Akerna Corp. (KERN) Financial Statements (2024 and earlier)

Company Profile

Business Address 1550 LARIMER STREET, SUITE 246
DENVER, CO 80202
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 6199 - Finance Services (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
6/30/2020
6/30/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments87813,93424,15621,867
Cash and cash equivalents87813,93424,15621,867
Restricted cash and investments 7,000508  
Receivables6751,4041,8621,578
Prepaid expense1,2102,3841,215578
Asset, held-for-sale, not part of disposal group 5,130   
Other undisclosed current assets  500500
Total current assets:14,89218,23027,73324,523
Noncurrent Assets
Property, plant and equipment49153131 
Long-term investments and receivables  226  
Long-term investments  226  
Intangible assets, net (including goodwill)3,87368,55227,748 
Goodwill1,70846,94320,254 
Intangible assets, net (excluding goodwill)2,16521,6107,494 
Other noncurrent assets  1042 
Other undisclosed noncurrent assets6557,3122,876 
Total noncurrent assets:4,57676,25330,797 
TOTAL ASSETS:19,46894,48358,53024,523
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:4,4266,0644,8622,033
Settlement liabilities681  
Taxes payable36060 
Employee-related liabilities1,123388215
Accounts payable1,5101,9431,4441,318
Accrued liabilities2,3536662,316501
Other undisclosed accounts payable and accrued liabilities5631,289654 
Deferred revenue5693,544369
Debt13,20013,2006,135 
Derivative instruments and hedges, liabilities  63  
Business combination, contingent consideration, liability 2,2846,300  
Other undisclosed current liabilities 2,246 389409
Total current liabilities:22,72529,17111,7552,443
Noncurrent Liabilities
Long-term debt and lease obligation1,4074,1052,040 
Long-term debt, excluding current maturities1,4074,1052,040 
Liabilities, other than long-term debt 1621,258  
Deferred revenue 162583 
Derivative instruments and hedges, liabilities  675  
Other undisclosed noncurrent liabilities   8,160 
Total noncurrent liabilities:1,5695,36310,200 
Total liabilities:24,29434,53321,9552,443
Equity
Equity, attributable to parent, including:(4,826)59,95031,87022,080
Common stock0311
Additional paid in capital160,207146,02772,90747,325
Accumulated other comprehensive income3476263 
Accumulated deficit(167,566)(88,508)(41,101)(25,246)
Other undisclosed equity, attributable to parent2,1852,366  
Equity, attributable to noncontrolling interest   4,704 
Total equity:(4,826)59,95036,57422,080
TOTAL LIABILITIES AND EQUITY:19,46894,48358,53024,523

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

9/30/2023
TTM
12/31/2022
12/31/2021
6/30/2020
6/30/2019
Revenues13,64520,68512,57310,920
Cost of revenue(5,412)(8,119)(6,210)(4,634)
Gross profit:8,23312,5656,3646,286
Operating expenses(63,678)(45,921)(23,635)(18,702)
Operating loss:(55,446)(33,355)(17,272)(12,416)
Nonoperating income (expense)(3,896)(228)922109
Other nonoperating income (expense)(221)186(0)18
Interest and debt expense  186(1,177)91
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes  (186)1,177 
Loss from continuing operations before equity method investments, income taxes:(59,342)(33,583)(16,349)(12,215)
Income (loss) from equity method investments (8)(4) 
Loss from continuing operations before income taxes:(59,342)(33,591)(16,353)(12,215)
Income tax expense (benefit)7162,262(31) 
Loss from continuing operations:(58,625)(31,329)(16,384)(12,215)
Loss before gain (loss) on sale of properties:(31,329)(16,384)(12,215)
Loss from discontinued operations (20,432)   
Other undisclosed net loss   (91)
Net loss:(79,058)(31,329)(16,384)(12,307)
Net income attributable to noncontrolling interest   850 
Net loss attributable to parent:(79,058)(31,329)(15,534)(12,307)
Preferred stock dividends and other adjustments (956)   
Other undisclosed net loss available to common stockholders, basic    
Net loss available to common stockholders, diluted:(80,013)(31,329)(15,534)(12,307)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
6/30/2020
6/30/2019
Net loss:(79,058)(31,329)(16,384)(12,307)
Other undisclosed comprehensive income28615363 
Comprehensive loss:(78,772)(31,176)(16,321)(12,307)
Comprehensive income, net of tax, attributable to noncontrolling interest   850 
Other undisclosed comprehensive loss, net of tax, attributable to parent    
Comprehensive loss, net of tax, attributable to parent:(78,772)(31,176)(15,471)(12,307)

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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