2015 Q3 Form 10-Q Financial Statement

#000119312515368502 Filed on November 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $176.8M $88.65M
YoY Change 99.41% 66.32%
Cost Of Revenue $16.45M $7.679M
YoY Change 114.26% 50.57%
Gross Profit $160.3M $80.97M
YoY Change 98.0% 67.98%
Gross Profit Margin 90.69% 91.34%
Selling, General & Admin $124.7M $63.22M
YoY Change 97.27% 52.71%
% of Gross Profit 77.8% 78.08%
Research & Development $53.72M $20.79M
YoY Change 158.4% 192.8%
% of Gross Profit 33.51% 25.68%
Depreciation & Amortization $19.60M $9.000M
YoY Change 117.78% 52.54%
% of Gross Profit 12.23% 11.12%
Operating Expenses $178.4M $84.01M
YoY Change 112.4% 57.03%
Operating Profit -$27.68M -$16.24M
YoY Change 70.41% 206.45%
Interest Expense $1.590M $300.0K
YoY Change 430.0% 200.0%
% of Operating Profit
Other Income/Expense, Net $400.0K
YoY Change
Pretax Income -$28.90M -$15.98M
YoY Change 80.9% 190.49%
Income Tax -$2.853M $0.00
% Of Pretax Income
Net Earnings -$26.05M -$15.98M
YoY Change 63.04% 1231.42%
Net Earnings / Revenue -14.74% -18.02%
Basic Earnings Per Share
Diluted Earnings Per Share -$146.8K -$397.0K
COMMON SHARES
Basic Shares Outstanding 177.1M shares
Diluted Shares Outstanding 177.1M shares

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $536.8M $366.3M
YoY Change 46.55% 0.36%
Cash & Equivalents $233.5M $122.8M
Short-Term Investments $303.2M $243.6M
Other Short-Term Assets $25.20M $8.900M
YoY Change 183.15% 78.0%
Inventory
Prepaid Expenses
Receivables $33.57M $21.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $595.5M $397.0M
YoY Change 50.01% 2.9%
LONG-TERM ASSETS
Property, Plant & Equipment $85.75M $38.30M
YoY Change 123.88% 70.22%
Goodwill $1.910B
YoY Change
Intangibles $563.5M
YoY Change
Long-Term Investments $0.00 $92.10M
YoY Change -100.0% 54.79%
Other Assets $1.073M $500.0K
YoY Change 114.6% 25.0%
Total Long-Term Assets $2.567B $252.2M
YoY Change 917.81% 22.49%
TOTAL ASSETS
Total Short-Term Assets $595.5M $397.0M
Total Long-Term Assets $2.567B $252.2M
Total Assets $3.162B $649.2M
YoY Change 387.13% 9.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.124M $13.40M
YoY Change -54.3% 235.0%
Accrued Expenses $67.45M $24.50M
YoY Change 175.3% 54.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $107.0M $53.50M
YoY Change 99.97% 72.58%
LONG-TERM LIABILITIES
Long-Term Debt $230.0M $0.00
YoY Change
Other Long-Term Liabilities $13.80M $10.50M
YoY Change 31.43% 208.82%
Total Long-Term Liabilities $230.0M $10.50M
YoY Change 2090.48% 208.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $107.0M $53.50M
Total Long-Term Liabilities $230.0M $10.50M
Total Liabilities $489.0M $64.00M
YoY Change 664.08% 86.05%
SHAREHOLDERS EQUITY
Retained Earnings -$250.9M
YoY Change
Common Stock $2.924B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.673B $585.2M
YoY Change
Total Liabilities & Shareholders Equity $3.162B $649.2M
YoY Change 387.13% 9.72%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$26.05M -$15.98M
YoY Change 63.04% 1231.42%
Depreciation, Depletion And Amortization $19.60M $9.000M
YoY Change 117.78% 52.54%
Cash From Operating Activities $22.50M $4.500M
YoY Change 400.0% 12.5%
INVESTING ACTIVITIES
Capital Expenditures -$19.90M -$9.900M
YoY Change 101.01% 54.69%
Acquisitions
YoY Change
Other Investing Activities -$67.60M -$16.90M
YoY Change 300.0% -76.46%
Cash From Investing Activities -$87.60M -$26.90M
YoY Change 225.65% -65.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.600M 6.900M
YoY Change -152.17% -97.36%
NET CHANGE
Cash From Operating Activities 22.50M 4.500M
Cash From Investing Activities -87.60M -26.90M
Cash From Financing Activities -3.600M 6.900M
Net Change In Cash -68.70M -15.50M
YoY Change 343.23% -108.27%
FREE CASH FLOW
Cash From Operating Activities $22.50M $4.500M
Capital Expenditures -$19.90M -$9.900M
Free Cash Flow $42.40M $14.40M
YoY Change 194.44% 38.46%

Facts In Submission

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dei Document Type
DocumentType
10-Q
dei Trading Symbol
TradingSymbol
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dei Entity Central Index Key
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0001617640
dei Document Period End Date
DocumentPeriodEndDate
2015-09-30
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As a result, we have not been able to establish selling price based on&#xA0;TPE.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> <i>BESP -</i>&#xA0;When we are unable to establish selling price using VSOE or TPE, we use BESP in our allocation of arrangement consideration. The objective of BESP is to determine the price at which we would transact a sale if the service was sold regularly on a standalone basis. 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In addition, the list prices are impacted by market conditions, including the conditions of the real estate market and economy in general, and our competitive landscape; and</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="9%">&#xA0;</td> <td valign="top" width="3%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">Analysis of our current and historical selling prices for these deliverables.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> We limit the amount of allocable arrangement consideration to amounts that are fixed or determinable and that are not contingent on future performance or future deliverables. We regularly review our BESP. Changes in assumptions or judgments or changes to the elements in the arrangement could cause a material increase or decrease in the amount of revenue that we report in a particular period.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> We recognize the relative fair value of the products as they are delivered assuming all other revenue recognition criteria are met.</p> </div>
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EarningsPerShareBasicAndDiluted
-0.13
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
20.88
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0160 pure
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-15977000
CY2014Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
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CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-15977000
CY2014Q3 us-gaap Revenues
Revenues
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CY2014Q3 us-gaap Advertising Revenue
AdvertisingRevenue
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OtherNonoperatingIncome
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CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2014Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
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CY2014Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
155790000
CY2014Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
13200000
CY2014Q3 us-gaap Selling And Marketing Expense
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CY2014Q3 us-gaap Other Depreciation And Amortization
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CY2014Q3 us-gaap Amortization Of Intangible Assets
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CY2014Q3 us-gaap Cost Of Revenue
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CY2014Q3 us-gaap General And Administrative Expense
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CY2014Q3 us-gaap Capitalized Computer Software Additions
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CY2014Q3 us-gaap Allocated Share Based Compensation Expense
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CY2014Q3 us-gaap Defined Contribution Plan Cost Recognized
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CY2014Q3 us-gaap Research And Development Expense
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.55 pure
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2015Q3 us-gaap Comprehensive Income Net Of Tax
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CY2015Q3 us-gaap Sales Revenue Services Net
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CY2015Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2015Q3 us-gaap Revenues
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CY2015Q3 us-gaap Advertising Revenue
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CY2015Q3 us-gaap Net Income Loss
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CY2015Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
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CY2015Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
154000
CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
153000
CY2015Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
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CY2015Q3 us-gaap Interest Expense
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CY2015Q3 us-gaap Selling And Marketing Expense
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3200000
CY2015Q3 us-gaap Amortization Of Intangible Assets
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16405000
CY2015Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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1000
CY2015Q3 us-gaap Cost Of Revenue
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16453000
CY2015Q3 us-gaap Income Tax Expense Benefit
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CY2015Q3 us-gaap Capitalized Computer Software Additions
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204443000
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3800000
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
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29074000
CY2015Q3 us-gaap Restructuring Charges
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3425000
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DefinedContributionPlanCostRecognized
1000000
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
53718000
CY2015Q3 zg Gain Loss On Disposition Of Business Excluding Immaterial Divestitures
GainLossOnDispositionOfBusinessExcludingImmaterialDivestitures
-4143000

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