Ion Geophysical Corporation (IO) financial statements (2022 and earlier)

Company profile

Business Address 2105 CITYWEST BLVD
HOUSTON, TX 770422855
State of Incorp. DE
Fiscal Year End December 31
SIC 1382 - Oil and Gas Field Exploration Services (benchmarking)
More info Complete financial analysis Financial benchmarking

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

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments  33,06533,55152,05652,652
Cash and cash equivalents  33,06533,55152,05652,652
Restricted cash and investments  100300400800
Receivables  29,54826,12819,47820,770
Inventory, net of allowances, customer advances and progress billings  12,18714,13014,50815,241
Inventory  12,18714,13014,50815,241
Other undisclosed current assets  17,72751,51444,54722,174
Total current assets:  92,627125,623130,989111,637
Noncurrent Assets
Operating lease, right-of-use asset  32,546
Property, plant and equipment   13,04152,15367,488
Intangible assets, net (including goodwill)  23,58522,91525,75525,311
Goodwill  23,58522,91524,08922,208
Intangible assets, net (excluding goodwill)    1,6663,103
Deferred income tax assets  8,734
Other noncurrent assets  2,1302,4351,1192,845
Other undisclosed noncurrent assets  73,57280,73591,053105,935
Total noncurrent assets:  140,567119,126170,080201,579
TOTAL ASSETS:  233,194244,749301,069313,216
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities  79,64466,32463,64853,129
Accounts payable  49,31634,91324,95126,889
Accrued liabilities  30,32831,41138,69726,240
Deferred revenue  4,551
Debt  2,1072,22840,02414,581
Deferred revenue and credits8,9103,709
Other undisclosed current liabilities  29,88636,96627,03523,663
Total current liabilities:  116,188105,518139,61795,082
Noncurrent Liabilities
Long-term debt and lease obligation, including:  119,352119,513116,720144,209
Operating lease, liability  30,833
Other undisclosed long-term debt and lease obligation  88,519119,513116,720144,209
Liabilities, other than long-term debt  1,45311,89413,92620,527
Other liabilities  1,45311,89413,92620,527
Other undisclosed noncurrent liabilities  30,833   
Total noncurrent liabilities:  151,638131,407130,646164,736
Total liabilities:  267,826236,925270,263259,818
Stockholders' equity
Stockholders' equity attributable to parent  (36,820)6,23229,56752,889
Common stock  142140120118
Additional paid in capital  956,647952,626903,247899,198
Accumulated other comprehensive loss  (19,318)(20,442)(18,879)(21,748)
Accumulated deficit  (974,291)(926,092)(854,921)(824,679)
Stockholders' equity attributable to noncontrolling interest  2,1881,5921,239509
Total stockholders' equity:  (34,632)7,82430,80653,398
TOTAL LIABILITIES AND EQUITY:  233,194244,749301,069313,216

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

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues  174,679180,045197,554172,808
Revenue, net197,554172,808
Cost of revenue
(Cost of Goods and Services Sold)
  (114,657)(120,425)(121,915)(136,776)
Gross profit:  60,02259,62075,63936,032
Operating expenses  (84,481)(113,892)(84,338)(79,203)
Operating loss:  (24,459)(54,272)(8,699)(43,171)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
  (1,617)(436)(3,945)1,350
Interest and debt expense     (2,182)
Loss from continuing operations before equity method investments, income taxes:  (26,076)(54,708)(12,644)(44,003)
Other undisclosed loss from continuing operations before income taxes  (13,074)(12,972)(16,709)(16,303)
Loss from continuing operations before income taxes:  (39,150)(67,680)(29,353)(60,306)
Income tax expense  (8,064)(2,718)(24)(4,421)
Net loss:  (47,214)(70,398)(29,377)(64,727)
Net loss attributable to noncontrolling interest  (985)(773)(865)(421)
Net loss available to common stockholders, diluted:  (48,199)(71,171)(30,242)(65,148)

Comprehensive Income ($ in thousands)

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net loss:  (47,214)(70,398)(29,377)(64,727)
Other comprehensive income (loss)    2,869(6,967)
Other undisclosed comprehensive income (loss)  1,124(1,563)  
Comprehensive loss:  (46,090)(71,961)(26,508)(71,694)
Comprehensive loss, net of tax, attributable to noncontrolling interest  (985)(773)(865)(421)
Comprehensive loss, net of tax, attributable to parent:  (47,075)(72,734)(27,373)(72,115)

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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