2024 Q3 Form 10-K Financial Statement

#000089541924000062 Filed on August 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024
Revenue $194.7M $200.7M $807.2M
YoY Change -1.37% -14.89% -12.44%
Cost Of Revenue $230.9M $198.3M $729.8M
YoY Change 33.7% 15.83% 13.61%
Gross Profit -$36.20M $2.400M $77.40M
YoY Change -246.56% -96.28% -72.31%
Gross Profit Margin -18.59% 1.2% 9.59%
Selling, General & Admin $62.20M $61.60M $246.4M
YoY Change -2.96% -3.9% 4.72%
% of Gross Profit 2566.67% 318.35%
Research & Development $50.90M $60.00M $201.9M
YoY Change 15.42% 5.08% -10.43%
% of Gross Profit 2500.0% 260.85%
Depreciation & Amortization $71.10M $45.30M $181.0M
YoY Change 77.31% -1.09% 10.37%
% of Gross Profit 1887.5% 233.85%
Operating Expenses $113.1M $121.8M $448.3M
YoY Change 4.53% -10.9% -9.96%
Operating Profit -$230.1M -$119.4M -$445.3M
YoY Change 142.47% 65.6% 103.89%
Interest Expense -$42.30M -$23.50M -$92.80M
YoY Change -168.56% -659.52% -317.84%
% of Operating Profit
Other Income/Expense, Net -$51.70M -$100.0K -$127.2M
YoY Change 81.4% -92.31% -344.15%
Pretax Income -$281.8M -$174.4M -$572.5M
YoY Change 128.36% 54.34% 74.28%
Income Tax $400.0K $500.0K $1.100M
% Of Pretax Income
Net Earnings -$282.2M -$174.9M -$864.2M
YoY Change -28.68% 54.37% 161.96%
Net Earnings / Revenue -144.94% -87.14% -107.06%
Basic Earnings Per Share -$2.23 -$6.88
Diluted Earnings Per Share -$2.23 -$1.39 -$6.88
COMMON SHARES
Basic Shares Outstanding 126.9M shares 125.9M shares 125.7M shares
Diluted Shares Outstanding 126.7M shares 125.7M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.688B $2.175B $2.175B
YoY Change -49.59% -26.41% -26.41%
Cash & Equivalents $726.1M $1.046B $1.046B
Short-Term Investments $961.5M $1.129B $1.129B
Other Short-Term Assets $98.90M $179.8M $236.4M
YoY Change -35.65% -4.21% 25.95%
Inventory $467.9M $440.7M $440.7M
Prepaid Expenses $58.30M $56.60M
Receivables $145.4M $147.4M $147.4M
Other Receivables $300.0K $30.60M $500.0K
Total Short-Term Assets $2.458B $3.000B $3.000B
YoY Change -39.74% -17.27% -17.27%
LONG-TERM ASSETS
Property, Plant & Equipment $3.959B $3.752B $3.752B
YoY Change 55.13% 70.21% 70.21%
Goodwill $359.2M $359.2M
YoY Change 0.0% 0.0%
Intangibles $23.70M $23.90M
YoY Change -4.05% -79.38%
Long-Term Investments $79.30M $79.30M $79.30M
YoY Change
Other Assets $251.1M $866.9M $768.8M
YoY Change -35.96% 176.7% 145.39%
Total Long-Term Assets $5.399B $4.985B $4.985B
YoY Change 67.0% 66.44% 66.44%
TOTAL ASSETS
Total Short-Term Assets $2.458B $3.000B $3.000B
Total Long-Term Assets $5.399B $4.985B $4.985B
Total Assets $7.858B $7.985B $7.985B
YoY Change 7.45% 20.6% 20.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $600.4M $53.00M $53.00M
YoY Change 825.12% -90.72% -90.72%
Accrued Expenses $534.6M $478.9M $478.9M
YoY Change 8.97% 392.19% -4.2%
Deferred Revenue $62.90M $62.30M
YoY Change 40.4% 44.88%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $500.0K $500.0K $500.0K
YoY Change 25.0% 0.0% 0.0%
Total Short-Term Liabilities $782.9M $665.3M $665.3M
YoY Change 4.48% 0.51% 0.51%
LONG-TERM LIABILITIES
Long-Term Debt $6.179B $6.170B $6.170B
YoY Change 19.55% 47.46% 47.46%
Other Long-Term Liabilities $256.5M $256.4M $256.4M
YoY Change 76.77% 72.43% 72.43%
Total Long-Term Liabilities $6.446B $6.437B $6.426B
YoY Change 21.22% 48.56% 48.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $782.9M $665.3M $665.3M
Total Long-Term Liabilities $6.446B $6.437B $6.426B
Total Liabilities $7.229B $7.103B $7.103B
YoY Change 19.15% 42.08% 42.08%
SHAREHOLDERS EQUITY
Retained Earnings -$3.211B -$2.928B
YoY Change 30.52% 41.87%
Common Stock $200.0K $200.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $628.9M $882.1M $882.1M
YoY Change
Total Liabilities & Shareholders Equity $7.858B $7.985B $7.985B
YoY Change 7.45% 20.6% 20.6%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024
OPERATING ACTIVITIES
Net Income -$282.2M -$174.9M -$864.2M
YoY Change -28.68% 54.37% 161.96%
Depreciation, Depletion And Amortization $71.10M $45.30M $181.0M
YoY Change 77.31% -1.09% 10.37%
Cash From Operating Activities -$132.0M -$239.5M -$725.6M
YoY Change -10.45% 361.46% 408.84%
INVESTING ACTIVITIES
Capital Expenditures $437.0M $645.9M $2.274B
YoY Change -1.13% 51.12% 136.31%
Acquisitions
YoY Change
Other Investing Activities $245.2M $277.1M $336.6M
YoY Change -171.57% -1.42% -282.24%
Cash From Investing Activities -$193.0M -$368.8M -$1.943B
YoY Change -75.44% 152.08% 69.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $23.40M
YoY Change -1.68%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $4.800M 511.9M $1.958B
YoY Change -99.49% -55.87% -24.61%
NET CHANGE
Cash From Operating Activities -$132.0M -239.5M -$725.6M
Cash From Investing Activities -$193.0M -368.8M -$1.943B
Cash From Financing Activities $4.800M 511.9M $1.958B
Net Change In Cash -$319.8M -96.40M -$711.1M
YoY Change -6496.0% -110.02% -154.39%
FREE CASH FLOW
Cash From Operating Activities -$132.0M -$239.5M -$725.6M
Capital Expenditures $437.0M $645.9M $2.274B
Free Cash Flow -$569.0M -$885.4M -$3.000B
YoY Change -3.46% 84.73% 171.48%

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CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 usd
CY2024 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
100000 usd
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 usd
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 usd
CY2024 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 usd
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
200000 usd
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 usd
CY2024 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
2000000.0 usd
CY2023 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
100000 usd
CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
200000 usd
CY2024 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1700000 usd
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1200000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
9400000 usd
CY2023Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
9800000 usd
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
7200000 usd
CY2023 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
100000 usd
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
100000 usd
CY2024 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
100000 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
100000 usd
CY2023Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
100000 usd
CY2024Q2 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
206600000 usd
CY2024Q2 wolf Undistributed Earningsof Foreign Subsidiaries Expectedtobe Repatriated
UndistributedEarningsofForeignSubsidiariesExpectedtobeRepatriated
189700000 usd
CY2024Q2 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
206600000 usd
CY2024Q2 wolf Deferred Foreign Income Tax Expense Benefit Expected Upon Repatriation Of Earnings
DeferredForeignIncomeTaxExpenseBenefitExpectedUponRepatriationOfEarnings
6900000 usd
CY2024Q2 wolf Undistributed Earningsof Foreign Subsidiaries Expectedtobe Repatriated
UndistributedEarningsofForeignSubsidiariesExpectedtobeRepatriated
189700000 usd
CY2024Q2 us-gaap Deferred Tax Liability Not Recognized Amount Of Unrecognized Deferred Tax Liability Undistributed Earnings Of Foreign Subsidiaries
DeferredTaxLiabilityNotRecognizedAmountOfUnrecognizedDeferredTaxLiabilityUndistributedEarningsOfForeignSubsidiaries
16900000 usd
CY2024 wolf Income Tax Expense Benefitif Foreign Earningsare Repatriated
IncomeTaxExpenseBenefitifForeignEarningsareRepatriated
200000 usd
CY2021Q4 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
30000000 usd
CY2024Q2 wolf Grant Disbursement Agreement Potential Grant Amount
GrantDisbursementAgreementPotentialGrantAmount
500000000 usd
CY2020Q2 wolf Grant Disbursement Agreement Term
GrantDisbursementAgreementTerm
P13Y
CY2020Q2 wolf Grant Disbursement Agreement Annual Commitment Fee Payment Duration
GrantDisbursementAgreementAnnualCommitmentFeePaymentDuration
P6Y
CY2020Q2 wolf Grant Disbursement Agreement Number Of Endowed Faculty Chairs Created
GrantDisbursementAgreementNumberOfEndowedFacultyChairsCreated
2 endowedfacultychair
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Insider Trd Policies Proc Adopted Flag
InsiderTrdPoliciesProcAdoptedFlag
false

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