GSE Systems, Inc. (GVP) financial statements (2022 and earlier)

Company profile

Business Address 6940 COLUMBIA GATEWAY DRIVE, SUITE 470
COLUMBIA, MD 21046-3308
State of Incorp. DE
Fiscal Year End December 31
SIC 7372 - Prepackaged Software (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
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3,5506,70211,69112,12319,11121,74711,084
Cash and cash equivalents3,5506,70211,69112,12319,11121,74711,084
Restricted cash and investments    9601,1401,771
Receivables11,38610,63017,44421,07714,41518,863425
Inventory, net of allowances, customer advances and progress billings   139755  
Inventory   139755  
Prepaid expense9338838615565492,0522,506
Other current assets4,2005357827951,073  
Other undisclosed current assets   310  12,628
Total current assets:20,06918,75030,77835,00036,86343,80228,414
Noncurrent Assets
Operating lease, right-of-use asset1,2001,5622,215
Property, plant and equipment8396169391,0651,0631,2321,596
Intangible assets, net (including goodwill)16,35917,57323,81819,25011,0356,0666,387
Goodwill13,33913,33913,33913,1708,4315,6125,612
Intangible assets, net (excluding goodwill)3,0204,23410,4796,0802,604454775
Restricted cash and investments      1,779
Deferred costs5326306416156909821,145
Deferred income tax assets  57
Other noncurrent assets52596149371,57450
Deferred tax assets, net5,4617,167  
Total noncurrent assets:18,98220,44027,73126,44019,9929,85410,957
TOTAL ASSETS:39,05139,19058,50961,44056,85553,65639,371
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities5,6434,9936,1858,7786,3935,9845,392
Accounts payable1,1795701,0971,3071,2519231,238
Accrued liabilities1,3581,2971,8712,6462,2762,4371,723
Employee-related liabilities1,4521,5051,8763,6492,8662,6242,431
Taxes payable1,6541,6211,3411,176   
Deferred revenue5,0295,2857,613
Debt1,8173,00618,4811,902   
Billings in excess of cost14,54321,444 
Contract with customer, liability10,609
Other liabilities1,8832,4981,234601,182716826
Other undisclosed current liabilities6675,6999219813,1343,24213,490
Total current liabilities:15,03921,48134,43422,33025,25231,38619,708
Noncurrent Liabilities
Long-term debt and lease obligation7906,8653,0006,610   
Long-term debt, excluding current maturities 5,034 6,610   
Operating lease, liability7901,8313,000
Liabilities, other than long-term debt1793399561,3711,9311,149210
Other liabilities1793399561,3711,9311,149210
Other undisclosed noncurrent liabilities      1,085
Total noncurrent liabilities:9697,2043,9567,9811,9311,1491,295
Total liabilities:16,00828,68538,39030,31127,18332,53521,003
Stockholders' equity
Stockholders' equity attributable to parent23,04310,50520,11931,12929,67221,12118,368
Common stock225222218214210204195
Treasury stock, value(2,999)(2,999)(2,999)(2,999)(2,999)(2,999)(2,999)
Additional paid in capital80,50579,68779,40078,11876,80275,12073,481
Accumulated other comprehensive loss(104)(1,214)(1,846)(1,635)(1,471)(1,777)(1,460)
Accumulated deficit(54,584)(65,191)(54,654)(42,569)(42,870)(49,427)(50,849)
Total stockholders' equity:23,04310,50520,11931,12929,67221,12118,368
TOTAL LIABILITIES AND EQUITY:39,05139,19058,50961,44056,85553,65639,371

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues55,18357,62082,97592,24970,88053,10156,803
Revenue, net  56,803
Cost of revenue(43,325)(42,835)(62,677)(69,119)(52,336)(37,857)(42,406)
Cost of goods and services sold(43,325)(42,835)(62,677)(69,119)   
Other undisclosed gross profit      (1,538)
Gross profit:11,85814,78520,29823,13018,54415,24412,859
Operating expenses(17,832)(24,323)(27,717)(21,764)(18,315)(13,669)(16,995)
Operating income (loss):(5,974)(9,538)(7,419)1,3662291,575(4,136)
Nonoperating income (expense)16,903(21)2,055(321)95112(186)
Investment income, nonoperating19(17)(13)(350)99(18)(40)
Other nonoperating income (expense)16,884(4)2,06829(4)130(146)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes (623)(988)(268)808588
Income (loss) from continuing operations before equity method investments, income taxes:10,929(10,182)(6,352)7774041,772(4,234)
Other undisclosed loss from continuing operations before income taxes(159)      
Income (loss) from continuing operations before income taxes:10,770(10,182)(6,352)7774041,772(4,234)
Income tax expense (benefit)(163)(355)(5,733)(1,131)4,980(350)(471)
Net income (loss) available to common stockholders, diluted:10,607(10,537)(12,085)(354)5,3841,422(4,705)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):10,607(10,537)(12,085)(354)5,3841,422(4,705)
Comprehensive income (loss):10,607(10,537)(12,085)(354)5,3841,422(4,705)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent1,110632(211)(164)306(317)(229)
Comprehensive income (loss), net of tax, attributable to parent:11,717(9,905)(12,296)(518)5,6901,105(4,934)

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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