$VRSN
VeriSign, Inc

2021 Q1 Form 10-Q Financial Statement

#000101447321000015 Filed on April 22, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $323.6M $312.5M
YoY Change 3.54% 2.0%
Cost Of Revenue $47.00M $45.57M
YoY Change 3.13% 0.15%
Gross Profit $276.6M $267.0M
YoY Change 3.61% 2.32%
Gross Profit Margin 85.48% 85.42%
Selling, General & Admin $45.90M $43.33M
YoY Change 5.93% -2.68%
% of Gross Profit 16.59% 16.23%
Research & Development $20.30M $17.36M
YoY Change 16.95% 7.6%
% of Gross Profit 7.34% 6.5%
Depreciation & Amortization $11.60M $11.20M
YoY Change 3.57% -3.45%
% of Gross Profit 4.19% 4.2%
Operating Expenses $66.20M $60.69M
YoY Change 9.08% 0.06%
Operating Profit $210.4M $206.3M
YoY Change 2.01% 3.0%
Interest Expense $22.50M $22.54M
YoY Change -0.16% -0.42%
% of Operating Profit 10.69% 10.93%
Other Income/Expense, Net $444.0K $7.084M
YoY Change -93.73% -41.95%
Pretax Income $188.3M $190.8M
YoY Change -1.32% 0.52%
Income Tax $37.90M -$143.3M
% Of Pretax Income 20.13% -75.1%
Net Earnings $150.4M $334.1M
YoY Change -54.99% 105.58%
Net Earnings / Revenue 46.48% 106.91%
Basic Earnings Per Share
Diluted Earnings Per Share $1.327M $2.863M
COMMON SHARES
Basic Shares Outstanding 113.1M shares 116.4M shares
Diluted Shares Outstanding 113.3M shares 116.7M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.181B $1.139B
YoY Change 3.69% -9.1%
Cash & Equivalents $246.8M $498.7M
Short-Term Investments $934.0M $640.0M
Other Short-Term Assets $54.37M $46.86M
YoY Change 16.03% -24.75%
Inventory
Prepaid Expenses $23.00M $16.61M
Receivables $5.135M $5.047M
Other Receivables $1.000M $0.00
Total Short-Term Assets $1.236B $1.185B
YoY Change 4.22% -9.87%
LONG-TERM ASSETS
Property, Plant & Equipment $241.1M $247.8M
YoY Change -2.68% -1.77%
Goodwill $52.53M $52.53M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $41.11M $38.69M
YoY Change 6.26% 12.29%
Total Long-Term Assets $547.3M $568.4M
YoY Change -3.7% -5.96%
TOTAL ASSETS
Total Short-Term Assets $1.236B $1.185B
Total Long-Term Assets $547.3M $568.4M
Total Assets $1.783B $1.754B
YoY Change 1.66% -8.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.00M $10.00M
YoY Change 10.0% -28.57%
Accrued Expenses $90.00M $88.00M
YoY Change 2.27% -5.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.010B $955.7M
YoY Change 5.71% 1.53%
LONG-TERM LIABILITIES
Long-Term Debt $1.791B $1.788B
YoY Change 0.17% 0.11%
Other Long-Term Liabilities $95.44M $138.1M
YoY Change -30.88% -55.33%
Total Long-Term Liabilities $2.176B $2.207B
YoY Change -1.4% -7.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.010B $955.7M
Total Long-Term Liabilities $2.176B $2.207B
Total Liabilities $3.187B $3.163B
YoY Change 0.75% -4.9%
SHAREHOLDERS EQUITY
Retained Earnings -$15.51B -$16.14B
YoY Change -3.91% -4.63%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.17B $10.48B
YoY Change 6.58% 8.94%
Treasury Stock Shares 241.3M shares 237.9M shares
Shareholders Equity -$1.404B -$1.409B
YoY Change
Total Liabilities & Shareholders Equity $1.783B $1.754B
YoY Change 1.66% -8.64%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $150.4M $334.1M
YoY Change -54.99% 105.58%
Depreciation, Depletion And Amortization $11.60M $11.20M
YoY Change 3.57% -3.45%
Cash From Operating Activities $198.3M $180.1M
YoY Change 10.13% -3.88%
INVESTING ACTIVITIES
Capital Expenditures $6.700M $11.01M
YoY Change -39.16% 20.58%
Acquisitions
YoY Change
Other Investing Activities -$168.5M $90.10M
YoY Change -287.01% 2945.98%
Cash From Investing Activities -$175.2M $79.08M
YoY Change -321.54% -81.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $185.4M $275.6M
YoY Change -32.73% 34.91%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$177.3M -$267.3M
YoY Change -33.68% 36.36%
NET CHANGE
Cash From Operating Activities $198.3M $180.1M
Cash From Investing Activities -$175.2M $79.08M
Cash From Financing Activities -$177.3M -$267.3M
Net Change In Cash -$154.4M -$9.499M
YoY Change 1525.43% -102.25%
FREE CASH FLOW
Cash From Operating Activities $198.3M $180.1M
Capital Expenditures $6.700M $11.01M
Free Cash Flow $191.6M $169.0M
YoY Change 13.34% -5.13%

Facts In Submission

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969000 USD
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1203000 USD
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14481000 USD
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8473000 USD
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9540000 USD
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201463000 USD
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208642000 USD
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CY2021Q1 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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CY2020Q1 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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355000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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113296000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
116730000 shares
CY2021Q1 us-gaap Revenues
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CY2020Q1 us-gaap Revenues
Revenues
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CY2021Q1 us-gaap Share Based Compensation
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12974000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2021Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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414000 USD
CY2020Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
493000 USD
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
12974000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
11441000 USD
CY2021Q1 us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
216000 USD
CY2020Q1 us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
4421000 USD
CY2021Q1 vrsn Incomefromtransitionservices
Incomefromtransitionservices
0 USD
CY2020Q1 vrsn Incomefromtransitionservices
Incomefromtransitionservices
2100000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
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228000 USD
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
563000 USD
CY2021Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
444000 USD
CY2020Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
7084000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
37963000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-143303000 USD
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.20 Rate
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.75 Rate
CY2021Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 Rate
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 Rate
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
11800000 USD
CY2020Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
167800000 USD

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