2024 Q1 Form 10-K Financial Statement

#000095017024023915 Filed on March 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $118.8M $137.2M $521.3M
YoY Change -6.3% 1.26% 3.8%
Cost Of Revenue $29.76M $33.57M $118.6M
YoY Change 7.07% -9.9% -3.51%
Gross Profit $89.09M $103.7M $402.7M
YoY Change -10.05% 5.49% 6.17%
Gross Profit Margin 74.96% 75.54% 77.25%
Selling, General & Admin $56.35M $59.51M $233.4M
YoY Change -2.46% -1.65% 7.36%
% of Gross Profit 63.26% 57.41% 57.96%
Research & Development $50.44M $55.84M $222.8M
YoY Change -8.05% -3.25% 2.99%
% of Gross Profit 56.62% 53.87% 55.33%
Depreciation & Amortization $3.584M $17.51M $16.65M
YoY Change -12.44% -16.03% -18.81%
% of Gross Profit 4.02% 16.89% 4.13%
Operating Expenses $106.8M $132.9M $456.2M
YoY Change -5.19% -4.47% 5.18%
Operating Profit -$32.33M -$29.19M -$129.6M
YoY Change -3.79% -28.45% -82.7%
Interest Expense $748.0K
YoY Change 1.08%
% of Operating Profit
Other Income/Expense, Net $51.00K -$9.000K
YoY Change -97.59% -100.5%
Pretax Income -$9.100M -$29.75M -$129.6M
YoY Change -72.59% -89.98% -82.66%
Income Tax $4.300M -$4.439M $10.04M
% Of Pretax Income
Net Earnings -$13.12M -$24.79M -$136.6M
YoY Change -59.0% -91.65% -81.96%
Net Earnings / Revenue -11.04% -18.07% -26.2%
Basic Earnings Per Share -$0.29 -$3.18
Diluted Earnings Per Share -$0.29 -$0.57 -$3.18
COMMON SHARES
Basic Shares Outstanding 44.27M 43.47M 43.01M
Diluted Shares Outstanding 44.52M 43.01M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $95.22M $142.1M $142.1M
YoY Change -13.98% -11.27% -11.27%
Cash & Equivalents $95.22M $142.1M $142.1M
Short-Term Investments
Other Short-Term Assets $42.89M $38.87M $54.73M
YoY Change -8.43% -7.82% 54.13%
Inventory $5.988M $7.279M $7.279M
Prepaid Expenses $25.34M $19.91M
Receivables $63.65M $55.98M $120.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $272.1M $316.9M $316.9M
YoY Change -8.49% -4.62% -4.62%
LONG-TERM ASSETS
Property, Plant & Equipment $41.71M $41.57M $81.47M
YoY Change -11.41% -13.08% -19.12%
Goodwill
YoY Change
Intangibles $195.9M $206.9M
YoY Change -21.54% -21.74%
Long-Term Investments
YoY Change
Other Assets $29.60M $32.78M $50.12M
YoY Change -13.45% -1.14% 42.18%
Total Long-Term Assets $358.3M $356.7M $356.7M
YoY Change -8.1% -11.84% -11.84%
TOTAL ASSETS
Total Short-Term Assets $272.1M $316.9M $316.9M
Total Long-Term Assets $358.3M $356.7M $356.7M
Total Assets $630.4M $673.6M $673.6M
YoY Change -8.27% -8.59% -8.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.71M $20.85M $20.85M
YoY Change 43.25% 40.27% 40.27%
Accrued Expenses $83.50M $110.0M $110.0M
YoY Change -4.41% -0.05% -0.05%
Deferred Revenue $26.33M $28.11M
YoY Change 7.05% 10.83%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $129.5M $165.1M $165.1M
YoY Change 3.05% 9.9% 9.9%
LONG-TERM LIABILITIES
Long-Term Debt $50.00M $50.00M $50.00M
YoY Change 0.0% 0.0% 0.0%
Other Long-Term Liabilities $12.59M $4.577M $64.41M
YoY Change 6.47% -14.13% -4.05%
Total Long-Term Liabilities $62.59M $54.58M $114.4M
YoY Change 1.24% -1.36% -2.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $129.5M $165.1M $165.1M
Total Long-Term Liabilities $62.59M $54.58M $114.4M
Total Liabilities $248.6M $286.5M $269.4M
YoY Change -3.12% -0.49% -1.5%
SHAREHOLDERS EQUITY
Retained Earnings -$818.6M -$805.4M
YoY Change 16.8% 20.43%
Common Stock $1.222B $1.213B
YoY Change 6.29% 6.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $399.1M $404.2M $404.2M
YoY Change
Total Liabilities & Shareholders Equity $630.4M $673.6M $673.6M
YoY Change -8.27% -8.59% -8.59%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$13.12M -$24.79M -$136.6M
YoY Change -59.0% -91.65% -81.96%
Depreciation, Depletion And Amortization $3.584M $17.51M $16.65M
YoY Change -12.44% -16.03% -18.81%
Cash From Operating Activities -$49.79M $20.66M $62.00K
YoY Change 15.51% -220.74% -100.22%
INVESTING ACTIVITIES
Capital Expenditures $1.845M $3.352M $12.75M
YoY Change -52.21% -10.59% -10.27%
Acquisitions
YoY Change
Other Investing Activities -$227.0K $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$4.714M -$3.352M -$12.93M
YoY Change 19.98% -10.59% -80.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $11.93M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.671M 5.515M 7.052M
YoY Change 60.13% -2028.32% -94.81%
NET CHANGE
Cash From Operating Activities -49.79M 20.66M 62.00K
Cash From Investing Activities -4.714M -3.352M -12.93M
Cash From Financing Activities -4.671M 5.515M 7.052M
Net Change In Cash -59.22M 22.82M -5.693M
YoY Change 19.8% -207.93% -114.44%
FREE CASH FLOW
Cash From Operating Activities -$49.79M $20.66M $62.00K
Capital Expenditures $1.845M $3.352M $12.75M
Free Cash Flow -$51.63M $17.31M -$12.69M
YoY Change 9.94% -182.97% -70.26%

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CY2023Q4 xper Number Of Business Category
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CY2022 us-gaap Increase Decrease In Deferred Income Taxes
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CY2023 us-gaap Use Of Estimates
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<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The accounting estimates and assumptions that require management’s most significant, challenging, and subjective judgment include the estimation of licensees’ quarterly royalties prior to receiving the royalty reports, the determination of stand-alone selling price and the transaction price in an arrangement with multiple performance obligations, the assessment of the recoverability of goodwill, the assessment of useful lives and recoverability of other intangible assets and long-lived assets, recognition and measurement of current and deferred income tax assets and liabilities, the assessment of unrecognized tax benefits, and purchase accounting resulting from business combinations. Actual results experienced by the Company may differ from management’s estimates.</span></p>
CY2023 us-gaap Number Of Operating Segments
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1
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CY2022Q4 us-gaap Cash Equivalents At Carrying Value
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CY2023 us-gaap Derivatives Reporting Of Derivative Activity
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<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Derivati</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">ve Instruments</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company uses derivative financial instruments to manage foreign currency exchange rate risk. The Company does not enter into derivative transactions for trading purposes. The Company’s derivative financial instruments are recorded on the Consolidated Balance Sheets as assets or liabilities measured at fair value. For derivatives designated as a hedge, and effective as part of a hedge transaction, the effective portion of the gain or loss on the hedging derivative instrument is reported as a component of other comprehensive income (loss) and as a basis adjustment to the underlying hedged item and reclassified to earnings in the period in which the hedged item affects earnings. To the extent derivatives do not qualify or are not designated as hedges, or are ineffective, their changes in fair value are recorded in earnings immediately.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
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CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2023Q4 us-gaap Property Plant And Equipment Net
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CY2022Q4 us-gaap Property Plant And Equipment Net
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CY2023Q4 us-gaap Operating Lease Liability Current
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CY2022Q4 us-gaap Accrued Royalties Current
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The Company leases office and research facilities, data centers and office equipment under operating leases with various expiration dates through 2030. Certain leases offer the option to renew for up to ten years and to terminate before the expiration date.
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CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-258000
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
6758000
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
2036000
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-1740000
CY2023 xper Income Tax Rate Reconciliation Executive Compensation Limitation
IncomeTaxRateReconciliationExecutiveCompensationLimitation
1911000
CY2022 xper Income Tax Rate Reconciliation Executive Compensation Limitation
IncomeTaxRateReconciliationExecutiveCompensationLimitation
2286000
CY2021 xper Income Tax Rate Reconciliation Executive Compensation Limitation
IncomeTaxRateReconciliationExecutiveCompensationLimitation
2221000
CY2023 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
6983000
CY2022 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
5225000
CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
2321000
CY2023 xper Income Tax Reconciliation Foreign Withholding Tax
IncomeTaxReconciliationForeignWithholdingTax
12811000
CY2022 xper Income Tax Reconciliation Foreign Withholding Tax
IncomeTaxReconciliationForeignWithholdingTax
8079000
CY2021 xper Income Tax Reconciliation Foreign Withholding Tax
IncomeTaxReconciliationForeignWithholdingTax
11018000
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
107831000
CY2023 xper Income Tax Rate Reconciliation Foreign Losses Not Benefited
IncomeTaxRateReconciliationForeignLossesNotBenefited
649000
CY2022 xper Income Tax Rate Reconciliation Foreign Losses Not Benefited
IncomeTaxRateReconciliationForeignLossesNotBenefited
293000
CY2023 us-gaap Income Tax Reconciliation Disposition Of Business
IncomeTaxReconciliationDispositionOfBusiness
-26915000
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-7354000
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
19337000
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
16407000
CY2023 xper Income Tax Reconciliation Foreign Tax Credits Expense Benefit
IncomeTaxReconciliationForeignTaxCreditsExpenseBenefit
-10124000
CY2022 xper Income Tax Reconciliation Foreign Tax Credits Expense Benefit
IncomeTaxReconciliationForeignTaxCreditsExpenseBenefit
-977000
CY2021 xper Income Tax Reconciliation Foreign Tax Credits Expense Benefit
IncomeTaxReconciliationForeignTaxCreditsExpenseBenefit
-8928000
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
50314000
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
20491000
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
39063000
CY2023 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
10151000
CY2022 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
7656000
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
1844000
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
176000
CY2023 xper Income Tax Reconciliation Unrecognized Tax Benefits
IncomeTaxReconciliationUnrecognizedTaxBenefits
746000
CY2022 xper Income Tax Reconciliation Unrecognized Tax Benefits
IncomeTaxReconciliationUnrecognizedTaxBenefits
6798000
CY2021 xper Income Tax Reconciliation Unrecognized Tax Benefits
IncomeTaxReconciliationUnrecognizedTaxBenefits
1526000
CY2023 xper Income Tax Reconciliation Change In Estimates
IncomeTaxReconciliationChangeInEstimates
3844000
CY2022 xper Income Tax Reconciliation Change In Estimates
IncomeTaxReconciliationChangeInEstimates
-1802000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10042000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13589000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18840000
CY2023Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
29700000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
23600000
CY2023Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
9600000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
19400000
CY2022Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
8800000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
8400000
CY2021Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1700000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
19354000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
8438000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
7106000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
1682000
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Acquisition
UnrecognizedTaxBenefitsDecreasesResultingFromAcquisition
1440000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
4070000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
8793000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1962000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
961000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
444000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1303000
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
798000
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
3000
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
493000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
23587000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
19354000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
8438000
CY2023 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
300000
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
400000
CY2023 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
With few exceptions, the Company’s 2019 through 2023 tax years are open and subject to potential examination in one or more jurisdictions at December 31, 2023
CY2023Q4 us-gaap Noncurrent Assets
NoncurrentAssets
81469000
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
100728000
CY2023 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
4300000
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
5400000
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
3600000

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