Dolby Labs Files Q3 2024 10-Q
Ticker: DLB · Form: 10-Q · Filed: Aug 7, 2024 · CIK: 1308547
| Field | Detail |
|---|---|
| Company | Dolby Laboratories, INC. (DLB) |
| Form Type | 10-Q |
| Filed Date | Aug 7, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
**Dolby Labs Q3 10-Q is in! Check financials for latest performance.**
AI Summary
Dolby Laboratories, Inc. filed its 10-Q for the period ending June 28, 2024. The filing details financial performance and operational updates for the third quarter of fiscal year 2024. Key financial figures and business segment information are presented, reflecting the company's ongoing activities in its fiscal year.
Why It Matters
This filing provides investors with the latest financial performance data for Dolby Laboratories, Inc., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating any immediate or significant new risks.
Key Numbers
- 97 — Public Document Count (Indicates the volume of documents associated with this filing.)
- 0927 — Fiscal Year End (Defines the end of Dolby's fiscal year.)
Key Players & Entities
- Dolby Laboratories, Inc. (company) — Filer of the 10-Q report
- 2024-06-28 (date) — End of the reporting period
- 20240807 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 28, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on August 7, 2024.
What is the company's Central Index Key (CIK)?
Dolby Laboratories, Inc.'s Central Index Key is 0001308547.
What is the Standard Industrial Classification (SIC) code for Dolby Laboratories?
The SIC code listed is 6794 for PATENT OWNERS & LESSORS.
What is the company's primary business address?
The business address is 1275 MARKET STREET, SAN FRANCISCO, CA 94103.
Filing Stats: 4,524 words · 18 min read · ~15 pages · Grade level 17.4 · Accepted 2024-08-07 17:11:21
Key Financial Figures
- $0.001 — which registered Class A common stock, $0.001 par value DLB The New York Stock Exchan
Filing Documents
- dlb-20240628.htm (10-Q) — 2238KB
- exhibit311-q324.htm (EX-31.1) — 10KB
- exhibit312-q324.htm (EX-31.2) — 11KB
- exhibit321-q324.htm (EX-32.1) — 5KB
- dlb-20240628_g1.jpg (GRAPHIC) — 37KB
- 0001628280-24-035707.txt ( ) — 11765KB
- dlb-20240628.xsd (EX-101.SCH) — 76KB
- dlb-20240628_cal.xml (EX-101.CAL) — 139KB
- dlb-20240628_def.xml (EX-101.DEF) — 333KB
- dlb-20240628_lab.xml (EX-101.LAB) — 914KB
- dlb-20240628_pre.xml (EX-101.PRE) — 610KB
- dlb-20240628_htm.xml (XML) — 2126KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Unaudited Interim Condensed Consolidated Financial Statements
Item 1. Unaudited Interim Condensed Consolidated Financial Statements 4 Unaudited Interim Condensed Consolidated Balance Sheets 4 Unaudited Interim Condensed Consolidated Statements of Operations 5 Unaudited Interim Condensed Consolidated Statements of Comprehensive Income 6 Unaudited Interim Condensed Consolidated Statements of Stockholders' Equity 7 Unaudited Interim Condensed Consolidated Statements of Cash Flows 9 Notes to Unaudited Interim Condensed Consolidated Financial Statements 10
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 36
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 53
Controls and Procedures
Item 4. Controls and Procedures 55
– OTHER INFORMATION
PART II – OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 56
Risk Factors
Item 1A. Risk Factors 56
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 71
Other Information
Item 5. Other Information 71
Exhibits
Item 6. Exhibits 72 Signature 2 Table of Contents GLOSSARY OF TERMS The following table summarizes certain terms and abbreviations that may be used within the text of this report: Abbreviation Term AAC Advanced Audio Coding AFS Available-For-Sale (Securities) AOCI Accumulated Other Comprehensive Income (Loss) API Application Programming Interface APIC Additional Paid In-Capital ASC Accounting Standards Codification ASP Average Selling Price ASU Accounting Standards Update ATSC Advanced Television Systems Committee AVC Advanced Video Coding AVR Audio/Video Receiver CE Consumer Electronics CODM Chief Operating Decision Maker COSO Committee Of Sponsoring Organizations (Of The Treadway Commission) DD Dolby Digital DD+ Dolby Digital Plus DMA Digital Media Adapter DTV Digital Television DVB Digital Video Broadcasting DVD Digital Versatile Disc EPS Earnings Per Share ESP Estimated Selling Price ESPP Employee Stock Purchase Plan FASB Financial Accounting Standards Board FCPA Foreign Corrupt Practices Act G&A General and Administrative HD High Definition HDR High-Dynamic Range HDTV High Definition Television HE-AAC High Efficiency Advanced Audio Coding HEVC High Efficiency Video Coding IC Integrated Circuit IBR Incremental Borrowing Rate IP Intellectual Property LP Limited Partner/Partnership NOL Net Operating Loss OECD Organization For Economic Co-Operation & Development OEM Original Equipment Manufacturer OTT Over-The-Top PC Personal Computer PCS Post-Contract Support PP&E Property, Plant, and Equipment PSO Performance-Based Stock Option PSU Performance-Based Restricted Stock Unit R&D Research and Development ROU Right-Of-Use RSU Restricted Stock Unit S&M Sales and Marketing SEC U.S. Securities and Exchange Commission SERP Supplemental Executive Retirement Plan STB Set-Top Box TSR Total Stockholder Return UHD Ultra-High Definition U.S. GAAP Generally Accepted Accounting Principles In The United S
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
ITEM 1. UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DOLBY LABORATORIES, INC. INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS ( in thousands, except share and per share amounts ) (unaudited) June 28, 2024 September 29, 2023 ASSETS Current assets: Cash and cash equivalents $ 741,636 $ 745,364 Restricted cash 36,988 72,602 Short-term investments 127,321 139,148 Accounts receivable, net of allowance for credit losses of $ 4,723 and $ 9,683 285,843 262,245 Contract assets, net of allowance for credit losses of $ 104 and $ 138 190,803 182,130 Inventories, net 34,716 35,623 Prepaid expenses and other current assets 51,348 50,692 Total current assets 1,468,655 1,487,804 Long-term investments 117,901 97,812 Property, plant, and equipment, net 477,686 481,581 Operating lease right-of-use assets 39,857 40,199 Intangible assets, net 144,639 167,427 Goodwill 408,457 408,409 Deferred taxes 219,822 201,860 Other non-current assets 96,618 94,674 Total assets $ 2,973,635 $ 2,979,766 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 16,413 $ 20,925 Accrued liabilities 280,611 351,399 Income taxes payable 12,294 4,769 Contract liabilities 32,650 31,505 Operating lease liabilities 12,568 13,628 Total current liabilities 354,536 422,226 Non-current contract liabilities 35,647 39,997 Non-current operating lease liabilities 35,619 37,020 Other non-current liabilities 100,401 108,339 Total liabilities 526,203 607,582 Stockholders' equity: Class A, $ 0.001 par value, one vote per share, 500,000,000 shares authorized: 59,914,035 shares issued and outstanding at June 28, 2024 and 59,673,633 at September 29, 2023 53 53 Class B, $ 0.001 par value, ten votes per share, 500,000,000 shares authorized: 35,670,779 shares issued and outstanding at June 28, 2024 and 36,085,779 at September 29, 2023 41 41 Retained earnings 2,462,928 2,391,990 Accumulated other comprehensive loss ( 30,172 ) ( 36,984 ) Total sto