2019 Q2 Form 10-Q Financial Statement

#000162747519000015 Filed on May 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2019 Q1 2018 Q1
Revenue $73.78M $68.48M $59.22M
YoY Change 17.71% 15.63% 26.81%
Cost Of Revenue $21.59M $21.13M $19.62M
YoY Change 5.53% 7.69% 30.78%
Gross Profit $52.20M $47.35M $39.60M
YoY Change 23.61% 19.57% 24.92%
Gross Profit Margin 70.74% 69.15% 66.87%
Selling, General & Admin $38.54M $36.18M $30.85M
YoY Change 39.48% 17.28% 41.51%
% of Gross Profit 73.84% 76.41% 77.9%
Research & Development $15.70M $15.80M $13.49M
YoY Change 22.51% 17.12% 30.98%
% of Gross Profit 30.07% 33.37% 34.07%
Depreciation & Amortization $600.0K $800.0K $400.0K
YoY Change 20.0% 100.0%
% of Gross Profit 1.15% 1.69% 1.01%
Operating Expenses $55.09M $52.62M $45.61M
YoY Change 31.5% 15.36% 41.65%
Operating Profit -$2.899M -$5.265M -$6.009M
YoY Change -981.16% -12.38% 1101.8%
Interest Expense $357.0K $373.0K $529.0K
YoY Change -35.79% -29.49% -364.5%
% of Operating Profit
Other Income/Expense, Net $832.0K $479.0K -$249.0K
YoY Change -580.92% -292.37% -224.5%
Pretax Income -$2.424M -$5.159M -$6.787M
YoY Change 506.0% -23.99% 1257.4%
Income Tax $27.00K $1.000K -$3.000K
% Of Pretax Income
Net Earnings -$2.451M -$5.160M -$6.784M
YoY Change 494.9% -23.94% 1256.8%
Net Earnings / Revenue -3.32% -7.54% -11.46%
Basic Earnings Per Share
Diluted Earnings Per Share -$23.00K -$48.78K -$65.32K
COMMON SHARES
Basic Shares Outstanding 107.2M shares 106.7M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $129.5M $121.2M
YoY Change 313.74%
Cash & Equivalents $188.0M $171.8M $26.46M
Short-Term Investments $62.40M $72.00M
Other Short-Term Assets $124.9M $126.8M
YoY Change 44.06%
Inventory
Prepaid Expenses
Receivables $51.45M $20.33M
Other Receivables $0.00 $0.00
Total Short-Term Assets $305.8M $296.3M
YoY Change 97.44%
LONG-TERM ASSETS
Property, Plant & Equipment $19.21M $12.60M
YoY Change 220.12%
Goodwill $118.2M $118.2M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $976.0K $1.389M
YoY Change -74.32%
Total Long-Term Assets $143.1M $137.5M
YoY Change 5.67%
TOTAL ASSETS
Total Short-Term Assets $305.8M $296.3M
Total Long-Term Assets $143.1M $137.5M
Total Assets $448.9M $433.8M
YoY Change 54.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.521M $1.542M
YoY Change -19.95%
Accrued Expenses $19.10M $15.60M
YoY Change -43.66%
Deferred Revenue $1.130M $10.83M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $32.57M $32.57M
YoY Change 154.48%
Total Short-Term Liabilities $172.7M $170.7M
YoY Change 32.0%
LONG-TERM LIABILITIES
Long-Term Debt $14.47M $16.35M
YoY Change -31.43%
Other Long-Term Liabilities $4.148M $2.780M
YoY Change 65.92%
Total Long-Term Liabilities $18.62M $19.13M
YoY Change -21.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $172.7M $170.7M
Total Long-Term Liabilities $18.62M $19.13M
Total Liabilities $191.3M $189.8M
YoY Change 23.88%
SHAREHOLDERS EQUITY
Retained Earnings -$150.3M -$148.2M
YoY Change
Common Stock $407.9M $392.2M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $245.0M $231.7M -$35.05M
YoY Change
Total Liabilities & Shareholders Equity $448.9M $433.8M
YoY Change 54.64%

Cashflow Statement

Concept 2019 Q2 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$2.451M -$5.160M -$6.784M
YoY Change 494.9% -23.94% 1256.8%
Depreciation, Depletion And Amortization $600.0K $800.0K $400.0K
YoY Change 20.0% 100.0%
Cash From Operating Activities $1.570M -$29.40M $5.000M
YoY Change -70.93% -687.9%
INVESTING ACTIVITIES
Capital Expenditures -$4.810M $3.604M $462.0K
YoY Change 123.72% 680.09%
Acquisitions
YoY Change
Other Investing Activities $9.940M -$71.71M -$100.0K
YoY Change 71610.0%
Cash From Investing Activities $5.150M -$76.53M -$1.189M
YoY Change -339.53% 6336.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.480M $47.66M $1.055M
YoY Change 485.19% 4417.82%
NET CHANGE
Cash From Operating Activities 1.570M -$29.40M $5.000M
Cash From Investing Activities 5.150M -$76.53M -$1.189M
Cash From Financing Activities 9.480M $47.66M $1.055M
Net Change In Cash 16.20M -$58.26M $4.866M
YoY Change 232.65% -1297.27%
FREE CASH FLOW
Cash From Operating Activities $1.570M -$29.40M $5.000M
Capital Expenditures -$4.810M $3.604M $462.0K
Free Cash Flow $6.380M -$33.00M $4.538M
YoY Change -15.5% -827.17%

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1 segment
CY2019Q1 us-gaap Number Of Reportable Segments
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-6009000 USD
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1000000 USD
CY2019Q1 us-gaap Operating Lease Cost
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1200000 USD
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822000 USD
CY2019Q1 us-gaap Other Accrued Liabilities Current
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1989000 USD
CY2019Q1 us-gaap Other Liabilities Noncurrent
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2780000 USD
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-249000 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
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0 USD
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462000 USD
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626000 USD
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1210000 USD
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6253000 USD
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0 USD
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-6784000 USD
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15800000 USD
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59218000 USD
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196343 shares
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CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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23304831 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.71
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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3.72
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.81
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.63
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M6D
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y10M10D
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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273105 shares
CY2018Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1218000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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767000 USD
CY2017Q4 us-gaap Stockholders Equity
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CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
243745000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
243972000 USD
CY2017Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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166486000 USD
CY2018Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
166486000 USD
CY2018Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0 USD
CY2019Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0 USD
CY2018Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
0 shares
CY2019Q1 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
0 shares
CY2017Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
61279079 shares
CY2018Q1 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
61279079 shares
CY2018Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0 shares
CY2019Q1 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0 shares
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34192856 shares
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34193000 shares
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
106639079 shares
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
106639000 shares
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the periods presented. Such estimates include, but are not limited to: the useful lives of assets; assessment of the recoverability of long-lived assets; goodwill impairment; allowance for doubtful accounts; liabilities relating to transaction losses; the valuation of warrants; stock-based compensation; and accounting for income taxes. Management bases its estimates on historical experience and on various other assumptions that management believes to be reasonable under the circumstances. The Company evaluates its estimates, assumptions, and judgments on an ongoing basis using historical experience and other factors and revises them when facts and circumstances dictate. Actual results could materially differ from these estimates.</font></div></div>

Files In Submission

Name View Source Status
0001627475-19-000015-index-headers.html Edgar Link pending
0001627475-19-000015-index.html Edgar Link pending
0001627475-19-000015.txt Edgar Link pending
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