FTE Networks, Inc. (FTNW) financial statements (2022 and earlier)

Company profile

Business Address 237 WEST 35TH STREET
NEW YORK, NY 10001
State of Incorp. NV
Fiscal Year End December 31
SIC 4813 - Telephone Communications, Except Radiotelephone (benchmarking)
More info Complete financial analysis Financial benchmarking

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
9/30/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments78212,17015,6421,412208
Cash and cash equivalents78212,17015,6421,412208
Receivables74274,04872,2767,0201,215
Other current assets6493,9947,2562,8331,913
Other undisclosed current assets1,3585,9741,149 64
Total current assets:3,53196,18696,32311,2643,400
Noncurrent Assets
Operating lease, right-of-use asset1,038
Property, plant and equipment1,0383,4057,9553,4671,419
Intangible assets, net (including goodwill) 64,69963,368  
Goodwill 45,00735,672  
Intangible assets, net (excluding goodwill) 19,69227,696  
Other undisclosed noncurrent assets229,828 1 76
Total noncurrent assets:231,90468,10471,3243,4671,495
TOTAL ASSETS:235,435164,290167,64714,7314,895
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities15,82287,42645,1082,3571,674
Accounts payable2,98677,07635,1352,3572,477
Accrued liabilities12,83610,3509,973 (2,965)
Employee-related liabilities    1,731
Interest and dividends payable    431
Debt34,1867,758(8,493)7,6111,896
Derivative instruments and hedges, liabilities4,1698,038   
Estimated litigation liability    1,841
Due to related parties10,750178,526100184
Billings in excess of cost30,304  
Other liabilities12,83610,3509,9733,2022,965
Other undisclosed current liabilities19,32878,0989,0081,3851,203
Total current liabilities:97,091191,68794,42614,6569,763
Noncurrent Liabilities
Long-term debt and lease obligation63,4881,2681,9552,3624,571
Long-term debt, excluding current maturities62,9621,2681,9552,3624,571
Finance lease, liability44
Operating lease, liability482
Liabilities, other than long-term debt23030,79439,090  
Deferred tax liabilities, net 560  
Deferred income tax liabilities 1,641
Due to related parties23029,15338,530  
Other undisclosed noncurrent liabilities  24,1437,5761,686
Total noncurrent liabilities:63,71832,06265,1889,9396,258
Total liabilities:160,809223,749159,61424,59416,020
Temporary equity, carrying amount   437 
Stockholders' equity
Stockholders' equity attributable to parent, including:74,626(59,459)8,033(10,301)(11,126)
Common stock211267845
Additional paid in capital131,366113,88149,38111,5002,523
Accumulated deficit(190,072)(174,632)(38,304)(19,050)(13,362)
Warrants and rights outstanding5,332    
Stockholders' equity note, subscriptions receivable  (3,675)2,829
Other undisclosed stockholders' equity attributable to parent127,9791,280625(5,658)(331)
Total stockholders' equity:74,626(59,459)8,033(10,301)(11,126)
TOTAL LIABILITIES AND EQUITY:235,435164,290167,64714,7314,895

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
9/30/2015
Revenues7,518384,755243,40912,26914,389
Cost of revenue(7,540)(331,868)(206,394)(8,848)(11,072)
Gross profit:(22)52,88737,0153,4213,317
Operating expenses(25,041)(91,180)(38,641)(5,822)(4,923)
Operating loss:(25,063)(38,293)(1,626)(2,402)(1,607)
Nonoperating expense(4,631)(7,213)(17,843)(3,833)(1,948)
Investment income, nonoperating(1,602)17,177   
Other nonoperating expense(287)(80)(123)(422)(539)
Interest and debt expense 35,425(2,843)(2,272)(1,308)
Loss from continuing operations before equity method investments, income taxes:(29,694)(10,081)(22,312)(8,507)(4,863)
Other undisclosed loss from continuing operations before income taxes (35,425)(172,457)  
Loss from continuing operations before income taxes:(29,694)(45,506)(194,769)(8,507)(4,863)
Income tax expense (benefit) (1,086)560(1,958) 
Loss from continuing operations:(29,694)(46,592)(194,209)(10,464)(4,863)
Income from discontinued operations14,254    
Net loss:(15,440)(46,592)(194,209)(10,464)(4,863)
Other undisclosed net income attributable to parent  174,1804,2301,308
Net loss attributable to parent:(15,440)(46,592)(20,029)(6,234)(3,555)
Preferred stock dividends and other adjustments(80)(80)(80)(80)(80)
Other undisclosed net loss available to common stockholders, basic   (0) 
Net loss available to common stockholders, diluted:(15,520)(46,672)(20,109)(6,314)(3,634)

Comprehensive Income ($ in thousands)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
9/30/2015
Net loss:(15,440)(46,592)(194,209)(10,464)(4,863)
Comprehensive loss, net of tax, attributable to parent:(15,440)(46,592)(194,209)(10,464)(4,863)

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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