Company Quick10K Filing
J2 Global
Price91.74 EPS3
Shares49 P/E31
MCap4,501 P/FCF15
Net Debt1,308 EBIT171
TEV5,809 TEV/EBIT34
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-09-30 Filed 2020-11-09
10-Q 2020-06-30 Filed 2020-08-10
10-Q 2020-03-31 Filed 2020-05-11
10-K 2019-12-31 Filed 2020-03-02
10-Q 2019-09-30 Filed 2019-11-08
10-Q 2019-06-30 Filed 2019-08-09
10-Q 2019-03-31 Filed 2019-05-10
10-K 2018-12-31 Filed 2019-03-01
10-Q 2018-09-30 Filed 2018-11-09
10-Q 2018-06-30 Filed 2018-08-09
10-Q 2018-03-31 Filed 2018-05-10
10-K 2017-12-31 Filed 2018-03-01
10-Q 2017-09-30 Filed 2017-11-09
10-Q 2017-06-30 Filed 2017-08-09
10-Q 2017-03-31 Filed 2017-05-10
10-K 2016-12-31 Filed 2017-03-01
10-Q 2016-09-30 Filed 2016-11-09
10-Q 2016-06-30 Filed 2016-08-09
10-Q 2016-03-31 Filed 2016-05-10
10-K 2015-12-31 Filed 2016-02-29
10-Q 2015-09-30 Filed 2015-11-09
10-Q 2015-06-30 Filed 2015-08-10
10-Q 2015-03-31 Filed 2015-05-11
10-K 2014-12-31 Filed 2015-03-02
10-Q 2014-09-30 Filed 2014-11-10
10-Q 2014-06-30 Filed 2014-08-11
10-Q 2014-03-31 Filed 2014-05-09
10-K 2013-12-31 Filed 2014-03-03
10-Q 2013-09-30 Filed 2013-11-12
10-Q 2013-06-30 Filed 2013-08-09
10-Q 2013-03-31 Filed 2013-05-10
10-K 2012-12-31 Filed 2013-03-01
10-Q 2012-09-30 Filed 2012-11-06
10-Q 2012-06-30 Filed 2012-08-07
10-Q 2012-03-31 Filed 2012-05-07
10-K 2011-12-31 Filed 2012-02-28
10-Q 2011-09-30 Filed 2011-11-08
10-Q 2011-06-30 Filed 2011-08-08
10-Q 2011-03-31 Filed 2011-05-09
10-K 2010-12-31 Filed 2011-02-28
10-Q 2010-09-30 Filed 2010-11-05
10-Q 2010-06-30 Filed 2010-08-05
10-Q 2010-03-31 Filed 2010-05-05
10-K 2009-12-31 Filed 2010-02-23
8-K 2020-11-18 Regulation FD
8-K 2020-11-03 Earnings, Regulation FD, Exhibits
8-K 2020-10-12 Officers
8-K 2020-10-02 Other Events, Exhibits
8-K 2020-10-02 Enter Agreement, Leave Agreement, Off-BS Arrangement, Other Events, Exhibits
8-K 2020-10-01 Other Events, Exhibits
8-K 2020-09-24 Regulation FD
8-K 2020-09-08 Regulation FD
8-K 2020-08-10 Earnings, Regulation FD, Other Events, Exhibits
8-K 2020-08-10 Officers
8-K 2020-07-02 Regulation FD, Exhibits
8-K 2020-06-25
8-K 2020-06-02
8-K 2020-05-11
8-K 2020-03-03
8-K 2020-02-24
8-K 2020-02-10
8-K 2020-01-27
8-K 2020-01-06
8-K 2019-12-02
8-K 2019-11-27
8-K 2019-11-19
8-K 2019-11-12
8-K 2019-11-11
8-K 2019-09-05
8-K 2019-09-04
8-K 2019-08-16
8-K 2019-08-12
8-K 2019-08-06
8-K 2019-07-01
8-K 2019-06-04
8-K 2019-05-21
8-K 2019-05-03
8-K 2019-03-12
8-K 2019-02-26
8-K 2019-02-12
8-K 2019-01-11
8-K 2019-01-07
8-K 2018-12-04
8-K 2018-11-13
8-K 2018-11-05
8-K 2018-09-05
8-K 2018-08-09
8-K 2018-06-06
8-K 2018-05-10
8-K 2018-05-03
8-K 2018-02-27
8-K 2018-02-06
8-K 2018-02-02
8-K 2018-01-18

JCOM 10Q Quarterly Report

Part I. Financial Information
Item 1.Financial Statements
Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3.Quantitative and Qualitative Disclosures About Market Risk
Item 4.Controls and Procedures
Part II. Other Information
Item 1.Legal Proceedings
Item 1A. Risk Factors
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds
Item 3.Defaults Upon Senior Securities
Item 4.Mine Safety Disclosures
Item 5.Other Information
Item 6.Exhibits
EX-31.1 jcom20200930ex-311.htm
EX-31.2 jcom20200930ex-312.htm
EX-32.1 jcom20200930ex-321.htm
EX-32.2 jcom20200930ex-322.htm

J2 Global Earnings 2020-09-30

Balance SheetIncome StatementCash Flow
2.92.31.71.20.60.02012201420172020
Assets, Equity
0.40.30.20.20.10.02012201420172020
Rev, G Profit, Net Income
0.40.20.0-0.1-0.3-0.52012201420172020
Ops, Inv, Fin

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934

For the quarterly period ended September 30, 2020
OR
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934

For the transition period from __________ to __________

Commission File Number: 0-25965
jcom-20200930_g1.jpg
J2 GLOBAL, INC.
(Exact name of registrant as specified in its charter)
Delaware47-1053457
(State or other jurisdiction(I.R.S. Employer
of incorporation or organization)Identification No.)
700 S. Flower Street, 15th Floor
Los Angeles, California 90017
(Address of principal executive offices)
(323) 860-9200
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.01 par valueJCOMNasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.   Yes ý    No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes ý    No  o   
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer ýAccelerated fileroNon-Accelerated fileroSmaller reporting company
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).  Yes        No ý

As of November 4, 2020, the registrant had 45,592,054 shares of common stock outstanding.




J2 GLOBAL, INC. AND SUBSIDIARIES 
FOR THE QUARTER ENDED SEPTEMBER 30, 2020

INDEX 
   PAGE
 
    
  
  
  
  
  
    
 
    
 
    
 
    
   
 
    
 
    
 
    
 
    
 
    
 
    
 
    
 
Item 6.  
    
  
    

-2-


PART I.  FINANCIAL INFORMATION
Item 1.Financial Statements
J2 GLOBAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands except share and per share data)
September 30, 2020December 31, 2019
ASSETS
Cash and cash equivalents$567,930 $575,615 
Accounts receivable, net of allowances of $13,202 and $12,701, respectively
192,800 261,928 
Prepaid expenses and other current assets46,594 49,347 
Total current assets807,324 886,890 
Long-term investments 96,575 100,079 
Property and equipment, net147,268 127,817 
Operating lease right-of-use assets97,439 125,822 
Trade names, net126,859 138,029 
Customer relationships, net190,689 238,502 
Goodwill1,661,546 1,633,033 
Other purchased intangibles, net142,018 180,022 
Deferred income taxes, noncurrent57,490 59,976 
Other assets15,785 15,676 
TOTAL ASSETS$3,342,993 $3,505,846 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued expenses$177,820 $238,059 
Income taxes payable, current12,733 17,758 
Deferred revenue, current155,806 162,855 
Operating lease liabilities, current27,673 26,927 
Current portion of long-term debt393,980 385,532 
Other current liabilities901 1,973 
Total current liabilities768,913 833,104 
Long-term debt1,075,071 1,062,929 
Deferred revenue, noncurrent11,232 12,744 
Operating lease liabilities, noncurrent87,563 104,070 
Income taxes payable, noncurrent11,675 11,675 
Liability for uncertain tax positions60,197 52,451 
Deferred income taxes, noncurrent115,356 107,453 
Other long-term liabilities36,649 10,228 
TOTAL LIABILITIES2,166,656 2,194,654 
Commitments and contingencies  
Preferred stock, $0.01 par value. Authorized 1,000,000 and none issued
  
Preferred stock - Series A, $0.01 par value. Authorized 6,000; total issued and outstanding zero
  
Preferred stock - Series B, $0.01 par value. Authorized 20,000; total issued and outstanding zero
  
Common stock, $0.01 par value. Authorized 95,000,000; total issued and outstanding 44,767,341 and 47,654,929 shares at September 30, 2020 and December 31, 2019, respectively.
448 476 
Additional paid-in capital 451,741 465,652 
Retained earnings782,142 891,526 
Accumulated other comprehensive loss(57,994)(46,462)
TOTAL STOCKHOLDERS’ EQUITY1,176,337 1,311,192 
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY$3,342,993 $3,505,846 
See Notes to Condensed Consolidated Financial Statements
-3-


J2 GLOBAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands except share and per share data)

Three Months Ended
September 30,
Nine Months Ended
September 30,
2020201920202019
Total revenues$356,976 $344,141 $1,020,353 $966,466 
Cost of revenues (1)
55,822 61,716 171,755 172,995 
Gross profit301,154 282,425 848,598 793,471 
Operating expenses:  
Sales and marketing (1)
95,074 98,486 287,317 273,812 
Research, development and engineering (1)
14,261 13,770 43,273 38,692 
General and administrative (1)
114,381 110,810 312,283 314,132 
Total operating expenses223,716 223,066 642,873 626,636 
Income from operations77,438 59,359 205,725 166,835 
Interest expense, net22,712 17,271 65,879 50,625 
Gain on sale of businesses(17,122) (17,122) 
Loss on investments, net156 7 20,991 45 
Other (income) expense, net(14,230)857 (16,413)2,657 
Income before income taxes and net loss (income) in earnings of equity method investment85,922 41,224 152,390 113,508 
Income tax expense24,330 6,998 49,011 17,851 
Net loss (income) in earnings of equity method investment709 3,481 10,799 (126)
Net income$60,883 $30,745 $92,580 $95,783 
Net income per common share:   
Basic$1.31 $0.63 $1.96 $1.98 
Diluted$1.31 $0.62 $1.93 $1.93 
Weighted average shares outstanding:   
Basic46,279,515 47,673,211 46,914,750 47,654,327 
Diluted46,309,072 49,064,272 47,620,308 48,892,523 
(1) Includes share-based compensation expense as follows:
Cost of revenues$136 $127 $413 $390 
Sales and marketing321 419 1,135 1,212 
Research, development and engineering425 373 1,340 1,092 
General and administrative4,918 5,527 15,755 15,700 
Total$5,800 $6,446 $18,643 $18,394 
 
See Notes to Condensed Consolidated Financial Statements
-4-


J2 GLOBAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Unaudited, in thousands)

Three Months Ended
September 30,
Nine Months Ended
September 30,
2020201920202019
Net income$60,883 $30,745 $92,580 $95,783 
Other comprehensive loss, net of tax:
Foreign currency translation adjustment(3,202)(8,166)(12,085)(8,852)
Change in fair value on available-for-sale investments, net of tax expense of $141 and $314 for the three and nine months ended September 30, 2020, respectively, and zero and $184 for the three and nine months ended September 30, 2019, respectively.
8  553 558 
Other comprehensive loss, net of tax(3,194)(8,166)(11,532)(8,294)
Comprehensive income$57,689 $22,579 $81,048 $87,489 

See Notes to Condensed Consolidated Financial Statements

-5-


J2 GLOBAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in thousands)
                                                          Nine Months Ended
September 30,
Cash flows from operating activities:20202019
Net income$92,580 $95,783 
Adjustments to reconcile net income to net cash provided by operating activities: 
Depreciation and amortization163,680 170,409 
Amortization of financing costs and discounts21,393 9,072 
Non-cash operating lease costs15,686 14,474 
Share-based compensation18,643 18,394 
Provision for doubtful accounts9,508 9,217 
Deferred income taxes, net7,815 2,850 
Gain on sale of businesses(17,122) 
Lease asset impairments and other charges9,786  
Changes in fair value of contingent consideration(243)8,044 
Foreign currency remeasurement gain(15,919) 
Loss (income) on equity method investments10,799 (166)
Loss on equity and debt investments20,826  
Decrease (increase) in: 
Accounts receivable57,560 29,953 
Prepaid expenses and other current assets(3,279)(10,094)
Other assets543 (1,528)
Increase (decrease) in: 
Accounts payable and accrued expenses(26,430)623 
Income taxes payable(496)(15,179)
Deferred revenue(10,494)777 
Operating lease liabilities(12,857)(13,612)
Liability for uncertain tax positions7,746 (9,144)
Other long-term liabilities6,284 (566)
Net cash provided by operating activities356,009 309,307 
Cash flows from investing activities: 
Distribution from equity method investment 10,288 
Purchases of equity method investment(29,979)(22,338)
Purchases of equity investments(843) 
Purchases of property and equipment(71,266)(49,483)
Acquisition of businesses, net of cash received(27,156)(411,349)
Proceeds from sale of businesses24,353  
Proceeds from sale of assets507  
Purchases of intangible assets(2,902)(46)
Net cash used in investing activities(107,286)(472,928)
Cash flows from financing activities: 
Payment of note payable(400)(5,100)
Proceeds from line of credit 185,000 
Repayment of line of credit (57,000)
Repurchase of common stock(238,905)(20,562)
Issuance of common stock under employee stock purchase plan3,303 1,995 
Exercise of stock options952 5,274 
Dividends paid (43,966)
Deferred payments for acquisitions(20,427)(17,734)
Other(1,377)(1,055)
Net cash (used in) provided by financing activities(256,854)46,852 
Effect of exchange rate changes on cash and cash equivalents446 (520)
Net change in cash and cash equivalents(7,685)(117,289)
Cash and cash equivalents at beginning of period575,615 209,474 
Cash and cash equivalents at end of period$567,930 $92,185 
See Notes to Condensed Consolidated Financial Statements
-6-


J2 GLOBAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
Three and Nine Months Ended September 30, 2019 and 2020
(unaudited, in thousands, except share amounts)


Accumulated
Common stockAdditional paid-inTreasury stockRetainedother comprehensiveTotal Stockholders’
SharesAmountcapitalSharesAmountearningslossEquity
Balance, July 1, 201947,765,869 $478 $365,687  $ $752,040 $(46,107)$1,072,098 
Net income— — — — — 30,745 — 30,745 
Other comprehensive income, net of tax expense of zero
— — — — — — (8,166)(8,166)
Vested restricted stock26,989 — — — — — —  
Repurchase and retirement of common stock(206,923)(2)(2,160)— — (14,593)— (16,755)
Share based compensation— — 6,446 — — — — 6,446 
Balance, September 30, 201947,585,935 $476 $369,973  $ $768,192 $(54,273)$1,084,368 


Accumulated
Common stockAdditional paid-inTreasury stockRetainedother comprehensiveTotal Stockholders’
SharesAmountcapitalSharesAmountearningslossEquity
Balance, July 1, 202046,892,691 $469 $467,267  $ $850,232 $(54,800)$1,263,168 
Net income— — — — — 60,883 — 60,883 
Other comprehensive income, net of tax expense of $141
— — — — — — (3,194)(3,194)
Vested restricted stock19,893 — — — — — —  
Repurchase and retirement of common stock(2,145,243)(21)(21,442)— — (128,973)— (150,436)
Share based compensation— — 5,800 — — — — 5,800 
Other, net— — 116 — — — — 116 
Balance, September 30, 202044,767,341 $448 $451,741  $ $782,142 $(57,994)$1,176,337 


-7-


Accumulated
Common stockAdditional
paid-in
Treasury stockRetainedother comprehensiveTotal
Stockholders’
SharesAmountcapitalSharesAmountearningslossEquity
Balance, January 1, 201948,082,800 $481 $354,210 (600,000)$(42,543)$769,575 $(45,979)$1,035,744 
Net income— — — — — 95,783 — 95,783 
Other comprehensive income, net of tax expense of $184
— — — — — — (8,294)(8,294)
Dividends ($0.9000 per share)
— — — — — (43,966)— (43,966)
Exercise of stock options156,038 2 5,272 — — — — 5,274 
Issuance of shares under employee stock purchase plan32,154 — 1,995 — — — — 1,995 
Vested restricted stock167,746 1 (1)— — — —  
Repurchase and retirement of common stock(852,803)(8)(9,832)600,000 42,543 (53,265)— (20,562)
Share based compensation— — 18,329 — — 65 — 18,394 
Balance, September 30, 201947,585,935 $476 $369,973  $ $768,192 $(54,273)$1,084,368 


Accumulated
Common stockAdditional
paid-in
Treasury stockRetainedother comprehensiveTotal
Stockholders’
SharesAmountcapitalSharesAmountearningslossEquity
Balance, January 1, 202047,654,929 $476 $465,652  $ $891,526 $(46,462)$1,311,192 
Net income— — — — — 92,580 — 92,580 
Other comprehensive income, net of tax expense of $314
— — — — — — (11,532)(11,532)
Exercise of stock options41,530 — 1,583 — — (631)— 952 
Issuance of shares under employee stock purchase plan53,694 — 3,303 — — — — 3,303 
Exercise of 3.25% Convertible Note
— — (12)— — — — (12)
Vested restricted stock267,894 3 (3)— — — —  
Repurchase and retirement of common stock(3,250,706)(31)(37,541)— — (201,333)— (238,905)
Share based compensation— — 18,643 — — — — 18,643 
Other, net— — 116 — — — — 116 
Balance, September 30, 202044,767,341 $448 $