Gentherm Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Gentherm Inc. has filed its 2023 10-K annual report detailing its financial performance and business operations.</b>

AI Summary

GENTHERM Inc (THRM) filed a Annual Report (10-K) with the SEC on February 21, 2024. Gentherm Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The company's principal business address is 21680 Haggerty Road, Northville, MI 48167-8994. Gentherm Inc. was formerly known as Amerigon Inc., with a name change on May 3, 1993. The filing is a public document with 125 pages. The Standard Industrial Classification code for the company is 3714 (Motor Vehicle Parts & Accessories).

Why It Matters

For investors and stakeholders tracking GENTHERM Inc, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Gentherm's financial health, operational performance, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's current standing and future prospects. Understanding the details within this filing is essential for stakeholders to evaluate the company's compliance with regulatory requirements and its position within the automotive parts and accessories industry.

Risk Assessment

Risk Level: medium — GENTHERM Inc shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual report. While it contains detailed financial and operational information, it does not inherently signal immediate high risk or reward without further analysis of the specific content within the report.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K filing to identify any significant trends, potential challenges, or strategic shifts that could impact Gentherm's stock performance.

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report)
• 20240221 — Filing Date (Filed as of date)
• 19930503 — Name Change Date (Date of former company name change)
• 3714 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• GENTHERM Inc (company) — Filer name
• AMERIGON INC (company) — Former company name
• MI (location) — State of incorporation and business address
• 21680 HAGGERTY ROAD (address) — Business and mail address
• NORTHVILLE (location) — City of business and mail address
• 48167-8994 (zip_code) — ZIP code for business and mail address

FAQ

Industry Context

Gentherm Inc. operates in the Motor Vehicle Parts & Accessories industry, supplying thermal management solutions for automotive applications.

Regulatory Implications

The filing is a standard Form 10-K, which is a mandatory annual report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Analyze the financial statements within the 10-K for revenue, net income, and other key performance indicators.
2. Review the 'Risk Factors' section to understand potential challenges and threats to the company's business.
3. Examine management's discussion and analysis (MD&A) for insights into the company's performance and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-21: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing information for the 2023 10-K. Comparative data from the previous filing (2022 10-K) would be needed for a direct comparison.

Filing Documents

• thrm-20231231.htm (10-K) — 4777KB
• thrm-ex10_14.htm (EX-10.14) — 21KB
• thrm-ex21.htm (EX-21) — 62KB
• thrm-ex23_1.htm (EX-23.1) — 7KB
• thrm-ex24.htm (EX-24) — 13KB
• thrm-ex31_1.htm (EX-31.1) — 12KB
• thrm-ex31_2.htm (EX-31.2) — 12KB
• thrm-ex32_1.htm (EX-32.1) — 6KB
• thrm-ex32_2.htm (EX-32.2) — 6KB
• thrm-ex97.htm (EX-97) — 69KB
• img34360860_0.jpg (GRAPHIC) — 31KB
• 0000950170-24-018007.txt (&nbsp;) — 22003KB
• thrm-20231231.xsd (EX-101.SCH) — 2281KB
• thrm-20231231_htm.xml (XML) — 5483KB

Business

Business 3 Item 1A:

Risk Factors

Risk Factors 16 Item 1B: Unresolved Staff Comments 30 Item 1C: Cybersecurity 30 Item 2:

Properties

Properties 32 Item 3:

Legal Proceedings

Legal Proceedings 32 Item 4: Mine Safety Disclosures 32 Part II 33 Item 5: Market for the Registrant's Common Stock, Related Stockholder Matters and Issuer Purchases of Equity Securities 33 Item 6: Reserved 35 Item 7:

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 36 Item 7A:

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 50 Item 8:

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 52 Item 9: Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 52 Item 9A:

Controls and Procedures

Controls and Procedures 52 Item 9B: Other Information 52 Item 9C: Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 53 Part III 54 Item 10: Directors, Executive Officers and Corporate Governance 54 Item 11:

Executive Compensation

Executive Compensation 54 Item 12:

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 54 Item 13: Certain Relationships and Related Transactions and Director Independence 54 Item 14: Principal Accounting Fees and Services 54 Part IV 55 Item 15: Exhibits and Financial Statement Schedules 55 Item 16: Form 10-K Summary 58 GENTHERM INCORPORATED PAR T I

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K for the year ended December 31, 2023 (this "Annual Report") contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent our goals, beliefs, plans and expectations about our prospects for the future and other future events, such as: the expected light vehicle production in the Company's key markets; the integration of acquisitions; the impact of macroeconomic and geopolitical conditions; the components of and our ability to execute our updated strategic plan and 2023 manufacturing footprint rationalization restructuring plan; long-term consumer and technological trends in the Automotive industry and our related market opportunity for our existing and new products and technologies; the competitive landscape; the impact of global tax reform legislation; the sufficiency of our cash balances and cash generated from operating, investing and financing activities for our future liquidity and capital resource needs; and our ability to finance sufficient working capital. Reference is made in particular to forward-looking statements included in "Item 1. Business," "Item 1A. Risk Factors" and "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations." Such statements may be identified by the use of forward-looking terminology such as "may", "will", "expect", "believe", "estimate", "anticipate", "intend", "continue", or similar terms, variations of such terms or the negative of such terms. The forward-looking statements included in this Annual Report are made as of the date hereof or as of the date specified and are based on management's reasonable expectations and beliefs. Such forward-looking statements are subject to a number of important assumptions, significant risks and uncertainties (some of which are beyond our control) and other factors that may c

View Full Filing

View this 10-K filing on SEC EDGAR