ComSovereign Holding Corp. (COMS) Financial Statements (2024 and earlier)

Company Profile

Business Address 6890 E. SUNRISE DRIVE
TUCSON, AZ 85750
State of Incorp. NV
Fiscal Year End December 31
Industry (SIC) 3669 - Communications Equipment, Not Elsewhere Classified (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
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,8997318122,2826152,015
Cash and cash equivalents1,8997318122,2826152,015
Receivables1,5987872,17018110394
Inventory, net of allowances, customer advances and progress billings10,5444,5384,671308992460
Inventory10,5444,5384,671308992460
Prepaid expense7,202 91790103121
Asset, held-for-sale, not part of disposal group      
Other current assets34215295   
Other undisclosed current assets 1,473    
Total current assets:21,5857,6818,6652,6981,8202,990
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 19068 
Operating lease, right-of-use asset3,7172,7252,200
Property, plant and equipment9,4882,2861,45853156119
Long-term investments and receivables      
Accounts and financing receivable, after allowance for credit loss      
Intangible assets, net (including goodwill), including:53,45148107,6648051,0971,389
Goodwill37,99164,89856,387100100100
Intangible assets, net (excluding goodwill)15,46053,18851,2777069981,290
Other undisclosed intangible assets, net (including goodwill)  (118,038)    
Restricted cash and investments      
Other undisclosed noncurrent assets98118,068    
Total noncurrent assets:66,944123,196111,3228591,2531,508
TOTAL ASSETS:88,529130,877119,9873,5573,0744,498
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:5,99113,2534,986485205294
Interest and dividends payable2882,029306  47
Employee-related liabilities9273,9921,051   
Accounts payable3,7395,5832,246   
Accrued liabilities1,0371,6491,383   
Other undisclosed accounts payable and accrued liabilities    485205247
Deferred revenue27721150
Debt13,63818,3875,8572,0001,000 
Derivative instruments and hedges, liabilities      1,832
Due to related parties 8630461 1,172955
Other undisclosed current liabilities5,3641,8713,688   
Total current liabilities:25,10634,26215,1432,4852,3773,081
Noncurrent Liabilities
Long-term debt and lease obligation15,0442,9241,745   
Long-term debt, excluding current maturities12,273706    
Finance lease, liability  9 
Liabilities, other than long-term debt108143153 3,000 
Deferred revenue108143153
Due to related parties     3,000 
Operating lease, liability2,7712,2091,745
Other undisclosed noncurrent liabilities120     
Total noncurrent liabilities:15,2723,0671,897 3,000 
Total liabilities:40,37837,33017,0402,4855,3773,081
Equity
Equity, attributable to parent, including:48,15193,548102,9471,072(2,304)1,417
Common stock 171513211
Treasury stock, value(50)(50)(50)   
Additional paid in capital266,004158,210130,55339,54127,69221,089
Accumulated other comprehensive income (loss)23 (23)   
Accumulated deficit(217,843)(64,627)(27,545)(38,472)(29,997)(19,673)
Other undisclosed equity, attributable to parent      0
Total equity:48,15193,548102,9471,072(2,304)1,417
TOTAL LIABILITIES AND EQUITY:88,529130,877119,9873,5573,0744,498

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

12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues12,6409,4274,7122,7235621,468
Cost of revenue(6,497)(4,596)(2,991)(2,214)(339)(558)
Cost of goods and services sold(6,497)(4,596)(2,991)(565)  
Gross profit:6,1434,8311,721509223911
Operating expenses(151,674)(32,052)(21,974) (10,070)(9,732)
Other undisclosed operating loss    (8,639)  
Operating loss:(145,531)(27,221)(20,253)(8,131)(9,846)(8,821)
Nonoperating income (expense)(7,518)(1,444)(11,430)(344)(478)288
Investment income, nonoperating     1,832563
Other nonoperating expense (116)(1,369)(147)   
Interest and debt expense(4,602)(11,325)(435)(344)(682)11
Loss from continuing operations before equity method investments, income taxes:(157,651)(39,990)(32,118)(8,820)(11,006)(8,523)
Other undisclosed income from continuing operations before income taxes4,6022435   
Loss from continuing operations before income taxes:(153,049)(39,988)(31,683)(8,820)(11,006)(8,523)
Income tax benefit  2,9064,138   
Loss from continuing operations:(153,049)(37,081)(27,545)(8,820)(11,006)(8,523)
Loss before gain (loss) on sale of properties:(153,049)(37,081)(27,545)(8,820)(11,006)(8,523)
Income from discontinued operations      
Net income (loss):(153,049)(37,081)(27,545)(8,820)(11,006)(8,523)
Other undisclosed net income (loss) attributable to parent   344682(11)
Net loss available to common stockholders, basic:(153,049)(37,081)(27,545)(8,475)(10,324)(8,534)
Other undisclosed net loss available to common stockholders, diluted(168)     
Net loss available to common stockholders, diluted:(153,217)(37,081)(27,545)(8,475)(10,324)(8,534)

Comprehensive Income ($ in thousands)

12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss):(153,049)(37,081)(27,545)(8,820)(11,006)(8,523)
Other comprehensive income (loss) 23(23)23   
Other undisclosed comprehensive income (loss)  47(47)   
Comprehensive income (loss):(153,026)(37,058)(27,569)(8,820)(11,006)(8,523)
Other undisclosed comprehensive loss, net of tax, attributable to parent (168)     
Comprehensive income (loss), net of tax, attributable to parent:(153,194)(37,058)(27,569)(8,820)(11,006)(8,523)

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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