FTE Networks, Inc. (FTNW) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
237 WEST 35TH STREET NEW YORK, NY 10001 |
| State of Incorp. | NV |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4813 - Telephone Communications, Except Radiotelephone (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 9/30/2015 | |||
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Current Assets | |||||||
| Cash, cash equivalents, and short-term investments | 12,170 | 15,642 | 1,412 | 208 | |||
| Cash and cash equivalents | 12,170 | 15,642 | 1,412 | 208 | |||
| Receivables | 74,048 | 72,276 | 7,020 | 1,215 | |||
| Other current assets | 3,994 | 7,256 | 2,833 | 1,913 | |||
| Other undisclosed current assets | 5,974 | 1,149 | 64 | ||||
| Total current assets: | 96,186 | 96,323 | 11,264 | 3,400 | |||
| Noncurrent Assets | |||||||
| Operating lease, right-of-use asset | ✕ | ✕ | ✕ | ✕ | |||
| Property, plant and equipment | 3,405 | 7,955 | 3,467 | 1,419 | |||
| Intangible assets, net (including goodwill) | 64,699 | 63,368 | |||||
| Goodwill | 45,007 | 35,672 | |||||
| Intangible assets, net (excluding goodwill) | 19,692 | 27,696 | |||||
| Other undisclosed noncurrent assets | 1 | 76 | |||||
| Total noncurrent assets: | 68,104 | 71,324 | 3,467 | 1,495 | |||
| TOTAL ASSETS: | 164,290 | 167,647 | 14,731 | 4,895 | |||
| LIABILITIES AND EQUITY | |||||||
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts payable and accrued liabilities | 87,426 | 45,108 | 2,357 | 1,674 | |||
| Interest and dividends payable | 431 | ||||||
| Employee-related liabilities | 1,731 | ||||||
| Accounts payable | 77,076 | 35,135 | 2,357 | 2,477 | |||
| Accrued liabilities | 10,350 | 9,973 | (2,965) | ||||
| Debt | 7,758 | (8,493) | 7,611 | 1,896 | |||
| Derivative instruments and hedges, liabilities | 8,038 | ||||||
| Estimated litigation liability | 1,841 | ||||||
| Other liabilities | 10,350 | 9,973 | 3,202 | 2,965 | |||
| Billings in excess of cost | ✕ | ✕ | 30,304 | ||||
| Due to related parties | 17 | 8,526 | 100 | 184 | |||
| Other undisclosed current liabilities | 78,098 | 9,008 | 1,385 | 1,203 | |||
| Total current liabilities: | 191,687 | 94,426 | 14,656 | 9,763 | |||
| Noncurrent Liabilities | |||||||
| Long-term debt and lease obligation | 1,268 | 1,955 | 2,362 | 4,571 | |||
| Long-term debt, excluding current maturities | 1,268 | 1,955 | 2,362 | 4,571 | |||
| Finance lease, liability | ✕ | ✕ | ✕ | ✕ | |||
| Liabilities, other than long-term debt | 30,794 | 39,090 | |||||
| Deferred tax liabilities, net | ✕ | 560 | |||||
| Deferred income tax liabilities | 1,641 | ✕ | ✕ | ✕ | |||
| Due to related parties | 29,153 | 38,530 | |||||
| Operating lease, liability | ✕ | ✕ | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | 24,143 | 7,576 | 1,686 | ||||
| Total noncurrent liabilities: | 32,062 | 65,188 | 9,939 | 6,258 | |||
| Total liabilities: | 223,749 | 159,614 | 24,594 | 16,020 | |||
| Temporary equity, carrying amount | 437 | ||||||
| Equity | |||||||
| Equity, attributable to parent, including: | (59,459) | 8,033 | (10,301) | (11,126) | |||
| Common stock | 12 | 6 | 78 | 45 | |||
| Additional paid in capital | 113,881 | 49,381 | 11,500 | 2,523 | |||
| Accumulated deficit | (174,632) | (38,304) | (19,050) | (13,362) | |||
| Warrants and rights outstanding | |||||||
| Stockholders' equity note, subscriptions receivable | (3,675) | 2,829 | ✕ | ||||
| Other undisclosed equity, attributable to parent | 1,280 | 625 | (5,658) | (331) | |||
| Total equity: | (59,459) | 8,033 | (10,301) | (11,126) | |||
| TOTAL LIABILITIES AND EQUITY: | 164,290 | 167,647 | 14,731 | 4,895 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 9/30/2015 | ||
|---|---|---|---|---|---|---|
| Revenues | 384,755 | 243,409 | 12,269 | 14,389 | ||
| Cost of revenue | (331,868) | (206,394) | (8,848) | (11,072) | ||
| Gross profit: | 52,887 | 37,015 | 3,421 | 3,317 | ||
| Operating expenses | (91,180) | (38,641) | (5,822) | (4,923) | ||
| Operating loss: | (38,293) | (1,626) | (2,402) | (1,607) | ||
| Nonoperating expense | (7,213) | (17,843) | (3,833) | (1,948) | ||
| Investment income, nonoperating | 17,177 | |||||
| Other nonoperating expense | (80) | (123) | (422) | (539) | ||
| Interest and debt expense | 35,425 | (2,843) | (2,272) | (1,308) | ||
| Loss from continuing operations before equity method investments, income taxes: | (10,081) | (22,312) | (8,507) | (4,863) | ||
| Other undisclosed loss from continuing operations before income taxes | (35,425) | (172,457) | ||||
| Loss from continuing operations before income taxes: | (45,506) | (194,769) | (8,507) | (4,863) | ||
| Income tax expense (benefit) | (1,086) | 560 | (1,958) | |||
| Loss from continuing operations: | (46,592) | (194,209) | (10,464) | (4,863) | ||
| Loss before gain (loss) on sale of properties: | (46,592) | (194,209) | (10,464) | (4,863) | ||
| Income from discontinued operations | ||||||
| Net loss: | (46,592) | (194,209) | (10,464) | (4,863) | ||
| Other undisclosed net income attributable to parent | 174,180 | 4,230 | 1,308 | |||
| Net loss attributable to parent: | (46,592) | (20,029) | (6,234) | (3,555) | ||
| Preferred stock dividends and other adjustments | (80) | (80) | (80) | (80) | ||
| Other undisclosed net loss available to common stockholders, basic | (0) | |||||
| Net loss available to common stockholders, diluted: | (46,672) | (20,109) | (6,314) | (3,634) | ||
Comprehensive Income ($ in thousands)
| 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 9/30/2015 | ||
|---|---|---|---|---|---|---|
| Net loss: | (46,592) | (194,209) | (10,464) | (4,863) | ||
| Comprehensive loss, net of tax, attributable to parent: | (46,592) | (194,209) | (10,464) | (4,863) | ||
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.