2022 Q1 Form 10-Q Financial Statement

#000161764022000063 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $4.257B $1.218B
YoY Change 249.51% 8.19%
Cost Of Revenue $3.622B $711.0M
YoY Change 409.42% -6.65%
Gross Profit $635.0M $507.0M
YoY Change 25.25% 39.23%
Gross Profit Margin 14.92% 41.63%
Selling, General & Admin $426.0M $298.0M
YoY Change 42.95% 0.36%
% of Gross Profit 67.09% 58.78%
Research & Development $114.0M $120.0M
YoY Change -5.0% -11.06%
% of Gross Profit 17.95% 23.67%
Depreciation & Amortization $43.00M $29.00M
YoY Change 48.28% -0.09%
% of Gross Profit 6.77% 5.72%
Operating Expenses $540.0M $418.0M
YoY Change 29.19% -3.21%
Operating Profit $57.00M $88.00M
YoY Change -35.23% -160.9%
Interest Expense -$44.00M -$39.60M
YoY Change 11.11% 5.32%
% of Operating Profit -77.19% -45.0%
Other Income/Expense, Net $8.000M $2.400M
YoY Change 233.33% -75.0%
Pretax Income $7.000M $49.00M
YoY Change -85.71% -128.41%
Income Tax -$9.000M -$3.000M
% Of Pretax Income -128.57% -6.12%
Net Earnings $16.00M $52.00M
YoY Change -69.23% -131.85%
Net Earnings / Revenue 0.38% 4.27%
Basic Earnings Per Share $0.06 $0.21
Diluted Earnings Per Share $0.06 $0.20
COMMON SHARES
Basic Shares Outstanding 248.5M shares 243.2M shares
Diluted Shares Outstanding 252.0M shares 259.3M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.626B $4.696B
YoY Change -22.78% 83.36%
Cash & Equivalents $2.594B $3.402B
Short-Term Investments $1.032B $1.294B
Other Short-Term Assets $470.0M $228.6M
YoY Change 105.6% 100.53%
Inventory $494.0M $472.4M
Prepaid Expenses
Receivables $99.00M $82.46M
Other Receivables $0.00 $274.3M
Total Short-Term Assets $4.790B $5.754B
YoY Change -16.75% 73.42%
LONG-TERM ASSETS
Property, Plant & Equipment $234.0M $190.2M
YoY Change 23.01% 1.17%
Goodwill $2.374B $1.985B
YoY Change 19.6% 0.0%
Intangibles $165.0M $87.71M
YoY Change 88.12% -21.88%
Long-Term Investments
YoY Change
Other Assets $86.00M $8.678M
YoY Change 891.01% -47.8%
Total Long-Term Assets $3.030B $2.502B
YoY Change 21.09% -2.03%
TOTAL ASSETS
Total Short-Term Assets $4.790B $5.754B
Total Long-Term Assets $3.030B $2.502B
Total Assets $7.820B $8.256B
YoY Change -5.28% 40.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.00M $17.04M
YoY Change 40.81% -4.35%
Accrued Expenses $119.0M $121.7M
YoY Change -2.21% 36.89%
Deferred Revenue $56.00M $54.19M
YoY Change 3.34% 53.31%
Short-Term Debt $88.00M $662.2M
YoY Change -86.71% 41.92%
Long-Term Debt Due $790.0M
YoY Change
Total Short-Term Liabilities $1.202B $933.4M
YoY Change 28.77% 39.01%
LONG-TERM LIABILITIES
Long-Term Debt $1.656B $1.597B
YoY Change 3.68% 2.0%
Other Long-Term Liabilities $4.000M $14.49M
YoY Change -72.39% -93.3%
Total Long-Term Liabilities $4.000M $14.49M
YoY Change -72.39% -99.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.202B $933.4M
Total Long-Term Liabilities $4.000M $14.49M
Total Liabilities $3.018B $2.746B
YoY Change 9.91% 11.8%
SHAREHOLDERS EQUITY
Retained Earnings -$1.495B -$1.087B
YoY Change 37.5% -4.66%
Common Stock $6.298B $6.597B
YoY Change -4.53% 44.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.802B $5.510B
YoY Change
Total Liabilities & Shareholders Equity $7.820B $8.256B
YoY Change -5.28% 40.6%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $16.00M $52.00M
YoY Change -69.23% -131.85%
Depreciation, Depletion And Amortization $43.00M $29.00M
YoY Change 48.28% -0.09%
Cash From Operating Activities $3.392B $241.0M
YoY Change 1307.47% -20.2%
INVESTING ACTIVITIES
Capital Expenditures $33.00M $12.00M
YoY Change 175.0% -63.6%
Acquisitions
YoY Change
Other Investing Activities -$525.0M $920.3M
YoY Change -157.05% 215.39%
Cash From Investing Activities -$563.0M $904.0M
YoY Change -162.28% 255.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $348.0M -$545.0M
YoY Change -163.85%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$2.981B $598.0M
YoY Change -598.49% -466.64%
NET CHANGE
Cash From Operating Activities $3.392B $241.0M
Cash From Investing Activities -$563.0M $904.0M
Cash From Financing Activities -$2.981B $598.0M
Net Change In Cash -$152.0M $1.743B
YoY Change -108.72% 343.25%
FREE CASH FLOW
Cash From Operating Activities $3.392B $241.0M
Capital Expenditures $33.00M $12.00M
Free Cash Flow $3.359B $229.0M
YoY Change 1366.81% -14.88%

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<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:10pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain reclassifications have been made in the condensed consolidated statements of operations to conform data for prior periods to the current format. Beginning with the three and six month periods ended June 30, 2021, we presented a gross profit subtotal in our condensed consolidated statements of operations, which requires certain depreciation expense and amortization expense to be included within cost of revenue. We believe the presentation of gross profit is preferable as it facilitates investors’ ability to model across our segments and enhances comparability with our public company peers. To effect the presentation of gross profit, we present the amortization expense for certain intangible assets and data acquisition costs within cost of revenue and have reclassified certain amounts in prior periods in the condensed consolidated statements of operations from technology and development expenses to cost of revenue. Additionally, we reclassified the amortization expense for trade names and trademarks and customer relationship intangible assets from technology and development expenses to sales and marketing expenses. This change has no impact on income from operations or net income.</span></div>
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3 patent
CY2021Q1 z Number Of Patents Infringed
NumberOfPatentsInfringed
2 patent
CY2020Q3 z Number Of Patents Infringed
NumberOfPatentsInfringed
3 patent
CY2020Q3 z Number Of Patents Infringed
NumberOfPatentsInfringed
5 patent
CY2021Q3 z Number Of Petitions Filed
NumberOfPetitionsFiled
1 patent
CY2021Q3 z Number Of Petitions Filed
NumberOfPetitionsFiled
1 patent
CY2021Q3 z Number Of Petitions Filed
NumberOfPetitionsFiled
1 patent
CY2021Q3 z Number Of Petitions Filed
NumberOfPetitionsFiled
1 patent
CY2022Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 Segment
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 Segment
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
7000000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
49000000 USD
CY2021Q4 us-gaap Restructuring Reserve
RestructuringReserve
49000000 USD
CY2022Q1 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
40000000 USD
CY2022Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
39000000 USD
CY2022Q1 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-3000000 USD
CY2022Q1 us-gaap Restructuring Reserve
RestructuringReserve
47000000 USD
CY2022Q1 us-gaap Inventory Write Down
InventoryWriteDown
5000000 USD

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