Fortress Biotech, Inc. (FBIO) Financial Statements (2024 and earlier)

Company Profile

Business Address 1111 KANE CONCOURSE
BAY HARBOR ISLANDS, FL 33154
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 2834 - Pharmaceutical Preparations (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 investments178,266305,744233,351136,85883,112149,917
Cash and cash equivalents178,266305,744233,351136,85865,508113,915
Short-term investments     17,60436,002
Receivables28,34623,79020,09314,4045,5109,992
Inventory, net of allowances, customer advances and progress billings14,1599,8621,404857678171
Inventory14,1599,8621,404857678171
Prepaid expense      1,000
Disposal group, including discontinued operation     13,089 
Other undisclosed current assets9,6617,0666,7234,1338,81822,101
Total current assets:230,432346,462261,571156,252111,207183,181
Noncurrent Assets
Operating lease, right-of-use asset19,99119,00520,48721,480
Property, plant and equipment13,02015,06611,92312,43312,0199,513
Long-term investments and receivables   17,56611,148 1,390
Long-term investments   17,56611,148 1,390
Intangible assets, net (including goodwill)27,19712,55214,6297,3771,41733,868
Goodwill      18,645
Intangible assets, net (excluding goodwill)27,19712,55214,6297,3771,41715,223
Restricted cash and investments2,6882,2201,64516,57416,07417,387
Other noncurrent assets9731,1981,0131,158276611
Total noncurrent assets:63,86950,04167,26370,17029,78662,769
TOTAL ASSETS:294,301396,503328,834226,422140,993245,950
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:97,44690,66040,67435,45134,06736,127
Interest and dividends payable  1,0421,232315
Taxes payable345136   
Employee-related liabilities    10,065
Accrued liabilities97,44690,66029,26225,39916,36017,632
Other undisclosed accounts payable and accrued liabilities  (345)11,2769,01016,4758,115
Deferred revenue 7282,611  
Debt 2,948812 1,7849,91413,228
Derivative instruments and hedges, liabilities    2799187
Deferred revenue and credits786
Due to related parties   7,220149222
Other liabilities268 5,300  181
Other undisclosed current liabilities26,3256,9591,9851,13410,49316,797
Total current liabilities:127,715101,04247,95945,61655,61467,428
Noncurrent Liabilities
Long-term debt and lease obligation91,73063,92474,568101,14860,42543,222
Long-term debt, excluding current maturities91,73042,93751,67777,43660,42543,222
Liabilities, other than long-term debt23,4192,0331,9497,1265,2114,739
Other liabilities1,8472,0331,9497,1265,2114,739
Operating lease, liability21,57220,98722,89123,712
Other undisclosed noncurrent liabilities 1,4123,6277,359  10,059
Total noncurrent liabilities:116,56169,58483,876108,27465,63658,020
Total liabilities:244,276170,626131,835153,890121,250125,448
Equity
Equity, attributable to parent41,721108,674100,33826,2151,85252,573
Preferred stock333111
Common stock11010195745851
Common stock, value, subscriptions    500659500
Additional paid in capital675,841656,033583,000461,874397,408364,148
Accumulated deficit(634,233)(547,463)(482,760)(436,234)(396,274)(312,127)
Equity, attributable to noncontrolling interest8,304117,20396,66146,31717,89167,929
Total equity:50,025225,877196,99972,53219,743120,502
TOTAL LIABILITIES AND EQUITY:294,301396,503328,834226,422140,993245,950

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
Revenues75,74368,79145,59936,62926,882187,584
Revenue, net187,584
Other income2,674     
Cost of revenue(165,651)(41,576)(78,703)(18,376)(6,125)(3,658)
Cost of goods and services sold(30,775)(32,084)(14,594)(10,532)(6,125)(3,658)
Gross profit:(89,908)27,215(33,104)18,25320,757183,926
Operating expenses(113,656)(215,756)(61,166)(129,072)(146,879)(288,792)
Other undisclosed operating income     6,1253,658
Operating loss:(203,564)(188,541)(94,270)(110,819)(119,997)(101,208)
Nonoperating income (expense)(9,900)24,188(8,579)9,159(10,803)2,885
Investment income, nonoperating1,3986491,5182,5591,172585
Other nonoperating income      
Interest and debt expense(12,482)(15,308)(617)(3)(2)(5,860)
Other undisclosed income from continuing operations before equity method investments, income taxes   617325,860
Loss from continuing operations before equity method investments, income taxes:(225,946)(179,661)(102,849)(101,660)(130,800)(98,323)
Other undisclosed income from continuing operations before income taxes12,48215,308    
Loss from continuing operations before income taxes:(213,464)(164,353)(102,849)(101,660)(130,800)(98,323)
Income tax expense(449)(473)(136)  (1,513)
Other undisclosed loss from continuing operations      
Loss from continuing operations:(213,913)(164,826)(102,985)(101,660)(130,800)(99,836)
Loss before gain (loss) on sale of properties:(164,826)(102,985)(101,660)(141,936)(99,836)
Loss from discontinued operations     (11,136) 
Other undisclosed net income      
Net loss:(213,913)(164,826)(102,985)(101,660)(141,936)(99,836)
Net income attributable to noncontrolling interest127,338100,12356,45961,70057,78932,960
Net loss attributable to parent:(86,575)(64,703)(46,526)(39,960)(84,147)(66,876)
Preferred stock dividends and other adjustments      
Net loss available to common stockholders, diluted:(86,575)(64,703)(46,526)(39,960)(84,147)(66,876)

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:(213,913)(164,826)(102,985)(101,660)(141,936)(99,836)
Comprehensive loss:(213,913)(164,826)(102,985)(101,660)(141,936)(99,836)
Comprehensive income, net of tax, attributable to noncontrolling interest127,338100,12356,45961,70057,78932,960
Comprehensive loss, net of tax, attributable to parent:(86,575)(64,703)(46,526)(39,960)(84,147)(66,876)

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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