q4 2023 2022 Q4
OPERATING ACTIVITIES
Net Income -$10.98M $2.050M $1.713M
YoY Change -741.16% -94.51% -74.06%
Depreciation, Depletion And Amortization $15.55M $7.101M $16.42M
YoY Change -5.31% -87.75% -16.76%
Cash From Operating Activities $21.34M $64.65M $12.99M
YoY Change 64.27% -3.6% -70.39%
INVESTING ACTIVITIES
Capital Expenditures $1.098M $7.676M $1.507M
YoY Change -27.14% 13.5% -171.63%
Acquisitions $27.50M
YoY Change 10.0%
Other Investing Activities $17.12M $103.0M $0.00
YoY Change -570.05%
Cash From Investing Activities $16.03M $95.36M -$1.507M
YoY Change -1163.37% -432.45% -28.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.630M -$57.00K
YoY Change -106.15%
Debt Paid & Issued, Net $22.28M
YoY Change -66.81%
Cash From Financing Activities 0.000 -28.31M -21.65M
YoY Change -100.0% -70.27% 1452.26%
NET CHANGE
Cash From Operating Activities 21.34M 64.65M 12.99M
Cash From Investing Activities 16.03M 95.36M -1.507M
Cash From Financing Activities 0.000 -28.31M -21.65M
Net Change In Cash 37.37M 131.7M -10.17M
YoY Change -467.51% -331.69% -125.18%
FREE CASH FLOW
Cash From Operating Activities $21.34M $64.65M $12.99M
Capital Expenditures $1.098M $7.676M $1.507M
Free Cash Flow $20.24M $56.97M $11.49M
YoY Change 76.26% -5.52% -75.03%

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27764000
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9104000
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18660000
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4980000
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193769000
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25741000
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25298000
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2598132
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3246274
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0
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22970000
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16520000
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193769000
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136826000
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39798000
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176624000
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P3Y
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P3Y
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200000
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10362000
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P5Y11M8D
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P4Y10M6D
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13000000.0
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200000
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13761000
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13978000
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10362000
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P5Y11M8D
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P4Y10M6D
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4148000
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3114000
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14726000
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49087000
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16062000
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13767000
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7658000
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5674000
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4148000
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3114000
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14726000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
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49087000
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16062000
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33025000
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3200000
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496613000
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91767000
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37902000
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50415000
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187991000
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21754000
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159733000
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28661000
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28258000
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6000.0
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6400000
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39690000
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39690000
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39690000
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39690000
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496613000
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91767000
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37902000
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187991000
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21754000
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159733000
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28661000
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28258000
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6000.0
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6400000
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3
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P8Y
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154207000
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223402000
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7240000
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378046000
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P8Y
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223402000
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378046000
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161447000
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161447000
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39690000
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39690000
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72035000
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49104000
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55193000
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P3Y6M
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3700000
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72035000
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P3Y6M
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3700000
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11726000
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23300000
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35520000
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55751000
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29748000
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32600000
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26300000
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17500000
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17200000
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50100000
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4851000
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6123000
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132273000
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122660000
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11726000
CY2022Q4 uone Content Assets In Production
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23300000
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35520000
CY2022Q4 uone Licensed Content Assets Acquired
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55751000
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179519000
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201711000
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67323000
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81330000
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112196000
CY2022Q4 uone Content Assets Current And Non Current
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120381000
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29748000
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34003000
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82448000
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86378000
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32600000
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26300000
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17500000
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17200000
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50100000
CY2022 uone Amortization Of Content Assets
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43500000
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4851000
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4864000
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5708000
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9629000
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1905000
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5090000
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4650000
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3315000
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3685000
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5992000
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1750000
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683000
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947000
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0418
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0279
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y8M8D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7992
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7992
CY2023Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P50Y
CY2023 uone Other Operating Agreement Expiry Term
OtherOperatingAgreementExpiryTerm
P5Y
CY2023Q4 us-gaap Other Commitment Due In Next Twelve Months
OtherCommitmentDueInNextTwelveMonths
13767000
CY2023Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
88778000
CY2023Q4 us-gaap Other Commitment Due In Second Year
OtherCommitmentDueInSecondYear
7658000
CY2023Q4 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
37108000
CY2023Q4 us-gaap Other Commitment Due In Third Year
OtherCommitmentDueInThirdYear
5674000
CY2023Q4 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
14991000
CY2023Q4 us-gaap Other Commitment Due In Fourth Year
OtherCommitmentDueInFourthYear
4148000
CY2023Q4 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
4983000
CY2023Q4 us-gaap Other Commitment Due In Fifth Year
OtherCommitmentDueInFifthYear
3114000
CY2023Q4 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
3560000
CY2023Q4 us-gaap Other Commitment Due After Fifth Year
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14726000
CY2023Q4 us-gaap Contractual Obligation Due After Fifth Year
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9615000
CY2023Q4 us-gaap Other Commitment
OtherCommitment
49087000
CY2023Q4 us-gaap Contractual Obligation
ContractualObligation
159035000
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2023 uone Other Operating Agreement Expiry Term
OtherOperatingAgreementExpiryTerm
P5Y
CY2023Q4 us-gaap Other Commitment Due In Next Twelve Months
OtherCommitmentDueInNextTwelveMonths
13767000
CY2023Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
88778000
CY2023Q4 us-gaap Other Commitment Due In Second Year
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7658000
CY2023Q4 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
37108000
CY2023Q4 us-gaap Other Commitment Due In Third Year
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5674000
CY2023Q4 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
14991000
CY2023Q4 us-gaap Other Commitment Due In Fourth Year
OtherCommitmentDueInFourthYear
4148000
CY2023Q4 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
4983000
CY2023Q4 us-gaap Other Commitment Due In Fifth Year
OtherCommitmentDueInFifthYear
3114000
CY2023Q4 us-gaap Other Commitment Due After Fifth Year
OtherCommitmentDueAfterFifthYear
14726000
CY2023Q4 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
9615000
CY2023Q4 us-gaap Other Commitment
OtherCommitment
49087000
CY2023Q4 us-gaap Contractual Obligation
ContractualObligation
159035000
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2023 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
477690000
CY2022 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
484604000
CY2023 uone Operating Expenses Excluding Depreciation Amortization And Impairment Charges And Including Stock Based Compensation
OperatingExpensesExcludingDepreciationAmortizationAndImpairmentChargesAndIncludingStockBasedCompensation
372882000
CY2022 uone Operating Expenses Excluding Depreciation Amortization And Impairment Charges And Including Stock Based Compensation
OperatingExpensesExcludingDepreciationAmortizationAndImpairmentChargesAndIncludingStockBasedCompensation
342798000
CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
7101000
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
10034000
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
129278000
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
40683000
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
-31571000
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
91089000
CY2023 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
9137000
CY2022 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
7598000
CY2023Q4 us-gaap Assets
Assets
1211173000
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2022 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
484604000
CY2023 uone Operating Expenses Excluding Depreciation Amortization And Impairment Charges And Including Stock Based Compensation
OperatingExpensesExcludingDepreciationAmortizationAndImpairmentChargesAndIncludingStockBasedCompensation
372882000
CY2022 uone Operating Expenses Excluding Depreciation Amortization And Impairment Charges And Including Stock Based Compensation
OperatingExpensesExcludingDepreciationAmortizationAndImpairmentChargesAndIncludingStockBasedCompensation
342798000
CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
7101000
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
10034000
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
129278000
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
40683000
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
-31571000
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
91089000
CY2023 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
9137000
CY2022Q4 us-gaap Assets
Assets
1344646000

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