Qad (QADA) Annual Income Statement

Income Statement Summary

Qad (QADA) annual income statement covering fiscal 2016 through 2021, as reported to the SEC.

Qad reported revenues of $307.87M in fiscal 2021, down 0.94% from $310.77M in fiscal 2020.
Gross profit was $182.49M, up 6.8% from $170.86M. That is a gross margin of 59.3%.
Operating income was $12.7M, after a loss of $5.69M in fiscal 2020. Operating margin was 4.1%.
Net income was $11.06M, after a loss of $15.95M in fiscal 2020. Net margin was 3.6%.
Costs of revenues took 40.7% of revenues, research and development 18.2% and general and administrative 13.5%.

Revenues have grown 2.1% a year on average since fiscal 2016, from $277.85M to $307.87M.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Jan'21	Jan'20	Jan'19	Jan'18	Jan'17	Jan'16
Revenue:
Revenues
307,865	310,772	333,016	305,018	277,973	277,852	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues						307,865	310,772	333,016	305,018	277,973	277,852	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Costs of revenue:
Costs of revenues
125,372	139,909	155,884	149,425	130,851	126,562	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Costs of revenues						125,372	139,909	155,884	149,425	130,851	126,562	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit
182,493	170,863	177,132	155,593	147,122	151,290	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit						182,493	170,863	177,132	155,593	147,122	151,290	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating expenses:
Sales and marketing
71,779	82,115	78,207	75,368	67,194	66,535	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Sales and marketing						71,779	82,115	78,207	75,368	67,194	66,535	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Research and development
56,100	54,700	54,000	47,661	43,587	41,237	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Research and development						56,100	54,700	54,000	47,661	43,587	41,237	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative
41,643	39,442	35,248	35,222	32,318	32,689	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative						41,643	39,442	35,248	35,222	32,318	32,689	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of intangible assets from acquisitions
300	300	100	416	659	658	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of intangible assets from acquisitions						300	300	100	416	659	658	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses
169,795	176,551	167,559	158,667	143,758	141,119	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses						169,795	176,551	167,559	158,667	143,758	141,119	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating (loss) income
12,698	-5,688	9,573	-3,074	3,364	10,171	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating (loss) income						12,698	-5,688	9,573	-3,074	3,364	10,171	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other (income) expense:
Interest income
923	2,782	2,600	1,547	696	320	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income						923	2,782	2,600	1,547	696	320	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense
591	630	643	669	670	712	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense						591	630	643	669	670	712	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other (income) expense, net
-2,209	-68	387	-2,012	436	757	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other (income) expense, net						-2,209	-68	387	-2,012	436	757	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other (income) expense, net
-1,877	2,084	2,344	-1,134	462	365	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other (income) expense, net						-1,877	2,084	2,344	-1,134	462	365	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Loss) income before income taxes
10,821	-3,604	11,917	-4,208	3,826	10,536	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Loss) income before income taxes						10,821	-3,604	11,917	-4,208	3,826	10,536	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax expense (benefit)
-244	12,345	1,489	4,857	19,276	1,624	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax expense (benefit)						-244	12,345	1,489	4,857	19,276	1,624	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net (loss) income
11,065	-15,949	10,428	-9,065	-15,450	8,912	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net (loss) income						11,065	-15,949	10,428	-9,065	-15,450	8,912	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted net (loss) income per share
Net loss
11,065	-15,949	10,428	-9,065	-15,450	8,912	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss						11,065	-15,949	10,428	-9,065	-15,450	8,912	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Foreign currency translation adjustment
157	-684	-833	1,803	98	-1,311	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Foreign currency translation adjustment						157	-684	-833	1,803	98	-1,311	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total comprehensive (loss) income
11,222	-16,633	9,595	-7,262	-15,352	7,601	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total comprehensive (loss) income						11,222	-16,633	9,595	-7,262	-15,352	7,601	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Subscription and Circulation [Member]
Revenues
131,133	107,168	91,861	69,615	52,167	38,806	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues						131,133	107,168	91,861	69,615	52,167	38,806	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Costs of revenues
42,369	38,451	34,128	30,563	27,027	20,635	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Costs of revenues						42,369	38,451	34,128	30,563	27,027	20,635	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
License [Member]
Revenues
11,152	16,570	25,568	25,807	23,633	29,891	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues						11,152	16,570	25,568	25,807	23,633	29,891	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Costs of revenues
2,300	2,308	2,714	2,946	2,990	3,624	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Costs of revenues						2,300	2,308	2,714	2,946	2,990	3,624	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Maintenance [Member]
Revenues
107,083	117,896	122,936	128,142	130,406	132,962	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues						107,083	117,896	122,936	128,142	130,406	132,962	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Costs of revenues
26,039	29,702	31,307	31,246	30,517	30,973	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Costs of revenues						26,039	29,702	31,307	31,246	30,517	30,973	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Professional Services [Member]
Revenues
58,497	69,138	92,651	81,454	71,767	76,193	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues						58,497	69,138	92,651	81,454	71,767	76,193	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Costs of revenues
54,664	69,448	87,735	84,670	70,317	71,330	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Costs of revenues						54,664	69,448	87,735	84,670	70,317	71,330	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Common Class A [Member]
Net (loss) income
9,541	-13,692	8,939	-7,762	-13,211	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net (loss) income						9,541	-13,692	8,939	-7,762	-13,211	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic net (loss) income per share (in dollars per share)
0.55	-0.82	0.55	-0.49	-0.84	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic net (loss) income per share (in dollars per share)						0.55	-0.82	0.55	-0.49	-0.84	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted net (loss) income per share (in dollars per share)
0.53	-0.82	0.50	-0.49	-0.84	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted net (loss) income per share (in dollars per share)						0.53	-0.82	0.50	-0.49	-0.84	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss
9,541	-13,692	8,939	-7,762	-13,211	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss						9,541	-13,692	8,939	-7,762	-13,211	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Common Class B [Member]
Net (loss) income
1,524	-2,257	1,489	-1,303	-2,239	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net (loss) income						1,524	-2,257	1,489	-1,303	-2,239	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic net (loss) income per share (in dollars per share)
0.46	-0.69	0.46	-0.41	-0.70	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic net (loss) income per share (in dollars per share)						0.46	-0.69	0.46	-0.41	-0.70	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted net (loss) income per share (in dollars per share)
0.45	-0.69	0.44	-0.41	-0.70	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted net (loss) income per share (in dollars per share)						0.45	-0.69	0.44	-0.41	-0.70	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss
1,524	-2,257	1,489	-1,303	-2,239	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss						1,524	-2,257	1,489	-1,303	-2,239	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx