Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2019
- Operating Profit Margin since 2019
- Current Ratio since 2019
- Debt to Equity since 2019
- Price to Earnings (P/E) since 2019
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Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
The analysis of the financial data over the observed periods reveals several notable trends and patterns across key asset categories and overall asset growth.
- Cash and cash equivalents
- The cash and cash equivalents show volatility throughout the periods. Starting at approximately $194 million in March 2020, the balance increases significantly in the first quarter of 2021, peaking multiple times, notably reaching over $1.2 billion by March 2025. This sharp increase in the final periods suggests a substantial accumulation of liquid assets, possibly reflecting enhanced liquidity or proceeds from financing activities.
- Marketable securities
- Marketable securities exhibit a consistent upward trend from about $600 million in early 2020 to approximately $3.37 billion by March 2025. The steady accumulation indicates a strategic buildup of investments easily convertible to cash, ensuring liquidity and potentially generating investment income.
- Accounts receivable, net of allowance for credit losses
- Accounts receivable have generally increased from $108 million in March 2020 to a peak near $599 million in September 2024, before showing a decrease in the last recorded period to around $490 million. This growth trend implies expanding sales or services on credit, with the slight decline possibly indicating improved collection or a change in credit policies.
- Deferred contract costs (current and non-current)
- Both current and non-current deferred contract costs steadily rise across the timeline. Current deferred contract costs nearly sextuple from about $9.3 million to $58.8 million, while non-current costs grow from around $19 million to over $90 million by March 2025. This consistent increase reflects ongoing investments in contract acquisition or fulfillment costs, possibly tied to subscription or service agreements.
- Prepaid expenses and other current assets
- Prepaid expenses and other current assets initially vary but show a notable increase, especially in recent years with a rise from about $20.6 million to over $77.6 million by the end of the dataset, indicating higher upfront payments or asset accumulation.
- Property and equipment, net
- Property and equipment display a steady upward trajectory, increasing from approximately $34 million to nearly $250 million over the five-year period, signaling ongoing capital investments in fixed assets.
- Operating lease assets
- Operating lease assets fluctuate but generally trend upward, progressing from about $51 million to over $203 million. The sharp increases at certain intervals may correspond to new lease agreements or lease modifications.
- Goodwill
- Goodwill experiences significant growth starting in early 2021, jumping from around $17,000 to over $360 million by March 2025. This dramatic rise likely indicates acquisitions and business combinations contributing to the intangible asset base.
- Intangible assets, net
- Intangible assets show a different pattern, initially rising before consistently declining from around $15 million to approximately $2.6 million by March 2025, which could suggest amortization outpacing additions or disposal of intangible assets.
- Other assets
- Other assets appear relatively stable with slight fluctuations, oscillating around the $16 million to $26 million range, showing minor adjustments over time without a clear trend.
- Restricted cash
- Restricted cash remains relatively stable in the early periods, starting around $3.4 million and declining slightly, before no data appears in later periods, indicating either reclassification or the absence of restricted cash in recent reporting.
- Current and non-current assets
- Current assets demonstrate substantial growth from roughly $933 million in March 2020 to over $5 billion by early 2025, indicative of expanding operational scale and liquidity. Similarly, non-current assets increase significantly from about $134 million to approximately $934 million, reflecting greater long-term investments.
- Total assets
- Total assets steadily increase throughout all periods, beginning at around $1.07 billion in early 2020 and culminating in excess of $6 billion by March 2025. This consistent asset growth indicates expanding corporate size, investment, and possibly increasing business complexity.
Overall, the data reflect strong asset growth, driven by increases in cash, marketable securities, goodwill, and deferred contract costs. Fixed assets and lease assets also grow steadily, supporting operational expansion. The significant rise in goodwill suggests active acquisition strategies. Meanwhile, the growth in receivables and prepaid expenses points to increasing business volume and operating activities. The balanced increase across current and non-current assets contributes to a robust increase in total assets over the period analyzed.