American Virtual Cloud Technologies, Inc. (AVCT) Financial Statements (2024 and earlier)

Company Profile

Business Address 1720 PEACHTREE STREET
ATLANTA, GA 30309
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)

3/31/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
3/31/2020
3/31/2019
3/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments12,62731,1199,94410135483
Cash and cash equivalents12,62731,1199,94410135483
Receivables7,3909,13722,837   
Inventory, net of allowances, customer advances and progress billings  (148)1,057   
Inventory  (148)1,057   
Prepaid expense6,3852,1921,601611076
Asset, held-in-trust     63184
Other current assets    131232
Other undisclosed current assets  27,9235611,868  
Total current assets:26,40270,22336,0001,952221776
Noncurrent Assets
Property, plant and equipment 4,7844,75310,061101417
Long-term investments and receivables, including:  41    
Other undisclosed long-term investments and receivables  41    
Intangible assets, net (including goodwill)  30,57340,606   
Goodwill  10,468    
Intangible assets, net (excluding goodwill)  20,10540,606   
Regulated entity, other noncurrent assets  700    
Asset, held-in-trust    1290,392311,919
Other noncurrent assets 7231,26967   
Deferred tax assets, net216 
Other undisclosed noncurrent assets  10,41266,273   
Total noncurrent assets: 5,50747,748117,00711290,622311,937
TOTAL ASSETS:31,909117,971153,0071,963290,842312,712
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:8,65117,08232,7058,0865,2772,900
Taxes payable111 06381
Accounts payable2,980 32,7058,0855,2142,819
Accrued liabilities 1,428    
Other undisclosed accounts payable and accrued liabilities 5,67115,543    
Deferred revenue 23824,608 
Debt 2,31526,39316,5871,500  
Disposal group, including discontinued operation  29,237    
Other liabilities 115     
Due to related parties    7,0663,222 
Other undisclosed current liabilities 5,000500   
Total current liabilities:11,10477,79454,40016,6518,4992,900
Noncurrent Liabilities
Liabilities, other than long-term debt9411023,459   
Accounts payable and accrued liabilities 500     
Deferred income tax liabilities   3,459 
Disposal group, including discontinued operation, liabilities  102    
Other liabilities441     
Other undisclosed noncurrent liabilities1,37339,17347,979   
Total noncurrent liabilities:2,31439,27551,438   
Total liabilities:13,418117,069105,83816,6518,4992,900
Equity
Equity, attributable to parent18,49190247,169(14,688)5,0005,000
Common stock392898
Additional paid in capital262,115204,72190,828 6,5807,571
Accumulated deficit(243,627)(203,828)(43,661)(14,696)(1,589)(2,579)
Total equity:18,49190247,169(14,688)5,0005,000
Other undisclosed liabilities and equity     277,343304,812
TOTAL LIABILITIES AND EQUITY:31,909117,971153,0071,963290,842312,712

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

3/31/2023
TTM
12/31/2022
12/31/2021
12/31/2020
3/31/2020
3/31/2019
3/31/2018
Revenues16,8112,437    
Cost of revenue(18,372)     
Gross profit:(1,561)2,437    
Operating expenses(45,137)11,590 (6,173)(4,508)(3,939)
Other undisclosed operating loss(10,468)     
Operating income (loss):(57,166)14,027 (6,173)(4,508)(3,939)
Nonoperating income17,19136,983 1,3655,2821,603
Investment income, nonoperating17,191  1,3655,2821,603
Debt instrument, convertible, beneficial conversion feature  36,983    
Interest and debt expense(4,715)(736)  (336) 
Other undisclosed income from continuing operations before equity method investments, income taxes     336 
Income (loss) from continuing operations before income taxes:(44,690)50,274 (4,808)774(2,336)
Income tax expense (benefit)(548)  (216)216(184)
Other undisclosed income from continuing operations4,715  6,1624,0793,939
Income (loss) from continuing operations:(40,523)50,274 1,1385,0691,419
Income (loss) before gain (loss) on sale of properties:50,2741,1385,0691,419
Income (loss) from discontinued operations724     
Net income (loss):(39,799)50,274 1,1385,0691,419
Net loss attributable to noncontrolling interest  (11,951)    
Other undisclosed net loss attributable to parent    (6,162)(4,079)(3,939)
Net income (loss) attributable to parent:(39,799)38,323 (5,024)990(2,520)
Preferred stock dividends and other adjustments     (4,841)(1,387)
Net income (loss) available to common stockholders, basic:(39,799)38,323 (5,024)(3,852)(3,907)
Interest on convertible debt      
Net income (loss) available to common stockholders, diluted:(39,799)38,323 (5,024)(3,852)(3,907)

Comprehensive Income ($ in thousands)

3/31/2023
TTM
12/31/2022
12/31/2021
12/31/2020
3/31/2020
3/31/2019
3/31/2018
Net income (loss):(39,799)50,274 1,1385,0691,419
Comprehensive income (loss):(39,799)50,274 1,1385,0691,419
Comprehensive loss, net of tax, attributable to noncontrolling interest  (11,951)    
Comprehensive income (loss), net of tax, attributable to parent:(39,799)38,323 1,1385,0691,419

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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