Ion Geophysical Corporation (IO) Financial Statements (2024 and earlier)

Company Profile

Business Address 2105 CITYWEST BLVD
HOUSTON, TX 770422855
State of Incorp. DE
Fiscal Year End December 31
Industry (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
MRQ
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 investments 37,48633,06533,55152,05652,65284,933
Cash and cash equivalents 37,48633,06533,55152,05652,65284,933
Restricted cash and investments 2,300100300400800500
Receivables 8,04529,54826,12819,47820,77044,365
Inventory, net of allowances, customer advances and progress billings 11,26712,18714,13014,50815,24132,721
Inventory 11,26712,18714,13014,50815,24132,721
Contract with customer, asset, after allowance for credit loss 11,262  
Other undisclosed current assets 4,81617,72751,51444,54722,17434,244
Total current assets: 75,17692,627125,623130,989111,637196,763
Noncurrent Assets
Operating lease, right-of-use asset 35,50132,546
Property, plant and equipment   13,04152,15367,48872,027
Intangible assets, net (including goodwill) 19,56523,58522,91525,75525,31131,084
Goodwill 19,56523,58522,91524,08922,20826,274
Intangible assets, net (excluding goodwill)    1,6663,1034,810
Deferred income tax assets  8,734
Other noncurrent assets 2,9262,1302,4351,1192,8456,305
Other undisclosed noncurrent assets 60,42573,57280,73591,053105,935132,237
Total noncurrent assets: 118,417140,567119,126170,080201,579241,653
TOTAL ASSETS: 193,593233,194244,749301,069313,216438,416
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 49,78179,64466,32463,64853,12964,086
Accounts payable 33,41849,31634,91324,95126,88929,799
Accrued liabilities 16,36330,32831,41138,69726,24034,287
Deferred revenue 3,6484,551
Debt 143,7312,1072,22840,02414,5817,912
Deferred revenue and credits8,9103,7096,560
Other undisclosed current liabilities 28,92929,88636,96627,03523,66325,045
Total current liabilities: 226,089116,188105,518139,61795,082103,603
Noncurrent Liabilities
Long-term debt and lease obligation, including: 38,372119,352119,513116,720144,209178,408
Other undisclosed long-term debt and lease obligation  88,519119,513116,720144,209178,408
Liabilities, other than long-term debt 2221,45311,89413,92620,52744,365
Other liabilities 2221,45311,89413,92620,52744,365
Operating lease, liability 38,37230,833
Other undisclosed noncurrent liabilities  30,833    
Total noncurrent liabilities: 38,594151,638131,407130,646164,736222,773
Total liabilities: 264,683267,826236,925270,263259,818326,376
Equity
Equity, attributable to parent (72,702)(36,820)6,23229,56752,889111,959
Common stock 143142140120118107
Treasury stock, value      (8,551)
Additional paid in capital 958,584956,647952,626903,247899,198894,715
Accumulated other comprehensive loss (19,913)(19,318)(20,442)(18,879)(21,748)(14,781)
Accumulated deficit (1,011,516)(974,291)(926,092)(854,921)(824,679)(759,531)
Equity, attributable to noncontrolling interest 1,6122,1881,5921,23950981
Total equity: (71,090)(34,632)7,82430,80653,398112,040
TOTAL LIABILITIES AND EQUITY: 193,593233,194244,749301,069313,216438,416

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
12/31/2015
Revenues 122,674174,679180,045197,554172,808221,513
Revenue, net197,554172,808221,513
Cost of revenue (2,791)(114,657)(120,425)(121,915)(136,776)(213,510)
Cost of goods and services sold (378)(114,657)(120,425)(121,915)(136,776)(213,510)
Provision for loan, lease, and other losses (2,413)  
Other undisclosed gross profit (78,226)     
Gross profit: 41,65760,02259,62075,63936,0328,003
Operating expenses (56,246)(84,481)(113,892)(84,338)(79,203)(108,635)
Operating loss: (14,589)(24,459)(54,272)(8,699)(43,171)(100,632)
Nonoperating income (expense) 6,898(1,617)(436)(3,945)1,35098,275
Loss, foreign currency transaction, before tax (1,600)     
Other nonoperating income (expense)  (1,617)(436)(3,945)1,35098,275
Interest and debt expense     (2,182) 
Loss from continuing operations before equity method investments, income taxes: (7,691)(26,076)(54,708)(12,644)(44,003)(2,357)
Other undisclosed loss from continuing operations before income taxes (13,805)(13,074)(12,972)(16,709)(16,303)(18,753)
Loss from continuing operations before income taxes: (21,496)(39,150)(67,680)(29,353)(60,306)(21,110)
Income tax expense (15,616)(8,064)(2,718)(24)(4,421)(4,044)
Loss from continuing operations: (37,112)(47,214)(70,398)(29,377)(64,727)(25,154)
Loss before gain (loss) on sale of properties:(37,112)(47,214)(70,398)(29,377)(64,727)(25,154)
Net loss: (37,112)(47,214)(70,398)(29,377)(64,727)(25,154)
Net income (loss) attributable to noncontrolling interest (113)(985)(773)(865)(421)32
Net loss available to common stockholders, diluted: (37,225)(48,199)(71,171)(30,242)(65,148)(25,122)

Comprehensive Income ($ in thousands)

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net loss: (37,112)(47,214)(70,398)(29,377)(64,727)(25,154)
Other comprehensive income (loss) (1,067)  2,869(6,967)(1,974)
Other undisclosed comprehensive income (loss)  1,124(1,563)   
Comprehensive loss: (38,179)(46,090)(71,961)(26,508)(71,694)(27,128)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest 359(985)(773)(865)(421)32
Comprehensive loss, net of tax, attributable to parent: (37,820)(47,075)(72,734)(27,373)(72,115)(27,096)

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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