Avenir Wellness Solutions, Inc. (AVRW) Financial Statements (2024 and earlier)

Company Profile

Business Address 5805 SEPULVEDA BLVD., SUITE 801
SHERMAN OAKS, CA 91411
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 2834 - Pharmaceutical Preparations (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

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

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments492,943161,7254,096501
Cash and cash equivalents492,943161,7254,096501
Receivables1,4182,232357224142103
Inventory, net of allowances, customer advances and progress billings19914586444915638
Inventory19914586444915638
Prepaid expense3317631 48946
Deferred costs   (4,701) 615 
Other current assets6929132   
Other undisclosed current assets1884035,0821,4521,131 
Total current assets:1,9565,9281,7813,8506,1881,588
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization   405260
Operating lease, right-of-use asset5016025734363
Property, plant and equipment441,8412,074641300
Intangible assets, net (including goodwill), including:707128,53015,57910,9861,206
Goodwill   13,86813,8689,178 
Intangible assets, net (excluding goodwill)22724414,6621,7111,8081,206
Other undisclosed intangible assets, net (including goodwill) (157)(173)    
Other undisclosed noncurrent assets5276918,12524,46114,522302
Total noncurrent assets:65192638,79342,50926,2721,808
TOTAL ASSETS:2,6076,85440,57446,35932,4603,396
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3,7942,6506,6013,4341,4831,283
Taxes payable 311  
Employee-related liabilities 308  
Accounts payable2,4521,0652,8482,1351,260774
Accrued liabilities1,3421,5853,753680223509
Deferred revenue416    
Debt1391612,89090560950
Deferred compensation liability 1,317     
Customer refund liability566     
Business combination, contingent consideration, liability  860    
Due to related parties 2,0111,040  
Other undisclosed current liabilities6,26110,24212,7599,08810,2936,318
Total current liabilities:12,49313,91324,26114,46711,8368,552
Noncurrent Liabilities
Long-term debt and lease obligation   2017,01050 
Long-term debt, excluding current maturities    7,010  
Finance lease, liability   27 50
Liabilities, other than long-term debt  46    
Operating lease, liability  46174  
Other undisclosed noncurrent liabilities   (174)3,6037,067 
Total noncurrent liabilities:  4620110,6137,117 
Total liabilities:12,49313,95924,46225,08018,9538,552
Equity
Equity, attributable to parent, including:(9,886)(7,105)16,11221,27913,507(5,172)
Common stock787169603827
Additional paid in capital113,435112,471110,146101,80763,03523,425
Accumulated deficit(123,399)(119,955)(94,446)(81,253)(50,632)(29,269)
Other undisclosed equity, attributable to parent  3083436651,066646
Equity, attributable to noncontrolling interest      16
Total equity:(9,886)(7,105)16,11221,27913,507(5,155)
TOTAL LIABILITIES AND EQUITY:2,6076,85440,57446,35932,4603,396

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

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues4,3474,8966,5552,051623584
Cost of revenue(1,238)(1,557)(2,173)(1,076)(231)(280)
Cost of goods and services sold(1,238)(1,557)(2,173)  (280)
Deferred policy acquisition costs, amortization expense     (427) 
Other undisclosed gross profit      
Gross profit:3,1093,3394,382975392304
Operating expenses(8,615)(21,609)(19,474)(19,933)(14,084)(7,862)
Operating loss:(5,506)(18,270)(15,092)(18,958)(13,692)(7,558)
Nonoperating income (expense)2,065(228)1,899(11,413)(7,940)(2,873)
Other nonoperating income (expense)2,065(228)1,899(11,663)(7,681)(2,873)
Interest and debt expense(44)(44)(544)(65)4,111(3,037)
Loss from continuing operations before equity method investments, income taxes:(3,485)(18,542)(13,737)(30,436)(17,521)(13,468)
Income from equity method investments    22  
Other undisclosed income (loss) from continuing operations before income taxes4444544(207)(3,852)3,037
Loss from continuing operations before income taxes:(3,441)(18,498)(13,193)(30,621)(21,373)(10,431)
Income tax expense (benefit) 3(42)    
Other undisclosed income (loss) from continuing operations    (110) 
Loss from continuing operations:(3,438)(18,540)(13,193)(30,621)(21,483)(10,431)
Loss before gain (loss) on sale of properties:(13,193)(30,621)(21,483)(10,431)
Loss from discontinued operations (6,969)    
Other undisclosed net income (loss)    120 
Net loss:(3,438)(25,509)(13,193)(30,621)(21,363)(10,431)
Net income attributable to noncontrolling interest     21,37330
Other undisclosed net income (loss) attributable to parent(6)   (21,373)(30)
Net loss attributable to parent:(3,444)(25,509)(13,193)(30,621)(21,363)(10,431)
Other undisclosed net income available to common stockholders, basic      30
Net loss available to common stockholders, diluted:(3,444)(25,509)(13,193)(30,621)(21,363)(10,400)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net loss:(3,438)(25,509)(13,193)(30,621)(21,363)(10,431)
Comprehensive loss:(3,438)(25,509)(13,193)(30,621)(21,363)(10,431)
Comprehensive income, net of tax, attributable to noncontrolling interest     21,37330
Comprehensive income (loss), net of tax, attributable to parent:(3,438)(25,509)(13,193)(30,621)10(10,400)

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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