Flotek Industries Inc. (FTK) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
5775 N. SAM HOUSTON PARKWAY W. HOUSTON, TX 77086 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 289 - Miscellaneous Chemical Products (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)Annual | Quarterly
| 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 5,851 | 4,453 | 8,841 | 12,433 | 12,290 | 8,508 | |||
| Cash and cash equivalents | 5,851 | 4,453 | 8,841 | 12,433 | 12,290 | 8,508 | |||
| Restricted cash and investments | 102 | 102 | 101 | 101 | 100 | 100 | |||
| Receivables | (745) | 41,839 | 41,819 | 43,513 | |||||
| Inventory, net of allowances, customer advances and progress billings | 12,838 | 15,885 | 18,397 | 15,904 | 15,720 | 19,189 | |||
| Inventory | 12,838 | 15,885 | 18,397 | 15,904 | 15,720 | 19,189 | |||
| Contract with customer, asset, after allowance for credit loss | 5,836 | 7,816 | 7,716 | 7,066 | 7,113 | 7,196 | |||
| Other current assets | 3,564 | 4,617 | 4,051 | 4,516 | 4,045 | 4,309 | |||
| Other undisclosed current assets | 49,001 | 40,333 | 39,888 | 535 | |||||
| Total current assets: | 76,447 | 73,206 | 78,994 | 81,859 | 81,087 | 83,350 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 77 | 81 | 84 | 88 | 92 | 95 | |||
| Operating lease, right-of-use asset | 5,030 | 5,131 | 4,279 | 4,923 | 5,900 | 1,715 | |||
| Contract with customer, asset, after allowance for credit loss | 68,820 | 68,207 | 69,583 | 71,372 | 72,576 | 73,878 | |||
| Deferred income tax assets | 300 | 355 | 404 | 410 | 404 | 278 | |||
| Other noncurrent assets | 1,787 | 773 | 17 | 17 | 17 | 17 | |||
| Other undisclosed noncurrent assets | 5,052 | 4,763 | 4,669 | 4,719 | 4,734 | 4,686 | |||
| Total noncurrent assets: | 81,066 | 79,310 | 79,036 | 81,529 | 83,723 | 80,669 | |||
| TOTAL ASSETS: | 157,513 | 152,516 | 158,030 | 163,388 | 164,810 | 164,019 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 37,595 | 38,866 | 50,127 | 51,799 | 42,359 | 43,500 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 118 | ||
| Taxes payable | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 1,463 | ||
| Employee-related liabilities | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 2,866 | ||
| Accounts payable | 31,705 | 33,436 | 44,949 | 41,929 | 33,375 | 29,653 | |||
| Accrued liabilities | 5,890 | 5,430 | 5,178 | 9,870 | 8,984 | 9,400 | |||
| Debt | 7,693 | 3,580 | 216 | 44,015 | 105,457 | 93,973 | |||
| Other undisclosed current liabilities | 2,494 | 2,790 | 2,914 | 3,061 | 3,555 | (3,572) | |||
| Total current liabilities: | 47,782 | 45,236 | 53,257 | 98,875 | 151,371 | 133,901 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 60 | 104 | 152 | 207 | 2,755 | 9,546 | |||
| Long-term debt, excluding current maturities | 60 | 104 | 149 | 194 | 2,736 | 2,935 | |||
| Finance lease, liability | 3 | 13 | 19 | 29 | |||||
| Liabilities, other than long-term debt | 7,711 | 7,572 | 6,619 | 7,168 | 8,088 | 74 | |||
| Deferred revenue | 35 | 35 | 35 | 35 | 44 | 74 | |||
| Operating lease, liability | 7,676 | 7,537 | 6,584 | 7,133 | 8,044 | 6,582 | |||
| Total noncurrent liabilities: | 7,771 | 7,676 | 6,771 | 7,375 | 10,843 | 9,620 | |||
| Total liabilities: | 55,553 | 52,912 | 60,028 | 106,250 | 162,214 | 143,521 | |||
| Equity | |||||||||
| Equity, attributable to parent | 101,960 | 99,604 | 98,002 | 57,138 | 2,596 | 20,498 | |||
| Common stock | 3 | 3 | 15 | 9 | 8 | 8 | |||
| Treasury stock, value | (34,504) | (34,482) | (34,480) | (34,451) | (34,251) | (34,268) | |||
| Additional paid in capital | 463,140 | 462,799 | 462,517 | 421,596 | 388,177 | 386,958 | |||
| Accumulated other comprehensive income | 127 | 194 | 147 | 160 | 181 | 292 | |||
| Accumulated deficit | (326,806) | (328,910) | (330,197) | (330,176) | (351,519) | (332,492) | |||
| Total equity: | 101,960 | 99,604 | 98,002 | 57,138 | 2,596 | 20,498 | |||
| TOTAL LIABILITIES AND EQUITY: | 157,513 | 152,516 | 158,030 | 163,388 | 164,810 | 164,019 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 42,188 | 47,268 | 50,594 | 48,007 | 48,218 | 45,623 | ||
| Revenue from related parties | ✕ | ✕ | ✕ | ✕ | 36,355 | 32,286 | 30,417 | |
| Cost of revenue (Cost of Goods and Services Sold) | (32,758) | (38,221) | (46,690) | (46,127) | (50,292) | (47,465) | ||
| Gross profit: | 9,430 | 9,047 | 3,904 | 1,880 | (2,074) | (1,842) | ||
| Operating expenses | (6,807) | (7,247) | (6,932) | (9,288) | (5,148) | (10,187) | ||
| Other undisclosed operating income (loss) | (204) | (181) | 3,700 | 25,919 | (9,675) | (4,250) | ||
| Operating income (loss): | 2,419 | 1,619 | 672 | 18,511 | (16,897) | (16,279) | ||
| Nonoperating income (expense) | (264) | (251) | (686) | 2,841 | (2,253) | (2,508) | ||
| Other nonoperating income (expense) | 56 | (91) | 19 | (9) | 212 | (187) | ||
| Interest and debt expense | (160) | (705) | 4,522 | (2,465) | (2,321) | |||
| Income (loss) from continuing operations before equity method investments, income taxes: | 2,155 | 1,208 | (719) | 25,874 | (21,615) | (21,108) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 160 | 705 | (4,522) | 2,465 | 2,321 | |||
| Income (loss) from continuing operations before income taxes: | 2,155 | 1,368 | (14) | 21,352 | (19,150) | (18,787) | ||
| Income tax expense (benefit) | (51) | (81) | (7) | (9) | 123 | (7) | ||
| Income (loss) from continuing operations: | 2,104 | 1,287 | (21) | 21,343 | (19,027) | (18,794) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | (18,794) | |
| Net income (loss) available to common stockholders, basic: | 2,104 | 1,287 | (21) | 21,343 | (19,027) | (18,794) | ||
| Dilutive securities, effect on basic earnings per share | 26,067 | 59,633 | ||||||
| Other undisclosed net income (loss) available to common stockholders, diluted | (29,229) | (84,157) | 30,063 | 25,087 | ||||
| Net income (loss) available to common stockholders, diluted: | 2,104 | 1,287 | (3,183) | (3,181) | 11,036 | 6,293 | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 2,104 | 1,287 | (21) | 21,343 | (19,027) | (18,794) | ||
| Comprehensive income (loss): | 2,104 | 1,287 | (21) | 21,343 | (19,027) | (18,794) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (67) | 47 | (13) | (21) | (111) | 116 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 2,037 | 1,334 | (34) | 21,322 | (19,138) | (18,678) | ||
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.