Fortress Biotech, Inc. (FBIO) financial statements (2022 and earlier)

Company profile

Business Address 1111 KANE CONCOURSE
BAY HARBOR ISLANDS, FL 33154
State of Incorp. DE
Fiscal Year End December 31
SIC 2834 - Pharmaceutical Preparations (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments305,744233,351136,85883,112149,91788,294
Cash and cash equivalents305,744233,351136,85865,508113,91588,294
Short-term investments   17,60436,002 
Receivables23,79020,09314,4045,5109,9925,332
Inventory, net of allowances, customer advances and progress billings9,8621,404857678171203
Inventory9,8621,404857678171203
Prepaid expense    1,000 
Disposal group, including discontinued operation   13,089  
Other undisclosed current assets7,0666,7234,1338,81822,10115,805
Total current assets:346,462261,571156,252111,207183,181109,634
Noncurrent Assets
Operating lease, right-of-use asset19,00520,48721,480
Property, plant and equipment15,06611,92312,43312,0199,5137,376
Long-term investments and receivables 17,56611,148 1,3901,414
Long-term investments 17,56611,148 1,3901,414
Intangible assets, net (including goodwill)12,55214,6297,3771,41733,86836,053
Goodwill    18,64518,645
Intangible assets, net (excluding goodwill)12,55214,6297,3771,41715,22317,408
Restricted cash and investments2,2201,64516,57416,07417,38715,860
Other noncurrent assets1,1981,0131,158276611394
Total noncurrent assets:50,04167,26370,17029,78662,76961,097
TOTAL ASSETS:396,503328,834226,422140,993245,950170,731
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:90,66040,67435,45134,06736,12724,295
Accrued liabilities90,66029,26225,39916,36017,63210,082
Employee-related liabilities    10,06511,940
Taxes payable345136    
Interest and dividends payable  1,0421,23231588
Other undisclosed accounts payable and accrued liabilities(345)11,2769,01016,4758,1152,185
Deferred revenue2,611  
Debt812 1,7849,91413,2282,031
Derivative instruments and hedges, liabilities  2799187481
Due to related parties  7,22014922277
Deferred revenue and credits786995
Other liabilities 5,300  181319
Other undisclosed current liabilities6,9591,9851,13410,49316,79728,367
Total current liabilities:101,04247,95945,61655,61467,42856,565
Noncurrent Liabilities
Long-term debt and lease obligation63,92474,568101,14860,42543,22222,528
Long-term debt, excluding current maturities42,93751,67777,43660,42543,22222,528
Operating lease, liability20,98722,89123,712
Liabilities, other than long-term debt2,0331,9497,1265,2114,7395,014
Other liabilities2,0331,9497,1265,2114,7395,014
Other undisclosed noncurrent liabilities3,6277,359  10,0593,656
Total noncurrent liabilities:69,58483,876108,27465,63658,02031,198
Total liabilities:170,626131,835153,890121,250125,44887,763
Stockholders' equity
Stockholders' equity attributable to parent108,674100,33826,2151,85252,57338,495
Preferred stock33111 
Common stock1019574585149
Common stock, value, subscriptions  500659500 
Additional paid in capital656,033583,000461,874397,408364,148283,697
Accumulated deficit(547,463)(482,760)(436,234)(396,274)(312,127)(245,251)
Stockholders' equity attributable to noncontrolling interest117,20396,66146,31717,89167,92944,473
Total stockholders' equity:225,877196,99972,53219,743120,50282,968
TOTAL LIABILITIES AND EQUITY:396,503328,834226,422140,993245,950170,731

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues68,79145,59936,62926,882187,58416,480
Revenue, net187,58416,480
Cost of revenue(41,576)(78,703)(18,376)(6,125)(3,658) 
Cost of goods and services sold(32,084)(14,594)(10,532)(6,125)(3,658) 
Gross profit:27,215(33,104)18,25320,757183,92616,480
Operating expenses(215,756)(61,166)(129,072)(146,879)(288,792)(82,190)
Other undisclosed operating income   6,1253,658 
Operating loss:(188,541)(94,270)(110,819)(119,997)(101,208)(65,710)
Nonoperating income (expense)24,188(8,579)9,159(10,803)2,885(5,580)
Investment income, nonoperating6491,5182,5591,172585298
Interest and debt expense(15,308)(617)(3)(2)(5,860)(3,690)
Other undisclosed income from continuing operations before equity method investments, income taxes 617325,860 
Loss from continuing operations before equity method investments, income taxes:(179,661)(102,849)(101,660)(130,800)(98,323)(74,980)
Other undisclosed income from continuing operations before income taxes15,308     
Loss from continuing operations before income taxes:(164,353)(102,849)(101,660)(130,800)(98,323)(74,980)
Income tax expense(473)(136)  (1,513) 
Loss from continuing operations:(164,826)(102,985)(101,660)(130,800)(99,836)(74,980)
Loss from discontinued operations   (11,136)  
Loss before gain (loss) on sale of properties:(164,826)(102,985)(101,660)(141,936)(99,836)(74,980)
Other undisclosed net income     3,690
Net loss:(164,826)(102,985)(101,660)(141,936)(99,836)(71,290)
Net income attributable to noncontrolling interest100,12356,45961,70057,78932,96016,195
Net loss available to common stockholders, diluted:(64,703)(46,526)(39,960)(84,147)(66,876)(55,095)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net loss:(164,826)(102,985)(101,660)(141,936)(99,836)(71,290)
Comprehensive loss:(164,826)(102,985)(101,660)(141,936)(99,836)(71,290)
Comprehensive income, net of tax, attributable to noncontrolling interest100,12356,45961,70057,78932,96016,195
Comprehensive loss, net of tax, attributable to parent:(64,703)(46,526)(39,960)(84,147)(66,876)(55,095)

Statements sources

The financial statements are based on the company's filings with the 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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