Flexible Solutions International Inc. (FSI) Financial Statements (2024 and earlier)

Company Profile

Business Address 2614 QUEENSWOOD DR
VICTORIA B C, BC V8N 1X5
State of Incorp. NV
Fiscal Year End December 31
Industry (SIC) 289 - Miscellaneous Chemical Products (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 investments6,1151,0253,4733,6357,8586,912
Cash and cash equivalents6,115 3,4733,6357,8586,912
Short-term investments  1,025    
Receivables9,4507,1295,8904,4704,4232,105
Inventory, net of allowances, customer advances and progress billings14,4199,5028,3729,1838,7284,687
Inventory14,4199,5028,3729,1838,7284,687
Prepaid expense310442302219200255
Deposits current assets7001,0251,000   
Other undisclosed current assets  4,685    
Total current assets:30,99523,80919,03817,50621,20913,960
Noncurrent Assets
Operating lease, right-of-use asset167217483789
Property, plant and equipment9,7094,9325,1424,0062,5631,939
Long-term investments and receivables5,4595,4244,7761,91677613
Long-term investments5,4595,4244,7761,91677613
Intangible assets, net (including goodwill)4,9745,1345,3105,4865,66279
Goodwill2,5342,5342,5342,5342,534 
Intangible assets, net (excluding goodwill)2,4402,6002,7762,9523,12879
Deposits noncurrent assets999313119
Restricted cash and investments    1,000  
Deferred income tax assets274133001,600
Other undisclosed noncurrent assets  1430479551,764
Total noncurrent assets:20,59315,74216,05014,8749,9873,814
TOTAL ASSETS:51,58739,55135,08732,38031,19617,773
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1,8346,3024,3242,5881,051939
Taxes payable4,5612,5401,7701,3571,102
Accounts payable8741,283558636  
Accrued liabilities9604571,226181  
Other undisclosed accounts payable and accrued liabilities     (307)(162)
Deferred revenue388349314213
Debt718794849406 201
Deferred revenue and credits209
Other undisclosed current liabilities7,3632,3792,4043,5875,0541,352
Total current liabilities:10,3029,8237,8916,7936,1052,701
Noncurrent Liabilities
Long-term debt and lease obligation5,4361,7133,1943,5673,580151
Long-term debt, excluding current maturities5,4361,5732,9993,1843,580151
Liabilities, other than long-term debt6103102341,059  
Deferred income tax liabilities5003102341,059
Operating lease, liability109140195384
Other undisclosed noncurrent liabilities    5001,990 
Total noncurrent liabilities:6,0462,0233,4285,1265,570151
Total liabilities:16,34811,84611,31911,91911,6752,851
Equity
Equity, attributable to parent32,63425,10321,20717,91117,05914,922
Common stock121212121212
Additional paid in capital17,52316,98416,63316,43715,32815,115
Accumulated other comprehensive loss(806)(776)(872)(995)(1,223)(656)
Retained earnings15,9048,8825,4332,4562,942452
Equity, attributable to noncontrolling interest2,6052,6032,5622,5502,462 
Total equity:35,23927,70523,76820,46119,52214,922
TOTAL LIABILITIES AND EQUITY:51,58739,55135,08732,38031,19617,773

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
Revenues45,84034,41631,40727,44017,83015,494
Revenue, net15,494
Cost of revenue
(Cost of Goods and Services Sold)
(31,972)(23,020)(21,641)(18,820)(12,193)(9,509)
Gross profit:13,86911,3979,7668,6215,6375,985
Operating expenses(6,818)(5,913)(5,649)(6,713)(4,330)(4,474)
Operating income:7,0505,4834,1181,9081,3071,511
Nonoperating income (expense)
(Investment Income, Nonoperating)
34158593040534(83)
Interest and debt expense(293) (261)(428)(94)(1)
Other undisclosed income from continuing operations before equity method investments, income taxes      1,380
Income from continuing operations before equity method investments, income taxes:7,0996,0684,7871,8841,2472,807
Other undisclosed income from continuing operations before income taxes7605824034311,808 
Income from continuing operations before income taxes:7,8596,6515,1912,3153,0552,807
Income tax expense (benefit)(146)(2,356)(1,607)(620)(533)(680)
Income from continuing operations:7,7134,2943,5841,6952,5222,127
Income before gain (loss) on sale of properties:4,2943,5841,6952,5222,127
Other undisclosed net income (loss)    602(100)(372)
Net income:7,7134,2943,5842,2972,4221,755
Net income (loss) attributable to noncontrolling interest(692)(845)(606)(385)69 
Net income available to common stockholders, diluted:7,0223,4492,9771,9122,4901,755

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 income:7,7134,2943,5842,2972,4221,755
Other comprehensive income (loss)     (1,855)431
Other undisclosed comprehensive income (loss)(30)96122228  
Comprehensive income:7,6834,3913,7062,5255662,186
Comprehensive loss, net of tax, attributable to noncontrolling interest(692)(845)(606)(385)(1,924) 
Comprehensive income (loss), net of tax, attributable to parent:6,9923,5463,1002,140(1,357)2,186

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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