Company profile

Ticker
IO
Exchange
Website
CEO
Christopher Theron Usher
Employees
Incorporated
Location
Fiscal year end
Former names
INPUT OUTPUT INC
SEC CIK
IRS number
222286646

IO stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

6 Aug 20
27 Oct 20
31 Dec 20

News

Quarter (USD) Jun 20 Mar 20 Sep 19 Jun 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
1 Sep 20 Christopher Theron Usher Common Stock Payment of exercise Dispose F No 2.03 6,279 12.75K 276,044
11 Mar 20 Lapeyre James M JR Common Stock Buy Aquire P No 1.7485 100,000 174.85K 417,773
5 Mar 20 Michael L Morrison Common Stock Grant Aquire A No 0 25,000 0 61,139
5 Mar 20 Michael L Morrison Common Stock Grant Aquire A No 0 25,000 0 36,139
1 Mar 20 S James Nelson Common Stock Grant Aquire A No 0 2,500 0 21,766
1 Mar 20 Huasheng Zheng Common Stock Grant Aquire A No 0 2,500 0 5,935
1 Mar 20 Huasheng Zheng Common Stock Payment of exercise Dispose F No 3.52 750 2.64K 3,435
25.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 41 44 -6.8%
Opened positions 9 6 +50.0%
Closed positions 12 21 -42.9%
Increased positions 9 12 -25.0%
Reduced positions 14 16 -12.5%
13F shares
Current Prev Q Change
Total value 9.1M 5.71M +59.5%
Total shares 3.89M 4.49M -13.4%
Total puts 23.7K 14.9K +59.1%
Total calls 100 20.5K -99.5%
Total put/call ratio 237.0 0.7 +32507.4%
Largest owners
Shares Value Change
Renaissance Technologies 1.07M $2.51M -2.2%
Vanguard 475.27K $1.11M -2.6%
Dimensional Fund Advisors 361.37K $846K -28.0%
DB Deutsche Bank 324.31K $759K 0.0%
NEU Neuberger Berman 301.65K $706K -7.1%
BLK BlackRock 201.76K $472K +9.9%
Acadian Asset Management 194.8K $456K +10.4%
Assenagon Asset Management 184.1K $431K NEW
Bridgeway Capital Management 135.9K $318K +12.9%
Geode Capital Management 81.3K $190K 0.0%
Largest transactions
Shares Bought/sold Change
Gates Capital Management 0 -300.22K EXIT
Assenagon Asset Management 184.1K +184.1K NEW
Gsa Capital Partners 0 -162.95K EXIT
Dimensional Fund Advisors 361.37K -140.51K -28.0%
Jacobs Levy Equity Management 36.77K -86.18K -70.1%
Royce & Associates 0 -84.06K EXIT
Citadel Advisors 42.82K +42.82K NEW
Millennium Management 30.76K +30.76K NEW
Two Sigma Investments 0 -30.2K EXIT
C Citigroup 16.37K -30K -64.7%

Financial report summary

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Risks
  • An unfavorable outcome in our pending litigation matter with WesternGeco could have a materially adverse effect on our financial results and liquidity.
  • Our operating results often fluctuate from period to period as we are subject to cyclicality and seasonality factors.
  • Our indebtedness could adversely affect our liquidity, financial condition and our ability to fulfill our obligations and operate our business.
  • If we are unable to raise additional working capital, we will be unable to fully fund our operations and to otherwise execute our strategic objectives.
  • We are subject to intense competition, which could limit our ability to maintain or increase our market share or to maintain our prices at profitable levels.
  • The indentures governing the 9.125% Second Lien Notes due 2021 contain a number of restrictive covenants that limit our ability to finance future operations or capital needs or engage in other business activities that may be in our interest.
  • As a technology-focused company, we are continually exposed to risks related to complex, highly technical services and products that are sometimes operated in dangerous marine environments.
  • We have invested, and expect to continue to invest, significant sums of money in acquiring and processing seismic data for our E&P Technology & Services’ multi-client data library, without knowing precisely how much of this seismic data we will be able to license or when and at what price we will be able to license the data sets. Our business could be adversely affected by the failure of our customers to fulfill their obligations to reimburse us for the underwritten portion of our seismic data acquisition costs for our multi-client library.
  • We derive a substantial amount of our revenues from foreign operations and sales, which pose additional risks.
  • We may be unable to obtain broad intellectual property protection for our current and future products and we may become involved in intellectual property disputes; we rely on developing and acquiring proprietary data which we keep confidential.
  • If we do not effectively manage our transition into new services, products and adjacent markets, our revenues may suffer.
  • Global economic conditions and credit market uncertainties could have an adverse effect on customer demand for certain of our services and products, which in turn would adversely affect our results of operations, our cash flows, our financial condition and our stock price.
  • The loss of any significant customer or the inability of our customers to meet their payment obligations to us could materially and adversely affect our results of operations and financial condition.
  • Our stock price has been volatile, declining and increasing from time to time.
  • Goodwill and other long-lived assets (multi-client data library and property, plant and equipment) that we have recorded are subject to impairment evaluations. In addition, our product inventory may become obsolete or excessive due to future changes in technology, changes in market demand, or changes in market expectations. Write-downs of these assets may adversely affect our financial condition and results of operations.
  • Due to the international scope of our business activities, our results of operations may be significantly affected by currency fluctuations.
  • We rely on highly skilled personnel in our businesses, and if we are unable to retain or motivate key personnel or hire qualified personnel, we may not be able to effectively operate our business.
  • Certain of our facilities could be damaged by hurricanes and other natural disasters, which could have an adverse effect on our results of operations and financial condition.
  • Our operations, and the operations of our customers, are subject to numerous government regulations, which could adversely limit our operating flexibility. Regulatory initiatives undertaken from time to time, such as restrictions, sanctions and embargoes, can adversely affect, and have adversely affected, our customers and our business.
  • Existing or future laws and regulations related to greenhouse gases and climate change could have a material adverse effect on our business, results of operations, and financial condition.
  • We have outsourcing arrangements with third parties to manufacture some of our products. If these third party suppliers fail to deliver quality products or components at reasonable prices on a timely basis, we may alienate some of our customers and our revenues, profitability and cash flow may decline. Additionally, current global economic conditions could have a negative impact on our suppliers, causing a disruption in our vendor supplies. A disruption in vendor supplies may adversely affect our results of operations.
  • Our business is subject to cybersecurity risks and threats.
  • Our certificate of incorporation and bylaws, Delaware law and certain contractual obligations under our agreement with BGP contain provisions that could discourage another company from acquiring us.
  • Failure to maintain effective internal controls in accordance with Section 404 of the Sarbanes-Oxley Act could have a material adverse effect on our stock price.
Management Discussion
  • Our total net revenues of $174.7 million for 2019 decreased $5.3 million, or 3%, compared to total net revenues of $180.0 million for 2018. Our overall gross profit percentage, as adjusted, for 2019 was 40%, compared to a gross profit percentage of 33% for 2018. Total operating expenses as a percentage of total net revenues for 2019 and 2018 were 45% and 42%, as adjusted, respectively. During 2019, our loss from operations as adjusted, was $9.7 million, compared to a loss of $15.6 million for 2018.
  • Our net loss as adjusted, for 2019 was $33.9 million, or a loss of $2.40 per share, compared to net loss of $32.5 million or a loss of $2.37 per share for 2018. As noted above, our net loss for 2019 and 2018 included other special items totaling $14.3 million and $38.7 million, respectively, impacting our loss per share by $1.01 and $2.83, respectively.
  • E&P Technology & Services — Net revenues for 2019 decreased by $10.9 million, or 8%, to $125.6 million, compared to $136.5 million for 2018. Within the E&P Technology & Services segment, total multi-client revenues were $103.0 million, a decrease of 12%, with New Venture revenues experiencing significant declines during 2019 resulting from timing and scale of new multi-client programs. Partially offsetting the overall decline in New Venture revenues was an increase in Data Library revenues of $24.8 million, or 53%, attributable to sales of South American data. Imaging Services revenues were $22.5 million, a 14% increase, attributable to modest market improvement and the successful execution of our strategy to focus on key clients, applications and basins that benefit from and enable us to continue enhancing our advanced technologies.
Content analysis ?
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Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
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Removed: conventional, marketplace, South, understanding