$1.5 B

BEAT Mkt cap, 14-Jun-2018

$94.5 M

BioTelemetry Revenue Q1, 2018
BioTelemetry Gross profit (Q1, 2018)58 M
BioTelemetry Gross profit margin (Q1, 2018), %61.4%
BioTelemetry Net income (Q1, 2018)5 M
BioTelemetry EBIT (Q1, 2018)6.7 M
BioTelemetry Cash, 31-Mar-201836.3 M
BioTelemetry EV1.6 B

BioTelemetry Financials

BioTelemetry Income Statement

Annual

usdFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

119 m111.5 m129.5 m166.6 m178.5 m208.3 m286.8 m

Revenue growth, %

(6%)16%29%7%17%

Cost of goods sold

6.2 m5.1 m4.9 m73.1 m72 m78.9 m114.4 m

Gross profit

112.8 m106.4 m124.6 m93.5 m106.6 m129.5 m172.4 m

Gross profit Margin, %

95%95%96%56%60%62%60%

Sales and marketing expense

28.6 m35.3 m

R&D expense

8.4 m11.1 m

General and administrative expense

55.9 m83 m

Operating expense total

92.9 m174.1 m

EBIT

(6.9 m)(4.3 m)9.5 m18 m

EBIT margin, %

(5%)(3%)5%9%

Interest expense

4.9 m

Pre tax profit

(7.1 m)(12.1 m)15.8 m(10.4 m)

Income tax expense

244 k(905 k)215 k37.7 m

Net Income

(7.3 m)(9.8 m)7.4 m53.4 m(17.1 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Revenue

31.9 m37.2 m42.7 m43.1 m43.4 m44.8 m43.5 m48.6 m52.7 m53.1 m55.9 m58.1 m94.5 m

Cost of goods sold

12.6 m15.5 m19 m19.4 m18.2 m18.1 m17.2 m18 m19.8 m20.2 m23 m22.2 m36.4 m

Gross profit

19.2 m21.6 m23.6 m23.7 m25.2 m26.7 m26.3 m30.6 m32.9 m32.9 m32.9 m36 m58 m

Gross profit Margin, %

60%58%55%55%58%60%61%63%62%62%59%62%61%

Sales and marketing expense

6.7 m7.4 m7.2 m7.3 m7.2 m6.9 m6.6 m7.5 m7.1 m7 m7.7 m7.6 m11.3 m

R&D expense

1.9 m1.8 m2 m2 m2 m1.6 m1.6 m1.8 m2 m2.1 m2.4 m2.5 m3.3 m

General and administrative expense

9 m10.8 m11.1 m11 m11.4 m12.2 m11.5 m12.3 m14.4 m13.9 m15.9 m14.4 m26.7 m

Operating expense total

22.1 m25.3 m24 m23.2 m24.8 m24.1 m23.3 m26.1 m27.8 m27.9 m30.6 m31.6 m51.3 m

EBIT

(2.8 m)(3.7 m)(401 k)486 k469 k2.6 m3 m4.5 m5.1 m5 m2.3 m4.4 m6.7 m

EBIT margin, %

(9%)(10%)(1%)1%1%6%7%9%10%9%4%8%7%

Interest expense

1.9 m

Pre tax profit

(2.9 m)(7 m)(4 m)193 k79 k2.1 m2.6 m4.1 m4.5 m4.3 m(670 k)3 m4.9 m

Income tax expense

(24 k)(141 k)(235 k)866 k142 k

Net Income

(8.1 m)(8.1 m)(69 k)2.2 m2.5 m4 m4.3 m4.1 m196 k1.7 m5 m

BioTelemetry Balance Sheet

Annual

usdY, 2010Y, 2011Y, 2012Y, 2013Y, 2014Y, 2015FY, 2016FY, 2017

Cash

18.7 m18.3 m18.3 m22.2 m20 m19 m23.1 m36 m

Accounts Receivable

Inventories

2.4 m2.4 m1.5 m5.2 m5.3 m

Current Assets

44.3 m49.5 m47 m59.6 m90.1 m

PP&E

18.8 m21.7 m25.6 m25.8 m49.2 m

Goodwill

16.5 m29.6 m29.8 m41.1 m223.1 m

Total Assets

87.5 m124.8 m124.1 m199 m524.6 m

Accounts Payable

8.7 m13.2 m8.5 m12.4 m13.2 m

Short-term debt

1.3 m1.3 m2.1 m

Current Liabilities

19 m35.3 m23.9 m31.5 m51 m

Long-term debt

21.9 m24 m197.3 m

Total Debt

23.2 m25.3 m199.4 m

Total Liabilities

60.1 m274.9 m

Common Stock

32 k

Additional Paid-in Capital

260.6 m267.2 m272.1 m281.6 m409.5 m

Retained Earnings

(193.8 m)(203.6 m)(196.2 m)(142.7 m)(158.7 m)

Total Equity

66.8 m63.7 m75.9 m138.9 m249.7 m

Debt to Equity Ratio

0.3 x0.2 x

Debt to Assets Ratio

0.2 x0.1 x

Financial Leverage

1.3 x2 x1.6 x1.4 x2.1 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Cash

21 m12 m13.5 m12.2 m12.3 m14.8 m15.5 m22.8 m25.4 m32.3 m25.1 m26.9 m36.3 m

Inventories

3.4 m3 m3 m2.6 m3 m3.2 m2.8 m2.9 m3.5 m3.8 m4.3 m4.1 m6.4 m

Current Assets

46 m40.8 m41.8 m41.9 m42.3 m43.5 m45.2 m51.7 m59 m68.3 m64 m65.9 m98.4 m

PP&E

17.7 m25 m29.1 m29 m21.4 m23.8 m25 m26.3 m26.3 m26.3 m26.4 m26.7 m

Goodwill

16.5 m25.6 m29.5 m29.7 m29.8 m29.8 m29.8 m29.8 m37.2 m37.3 m41 m41 m223.7 m

Total Assets

88.7 m107.4 m118.4 m118.1 m117.2 m120 m122.4 m128.9 m156.2 m165.2 m204.6 m204 m528 m

Accounts Payable

8.3 m14.9 m14.4 m12.8 m12 m12 m10.5 m10.4 m10.6 m9.8 m12.9 m9.2 m16.9 m

Short-term debt

1.3 m1.3 m1.3 m1.3 m1.3 m12.8 m1.6 m1.9 m2.8 m

Current Liabilities

21.1 m30.4 m35.8 m34.4 m27.5 m27.5 m25.9 m24.3 m28.6 m42.7 m33.9 m32.4 m50.2 m

Long-term debt

22.8 m22.5 m22.3 m21.7 m36 m24.2 m23.3 m22.8 m197.1 m

Total Debt

24.1 m23.8 m23.5 m22.9 m37.3 m37.1 m24.9 m24.6 m199.9 m

Total Liabilities

22.9 m42.6 m55.7 m54.2 m53.1 m52.7 m50.9 m48.3 m67.7 m70.2 m61.7 m57.2 m271.7 m

Additional Paid-in Capital

259.5 m262.7 m264.6 m265.8 m267.7 m268.7 m270.4 m272.8 m276.5 m278.8 m285.4 m287.6 m411.3 m

Retained Earnings

(193.8 m)(197.9 m)(201.9 m)(201.9 m)(203.7 m)(201.5 m)(199 m)(192.2 m)(187.9 m)(183.8 m)(142.5 m)(140.8 m)(152.7 m)

Total Equity

65.7 m64.8 m62.7 m63.9 m64.1 m67.3 m71.5 m80.7 m88.5 m95 m142.9 m146.8 m256.4 m

Financial Leverage

1.3 x1.7 x1.9 x1.8 x1.8 x1.8 x1.7 x1.6 x1.8 x1.7 x1.4 x1.4 x2.1 x

BioTelemetry Cash Flow

Annual

usdFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

(7.3 m)(9.8 m)7.4 m53.4 m(17.1 m)

Depreciation and Amortization

12.3 m12.6 m12.5 m14.3 m18.3 m

Accounts Receivable

(4.6 m)(13 m)(7.7 m)

Inventories

340 k299 k188 k(753 k)665 k

Accounts Payable

2.4 m47 k(4.7 m)3.1 m(9.6 m)

Cash From Operating Activities

11.3 m8.8 m14.4 m38.9 m23.8 m

Purchases of PP&E

(8.2 m)

Cash From Investing Activities

(8.2 m)(26.9 m)(13.6 m)(36.2 m)(177.2 m)

Long-term Borrowings

(26.4 m)(1.4 m)(25.8 m)

Cash From Financing Activities

763 k15.9 m(1.8 m)1.4 m166.5 m

Interest Paid

132 k856 k1 m1.3 m3.9 m

Income Taxes Paid

112 k148 k384 k359 k1.6 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Net Income

(7.3 m)(4.1 m)(8.1 m)(8.1 m)(69 k)2.1 m4.6 m4 m8.3 m12.4 m196 k1.9 m5 m

Depreciation and Amortization

9.5 m2.8 m6 m9.2 m3 m6 m9.1 m3.3 m6.9 m10.6 m3.7 m7.5 m9.8 m

Accounts Receivable

(3.8 m)(5 m)(7.6 m)(11.2 m)(3 m)(4 m)(6.8 m)(2.9 m)

Inventories

(520 k)(104 k)(104 k)307 k(456 k)(640 k)(241 k)(487 k)(786 k)(1.2 m)810 k845 k(1 m)

Accounts Payable

2 m1.8 m1.3 m(402 k)(1.2 m)(1.2 m)(2.7 m)1.9 m1.8 m934 k463 k(3.2 m)2.3 m

Cash From Operating Activities

7 m(2.1 m)3.9 m4.6 m(4.6 m)3 m7.2 m8.2 m17.5 m26.4 m4.7 m10.7 m9.1 m

Purchases of PP&E

(4.9 m)(3.9 m)(7.6 m)(10 m)

Cash From Investing Activities

(4.9 m)(21.7 m)(24.1 m)(2.1 m)(6.7 m)(10.3 m)(3.5 m)(23.7 m)(26.5 m)(3 m)(7.9 m)(3.9 m)

Long-term Borrowings

(8.6 m)(8.8 m)(8.9 m)(8.6 m)(313 k)(625 k)(313 k)(635 k)(958 k)(312 k)(626 k)(513 k)

Cash From Financing Activities

541 k1.5 m9.2 m9.5 m(1 m)(1.5 m)(1.4 m)(814 k)12.6 m13.3 m359 k963 k(4.6 m)

Interest Paid

19 k370 k561 k15 k359 k706 k342 k654 k965 k310 k648 k1.5 m

Income Taxes Paid

105 k105 k134 k139 k22 k161 k322 k13 k132 k289 k47 k1.2 m20 k

BioTelemetry Ratios

USDY, 2018

EV/EBIT

242.4 x

EV/CFO

179.9 x

Financial Leverage

2.1 x
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BioTelemetry Operating Metrics

FY, 2015FY, 2016

Patents (US)

34 49

Patents (foreign)

81 111

Patents Issued

115 160

Trademarks

17 22
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