Asure Software Inc (ASUR) Financial Statements (2023 and earlier)

Company Profile

Business Address 405 COLORADO ST
AUSTIN, TX 78701
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7373 - Computer Integrated Systems Design (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

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

6/30/2023
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 investments17,01013,42728,57728,82615,44427,792
Cash and cash equivalents17,01013,42728,57728,82615,44427,792
Receivables12,1235,3084,8524,80816,02813,361
Inventory, net of allowances, customer advances and progress billings2512464496563,117509
Inventory2512464496563,117509
Prepaid expense10,30413,4753,28412,2183,1202,588
Funds held for clients203,588217,376321,069137,935122,20642,328
Total current assets:243,276249,832358,231184,443159,91586,578
Noncurrent Assets
Operating lease, right-of-use asset7,0655,7486,450 
Property, plant and equipment11,4398,9458,2817,8678,9485,217
Intangible assets, net (including goodwill)152,605164,584138,510132,547188,147110,902
Goodwill86,01186,01173,95868,697111,38777,348
Intangible assets, net (excluding goodwill)66,59478,57364,55263,85076,76033,554
Other noncurrent assets5,5234,1363,9513,2244,090614
Other undisclosed noncurrent assets    6,963  
Total noncurrent assets:176,632183,413157,192150,601201,185116,733
TOTAL ASSETS:419,908433,245515,423335,044361,100203,311
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities11,7136,5695,58411,7168,7205,251
Employee-related liabilities3,5682,9163,4242,8242,477
Accounts payable2,1945651,2881,7363,6621,912
Accrued liabilities9,5192,4361,3806,5562,234862
Deferred revenue8,4613,7505,838 
Debt4,1061,90712,3102,5714,8358,902
Business combination, contingent consideration, liability2,9551,9053,880   
Deferred revenue and credits13,203
Deferred tax liabilities1,5661,070
Contract with customer, liability5,500123,170
Other undisclosed current liabilities207,948218,695322,411146,80210,18141,126
Total current liabilities:235,183232,826350,023166,589148,47269,552
Noncurrent Liabilities
Long-term debt and lease obligation30,79537,86617,59124,142107,229 
Long-term debt, excluding current maturities30,79533,12012,22524,142107,229 
Liabilities, other than long-term debt8,8644,3132,1564612,0053,012
Deferred revenue and credits1,125
Deferred revenue78836111 
Contract with customer, liability322 
Deferred tax liabilities, net1,566 
Deferred income tax liabilities1,5031,595888 
Other liabilities1142581,1571394391,887
Operating lease, liability6,4594,7465,366 
Business combination, contingent consideration, liability  2,424    
Other undisclosed noncurrent liabilities    6,27387666,973
Total noncurrent liabilities:39,65942,17919,74730,876110,11069,985
Total liabilities:274,842275,005369,770197,465258,582139,537
Equity
Equity, attributable to parent, including:145,066158,240145,653137,579102,51863,774
Treasury stock, value(5,017)(5,017)(5,017)(5,017)(5,017)(5,017)
Additional paid in capital433,586429,912419,827396,102391,927346,322
Accumulated other comprehensive income (loss)(2,483)(99)604(25)(906)(63)
Accumulated deficit(281,226)(266,760)(269,954)(253,642)(283,643)(277,597)
Other undisclosed equity, attributable to parent206204193161157129
Other undisclosed equity   1   
Total equity:145,066158,240145,654137,579102,51863,774
Other undisclosed liabilities and equity   (1)   
TOTAL LIABILITIES AND EQUITY:419,908433,245515,423335,044361,100203,311

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

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues95,82876,06465,50773,15088,95254,442
Revenue, net15,175
Cost of revenue
(Cost of Goods and Services Sold)
(33,318)(29,500)(27,414)(29,836)(30,830)(12,619)
Gross profit:62,51046,56438,09343,31458,12241,823
Operating expenses(73,817)(59,376)(51,846)(94,269)(64,385)(42,823)
Operating loss:(11,307)(12,812)(13,753)(50,955)(6,263)(1,000)
Nonoperating income (expense) 1,391   (8,514)(4,626)
Other nonoperating income 1,391     
Interest and debt expense  8,312(2,221)(15,447)479(4,626)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes    (479)4,626
Loss from continuing operations before equity method investments, income taxes:(9,916)(4,500)(15,974)(66,402)(14,777)(5,626)
Other undisclosed income (loss) from continuing operations before income taxes(4,438)8,495    
Income (loss) from continuing operations before income taxes:(14,354)3,995(15,974)(66,402)(14,777)(5,626)
Income tax expense (benefit)(112)(802)(337)24,1117,229(96)
Income (loss) from continuing operations:(14,466)3,193(16,311)(42,291)(7,548)(5,722)
Income (loss) before gain (loss) on sale of properties:3,193(16,311)30,001(7,548)(5,722)
Income from discontinued operations    72,292  
Net income (loss) available to common stockholders, diluted:(14,466)3,193(16,311)30,001(7,548)(5,722)

Comprehensive Income ($ in thousands)

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(14,466)3,193(16,311)30,001(7,548)(5,722)
Other comprehensive income (loss)(2,384)(703)629(591)  
Other undisclosed comprehensive loss      
Comprehensive income (loss):(16,850)2,490(15,682)29,410(7,548)(5,722)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent    (843)(68)
Comprehensive income (loss), net of tax, attributable to parent:(16,850)2,490(15,682)29,410(8,391)(5,790)

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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