Nova Lifestyle, Inc (NVFY) Financial Statements (2024 and earlier)

Company Profile

Business Address 6565 E. WASHINGTON BLVD.
COMMERCE, CA 90040
State of Incorp. NV
Fiscal Year End December 31
Industry (SIC) 251 - Household Furniture (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

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

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,3746,2768,7457,4238905,723
Cash and cash equivalents1,3746,2768,7457,4238905,723
Receivables3684021,13641567,46754,041
Inventory, net of allowances, customer advances and progress billings4,93317,65632,81529,7256,3716,375
Inventory4,93317,65632,81529,7256,3716,375
Prepaid expense1,505     
Advances on inventory purchases2170738227,74510,6258,581
Disposal group, including discontinued operation    3,042  
Other undisclosed current assets  52721814996198
Total current assets:8,20025,56943,29568,49985,45074,917
Noncurrent Assets
Operating lease, right-of-use asset2,6613,1592,3202,658
Property, plant and equipment369511454137147157
Intangible assets, net (including goodwill)232219(31)(31)4,0154,421
Goodwill219219219219219219
Intangible assets, net (excluding goodwill)14 (250)(250)3,7964,203
Deferred income tax assets   118 
Deferred tax assets, net436319
Other undisclosed noncurrent assets71733242934343
Total noncurrent assets:3,3333,9613,1843,0574,6414,941
TOTAL ASSETS:11,53329,53046,47971,55690,09179,858
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:414327327302809848
Employee-related liabilities611354623606
Accrued liabilities36024720119890180
Other undisclosed accounts payable and accrued liabilities547313509662
Debt     6,248 
Disposal group, including discontinued operation    215  
Customer advances and deposits20
Other undisclosed current liabilities1,2291,4881,6989474,7761,813
Total current liabilities:1,6431,8142,0251,46511,8332,680
Noncurrent Liabilities
Long-term debt and lease obligation  2,5781,7462,211 4,202
Long-term debt, excluding current maturities      4,202
Liabilities, other than long-term debt3,1291,5431,6291,8333,3524,528
Accounts payable and accrued liabilities1,1581,5431,6291,8333,3524,528
Operating lease, liability1,9712,5781,7462,211
Other undisclosed noncurrent liabilities150150150   
Total noncurrent liabilities:3,2794,2713,5254,0443,3528,730
Total liabilities:4,9226,0855,5505,50915,18511,410
Equity
Equity, attributable to parent, including:6,61223,44440,92866,04774,90668,448
Common stock77662928
Treasury stock, value   (616)(616)  
Additional paid in capital43,23442,66040,38340,22139,84138,682
Accumulated other comprehensive income77382798   
Retained earnings (accumulated deficit)(36,707)(19,605)35126,43035,03029,731
Other undisclosed equity, attributable to parent   6666
Total equity:6,61223,44440,92866,04774,90668,448
TOTAL LIABILITIES AND EQUITY:11,53329,53046,47971,55690,09179,858

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues12,74512,81311,35021,98388,645106,494
Revenue, net106,494
Cost of revenue(20,526)(23,131)(31,243)(20,690)(72,693)(86,073)
Cost of goods and services sold(12,905)(15,961)(24,006)(3,606)  
Gross profit:(7,782)(10,317)(19,892)1,29315,95220,421
Operating expenses(8,441)(9,478)(6,412)(7,090)(11,004)(13,617)
Operating income (loss):(16,222)(19,796)(26,305)(5,796)4,9486,804
Nonoperating income (expense)(851)(3)(96)(89)(308)1
Gain (loss), foreign currency transaction, before tax(639)96(298)0  
Other nonoperating income (expense) 11635438(308)(279)
Interest and debt expense   316(153)(170)(174)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes   (316)153170(106)
Income (loss) from continuing operations before income taxes:(17,074)(19,799)(26,401)(5,886)4,6406,524
Income tax expense (benefit)(2)(164) (251)660(2,760)
Other undisclosed loss from continuing operations      
Income (loss) from continuing operations:(17,076)(19,962)(26,401)(6,137)5,3003,765
Income (loss) before gain (loss) on sale of properties:(19,962)(26,074)(8,601)5,3003,765
Income (loss) from discontinued operations (26) 327(2,464)  
Other undisclosed net loss      
Net income (loss):(17,102)(19,962)(26,074)(8,601)5,3003,765
Other undisclosed net loss attributable to parent   (4)   
Net income (loss) available to common stockholders, diluted:(17,102)(19,962)(26,078)(8,601)5,3003,765

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(17,102)(19,962)(26,074)(8,601)5,3003,765
Comprehensive income (loss):(17,102)(19,962)(26,074)(8,601)5,3003,765
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(305)(416)794   
Comprehensive income (loss), net of tax, attributable to parent:(17,406)(20,379)(25,280)(8,601)5,3003,765

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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