RigNet, Inc. (RNET) Financial Statements (2025 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)
12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | |||
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ASSETS | |||||||||
Current Assets | |||||||||
Cash, cash equivalents, and short-term investments | 12,941 | 21,711 | 34,598 | 57,152 | 60,468 | 66,576 | |||
Cash and cash equivalents | 12,941 | 21,711 | 34,598 | 57,152 | 60,468 | 66,576 | |||
Restricted cash and investments | 42 | 41 | 43 | 139 | 543 | 1,200 | |||
Receivables | 67,059 | 67,450 | 49,021 | 48,672 | 62,105 | 74,625 | |||
Contract with customer, asset, after allowance for credit loss | 13,275 | 7,138 | ✕ | ✕ | ✕ | ✕ | |||
Costs in excess of billings | ✕ | ✕ | ✕ | 2,393 | 2,382 | ||||
Other undisclosed current assets | 6,500 | 6,767 | 5,591 | 10,379 | 13,899 | 21,253 | |||
Total current assets: | 99,817 | 103,107 | 91,646 | 118,724 | 137,015 | 163,654 | |||
Noncurrent Assets | |||||||||
Finance lease, right-of-use asset, after accumulated amortization | 6,829 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
Property, plant and equipment | 60,118 | 63,585 | 60,344 | 59,757 | 72,547 | 76,195 | |||
Intangible assets, net (including goodwill) | 76,937 | 80,364 | 67,493 | 38,026 | 37,032 | 51,179 | |||
Goodwill | 46,792 | 46,631 | 37,088 | 21,998 | 18,058 | 30,128 | |||
Intangible assets, net (excluding goodwill) | 30,145 | 33,733 | 30,405 | 16,028 | 18,974 | 21,051 | |||
Restricted cash and investments | 1,522 | 1,544 | 1,500 | 1,514 | 62 | ||||
Other noncurrent assets | 127,374 | ||||||||
Other undisclosed noncurrent assets | 5,757 | 10,325 | 9,111 | 12,951 | 11,522 | (118,627) | |||
Total noncurrent assets: | 151,163 | 155,818 | 138,448 | 112,248 | 121,101 | 136,183 | |||
TOTAL ASSETS: | 250,980 | 258,925 | 230,094 | 230,972 | 258,116 | 299,837 | |||
LIABILITIES AND EQUITY | |||||||||
Liabilities | |||||||||
Current Liabilities | |||||||||
Accounts payable and accrued liabilities | 47,826 | 39,373 | 29,924 | 21,892 | 29,886 | 41,768 | |||
Taxes payable | 2,649 | 2,431 | 1,601 | 3,091 | 4,978 | ||||
Accounts payable | 28,517 | 20,568 | 12,234 | 9,057 | 6,849 | 13,560 | |||
Accrued liabilities | 16,660 | 16,374 | 16,089 | 12,835 | 19,946 | 23,230 | |||
Deferred revenue | ✕ | ✕ | ✕ | ✕ | ✕ | ||||
Debt | 10,793 | 4,942 | 4,941 | 8,478 | 8,421 | 8,405 | |||
Liability for uncertainty in income taxes | 16,100 | 22,800 | |||||||
Deferred revenue and credits | ✕ | ✕ | ✕ | 3,625 | 4,670 | 4,780 | |||
Other undisclosed current liabilities | 11,923 | 40,528 | 8,511 | 877 | (22,800) | ||||
Total current liabilities: | 70,542 | 100,943 | 43,376 | 34,872 | 42,977 | 54,953 | |||
Noncurrent Liabilities | |||||||||
Long-term debt and lease obligation, including: | 96,934 | 72,085 | 53,173 | 52,990 | 69,238 | 77,706 | |||
Long-term debt, excluding current maturities | 96,934 | 52,990 | 69,238 | 77,706 | |||||
Capital lease obligations | ✕ | ✕ | 211 | ||||||
Finance 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 | 30,532 | 22,588 | 25,087 | |||
Deferred revenue and credits | ✕ | ✕ | ✕ | 546 | 254 | 359 | 516 | ||
Deferred revenue | 855 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
Deferred tax liabilities, net | ✕ | ✕ | 256 | 220 | 228 | ||||
Deferred income tax liabilities | ✕ | ✕ | ✕ | ✕ | ✕ | ||||
Other liabilities | 26,771 | 28,943 | 25,533 | 30,022 | 22,009 | 24,343 | |||
Operating lease, liability | 6,329 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
Other undisclosed noncurrent liabilities | 9,001 | 970 | 189 | ||||||
Total noncurrent liabilities: | 133,561 | 101,998 | 79,441 | 83,522 | 91,826 | 102,793 | |||
Total liabilities: | 204,103 | 202,941 | 122,817 | 118,394 | 134,803 | 157,746 | |||
Equity | |||||||||
Equity, attributable to parent | 46,723 | 55,924 | 107,199 | 112,403 | 123,151 | 141,929 | |||
Common stock | 20 | 19 | 18 | 18 | 18 | 18 | |||
Treasury stock, value | (2,693) | (1,270) | (116) | ||||||
Additional paid in capital | 184,571 | 172,946 | 155,829 | 147,906 | 143,012 | 137,662 | |||
Accumulated other comprehensive loss | (19,502) | (19,254) | (14,806) | (17,971) | (13,836) | (6,682) | |||
Retained earnings (accumulated deficit) | (115,673) | (96,517) | (33,726) | (17,550) | (6,043) | 10,931 | |||
Equity, attributable to noncontrolling interest | 154 | 60 | 78 | 175 | 162 | 162 | |||
Total equity: | 46,877 | 55,984 | 107,277 | 112,578 | 123,313 | 142,091 | |||
TOTAL LIABILITIES AND EQUITY: | 250,980 | 258,925 | 230,094 | 230,972 | 258,116 | 299,837 |
Income Statement (P&L) ($ in thousands)
12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
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Revenues | 242,931 | 238,854 | 204,892 | 220,623 | 271,260 | 330,174 | ||
Revenue, net | ✕ | ✕ | ✕ | 204,892 | 220,623 | 271,260 | 330,174 | |
Cost of revenue | (155,366) | (146,755) | (129,845) | (130,156) | (167,429) | (188,209) | ||
Cost of goods and services sold | (149,753) | (129,759) | (163,238) | (188,209) | ||||
Gross profit: | 87,565 | 92,099 | 75,047 | 90,467 | 103,831 | 141,965 | ||
Operating expenses | (89,635) | (153,194) | (85,035) | (92,918) | (115,183) | (109,756) | ||
Other undisclosed operating income | 1,875 | |||||||
Operating income (loss): | (2,070) | (61,095) | (9,988) | (2,451) | (11,352) | 34,084 | ||
Nonoperating income (expense) (Other Nonoperating Income (Expense)) | (13) | 4 | 133 | (313) | (845) | (516) | ||
Interest and debt expense | (5,958) | (3,969) | (2,870) | (2,708) | (2,054) | (2,185) | ||
Income (loss) from continuing operations before income taxes: | (8,041) | (65,060) | (12,725) | (5,472) | (14,251) | 31,383 | ||
Income tax expense (benefit) | (10,745) | 2,746 | (3,472) | (5,825) | (2,409) | (15,400) | ||
Income (loss) from continuing operations: | (18,786) | (62,314) | (16,197) | (11,297) | (16,660) | 15,983 | ||
Income (loss) before gain (loss) on sale of properties: | (18,786) | (62,314) | (16,197) | (11,297) | (16,660) | 15,983 | ||
Net income (loss): | (18,786) | (62,314) | (16,197) | (11,297) | (16,660) | 15,983 | ||
Net income (loss) attributable to noncontrolling interest | (370) | (139) | 21 | (210) | (314) | (348) | ||
Net income (loss) available to common stockholders, basic: | (19,156) | (62,453) | (16,176) | (11,507) | (16,974) | 15,635 | ||
Dilutive securities, effect on basic earnings per share | 578 | |||||||
Net income (loss) available to common stockholders, diluted: | (19,156) | (62,453) | (16,176) | (11,507) | (16,974) | 16,213 |
Comprehensive Income ($ in thousands)
12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
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Net income (loss): | (18,786) | (62,314) | (16,197) | (11,297) | (16,660) | 15,983 | ||
Other undisclosed comprehensive income (loss) | (248) | (4,448) | 3,165 | (4,135) | (7,154) | (7,117) | ||
Comprehensive income (loss): | (19,034) | (66,762) | (13,032) | (15,432) | (23,814) | 8,866 | ||
Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (370) | (139) | 21 | (210) | (314) | (348) | ||
Comprehensive income (loss), net of tax, attributable to parent: | (19,404) | (66,901) | (13,011) | (15,642) | (24,128) | 8,518 |
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.