Vizio Holding Corp.
CIK:0001835591|SEC Filings
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions |
9 Months Ended | |
|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
|
| Cash flows from operating activities: | ||
| Net income (loss) | $ (11.4) | $ 15.0 |
| Adjustments to reconcile net (loss) income to net cash used in operating activities: | ||
| Depreciation and amortization | 8.4 | 5.6 |
| Realized gain on investments | (1.5) | 0.0 |
| Amortization of premium and discount on investments | (4.9) | (3.3) |
| Change in fair value of investment securities | (0.6) | 0.0 |
| Unrealized gain on conversion of convertible equity investments | (3.0) | 0.0 |
| Share-based compensation expense | 37.7 | 30.4 |
| Change in allowance for doubtful accounts | (0.5) | 0.9 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 57.8 | 11.4 |
| Other receivables due from related parties | 0.0 | 2.2 |
| Inventories | (42.3) | (2.1) |
| Income taxes receivable | (14.7) | 1.7 |
| Prepaid and other current assets | (9.3) | (3.7) |
| Other assets | (13.9) | (15.5) |
| Accounts payable due to related parties | (57.1) | (43.7) |
| Accounts payable | 63.6 | 19.4 |
| Accrued expenses | (0.5) | (29.4) |
| Accrued royalties | (11.4) | (6.6) |
| Income taxes payable | 0.0 | 1.0 |
| Other current liabilities | 3.0 | 1.2 |
| Other long-term liabilities | (0.5) | 0.4 |
| Net cash used in operating activities | (1.1) | (15.1) |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | (2.8) | (2.0) |
| Purchase of investments | (107.6) | (164.5) |
| Sale of investments | 2.0 | 0.0 |
| Maturity of investments | 107.9 | 105.9 |
| Net cash used in investing activities | (0.5) | (60.6) |
| Cash flows from financing activities: | ||
| Proceeds from the exercise of stock options | 3.4 | 1.9 |
| Withholding taxes paid on behalf of employees on net settled share-based awards | 0.0 | (0.6) |
| Proceeds from sale of stock under employee stock purchase plan | 1.2 | 1.2 |
| Net cash provided by financing activities | 4.6 | 2.5 |
| Effects of exchange rate changes on cash and cash equivalents | (0.1) | 0.0 |
| Net increase (decrease) in cash and cash equivalents | 2.9 | (73.2) |
| Cash and cash equivalents at beginning of period | 221.6 | 288.7 |
| Cash and cash equivalents at end of period | 224.5 | 215.5 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for income taxes | 8.4 | 5.1 |
| Cash paid for interest | 0.1 | 0.1 |
| Cash paid for amounts included in the measurement of operating lease liabilities | 3.8 | 3.3 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Right-of-use assets obtained in exchange for new operating lease liabilities | 2.7 | 1.8 |
| Additions to property and equipment financed by accounts payable | $ 0.2 | $ 0.7 |
Condensed Consolidated Balance Sheets - USD ($) $ in Millions |
Sep. 30, 2024 |
Dec. 31, 2023 |
||
|---|---|---|---|---|
| Current assets: | ||||
| Cash and cash equivalents | $ 224.5 | $ 221.6 | ||
| Short-term investments | 134.5 | 129.9 | ||
| Accounts receivable, net | 323.9 | 381.2 | ||
| Inventories | 49.1 | 6.8 | ||
| Income tax receivable | 23.7 | 9.0 | ||
| Prepaid and other current assets | 55.2 | 45.9 | ||
| Total current assets | 810.9 | 794.4 | ||
| Property, equipment and software, net | 17.5 | 19.7 | ||
| Goodwill | 44.8 | 44.8 | ||
| Deferred income taxes | 49.6 | 49.6 | ||
| Other assets | 66.1 | 52.2 | ||
| Total assets | 988.9 | 960.7 | ||
| Current liabilities: | ||||
| Accrued expenses | 178.0 | 178.6 | ||
| Accrued royalties | 29.3 | 40.7 | ||
| Other current liabilities | 8.8 | 5.8 | ||
| Total current liabilities | 489.7 | 492.0 | ||
| Other long-term liabilities | 18.9 | 19.4 | ||
| Total liabilities | 508.6 | 511.4 | ||
| Commitments and contingencies (Note 12) | ||||
| Stockholders’ equity: | ||||
| Preferred stock, $0.0001 par value; 100.0 shares authorized and no shares issued and outstanding as of September 30, 2024 and December 31, 2023 | 0.0 | 0.0 | ||
| Common stock, $0.0001 par value; 1,350.0 shares authorized as of September 30, 2024 and December 31, 2023 Class A, 127.2 and 125.3 shares issued and 127.2 and 121.5 shares outstanding as of September 30, 2024 and December 31, 2023, respectively Class B, 75.3 and 76.2 shares issued and 75.3 and 76.2 shares outstanding as of September 30, 2024 and December 31, 2023, respectively Class C, no shares issued and outstanding as of September 30, 2024 and December 31, 2023 | 0.0 | 0.0 | ||
| Additional paid-in capital | 456.8 | 414.3 | ||
| Accumulated other comprehensive loss | (0.4) | (0.3) | ||
| Retained earnings | 23.9 | 35.3 | ||
| Total stockholders’ equity | [1] | 480.3 | 449.3 | |
| Total liabilities and stockholders’ equity | 988.9 | 960.7 | ||
| Related Party | ||||
| Current liabilities: | ||||
| Accounts payable | 52.0 | 109.1 | ||
| Nonrelated Party | ||||
| Current liabilities: | ||||
| Accounts payable | $ 221.6 | $ 157.8 | ||
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