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10-Q Filing

EXPONENT INC CIK: 851520 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0000950170-23-018383
Period End Date 20230331
Filing Date 20230505
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance expo-20230331_htm.xml
Balance Sheet 66 line items
Line Item Tag Value Unit Period
Accounts receivable, net of allowance for contract losses and doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $6.19M USD Point-in-time
Accounts receivable, net of allowance for contract losses and doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $7.07M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $161.46M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $125.65M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 120.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 120.00M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 65.71M shares Point-in-time
Accounts receivable, net of allowance for contract losses and doubtful accounts of $7,069 and $6,193 at March 31, 2023 and December 30, 2022, respectively AccountsReceivableNetCurrent $173.06M USD Point-in-time
Accounts receivable, net of allowance for contract losses and doubtful accounts of $7,069 and $6,193 at March 31, 2023 and December 30, 2022, respectively AccountsReceivableNetCurrent $170.11M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 65.71M shares Point-in-time
Treasury stock, shares TreasuryStockShares 14.87M shares Point-in-time
Treasury stock, shares TreasuryStockShares 15.06M shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $19.59M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $17.59M USD Point-in-time
Total current assets AssetsCurrent $349.16M USD Point-in-time
Total current assets AssetsCurrent $318.30M USD Point-in-time
Property, equipment and leasehold improvements, net PropertyPlantAndEquipmentNet $69.41M USD Point-in-time
Property, equipment and leasehold improvements, net PropertyPlantAndEquipmentNet $65.54M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $18.01M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $16.63M USD Point-in-time
Goodwill Goodwill $8.61M USD Point-in-time
Goodwill Goodwill $8.61M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $52.18M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $53.91M USD Point-in-time
Deferred compensation plan assets DeferredCompensationPlanAssetsNoncurrent $89.44M USD Point-in-time
Deferred compensation plan assets DeferredCompensationPlanAssetsNoncurrent $98.98M USD Point-in-time
Other assets OtherAssetsNoncurrent $2.31M USD Point-in-time
Other assets OtherAssetsNoncurrent $2.01M USD Point-in-time
Total assets Assets $586.66M USD Point-in-time
Total assets Assets $566.43M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $29.11M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $26.32M USD Point-in-time
Accrued payroll and employee benefits EmployeeRelatedLiabilitiesCurrent $105.82M USD Point-in-time
Accrued payroll and employee benefits EmployeeRelatedLiabilitiesCurrent $63.39M USD Point-in-time
Deferred revenues ContractWithCustomerLiabilityCurrent $14.57M USD Point-in-time
Deferred revenues ContractWithCustomerLiabilityCurrent $18.83M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $4.90M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $5.26M USD Point-in-time
Total current liabilities LiabilitiesCurrent $109.18M USD Point-in-time
Total current liabilities LiabilitiesCurrent $159.03M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $2.51M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $2.35M USD Point-in-time
Deferred compensation plan liabilities DeferredCompensationLiabilityClassifiedNoncurrent $101.33M USD Point-in-time
Deferred compensation plan liabilities DeferredCompensationLiabilityClassifiedNoncurrent $91.18M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $11.55M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $13.34M USD Point-in-time
Total liabilities Liabilities $265.91M USD Point-in-time
Total liabilities Liabilities $224.57M USD Point-in-time
Common stock, $0.001 par value; 120,000 shares authorized; 65,707 shares issued at March 31, 2023 and December 30, 2022 CommonStockValue $66.00K USD Point-in-time
Common stock, $0.001 par value; 120,000 shares authorized; 65,707 shares issued at March 31, 2023 and December 30, 2022 CommonStockValue $66.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $314.50M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $301.00M USD Point-in-time
Foreign currency translation adjustments AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $-3.59M USD Point-in-time
Foreign currency translation adjustments AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $-3.13M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $542.98M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $528.81M USD Point-in-time
Treasury stock, at cost; 14,872 and 15,064 shares held at March 31, 2023 and December 30, 2022, respectively TreasuryStockValue $512.57M USD Point-in-time
Treasury stock, at cost; 14,872 and 15,064 shares held at March 31, 2023 and December 30, 2022, respectively TreasuryStockValue $505.54M USD Point-in-time
Total stockholders equity StockholdersEquity $320.75M USD Point-in-time
Total stockholders equity StockholdersEquity $417.06M USD Point-in-time
Total stockholders equity StockholdersEquity $341.86M USD Point-in-time
Total stockholders equity StockholdersEquity $386.56M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $586.66M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $566.43M USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Revenues before reimbursements RevenueBeforeReimbursements $128.71M USD 1 Quarter
Revenues before reimbursements RevenueBeforeReimbursements $117.87M USD 1 Quarter
Reimbursements RevenueFromReimbursement $10.61M USD 1 Quarter
Reimbursements RevenueFromReimbursement $11.60M USD 1 Quarter
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $128.48M USD 1 Quarter
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $140.31M USD 1 Quarter
Compensation and related expenses LaborAndRelatedExpense $84.18M USD 1 Quarter
Compensation and related expenses LaborAndRelatedExpense $68.76M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $8.16M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $9.56M USD 1 Quarter
Reimbursable expenses CostIncurredFromReimbursableExpense $10.61M USD 1 Quarter
Reimbursable expenses CostIncurredFromReimbursableExpense $11.60M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $4.23M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $5.84M USD 1 Quarter
Total operating expenses OperatingExpenses $111.19M USD 1 Quarter
Total operating expenses OperatingExpenses $91.76M USD 1 Quarter
Operating income OperatingIncomeLoss $29.12M USD 1 Quarter
Operating income OperatingIncomeLoss $36.72M USD 1 Quarter
Interest income, net InvestmentIncomeNet $21.00K USD 1 Quarter
Interest income, net InvestmentIncomeNet $1.77M USD 1 Quarter
Miscellaneous income (loss), net OtherNonoperatingIncomeExpense $4.65M USD 1 Quarter
Miscellaneous income (loss), net OtherNonoperatingIncomeExpense $-3.93M USD 1 Quarter
Total other income (loss), net NonoperatingIncomeExpense $6.42M USD 1 Quarter
Total other income (loss), net NonoperatingIncomeExpense $-3.91M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $35.54M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $32.81M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $6.41M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $3.20M USD 1 Quarter
Net income NetIncomeLoss $29.12M USD 1 Quarter
Net income NetIncomeLoss $29.61M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.56 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.57 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.56 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.56 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 51.13M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 52.42M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 51.68M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 53.04M shares 1 Quarter
Cash dividends declared per common share (in dollars per share) CommonStockDividendsPerShareDeclared $0.24 USD 1 Quarter
Cash dividends declared per common share (in dollars per share) CommonStockDividendsPerShareDeclared $0.26 USD 1 Quarter
Cash Flow Statement 49 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $29.61M USD 1 Quarter
Net income ProfitLoss $29.12M USD 1 Quarter
Depreciation and amortization of property, equipment and leasehold improvements DepreciationAndAmortization $1.99M USD 1 Quarter
Depreciation and amortization of property, equipment and leasehold improvements DepreciationAndAmortization $1.69M USD 1 Quarter
Provision for contract losses and doubtful accounts ProvisionForDoubtfulAccounts $892.00K USD 1 Quarter
Provision for contract losses and doubtful accounts ProvisionForDoubtfulAccounts $686.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $6.87M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $7.06M USD 1 Quarter
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $1.73M USD 1 Quarter
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $45.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $8.33M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $3.84M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $9.95M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $7.78M USD 1 Quarter
Change in operating leases IncreaseDecreaseInOperationLeaseRightOfUseAssets $535.00K USD 1 Quarter
Change in operating leases IncreaseDecreaseInOperationLeaseRightOfUseAssets $774.00K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-2.27M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $5.23M USD 1 Quarter
Accrued payroll and employee benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-28.56M USD 1 Quarter
Accrued payroll and employee benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-27.58M USD 1 Quarter
Deferred revenues IncreaseDecreaseInContractWithCustomerLiability $-4.09M USD 1 Quarter
Deferred revenues IncreaseDecreaseInContractWithCustomerLiability $-4.27M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-6.35M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-6.70M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $5.67M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $2.61M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-2.61M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-5.67M USD 1 Quarter
Payroll taxes for restricted stock units PaymentsRelatedToTaxWithholdingForShareBasedCompensation $9.92M USD 1 Quarter
Payroll taxes for restricted stock units PaymentsRelatedToTaxWithholdingForShareBasedCompensation $12.90M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $48.55M USD 1 Quarter
Exercise of stock-based payment awards ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $680.00K USD 1 Quarter
Exercise of stock-based payment awards ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $564.00K USD 1 Quarter
Dividends and dividend equivalents rights PaymentsOfDividends $12.51M USD 1 Quarter
Dividends and dividend equivalents rights PaymentsOfDividends $14.50M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-73.41M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-23.74M USD 1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $302.00K USD 1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-271.00K USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-82.64M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-35.81M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $161.46M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $297.69M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $215.05M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $125.65M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $161.46M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $297.69M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $215.05M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $125.65M USD Point-in-time
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $320.75M USD Point-in-time
Balance StockholdersEquity $417.06M USD Point-in-time
Balance StockholdersEquity $341.86M USD Point-in-time
Balance StockholdersEquity $386.56M USD Point-in-time
Employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $580.00K USD 1 Quarter
Employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $564.00K USD 1 Quarter
Amortization of unrecognized stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $4.09M USD 1 Quarter
Amortization of unrecognized stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $4.21M USD 1 Quarter
Purchase of treasury stock StockRepurchasedDuringPeriodValue $48.55M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $460.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-310.00K USD 1 Quarter
Grant of restricted stock units to settle accrued bonus StockGrantedDuringPeriodValueSharebasedCompensation $10.50M USD 1 Quarter
Grant of restricted stock units to settle accrued bonus StockGrantedDuringPeriodValueSharebasedCompensation $10.20M USD 1 Quarter
Settlement of restricted stock units StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-12.90M USD 1 Quarter
Settlement of restricted stock units StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-9.92M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $100.00K USD 1 Quarter
Dividends and dividend equivalent rights Dividends $13.94M USD 1 Quarter
Dividends and dividend equivalent rights Dividends $13.20M USD 1 Quarter
Net income NetIncomeLoss $29.12M USD 1 Quarter
Net income NetIncomeLoss $29.61M USD 1 Quarter
Balance StockholdersEquity $320.75M USD Point-in-time
Balance StockholdersEquity $417.06M USD Point-in-time
Balance StockholdersEquity $341.86M USD Point-in-time
Balance StockholdersEquity $386.56M USD Point-in-time
Comprehensive Income 6 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $29.12M USD 1 Quarter
Net income NetIncomeLoss $29.61M USD 1 Quarter
Foreign currency translation adjustments, net of tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-310.00K USD 1 Quarter
Foreign currency translation adjustments, net of tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $460.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $29.58M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $29.30M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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