2021 Q1 Form 10-Q Financial Statement

#000134717821000015 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $62.67M $58.00M
YoY Change 8.05% 21.56%
Cost Of Revenue $6.030M $5.210M
YoY Change 15.74% 1.9%
Gross Profit $56.64M $52.42M
YoY Change 8.04% 24.17%
Gross Profit Margin 90.38% 90.38%
Selling, General & Admin $29.80M $37.02M
YoY Change -19.51% 19.31%
% of Gross Profit 52.61% 70.62%
Research & Development $16.13M $15.53M
YoY Change 3.89% 16.94%
% of Gross Profit 28.48% 29.62%
Depreciation & Amortization $345.0K $351.0K
YoY Change -1.71% 5.72%
% of Gross Profit 0.61% 0.67%
Operating Expenses $45.93M $52.55M
YoY Change -12.6% 18.6%
Operating Profit $10.34M -$125.0K
YoY Change -8372.8% -94.01%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $90.00K $1.370M
YoY Change -93.43% -8.05%
Pretax Income $10.43M $1.241M
YoY Change 740.29% -306.15%
Income Tax $1.800M $800.0K
% Of Pretax Income 17.26% 64.46%
Net Earnings $8.650M $486.0K
YoY Change 1679.84% -179.41%
Net Earnings / Revenue 13.8% 0.84%
Basic Earnings Per Share $0.16 $0.01
Diluted Earnings Per Share $0.15 $0.01
COMMON SHARES
Basic Shares Outstanding 55.15M shares 53.81M shares
Diluted Shares Outstanding 56.51M shares 54.87M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $378.2M $312.3M
YoY Change 21.08% 16.61%
Cash & Equivalents $72.13M $64.95M
Short-Term Investments $306.0M $247.4M
Other Short-Term Assets $10.30M $17.80M
YoY Change -42.13% 58.93%
Inventory $1.361M $1.320M
Prepaid Expenses
Receivables $31.47M $29.27M
Other Receivables $0.00 $0.00
Total Short-Term Assets $421.2M $360.7M
YoY Change 16.76% 17.7%
LONG-TERM ASSETS
Property, Plant & Equipment $3.840M $3.877M
YoY Change -0.95% -9.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $86.70M $90.40M
YoY Change -4.09% 2052.38%
Total Long-Term Assets $122.0M $127.8M
YoY Change -4.55% 186.06%
TOTAL ASSETS
Total Short-Term Assets $421.2M $360.7M
Total Long-Term Assets $122.0M $127.8M
Total Assets $543.2M $488.5M
YoY Change 11.19% 39.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.300M $4.900M
YoY Change 8.16% 6.52%
Accrued Expenses $56.10M $21.10M
YoY Change 165.88% -61.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $61.78M $59.22M
YoY Change 4.33% -0.09%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.655M $778.0K
YoY Change 241.26% 380.25%
Total Long-Term Liabilities $2.655M $778.0K
YoY Change 241.26% 380.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $61.78M $59.22M
Total Long-Term Liabilities $2.655M $778.0K
Total Liabilities $75.56M $72.14M
YoY Change 4.75% -0.85%
SHAREHOLDERS EQUITY
Retained Earnings -$188.7M -$220.2M
YoY Change -14.31% -34.63%
Common Stock $656.1M $635.8M
YoY Change 3.2% 3.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $467.6M $416.4M
YoY Change
Total Liabilities & Shareholders Equity $543.2M $488.5M
YoY Change 11.19% 39.12%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $8.650M $486.0K
YoY Change 1679.84% -179.41%
Depreciation, Depletion And Amortization $345.0K $351.0K
YoY Change -1.71% 5.72%
Cash From Operating Activities $9.193M -$907.0K
YoY Change -1113.56% -109.41%
INVESTING ACTIVITIES
Capital Expenditures $130.0K $373.0K
YoY Change -65.15% -5.09%
Acquisitions
YoY Change
Other Investing Activities $200.0K $20.70M
YoY Change -99.03% -157.34%
Cash From Investing Activities $71.00K $20.30M
YoY Change -99.65% -155.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $1.849M $479.0K
YoY Change 286.01% 167.6%
NET CHANGE
Cash From Operating Activities $9.193M -$907.0K
Cash From Investing Activities $71.00K $20.30M
Cash From Financing Activities $1.849M $479.0K
Net Change In Cash $11.10M $19.88M
YoY Change -44.17% -174.65%
FREE CASH FLOW
Cash From Operating Activities $9.193M -$907.0K
Capital Expenditures $130.0K $373.0K
Free Cash Flow $9.063M -$1.280M
YoY Change -808.05% -113.84%

Facts In Submission

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NetCashProvidedByUsedInFinancingActivities
1849000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
479000 USD
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-15000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
11098000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
19877000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61613000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45650000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
72711000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
65527000 USD
CY2021Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates that affect the reported amounts of assets and liabilities at the date of the financial statements, disclosure of contingent assets and liabilities, and the reported amounts of revenue and expenses during the reporting period. Management continually re-evaluates its estimates, judgments and assumptions, and management’s evaluation could change. Actual results could differ from those estimates.</span></div>
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
72132000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
64950000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
72711000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
65527000 USD
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
400000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
62669000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
58000000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
305824000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
213000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
7000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
306030000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
306504000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
216000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
11000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
306709000 USD
CY2021Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
306030000 USD
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
306709000 USD
CY2021Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
207000 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
66000 USD
CY2021Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1154000 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1214000 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
1361000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
1280000 USD
CY2021Q1 vnda Inventory Raw Materials Net Of Reserves Non Current
InventoryRawMaterialsNetOfReservesNonCurrent
742000 USD
CY2020Q4 vnda Inventory Raw Materials Net Of Reserves Non Current
InventoryRawMaterialsNetOfReservesNonCurrent
744000 USD
CY2021Q1 vnda Inventory Work In Process Net Of Reserves Non Current
InventoryWorkInProcessNetOfReservesNonCurrent
3905000 USD
CY2020Q4 vnda Inventory Work In Process Net Of Reserves Non Current
InventoryWorkInProcessNetOfReservesNonCurrent
4045000 USD
CY2021Q1 vnda Inventory Finished Goods Net Of Reserves Non Current
InventoryFinishedGoodsNetOfReservesNonCurrent
303000 USD
CY2020Q4 vnda Inventory Finished Goods Net Of Reserves Non Current
InventoryFinishedGoodsNetOfReservesNonCurrent
302000 USD
CY2021Q1 us-gaap Inventory Noncurrent
InventoryNoncurrent
4950000 USD
CY2020Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
5091000 USD
CY2021Q1 vnda Inventory
Inventory
6311000 USD
CY2020Q4 vnda Inventory
Inventory
6371000 USD
CY2020Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
400000 USD
CY2021Q1 vnda Agreements For Clinical And Marketing Services Termination Notice Period
AgreementsForClinicalAndMarketingServicesTerminationNoticePeriod
P90D
CY2021Q1 vnda Accrued Research And Development Expense
AccruedResearchAndDevelopmentExpense
7231000 USD
CY2020Q4 vnda Accrued Research And Development Expense
AccruedResearchAndDevelopmentExpense
6173000 USD
CY2021Q1 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
5318000 USD
CY2020Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
5817000 USD
CY2021Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
5164000 USD
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
5052000 USD
CY2021Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4113000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
10951000 USD
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2126000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2117000 USD
CY2021Q1 vnda Accrued Milestone Obligations Under License Agreements
AccruedMilestoneObligationsUnderLicenseAgreements
350000 USD
CY2020Q4 vnda Accrued Milestone Obligations Under License Agreements
AccruedMilestoneObligationsUnderLicenseAgreements
350000 USD
CY2021Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
1803000 USD
CY2020Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
1049000 USD
CY2021Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
26105000 USD
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
31509000 USD
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
34000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
81000 USD
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
158000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
158000 USD
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
192000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
239000 USD
CY2021Q1 vnda Share Based Compensation Option Awards Contractual Term
ShareBasedCompensationOptionAwardsContractualTerm
P10Y
CY2021Q1 vnda Share Based Compensation Arrangementby Share Based Payment Annual Award Vesting Period Employeesand New Directors
ShareBasedCompensationArrangementbyShareBasedPaymentAnnualAwardVestingPeriodEmployeesandNewDirectors
P4Y
CY2021Q1 vnda Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Share Subject To Option Awards
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfShareSubjectToOptionAwards
0.25
CY2021Q1 vnda Share Based Compensation Arrangement By Share Based Payment Award Remaining Percentage Of Share Subject To Option Awards
ShareBasedCompensationArrangementByShareBasedPaymentAwardRemainingPercentageOfShareSubjectToOptionAwards
0.75
CY2021Q1 vnda Sharebased Compensation Arrangementby Share Based Payment Award Options Vesting Period Number Of Equal Monthly Installments
SharebasedCompensationArrangementbyShareBasedPaymentAwardOptionsVestingPeriodNumberOfEqualMonthlyInstallments
36 installment
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.95
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.73
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1800000 USD
CY2020Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
500000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3909000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3944000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.46
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.52
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M23D
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M2D
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0073
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0137
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1800000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
800000 USD
CY2021Q1 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-300000 USD
CY2020Q1 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
400000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
8650000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
486000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55145789 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53806317 shares
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1359298 shares
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1063829 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56505087 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54870146 shares
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.16
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2137110 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3095224 shares

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