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
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2103141273951,6672,367
Cash and cash equivalents2103141273951,6672,367
Receivables13,21912,56612,18611,65711,73012,573
Inventory, net of allowances, customer advances and progress billings      
Inventory      
Disposal group, including discontinued operation   171717
Other undisclosed current assets2,2633,2063,4144,6313,4273,226
Total current assets:15,69216,08515,72716,70116,84118,183
Noncurrent Assets
Operating lease, right-of-use asset5046157358519663,199
Property, plant and equipment4,2874,9515,4156,7128,2039,712
Intangible assets, net (including goodwill)      
Goodwill      
Intangible assets, net (excluding goodwill)      
Disposal group, including discontinued operation, noncurrent assets    222
Other noncurrent assets110228305355435935
Total noncurrent assets:4,9015,7946,4557,9199,60513,847
TOTAL ASSETS:20,59321,87922,18224,62026,44632,030
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,8575,3354,9348,2977,4464,653
Interest and dividends payable397548460
Taxes payable550495395
Employee-related liabilities1,2931,3861,414
Accounts payable  3,5013,0153,7652,5662,302
Accrued liabilities1,8571,8341,9192,2922,45182
Deferred revenue   128   
Debt21,65720,56120,08018,46915,50616,722
Disposal group, including discontinued operation181186201414436495
Due to related parties853566239189141
Other undisclosed current liabilities15,76910,9888,9102,9104,1956,131
Total current liabilities:39,46337,92334,81830,33027,77128,143
Noncurrent Liabilities
Long-term debt and lease obligation11,46912,50813,30715,70919,21621,309
Long-term debt, excluding current maturities11,46912,50813,30715,31618,70718,850
Liabilities, other than long-term debt401459579310319358
Disposal group, including discontinued operation, liabilities279289301310319358
Operating lease, liability1221692783935092,459
Other undisclosed noncurrent liabilities 513492 3,0491,5161,592
Total noncurrent liabilities:12,38313,45913,88619,06921,05123,259
Total liabilities:51,84751,38248,70449,39948,82251,401
Equity
Equity, attributable to parent, including:(31,254)(29,503)(26,522)(24,778)(22,376)(19,371)
Common stock494939393535
Additional paid in capital15,14215,13218,08118,06617,27317,258
Accumulated deficit(46,445)(44,683)(44,643)(42,884)(39,684)(36,664)
Other undisclosed equity, attributable to parent      
Total equity:(31,254)(29,503)(26,522)(24,778)(22,376)(19,371)
TOTAL LIABILITIES AND EQUITY:20,59321,87922,18224,62026,44632,030

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues21,78720,87017,43219,33118,07716,181
Cost of revenue(18,861)(18,240)(15,554)(18,070)(16,936)(14,725)
Gross profit:2,9262,6291,8781,2611,1411,456
Operating expenses(2,723)(3,063)(1,592)(2,405)(2,288)(2,464)
Operating income (loss):203(433)286(1,144)(1,147)(1,008)
Nonoperating income (expense)(1,958)(3,092)(2,222)(2,054)(1,835)(2,628)
Other nonoperating income (expense)14(195)  9(9)
Interest and debt expense(1,972)(2,897) 565(2,179)(2,619)
Income (loss) from continuing operations:(3,728)(6,422)(1,935)(2,632)(5,161)(6,255)
Loss before gain (loss) on sale of properties:(2,632)(5,161)(6,255)
Other undisclosed net income  2,897   2,619
Net income (loss):(3,728)(3,525)(1,935)(2,632)(5,161)(3,636)
Other undisclosed net income (loss) attributable to parent1,966(2)177(568)2,1415
Net loss attributable to parent:(1,762)(3,527)(1,759)(3,200)(3,020)(3,631)
Preferred stock dividends and other adjustments      
Net loss available to common stockholders, diluted:(1,762)(3,527)(1,759)(3,200)(3,020)(3,631)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):(3,728)(3,525)(1,935)(2,632)(5,161)(3,636)
Comprehensive income (loss), net of tax, attributable to parent:(3,728)(3,525)(1,935)(2,632)(5,161)(3,636)

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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