American Virtual Cloud Technologies, Inc. (AVCT) Financial Statements (2023 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)
| 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 investments | 12,627 | 31,119 | 9,944 | 10 | 135 | 483 | ||
| Cash and cash equivalents | 12,627 | 31,119 | 9,944 | 10 | 135 | 483 | ||
| Receivables | 7,390 | 9,137 | 22,837 | |||||
| Inventory, net of allowances, customer advances and progress billings | (148) | 1,057 | ||||||
| Inventory | (148) | 1,057 | ||||||
| Prepaid expense | 6,385 | 2,192 | 1,601 | 61 | 10 | 76 | ||
| Asset, held-in-trust | 63 | 184 | ||||||
| Other current assets | 13 | 12 | 32 | |||||
| Other undisclosed current assets | 27,923 | 561 | 1,868 | |||||
| Total current assets: | 26,402 | 70,223 | 36,000 | 1,952 | 221 | 776 | ||
| Noncurrent Assets | ||||||||
| Property, plant and equipment | 4,784 | 4,753 | 10,061 | 10 | 14 | 17 | ||
| Long-term investments and receivables, including: | 41 | |||||||
| Other undisclosed long-term investments and receivables | 41 | |||||||
| Intangible assets, net (including goodwill) | 30,573 | 40,606 | ||||||
| Goodwill | 10,468 | |||||||
| Intangible assets, net (excluding goodwill) | 20,105 | 40,606 | ||||||
| Regulated entity, other noncurrent assets | 700 | |||||||
| Asset, held-in-trust | 1 | 290,392 | 311,919 | |||||
| Other noncurrent assets | 723 | 1,269 | 67 | |||||
| Deferred tax assets, net | ✕ | ✕ | ✕ | ✕ | 216 | |||
| Other undisclosed noncurrent assets | 10,412 | 66,273 | ||||||
| Total noncurrent assets: | 5,507 | 47,748 | 117,007 | 11 | 290,622 | 311,937 | ||
| TOTAL ASSETS: | 31,909 | 117,971 | 153,007 | 1,963 | 290,842 | 312,712 | ||
| LIABILITIES AND EQUITY | ||||||||
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued liabilities, including: | 8,651 | 17,082 | 32,705 | 8,086 | 5,277 | 2,900 | ||
| Taxes payable | ✕ | 111 | 0 | 63 | 81 | |||
| Accounts payable | 2,980 | 32,705 | 8,085 | 5,214 | 2,819 | |||
| Accrued liabilities | 1,428 | |||||||
| Other undisclosed accounts payable and accrued liabilities | 5,671 | 15,543 | ||||||
| Deferred revenue | 23 | 82 | 4,608 | ✕ | ✕ | |||
| Debt | 2,315 | 26,393 | 16,587 | 1,500 | ||||
| Disposal group, including discontinued operation | 29,237 | |||||||
| Due to related parties | 7,066 | 3,222 | ||||||
| Other liabilities | 115 | |||||||
| Other undisclosed current liabilities | 5,000 | 500 | ||||||
| Total current liabilities: | 11,104 | 77,794 | 54,400 | 16,651 | 8,499 | 2,900 | ||
| Noncurrent Liabilities | ||||||||
| Liabilities, other than long-term debt | 941 | 102 | 3,459 | |||||
| Accounts payable and accrued liabilities | 500 | |||||||
| Deferred income tax liabilities | 3,459 | ✕ | ✕ | |||||
| Disposal group, including discontinued operation, liabilities | 102 | |||||||
| Other liabilities | 441 | |||||||
| Other undisclosed noncurrent liabilities | 1,373 | 39,173 | 47,979 | |||||
| Total noncurrent liabilities: | 2,314 | 39,275 | 51,438 | |||||
| Total liabilities: | 13,418 | 117,069 | 105,838 | 16,651 | 8,499 | 2,900 | ||
| Equity | ||||||||
| Equity, attributable to parent | 18,491 | 902 | 47,169 | (14,688) | 5,000 | 5,000 | ||
| Common stock | 3 | 9 | 2 | 8 | 9 | 8 | ||
| Additional paid in capital | 262,115 | 204,721 | 90,828 | 6,580 | 7,571 | |||
| Accumulated deficit | (243,627) | (203,828) | (43,661) | (14,696) | (1,589) | (2,579) | ||
| Total equity: | 18,491 | 902 | 47,169 | (14,688) | 5,000 | 5,000 | ||
| Other undisclosed liabilities and equity | 277,343 | 304,812 | ||||||
| TOTAL LIABILITIES AND EQUITY: | 31,909 | 117,971 | 153,007 | 1,963 | 290,842 | 312,712 | ||
Income Statement (P&L) ($ in thousands)
| 12/31/2022 | 12/31/2021 | 12/31/2020 | 3/31/2020 | 3/31/2019 | 3/31/2018 | ||
|---|---|---|---|---|---|---|---|
| Revenues | 16,811 | 2,437 | |||||
| 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 income | 17,191 | 36,983 | 1,365 | 5,282 | 1,603 | ||
| Investment income, nonoperating | 17,191 | 1,365 | 5,282 | 1,603 | |||
| 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 operations | 4,715 | 6,162 | 4,079 | 3,939 | |||
| Income (loss) from continuing operations: | (40,523) | 50,274 | 1,138 | 5,069 | 1,419 | ||
| Income before gain (loss) on sale of properties: | ✕ | 50,274 | ✕ | 1,138 | 5,069 | 1,419 | |
| Income from discontinued operations | 724 | ||||||
| Net income (loss): | (39,799) | 50,274 | 1,138 | 5,069 | 1,419 | ||
| 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, diluted: | (39,799) | 38,323 | (5,024) | (3,852) | (3,907) | ||
Comprehensive Income ($ in thousands)
| 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 | 1,138 | 5,069 | 1,419 | ||
| Comprehensive income (loss): | (39,799) | 50,274 | 1,138 | 5,069 | 1,419 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (11,951) | ||||||
| Comprehensive income (loss), net of tax, attributable to parent: | (39,799) | 38,323 | 1,138 | 5,069 | 1,419 | ||
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.