PetIQ, Inc(NASDAQ:PETQ) 
PetIQ, Inc. operates as a pet medication and wellness company. It operates in two segments, Products and Services. The company offers Rx pet medications, which include heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and co-deve...
Website: http://www.petiq.com
Founded: 2014
Full Time Employees: 1,866
Sector: Healthcare
Industry: Drug Manufacturers-Specialty & Generic
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
product sales | 191,326 | 239,665 | 278,167 | 258,993 | 157,324 | 176,217 | 219,014 | 247,750 | 170,947 | 181,557 | 242,857 | 230,034 | 145,055 | 150,063 | 264,307 | 166,280 | 134,894 | 161,534 | 194,606 | 126,084 | 95,141 | 108,524 | 148,713 | 97,851 | |||
services revenue | 28,600 | 37,354 | 36,380 | 31,478 | 26,755 | 33,508 | 33,000 | 20,498 | 19,442 | 24,491 | 26,028 | 22,352 | 15,883 | 22,858 | 22,429 | 17,215 | |||||||||||
total net sales | 219,926 | 277,019 | 314,547 | 290,471 | 184,079 | 209,725 | 252,014 | 186,778 | 154,336 | 186,025 | 220,634 | 148,436 | 111,024 | 131,382 | 171,142 | 115,066 | |||||||||||
cost of products sold | 146,806 | 174,286 | 210,428 | 200,902 | 120,715 | 131,414 | 163,568 | 190,851 | 135,729 | 142,009 | 185,837 | 182,827 | 117,273.75 | 116,847 | 217,469 | 134,779 | 113,283 | 140,839 | 167,845 | 108,064 | 81,177 | 90,155 | 127,583 | 84,586 | |||
cost of services | 29,130 | 30,122 | 30,240 | 27,308 | 24,080 | 27,541 | 26,472 | 19,845 | 20,591 | 17,895 | 17,889 | 15,642 | 12,942 | 17,045 | 17,241 | 14,597 | |||||||||||
total cost of sales | 175,936 | 204,408 | 240,668 | 228,210 | 144,795 | 158,955 | 190,040 | 154,624 | 133,874 | 158,734 | 185,734 | 123,706 | 94,119 | 107,200 | 144,824 | 99,183 | |||||||||||
gross profit | 43,990 | 72,611 | 73,879 | 62,261 | 39,284 | 50,770 | 61,974 | 57,635 | 36,894 | 42,072 | 59,628 | 47,799 | 26,651.5 | 32,268 | 42,184 | 32,154 | 20,462 | 27,291 | 34,900 | 24,730 | 16,905 | 24,182 | 26,318 | 15,883 | -40,616,806 | 12,517,000 | 15,951,000 |
yoy | 11.98% | 43.02% | 19.21% | 8.03% | 6.48% | 20.67% | 3.93% | 20.58% | 38.43% | 30.38% | 41.35% | 48.66% | 30.25% | 18.24% | 20.87% | 30.02% | 21.04% | 12.86% | 32.61% | 55.70% | -100.04% | -99.81% | -99.84% | ||||
qoq | -39.42% | -1.72% | 18.66% | 58.49% | -22.62% | -18.08% | 7.53% | 56.22% | -12.31% | -29.44% | 24.75% | 79.35% | -17.41% | -23.51% | 31.19% | 57.14% | -25.02% | -21.80% | 41.12% | 46.29% | -30.09% | -8.12% | 65.70% | -100.04% | -424.49% | -21.53% | |
gross margin % | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | 18.94% | 20.67% | 18.30% |
operating expenses | |||||||||||||||||||||||||||
selling, general and administrative expenses | 42,729 | 55,021 | 55,159 | 43,326 | 37,746 | 45,984 | 50,595 | 48,236 | |||||||||||||||||||
restructuring | 3,516 | 8,235 | |||||||||||||||||||||||||
goodwill impairment | 47,264 | ||||||||||||||||||||||||||
operating income | -9,935 | 9,355 | 18,720 | 18,935 | 1,538 | -42,478 | 11,379 | 9,399 | -4,561 | -3,180 | 16,486 | 7,127 | 215.5 | -3,294 | 3,692 | 464 | -12,635 | -4,364 | 8,990 | 4,872 | -5,103 | 6,561 | 9,375 | -3,085 | -13,233,711 | 1,778,000 | 6,674,000 |
yoy | -745.97% | -122.02% | 64.51% | 101.46% | -133.72% | 1235.79% | -30.98% | 31.88% | -2216.47% | -3.46% | 346.53% | 1435.99% | -101.71% | -24.52% | -58.93% | -90.48% | 147.60% | -166.51% | -4.11% | -257.93% | -99.96% | -99.63% | -99.86% | ||||
qoq | -206.20% | -50.03% | -1.14% | 1131.14% | -103.62% | -473.30% | 21.07% | -306.07% | 43.43% | -119.29% | 131.32% | 3207.19% | -106.54% | -189.22% | 695.69% | -103.67% | 189.53% | -148.54% | 84.52% | -195.47% | -177.78% | -30.02% | -403.89% | -99.98% | -844.30% | -73.36% | |
operating margin % | -Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | -Infinity% | Infinity% | Infinity% | -Infinity% | -Infinity% | Infinity% | Infinity% | Infinity% | -Infinity% | Infinity% | Infinity% | -Infinity% | -Infinity% | Infinity% | Infinity% | -Infinity% | Infinity% | Infinity% | -Infinity% | 6.17% | 2.94% | 7.66% |
interest expense | 8,410 | 8,581 | 8,824 | 8,732 | 7,678 | 7,276 | 6,299 | 6,121 | 43,389 | -6,168 | -7,655 | -4,870 | -4,625 | -7,829 | -5,967 | -4,704 | -4,574 | -5,742 | -2,242 | -1,937 | -1,882 | -2,159 | -2,216 | -1,765 | 1,349,437 | -352,000 | -535,000 |
other income | 2 | 35 | 151 | -26 | -7.75 | 172 | -201 | -3 | 522.5 | 1,331 | 442 | 317 | 175.5 | 13 | 324 | 365 | 151 | 6 | 2 | 13 | -155.5 | 351 | -877 | -96 | 3,500 | 14,000 | 3,000 |
total other income | 8,412 | 8,616 | 8,975 | 8,706 | 7,579 | 7,448 | 6,098 | 6,118 | 50,540 | -4,831 | -12,657 | -4,666 | -4,481 | -8,067 | -5,591 | -4,266 | -4,501 | -5,736 | -2,191 | -2,046 | -1,568 | -1,858 | -2,957 | -1,939 | -372,250 | -369,000 | -604,000 |
pretax net income | -18,347 | 739 | 9,745 | 10,229 | -6,041 | -49,926 | 5,281 | -3,802 | -17,136 | -10,100 | 6,799 | 2,826 | -6,671 | 4,703 | 6,418 | -5,024 | 2,939,500 | 1,409,000 | |||||||||
income tax benefit | 1,096 | -283 | -92 | 355 | -603 | 1,169 | 3,386 | 1,304 | -881 | -500 | 1,415 | -801 | -1,020 | 1,067 | |||||||||||||
net income | -17,251 | 456 | 9,553 | 9,781 | -6,887 | -49,571 | 4,678 | -477 | -8,328 | 4,034 | 2,386 | -17,280.5 | -64,529 | -1,960 | -2,633 | -13,750 | -8,796 | 5,918 | 2,326 | -5,256 | 3,902 | 5,398 | -3,957 | -11,200,183 | 859,000 | 6,070,000 | |
yoy | 150.49% | -100.92% | 104.21% | 1343.82% | 495.23% | 15.96% | -97.24% | -87.09% | -305.82% | -190.62% | 25.68% | 633.62% | -133.12% | -213.20% | 161.61% | -325.42% | 9.63% | -158.78% | -99.95% | -99.55% | -99.91% | ||||||
qoq | -3883.11% | -95.23% | -2.33% | -242.02% | -86.11% | -1159.66% | -94.27% | -306.45% | 69.07% | -113.81% | -73.22% | 3192.30% | -25.56% | -80.85% | 56.32% | -248.63% | 154.43% | -144.25% | -234.70% | -27.71% | -236.42% | -99.96% | -1403.86% | -85.85% | |||
net income margin % | -Infinity% | Infinity% | Infinity% | Infinity% | -Infinity% | -Infinity% | Infinity% | NaN% | -Infinity% | -Infinity% | Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | Infinity% | -Infinity% | Infinity% | Infinity% | -Infinity% | 5.22% | 1.42% | 6.96% |
net income attributable to non-controlling interest | 236 | 5 | 85 | 82 | -52 | -435 | 46 | -530 | -2,761 | -2,906 | 2,103 | 715 | -1,782 | 1,681 | 2,899 | -1,929 | |||||||||||
net income attributable to petiq, inc. | -17,487 | 451 | 9,468 | 9,699 | -6,835 | -49,136 | 4,632 | 3,131 | -14,124 | -7,902 | 4,026 | 2,033 | -10,419 | -63,061 | -1,891 | -2,103 | -10,989 | -5,890 | 3,815 | 1,611 | -3,474 | 2,221 | 2,499 | -56,500 | -226,000 | ||
net income per share | |||||||||||||||||||||||||||
basic | -0.6 | 0.02 | 0.32 | 0.33 | -0.23 | -1.68 | 0.16 | 0.11 | -0.5 | -0.27 | 0.14 | 0.08 | -0.4 | -2.53 | -0.08 | -0.09 | -0.49 | -0.26 | 0.17 | -0.22 | 0.13 | 0.16 | -0.14 | ||||
diluted | -0.6 | 0.02 | 0.32 | 0.32 | -0.23 | -1.68 | 0.16 | 0.11 | -0.5 | -0.27 | 0.14 | 0.08 | -0.4 | -2.53 | -0.08 | -0.09 | -0.49 | -0.26 | 0.17 | -0.22 | 0.13 | 0.16 | -0.14 | ||||
weighted-average shares of class a common stock outstanding | |||||||||||||||||||||||||||
basic | 29,135 | 29,181 | 29,136 | 29,125 | 29,159 | 29,224 | 29,283 | 23,728 | 22,652 | 22,974 | 22,365 | 17,215,978 | 16,943,630 | 15,980,111 | 14,574,883 | ||||||||||||
diluted | 29,530 | 29,715 | 29,373 | 35,230 | 29,159 | 29,224 | 29,329 | 23,728 | 22,652 | 22,974 | 22,597 | 17,215,978 | 17,238,918 | 16,008,046 | 14,574,883 | ||||||||||||
income tax expense | -192 | -448 | -137,500 | -550,000 | |||||||||||||||||||||||
loss on debt extinguishment | -1,363.25 | -5,453 | |||||||||||||||||||||||||
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general and administrative expenses | 32,266.5 | 45,252 | 43,142 | 40,672 | 26,436 | 35,562 | 38,492 | 31,690 | 28,867 | 29,345 | 24,450 | 20,538 | 18,728 | 17,621 | 16,943 | 18,968 | 6,855,250 | 10,739,000 | 9,277,000 | ||||||||
foreign currency income | -24.5 | 6 | 9 | -113 | |||||||||||||||||||||||
contingent note revaluations gain | 772.5 | 2,310 | |||||||||||||||||||||||||
foreign currency loss | -31.5 | -251 | -122 | -78 | |||||||||||||||||||||||
foreign currency gain | 52 | 73 | -78 | 49 | 136 | ||||||||||||||||||||||
contingent note revaluations loss | 1,460 | ||||||||||||||||||||||||||
contingent note revaluations (gain) loss | -680 | ||||||||||||||||||||||||||
net income per share | |||||||||||||||||||||||||||
-basic | 0.07 | -0.005 | -0.02 | ||||||||||||||||||||||||
-diluted | 0.07 | -0.005 | -0.02 | ||||||||||||||||||||||||
weighted-average shares of class a common stock outstanding | |||||||||||||||||||||||||||
foreign currency gain | 2 | -50 | |||||||||||||||||||||||||
net (loss) attributable to petiq, inc. | -2,028 | ||||||||||||||||||||||||||
net sales | -214,494,313 | 60,554,000 | 87,178,000 | ||||||||||||||||||||||||
yoy | |||||||||||||||||||||||||||
qoq | -454.22% | -30.54% | |||||||||||||||||||||||||
cost of sales | 43,523,250 | 48,037,000 | 71,227,000 | ||||||||||||||||||||||||
foreign currency gain/(loss) | -38,000 | -31,000 | -72,000 | ||||||||||||||||||||||||
net income attributable to noncontrolling interest | 2,858,500 | 1,085,000 | |||||||||||||||||||||||||
comprehensive income/ | 3,009,250 | 1,173,000 | 6,444,000 | ||||||||||||||||||||||||
foreign currency translation adjustment | 207,250 | 314,000 | 374,000 | ||||||||||||||||||||||||
comprehensive income attributable to noncontrolling interest | 3,017,500 | 1,206,000 | |||||||||||||||||||||||||
comprehensive loss attributable to member/petiq, inc. | -8,250 | -33,000 | |||||||||||||||||||||||||
net (loss)/income attributable to noncontrolling interest | |||||||||||||||||||||||||||
net income attributable to member | 6,071,000 | ||||||||||||||||||||||||||
comprehensive (loss)/income attributable to noncontrolling interest | |||||||||||||||||||||||||||
comprehensive income/(loss) attributable to member | 6,445,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
current assets | ||||||||||||||||||||||||||
cash and cash equivalents | 116,369 | 124,614 | 78,437 | 25,410 | 101,265 | 56,718 | 5,396 | 51,104 | 79,406 | 63,174 | 27,163 | 11,064 | 33,456 | 57,753 | 117,023 | 28,108 | 27,272 | 10,455 | 36,564 | 54,367 | 66,360 | 4,482 | 11,672 | 4,714 | 37,896 | 46,536,000 |
accounts receivable | 142,511 | 151,680 | 193,570 | 203,325 | 118,004 | 125,024 | 168,831 | 131,541 | 71,377 | 98,788 | 85,129 | 65,466 | 45,007 | 53,594 | 50,910 | 58,962 | 21,759 | 24,841,000 | ||||||||
inventories | 159,309 | 128,126 | 141,647 | 158,087 | 142,605 | 147,049 | 160,064 | 118,738 | 79,703 | 97,967 | 98,433 | 112,539 | 92,142 | 76,576 | 81,208 | 79,239 | 44,056 | 34,654,000 | ||||||||
other current assets | 12,645 | 6,241 | 8,788 | 10,330 | 8,238 | 7,392 | 9,337 | 8,043 | 7,071 | 6,207 | 2,874 | 4,313 | 4,212 | 1,594 | 1,967 | 3,389 | 1,991 | 1,471,000 | ||||||||
total current assets | 430,834 | 410,661 | 422,442 | 397,152 | 370,112 | 336,183 | 343,627 | 286,430 | 185,423 | 213,417 | 223,000 | 236,685 | 207,721 | 136,265 | 147,449 | 148,519 | 108,875 | 109,753,000 | ||||||||
property, plant and equipment | 57,097 | 62,927 | 69,776 | 71,667 | 73,395 | 74,823 | 76,691 | 54,240 | 52,525 | 45,815 | 26,303 | 26,811 | 27,335 | 25,036 | 25,833 | 25,275 | 15,000 | 14,865,000 | ||||||||
operating lease right of use assets | 19,079 | 12,289 | 15,440 | 16,651 | 18,231 | 19,394 | 20,674 | 20,582 | 20,785 | 21,987 | 11,990 | 9,860 | ||||||||||||||
other non-current assets | 2,083 | 2,373 | 2,426 | 2,527 | 1,373 | 1,429 | 1,882 | 3,268 | 3,214 | 1,966 | 2,896 | 2,667 | 2,857 | 3,188 | 2,933 | 3,092 | 2,446 | 1,932,000 | ||||||||
intangible assets | 159,729 | 164,644 | 169,182 | 176,145 | 172,479 | 176,936 | 181,566 | 117,621 | 119,956 | 121,721 | 85,995 | 87,366 | 88,546 | 85,431 | 86,714 | 92,036 | ||||||||||
goodwill | 199,404 | 204,195 | 204,204 | 203,573 | 183,306 | 182,949 | 230,594 | 230,702 | 231,045 | 231,764 | 125,040 | 125,279 | 125,029 | 118,408 | 118,335 | 117,389 | 5,064 | 5,063,000 | ||||||||
total assets | 868,226 | 857,089 | 883,470 | 867,715 | 818,896 | 791,714 | 855,035 | 924,434 | 819,587 | 826,558 | 843,255 | 852,504 | 771,592 | 778,107 | 867,030 | 776,992 | 672,728 | 690,084 | 523,844 | 535,253 | 495,434 | 409,429 | 399,859 | 402,402 | 140,845 | 145,042,000 |
liabilities and equity | ||||||||||||||||||||||||||
current liabilities | ||||||||||||||||||||||||||
accounts payable | 139,264 | 113,449 | 154,141 | 150,012 | 112,995 | 73,399 | 81,093 | 128,913 | 55,057 | 62,510 | 61,653 | 101,033 | 68,131 | 65,352 | 91,492 | 78,733 | 51,538 | 58,743 | 61,234 | 71,023 | 54,768 | 46,306 | 65,291 | 55,370 | 14,234 | 11,860,000 |
accrued wages payable | 16,734 | 19,162 | 11,826 | 9,547 | 11,512 | 13,795 | 10,370 | 6,536 | 9,082 | 8,674 | 6,725 | 4,158 | 5,295 | 3,952 | 3,423 | 2,531 | 1,811 | 1,691,000 | ||||||||
accrued interest payable | 6,636 | 7,915 | 1,465 | 3,155 | 1,912 | 2,947 | 1,387 | 643 | 83 | 124 | 547 | 607 | 728 | 1,023 | 926 | 927 | 115 | 112,000 | ||||||||
other accrued expenses | 10,692 | 9,133 | 9,909 | 8,388 | 7,725 | 11,009 | 11,539 | 5,968 | 3,871 | 3,998 | 877 | 919 | 1,154 | 1,072 | 2,225 | 2,344 | 305 | 2,266,000 | ||||||||
current portion of operating leases | 7,608 | 6,877 | 6,211 | 6,410 | 6,595 | 6,266 | 6,334 | 4,770 | 4,619 | 4,745 | 3,306 | 2,862 | ||||||||||||||
current portion of long-term debt and finance leases | 8,595 | 8,105 | 8,152 | 8,675 | 8,751 | 8,491 | 8,446 | 3,841 | 3,821 | 3,504 | 2,338 | 2,446 | ||||||||||||||
total current liabilities | 189,529 | 164,641 | 191,704 | 186,187 | 149,490 | 115,907 | 119,170 | 100,491 | 73,014 | 79,788 | 75,027 | 82,015 | 64,196 | 54,326 | 73,898 | 63,304 | 18,191 | 16,074,000 | ||||||||
operating leases, less current installments | 13,763 | 8,783 | 9,957 | 10,956 | 12,405 | 14,005 | 15,259 | 16,283 | 16,580 | 17,561 | 8,895 | 7,170 | ||||||||||||||
long-term debt, less current installments | 437,820 | 439,210 | 440,582 | 441,938 | 443,276 | 444,598 | 450,904 | 325,432 | 251,376 | 254,745 | 99,723 | |||||||||||||||
finance leases, less current installments | 516 | 617 | 837 | 703 | 907 | 1,481 | 1,830 | 3,225 | 3,331 | 1,879 | 1,768 | 1,944 | ||||||||||||||
other non-current liabilities | 3,600 | 4,667 | 4,787 | 4,782 | 1,025 | 411 | 431 | 58 | 117 | 238 | 254 | 268 | 524 | 417 | 403 | 237 | 238 | 336,000 | ||||||||
total non-current liabilities | 455,699 | 453,277 | 456,163 | 458,379 | 457,613 | 460,495 | 468,424 | 344,998 | 271,404 | 274,423 | 110,640 | 124,656 | 110,261 | 116,585 | 116,953 | 138,784 | 17,810 | 20,667,000 | ||||||||
equity | ||||||||||||||||||||||||||
additional paid-in capital | 387,349 | 385,839 | 383,020 | 380,429 | 378,709 | 376,277 | 374,057 | 312,874 | 300,120 | 292,810 | 282,343 | 271,916 | 262,219 | 189,880 | 146,054 | 137,916 | 70,873 | 71,192,000 | ||||||||
class a common stock | 29 | 13 | 13,000 | |||||||||||||||||||||||
class b common stock, par value 0.001 per share... | 4 | 5 | 5 | 7 | 6 | 7 | 7 | 9 | 8 | |||||||||||||||||
class a treasury stock | -3,857 | -3,857 | -3,857 | -3,857 | -3,857 | -3,857 | ||||||||||||||||||||
accumulated deficit | -160,602 | -143,115 | -143,566 | -153,034 | -162,733 | -155,898 | -106,762 | -18,006 | -15,903 | -4,914 | -2,839 | -4,450 | -976 | -3,197 | -5,696 | -3,493 | -226,000 | |||||||||
accumulated other comprehensive loss | -1,706 | -1,715 | -1,990 | -2,275 | -2,224 | -3,138 | -2,203 | -1,655 | -1,131 | -1,661 | -1,327 | -941 | -1,316 | -1,049 | -913 | -427 | -687 | -684,000 | ||||||||
total stockholders' equity | 221,213 | 237,181 | 233,636 | 221,292 | 209,924 | 213,413 | 265,121 | 293,241 | 283,114 | 286,263 | 282,020 | 268,164 | 256,481 | 187,881 | 141,969 | 131,817 | ||||||||||
non-controlling interest | 1,785 | 1,990 | 1,967 | 1,857 | 1,869 | 1,899 | 2,320 | 38,262 | 45,196 | 49,610 | 56,157 | 60,418 | 64,496 | 50,637 | 67,039 | 68,497 | 38,130 | 37,998,000 | ||||||||
total equity | 222,998 | 239,171 | 235,603 | 223,149 | 211,793 | 215,312 | 267,441 | 331,503 | 328,310 | 335,873 | 338,177 | 328,582 | 320,977 | 238,518 | 209,008 | 200,314 | 104,844 | 108,301,000 | ||||||||
total liabilities and equity | 868,226 | 857,089 | 883,470 | 867,715 | 818,896 | 791,714 | 855,035 | 924,434 | 819,587 | 826,558 | 843,255 | 852,504 | 771,592 | 778,107 | 867,030 | 776,992 | 672,728 | 690,084 | 523,844 | 535,253 | 495,434 | 409,429 | 399,859 | 402,402 | 140,845 | 145,042,000 |
class a common stock, par value 0.001 per share... | 29 | 29 | 29 | 29 | 29 | 29 | 24 | 23 | 23 | 22 | 22 | 22 | 19 | 16 | 16 | |||||||||||
commitments and contingencies | ||||||||||||||||||||||||||
deferred tax assets | 64,149 | 59,780 | 53,414 | 48,620 | 46,585 | 43,946 | 41,101 | 18,595 | 16,091 | 5,994 | 9,707,000 | |||||||||||||||
retained earnings | 976 | |||||||||||||||||||||||||
long-term debt | 115,274 | 107,418 | 107,642 | 107,404 | 126,915 | 17,183 | 19,928,000 | |||||||||||||||||||
current portion of long-term debt and capital leases | 2,251 | 1,973 | 2,033 | 2,132 | 151 | 145,000 | ||||||||||||||||||||
capital leases, less current installments | 2,319 | 1,376 | 1,646 | 1,991 | ||||||||||||||||||||||
supplier prepayments | 19 | 1,692 | 2,215 | 3,173 | 2,251,000 | |||||||||||||||||||||
contingent notes | 7,150 | 7,500 | 9,641 | |||||||||||||||||||||||
restricted deposits | 200 | 200,000 | ||||||||||||||||||||||||
intangible assets, net of accumulated amortization | 3,266 | 3,522,000 | ||||||||||||||||||||||||
liabilities and member's equity | ||||||||||||||||||||||||||
current portion of deferred acquisition liability | 1,575 | |||||||||||||||||||||||||
non-current liabilities | ||||||||||||||||||||||||||
obligations under capital leases, less current installments | 389 | 403,000 | ||||||||||||||||||||||||
deferred acquisition liability | ||||||||||||||||||||||||||
members equity | ||||||||||||||||||||||||||
class b common stock | 8 | 8,000 | ||||||||||||||||||||||||
total stockholders' / member's equity | 66,714 | 70,303,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | ||||||||||||||||||||||||
net income | -17,251 | 456 | 9,553 | 9,781 | -6,887 | -49,571 | 4,678 | 3,160 | -14,475 | -8,328 | 4,034 | 2,386 | -11,900 | -64,529 | -1,960 | -2,633 | -13,750 | -8,796 | 5,918 | 2,326 | -5,256 | 3,902 | 5,398 | -3,957 |
adjustments to reconcile net income to net cash from operating activities | ||||||||||||||||||||||||
depreciation and amortization of intangible assets and loan fees | 8,682 | 16,047 | 11,306 | 8,463 | 8,904 | 5,470 | 5,504 | 4,949 | 2,965 | 3,091 | 3,540 | 3,213 | 3,192 | 2,522 | ||||||||||
loss on debt extinguishment | ||||||||||||||||||||||||
gain on disposition of property, plant, and equipment | 382 | -375 | ||||||||||||||||||||||
stock based compensation expense | 1,409 | 2,851 | 2,742 | 2,466 | 2,459 | 2,238 | 2,558 | 2,608 | 1,601 | 1,602 | 1,544 | 1,134 | 1,224 | 756 | 698 | |||||||||
deferred tax adjustment | -1,169 | -3,495 | -1,601 | 1,138 | 500 | -1,604 | 808 | 1,020 | -1,067 | |||||||||||||||
impairment and other asset charges | ||||||||||||||||||||||||
other non-cash activity | -757 | 807 | -83 | -52 | -378 | -55 | 33 | 259 | 90 | 39 | 17 | -250 | -350 | 459 | -193 | |||||||||
changes in assets and liabilities, net of business acquisition | ||||||||||||||||||||||||
accounts receivable | 8,105 | 41,906 | 9,782 | -84,250 | 7,082 | 43,750 | -60,217 | 27,561 | -1,466 | -19,774 | -20,444 | 9,090 | -2,479 | 8,177 | -28,997 | |||||||||
inventories | -32,492 | 13,550 | 16,468 | -13,567 | 4,550 | 12,924 | -39,069 | 18,311 | 18,431 | 14,072 | -20,366 | -11,865 | 4,639 | -2,146 | -27,238 | |||||||||
other assets | -2,082 | 2,559 | 1,584 | -2,065 | -831 | 2,333 | -1,090 | -2,987 | 118 | |||||||||||||||
accounts payable | 26,543 | -40,913 | 4,301 | 36,019 | 39,589 | -7,524 | 27,827 | -8,621 | -5,630 | -10,679 | 17,335 | 5,974 | -22,132 | 9,351 | 22,508 | |||||||||
accrued wages payable | -2,307 | 7,397 | 2,240 | -1,988 | -2,308 | 3,442 | -2,561 | 399 | 994 | 2,557 | -1,150 | 1,037 | 532 | 892 | -482 | |||||||||
other accrued expenses | -201 | 5,659 | -163 | 1,866 | -4,265 | 751 | 2,620 | -419 | -1,582 | -358 | -359 | -383 | 3,595 | -30 | -2,274 | |||||||||
net cash from operating activities | -2,842 | 50,326 | 57,730 | -43,327 | 48,896 | 64,512 | -68,606 | 29,436 | 9,455 | 141 | -18,199 | 2,390 | -5,382 | 29,010 | -38,431 | |||||||||
capital expenditures | -2,940 | -2,077 | -2,218 | -1,910 | -2,176 | -1,771 | -5,075 | -5,148 | -3,398 | -833 | -897 | -1,050 | -1,396 | -2,508 | -2,224 | |||||||||
free cash flows | -5,782 | 48,249 | 55,512 | -45,237 | 46,720 | 62,741 | -73,681 | 24,288 | 6,057 | -692 | -19,096 | 1,340 | -6,778 | 26,502 | -40,655 | |||||||||
cash flows from investing activities | ||||||||||||||||||||||||
proceeds from disposition of property, plant, and equipment | 429 | 270 | 1 | 22 | 47 | 121 | 5 | 46 | 57 | |||||||||||||||
purchase of property, plant, and equipment | -2,940 | -2,077 | -2,218 | -1,910 | -2,176 | -1,771 | -5,075 | -5,148 | -3,398 | -833 | -897 | -1,050 | -1,396 | -2,508 | -2,224 | |||||||||
business acquisitions | 0 | |||||||||||||||||||||||
net cash from investing activities | -2,940 | -2,077 | -2,218 | -29,544 | -2,176 | -1,771 | -4,646 | -4,878 | -188,487 | -811 | -850 | -1,898 | -1,391 | -2,559 | -94,153 | |||||||||
cash flows from financing activities | ||||||||||||||||||||||||
proceeds from issuance of long-term debt | 0 | 0 | 20,000 | 15,000 | 15,000 | 0 | 239,600 | 157,303 | 337,940 | 189,010 | 134,134 | 110,250 | 128,700 | 136,800 | 162,278 | |||||||||
principal payments on long-term debt | -1,900 | -1,900 | -21,900 | -16,900 | -16,900 | -6,900 | -165,816 | -164,828 | -179,825 | -206,139 | -125,717 | -120,775 | -130,173 | -156,431 | -59,533 | |||||||||
tax distributions to llc owners | -20 | -45 | -263 | 0 | -1,378 | |||||||||||||||||||
principal payments on finance lease obligations | -356 | -337 | -455 | -346 | -396 | -353 | -394 | -444 | -366 | -366 | -371 | |||||||||||||
payment of deferred financing fees and debt discount | -428 | -5,312 | 0 | -50 | -75 | -62 | 0 | -2,613 | ||||||||||||||||
tax withholding payments on restricted stock units | 0 | -15 | -129 | -840 | -13 | 3 | -149 | |||||||||||||||||
stock repurchase | ||||||||||||||||||||||||
exercise of options to purchase class a common stock | 0 | 0 | 1,002 | |||||||||||||||||||||
net cash from financing activities | -2,367 | -2,252 | -2,484 | -3,086 | -2,309 | -11,107 | 74,223 | -7,826 | 152,964 | -17,012 | 6,933 | 61,436 | -406 | -19,410 | 99,350 | |||||||||
net change in cash and cash equivalents | -8,149 | 45,997 | 53,028 | -75,957 | 44,411 | 51,634 | 971 | 16,732 | -26,068 | -17,682 | -12,116 | 61,928 | -7,179 | 7,041 | -33,234 | |||||||||
effect of exchange rate changes on cash and cash equivalents | -96 | 180 | -1 | 102 | 136 | -312 | -135 | 85 | -41 | -121 | 123 | -50 | -11 | -83 | 52 | |||||||||
cash and cash equivalents, beginning of period | 0 | 0 | 0 | 101,265 | 0 | 0 | 27,272 | 0 | 0 | 0 | 66,360 | 0 | 0 | 0 | 37,896 | |||||||||
cash and cash equivalents, end of period | -8,245 | 46,177 | 53,027 | 25,410 | 44,547 | 51,322 | -45,708 | 51,104 | 16,232 | 36,011 | 16,099 | 11,064 | -24,297 | -59,270 | 88,915 | 28,108 | 16,817 | -26,109 | -17,803 | 54,367 | 61,878 | -7,190 | 6,958 | 4,714 |
loss on disposition of property, plant, and equipment | ||||||||||||||||||||||||
goodwill impairment | 0 | |||||||||||||||||||||||
business acquisition | 0 | 0 | -27,634 | 0 | -97 | -91,986 | ||||||||||||||||||
repurchase of class a common stock | ||||||||||||||||||||||||
depreciation, amortization of intangible assets and loan fees | ||||||||||||||||||||||||
termination of supply agreement | ||||||||||||||||||||||||
changes in assets and liabilities | ||||||||||||||||||||||||
purchase of capstar and related intangibles | ||||||||||||||||||||||||
proceeds from issuance of convertible notes | ||||||||||||||||||||||||
payment for capped call options | ||||||||||||||||||||||||
payment of financing fees on convertible notes | ||||||||||||||||||||||||
contingent note revaluation | ||||||||||||||||||||||||
proceeds from issuance of convertible notes - liability component | ||||||||||||||||||||||||
proceeds from issuance of convertible notes - equity component | ||||||||||||||||||||||||
proceeds from public offering of class a common stock, net of underwriting discounts and offering costs | ||||||||||||||||||||||||
foreign exchange loss on liabilities | 53 | |||||||||||||||||||||||
(gain) loss on disposition of property, plant, and equipment | -34 | |||||||||||||||||||||||
repayment of preference notes | ||||||||||||||||||||||||
change in restricted deposits | ||||||||||||||||||||||||
purchase of llc units from continuing llc owners | ||||||||||||||||||||||||
contingent note revaluations | 2,310 | 1,460 | -680 | |||||||||||||||||||||
exercise of options to purchase common stock | 790 | 483 | 315 | 0 | ||||||||||||||||||||
foreign exchange gain on liabilities | ||||||||||||||||||||||||
foreign exchange (gain) loss on liabilities | 0 | 57 | ||||||||||||||||||||||
prepaid expenses and other assets | 21 | -2,258 | 1,601 | 2,064 | 16 | |||||||||||||||||||
proceeds from public offering of class a shares, net of underwriting discounts and offering costs | ||||||||||||||||||||||||
tax distributions to continuing llc owners | -540 | |||||||||||||||||||||||
principal payments on capital lease obligations | -393 | -300 | -319 | -242 | ||||||||||||||||||||
proceeds from initial public offering (ipo) of class a shares, net of underwriting discounts and offering costs | ||||||||||||||||||||||||
adjustments to reconcile net income to net cash (used in) operating activities | ||||||||||||||||||||||||
(gain) loss on disposition of property | -29 | -20 | ||||||||||||||||||||||
loss on disposition of property | ||||||||||||||||||||||||
warranty settlement gain | ||||||||||||||||||||||||
purchase of property, plant, and equipment and intangibles | ||||||||||||||||||||||||
change in restricted cash and deposits | ||||||||||||||||||||||||
cash flows from financing activities: | ||||||||||||||||||||||||
proceeds from issuance of long term debt | ||||||||||||||||||||||||
principal payments on long term debt | ||||||||||||||||||||||||
supplemental cash flow information | ||||||||||||||||||||||||
interest paid | ||||||||||||||||||||||||
property, plant, and equipment acquired through accounts payable | ||||||||||||||||||||||||
capital lease additions | ||||||||||||||||||||||||
issuance of preference notes for llc interests | ||||||||||||||||||||||||
establishment of deferred tax asset from step-up in basis | ||||||||||||||||||||||||
accrued tax distribution | ||||||||||||||||||||||||
change in restricted cash |