Blue Star Foods Corp. (BSFC) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
3330 CLEMATIS STREET WEST PALM BEACH, FL 33401 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 2092 - Prepared Fresh or Frozen Fish and Seafoods (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2024 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 investments | 24 | 9 | 1,156 | 56 | 154 | 13 | |||
| Cash and cash equivalents | 24 | 9 | 1,156 | 56 | 154 | 13 | |||
| Restricted cash and investments | 282 | 42 | 334 | ||||||
| Receivables | 534 | 1,032 | 2,654 | 2,382 | 3,357 | 4,589 | |||
| Inventory, net of allowances, customer advances and progress billings | 2,609 | 4,808 | 2,119 | 1,833 | 7,984 | 8,127 | |||
| Inventory | 2,609 | 4,808 | 2,119 | 1,833 | 7,984 | 8,127 | |||
| Other current assets | 833 | 672 | 3,703 | 177 | 243 | 91 | |||
| Other undisclosed current assets | 96 | ||||||||
| Total current assets: | 4,096 | 6,521 | 9,632 | 4,730 | 11,780 | 13,154 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 125 | 198 | 71 | 99 | 1,207 | ✕ | |||
| Property, plant and equipment | 304 | 120 | 1,904 | 20 | 62 | 109 | |||
| Long-term investments and receivables | 436 | 456 | 456 | ||||||
| Due from related parties | ✕ | ✕ | 436 | 456 | 456 | ||||
| Accounts and financing receivable, after allowance for credit loss | |||||||||
| Intangible assets, net (including goodwill) | 3,758 | 2,409 | 2,572 | ||||||
| Goodwill | 445 | 445 | |||||||
| Intangible assets, net (excluding goodwill) | 3,313 | 1,964 | 2,572 | ||||||
| Other noncurrent assets | 104 | 125 | 108 | 125 | 218 | ||||
| Other receivable, after allowance for credit loss | ✕ | ✕ | ✕ | ✕ | ✕ | ||||
| Other undisclosed noncurrent assets | 1,838 | 1,300 | |||||||
| Total noncurrent assets: | 2,267 | 2,157 | 6,314 | 3,092 | 3,966 | 327 | |||
| TOTAL ASSETS: | 6,362 | 8,678 | 15,945 | 7,822 | 15,746 | 13,481 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 661 | 2,401 | 1,794 | 1,607 | 3,528 | 3,156 | |||
| Accounts payable | 1,607 | 3,528 | 3,156 | ||||||
| Other undisclosed accounts payable and accrued liabilities | 661 | 2,401 | 1,794 | ||||||
| Deferred revenue | 48 | ✕ | |||||||
| Debt | 157 | 3,440 | 2,368 | 3,106 | 9,965 | 31 | |||
| Derivative instruments and hedges, liabilities | 1,049 | ||||||||
| Customer refund liability | 190 | ||||||||
| Other liabilities | 791 | 791 | 1,055 | 1,347 | |||||
| Due to related parties | ✕ | ✕ | 973 | 100 | |||||
| Other undisclosed current liabilities | 301 | 2,903 | 1,575 | 224 | 973 | 11,114 | |||
| Total current liabilities: | 3,197 | 9,535 | 6,792 | 7,257 | 14,566 | 14,301 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation: | 40 | 70 | 1,089 | ||||||
| Liabilities, other than long-term debt | 90 | 390 | 175 | 515 | 610 | ||||
| Due to related parties | ✕ | ✕ | 250 | 175 | 515 | 610 | |||
| Operating lease, liability | 90 | 140 | 40 | 70 | 1,089 | ✕ | |||
| Other undisclosed noncurrent liabilities | 481 | 31 | |||||||
| Total noncurrent liabilities: | 571 | 390 | 246 | 585 | 1,699 | ||||
| Total liabilities: | 3,768 | 9,924 | 7,038 | 7,842 | 16,266 | 14,301 | |||
| Equity | |||||||||
| Equity, attributable to parent | 2,595 | (1,246) | 8,907 | (20) | (162) | (447) | |||
| Common stock | 2 | 3 | 2 | 2 | 2 | 2 | |||
| Treasury stock, value | (76) | ||||||||
| Additional paid in capital | 36,660 | 28,327 | 25,103 | 13,489 | 8,789 | 3,405 | |||
| Accumulated other comprehensive loss | (180) | (236) | (54) | ||||||
| Accumulated deficit | (33,811) | (29,339) | (16,144) | (13,511) | (8,952) | (3,853) | |||
| Equity, attributable to noncontrolling interest | (358) | (373) | |||||||
| Total equity: | 2,595 | (1,246) | 8,907 | (20) | (520) | (820) | |||
| TOTAL LIABILITIES AND EQUITY: | 6,362 | 8,678 | 15,945 | 7,822 | 15,746 | 13,481 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 6,125 | 12,767 | 9,973 | 14,111 | 23,829 | 32,166 | ||
| Cost of revenue | (5,966) | (13,419) | (7,980) | (12,624) | (20,610) | (27,228) | ||
| Gross profit: | 158 | (652) | 1,993 | 1,488 | 3,219 | 4,938 | ||
| Operating expenses | (4,386) | (10,378) | (4,392) | (3,023) | (3,168) | (2,709) | ||
| Other undisclosed operating income (loss) | (5) | (584) | (385) | (268) | (4,004) | (3,497) | ||
| Operating loss: | (4,232) | (11,614) | (2,784) | (1,804) | (3,953) | (1,268) | ||
| Nonoperating income | 13 | 154 | 499 | 892 | ||||
| Other nonoperating income | 13 | 154 | 499 | 892 | ||||
| Interest and debt expense | (1,772) | (1,678) | (321) | (870) | (1,069) | (1,009) | ||
| Loss from continuing operations before income taxes: | (5,992) | (13,138) | (2,605) | (1,782) | (5,022) | (2,277) | ||
| Income tax expense | (1) | |||||||
| Loss from continuing operations: | (5,992) | (13,138) | (2,605) | (1,783) | (5,022) | (2,277) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (2,605) | (1,783) | (5,022) | (2,277) | |
| Other undisclosed net loss | (2,654) | |||||||
| Net loss: | (5,992) | (13,138) | (2,605) | (4,437) | (5,022) | (2,277) | ||
| Other undisclosed net income (loss) attributable to parent | 1,520 | (57) | (8) | 35 | 17 | |||
| Net loss attributable to parent: | (4,472) | (13,195) | (2,605) | (4,445) | (4,986) | (2,260) | ||
| Preferred stock dividends and other adjustments | (28) | (113) | ||||||
| Other undisclosed net loss available to common stockholders, basic | (113) | (16) | ||||||
| Net loss available to common stockholders, basic: | (4,472) | (13,195) | (2,634) | (4,558) | (5,099) | (2,277) | ||
| Dilutive securities, effect on basic earnings per share | 12,756 | |||||||
| Other undisclosed net income available to common stockholders, diluted | ||||||||
| Net income (loss) available to common stockholders, diluted: | 8,284 | (13,195) | (2,634) | (4,558) | (5,099) | (2,277) | ||
Comprehensive Income ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (5,992) | (13,138) | (2,605) | (4,437) | (5,022) | (2,277) | ||
| Other comprehensive loss | (182) | (54) | (4,445) | |||||
| Comprehensive loss: | (5,992) | (13,319) | (2,660) | (8,882) | (5,022) | (2,277) | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (55) | (15) | 55 | |||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 1,576 | (57) | 50 | (39) | ||||
| Comprehensive loss, net of tax, attributable to parent: | (4,416) | (13,377) | (2,660) | (8,937) | (4,986) | (2,260) | ||
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.