Financial Performance - Net income for the three months ended September 30, 2022, was 45,541 million RUB, a significant increase from a net loss of 3,908 million RUB in the same period of 2021, representing a 793.2% improvement[9]. - Total comprehensive income for the nine months ended September 30, 2022, was 46,757 million RUB, compared to a loss of 13,031 million RUB in the same period of 2021, indicating a strong recovery[9]. - Operating cash flows provided by operating activities for the nine months ended September 30, 2022, amounted to 43,287 million RUB, a substantial increase from a net loss of 11,792 million RUB in the same period of 2021[12]. - Total revenues for the three months ended September 30, 2022, reached 356,921 million RUB, compared to 133,163 million RUB in the same period of 2021, marking a growth of 168.5%[1]. - Total operating costs and expenses for the three months ended September 30, 2022, were 349,812 million RUB, up from 122,366 million RUB in the same period of 2021, reflecting a 186.5% increase[1]. - The company reported a gain on restructuring of convertible debt amounting to 9,305 million RUB for the three months ended September 30, 2022[1]. - The company reported a net income of RUB 40,560 million for the period, reflecting a significant increase compared to previous periods[21]. - Adjusted EBITDA for the total segments in Q3 2022 was RUB 19,919 million, compared to RUB 5,538 million in Q3 2021, showing a significant increase of 261%[110]. - The company reported a net income before income taxes of RUB 52,359 million for Q3 2022, a substantial recovery from a net loss of RUB 2,786 million in Q3 2021[113]. Assets and Liabilities - As of September 30, 2022, total assets increased to RUB 563,093 million from RUB 515,496 million as of December 31, 2021, representing a growth of approximately 9.2%[5]. - Total current liabilities increased to RUB 156,116 million from RUB 111,106 million, reflecting an increase of 40.5%[5]. - Total liabilities decreased to RUB 236,391 million from RUB 242,571 million, a reduction of approximately 2.6%[5]. - The total shareholders' equity as of September 30, 2022, was RUB 326,661 million, an increase from RUB 273,067 million as of September 30, 2021[18]. - The total amount of ordinary shares outstanding as of September 30, 2022, was 361,156,902 shares, an increase from 358,558,996 shares as of September 30, 2021[18]. - The total liabilities as of September 30, 2022, were not explicitly stated but can be inferred from the total assets and equity figures, indicating a healthy balance sheet structure[21]. - As of September 30, 2022, the total debt of the company was RUB 50,831 million ($885.3 million), a decrease from RUB 88,775 million as of December 31, 2021[89]. Cash Flow and Financing Activities - Cash and cash equivalents rose to RUB 99,866 million, up from RUB 79,275 million, indicating a growth of 26.1%[5]. - The net cash provided by operating activities for the nine months ended September 30, 2022, was 43,287 million RUB, compared to a net cash outflow of 11,792 million RUB in the same period of 2021[12]. - In the nine months ended September 30, 2022, the net cash used in financing activities was RUB (4,815) million, a significant decrease from RUB (68,738) million in the same period of 2021[15]. - The company reported a net change in cash and cash equivalents of RUB 21,618 million for the nine months ended September 30, 2022, compared to RUB (50,959) million in the same period of 2021[15]. - Cash paid for income taxes decreased to RUB 6,989 million in the nine months ended September 30, 2022, from RUB 10,460 million in the same period of 2021[15]. Shareholder Equity and Stock Performance - Shareholders' equity attributable to Yandex N.V. grew to RUB 306,982 million from RUB 258,176 million, marking an increase of 18.9%[5]. - The weighted average number of Class A and Class B shares used in per share computation for diluted earnings was 371,390,423 for the three months ended September 30, 2022[1]. - The diluted net income per share for Class A shares in 2022 was reported at $2.02, while the basic net income per share was 116.38[37]. - The company repurchased 93.2% of the aggregate principal amount of its convertible notes in June 2022[35]. Segment Performance - Search and Portal segment revenues increased to RUB 60,853 million in Q3 2022, up from RUB 41,951 million in Q3 2021, representing a growth of 45%[110]. - E-commerce, Mobility and Delivery segment revenues rose to RUB 63,348 million in Q3 2022, compared to RUB 42,509 million in Q3 2021, marking a 49% increase[110]. - Plus and Entertainment segment revenues reached RUB 7,817 million in Q3 2022, up from RUB 4,311 million in Q3 2021, reflecting an 81% growth[110]. - Classifieds segment revenues grew to RUB 3,371 million in Q3 2022, an increase from RUB 2,421 million in Q3 2021, which is a 39% rise[110]. - Total segment revenues for Q3 2022 amounted to RUB 145,583 million, up from RUB 97,198 million in Q3 2021, indicating a 50% increase[110]. - In the nine months ended September 30, 2022, total segment revenues reached RUB 385,836 million, up from RUB 263,628 million in the same period of 2021, representing a 46% increase[110]. Intangible Assets and Goodwill - Goodwill increased to RUB 143,125 million from RUB 117,864 million, representing a growth of 21.5%[5]. - The total acquisition-related intangible assets as of September 30, 2022, were valued at RUB 26,306 million, reflecting a net carrying value increase from RUB 17,188 million as of December 31, 2021[72]. - The gross amount of goodwill for the E-commerce, Mobility and Delivery segment increased to RUB 133,071 million as of September 30, 2022, from RUB 107,810 million as of June 30, 2021[71]. - The company recognized an impairment loss of RUB 2,740 million ($47.7 million) related to customer relationship assets in the E-commerce, Mobility and Delivery segment[74]. Tax and Legal Matters - The company's income tax expense for the three months ended September 30, 2022, was RUB 13,068 million, representing a 227.6% increase compared to RUB 5,402 million in the same period of 2021[76]. - As of September 30, 2022, unrecognized tax benefits totaled RUB 3,178 million ($55.4 million), which could affect the effective tax rate if recognized[79]. - The company accrued RUB 6,732 million ($117.3 million) for contingencies related to non-income taxes as of September 30, 2022[87]. - The company has identified possible contingencies related to non-income taxes, estimated to be up to RUB 19,839 million ($345.5 million) as of September 30, 2022[87].
Yandex(YNDX) - 2022 Q3 - Quarterly Report