Ion Geophysical Corporation (IO) Financial Statements (2025 and earlier)

Company Profile

Business Address 2105 CITYWEST BLVD
HOUSTON, TX 770422855
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 1382 - Oil and Gas Field Exploration Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments26,73134,228 51,05662,54042,663
Cash and cash equivalent26,73134,228 51,05662,54042,663
Restricted cash and investments    2,32675 
Receivables10,5318,457    
Inventory, net of allowances, customer advances and progress billings10,78311,031 11,87311,86212,820
Inventory10,78311,031 11,87311,86212,820
Contract with customer, asset, after allowance for credit loss7,1274,085 9,62912,9378,356
Other undisclosed current assets7,2437,387 11,82314,96456,830
Total current assets:62,41565,188 86,707102,378120,669
Noncurrent Assets
Operating lease, right-of-use asset31,59433,330 37,73040,46742,166
Property, plant and equipment    11,22711,92012,706
Intangible assets, net (including goodwill)19,89819,773 18,68418,02918,298
Goodwill19,89819,773 18,68418,02918,298
Deferred income tax assets  7,743 8,0927,9877,905
Other noncurrent assets2,0794,250 2,1363,5133,299
Other undisclosed noncurrent assets63,27659,363 53,28951,93554,344
Total noncurrent assets:116,847124,459 131,158133,851138,718
TOTAL ASSETS:179,262189,647 217,865236,229259,387
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities45,12245,979 64,30462,86072,905
Accounts payable24,97128,242 35,10737,25443,827
Accrued liabilities20,15117,737 29,19725,60629,078
Deferred revenue1,8404,454 2,1564,0584,882
Debt26,97629,233 23,52723,68528,646
Other undisclosed current liabilities28,70129,085 27,26129,67131,297
Total current liabilities:102,639108,751 117,248120,274137,730
Noncurrent Liabilities
Long-term debt and lease obligation, including:141,150112,737 119,349119,234119,296
Long-term debt, excluding current maturities106,861     
Other undisclosed long-term debt and lease obligation  76,419 78,96978,82578,765
Liabilities, other than long-term debt 202212 412422433
Other liabilities 202212 412422433
Operating lease, liability34,28936,318 40,38040,40940,531
Other undisclosed noncurrent liabilities 36,318 40,38040,40940,531
Total noncurrent liabilities:141,352149,267 160,141160,065160,260
Total liabilities:243,991258,018 277,389280,339297,990
Equity
Equity, attributable to parent(66,055)(69,448) (61,059)(45,718)(40,257)
Common stock285173 144142142
Additional paid in capital995,323968,633 958,189957,746957,254
Accumulated other comprehensive loss(19,398)(19,575) (21,012)(21,833)(21,099)
Accumulated deficit(1,042,265)(1,018,679) (998,380)(981,773)(976,554)
Equity, attributable to noncontrolling interest1,3261,077 1,5351,6081,654
Total equity:(64,729)(68,371) (59,524)(44,110)(38,603)
TOTAL LIABILITIES AND EQUITY:179,262189,647 217,865236,229259,387

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

9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
Revenues19,71414,036(95,379)16,23422,73156,414
Cost of revenue  (396) (14,945)(18,147)(26,903)
Cost of product and service sold    (14,945)(18,147)(26,903)
Provision for loan, lease, and other losses  (396)    
Other undisclosed gross profit(16,076)(12,781)   (1,167)
Gross profit:3,638859 1,2894,58428,344
Operating expenses(11,019)(11,093) (12,453)(10,056)(22,018)
Operating income (loss):(7,381)(10,234) (11,164)(5,472)6,326
Nonoperating income (expense)(4,070)(607) (525)6,771429
Income (loss) from continuing operations before equity method investments, income taxes:(11,451)(10,841) (11,689)1,2996,755
Other undisclosed loss from continuing operations before income taxes(3,299)(3,262) (3,669)(3,414)(3,221)
Income (loss) from continuing operations before income taxes:(14,750)(14,103) (15,358)(2,115)3,534
Income tax expense (benefit)(8,776)6,849 (1,056)(3,052)(5,874)
Loss from continuing operations:(23,526)(7,254) (16,414)(5,167)(2,340)
Loss before gain (loss) on sale of properties:(23,526)(7,254)(16,414)(5,167)(2,340)
Net loss:(23,526)(7,254) (16,414)(5,167)(2,340)
Net income (loss) attributable to noncontrolling interest(60)91 (193)(52)77
Net loss available to common stockholders, diluted:(23,586)(7,163) (16,607)(5,219)(2,263)

Comprehensive Income ($ in thousands)

9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
Net loss:(23,526)(7,254) (16,414)(5,167)(2,340)
Other comprehensive income (loss)177338   (1,781)
Other undisclosed comprehensive income (loss)    772(734) 
Comprehensive loss:(23,349)(6,916) (15,642)(5,901)(4,121)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(249)228 (144)(52)77
Comprehensive loss, net of tax, attributable to parent:(23,598)(6,688) (15,786)(5,953)(4,044)

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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