Avalon GloboCare Corp. (AVCO) Financial Statements (2024 and earlier)

Company Profile

Business Address 4400 ROUTE 9
FREEHOLD, NJ 07728
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 2836 - Biological Products, Except Diagnostic Substances (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 investments1,9918087277652,2523,027
Cash and cash equivalents1,9918087277652,2523,027
Receivables 7434 244238
Inventory, net of allowances, customer advances and progress billings     133
Inventory     133
Prepaid expense 187316316936
Deferred costs 139222   
Other current assets      
Other undisclosed current assets3091573077191,149131
Total current assets:2,3741,3231,2861,5713,6253,235
Noncurrent Assets
Operating lease, right-of-use asset11145137 
Property, plant and equipment13836247960125048
Long-term investments and receivables485   385 
Long-term investments485   385 
Intangible assets, net (including goodwill), including: 7,498   1,2561,583
Goodwill      (924)
Intangible assets, net (excluding goodwill) 7,498   1,5832,593
Other undisclosed intangible assets, net (including goodwill)     (328)(86)
Prepaid expense 384     
Restricted cash and investments 139     
Deferred costs  110144   
Other noncurrent assets38475    
Other undisclosed noncurrent assets8,3388,2288,3198,3187,8807,803
Total noncurrent assets:17,3788,9199,0808,9199,7709,434
TOTAL ASSETS:19,75210,24210,36610,49113,39612,669
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,3472,2031,4541,816870224
Interest and dividends payable   75138
Taxes payable   53
Employee-related liabilities307154488529 
Accounts payable   878470
Accrued liabilities2,3471,8961,2131,24325483
Debt     1,500
Deferred compensation liability      
Deferred rent credit   241314
Derivative instruments and hedges, liabilities      
Deferred revenue and credits13
Due to related parties100390  100450
Other undisclosed current liabilities1,1331,8091,1151,0071583,173
Total current liabilities:3,5804,4022,5922,8351,1425,360
Noncurrent Liabilities
Long-term debt and lease obligation4,5632,7563,2672,6001,000 
Long-term debt, excluding current maturities4,5632,7503,2002,6001,000 
Liabilities, other than long-term debt450 390590  
Accounts payable and accrued liabilities 450     
Due to related parties  390590  
Operating lease, liability 667 
Other undisclosed noncurrent liabilities (6)    
Total noncurrent liabilities:5,0132,7563,6573,1901,000 
Total liabilities:8,5937,1586,2496,0252,1425,360
Equity
Equity, attributable to parent, including:11,1593,0844,1174,46512,1167,894
Preferred stock 9,000     
Common stock198877
Treasury stock, value(523)(523)(523)(523)(523) 
Additional paid in capital65,95054,88946,85634,59324,15311,490
Accumulated other comprehensive loss(213)(165)(191)(258)(237)(92)
Accumulated deficit(63,063)(51,132)(42,041)(29,362)(11,292)(3,518)
Other undisclosed equity, attributable to parent777777
Equity, attributable to noncontrolling interest     (862)(585)
Total equity:11,1593,0844,1174,46511,2547,309
TOTAL LIABILITIES AND EQUITY:19,75210,24210,36610,49113,39612,669

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
Revenues1,2021,3911,3781,5461,5621,078
Revenue, net1,051
Revenue from related parties 401,2071,1561,121
Other income2244    
Other undisclosed gross profit(929)(976)(988)(1,206)(1,581)(1,028)
Gross profit:273415390340(19)50
Operating expenses(9,066)(9,248)(12,844)(19,717)(8,019)(4,126)
Other operating expense, net(344)     
Other expenses(344)     
Other undisclosed operating income (loss)344   407198
Operating loss:(8,793)(8,834)(12,454)(19,377)(7,631)(3,878)
Nonoperating income (expense)3,719  13(107)(57)
Investment income, nonoperating3,281     
Gain (loss), foreign currency transaction, before tax    13(107)(57)
Other nonoperating income438     
Interest and debt expense(176)(200)(169)(83)(315)(138)
Loss from continuing operations before equity method investments, income taxes:(5,249)(9,034)(12,623)(19,447)(8,053)(4,073)
Income (loss) from equity method investments(42)  (56)(53) 
Other undisclosed income (loss) from continuing operations before income taxes(6,640)(56)(57)1,4335324
Loss from continuing operations before income taxes:(11,931)(9,090)(12,679)(18,070)(8,052)(4,050)
Income tax benefit 2,1062,5753,2567,316  
Other undisclosed loss from continuing operations (2,106)     
Loss from continuing operations:(11,931)(6,515)(9,423)(10,755)(8,052)(4,050)
Loss before gain (loss) on sale of properties:(6,515)(9,423)(10,755)(8,052)(4,050)
Other undisclosed net loss   (3,256)(7,316)  
Net loss:(11,931)(6,515)(12,679)(18,070)(8,052)(4,050)
Net income attributable to noncontrolling interest  9,090    
Other undisclosed net loss attributable to parent  (11,666)    
Net loss attributable to parent:(11,931)(9,090)(12,679)(18,070)(8,052)(4,050)
Preferred stock dividends and other adjustments(9,000)     
Other undisclosed net income available to common stockholders, basic20,9739,151  278585
Net income (loss) available to common stockholders, basic:4260(12,679)(18,070)(7,774)(3,464)
Other undisclosed net loss available to common stockholders, diluted      (97)
Net income (loss) available to common stockholders, diluted:4260(12,679)(18,070)(7,774)(3,562)

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:(11,931)(6,515)(12,679)(18,070)(8,052)(4,050)
Other comprehensive income (loss)48(25)(67)(21)143(3)
Other undisclosed comprehensive income (loss)(96)(2,525)134 (10)590
Comprehensive loss:(11,979)(9,065)(12,612)(18,091)(7,919)(3,462)
Comprehensive income, net of tax, attributable to noncontrolling interest  9,090  277585
Other undisclosed comprehensive loss, net of tax, attributable to parent  (9,090)  (554)(1,171)
Comprehensive loss, net of tax, attributable to parent:(11,979)(9,065)(12,612)(18,091)(8,196)(4,047)

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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