2021 Q2 Form 10-Q Financial Statement
#000156459021032476 Filed on June 10, 2021
Income Statement
Concept | 2021 Q2 | 2020 Q2 |
---|---|---|
Revenue | $57.53M | $39.02M |
YoY Change | 47.45% | -47.29% |
Cost Of Revenue | $32.05M | $23.02M |
YoY Change | 39.24% | -36.28% |
Gross Profit | $25.48M | $16.00M |
YoY Change | 59.27% | -57.77% |
Gross Profit Margin | 44.29% | 41.01% |
Selling, General & Admin | $32.58M | $38.54M |
YoY Change | -15.46% | -12.64% |
% of Gross Profit | 127.87% | 240.9% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $1.638M | $1.998M |
YoY Change | -18.02% | -26.89% |
% of Gross Profit | 6.43% | 12.49% |
Operating Expenses | $32.58M | $38.54M |
YoY Change | -15.46% | -12.64% |
Operating Profit | -$7.101M | -$49.42M |
YoY Change | -85.63% | 693.1% |
Interest Expense | -$1.878M | $1.025M |
YoY Change | -283.22% | -24.58% |
% of Operating Profit | ||
Other Income/Expense, Net | $2.307M | |
YoY Change | -2197.27% | |
Pretax Income | -$8.979M | -$48.14M |
YoY Change | -81.35% | 525.14% |
Income Tax | $2.643M | $42.00K |
% Of Pretax Income | ||
Net Earnings | -$11.62M | -$48.18M |
YoY Change | -75.88% | 521.89% |
Net Earnings / Revenue | -20.2% | -123.48% |
Basic Earnings Per Share | -$0.98 | -$4.12 |
Diluted Earnings Per Share | -$983.9K | -$4.120M |
COMMON SHARES | ||
Basic Shares Outstanding | 11.81M | |
Diluted Shares Outstanding | 11.81M |
Balance Sheet
Concept | 2021 Q2 | 2020 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $1.370M | $26.70M |
YoY Change | -94.87% | 26600.0% |
Cash & Equivalents | $1.370M | $26.65M |
Short-Term Investments | ||
Other Short-Term Assets | $5.918M | $4.100M |
YoY Change | 44.34% | -47.44% |
Inventory | $71.75M | $67.34M |
Prepaid Expenses | ||
Receivables | $26.83M | $16.52M |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $105.9M | $114.6M |
YoY Change | -7.61% | 54.83% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $107.7M | $19.90M |
YoY Change | 441.18% | -80.92% |
Goodwill | $31.97M | |
YoY Change | ||
Intangibles | $76.98M | |
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $3.957M | $5.386M |
YoY Change | -26.53% | 63.21% |
Total Long-Term Assets | $220.0M | $216.2M |
YoY Change | 1.72% | -4.07% |
TOTAL ASSETS | ||
Total Short-Term Assets | $105.9M | $114.6M |
Total Long-Term Assets | $220.0M | $216.2M |
Total Assets | $325.8M | $330.8M |
YoY Change | -1.51% | 10.49% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $42.34M | $31.65M |
YoY Change | 33.79% | 46.51% |
Accrued Expenses | $42.80M | $43.30M |
YoY Change | -1.16% | 45.3% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | $687.0K | $2.750M |
YoY Change | -75.02% | -1.79% |
Total Short-Term Liabilities | $85.83M | $77.70M |
YoY Change | 10.46% | 43.62% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $85.29M | $84.65M |
YoY Change | 0.75% | 103.97% |
Other Long-Term Liabilities | $95.44M | $187.0K |
YoY Change | 50938.5% | -99.86% |
Total Long-Term Liabilities | $85.29M | $84.83M |
YoY Change | 0.53% | -52.5% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $85.83M | $77.70M |
Total Long-Term Liabilities | $85.29M | $84.83M |
Total Liabilities | $171.1M | $162.5M |
YoY Change | 5.28% | -30.15% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$1.055B | |
YoY Change | ||
Common Stock | $1.138B | |
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $54.96M | $82.90M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $325.8M | $330.8M |
YoY Change | -1.51% | 10.49% |
Cashflow Statement
Concept | 2021 Q2 | 2020 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$11.62M | -$48.18M |
YoY Change | -75.88% | 521.89% |
Depreciation, Depletion And Amortization | $1.638M | $1.998M |
YoY Change | -18.02% | -26.89% |
Cash From Operating Activities | -$2.794M | -$8.780M |
YoY Change | -68.18% | -353.32% |
INVESTING ACTIVITIES | ||
Capital Expenditures | -$476.0K | -$700.0K |
YoY Change | -32.0% | -2.78% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | ||
YoY Change | ||
Cash From Investing Activities | -$476.0K | -$695.0K |
YoY Change | -31.51% | -3.47% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 815.0K | 35.67M |
YoY Change | -97.72% | -1942.61% |
NET CHANGE | ||
Cash From Operating Activities | -2.794M | -8.780M |
Cash From Investing Activities | -476.0K | -695.0K |
Cash From Financing Activities | 815.0K | 35.67M |
Net Change In Cash | -2.455M | 26.20M |
YoY Change | -109.37% | 3134.32% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$2.794M | -$8.780M |
Capital Expenditures | -$476.0K | -$700.0K |
Free Cash Flow | -$2.318M | -$8.080M |
YoY Change | -71.31% | -293.02% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2021Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-8979000 | |
CY2021Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
2643000 | |
CY2021Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
7000 | |
CY2021Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.98 | |
CY2021Q2 | us-gaap |
Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
|
4297000 | |
CY2021Q2 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
85286000 | |
CY2021Q2 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
94242000 | |
CY2021Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
85826000 | |
CY2020Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-48178000 | |
CY2020Q2 | vnce |
Adjustment To Tax Receivable Agreement Liability
AdjustmentToTaxReceivableAgreementLiability
|
2320000 | |
CY2020Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1998000 | |
CY2021Q2 | vnce |
Provision For Bad Debts
ProvisionForBadDebts
|
-19000 | |
CY2020Q2 | vnce |
Provision For Bad Debts
ProvisionForBadDebts
|
1585000 | |
CY2021Q2 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
170000 | |
CY2020Q2 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
133000 | |
CY2021Q2 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
2609000 | |
CY2020Q2 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
102000 | |
CY2021Q2 | us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
636000 | |
CY2021Q2 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
63236000 | |
CY2020Q2 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
81878000 | |
CY2021Q2 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
62462000 | |
CY2020Q2 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
46001000 | |
CY2021Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
815000 | |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-2455000 | |
CY2021Q2 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
9000 | |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
3858000 | |
CY2021Q2 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
42000 | |
CY2021Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1638000 | |
CY2021Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
331000 | |
CY2021Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-11622000 | |
CY2021Q2 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
8000 | |
CY2021Q2 | us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
49000 | |
CY2020Q2 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
1000 | |
CY2020Q2 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
205000 | |
CY2020Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
82898000 | |
CY2020Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
26654000 | |
CY2021Q2 | us-gaap |
Interest Paid Net
InterestPaidNet
|
1078000 | |
CY2021Q2 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
8000 | |
CY2021Q2 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
80000 | |
CY2021Q2 | vnce |
Deferred Financing Fees In Accrued Liabilities
DeferredFinancingFeesInAccruedLiabilities
|
30000 | |
CY2021 | us-gaap |
Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
|
13848000 | |
CY2021Q2 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
1526000 | |
CY2021Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
1618000 | |
CY2021Q2 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
88000 | |
CY2021Q2 | us-gaap |
Change In Accounting Principle Accounting Standards Update Adopted
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|
true | |
CY2021Q2 | us-gaap |
Change In Accounting Principle Accounting Standards Update Adoption Date
ChangeInAccountingPrincipleAccountingStandardsUpdateAdoptionDate
|
2021-01-31 | |
CY2021Q2 | us-gaap |
Change In Accounting Principle Accounting Standards Update Immaterial Effect
ChangeInAccountingPrincipleAccountingStandardsUpdateImmaterialEffect
|
true | |
CY2021Q2 | us-gaap |
Accounting Standards Update Extensible List
AccountingStandardsUpdateExtensibleList
|
us-gaap:AccountingStandardsUpdate201912Member | |
CY2020Q2 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
9462000 | |
CY2020Q2 | us-gaap |
Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
|
8556000 | |
CY2021Q1 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
85897000 | |
CY2021Q2 | us-gaap |
Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
|
1334000 | |
CY2021Q1 | us-gaap |
Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
|
1412000 | |
CY2020Q2 | us-gaap |
Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
|
0.00 | |
CY2021Q2 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
71745000 | |
CY2021Q1 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
68226000 | |
CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
58 | |
CY2021Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
58 | |
CY2021Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
58 | |
CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
38.77 | |
CY2021Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
38.77 | |
CY2021Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
38.77 | |
CY2021 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P4Y8M12D | |
CY2021Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
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CY2021Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P4Y4M24D | |
CY2020Q3 | us-gaap |
Loss Contingency Claims Dismissed Number
LossContingencyClaimsDismissedNumber
|
2 | |
CY2021Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.294 | |
CY2021 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.001 | |
CY2021Q2 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | |
CY2021Q2 | vnce |
Provision For Income Taxes Included Correction Of Error Related To State Tax Impact Of Non Cash Deferred Tax Expense
ProvisionForIncomeTaxesIncludedCorrectionOfErrorRelatedToStateTaxImpactOfNonCashDeferredTaxExpense
|
882000 | |
CY2021Q2 | us-gaap |
Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
|
P10Y | |
CY2021Q2 | us-gaap |
Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
|
The Company leases various office spaces, showrooms and retail stores. Although the Company’s more recent leases are subject to shorter terms as a result of the implementation of the strategy to pursue shorter lease terms, many of the Company’s leases have initial terms of 10 years, and in many instances can be extended for an additional term. | |
CY2021Q2 | us-gaap |
Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
|
true | |
CY2021Q2 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
6274000 | |
CY2020Q2 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
6488000 | |
CY2021Q2 | vnce |
Variable Lease Cost Income
VariableLeaseCostIncome
|
142000 | |
CY2020Q2 | vnce |
Variable Lease Cost Income
VariableLeaseCostIncome
|
33000 | |
CY2021Q2 | us-gaap |
Lease Cost
LeaseCost
|
6416000 | |
CY2020Q2 | us-gaap |
Lease Cost
LeaseCost
|
6521000 | |
CY2021Q2 | us-gaap |
Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
|
0 | |
CY2021Q2 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
22343000 | |
CY2021Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
28484000 | |
CY2021Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
26268000 | |
CY2021Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
24186000 | |
CY2021Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
14863000 | |
CY2021Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
138802000 | |
CY2021Q2 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
21263000 | |
CY2021Q2 | vnce |
Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
|
22658000 | |
CY2021Q2 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
117539000 | |
CY2021Q2 | vnce |
Lessee Operating Lease Future Minimum Payment Lease Not Yet Commenced
LesseeOperatingLeaseFutureMinimumPaymentLeaseNotYetCommenced
|
4665000 | |
CY2021Q2 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | |
CY2020Q2 | vnce |
Adjustment To Tax Receivable Agreement Obligation
AdjustmentToTaxReceivableAgreementObligation
|
2320000 |