RigNet, Inc. (RNET) Financial Statements (2023 and earlier)

Company Profile

Business Address 15115 PARK ROW BOULEVARD, SUITE 300
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)

Current Assets
Cash, cash equivalents, and short-term investments 12,94121,71134,598
Cash and cash equivalents 12,94121,71134,598
Restricted cash and investments 424143
Receivables 67,05967,45049,021
Contract with customer, asset 13,2757,138
Costs in excess of billings2,393
Other undisclosed current assets 6,5006,7675,591
Total current assets: 99,817103,10791,646
Noncurrent Assets
Finance lease, right-of-use asset 6,829
Property, plant and equipment 60,11863,58560,344
Intangible assets, net (including goodwill) 76,93780,36467,493
Goodwill 46,79246,63137,088
Intangible assets, net (excluding goodwill) 30,14533,73330,405
Restricted cash and investments 1,5221,5441,500
Other undisclosed noncurrent assets 5,75710,3259,111
Total noncurrent assets: 151,163155,818138,448
TOTAL ASSETS: 250,980258,925230,094
Current Liabilities
Accounts payable and accrued liabilities 47,82639,37329,924
Accounts payable 28,51720,56812,234
Accrued liabilities 16,66016,37416,089
Taxes payable 2,6492,4311,601
Debt 10,7934,9424,941
Liability for uncertainty in income taxes  16,100 
Other undisclosed current liabilities 11,92340,5288,511
Total current liabilities: 70,542100,94343,376
Noncurrent Liabilities
Long-term debt and lease obligation, including: 96,93472,08553,173
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)72,08552,962
Liabilities, other than long-term debt 27,62628,94326,079
Deferred revenue and credits546
Deferred revenue 855
Other liabilities 26,77128,94325,533
Other undisclosed noncurrent liabilities 9,001970189
Total noncurrent liabilities: 133,561101,99879,441
Total liabilities: 204,103202,941122,817
Stockholders' equity
Stockholders' equity attributable to parent 46,72355,924107,199
Common stock 201918
Treasury stock, value (2,693)(1,270)(116)
Additional paid in capital 184,571172,946155,829
Accumulated other comprehensive loss (19,502)(19,254)(14,806)
Accumulated deficit (115,673)(96,517)(33,726)
Stockholders' equity attributable to noncontrolling interest 1546078
Total stockholders' equity: 46,87755,984107,277
TOTAL LIABILITIES AND EQUITY: 250,980258,925230,094

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

Revenues 242,931238,854204,892
Revenue, net204,892
Cost of revenue (155,366)(146,755)(129,845)
Cost of goods and services sold (149,753)  
Gross profit: 87,56592,09975,047
Operating expenses (89,635)(153,194)(85,035)
Operating loss: (2,070)(61,095)(9,988)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
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)

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.

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