Arotech Corporation (ARTX) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
1229 OAK VALLEY DRIVE ANN ARBOR, MI 48108 |
| State of Incorp. | MI |
| Fiscal Year End | December 31 |
| Industry (SIC) | 369 - Miscellaneous Electrical Machinery, Equipment, and Supplies (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2019 MRQ | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 4,222 | 5,205 | 7,131 | 10,608 | 11,292 | 5,821 | |||
| Cash and cash equivalents | 4,222 | 5,205 | 7,131 | 10,608 | 11,292 | 5,821 | |||
| Restricted cash and investments | 223 | 284 | 269 | 90 | 236 | ||||
| Receivables | 16,302 | 35,421 | 27,864 | 29,600 | 311,470 | 178,676 | |||
| Inventory, net of allowances, customer advances and progress billings | 9,913 | 8,655 | 10,318 | 9,608 | 9,812 | 10,075 | |||
| Inventory | 9,913 | 8,655 | 10,318 | 9,608 | 9,812 | 10,075 | |||
| Prepaid expense | 820 | 1,359 | 761 | 626 | 819 | 690 | |||
| Contract with customer, asset, after allowance for credit loss | 17,868 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Other undisclosed current assets | 5,126 | 916 | 1,335 | 316 | (277,601) | (156,661) | |||
| Total current assets: | 54,475 | 51,839 | 47,678 | 50,848 | 56,028 | 38,601 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 8,914 | 9,276 | 5,915 | 6,440 | 6,463 | 4,927 | |||
| Long-term investments and receivables, including: | 543 | 184 | 57 | 23 | 23 | 74 | |||
| Other undisclosed long-term investments and receivables | 543 | 184 | 57 | 23 | 23 | 74 | |||
| Intangible assets, net (including goodwill) | 50,604 | 51,344 | 52,313 | 54,798 | 57,263 | 32,084 | |||
| Goodwill | 46,138 | 46,138 | 45,490 | 45,463 | 45,422 | 31,025 | |||
| Intangible assets, net (excluding goodwill) | 4,466 | 5,206 | 6,823 | 9,335 | 11,840 | 1,059 | |||
| Disposal group, including discontinued operation, noncurrent assets | 270 | ✕ | |||||||
| Other undisclosed noncurrent assets | 3,428 | 3,755 | 3,177 | 5,384 | 4,962 | 4,969 | |||
| Total noncurrent assets: | 63,489 | 64,559 | 61,732 | 66,645 | 68,711 | 42,054 | |||
| TOTAL ASSETS: | 117,964 | 116,398 | 109,410 | 117,493 | 124,739 | 80,655 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 6,498 | 6,640 | 5,598 | 5,560 | 9,105 | 6,012 | |||
| Employee-related liabilities | 3,628 | 3,310 | 3,068 | 3,310 | 4,254 | 4,173 | |||
| Accounts payable | 6,772 | 5,107 | |||||||
| Accounts payable and other accrued liabilities | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 181 | ||
| Accrued liabilities | 1,031 | 1,206 | 808 | 829 | 589 | ||||
| Other undisclosed accounts payable and accrued liabilities | 1,839 | 2,124 | 1,721 | 1,421 | (2,510) | (3,449) | |||
| Debt | 7,705 | 7,340 | 4,802 | 8,422 | 4,414 | 95 | |||
| Business combination, contingent consideration, liability | 2,500 | ✕ | |||||||
| Deferred revenue and credits | ✕ | ✕ | 6,778 | 6,421 | 6,880 | 7,826 | 7,020 | ||
| Contract with customer, liability | ✕ | 7,055 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other undisclosed current liabilities | 6,443 | 5,560 | 6,940 | 5,914 | 4,272 | 5,107 | |||
| Total current liabilities: | 27,701 | 26,319 | 23,761 | 26,776 | 28,117 | 18,235 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 6,361 | 8,571 | 8,704 | 11,857 | 16,934 | 1,830 | |||
| Long-term debt, excluding current maturities | 6,361 | 8,571 | 8,704 | 11,857 | 16,934 | 1,830 | |||
| Liabilities, other than long-term debt | 4,263 | 10,416 | 11,861 | 14,813 | 13,332 | 12,613 | |||
| Accounts payable and accrued liabilities | 4,126 | 4,710 | 3,892 | 7,517 | 7,052 | 7,020 | |||
| Deferred tax liabilities, net | ✕ | 5,601 | 7,868 | 7,032 | 6,117 | 5,519 | |||
| Other liabilities | 138 | 105 | 101 | 264 | 163 | 74 | |||
| Other undisclosed noncurrent liabilities | 2,863 | ||||||||
| Total noncurrent liabilities: | 13,487 | 18,986 | 20,564 | 26,669 | 30,266 | 14,443 | |||
| Total liabilities: | 41,188 | 45,305 | 44,325 | 53,446 | 58,384 | 32,678 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 76,776 | 71,093 | 65,085 | 64,047 | 66,355 | 47,977 | |||
| Additional paid in capital | 251,551 | 250,827 | 250,405 | 246,591 | 245,971 | 229,917 | |||
| Accumulated other comprehensive income | 2,366 | 2,479 | 727 | 672 | 657 | 1,863 | |||
| Accumulated deficit | (176,498) | (181,569) | (185,403) | (182,555) | (179,610) | (183,097) | |||
| Receivable from shareholders or affiliates for issuance of capital stock | (908) | (908) | (908) | (908) | (908) | (908) | |||
| Other undisclosed equity, attributable to parent | 265 | 264 | 264 | 247 | 245 | 202 | |||
| Total equity: | 76,776 | 71,093 | 65,085 | 64,047 | 66,355 | 47,977 | |||
| TOTAL LIABILITIES AND EQUITY: | 117,964 | 116,398 | 109,410 | 117,493 | 124,739 | 80,655 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 96,600 | 98,723 | 92,976 | 96,574 | 103,562 | 88,571 | ||
| Cost of revenue | (67,402) | (71,083) | (64,825) | (68,456) | (72,222) | (65,043) | ||
| Cost of goods and services sold | (67,402) | (71,083) | (64,825) | (68,456) | (70,855) | (64,480) | ||
| Gross profit: | 29,197 | 27,640 | 28,150 | 28,118 | 31,340 | 23,528 | ||
| Operating expenses | (25,803) | (24,745) | (27,936) | (28,725) | (41,035) | (20,842) | ||
| Other undisclosed operating income | 13,200 | 853 | ||||||
| Operating income (loss): | 3,395 | 2,895 | 214 | (608) | 3,506 | 3,540 | ||
| Nonoperating income (expense) | (961) | (1,085) | (910) | (1,176) | 1,005 | (213) | ||
| Other nonoperating income (expense) | (39) | (8) | 65 | (24) | 2,559 | 286 | ||
| Income (loss) from continuing operations before income taxes: | 2,434 | 1,810 | (696) | (1,784) | 4,511 | 3,327 | ||
| Income tax expense (benefit) | (564) | 2,024 | (783) | (1,161) | (1,024) | (1,053) | ||
| Income (loss) from continuing operations: | 1,870 | 3,834 | (1,480) | (2,945) | 3,487 | 2,274 | ||
| Income (loss) before gain (loss) on sale of properties: | 1,870 | 3,834 | (2,848) | (2,945) | 3,487 | 2,152 | ||
| Loss from discontinued operations | (1,369) | (122) | ||||||
| Net income (loss) available to common stockholders, diluted: | 1,870 | 3,834 | (2,848) | (2,945) | 3,487 | 2,152 | ||
Comprehensive Income ($ in thousands)
| 9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 1,870 | 3,834 | (2,848) | (2,945) | 3,487 | 2,152 | ||
| Other comprehensive income (loss) | (7) | (249) | (48) | 50 | (174) | |||
| Comprehensive income (loss): | 1,863 | 3,586 | (2,896) | (2,895) | 3,313 | 2,152 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (106) | 2,001 | 103 | (35) | (1,032) | 628 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 1,757 | 5,587 | (2,793) | (2,930) | 2,281 | 2,780 | ||
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.