MODN · Model N, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 | Q1 '23 | Q3 '22 | Q2 '22 | Q1 '22 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $65.11M | $63.49M | $63.74M | $62.60M | $59.15M | $56.17M | $53.28M | $51.54M | $51.04M | $48.19M |
| Cost of Revenue | $27.87M | $27.87M | $27.27M | $27.62M | $26.27M | $24.81M | $24.05M | $22.65M | $23.45M | $23.38M |
| Gross Profit | $37.24M | $35.62M | $36.47M | $34.98M | $32.88M | $31.36M | $29.23M | $28.89M | $27.59M | $24.82M |
| R&D | $12.59M | $12.68M | $11.36M | $12.40M | $12.76M | $11.80M | $11.81M | $11.43M | $11.67M | $12.49M |
| SG&A | $12.12M | $11.65M | $8.85M | $11.48M | $10.69M | $9.86M | $9.32M | $8.44M | $8.65M | $7.61M |
| Total Operating Expenses | $39.86M | $38.29M | $33.54M | $38.11M | $36.43M | $33.45M | $33.17M | $30.91M | $31.47M | $31.62M |
| D&A | - | $1.96M | - | - | $2.27M | - | - | $2.24M | - | - |
| Operating Income | ($2.63M) | ($2.67M) | $2.93M | ($3.12M) | ($3.55M) | ($2.08M) | ($3.94M) | ($2.01M) | ($3.88M) | ($6.80M) |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $778.0K | $720.0K | $740.0K | $902.0K | $432.0K | $611.0K | $360.0K | $374.0K | $352.0K | $249.0K |
| Net Income | ($1.39M) | ($1.80M) | $2.82M | ($33.32M) | ($4.05M) | ($6.22M) | ($8.04M) | ($6.27M) | ($7.83M) | ($10.69M) |
| EPS - Basic | ($0.04) | ($0.05) | $0.07 | ($0.88) | ($0.11) | ($0.17) | ($0.22) | ($0.17) | ($0.22) | - |
| EPS - Diluted | ($0.04) | ($0.05) | $0.07 | ($0.88) | ($0.11) | ($0.17) | ($0.22) | ($0.17) | ($0.22) | - |
Balance Sheet
| Line item | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 | Q1 '23 | Q3 '22 | Q2 '22 | Q1 '22 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $334.56M | $303.38M | $301.36M | $270.64M | $175.19M | $193.52M | $170.46M | $155.51M | $165.47M | $148.34M |
| Accounts Receivable | $51.78M | $69.53M | $46.31M | $66.63M | $47.02M | $35.09M | $47.91M | $49.71M | $43.19M | $40.75M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $4.48M | $3.42M | $3.89M | $4.61M | $5.04M | $5.82M | $4.06M | $2.56M | $4.80M | $4.62M |
| Current Assets | $426.98M | $401.54M | $383.91M | $358.25M | $260.79M | $261.54M | $228.15M | $217.60M | $222.33M | $199.82M |
| Total Assets | $538.40M | $515.17M | $500.10M | $480.79M | $386.83M | $392.25M | $364.07M | $356.49M | $363.79M | $339.00M |
| Current Liabilities | $110.54M | $100.28M | $93.48M | $96.86M | $91.48M | $106.93M | $84.99M | $79.97M | $96.46M | $82.14M |
| Long-term Debt | $281.20M | $280.78M | $280.36M | $279.48M | $169.14M | $135.42M | $129.77M | $126.96M | $124.30M | $119.22M |
| Total Liabilities | $401.38M | $390.83M | $384.63M | $388.63M | $274.29M | $257.63M | $232.14M | $226.50M | $240.27M | $216.16M |
| Stockholders' Equity | $137.02M | $124.34M | $115.46M | $92.16M | $112.54M | $134.62M | $131.93M | $129.99M | $123.52M | $122.84M |
| Retained Earnings | ($300.05M) | ($298.66M) | ($296.86M) | ($300.31M) | ($266.99M) | ($284.44M) | ($270.12M) | ($262.08M) | ($255.81M) | ($241.91M) |
Cash Flow
| Line item | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 | Q1 '23 | Q3 '22 | Q2 '22 | Q1 '22 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | $2.10M | - | - | ($18.29M) | - | - | ($9.69M) | - | - |
| Investing Cash Flow | - | ($99.0K) | - | - | ($26.0K) | - | - | ($325.0K) | - | - |
| Financing Cash Flow | - | ($7.0K) | - | - | ($442.0K) | - | - | $348.0K | - | - |
| CapEx | - | $99.0K | - | - | $26.0K | - | - | $325.0K | - | - |
| Free Cash Flow | - | $2.01M | - | - | ($18.32M) | - | - | ($10.01M) | - | - |
Ratios
| Metric | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 | Q1 '23 | Q3 '22 | Q2 '22 | Q1 '22 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 57.2% | 56.1% | 57.2% | 55.9% | 55.6% | 55.8% | 54.9% | 56.1% | 54.1% | 51.5% |
| Operating margin | -4.0% | -4.2% | 4.6% | -5.0% | -6.0% | -3.7% | -7.4% | -3.9% | -7.6% | -14.1% |
| EBITDA margin | - | -1.1% | - | - | -2.2% | - | - | 0.4% | - | - |
| Net margin | -2.1% | -2.8% | 4.4% | -53.2% | -6.8% | -11.1% | -15.1% | -12.2% | -15.3% | -22.2% |
| Free cash flow margin | - | 3.2% | - | - | -31.0% | - | - | -19.4% | - | - |
| FCF / Net income | - | -1.12 | - | - | 4.52 | - | - | 1.60 | - | - |
| R&D / Revenue | 19.3% | 20.0% | 17.8% | 19.8% | 21.6% | 21.0% | 22.2% | 22.2% | 22.9% | 25.9% |
| SG&A / Revenue | 18.6% | 18.3% | 13.9% | 18.3% | 18.1% | 17.5% | 17.5% | 16.4% | 17.0% | 15.8% |
| Effective tax rate | - | - | 20.8% | - | - | - | - | - | - | - |
| Return on assets | -0.3% | -0.3% | 0.6% | -6.9% | -1.0% | -1.6% | -2.2% | -1.8% | -2.2% | -3.2% |
| Return on equity | -1.0% | -1.4% | 2.4% | -36.2% | -3.6% | -4.6% | -6.1% | -4.8% | -6.3% | -8.7% |
| Return on invested capital | -0.5% | -0.5% | 0.6% | -0.7% | -1.0% | -0.6% | -1.2% | -0.6% | -1.2% | -2.2% |
| Liquidity | ||||||||||
| Current ratio | 3.86 | 4.00 | 4.11 | 3.70 | 2.85 | 2.45 | 2.68 | 2.72 | 2.30 | 2.43 |
| Quick ratio | 3.86 | 4.00 | 4.11 | 3.70 | 2.85 | 2.45 | 2.68 | 2.72 | 2.30 | 2.43 |
| Cash ratio | 3.03 | 3.03 | 3.22 | 2.79 | 1.92 | 1.81 | 2.01 | 1.94 | 1.72 | 1.81 |
| Leverage | ||||||||||
| Debt / Equity | 2.05 | 2.26 | 2.43 | 3.03 | 1.50 | 1.01 | 0.98 | 0.98 | 1.01 | 0.97 |
| Debt / Assets | 0.52 | 0.55 | 0.56 | 0.58 | 0.44 | 0.35 | 0.36 | 0.36 | 0.34 | 0.35 |
| Debt / EBITDA | - | - | - | - | - | - | - | 561.76 | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 3.93 | 4.14 | 4.33 | 5.22 | 3.44 | 2.91 | 2.76 | 2.74 | 2.95 | 2.76 |
| Liabilities / Assets | 0.75 | 0.76 | 0.77 | 0.81 | 0.71 | 0.66 | 0.64 | 0.64 | 0.66 | 0.64 |
| Efficiency | ||||||||||
| Asset turnover | 0.12 | 0.12 | 0.13 | 0.13 | 0.15 | 0.14 | 0.15 | 0.14 | 0.14 | 0.14 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 290d | 400d | 265d | 388d | 290d | 228d | 328d | 352d | 309d | 309d |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 59d | 45d | 52d | 61d | 70d | 86d | 62d | 41d | 75d | 72d |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 4.0% | 7.3% | 13.5% | 17.5% | 14.8% | 10.1% | 10.6% | 20.6% | 23.7% | 20.6% |
| Revenue CAGR (3y) | 10.6% | 14.1% | 15.6% | 16.2% | 15.5% | 17.4% | 10.7% | 13.7% | 8.8% | 7.1% |
| Revenue CAGR (5y) | 10.7% | 12.6% | 10.0% | 9.8% | 8.7% | 10.4% | 9.9% | 12.9% | 12.8% | 13.1% |
| Gross profit growth (YoY) | 6.4% | 8.3% | 16.3% | 19.7% | 13.8% | 13.7% | 17.8% | 12.8% | 9.6% | 5.7% |
| Operating income growth (YoY) | 15.9% | 24.9% | - | 20.8% | -76.2% | 46.4% | 42.0% | -52.3% | -922.4% | -64.6% |
| Net income growth (YoY) | 95.8% | 55.6% | - | -314.5% | 35.4% | 20.6% | 24.8% | -21.6% | -228.9% | -130.8% |
| EPS growth (YoY) | 95.5% | 54.5% | - | -300.0% | 35.3% | 22.7% | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | -83.0% | - | - | -1697.1% | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 48.7% | 10.5% | -14.2% | -30.1% | -13.4% | 9.0% | 7.4% | 4.1% | -0.9% | 97.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2023-09-30.
Product / service
$249.46M totalLicense And Service$181.35M · 72.7%
Professional Services$68.11M · 27.3%
Peer comparison
Same SIC group: Services-Computer Programming, Data Processing, Etc.
Comparing MODEL N against the 5 most active filers in the same SIC group.