GWG Holdings, Inc (GWGH) Financial Statements (2024 and earlier)
Company Profile
Business Address |
325 N. ST. PAUL STREET DALLAS, TX 75201 |
State of Incorp. | |
Fiscal Year End | December 31 |
Industry (SIC) | 6311 - Life Insurance (benchmarking) |
More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
9/30/2021 MRQ | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | |||
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ASSETS | |||||||||
Current Assets | |||||||||
Cash, cash equivalents, and short-term investments | 85,249 | 79,073 | 114,587 | 114,421 | 78,487 | 34,425 | |||
Cash and cash equivalents | 85,249 | 79,073 | 114,587 | 114,421 | 78,487 | 34,425 | |||
Restricted cash and investments | 28,350 | 37,827 | 2,342 | ||||||
Receivables | 67,153 | 184,769 | |||||||
Deferred costs | 2,530 | ||||||||
Intangible current assets | 3,400 | ||||||||
Total current assets: | 85,249 | 149,626 | 299,356 | 142,771 | 116,314 | 39,297 | |||
Noncurrent Assets | |||||||||
Operating lease, right-of-use asset | 1,126 | ✕ | ✕ | ✕ | ✕ | ||||
Property, plant and equipment | 1,500 | ||||||||
Long-term investments and receivables, including: | 8,582 | 232,344 | 360,842 | ||||||
Long-term investments | 8,582 | 1,761 | 360,842 | ||||||
Accounts and financing receivable, after allowance for credit loss | 29,168 | ||||||||
Other undisclosed long-term investments and receivables | 201,415 | ||||||||
Intangible assets, net (including goodwill) | 2,367,750 | 2,358,005 | |||||||
Goodwill | 2,367,750 | 2,358,005 | |||||||
Total noncurrent assets: | 2,377,458 | 2,590,349 | 362,342 | ||||||
Other undisclosed assets | 1,102,250 | 895,231 | 819,169 | 676,085 | 526,929 | 358,868 | |||
TOTAL ASSETS: | 3,564,957 | 3,635,206 | 1,480,867 | 818,856 | 643,242 | 398,166 | |||
LIABILITIES AND EQUITY | |||||||||
Liabilities | |||||||||
Current Liabilities | |||||||||
Accounts payable and accrued liabilities | 9,277 | 6,394 | 2,227 | 1,517 | |||||
Accounts payable | 9,277 | 6,394 | 2,227 | 1,517 | |||||
Debt | 193,730 | 174,390 | 212,238 | 156,065 | 65,011 | ||||
Total current liabilities: | 193,730 | 174,390 | 9,277 | 218,633 | 158,292 | 66,528 | |||
Noncurrent Liabilities | |||||||||
Long-term debt and lease obligation | 19,701 | ||||||||
Long-term debt, excluding current maturities | 19,701 | ||||||||
Liabilities, other than long-term debt | 51,469 | 99,367 | |||||||
Deferred revenue | 41,444 | ✕ | ✕ | ✕ | ✕ | ||||
Deferred income tax liabilities | 51,469 | 57,923 | ✕ | ✕ | ✕ | ✕ | |||
Total noncurrent liabilities: | 51,469 | 99,367 | 19,701 | ||||||
Other undisclosed liabilities | 1,645,851 | 1,490,968 | 1,190,533 | 466,552 | 397,951 | 315,477 | |||
Total liabilities: | 1,891,050 | 1,764,725 | 1,199,809 | 685,184 | 575,944 | 382,005 | |||
Commitments and contingencies | (19,701) | (20,800) | |||||||
Temporary equity, carrying amount | 1,233,093 | 1,269,654 | 19,701 | 20,800 | |||||
Equity | |||||||||
Equity, attributable to parent, including: | 112,372 | 333,979 | 281,058 | 133,672 | 67,298 | 16,160 | |||
Common stock | 33 | 33 | 33 | 6 | 6 | 6 | |||
Treasury stock, value | (67,406) | (24,550) | |||||||
Additional paid in capital | 274,023 | 233,106 | 249,662 | 7,384 | 17,149 | ||||
Accumulated deficit | (251,111) | (76,501) | (184,610) | (39,450) | (18,817) | (21,795) | |||
Warrants and rights outstanding | 432 | ||||||||
Other undisclosed equity, attributable to parent | 156,833 | 201,891 | 215,973 | 173,115 | 78,726 | 20,368 | |||
Equity, attributable to noncontrolling interest | 328,442 | 266,848 | |||||||
Total equity: | 440,814 | 600,827 | 281,058 | 133,672 | 67,298 | 16,160 | |||
TOTAL LIABILITIES AND EQUITY: | 3,564,957 | 3,635,206 | 1,480,867 | 818,856 | 643,242 | 398,166 |
Income Statement (P&L) ($ in thousands)
9/30/2021 TTM | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
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Revenues | 124,371 | 92,276 | (390) | 64,134 | 69,477 | 39,632 | ||
Realized investment gains | 6,162 | |||||||
Other income | 29,073 | 16,956 | 13,714 | 1,465 | 929 | |||
Cost of revenue | (349,281) | (153) | (5,753) | (1,555) | (15,975) | (9,238) | ||
Cost of goods and services sold | (1,453) | (1,555) | ||||||
Provision for loan, lease, and other losses | (153) | (4,300) | ✕ | ✕ | ✕ | |||
Financial services costs | ✕ | ✕ | ✕ | ✕ | (15,975) | (9,238) | ||
Gross profit: | (224,910) | 92,123 | (6,143) | 62,579 | 53,502 | 30,394 | ||
Operating expenses | (171,873) | (119,079) | (86,864) | (68,752) | (50,535) | |||
Other operating expense, net (Other Expenses) | (18,227) | |||||||
Operating loss: | (243,137) | (79,750) | (125,222) | (24,285) | (15,250) | (20,141) | ||
Interest and debt expense | (154,616) | (114,844) | (80,136) | (54,419) | (42,343) | (31,588) | ||
Other undisclosed income from continuing operations before equity method investments, income taxes | 172,843 | 114,997 | 85,889 | 55,974 | 58,318 | 40,826 | ||
Income (loss) from continuing operations before equity method investments, income taxes: | (224,910) | (79,597) | (119,469) | (22,730) | 725 | (10,903) | ||
Income (loss) from equity method investments | (7,319) | (4,077) | 18 | |||||
Income (loss) from continuing operations before income taxes: | (232,229) | (83,674) | (119,451) | (22,730) | 725 | (10,903) | ||
Income tax expense (benefit) | 16,390 | (57,933) | 2,097 | (333) | 3,510 | |||
Income (loss) from continuing operations: | (215,839) | (141,607) | (119,451) | (20,632) | 392 | (7,393) | ||
Income (loss) before gain (loss) on sale of properties: | ✕ | (215,839) | (141,607) | (119,451) | (20,632) | 392 | (7,393) | |
Net income (loss): | (215,839) | (141,607) | (119,451) | (20,632) | 392 | (7,393) | ||
Net income attributable to noncontrolling interest | 61,924 | |||||||
Other undisclosed net income (loss) attributable to parent | (61,924) | 249,716 | ||||||
Net income (loss) attributable to parent: | (215,839) | 108,109 | (119,451) | (20,632) | 392 | (7,393) | ||
Preferred stock dividends and other adjustments | (14,630) | (16,943) | (16,663) | (12,702) | (3,537) | |||
Other undisclosed net income available to common stockholders, basic | 61,924 | 1,386 | ||||||
Net income (loss) available to common stockholders, basic: | (168,545) | 91,166 | (136,114) | (33,335) | (3,145) | (6,007) | ||
Other undisclosed net income available to common stockholders, diluted | 2,020 | |||||||
Net income (loss) available to common stockholders, diluted: | (168,545) | 93,186 | (136,114) | (33,335) | (3,145) | (6,007) |
Comprehensive Income ($ in thousands)
9/30/2021 TTM | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
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Net income (loss): | (215,839) | (141,607) | (119,451) | (20,632) | 392 | (7,393) | ||
Comprehensive income (loss): | (215,839) | (141,607) | (119,451) | (20,632) | 392 | (7,393) | ||
Comprehensive income, net of tax, attributable to noncontrolling interest | 61,924 | |||||||
Comprehensive income (loss), net of tax, attributable to parent: | (153,915) | (141,607) | (119,451) | (20,632) | 392 | (7,393) |
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.