2023 Q4 Form 10-K Financial Statement

#000183768624000021 Filed on February 22, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $105.5M $417.2M
YoY Change -0.02% -3.65%
Cost Of Revenue $23.26M $91.58M
YoY Change -5.9% -11.6%
Gross Profit $82.29M $325.6M
YoY Change 1.78% -1.15%
Gross Profit Margin 77.96% 78.05%
Selling, General & Admin $49.58M $200.7M
YoY Change -21.1% -27.66%
% of Gross Profit 60.25% 61.63%
Research & Development $25.99M $107.1M
YoY Change 12.31% -16.13%
% of Gross Profit 31.58% 32.88%
Depreciation & Amortization $1.146M $1.997M
YoY Change -16.84% -9.14%
% of Gross Profit 1.39% 0.61%
Operating Expenses $76.71M $312.6M
YoY Change -12.18% -24.2%
Operating Profit $5.574M $13.05M
YoY Change -185.7% -115.73%
Interest Expense $3.627M $11.90M
YoY Change -3025.0% 125.91%
% of Operating Profit 65.07% 91.22%
Other Income/Expense, Net $12.86M
YoY Change 123.14%
Pretax Income $9.201M $24.91M
YoY Change -301.07% -132.07%
Income Tax $806.0K $2.879M
% Of Pretax Income 8.76% 11.56%
Net Earnings $8.395M $22.03M
YoY Change -264.13% -127.68%
Net Earnings / Revenue 7.95% 5.28%
Basic Earnings Per Share $0.13
Diluted Earnings Per Share $0.05 $0.13
COMMON SHARES
Basic Shares Outstanding 163.2M shares
Diluted Shares Outstanding 165.3M shares

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $301.4M $301.4M
YoY Change 9.79% 9.79%
Cash & Equivalents $301.4M $301.4M
Short-Term Investments
Other Short-Term Assets $9.096M $23.49M
YoY Change 54.38% 27.7%
Inventory
Prepaid Expenses $14.40M
Receivables $26.61M $26.61M
Other Receivables $0.00 $0.00
Total Short-Term Assets $351.5M $351.5M
YoY Change 8.37% 8.37%
LONG-TERM ASSETS
Property, Plant & Equipment $607.0K $13.40M
YoY Change -55.2% -33.34%
Goodwill $245.4M
YoY Change 0.0%
Intangibles $2.629M
YoY Change -51.92%
Long-Term Investments
YoY Change
Other Assets $22.81M $10.02M
YoY Change -21.01% -1.09%
Total Long-Term Assets $271.5M $271.5M
YoY Change -3.43% -3.43%
TOTAL ASSETS
Total Short-Term Assets $351.5M $351.5M
Total Long-Term Assets $271.5M $271.5M
Total Assets $622.9M $622.9M
YoY Change 2.89% 2.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.696M $4.696M
YoY Change -92.84% -44.19%
Accrued Expenses $53.57M $53.57M
YoY Change -6.26% -6.26%
Deferred Revenue $168.6M
YoY Change 0.73%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $226.9M $226.9M
YoY Change -2.61% -2.61%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.81M $13.81M
YoY Change -25.83% -25.83%
Total Long-Term Liabilities $13.81M $13.81M
YoY Change -25.83% -25.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $226.9M $226.9M
Total Long-Term Liabilities $13.81M $13.81M
Total Liabilities $240.7M $240.7M
YoY Change -4.33% -4.33%
SHAREHOLDERS EQUITY
Retained Earnings -$393.3M
YoY Change -5.3%
Common Stock $774.6M
YoY Change 0.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $382.2M $382.2M
YoY Change
Total Liabilities & Shareholders Equity $622.9M $622.9M
YoY Change 2.89% 2.89%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $8.395M $22.03M
YoY Change -264.13% -127.68%
Depreciation, Depletion And Amortization $1.146M $1.997M
YoY Change -16.84% -9.14%
Cash From Operating Activities $9.985M $37.79M
YoY Change 492.58% -201.93%
INVESTING ACTIVITIES
Capital Expenditures -$2.000K $108.0K
YoY Change -101.52% -86.53%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$1.000K $639.0K
YoY Change
Cash From Investing Activities $1.000K $531.0K
YoY Change -100.76% -36.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -95.00K -$11.70M
YoY Change 955.56% 10.46%
NET CHANGE
Cash From Operating Activities 9.985M $37.79M
Cash From Investing Activities 1.000K $531.0K
Cash From Financing Activities -95.00K -$11.70M
Net Change In Cash 9.891M $26.60M
YoY Change 540.61% -155.99%
FREE CASH FLOW
Cash From Operating Activities $9.985M $37.79M
Capital Expenditures -$2.000K $108.0K
Free Cash Flow $9.987M $37.68M
YoY Change 543.08% -199.48%

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<div style="margin-bottom:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Accounting Estimates</span></div><div style="text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Management of Vimeo is required to make certain estimates, judgments and assumptions during the preparation of its consolidated financial statements in accordance with GAAP that affect the amounts reported in the accompanying consolidated financial statements and footnotes thereto. Actual results could differ from these estimates.</span></div><div style="text-indent:22.5pt"><span><br/></span></div><div style="text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Significant estimates and judgments inherent in the preparation of the accompanying consolidated financial statements include those related to: the carrying value of accounts receivable, including the determination of the allowance for credit losses; the determination of the estimated customer relationship period for certain costs to obtain a contract with a customer; the carrying value of right-of-use assets ("ROU assets") and related lease liabilities; the useful lives and recoverability of intangible assets with definite lives; the recoverability of goodwill; contingencies; unrecognized tax benefits; the valuation allowance for deferred income tax assets; and the fair value of and forfeiture rates for stock-based awards, among others. Vimeo bases its estimates, judgments and assumptions on historical experience, its forecasts and budgets and other factors that Vimeo considers relevant.</span></div>
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100000000 usd
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CY2022 us-gaap Income Tax Reconciliation Deductions
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CY2021 us-gaap Income Tax Reconciliation Deductions
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CY2023 vmeo Effective Income Tax Rate Reconciliation Return To Provision Amount
EffectiveIncomeTaxRateReconciliationReturnToProvisionAmount
2283000 usd
CY2022 vmeo Effective Income Tax Rate Reconciliation Return To Provision Amount
EffectiveIncomeTaxRateReconciliationReturnToProvisionAmount
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GainLossOnSaleOfBusiness
10151000 usd
CY2023 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 usd
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5000 usd
CY2021 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
9000 usd
CY2023 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
12862000 usd
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
5764000 usd
CY2021 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
10241000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
151000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
203000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
5064000 usd
CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
1434000 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
1336000 usd
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
801000 usd
CY2023 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
125000 usd
CY2022 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
123000 usd
CY2021 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
62000 usd
CY2023Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.11
CY2022Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.06
CY2023 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
4900000 usd
CY2022 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
4200000 usd
CY2023 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
4888000 usd
CY2022 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
4183000 usd
CY2023 dei Auditor Name
AuditorName
Ernst & Young LLP
CY2023 dei Auditor Firm
AuditorFirmId
42

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