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)

12/31/2023
Q2
9/30/2023
Q1
6/30/2023
Q4
3/31/2023
Q3
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,2258651,034183010
Cash and cash equivalents1,2258651,034183010
Receivables93,504104,93979,444   
Inventory, net of allowances, customer advances and progress billings159,432146,763163,057   
Inventory159,432146,763163,057   
Prepaid expense    353121
Other current assets7,0548,2997,852   
Total current assets:261,215260,866251,3872083130
Noncurrent Assets
Operating lease, right-of-use asset3,9714,8557,493   
Nontrade receivables  747    
Property, plant and equipment12,83113,42111,266   
Intangible assets, net (including goodwill)105,422106,472111,905   
Goodwill89,11689,11687,151   
Intangible assets, net (excluding goodwill)16,30617,35624,754   
Asset, held-in-trust    117,809116,831116,318
Other noncurrent assets1,0191,017270   
Other undisclosed noncurrent assets4,1322,1525,904   
Total noncurrent assets:127,375128,664136,838117,809116,831116,318
TOTAL ASSETS:388,590389,530388,225117,830116,914116,449
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities160,707160,962159,5851,6431,120 
Taxes payable69
Accounts payable154,745151,622149,780   
Accrued liabilities5,9629,3409,8051,6431,050 
Debt125,684133,281127,343   
Business combination, contingent consideration, liability50150    
Due to related parties31436330
Other undisclosed current liabilities16,1936,8466,616736 569
Total current liabilities:302,634301,239293,5442,4101,556899
Noncurrent Liabilities
Long-term debt and lease obligation6,3887,0295,909   
Long-term debt, excluding current maturities      
Finance lease, liability6,3887,0295,909   
Liabilities, other than long-term debt8361,7284,608   
Financial instruments subject to mandatory redemption, settlement terms, share value, amount82206    
Operating lease, liability7541,5224,608   
Other undisclosed noncurrent liabilities  2056941,8851,786
Total noncurrent liabilities:7,2248,75710,7226941,8851,786
Total liabilities:309,858309,996304,2663,1043,4412,685
Equity
Equity, attributable to parent, including:78,73279,53483,959(2,414)(2,938)(2,386)
Common stock555   
Additional paid in capital47,20244,54244,326   
Accumulated other comprehensive loss(77)(77)(66)   
Retained earnings (accumulated deficit)31,60235,06439,694(2,415)(2,939)(2,387)
Other undisclosed equity, attributable to parent    000
Other undisclosed equity    117,141116,411116,150
Total equity:78,73279,53483,959114,726113,473113,764
TOTAL LIABILITIES AND EQUITY:388,590389,530388,225117,830116,914116,449

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

12/31/2023
Q2
9/30/2023
Q1
6/30/2023
Q4
3/31/2023
Q3
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Revenues226,755247,132227,728   
Cost of revenue
(Cost of Goods and Services Sold)
(200,501)(216,891)(200,402)   
Gross profit:26,25430,24127,326   
Operating expenses(27,841)(29,938)(34,733)(721)(635)(678)
Operating income (loss):(1,587)303(7,407)(721)(635)(678)
Nonoperating income (expense)(3,140)(2,611)(3,207)2,1694141,536
Investment income, nonoperating    978513148
Interest and debt expense(3,140)(2,610)(3,207)   
Income (loss) from continuing operations before equity method investments, income taxes:(7,867)(4,918)(13,821)1,448(221)859
Other undisclosed income from continuing operations before income taxes3,1402,6103,207   
Income (loss) from continuing operations before income taxes:(4,727)(2,308)(10,614)1,448(221)859
Income tax expense (benefit)1,265(2,322)2,864(195)(69) 
Income (loss) from continuing operations:(3,462)(4,630)(7,750)1,253(290)859
Income (loss) before gain (loss) on sale of properties:(290)859
Net income (loss) attributable to parent:(3,462)(4,630)(7,750)1,253(290)859
Preferred stock dividends and other adjustments     (261) 
Other undisclosed net loss available to common stockholders, basic    (991)  
Net income (loss) available to common stockholders, diluted:(3,462)(4,630)(7,750)263(552)859

Comprehensive Income ($ in thousands)

12/31/2023
Q2
9/30/2023
Q1
6/30/2023
Q4
3/31/2023
Q3
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Net income (loss):(3,462)(4,630)(7,750)1,253(290)859
Comprehensive income (loss):(3,462)(4,630)(7,750)1,253(290)859
Other undisclosed comprehensive loss, net of tax, attributable to parent  (11)    
Comprehensive income (loss), net of tax, attributable to parent:(3,462)(4,641)(7,750)1,253(290)859

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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