10-Q Filing

UBIQUITI INC. CIK: 1511737 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-032724`
Period End Date	20111231
Filing Date	20120201
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	ubnt-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 78 Cash Flow Statement 58 Stockholders Equity 15

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$596.00K	USD	Point-in-time
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$64.84M	USD	Point-in-time
Redeemable convertible preferred stock, par value	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$58.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.41M	USD	Point-in-time
Redeemable convertible preferred stock, par value	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$76.36M	USD	Point-in-time
Redeemable convertible preferred stock, shares authorized	`TemporaryEquitySharesAuthorized`	36.03M	shares	Point-in-time
Redeemable convertible preferred stock, shares authorized	`TemporaryEquitySharesAuthorized`	36.03M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,160 and $596, respectively	`AccountsReceivableNetCurrent`	$61.42M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,160 and $596, respectively	`AccountsReceivableNetCurrent`	$39.81M	USD	Point-in-time
Redeemable convertible preferred stock, shares issued	`TemporaryEquitySharesIssued`	36.03M	shares	Point-in-time
Redeemable convertible preferred stock, shares issued	`TemporaryEquitySharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$8.98M	USD	Point-in-time
Inventories	`InventoryNet`	$5.66M	USD	Point-in-time
Deferred cost of revenues	`DeferredCostsCurrent`	$881.00K	USD	Point-in-time
Redeemable convertible preferred stock, shares outstanding	`TemporaryEquitySharesOutstanding`	0.00	shares	Point-in-time
Deferred cost of revenues	`DeferredCostsCurrent`	$921.00K	USD	Point-in-time
Redeemable convertible preferred stock, shares outstanding	`TemporaryEquitySharesOutstanding`	36.03M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.39M	USD	Point-in-time
Redeemable convertible preferred stock, maximum liquidation preference	`TemporaryEquityLiquidationPreference`	-	USD	Point-in-time
Redeemable convertible preferred stock, maximum liquidation preference	`TemporaryEquityLiquidationPreference`	$145.85M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.36M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$141.52M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$128.10M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.02M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.91M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	62.69M	shares	Point-in-time
Long-term deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$324.00K	USD	Point-in-time
Long-term deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$324.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.85M	shares	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$410.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	39.08M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	39.08M	shares	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.23M	USD	Point-in-time
Total assets	`Assets`	$144.16M	USD	Point-in-time
Total assets	`Assets`	$131.68M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.76M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$1.68M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$2.01M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$2.38M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$1.73M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$4.43M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$230.00K	USD	Point-in-time
Debt - short-term	`ShortTermBorrowings`	$6.96M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$15.21M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$14.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$41.07M	USD	Point-in-time
Income and deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.87M	USD	Point-in-time
Income and deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.87M	USD	Point-in-time
Debt - long - term	`LongTermDebtNoncurrent`	$26.11M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$32.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$32.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$39.70M	USD	Point-in-time
Total liabilities	`Liabilities`	$69.08M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Redeemable convertible preferred stock-$0.001 par value; 36,034,630 shares authorized: Zero and 36,034,630 shares issued and outstanding at December 31, 2011 and June 30, 2011, respectively; maximum liquidation preference of $0 and $145,847 as of December 31, 2011 and June 30, 2011, respectively	`TemporaryEquityCarryingAmount`	$145.85M	USD	Point-in-time
Common stock-$0.001 par value; 150,000,000 shares authorized: 91,850,697, and 62,685,955 outstanding at December 31, 2011 and June 30, 2011, respectively	`CommonStockValue`	$63.00K	USD	Point-in-time
Common stock-$0.001 par value; 150,000,000 shares authorized: 91,850,697, and 62,685,955 outstanding at December 31, 2011 and June 30, 2011, respectively	`CommonStockValue`	$92.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$129.52M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$545.00K	USD	Point-in-time
Treasury stock-39,079,910 shares held in treasury at December 31, 2011 and June 30, 2011	`TreasuryStockValue`	$69.52M	USD	Point-in-time
Treasury stock-39,079,910 shares held in treasury at December 31, 2011 and June 30, 2011	`TreasuryStockValue`	$69.52M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.04M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$14.99M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-53.87M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$75.08M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$144.16M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$131.68M	USD	Point-in-time

Income Statement 78 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$79.17M	USD	2 Qtrs
Revenues	`SalesRevenueNet`	$166.98M	USD	2 Qtrs
Revenues	`SalesRevenueNet`	$45.09M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$87.82M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$96.68M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$47.50M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$50.53M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$27.05M	USD	1 Quarter
Gross profit	`GrossProfit`	$70.30M	USD	2 Qtrs
Gross profit	`GrossProfit`	$37.29M	USD	1 Quarter
Gross profit	`GrossProfit`	$31.67M	USD	2 Qtrs
Gross profit	`GrossProfit`	$18.04M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.68M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$7.05M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$5.10M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.60M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.42M	USD	2 Qtrs
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.76M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.58M	USD	2 Qtrs
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.43M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.11M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$11.63M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$4.36M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.52M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$58.68M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$23.15M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$13.68M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$31.18M	USD	1 Quarter
Interest income (expense) and other, net	`InvestmentIncomeInterest`	$34.00K	USD	1 Quarter
Interest income (expense) and other, net	`InvestmentIncomeInterest`	$-312.00K	USD	1 Quarter
Interest income (expense) and other, net	`InvestmentIncomeInterest`	$41.00K	USD	2 Qtrs
Interest income (expense) and other, net	`InvestmentIncomeInterest`	$-946.00K	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$23.19M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$30.86M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$13.71M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$57.53M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.74M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.63M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.17M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.55M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$18.56M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$24.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$46.18M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$10.98M	USD	1 Quarter
Preferred stock cumulative dividend and accretion of cost of preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$112.43M	USD	2 Qtrs
Preferred stock cumulative dividend and accretion of cost of preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$4.62M	USD	1 Quarter
Preferred stock cumulative dividend and accretion of cost of preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$9.70M	USD	1 Quarter
Preferred stock cumulative dividend and accretion of cost of preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$6.40M	USD	2 Qtrs
Less allocation of net income to participating preferred stockholders	`LessAllocationOfNetIncomeToParticipatingPreferredStockholders`	$2.32M	USD	1 Quarter
Less allocation of net income to participating preferred stockholders	`LessAllocationOfNetIncomeToParticipatingPreferredStockholders`	$4.40M	USD	2 Qtrs
Less allocation of net income to participating preferred stockholders	`LessAllocationOfNetIncomeToParticipatingPreferredStockholders`	$559.00K	USD	1 Quarter
Net income (loss) attributable to common stockholders-basic	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-66.25M	USD	2 Qtrs
Net income (loss) attributable to common stockholders-basic	`NetIncomeLossAvailableToCommonStockholdersBasic`	$14.43M	USD	1 Quarter
Net income (loss) attributable to common stockholders-basic	`NetIncomeLossAvailableToCommonStockholdersBasic`	$7.76M	USD	2 Qtrs
Net income (loss) attributable to common stockholders-basic	`NetIncomeLossAvailableToCommonStockholdersBasic`	$4.04M	USD	1 Quarter
Undistributed earnings re-allocated to common stockholders	`UndistributedEarnings`	$85.00K	USD	1 Quarter
Undistributed earnings re-allocated to common stockholders	`UndistributedEarnings`	$156.00K	USD	2 Qtrs
Undistributed earnings re-allocated to common stockholders	`UndistributedEarnings`	$15.00K	USD	1 Quarter
Net income (loss) attributable to common stockholders-diluted	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-66.25M	USD	2 Qtrs
Net income (loss) attributable to common stockholders-diluted	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$14.44M	USD	1 Quarter
Net income (loss) attributable to common stockholders-diluted	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$4.12M	USD	1 Quarter
Net income (loss) attributable to common stockholders-diluted	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$7.92M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.88	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.12	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.88	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.12	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	75.10M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	63.55M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	62.61M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	87.49M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	66.35M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	67.20M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	75.10M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	90.06M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$18.56M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$24.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$46.18M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$10.98M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$227.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$81.00K	USD	2 Qtrs
Provision for inventory obsolescence	`InventoryWriteDown`	$505.00K	USD	2 Qtrs
Provision for inventory obsolescence	`InventoryWriteDown`	$133.00K	USD	2 Qtrs
Excess tax benefit from employee stock-based awards	`ProceedsAndExcessTaxBenefitFromSharebasedCompensation`	$-11.42M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$702.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$419.00K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-204.00K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$564.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.63M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$22.17M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-880.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$3.82M	USD	2 Qtrs
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$40.00K	USD	2 Qtrs
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$-2.09M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-998.00K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.49M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$697.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.66M	USD	2 Qtrs
Taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$9.06M	USD	2 Qtrs
Taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$721.00K	USD	2 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$648.00K	USD	2 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-2.32M	USD	2 Qtrs
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-2.16M	USD	2 Qtrs
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$2.88M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$19.97M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$38.03M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$109.00K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.11M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-109.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.11M	USD	2 Qtrs
Proceeds from term loan, net of issuance costs	`ProceedsFromDebtNetOfIssuanceCosts`	$34.82M	USD	2 Qtrs
Payments on term loan balance	`PaymentsForLoans`	$1.75M	USD	2 Qtrs
Repurchase of Series A convertible preferred stock	`PaymentsForRepurchaseOfConvertiblePreferredStock`	$108.00M	USD	2 Qtrs
Issuance of convertible subordinated promissory notes	`ProceedsFromIssuanceOfSubordinatedLongTermDebt`	$68.00M	USD	2 Qtrs
Payment of convertible subordinated promissory notes	`PaymentOfConvertibleSubordinatedPromissoryNotes`	$68.00M	USD	2 Qtrs
Proceeds from shares issued in initial public offering, net of offering costs	`ProceedsFromIssuanceInitialPublicOffering`	$32.62M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$511.00K	USD	2 Qtrs
Other repurchases of common stock and outstanding awards	`PaymentsForRepurchaseOfCommonStock`	$7.25M	USD	2 Qtrs
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromEmployeeStockBasedAwards`	$11.42M	USD	2 Qtrs
Payment of deferred offering costs	`PaymentsOfStockIssuanceCosts`	$231.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.48M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-30.38M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$30.44M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.52M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$64.84M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$58.85M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$28.41M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$76.36M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$64.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$58.85M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$28.41M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$76.36M	USD	Point-in-time
Conversion of preferred stock into common stock in conjunction with initial public offering	`ConversionOfPreferredStockIntoCommonStockInConjunctionWithInitialPublicOffering`	$150.28M	USD	2 Qtrs

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-53.87M	USD	Point-in-time
Balance	`StockholdersEquity`	$75.08M	USD	Point-in-time
Net income	`NetIncomeLoss`	$18.56M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$24.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$46.18M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$10.98M	USD	1 Quarter
Accretion of costs of Series A convertible preferred stock	`PreferredStockAccretionOfRedemptionDiscount`	$111.53M	USD	2 Qtrs
Dividend on Series A convertible preferred stock	`DividendsPreferredStock`	$896.00K	USD	2 Qtrs
Conversion of preferred stock into common stock in conjunction with initial public offering	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$150.28M	USD	2 Qtrs
Issuance of common stock pursuant to initial public offering, net of offering expenses	`StockIssuedDuringPeriodValueNewIssues`	$30.45M	USD	2 Qtrs
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$511.00K	USD	2 Qtrs
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$702.00K	USD	2 Qtrs
Tax impact of employee stock transactions	`IncomeTaxEffectsAllocatedDirectlyToEquityEmployeeStockOptions`	$-13.26M	USD	2 Qtrs
Balance	`StockholdersEquity`	$-53.87M	USD	Point-in-time
Balance	`StockholdersEquity`	$75.08M	USD	Point-in-time

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