Q2 2021 Earnings

Reported June 29, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	Q2 2021	Q1 2021	Q2 2020	QoQ Change	YoY Change
Revenue	$478M	$430M	$432M	11.0%	10.5%
Op. Income	$134M	$112M	$57M	19.2%	133.5%
Gross Margin	50.8%	46.5%	32.7%	4.3pp	18.1pp
Net Margin	24.1%	24.2%	14.2%	-0.1pp	9.9pp
EPS (Diluted)	$0.56	$0.51	$0.31	9.8%	81.9%

Revenue Flow

Item	Amount
REVENUE	$478M
Cost of Revenue	$235M
GROSS PROFIT	$243M
R&D Expenses	$19M
Selling & Marketing	$72M
General & Administrative	$18M
SG&A Expenses	$90M
Other Expenses	$0
Operating Expenses	$109M
Cost & Expenses	$344M
OPERATING INCOME	$134M
Interest Income	$0
Interest Expense	$2M
Other Income/Expenses	$3M
INCOME BEFORE TAX	$137M
Income Tax Expense	$22M
Net Income from Continuing Ops	$115M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$115M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$115M
D&A	$0
EBIT	$139M
EBITDA	$139M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$478M
Cost of Revenue	$235M
GROSS PROFIT	$243M
R&D Expenses	$19M
Selling & Marketing	$72M
General & Administrative	$18M
SG&A Expenses	$90M
Other Expenses	$0
Operating Expenses	$109M
Cost & Expenses	$344M
OPERATING INCOME	$134M
Interest Income	$0
Interest Expense	$2M
Other Income/Expenses	$3M
INCOME BEFORE TAX	$137M
Income Tax Expense	$22M
Net Income from Continuing Ops	$115M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$115M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$115M
D&A	$0
EBIT	$139M
EBITDA	$139M
EPS	$1
EPS Diluted	$1

Balance Sheet

Item	Amount
Cash & Equivalents	$348M
Short-Term Investments	$0
Net Receivables	$624M
Inventory	$7M
Other Current Assets	$1.2B
TOTAL CURRENT ASSETS	$2.3B
PP&E (Net)	$19M
Goodwill	$0
Intangible Assets	$144M
Long-Term Investments	$69M
Tax Assets	$118M
Other Non-Current Assets	$250M
TOTAL NON-CURRENT ASSETS	$600M
TOTAL ASSETS	$2.9B
Account Payables	$5M
Short-Term Debt	$777M
Deferred Revenue	$60M
Other Current Liabilities	$207M
TOTAL CURRENT LIABILITIES	$1.5B
Long-Term Debt	$369M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$5M
Other Non-Current Liabilities	$3M
TOTAL NON-CURRENT LIABILITIES	$377M
TOTAL LIABILITIES	$1.9B
Common Stock	$34.5K
Additional Paid-In Capital	$412M
Retained Earnings	$528M
Treasury Stock	$0
Accum. Other Comp. Income	$96M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.0B
Minority Interest	$6M
TOTAL EQUITY	$1.0B
TOTAL LIABILITIES & EQUITY	$2.9B
Total Debt	$1.1B
Net Debt	$797M