2021 Q1 Form 10-Q Financial Statement

#000108404821000032 Filed on May 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $311.7M $251.4M
YoY Change 23.97% -16.17%
Cost Of Revenue $43.85M $59.13M
YoY Change -25.84% 15.91%
Gross Profit $267.8M $204.6M
YoY Change 30.89% -17.79%
Gross Profit Margin 85.93% 81.38%
Selling, General & Admin $221.2M $202.6M
YoY Change 9.2% 9.5%
% of Gross Profit 82.62% 99.03%
Research & Development $19.68M $15.41M
YoY Change 27.71% 18.65%
% of Gross Profit 7.35% 7.53%
Depreciation & Amortization $65.49M $53.98M
YoY Change 21.33% 9.7%
% of Gross Profit 24.46% 26.38%
Operating Expenses $240.9M $218.0M
YoY Change 10.51% 10.1%
Operating Profit $26.88M $55.25M
YoY Change -51.34% 8.62%
Interest Expense -$21.48M -$41.80M
YoY Change -48.62% 161.25%
% of Operating Profit -79.9% -75.66%
Other Income/Expense, Net $243.0K -$6.876M
YoY Change -103.53% 212.26%
Pretax Income -$10.10M -$18.90M
YoY Change -46.56% -856.0%
Income Tax -$6.884M $8.703M
% Of Pretax Income
Net Earnings $77.92M -$6.404M
YoY Change -1316.77% -119.74%
Net Earnings / Revenue 25.0% -2.55%
Basic Earnings Per Share $1.75 -$0.13
Diluted Earnings Per Share $1.67 -$0.13
COMMON SHARES
Basic Shares Outstanding 44.40M shares 47.62M shares
Diluted Shares Outstanding 46.73M shares 47.62M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $372.6M $526.6M
YoY Change -29.24% 132.39%
Cash & Equivalents $372.0M $526.6M
Short-Term Investments $663.0K
Other Short-Term Assets $60.45M $50.80M
YoY Change 18.99% 57.76%
Inventory
Prepaid Expenses
Receivables $242.4M $204.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $675.5M $782.1M
YoY Change -13.63% 79.56%
LONG-TERM ASSETS
Property, Plant & Equipment $155.8M $136.4M
YoY Change 14.19% 30.4%
Goodwill $1.778B $1.637B
YoY Change 8.58% 15.65%
Intangibles
YoY Change
Long-Term Investments $107.4M $67.49M
YoY Change 59.14% 67.4%
Other Assets $16.99M $14.46M
YoY Change 17.5% 36.33%
Total Long-Term Assets $3.028B $2.587B
YoY Change 17.06% 17.19%
TOTAL ASSETS
Total Short-Term Assets $675.5M $782.1M
Total Long-Term Assets $3.028B $2.587B
Total Assets $3.704B $3.369B
YoY Change 9.94% 27.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $201.1M $162.7M
YoY Change 23.63% -12.99%
Accrued Expenses $30.33M $26.70M
YoY Change 13.6% 41.27%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $399.9M $0.00
YoY Change
Total Short-Term Liabilities $867.5M $368.7M
YoY Change 135.31% 5.78%
LONG-TERM LIABILITIES
Long-Term Debt $1.186B $1.455B
YoY Change -18.48% 43.26%
Other Long-Term Liabilities $32.95M $26.74M
YoY Change 23.25% 24.76%
Total Long-Term Liabilities $1.219B $1.482B
YoY Change -17.73% 42.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $867.5M $368.7M
Total Long-Term Liabilities $1.219B $1.482B
Total Liabilities $2.429B $2.128B
YoY Change 14.14% 34.14%
SHAREHOLDERS EQUITY
Retained Earnings $882.1M $832.6M
YoY Change 5.94% 12.19%
Common Stock $445.0K $471.0K
YoY Change -5.52% -1.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.275B $1.241B
YoY Change
Total Liabilities & Shareholders Equity $3.704B $3.369B
YoY Change 9.94% 27.47%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $77.92M -$6.404M
YoY Change -1316.77% -119.74%
Depreciation, Depletion And Amortization $65.49M $53.98M
YoY Change 21.33% 9.7%
Cash From Operating Activities $178.7M $102.0M
YoY Change 75.16% -12.68%
INVESTING ACTIVITIES
Capital Expenditures $26.27M $26.89M
YoY Change -2.29% 114.55%
Acquisitions -$385.0K $18.70M
YoY Change -102.06% -68.48%
Other Investing Activities -$2.679M -$42.20M
YoY Change -93.65% -38.93%
Cash From Investing Activities -$28.96M -$69.06M
YoY Change -58.07% -15.43%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change -100.0%
Common Stock Issuance & Retirement, Net $12.18M $62.97M
YoY Change -80.66% 5249.7%
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities -$20.14M -$78.36M
YoY Change -74.3% 306.5%
NET CHANGE
Cash From Operating Activities $178.7M $102.0M
Cash From Investing Activities -$28.96M -$69.06M
Cash From Financing Activities -$20.14M -$78.36M
Net Change In Cash $129.3M -$49.06M
YoY Change -363.59% -408.29%
FREE CASH FLOW
Cash From Operating Activities $178.7M $102.0M
Capital Expenditures $26.27M $26.89M
Free Cash Flow $152.5M $75.15M
YoY Change 102.86% -27.96%

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CY2020Q1 us-gaap Operating Lease Impairment Loss
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510000 USD
CY2020Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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CY2020Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
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24270000 USD
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8169000 USD
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2471000 USD
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1616000 USD
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7867000 USD
CY2020Q1 us-gaap Increase Decrease In Deferred Revenue
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CY2020Q1 jcom Increase Decreasein Operating Lease Liabilities
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CY2021Q1 jcom Increase Decrease In Liability For Uncertain Tax Positions
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1304000 USD
CY2020Q1 jcom Increase Decrease In Liability For Uncertain Tax Positions
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1654000 USD
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CY2020Q1 us-gaap Increase Decrease In Other Operating Liabilities
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400000 USD
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22840000 USD
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999000 USD
CY2020Q1 us-gaap Payments To Acquire Other Investments
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CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
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26885000 USD
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226000 USD
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18701000 USD
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5999000 USD
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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371971000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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6313000 USD
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<div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, including judgments about investment classifications and the reported amounts of net revenue and expenses during the reporting period. The Company believes that its most significant estimates are those related to revenue recognition, valuation and impairment of investments, its assessment of ownership interests as variable interest entities and the related determination of consolidation, share-based compensation expense, fair value of assets acquired and liabilities assumed in connection with business combinations, long-lived and intangible asset impairment, contingent consideration, income taxes and contingencies and allowances for doubtful accounts. On an ongoing basis, management evaluates its estimates based on historical experience and on various other factors that the Company believes to be reasonable under the circumstances. Actual results could materially differ from those estimates due to risks and uncertainties, including uncertainty in the current economic environment due to the novel coronavirus pandemic (“COVID-19”).</span></div>
CY2020Q1 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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CY2021Q1 us-gaap Comparability Of Prior Year Financial Data
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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reclassifications</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior year reported amounts have been reclassified to conform to the 2021 presentation.</span></div>
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CY2020Q1 us-gaap Revenues
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CY2021Q1 us-gaap Revenues
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0 USD
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479000 USD
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31779000 USD
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479000 USD
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23800000 USD
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152000 USD
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511000 USD
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152000 USD
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CY2021Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
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22800000 USD
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22800000 USD
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12566000 USD
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500000 USD
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CY2021Q1 us-gaap Goodwill
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940009000 USD
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904142000 USD
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CY2020Q1 us-gaap Amortization Of Intangible Assets
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38800000 USD
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136100000 USD
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134700000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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106200000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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77700000 USD
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65300000 USD
CY2021Q1 jcom Finite Lived Intangible Asset Expected Amortization After Year Four
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137800000 USD
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12566000 USD
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CY2021Q1 us-gaap Operating Lease Liability
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1790000 USD
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P5Y
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y2M12D
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CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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25640000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
30680000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
25072000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
18473000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
10035000 USD
CY2021Q1 jcom Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
31319000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
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141219000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
15210000 USD
CY2021Q1 us-gaap Operating Lease Liability
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126009000 USD
CY2021Q1 us-gaap Sublease Income
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400000 USD
CY2020Q1 us-gaap Sublease Income
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800000 USD
CY2021Q1 us-gaap Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
4300000 USD
CY2020 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2021Q1 us-gaap Loss Contingency Accrual At Carrying Value
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4500000 USD
CY2021Q1 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
23700000 USD
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.096
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.325
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
19500000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-18900000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
39800000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
25500000 USD
CY2021Q1 us-gaap Unrecognized Tax Benefits
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58400000 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits
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7400000 USD
CY2020Q1 us-gaap Income Taxes Paid Net
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CY2021Q1 us-gaap Prepaid Taxes
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CY2020Q4 us-gaap Prepaid Taxes
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
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CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y1M6D
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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22531404 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
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CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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70.16
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1200000 USD
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3000000.0 USD
CY2021Q1 jcom Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Estimated Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsEstimatedForfeitureRate
0.1223
CY2020Q1 jcom Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Estimated Forfeiture Rate
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0.1157
CY2021Q1 us-gaap Net Income Loss
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CY2020Q1 us-gaap Net Income Loss
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CY2021Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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88000 USD
CY2020Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2021Q1 jcom Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
77834000 USD
CY2020Q1 jcom Net Income Loss Available To Common Stockholders Basic And Diluted
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CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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CY2020Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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0 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1.75
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1.67
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CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
CY2021Q1 jcom Number Of Businesses
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2 business
CY2021Q1 us-gaap Number Of Reportable Segments
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3 segment
CY2021Q1 us-gaap Revenues
Revenues
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CY2020Q1 us-gaap Revenues
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CY2021Q1 us-gaap Gross Profit
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CY2020Q1 us-gaap Gross Profit
GrossProfit
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CY2021Q1 jcom Direct Costs By Segment
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CY2020Q1 jcom Direct Costs By Segment
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CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2020Q1 us-gaap Operating Income Loss
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CY2021Q1 us-gaap Assets
Assets
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CY2020Q4 us-gaap Assets
Assets
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CY2021Q1 us-gaap Property Plant And Equipment Additions
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CY2020Q1 us-gaap Property Plant And Equipment Additions
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CY2021Q1 us-gaap Depreciation And Amortization
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CY2020Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
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CY2021Q1 us-gaap Revenues
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CY2020Q1 us-gaap Revenues
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CY2021Q1 us-gaap Noncurrent Assets
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CY2021Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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-8424000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-8424000 USD

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