2019 Q1 Form 10-Q Financial Statement
#000163622219000080 Filed on May 08, 2019
Income Statement
Concept | 2019 Q1 | 2018 Q1 |
---|---|---|
Revenue | $48.05M | $37.39M |
YoY Change | 28.52% | |
Cost Of Revenue | $9.730M | $7.397M |
YoY Change | 31.54% | |
Gross Profit | $38.32M | $29.99M |
YoY Change | 27.78% | |
Gross Profit Margin | 79.75% | 80.22% |
Selling, General & Admin | $12.54M | $10.83M |
YoY Change | 15.78% | |
% of Gross Profit | 32.73% | 36.12% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $1.276M | $950.0K |
YoY Change | 34.32% | |
% of Gross Profit | 3.33% | 3.17% |
Operating Expenses | $36.28M | $27.82M |
YoY Change | 30.4% | |
Operating Profit | $11.77M | $9.566M |
YoY Change | 23.05% | |
Interest Expense | -$4.410M | -$1.736M |
YoY Change | 154.03% | |
% of Operating Profit | -37.46% | -18.15% |
Other Income/Expense, Net | ||
YoY Change | ||
Pretax Income | $7.361M | $7.830M |
YoY Change | -5.99% | |
Income Tax | $800.0K | $1.662M |
% Of Pretax Income | 10.87% | 21.23% |
Net Earnings | $6.606M | $6.168M |
YoY Change | 7.1% | |
Net Earnings / Revenue | 13.75% | 16.5% |
Basic Earnings Per Share | $0.23 | $0.21 |
Diluted Earnings Per Share | $0.22 | $0.21 |
COMMON SHARES | ||
Basic Shares Outstanding | 29.34M shares | 29.12M shares |
Diluted Shares Outstanding | 29.64M shares | 29.50M shares |
Balance Sheet
Concept | 2019 Q1 | 2018 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $13.60M | $3.800M |
YoY Change | 257.89% | |
Cash & Equivalents | $13.63M | $3.848M |
Short-Term Investments | ||
Other Short-Term Assets | $15.80M | $7.100M |
YoY Change | 122.54% | |
Inventory | ||
Prepaid Expenses | ||
Receivables | $4.918M | $3.860M |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $34.42M | $14.84M |
YoY Change | 131.84% | |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $8.299M | $5.768M |
YoY Change | 43.88% | |
Goodwill | $49.66M | $1.331M |
YoY Change | 3630.65% | |
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $12.48M | $4.249M |
YoY Change | 193.69% | |
Total Long-Term Assets | $117.0M | $105.8M |
YoY Change | 10.58% | |
TOTAL ASSETS | ||
Total Short-Term Assets | $34.42M | $14.84M |
Total Long-Term Assets | $117.0M | $105.8M |
Total Assets | $151.5M | $120.7M |
YoY Change | 25.5% | |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $2.190M | $2.214M |
YoY Change | -1.08% | |
Accrued Expenses | $1.800M | |
YoY Change | ||
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | $3.200M | $5.000M |
YoY Change | -36.0% | |
Total Short-Term Liabilities | $29.02M | $20.24M |
YoY Change | 43.37% | |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $308.9M | $217.8M |
YoY Change | 41.85% | |
Other Long-Term Liabilities | $8.138M | $2.101M |
YoY Change | 287.34% | |
Total Long-Term Liabilities | $317.1M | $219.9M |
YoY Change | 44.2% | |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $29.02M | $20.24M |
Total Long-Term Liabilities | $317.1M | $219.9M |
Total Liabilities | $371.9M | $267.2M |
YoY Change | 39.2% | |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$221.0M | -$146.8M |
YoY Change | 50.48% | |
Common Stock | $294.0K | $292.0K |
YoY Change | 0.68% | |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$220.5M | -$146.5M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $151.5M | $120.7M |
YoY Change | 25.5% |
Cashflow Statement
Concept | 2019 Q1 | 2018 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $6.606M | $6.168M |
YoY Change | 7.1% | |
Depreciation, Depletion And Amortization | $1.276M | $950.0K |
YoY Change | 34.32% | |
Cash From Operating Activities | $9.598M | $9.456M |
YoY Change | 1.5% | |
INVESTING ACTIVITIES | ||
Capital Expenditures | $641.0K | $426.0K |
YoY Change | 50.47% | |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $0.00 | -$1.900M |
YoY Change | -100.0% | |
Cash From Investing Activities | -$641.0K | -$2.326M |
YoY Change | -72.44% | |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | $2.571M | $93.10M |
YoY Change | -97.24% | |
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | $0.00 | $139.5M |
YoY Change | -100.0% | |
Cash From Financing Activities | -$3.246M | -$5.947M |
YoY Change | -45.42% | |
NET CHANGE | ||
Cash From Operating Activities | $9.598M | $9.456M |
Cash From Investing Activities | -$641.0K | -$2.326M |
Cash From Financing Activities | -$3.246M | -$5.947M |
Net Change In Cash | $5.711M | $1.183M |
YoY Change | 382.76% | |
FREE CASH FLOW | ||
Cash From Operating Activities | $9.598M | $9.456M |
Capital Expenditures | $641.0K | $426.0K |
Free Cash Flow | $8.957M | $9.030M |
YoY Change | -0.81% |
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|
11771000 | USD |
CY2019Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
502000 | USD |
CY2019Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
9889000 | USD |
CY2019Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
1751000 | USD |
CY2019Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
8138000 | USD |
CY2019Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
545000 | USD |
CY2019Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
8170000 | USD |
CY2019Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0497 | |
CY2019Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P5Y7M17D | |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
11868000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
2181000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
1523000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
1800000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
2005000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
2214000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
2145000 | USD |
CY2018Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
4917000 | USD |
CY2019Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
12479000 | USD |
CY2018Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
16201000 | USD |
CY2019Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
14222000 | USD |
CY2018Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
1972000 | USD |
CY2019Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
8138000 | USD |
CY2019Q1 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
2600000 | USD |
CY2018Q1 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
94796000 | USD |
CY2019Q1 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
2571000 | USD |
CY2018Q1 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
782000 | USD |
CY2019Q1 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
0 | USD |
CY2018Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
142000 | USD |
CY2018Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
142000 | USD |
CY2019Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
833000 | USD |
CY2019Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
833000 | USD |
CY2018Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
426000 | USD |
CY2019Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
641000 | USD |
CY2018Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
2056000 | USD |
CY2019Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1641000 | USD |
CY2018Q1 | us-gaap |
Proceeds And Excess Tax Benefit From Sharebased Compensation
ProceedsAndExcessTaxBenefitFromSharebasedCompensation
|
400000 | USD |
CY2019Q1 | us-gaap |
Proceeds And Excess Tax Benefit From Sharebased Compensation
ProceedsAndExcessTaxBenefitFromSharebasedCompensation
|
1200000 | USD |
CY2018Q1 | us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
229108000 | USD |
CY2019Q1 | us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
0 | USD |
CY2018Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
165000 | USD |
CY2019Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
158000 | USD |
CY2018Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
8338000 | USD |
CY2019Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
8299000 | USD |
CY2018Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
139500000 | USD |
CY2019Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
0 | USD |
CY2018Q4 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
4462000 | USD |
CY2019Q1 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
4824000 | USD |
CY2018Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-226159000 | USD |
CY2019Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-220978000 | USD |
CY2019Q1 | us-gaap |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
|
P7Y4M17D | |
CY2018Q1 | us-gaap |
Revenues
Revenues
|
37389000 | USD |
CY2019Q1 | us-gaap |
Revenues
Revenues
|
48053000 | USD |
CY2018Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
10833000 | USD |
CY2019Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
12542000 | USD |
CY2018Q4 | us-gaap |
Senior Notes
SeniorNotes
|
320000000 | USD |
CY2018Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
514000 | USD |
CY2019Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
838000 | USD |
CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
3500000 | USD |
CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
1000 | shares |
CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
0 | shares |
CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
236000 | shares |
CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
181000 | shares |
CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
6.04 | |
CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
6.43 | |
CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
13848000 | USD |
CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
12526000 | USD |
CY2019Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
2.92 | |
CY2019Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
40.98 | |
CY2019Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.00 | |
CY2018 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P4Y9M4D | |
CY2019Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P4Y8M12D | |
CY2019Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
200000 | USD |
CY2019Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
54000 | shares |
CY2018Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
165000 | USD |
CY2019Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
158000 | USD |
CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-58418000 | USD |
CY2018Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-146510000 | USD |
CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-224830000 | USD |
CY2019Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-220478000 | USD |
CY2019Q1 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
125000 | USD |
CY2018Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
29503000 | shares |
CY2019Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
29637000 | shares |
CY2018Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
29116000 | shares |
CY2019Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
29337000 | shares |
CY2018Q4 | wing |
Advertising Fund Assets Restricted
AdvertisingFundAssetsRestricted
|
5131000 | USD |
CY2019Q1 | wing |
Advertising Fund Assets Restricted
AdvertisingFundAssetsRestricted
|
9407000 | USD |
CY2018Q4 | wing |
Advertising Fund Liabilities Restricted
AdvertisingFundLiabilitiesRestricted
|
5131000 | USD |
CY2019Q1 | wing |
Advertising Fund Liabilities Restricted
AdvertisingFundLiabilitiesRestricted
|
9407000 | USD |
CY2018Q4 | wing |
Contractwith Customer Portionof Liabilitynotyetbeing Amortized
ContractwithCustomerPortionofLiabilitynotyetbeingAmortized
|
9200000 | USD |
CY2019Q1 | wing |
Contractwith Customer Portionof Liabilitynotyetbeing Amortized
ContractwithCustomerPortionofLiabilitynotyetbeingAmortized
|
8000000 | USD |
CY2018Q1 | wing |
Franchise Advertising Fund Expenses
FranchiseAdvertisingFundExpenses
|
8643000 | USD |
CY2019Q1 | wing |
Franchise Advertising Fund Expenses
FranchiseAdvertisingFundExpenses
|
12734000 | USD |
CY2018Q1 | wing |
Franchise Advertising Fund Income
FranchiseAdvertisingFundIncome
|
8605000 | USD |
CY2019Q1 | wing |
Franchise Advertising Fund Income
FranchiseAdvertisingFundIncome
|
13210000 | USD |
CY2018Q1 | wing |
Increase Decreasein Advertising Fund Assetsand Liabilitiesnet
IncreaseDecreaseinAdvertisingFundAssetsandLiabilitiesnet
|
1398000 | USD |
CY2019Q1 | wing |
Increase Decreasein Advertising Fund Assetsand Liabilitiesnet
IncreaseDecreaseinAdvertisingFundAssetsandLiabilitiesnet
|
4217000 | USD |
CY2018 | wing |
Percentageof Revenue Collectedfor Advertising Fund
PercentageofRevenueCollectedforAdvertisingFund
|
0.03 | |
CY2019Q1 | wing |
Percentageof Revenue Collectedfor Advertising Fund
PercentageofRevenueCollectedforAdvertisingFund
|
0.04 | |
CY2018Q4 | wing |
Restrictedcashincludedin Advertisingfundassetsrestricted
RestrictedcashincludedinAdvertisingfundassetsrestricted
|
3985000 | USD |
CY2019Q1 | wing |
Restrictedcashincludedin Advertisingfundassetsrestricted
RestrictedcashincludedinAdvertisingfundassetsrestricted
|
8202000 | USD |
CY2019Q1 | us-gaap |
Fiscal Period
FiscalPeriod
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company uses a 52/53-week fiscal year that ends on the last Saturday of the calendar year. Fiscal years </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;"> have 52 weeks</font></div></div> |