SMG Industries Inc. (SMGI) Financial Statements (2024 and earlier)

Company Profile

Business Address 20475 STATE HWY 249
HOUSTON, TX 77070
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 47 - Transportation Services (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 investments12725826430286
Cash and cash equivalents12725826430286
Receivables12,18611,7034,9211,244704441
Inventory, net of allowances, customer advances and progress billings   130141142
Inventory   130141142
Disposal group, including discontinued operation 17438   
Asset, held-for-sale, not part of disposal group     4242
Other undisclosed current assets3,4143,0212,1253009725
Total current assets:15,72714,9997,7481,704985737
Noncurrent Assets
Operating lease, right-of-use asset7353,3131,271266
Property, plant and equipment5,41510,46316,338 1,998119
Intangible assets, net (including goodwill)   131515 
Goodwill    186 
Intangible assets, net (excluding goodwill)   131330 
Disposal group, including discontinued operation, noncurrent assets  21,569   
Other noncurrent assets3054495002028 
Other undisclosed noncurrent assets    4,310  
Total noncurrent assets:6,45514,22619,6774,7272,541119
TOTAL ASSETS:22,18229,22627,4256,4313,526855
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities4,9346,8294,7692,7211,176465
Interest and dividends payable483947   
Taxes payable423146   
Employee-related liabilities1,929490   
Accounts payable 3,0153,9593,1712,129969395
Accrued liabilities1,919351559220870
Deferred revenue 128 3036
Debt20,08014,16510,2763,0101,107619
Disposal group, including discontinued operation2015882,243   
Due to related parties5669520508496
Other undisclosed current liabilities8,9103,6181,369 40 
Total current liabilities:34,81825,29518,8925,7672,4071,179
Noncurrent Liabilities
Long-term debt and lease obligation13,30717,08215,9251,3251,008258
Long-term debt, excluding current maturities13,30714,53615,0791,136968258
Capital lease obligations41 
Finance lease, liability    24
Liabilities, other than long-term debt5793821,008 47 
Due to related parties    47 
Disposal group, including discontinued operation, liabilities3013821,008   
Operating lease, liability2782,546846165
Other undisclosed noncurrent liabilities  2,6202,417261162 
Total noncurrent liabilities:13,88620,08419,3511,5861,217258
Total liabilities:48,70445,37938,2437,3533,6241,438
Equity
Equity, attributable to parent, including:(26,522)(16,153)(10,818)(921)(98)(582)
Common stock39341915129
Additional paid in capital18,08116,84610,9784,7561,568(57)
Accumulated deficit(44,643)(33,033)(21,816)(5,693)(1,677)(534)
Other undisclosed equity, attributable to parent  00  
Total equity:(26,522)(16,153)(10,818)(921)(98)(582)
TOTAL LIABILITIES AND EQUITY:22,18229,22627,4256,4313,526855

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
Revenues71,02252,11426,6666,4744,4222,466
Revenue, net2,466
Cost of revenue(65,285)(52,714)(29,477)(5,532)(2,769)(1,446)
Gross profit:5,737(601)(2,811)9431,6531,020
Operating expenses(8,749)(8,378)(7,838)(3,979)(2,496)(1,603)
Operating loss:(3,012)(8,978)(10,649)(3,036)(842)(583)
Nonoperating expense(8,739)(2,506)(3,456)(948)  
Interest and debt expense5655,02294(83)(301)(148)
Loss from continuing operations:(11,186)(6,463)(14,011)(4,067)(1,143)(731)
Loss before gain (loss) on sale of properties:(6,463)(14,011)(4,067)(1,143)(731)
Other undisclosed net income (loss)(565)     
Net loss:(11,751)(6,463)(14,011)(4,067)(1,143)(731)
Other undisclosed net income (loss) attributable to parent141(4,679)(1,858)83  
Net loss attributable to parent:(11,610)(11,142)(15,869)(3,984)(1,143)(731)
Preferred stock dividends and other adjustments (75)(254)(31)  
Net loss available to common stockholders, diluted:(11,610)(11,217)(16,123)(4,015)(1,143)(731)

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 loss:(11,751)(6,463)(14,011)(4,067)(1,143)(731)
Comprehensive loss, net of tax, attributable to parent:(11,751)(6,463)(14,011)(4,067)(1,143)(731)

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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