RigNet, Inc. (RNET) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
15115 PARK ROW BOULEVARD, SUITE 300 HOUSTON, TX 77084 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4899 - Communications Services, Not Elsewhere Classified (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)Annual | Quarterly
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Current Assets | ||||||
| Cash, cash equivalents, and short-term investments | 12,941 | 21,711 | 34,598 | |||
| Cash and cash equivalents | 12,941 | 21,711 | 34,598 | |||
| Restricted cash and investments | 42 | 41 | 43 | |||
| Receivables | 67,059 | 67,450 | 49,021 | |||
| Contract with customer, asset | 13,275 | 7,138 | ✕ | |||
| Costs in excess of billings | ✕ | ✕ | ✕ | 2,393 | ||
| Other undisclosed current assets | 6,500 | 6,767 | 5,591 | |||
| Total current assets: | 99,817 | 103,107 | 91,646 | |||
| Noncurrent Assets | ||||||
| Finance lease, right-of-use asset | 6,829 | ✕ | ✕ | |||
| Property, plant and equipment | 60,118 | 63,585 | 60,344 | |||
| Intangible assets, net (including goodwill) | 76,937 | 80,364 | 67,493 | |||
| Goodwill | 46,792 | 46,631 | 37,088 | |||
| Intangible assets, net (excluding goodwill) | 30,145 | 33,733 | 30,405 | |||
| Restricted cash and investments | 1,522 | 1,544 | 1,500 | |||
| Other undisclosed noncurrent assets | 5,757 | 10,325 | 9,111 | |||
| Total noncurrent assets: | 151,163 | 155,818 | 138,448 | |||
| TOTAL ASSETS: | 250,980 | 258,925 | 230,094 | |||
| LIABILITIES AND EQUITY | ||||||
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts payable and accrued liabilities | 47,826 | 39,373 | 29,924 | |||
| Accounts payable | 28,517 | 20,568 | 12,234 | |||
| Accrued liabilities | 16,660 | 16,374 | 16,089 | |||
| Taxes payable | 2,649 | 2,431 | 1,601 | |||
| Debt | 10,793 | 4,942 | 4,941 | |||
| Liability for uncertainty in income taxes | 16,100 | |||||
| Other undisclosed current liabilities | 11,923 | 40,528 | 8,511 | |||
| Total current liabilities: | 70,542 | 100,943 | 43,376 | |||
| Noncurrent Liabilities | ||||||
| Long-term debt and lease obligation, including: | 96,934 | 72,085 | 53,173 | |||
| Long-term debt, excluding current maturities | 96,934 | |||||
| Finance lease, liability | 6,329 | ✕ | ✕ | |||
| Capital lease obligations | ✕ | ✕ | 211 | |||
| Operating lease, liability | 6,329 | ✕ | ✕ | |||
| Other undisclosed long-term debt and lease obligation | (12,658) | 72,085 | 52,962 | |||
| Liabilities, other than long-term debt | 27,626 | 28,943 | 26,079 | |||
| Deferred revenue and credits | ✕ | ✕ | ✕ | 546 | ||
| Deferred revenue | 855 | ✕ | ✕ | |||
| Other liabilities | 26,771 | 28,943 | 25,533 | |||
| Other undisclosed noncurrent liabilities | 9,001 | 970 | 189 | |||
| Total noncurrent liabilities: | 133,561 | 101,998 | 79,441 | |||
| Total liabilities: | 204,103 | 202,941 | 122,817 | |||
| Stockholders' equity | ||||||
| Stockholders' equity attributable to parent | 46,723 | 55,924 | 107,199 | |||
| Common stock | 20 | 19 | 18 | |||
| Treasury stock, value | (2,693) | (1,270) | (116) | |||
| Additional paid in capital | 184,571 | 172,946 | 155,829 | |||
| Accumulated other comprehensive loss | (19,502) | (19,254) | (14,806) | |||
| Accumulated deficit | (115,673) | (96,517) | (33,726) | |||
| Stockholders' equity attributable to noncontrolling interest | 154 | 60 | 78 | |||
| Total stockholders' equity: | 46,877 | 55,984 | 107,277 | |||
| TOTAL LIABILITIES AND EQUITY: | 250,980 | 258,925 | 230,094 | |||
Income Statement (P&L) ($ in thousands) Annual | Quarterly
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|
| Revenues | 242,931 | 238,854 | 204,892 | ||
| Revenue, net | ✕ | ✕ | ✕ | 204,892 | |
| Cost of revenue | (155,366) | (146,755) | (129,845) | ||
| Cost of goods and services sold | (149,753) | ||||
| Gross profit: | 87,565 | 92,099 | 75,047 | ||
| Operating expenses | (89,635) | (153,194) | (85,035) | ||
| Operating loss: | (2,070) | (61,095) | (9,988) | ||
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | (13) | 4 | 133 | ||
| Interest and debt expense | (5,958) | (3,969) | (2,870) | ||
| Loss from continuing operations before income taxes: | (8,041) | (65,060) | (12,725) | ||
| Income tax expense (benefit) | (10,745) | 2,746 | (3,472) | ||
| Net loss: | (18,786) | (62,314) | (16,197) | ||
| Net income (loss) attributable to noncontrolling interest | (370) | (139) | 21 | ||
| Net loss available to common stockholders, diluted: | (19,156) | (62,453) | (16,176) | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|
| Net loss: | (18,786) | (62,314) | (16,197) | ||
| Other undisclosed comprehensive income (loss) | (248) | (4,448) | 3,165 | ||
| Comprehensive loss: | (19,034) | (66,762) | (13,032) | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (370) | (139) | 21 | ||
| Comprehensive loss, net of tax, attributable to parent: | (19,404) | (66,901) | (13,011) | ||
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.