Montrose Environmental Group Inc. (MEG) Financial Statements (2024 and earlier)

Company Profile

Business Address 1 PARK PLAZA, SUITE 1000
IRVINE, CA 92614
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 8742 - Management Consulting Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

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

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:23,24089,828146,25434,386
Cash and cash equivalents23,240 146,25434,386
Other undisclosed cash, cash equivalents, and short-term investments  89,828  
Receivables164,016147,808139,16092,678
Prepaid expense8,0855,2664,6753,510
Deposits current assets1,7641,394843708
Other undisclosed current assets3,8193,6322,9262,986
Total current assets:200,924247,928293,858134,268
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization13,2489,8408,944 
Operating lease, right-of-use asset32,26026,03823,532 
Property, plant and equipment56,82536,04531,52134,399
Intangible assets, net (including goodwill)505,262465,975472,941429,521
Goodwill364,449323,868311,944274,667
Intangible assets, net (excluding goodwill)140,813142,107160,997154,854
Other noncurrent assets8,2676,0882,2984,538
Total noncurrent assets:615,862543,986539,236468,458
TOTAL ASSETS:816,786791,914833,094602,726
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities47,11240,10765,04448,387
Taxes payable 256
Employee-related liabilities25,97121,181
Accounts payable31,05325,35324,16715,481
Accrued liabilities16,05914,75414,90611,469
Deferred revenue8,13218,54927,9076,114
Debt14,19612,03110,9385,583
Business combination, contingent consideration, liability3,5923,80131,45049,902
Other liabilities3,6543,5711,4541,507
Other undisclosed current liabilities49,60133,38310,90250
Total current liabilities:126,287111,442147,695111,543
Noncurrent Liabilities
Long-term debt and lease obligation, including:148,988152,494161,818170,321
Long-term debt, excluding current maturities148,988152,494161,818170,321
Finance lease, liability8,1856,4865,756 
Other undisclosed long-term debt and lease obligation(8,185)(6,486)(22,615) 
Liabilities, other than long-term debt40,12929,6468,4569,903
Deferred income tax liabilities6,0645,7424,0062,815
Other liabilities6,569131002,523
Operating lease, liability25,04819,43716,859 
Business combination, contingent consideration, liability2,4484,4544,3504,565
Other undisclosed noncurrent liabilities27,20232,21745,69620,886
Total noncurrent liabilities:216,319214,357215,970201,110
Total liabilities:342,606325,799363,665312,653
Equity
Equity, attributable to parent321,252313,187316,501137,145
Additional paid in capital531,831492,676464,143259,427
Accumulated other comprehensive income (loss)(223)83671
Accumulated deficit(210,356)(179,497)(147,678)(122,353)
Other undisclosed equity152,928152,928152,928152,928
Total equity:474,180466,115469,429290,073
TOTAL LIABILITIES AND EQUITY:816,786791,914833,094602,726

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

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Revenues624,208544,416546,413328,243
Cost of revenue(383,903)(351,882)(369,028)(215,492)
Gross profit:240,305192,534177,385112,751
Operating expenses(268,641)(223,774)(162,468)(115,912)
Other undisclosed operating income (loss)(84)3,227(24,372)(19,850)
Operating loss:(28,420)(28,013)(9,455)(23,011)
Nonoperating expense(3,419)(1,556)(14,161)(34,087)
Other nonoperating income (expense)4,3743,683(2,546)(20,268)
Interest and debt expense   (4,052)(1,810)
Other undisclosed income from continuing operations before equity method investments, income taxes    1,810
Loss from continuing operations before equity method investments, income taxes:(31,839)(29,569)(27,668)(57,098)
Other undisclosed income from continuing operations before income taxes   4,052 
Loss from continuing operations before income taxes:(31,839)(29,569)(23,616)(57,098)
Income tax expense (benefit)980(2,250)(1,709)(851)
Loss from continuing operations:(30,859)(31,819)(25,325)(57,949)
Loss before gain (loss) on sale of properties:(25,325)(63,611)
Loss from discontinued operations    (5,662)
Other undisclosed net income    5,662
Net loss attributable to parent:(30,859)(31,819)(25,325)(57,949)
Preferred stock dividends and other adjustments(16,400)(16,400)(16,400)(48,912)
Net loss available to common stockholders, diluted:(47,259)(48,219)(41,725)(106,861)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Net loss:(30,859)(31,819)(25,325)(57,949)
Comprehensive loss:(30,859)(31,819)(25,325)(57,949)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(231)(28)(35)111
Comprehensive loss, net of tax, attributable to parent:(31,090)(31,847)(25,360)(57,838)

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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