DLB FY 2023 Earnings Report — Dolby Laboratories, Inc. Revenue & Financial Results | Market Cap Arena

Dolby Laboratories, Inc.DLB

FY 2023 Earnings

Reported November 16, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.3B	—	3.7%
Op. Income	$263M	—	$217M	—	21.0%
Gross Margin	88.3%	—	88.7%	—	-0.5pp
Net Margin	15.4%	—	14.7%	—	0.8pp
EPS (Diluted)	$1.96	—	$1.81	—	8.3%
Free Cash Flow	$337M	—	$259M	—	30.0%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$153M
GROSS PROFIT	$1.1B
R&D Expenses	$272M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$613M
Other Expenses	$0
Operating Expenses	$884M
Cost & Expenses	$1.0B
OPERATING INCOME	$263M
Interest Income	$28M
Interest Expense	$0
Other Income/Expenses	-$13M
INCOME BEFORE TAX	$250M
Income Tax Expense	$48M
Net Income from Continuing Ops	$202M
Net Income from Discontinued Ops	$0
NET INCOME	$201M
BOTTOM LINE NET INCOME	$201M
D&A	$96M
EBIT	$250M
EBITDA	$346M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$153M
GROSS PROFIT	$1.1B
R&D Expenses	$272M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$613M
Other Expenses	$0
Operating Expenses	$884M
Cost & Expenses	$1.0B
OPERATING INCOME	$263M
Interest Income	$28M
Interest Expense	$0
Other Income/Expenses	-$13M
INCOME BEFORE TAX	$250M
Income Tax Expense	$48M
Net Income from Continuing Ops	$202M
Net Income from Discontinued Ops	$0
NET INCOME	$201M
BOTTOM LINE NET INCOME	$201M
D&A	$96M
EBIT	$250M
EBITDA	$346M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$202M
Depreciation & Amortization	$96M
Stock-Based Compensation	$118M
Deferred Income Tax	-$18M
Other Non-Cash Items	$17M
Change in Working Capital	-$47M
OPERATING CASH FLOW	$367M
Capital Expenditure	-$30M
Acquisitions (Net)	$26M
Purchases of Investments	-$173M
Sales/Maturities of Investments	$232M
Other Investing Activities	$0
NET CASH FROM INVESTING	$54M
Common Stock Repurchased	-$180M
Common Dividends Paid	-$103M
Other Financing Activities	-$766.0K
NET CASH FROM FINANCING	-$237M
FREE CASH FLOW	$337M
Net Change in Cash	$190M

Balance Sheet

Item	Amount
Cash & Equivalents	$818M
Short-Term Investments	$139M
Net Receivables	$444M
Inventory	$36M
Other Current Assets	$26M
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$522M
Goodwill	$408M
Intangible Assets	$167M
Long-Term Investments	$98M
Tax Assets	$217M
Other Non-Current Assets	$95M
TOTAL NON-CURRENT ASSETS	$1.5B
TOTAL ASSETS	$3.0B
Account Payables	$21M
Short-Term Debt	$14M
Deferred Revenue	$32M
Other Current Liabilities	$233M
TOTAL CURRENT LIABILITIES	$422M
Long-Term Debt	$0
Deferred Revenue NC	$40M
Deferred Tax Liabilities	$15M
Other Non-Current Liabilities	$108M
TOTAL NON-CURRENT LIABILITIES	$200M
TOTAL LIABILITIES	$622M
Common Stock	$94.0K
Additional Paid-In Capital	$0
Retained Earnings	$2.4B
Accum. Other Comp. Income	-$37M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.4B
Minority Interest	$17M
TOTAL EQUITY	$2.4B
TOTAL LIABILITIES & EQUITY	$3.0B
Total Debt	$51M
Net Debt	-$767M