Adara Acquisition Corp. (ADRA) Financial Statements (2024 and earlier)

Company Profile

Business Address 8201 PETERS ROAD
PLANTATION, FL 33324
State of Incorp. DE
Fiscal Year End June 30
Industry (SIC) 5099 - Durable Goods, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
6/30/2023
12/31/2022
12/31/2021
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments86518724
Cash and cash equivalents86518724
Receivables104,939  
Inventory, net of allowances, customer advances and progress billings146,763  
Inventory146,763  
Prepaid expense  3199
Other current assets8,299  
Total current assets:260,86620924
Noncurrent Assets
Operating lease, right-of-use asset4,855  
Nontrade receivables 747  
Property, plant and equipment13,421  
Intangible assets, net (including goodwill)106,472  
Goodwill89,116  
Intangible assets, net (excluding goodwill)17,356  
Asset, held-in-trust  117,809116,160
Other noncurrent assets1,017  
Other undisclosed noncurrent assets2,152  
Total noncurrent assets:128,664117,809116,160
TOTAL ASSETS:389,530117,830117,084
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities160,9621,643 
Accounts payable151,622  
Accrued liabilities9,3401,643 
Debt133,281  
Business combination, contingent consideration, liability150  
Due to related parties 31 
Other undisclosed current liabilities6,846736440
Total current liabilities:301,2392,410440
Noncurrent Liabilities
Long-term debt and lease obligation7,029  
Finance lease, liability7,029  
Liabilities, other than long-term debt1,728  
Financial instruments subject to mandatory redemption, settlement terms, share value, amount206  
Operating lease, liability1,522  
Other undisclosed noncurrent liabilities  6944,861
Total noncurrent liabilities:8,7576944,861
Total liabilities:309,9963,1045,301
Equity
Equity, attributable to parent, including:79,534(2,414)(4,367)
Common stock5  
Additional paid in capital44,542  
Accumulated other comprehensive loss(77)  
Retained earnings (accumulated deficit)35,064(2,415)(4,367)
Other undisclosed equity, attributable to parent  00
Other undisclosed equity  117,141116,150
Total equity:79,534114,726111,783
TOTAL LIABILITIES AND EQUITY:389,530117,830117,084

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
6/30/2023
12/31/2022
12/31/2021
Revenues1,158,722  
Cost of revenue
(Cost of Goods and Services Sold)
(1,054,788)  
Gross profit:103,934  
Operating expenses(136,680)(2,608)(977)
Operating loss:(32,746)(2,608)(977)
Nonoperating income (expense)(11,716)5,8164,221
Investment income, nonoperating 1,64910
Interest and debt expense(11,715)  
Income (loss) from continuing operations before equity method investments, income taxes:(56,177)3,2083,244
Other undisclosed income from continuing operations before income taxes11,715  
Income (loss) from continuing operations before income taxes:(44,462)3,2083,244
Income tax expense (benefit)9,058(264)221
Income (loss) from continuing operations:(35,404)2,9443,465
Income before gain (loss) on sale of properties:3,465
Other undisclosed net loss   (221)
Net income (loss) attributable to parent:(35,404)2,9443,244
Preferred stock dividends and other adjustments  (991)(7,919)
Other undisclosed net loss available to common stockholders, basic   
Net income (loss) available to common stockholders, diluted:(35,404)1,953(4,675)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
6/30/2023
12/31/2022
12/31/2021
Net income (loss):(35,404)2,9443,244
Comprehensive income (loss):(35,404)2,9443,244
Other undisclosed comprehensive loss, net of tax, attributable to parent(11)  
Comprehensive income (loss), net of tax, attributable to parent:(35,415)2,9443,244

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.

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