AVANTAX, INC. Financial Statements (2024 and earlier)
Company Profile
| Business Address |
3200 OLYMPUS BLVD. DALLAS, TX 75019 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6199 - Finance Services (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 263,928 | 134,824 | 150,125 | 80,820 | 84,524 | 62,311 | |||
| Cash and cash equivalents | 263,928 | 134,824 | 150,125 | 80,820 | 84,524 | 62,311 | |||
| Receivables | 24,117 | 21,906 | 12,736 | 16,266 | 14,977 | 10,694 | |||
| Prepaid expense | 7,857 | 18,476 | 9,643 | 11,787 | 7,169 | 6,972 | |||
| Other current assets | 1,219 | 678 | 562 | 586 | 393 | ||||
| Other undisclosed current assets | 26,630 | 25,073 | 27,486 | 29,708 | 23,812 | 19,027 | |||
| Total current assets: | 323,751 | 200,279 | 200,668 | 139,143 | 131,068 | 99,397 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 19,361 | 20,466 | 23,455 | 10,151 | ✕ | ✕ | |||
| Property, plant and equipment | 53,041 | 73,638 | 58,500 | 18,706 | 12,389 | 9,831 | |||
| Intangible assets, net (including goodwill) | 532,281 | 757,110 | 777,000 | 952,586 | 843,288 | 877,242 | |||
| Goodwill | 266,279 | 454,821 | 454,821 | 662,375 | 548,685 | 549,037 | |||
| Intangible assets, net (excluding goodwill) | 266,002 | 302,289 | 322,179 | 290,211 | 294,603 | 328,205 | |||
| Deferred income tax assets | 9,997 | ✕ | ✕ | ||||||
| Other noncurrent assets | 35,081 | 20,450 | 4,569 | 6,989 | 10,980 | 15,201 | |||
| Total noncurrent assets: | 639,764 | 871,664 | 863,524 | 998,429 | 866,657 | 902,274 | |||
| TOTAL ASSETS: | 963,515 | 1,071,943 | 1,064,192 | 1,137,572 | 997,725 | 1,001,671 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 7,531 | 11,087 | 9,290 | 10,969 | 3,798 | 4,413 | |||
| Accounts payable | 7,531 | 8,216 | 9,290 | 10,969 | 3,798 | 4,413 | |||
| Accrued liabilities | 2,871 | ||||||||
| Deferred revenue | 4,583 | 13,180 | 12,298 | 12,014 | ✕ | ✕ | |||
| Debt | 1,812 | 1,784 | 14,451 | ||||||
| Other liabilities | 111,212 | 65,678 | 56,419 | 36,144 | 19,026 | 19,577 | |||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 9,953 | ||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 10,257 | ✕ | ||
| Other undisclosed current liabilities | 18,968 | 19,965 | 21,325 | 19,954 | 15,199 | 17,813 | |||
| Total current liabilities: | 142,294 | 111,722 | 101,116 | 93,532 | 48,280 | 51,756 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 586,401 | 588,957 | 381,485 | 260,390 | 338,081 | ||||
| Long-term debt, excluding current maturities | 553,134 | 552,553 | 381,485 | 260,390 | 338,081 | ||||
| Liabilities, other than long-term debt | 78,023 | 32,198 | 61,829 | 19,040 | 16,121 | 52,414 | |||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 804 | ||
| Deferred revenue | 4,396 | 5,322 | 6,247 | 7,172 | ✕ | ✕ | |||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 8,581 | ✕ | ||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | 43,433 | |||
| Deferred income tax liabilities | 20,819 | 20,124 | 30,663 | ✕ | ✕ | ||||
| Disposal group, including discontinued operation, liabilities | 5,916 | ||||||||
| Other liabilities | 22,476 | 6,752 | 24,919 | 5,952 | 7,540 | 8,177 | |||
| Operating lease, liability | 30,332 | 33,267 | 36,404 | ✕ | ✕ | ||||
| Other undisclosed noncurrent liabilities | 40,394 | ||||||||
| Total noncurrent liabilities: | 78,023 | 618,599 | 650,786 | 400,525 | 316,905 | 390,495 | |||
| Total liabilities: | 220,317 | 730,321 | 751,902 | 494,057 | 365,185 | 442,251 | |||
| Temporary equity, carrying amount | 24,945 | 18,033 | |||||||
| Equity | |||||||||
| Equity, attributable to parent | 743,198 | 341,622 | 312,290 | 643,515 | 607,595 | 541,387 | |||
| Common stock | 5 | 5 | 5 | 5 | 5 | 5 | |||
| Treasury stock, value | (63,399) | (28,399) | (28,399) | (28,399) | |||||
| Additional paid in capital | 1,636,134 | 1,619,805 | 1,598,230 | 1,586,972 | 1,569,725 | 1,555,560 | |||
| Accumulated other comprehensive loss | (272) | (446) | (4) | ||||||
| Accumulated deficit | (829,542) | (1,249,789) | (1,257,546) | (914,791) | (961,689) | (1,014,174) | |||
| Total equity: | 743,198 | 341,622 | 312,290 | 643,515 | 607,595 | 541,387 | |||
| TOTAL LIABILITIES AND EQUITY: | 963,515 | 1,071,943 | 1,064,192 | 1,137,572 | 997,725 | 1,001,671 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 666,496 | 885,200 | 754,952 | 717,945 | 560,456 | 509,557 | ||
| Cost of revenue | (449,433) | (539,153) | (454,113) | (362,772) | (263,719) | (246,072) | ||
| Cost of goods and services sold | (444,918) | (479,851) | (398,290) | (246,072) | ||||
| Gross profit: | 217,063 | 346,047 | 300,839 | 355,173 | 296,737 | 263,485 | ||
| Operating expenses | (228,401) | (315,428) | (569,959) | (717,936) | (492,779) | (461,520) | ||
| Other undisclosed operating income | 362,772 | 263,719 | 246,072 | |||||
| Operating income (loss): | (11,338) | 30,619 | (269,120) | 9 | 67,677 | 48,037 | ||
| Nonoperating income (expense) | (475) | 21 | (31,304) | (16,915) | (15,797) | (44,551) | ||
| Investment income, nonoperating | 21 | |||||||
| Other nonoperating income (expense) | (475) | (31,304) | (16,915) | (15,797) | (44,551) | |||
| Interest and debt expense | (217) | (31,475) | (26,635) | (19,017) | (1,534) | (20,445) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 26,635 | 19,017 | 1,534 | 20,445 | ||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (12,030) | (835) | (300,424) | (16,906) | 51,880 | 3,486 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 217 | (626) | ||||||
| Income (loss) from continuing operations before income taxes: | (11,813) | (1,461) | (300,424) | (16,906) | 51,880 | 3,486 | ||
| Income tax expense (benefit) | 14,934 | 9,218 | (42,331) | 65,054 | (311) | 25,890 | ||
| Income (loss) from continuing operations: | 3,121 | 7,757 | (342,755) | 48,148 | 51,569 | 29,376 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 7,757 | (342,755) | 48,148 | 51,569 | 29,376 | |
| Income from discontinued operations | 417,126 | |||||||
| Other undisclosed net income | ||||||||
| Net income (loss): | 420,247 | 7,757 | (342,755) | 48,148 | 51,569 | 29,376 | ||
| Net loss attributable to noncontrolling interest | (2,337) | |||||||
| Other undisclosed net income (loss) attributable to parent | (935) | |||||||
| Net income (loss) attributable to parent: | 420,247 | 7,757 | (342,755) | 48,148 | 50,634 | 27,039 | ||
| Preferred stock dividends and other adjustments | (5,977) | |||||||
| Net income (loss) available to common stockholders, diluted: | 420,247 | 7,757 | (342,755) | 48,148 | 44,657 | 27,039 | ||
Comprehensive Income ($ in thousands)
| 9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 420,247 | 7,757 | (342,755) | 48,148 | 51,569 | 29,376 | ||
| Other comprehensive income (loss) | 272 | 174 | (442) | 377 | ||||
| Comprehensive income (loss): | 420,247 | 7,757 | (342,483) | 48,322 | 51,127 | 29,753 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (935) | (4,674) | ||||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 935 | 4,674 | ||||||
| Comprehensive income (loss), net of tax, attributable to parent: | 420,247 | 7,757 | (342,483) | 48,322 | 51,127 | 29,753 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.