Sunworks, Inc. (SUNW) Financial Statements (2024 and earlier)

Company Profile

Business Address 1030 WINDING CREEK ROAD
ROSEVILLE, CA 95678
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 369 - Miscellaneous Electrical Machinery, Equipment, and Supplies (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 investments7,80719,71938,9913,1543,6286,356
Cash and cash equivalents7,80719,71938,9913,1543,6286,356
Restricted cash and investments248  385447475
Receivables13,8734,5682,8907,6068,20111,330
Inventory, net of allowances, customer advances and progress billings26,40110,2191,1792,9703,2334,450
Inventory26,40110,2191,1792,9703,2334,450
Contract with customer, asset, after allowance for credit loss20,69914,4982,3974,8646,153
Costs in excess of billings3,790
Other current assets5,8244,1541372751502,081
Other undisclosed current assets  323348   
Total current assets:74,85253,48145,94219,25421,81228,482
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization2,4871,407  
Operating lease, right-of-use asset2,7792,5026941,505
Property, plant and equipment2,1543,1951985118521,233
Intangible assets, net (including goodwill)37,47640,0965,464   
Goodwill32,18632,1865,464   
Intangible assets, net (excluding goodwill)5,2907,910    
Deposits noncurrent assets19213247   
Other noncurrent assets    9,5339,53211,432
Total noncurrent assets:45,08847,3326,40311,54910,38412,665
TOTAL ASSETS:119,940100,81352,34530,80332,19641,147
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:24,56711,1277,35611,22111,85813,090
Employee-related liabilities3,132798628506526
Accounts payable 15,7213,9293,7808,6769,48810,637
Accrued liabilities 3,8494,0662,7781,9171,8641,927
Other undisclosed accounts payable and accrued liabilities4,997     
Deferred revenue24,96012,2015,9614,616
Debt6314247871,204936835
Billings in excess of cost7,288
Customer advances and deposits2,905
Contract with customer, liability5,069
Other undisclosed current liabilities1,098993948753158 
Total current liabilities:51,25624,74515,05217,79418,02124,118
Noncurrent Liabilities
Long-term debt and lease obligation1,4702,0512,1054,1253,7571,123
Long-term debt, excluding current maturities   2,0603,4843,7571,123
Finance lease, liability1,470542  
Liabilities, other than long-term debt3,2771,2511,131441321246
Accounts payable and accrued liabilities1,5961,2511,131441321246
Operating lease, liability1,6811,50945641
Other undisclosed noncurrent liabilities     101 
Total noncurrent liabilities:4,7473,3023,2364,5664,1791,369
Total liabilities:56,00328,04718,28822,36022,20025,487
Equity
Equity, attributable to parent63,93772,76634,0578,4439,99615,660
Preferred stock      2
Common stock35292472623
Additional paid in capital207,373187,997122,66881,13273,48072,000
Accumulated deficit(143,471)(115,260)(88,635)(72,696)(63,510)(56,365)
Total equity:63,93772,76634,0578,4439,99615,660
TOTAL LIABILITIES AND EQUITY:119,940100,81352,34530,80332,19641,147

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
Revenues161,935101,15437,91359,83070,96577,448
Revenue, net1,400,000
Cost of revenue(90,621)(56,507)(32,645)(53,167)(58,701)(63,785)
Cost of goods and services sold(90,621)(56,507)(32,645)(53,167)(58,701) 
Other undisclosed gross profit      
Gross profit:71,31444,6475,2686,66312,26413,663
Operating expenses(99,523)(73,871)(20,503)(14,992)(17,422)(19,977)
Operating loss:(28,209)(29,224)(15,235)(8,329)(5,158)(6,314)
Nonoperating income (expense)922,599(704)(857)(582)(908)
Other nonoperating income (expense)162,894106(38)16
Interest and debt expense(172)(381)(266)(36)(43)(924)
Other undisclosed income from continuing operations before equity method investments, income taxes   2663643924
Loss from continuing operations before equity method investments, income taxes:(28,289)(27,006)(15,939)(9,186)(5,740)(7,222)
Other undisclosed income from continuing operations before income taxes172381    
Loss from continuing operations before income taxes:(28,117)(26,625)(15,939)(9,186)(5,740)(7,222)
Income tax expense(94)     
Loss from continuing operations:(28,211)(26,625)(15,939)(9,186)(5,740)(7,222)
Loss before gain (loss) on sale of properties:(26,625)(15,939)(9,186)(5,740)(7,222)
Net loss attributable to parent:(28,211)(26,625)(15,939)(9,186)(5,740)(7,222)
Preferred stock dividends and other adjustments   (60)   
Net loss available to common stockholders, diluted:(28,211)(26,625)(15,999)(9,186)(5,740)(7,222)

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:(28,211)(26,625)(15,939)(9,186)(5,740)(7,222)
Comprehensive loss, net of tax, attributable to parent:(28,211)(26,625)(15,939)(9,186)(5,740)(7,222)

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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