2024 Q4 Form 10-Q Financial Statement

#000116638824000176 Filed on December 04, 2024

View on sec.gov

Income Statement

Concept 2024 Q4
Revenue $224.2M
YoY Change 2.58%
Cost Of Revenue $65.57M
YoY Change 0.04%
Gross Profit $158.6M
YoY Change 3.67%
Gross Profit Margin 70.75%
Selling, General & Admin $95.99M
YoY Change 9.23%
% of Gross Profit 60.51%
Research & Development $37.74M
YoY Change 17.62%
% of Gross Profit 23.79%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $136.9M
YoY Change 8.38%
Operating Profit $21.75M
YoY Change -18.6%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$3.407M
YoY Change 278.56%
Pretax Income $18.30M
YoY Change -29.07%
Income Tax -$10.70M
% Of Pretax Income -58.47%
Net Earnings $28.72M
YoY Change 127.69%
Net Earnings / Revenue 12.81%
Basic Earnings Per Share $0.40
Diluted Earnings Per Share $0.39
COMMON SHARES
Basic Shares Outstanding 62.14M shares
Diluted Shares Outstanding 62.80M shares

Balance Sheet

Concept 2024 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $182.8M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $13.75M
Prepaid Expenses
Receivables $152.9M
Other Receivables
Total Short-Term Assets $510.3M
YoY Change 1.32%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $1.405B
YoY Change 4.57%
Intangibles $85.15M
YoY Change 32.59%
Long-Term Investments
YoY Change
Other Assets $171.1M
YoY Change 16.21%
Total Long-Term Assets $1.738B
YoY Change 6.56%
TOTAL ASSETS
Total Short-Term Assets $510.3M
Total Long-Term Assets $1.738B
Total Assets $2.248B
YoY Change 5.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.44M
YoY Change 28.26%
Accrued Expenses $128.4M
YoY Change 16.45%
Deferred Revenue $230.1M
YoY Change -3.17%
Short-Term Debt
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $387.0M
YoY Change 4.56%
LONG-TERM LIABILITIES
Long-Term Debt $412.2M
YoY Change 0.43%
Other Long-Term Liabilities $89.16M
YoY Change 29.49%
Total Long-Term Liabilities $501.4M
YoY Change 4.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $387.0M
Total Long-Term Liabilities $501.4M
Total Liabilities $930.2M
YoY Change 4.17%
SHAREHOLDERS EQUITY
Retained Earnings $33.09M
YoY Change -193.39%
Common Stock $62.00K
YoY Change -1.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $879.1M
YoY Change
Total Liabilities & Shareholders Equity $2.248B
YoY Change 5.33%

Cashflow Statement

Concept 2024 Q4
OPERATING ACTIVITIES
Net Income $28.72M
YoY Change 127.69%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<div><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><span><br/></span></div><div><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 our management to make estimates and assumptions, which may affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Key estimates in the accompanying condensed consolidated financial statements include, among others, revenue recognition, allowances for doubtful accounts, determining the fair value of assets and liabilities assumed in business combinations, recoverability of goodwill, amortization of intangibles, evaluation of contingencies, and the accounting for income taxes. Actual results could differ from those estimates.</span></div>
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CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2023Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2024Q4 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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CY2023Q4 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2024Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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CY2024Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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CY2024Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2023Q4 us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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24080000 usd
CY2024Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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us-gaap Impairment Of Intangible Assets Finitelived
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CY2024Q1 us-gaap Goodwill
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us-gaap Goodwill Acquired During Period
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CY2024Q4 us-gaap Goodwill
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56043000 usd
CY2024Q4 us-gaap Goodwill
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CY2024Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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CY2024Q4 us-gaap Long Term Debt
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CY2024Q1 us-gaap Long Term Debt
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CY2024Q4 us-gaap Long Term Debt Noncurrent
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CY2024Q1 us-gaap Long Term Debt Noncurrent
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CY2024Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
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CY2024Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
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CY2024Q1 us-gaap Inventory Work In Process Net Of Reserves
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CY2024Q4 us-gaap Inventory Finished Goods Net Of Reserves
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CY2024Q1 us-gaap Inventory Finished Goods Net Of Reserves
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CY2024Q4 us-gaap Inventory Net
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CY2024Q1 us-gaap Inventory Net
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CY2024Q1 us-gaap Liability For Uncertain Tax Positions Noncurrent
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CY2024Q1 us-gaap Other Sundry Liabilities Noncurrent
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14290000 usd
CY2024Q4 us-gaap Other Liabilities Noncurrent
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CY2024Q1 us-gaap Other Liabilities Noncurrent
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CY2024Q4 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2023Q4 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2023Q4 vrnt Other Nonoperating Income Expense Miscellaneous
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us-gaap Income Taxes Paid Net
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vrnt Finance Lease Of Property And Equipment Non Cash Activities
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Liabilities Assumed1
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us-gaap Liabilities Assumed1
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vrnt Excise Tax On Share Repurchases
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vrnt Excise Tax On Share Repurchases
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CY2024Q1 us-gaap Dividends Payable Current And Noncurrent
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CY2024Q4 vrnt Dividends Preferred Stock Unpaid And Undeclared
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5300000 usd
CY2024Q4 us-gaap Dividends Payable Current And Noncurrent
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CY2024Q4 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2023Q4 us-gaap Preferred Stock Dividends Income Statement Impact
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us-gaap Preferred Stock Dividends Income Statement Impact
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CY2024Q4 us-gaap Preferred Stock Convertible Shares Issuable
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CY2023Q2 vrnt Convertible Preferred Stock Mandatory Conversion Term Threshold Of Trading Days
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CY2023Q2 vrnt Convertible Preferred Stock Threshold Percentage Of Conversion Trigger
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CY2023Q2 vrnt Convertible Preferred Stock Threshold Percentage Of Conversion Trigger
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CY2020Q2 vrnt Convertible Preferred Stock Redemption Price As Percentage Of Liquidation Preference
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1
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CY2020Q2 vrnt Future Tranche Right Fair Value Disclosure
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us-gaap Dividends Common Stock
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us-gaap Dividends Common Stock
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CY2024Q3 srt Stock Repurchase Program Authorized Amount1
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2024Q4 us-gaap Income Tax Expense Benefit
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CY2024Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2024Q4 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q4 us-gaap Income Tax Expense Benefit
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CY2023Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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25800000 usd
CY2023Q4 us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Income Tax Expense Benefit
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2024Q4 us-gaap Unrecognized Tax Benefits
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CY2024Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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7600000 usd
CY2024Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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CY2024Q4 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
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CY2024Q1 vrnt Sale Of Business Agreement Terms Period Following Transaction Closing Date
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CY2023Q1 vrnt Simple Agreement For Future Equity Investment During Period
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CY2023Q3 vrnt Simple Agreement For Future Equity Investment During Period
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CY2024Q1 vrnt Simple Agreement For Future Equity Investment During Period
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CY2024Q1 vrnt Simple Agreement For Future Equity Investment Amount
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CY2024Q1 vrnt Simple Agreement For Future Equity Investment Amount
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vrnt Asset At Fair Value Changes In Fair Value Resulting From Remeasurement Based On Observable Transaction
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us-gaap Equity Securities Fv Ni Unrealized Loss
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CY2024Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
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us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
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CY2024Q4 us-gaap Derivative Fair Value Of Derivative Asset
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CY2024Q1 us-gaap Derivative Fair Value Of Derivative Asset
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CY2024Q4 us-gaap Derivative Fair Value Of Derivative Liability
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CY2024Q1 us-gaap Derivative Fair Value Of Derivative Liability
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CY2024Q4 us-gaap Allocated Share Based Compensation Expense
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CY2023Q4 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2024Q4 us-gaap Allocated Share Based Compensation Expense
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CY2023Q4 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
43.29
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
45.53
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
202000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
43.00
CY2024Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
3479000 shares
CY2024Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
33.78
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
2890000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
44.44
CY2023Q1 us-gaap Estimated Insurance Recoveries
EstimatedInsuranceRecoveries
14500000 usd
CY2023 us-gaap Insurance Recoveries
InsuranceRecoveries
2000000.0 usd
CY2024 us-gaap Insurance Recoveries
InsuranceRecoveries
12500000 usd
CY2024Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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