Model N (MODN) Quarterly Balance Sheet

Balance Sheet Summary

Model N (MODN) quarterly balance sheet covering the six quarters from December 2022 to March 2024, as reported to the SEC.

Model N had total assets of $538.4M and total liabilities of $401.38M as of March 31, 2024. That leaves shareholders' equity of $137.02M.
Total assets were up 12% from $480.79M a year earlier.
Total current assets of $426.98M were 3.9 times total current liabilities of $110.54M.
Cash and cash equivalents were $334.56M, up 23.6% from $270.64M. That is 62.1% of total assets.
Long term debt was $281.2M, or 52.2% of total assets, up 0.62% from $279.48M.
Model N has an accumulated deficit of $300.05M.

A balance sheet shows what a company owns and what it owes on a single date. The difference between the two belongs to shareholders.

Figures in USD thousands

						Mar'24	Dec'23	Sep'23	Jun'23	Mar'23	Dec'22
Assets
Current assets
Cash and cash equivalents
334,559	303,375	301,355	299,581	270,643	175,194	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cash and cash equivalents						334,559	303,375	301,355	299,581	270,643	175,194	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Funds held for customers
86	84	91	117	229	134	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Funds held for customers						86	84	91	117	229	134	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accounts receivable, net of allowance for credit losses of $516 as of March 31, 2024, and $496 as of September 30, 2023
79,260	83,077	61,761	51,866	76,021	66,118	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accounts receivable, net of allowance for credit losses of $516 as of March 31, 2024, and $496 as of September 30, 2023						79,260	83,077	61,761	51,866	76,021	66,118	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Short-term investments
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Short-term investments						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accounts receivable, net of allowance for doubtful accounts of $185 as of #VALUE! and $225 as of September 30, 2021
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accounts receivable, net of allowance for doubtful accounts of $185 as of #VALUE! and $225 as of September 30, 2021						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred cost of implementation services, current portion
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred cost of implementation services, current portion						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Prepaid expenses
4,610	5,115	5,922	4,181	3,648	5,137	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Prepaid expenses						4,610	5,115	5,922	4,181	3,648	5,137	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other current assets
8,462	9,893	14,777	8,574	7,709	14,209	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other current assets						8,462	9,893	14,777	8,574	7,709	14,209	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total current assets
426,977	401,544	383,906	364,319	358,250	260,792	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total current assets						426,977	401,544	383,906	364,319	358,250	260,792	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Property and equipment, net
1,125	1,049	1,242	1,260	1,422	1,566	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Property and equipment, net						1,125	1,049	1,242	1,260	1,422	1,566	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating lease right-of-use assets
7,707	8,779	9,885	11,030	12,117	13,175	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating lease right-of-use assets						7,707	8,779	9,885	11,030	12,117	13,175	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Goodwill
65,665	65,665	65,665	65,665	65,665	65,665	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Goodwill						65,665	65,665	65,665	65,665	65,665	65,665	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Intangible assets, net
26,795	28,450	30,176	31,902	33,628	35,354	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Intangible assets, net						26,795	28,450	30,176	31,902	33,628	35,354	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other assets
10,131	9,687	9,221	9,134	9,710	10,277	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other assets						10,131	9,687	9,221	9,134	9,710	10,277	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total assets
538,400	515,174	500,095	483,310	480,792	386,829	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total assets						538,400	515,174	500,095	483,310	480,792	386,829	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable
4,483	3,423	3,888	4,615	4,610	5,040	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accounts payable						4,483	3,423	3,888	4,615	4,610	5,040	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Customer funds payable
86	84	91	117	241	134	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Customer funds payable						86	84	91	117	241	134	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accrued employee compensation
14,257	12,064	14,645	13,205	11,758	11,014	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accrued employee compensation						14,257	12,064	14,645	13,205	11,758	11,014	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accrued liabilities
5,485	6,060	8,700	5,966	4,849	3,621	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accrued liabilities						5,485	6,060	8,700	5,966	4,849	3,621	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating lease liabilities, current portion
4,151	4,254	4,408	4,577	4,606	4,586	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating lease liabilities, current portion						4,151	4,254	4,408	4,577	4,606	4,586	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred revenue, current portion
82,074	74,393	61,745	59,825	70,792	67,081	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred revenue, current portion						82,074	74,393	61,745	59,825	70,792	67,081	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Long-term debt, current portion
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Long-term debt, current portion						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Capital lease obligations, current portion
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Capital lease obligations, current portion						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loan obligations, current portion
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loan obligations, current portion						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total current liabilities
110,536	100,278	93,477	88,305	96,856	91,476	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total current liabilities						110,536	100,278	93,477	88,305	96,856	91,476	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred revenue, net of current portion
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred revenue, net of current portion						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Long term debt
281,203	280,779	280,358	279,895	279,477	169,439	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Long term debt						281,203	280,779	280,358	279,895	279,477	169,439	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating lease liabilities, less current portion
4,705	5,740	6,755	7,786	8,895	10,013	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating lease liabilities, less current portion						4,705	5,740	6,755	7,786	8,895	10,013	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Capital lease obligation, net of current portion
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Capital lease obligation, net of current portion						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loan obligations, net of current portion
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loan obligations, net of current portion						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other long-term liabilities
4,933	4,034	4,042	3,693	3,403	3,364	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other long-term liabilities						4,933	4,034	4,042	3,693	3,403	3,364	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total liabilities
401,377	390,831	384,632	379,679	388,631	274,292	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total liabilities						401,377	390,831	384,632	379,679	388,631	274,292	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Commitments and contingencies
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Commitments and contingencies						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Convertible preferred stock, $0.0005 par value; no shares authorized, issued and outstanding at September 30, 2019 and 2018, respectively
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Convertible preferred stock, $0.0005 par value; no shares authorized, issued and outstanding at September 30, 2019 and 2018, respectively						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Stockholders’ equity
Common Stock, $0.00015 par value; 200,000 shares authorized; 39,423 and 38,764 shares issued and outstanding at March 31, 2024, and September 30, 2023, respectively
6	6	6	6	6	6	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Common Stock, $0.00015 par value; 200,000 shares authorized; 39,423 and 38,764 shares issued and outstanding at March 31, 2024, and September 30, 2023, respectively						6	6	6	6	6	6	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Preferred Stock, $0.00015 par value; 5,000 shares authorized; no shares issued and outstanding
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Preferred Stock, $0.00015 par value; 5,000 shares authorized; no shares issued and outstanding						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Additional paid-in capital
439,297	425,127	414,562	403,218	394,622	381,733	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Additional paid-in capital						439,297	425,127	414,562	403,218	394,622	381,733	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accumulated other comprehensive loss
-2,235	-2,132	-2,245	-2,104	-2,160	-2,214	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accumulated other comprehensive loss						-2,235	-2,132	-2,245	-2,104	-2,160	-2,214	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accumulated deficit
-300,045	-298,658	-296,860	-297,489	-300,307	-266,988	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accumulated deficit						-300,045	-298,658	-296,860	-297,489	-300,307	-266,988	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total stockholders’ equity
137,023	124,343	115,463	103,631	92,161	112,537	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total stockholders’ equity						137,023	124,343	115,463	103,631	92,161	112,537	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total liabilities and stockholders’ equity
538,400	515,174	500,095	483,310	480,792	386,829	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total liabilities and stockholders’ equity						538,400	515,174	500,095	483,310	480,792	386,829	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx