$VRT
Vertiv Holdings Co

2022 Q1 Form 10-Q Financial Statement

#000162828022011733 Filed on May 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $1.156B $1.098B
YoY Change 5.28% 22.41%
Cost Of Revenue $852.8M $740.4M
YoY Change 15.18% 21.32%
Gross Profit $303.6M $358.0M
YoY Change -15.2% 24.74%
Gross Profit Margin 26.25% 32.59%
Selling, General & Admin $292.2M $250.1M
YoY Change 16.83% -5.55%
% of Gross Profit 96.25% 69.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.90M $16.90M
YoY Change 5.92% 19.01%
% of Gross Profit 5.9% 4.72%
Operating Expenses $292.2M $250.1M
YoY Change 16.83% -5.55%
Operating Profit -$45.20M $79.80M
YoY Change -156.64% -754.1%
Interest Expense $29.30M $24.10M
YoY Change 21.58% -65.02%
% of Operating Profit 30.2%
Other Income/Expense, Net
YoY Change
Pretax Income $20.40M $41.70M
YoY Change -51.08% -121.44%
Income Tax $11.90M $10.00M
% Of Pretax Income 58.33% 23.98%
Net Earnings $8.500M $31.70M
YoY Change -73.19% -115.22%
Net Earnings / Revenue 0.74% 2.89%
Basic Earnings Per Share $0.02 $0.09
Diluted Earnings Per Share -$0.23 $0.09
COMMON SHARES
Basic Shares Outstanding 376.0M shares 349.6M shares
Diluted Shares Outstanding 379.7M shares 353.4M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $288.5M $677.2M
YoY Change -57.4% 130.97%
Cash & Equivalents $288.5M $677.2M
Short-Term Investments
Other Short-Term Assets $126.7M $183.4M
YoY Change -30.92% 0.22%
Inventory $774.5M $511.1M
Prepaid Expenses
Receivables $1.534B $1.295B
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.724B $2.666B
YoY Change 2.17% 29.07%
LONG-TERM ASSETS
Property, Plant & Equipment $485.3M $413.0M
YoY Change 17.51% 0.07%
Goodwill $1.318B $599.8M
YoY Change 119.69% 0.59%
Intangibles $2.055B $1.263B
YoY Change 62.76% -8.85%
Long-Term Investments
YoY Change
Other Assets $277.1M $201.6M
YoY Change 37.45% 24.44%
Total Long-Term Assets $4.187B $2.495B
YoY Change 67.8% -2.69%
TOTAL ASSETS
Total Short-Term Assets $2.724B $2.666B
Total Long-Term Assets $4.187B $2.495B
Total Assets $6.911B $5.161B
YoY Change 33.9% 11.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $887.5M $737.8M
YoY Change 20.29% 24.69%
Accrued Expenses $972.3M $869.2M
YoY Change 11.86% 16.41%
Deferred Revenue $293.9M $232.6M
YoY Change 26.35% 23.72%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $21.80M $22.00M
YoY Change -0.91% -0.9%
Total Short-Term Liabilities $1.904B $1.645B
YoY Change 15.7% 19.39%
LONG-TERM LIABILITIES
Long-Term Debt $2.946B $2.127B
YoY Change 38.53% -12.07%
Other Long-Term Liabilities $357.4M $455.1M
YoY Change -21.47% 17.08%
Total Long-Term Liabilities $3.304B $2.582B
YoY Change 27.95% -8.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.904B $1.645B
Total Long-Term Liabilities $3.304B $2.582B
Total Liabilities $5.457B $4.433B
YoY Change 23.11% 3.13%
SHAREHOLDERS EQUITY
Retained Earnings -$1.207B -$1.300B
YoY Change -7.13% 2.36%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.454B $728.7M
YoY Change
Total Liabilities & Shareholders Equity $6.911B $5.161B
YoY Change 33.9% 11.48%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $8.500M $31.70M
YoY Change -73.19% -115.22%
Depreciation, Depletion And Amortization $17.90M $16.90M
YoY Change 5.92% 19.01%
Cash From Operating Activities -$132.2M $60.70M
YoY Change -317.79% -131.18%
INVESTING ACTIVITIES
Capital Expenditures $15.10M $16.80M
YoY Change -10.12% 150.75%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$18.20M -$17.90M
YoY Change 1.68% 110.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.500M $102.9M
YoY Change -101.46% -63.16%
NET CHANGE
Cash From Operating Activities -$132.2M $60.70M
Cash From Investing Activities -$18.20M -$17.90M
Cash From Financing Activities -$1.500M $102.9M
Net Change In Cash -$150.6M $142.6M
YoY Change -205.61% 104.59%
FREE CASH FLOW
Cash From Operating Activities -$132.2M $60.70M
Capital Expenditures $15.10M $16.80M
Free Cash Flow -$147.3M $43.90M
YoY Change -435.54% -121.8%

Facts In Submission

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DESCRIPTION OF BUSINESSVertiv Holdings Co ("Holdings Co", and together with its majority-owned subsidiaries, “Vertiv”, "we", "our", or "the Company"), formerly known as GS Acquisition Holdings Corp, provides mission-critical infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments. Vertiv’s offerings include power conditioning and uninterruptible power systems, thermal management, integrated data center control devices, software, monitoring, and service. Vertiv manages and reports results of operations for three reportable segments: Americas; Asia Pacific; and Europe, Middle East & Africa.
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1156400000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1098400000 USD
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1300000 USD
CY2021Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
6900000 USD
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-45200000 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
79800000 USD
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
8500000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
31700000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
375972294 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
349603701 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.23
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
8500000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
31700000 USD
CY2022Q1 vrt Dilutive Securities Effect On Basic Earnings Per Share Dilutive Warrant Liabilities
DilutiveSecuritiesEffectOnBasicEarningsPerShareDilutiveWarrantLiabilities
-94900000 USD
CY2021Q1 vrt Dilutive Securities Effect On Basic Earnings Per Share Dilutive Warrant Liabilities
DilutiveSecuritiesEffectOnBasicEarningsPerShareDilutiveWarrantLiabilities
0 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-86400000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
31700000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
375972294 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
349603701 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
3720435 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3844884 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
379692729 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
353448585 shares
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
CY2022Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
3700000 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3800000 shares
CY2021Q3 vrt Loss Contingency Barred From Recovery Value
LossContingencyBarredFromRecoveryValue
9000000.0 USD
CY2021Q3 vrt Loss Contingency Disgorgement Value
LossContingencyDisgorgementValue
10000000.0 USD

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