2022 Q3 Form 10-Q Financial Statement

#000179451522000131 Filed on August 01, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $287.6M $267.1M $222.3M
YoY Change 45.55% 53.51% 59.13%
Cost Of Revenue $48.20M $46.90M $40.10M
YoY Change 29.22% 57.91% 51.32%
Gross Profit $239.4M $220.1M $182.2M
YoY Change 49.91% 53.17% 60.95%
Gross Profit Margin 83.24% 82.4% 81.96%
Selling, General & Admin $127.6M $124.4M $101.6M
YoY Change 43.86% 73.26% 66.83%
% of Gross Profit 53.3% 56.52% 55.76%
Research & Development $54.20M $49.50M $40.50M
YoY Change 57.56% 106.25% 204.51%
% of Gross Profit 22.64% 22.49% 22.23%
Depreciation & Amortization $4.800M $4.600M $19.70M
YoY Change 65.52% 31.43% 42.75%
% of Gross Profit 2.01% 2.09% 10.81%
Operating Expenses $187.6M $180.6M $147.4M
YoY Change 34.48% 75.68% 86.58%
Operating Profit $51.80M $39.50M $34.80M
YoY Change 156.44% -3.42% 1.75%
Interest Expense $11.60M $11.70M -$13.40M
YoY Change -16.55% 15.84% 34.0%
% of Operating Profit 22.39% 29.62% -38.51%
Other Income/Expense, Net $9.800M -$1.400M $39.10M
YoY Change 9700.0% 1300.0% 237.07%
Pretax Income $50.00M $26.40M $49.90M
YoY Change 986.96% -14.01% 59.94%
Income Tax $32.10M $10.50M -$95.30M
% Of Pretax Income 64.2% 39.77% -190.98%
Net Earnings $17.90M $15.90M $144.9M
YoY Change -144.09% 70.97% 468.24%
Net Earnings / Revenue 6.22% 5.95% 65.18%
Basic Earnings Per Share $0.04 $0.04
Diluted Earnings Per Share $0.04 $0.04 $125.3K
COMMON SHARES
Basic Shares Outstanding 403.4M shares 403.4M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $438.7M $365.6M $326.7M
YoY Change 88.04% -8.53% 8.75%
Cash & Equivalents $406.3M $352.7M $308.3M
Short-Term Investments $32.40M $12.90M $18.40M
Other Short-Term Assets $48.80M $41.30M $23.40M
YoY Change -9.96% 161.39% -15.83%
Inventory
Prepaid Expenses
Receivables $164.9M $161.9M $187.0M
Other Receivables $6.100M $6.000M $4.900M
Total Short-Term Assets $663.2M $578.8M $545.7M
YoY Change 62.27% 9.21% 24.16%
LONG-TERM ASSETS
Property, Plant & Equipment $50.20M $47.80M $41.70M
YoY Change 29.72% 43.54% 34.52%
Goodwill $1.696B $1.696B $1.575B
YoY Change 7.67% 65.64% 57.49%
Intangibles $413.5M $431.4M $431.0M
YoY Change -7.56% 21.83% 17.86%
Long-Term Investments
YoY Change
Other Assets $4.171B $4.195B $4.200B
YoY Change 2.32% 413.16% 845.0%
Total Long-Term Assets $6.396B $6.430B $6.307B
YoY Change 3.17% 180.37% 234.09%
TOTAL ASSETS
Total Short-Term Assets $663.2M $578.8M $545.7M
Total Long-Term Assets $6.396B $6.430B $6.307B
Total Assets $7.059B $7.009B $6.853B
YoY Change 6.83% 148.24% 194.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.00M $19.90M $15.90M
YoY Change -11.65% -3.86% 84.88%
Accrued Expenses $89.50M $84.50M $103.3M
YoY Change 15.34% 18.51% 26.75%
Deferred Revenue $379.7M $410.1M $361.5M
YoY Change 32.95% 49.62% 63.35%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change
Total Short-Term Liabilities $518.0M $535.8M $507.6M
YoY Change 26.99% 38.99% 58.23%
LONG-TERM LIABILITIES
Long-Term Debt $1.235B $1.234B $1.233B
YoY Change 0.23% 66.98% 65.51%
Other Long-Term Liabilities $2.300M $2.800M $2.800M
YoY Change -67.14% -54.1% -64.1%
Total Long-Term Liabilities $1.237B $1.237B $1.236B
YoY Change -0.15% 65.99% 64.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $518.0M $535.8M $507.6M
Total Long-Term Liabilities $1.237B $1.237B $1.236B
Total Liabilities $4.863B $4.885B $4.855B
YoY Change 1.87% 166.68% 249.83%
SHAREHOLDERS EQUITY
Retained Earnings $152.8M $134.9M $112.8M
YoY Change -576.01% 1487.06% -2920.0%
Common Stock $4.000M $4.000M $4.000M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.196B $2.124B $1.998B
YoY Change
Total Liabilities & Shareholders Equity $7.059B $7.009B $6.853B
YoY Change 6.83% 148.24% 194.44%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income $17.90M $15.90M $144.9M
YoY Change -144.09% 70.97% 468.24%
Depreciation, Depletion And Amortization $4.800M $4.600M $19.70M
YoY Change 65.52% 31.43% 42.75%
Cash From Operating Activities $85.70M $106.2M $71.30M
YoY Change 84.3% 19.86% 6.58%
INVESTING ACTIVITIES
Capital Expenditures -$25.90M -$8.200M -$7.800M
YoY Change 439.58% 30.16% 56.0%
Acquisitions
YoY Change
Other Investing Activities -$1.400M -$136.2M $51.40M
YoY Change -99.79% -617.87% -153.26%
Cash From Investing Activities -$27.30M -$144.4M $43.60M
YoY Change -95.87% -822.0% -142.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.500M -3.500M -3.400M
YoY Change -100.93% -32.69% 750.0%
NET CHANGE
Cash From Operating Activities 85.70M 106.2M 71.30M
Cash From Investing Activities -27.30M -144.4M 43.60M
Cash From Financing Activities -4.500M -3.500M -3.400M
Net Change In Cash 53.90M -41.70M 111.5M
YoY Change -140.83% -140.33% -418.57%
FREE CASH FLOW
Cash From Operating Activities $85.70M $106.2M $71.30M
Capital Expenditures -$25.90M -$8.200M -$7.800M
Free Cash Flow $111.6M $114.4M $79.10M
YoY Change 117.54% 20.55% 10.01%

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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
We refer to the Reclassification, together with the Blocker Mergers and the ZoomInfo HoldCo Contributions, as the “Reorganization Transactions.” Following the Reorganization Transactions, ZoomInfo Technologies Inc. became a holding company, with its sole material asset being a controlling equity interest in ZoomInfo HoldCo, which became a holding company with its sole material asset being a controlling equity interest in ZoomInfo OpCo. ZoomInfo Technologies Inc. will operate and control all of the business and affairs, and consolidate the financial results, of ZoomInfo OpCo through ZoomInfo HoldCo and, through ZoomInfo OpCo and its subsidiaries, conduct our business. Accordingly, ZoomInfo Technologies Inc. consolidates the financial results of ZoomInfo HoldCo, and therefore ZoomInfo OpCo, and reports the non-controlling interests of the Pre-IPO HoldCo Units and Pre-IPO OpCo Units on its consolidated financial statements.
CY2020Q2 zi Number Of Tax Receivable Agreements
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us-gaap Use Of Estimates
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<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:18pt"><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 conformity with U.S. GAAP requires us to make certain estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements, as well as the reported amounts of revenue and expenses during the reporting period. We base these estimates on historical and anticipated results, trends, and other assumptions with respect to future events that we believe are reasonable and evaluate our estimates on an ongoing basis. Given that estimates and judgments are required, actual results may differ from our estimates and such differences could be material to our consolidated financial position and results of operations.</span></div>
us-gaap Concentration Risk Credit Risk
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Concentrations of Credit Risk and Significant CustomersFinancial instruments that potentially subject us to concentrations of credit risk consist principally of cash and cash equivalents, short-term investments, and accounts receivable. The Company holds cash at major financial institutions that often exceed Federal Deposit Insurance Corporation (“FDIC”) insured limits. The Company manages its credit risk associated with cash concentrations by concentrating its cash deposits in high-quality financial institutions and by periodically evaluating the credit quality of the primary financial institutions holding such deposits. The carrying value of cash approximates fair value. Our investment portfolio is comprised of highly rated securities with a weighted-average maturity of less than 12 months in accordance with our investment policy which seeks to preserve principal and maintain a high degree of liquidity. Historically, the Company has not experienced any losses due to such cash concentrations. The Company does not have any off-balance-sheet credit exposure related to its customers. Concentrations of credit risk with respect to accounts receivable and revenue are limited due to a large, diverse customer base. We do not require collateral from clients. We maintain an allowance for credit losses based upon the expected collectability of accounts receivable. The Company performs ongoing credit evaluations of its customers and maintains allowances for possible losses, which, when realized, have been within the range of management’s expectations.
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us-gaap Advertising Expense
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0.85
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us-gaap Number Of Reporting Units
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us-gaap Goodwill Impairment Loss
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us-gaap Goodwill Impairment Loss
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
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CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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267100000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
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