Legacy Education Alliance, Inc. (LEAI) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
1612 CAPE CORAL PARKWAY EAST CAPE CORAL, FL 33904 |
| State of Incorp. | NV |
| Fiscal Year End | December 31 |
| Industry (SIC) | 82 - Educational Services (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 112 | 576 | 1,514 | 3,839 | 1,557 | 6,005 | |||
| Cash and cash equivalents | 112 | 576 | 1,514 | 3,839 | 1,557 | 6,005 | |||
| Restricted cash and investments | 111 | 1,180 | 2,389 | 5,080 | 2,899 | ||||
| Receivables | 292 | ||||||||
| Inventory, net of allowances, customer advances and progress billings | 1 | 1 | 10 | 47 | 89 | 330 | |||
| Inventory | 1 | 1 | 10 | 47 | 89 | 330 | |||
| Deferred costs | 163 | 304 | 1,973 | 6,805 | 8,547 | 9,417 | |||
| Disposal group, including discontinued operation | 33 | ||||||||
| Other undisclosed current assets | 342 | 656 | 1,578 | 2,074 | 3,132 | 6,408 | |||
| Total current assets: | 729 | 1,862 | 6,255 | 15,154 | 18,405 | 25,059 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 113 | 20 | 45 | 122 | ✕ | ✕ | |||
| Property, plant and equipment | 4 | 1,880 | 1,187 | ||||||
| Disposal group, including discontinued operation, noncurrent assets | 32 | 33 | |||||||
| Other noncurrent assets | 6 | 6 | 40 | 413 | 178 | 333 | |||
| Other undisclosed noncurrent assets | 1,669 | 97 | 441 | ||||||
| Total noncurrent assets: | 151 | 59 | 89 | 2,204 | 2,155 | 1,961 | |||
| TOTAL ASSETS: | 880 | 1,921 | 6,344 | 17,358 | 20,560 | 27,020 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 2,814 | 2,998 | 3,202 | 3,346 | 7,193 | 6,195 | |||
| Employee-related liabilities | ✕ | ✕ | 202 | 73 | 459 | 748 | 1,506 | ||
| Accounts payable | 2,577 | 2,544 | 2,852 | 2,311 | 4,962 | 2,860 | |||
| Accrued liabilities | 237 | 252 | 277 | 576 | 1,483 | 1,829 | |||
| Deferred revenue | 3,470 | 4,438 | 15,795 | ✕ | ✕ | ||||
| Debt | 3,613 | 142 | 1,900 | 1,086 | 1,024 | ||||
| Liability for uncertainty in income taxes | 300 | 1,600 | 1,600 | ||||||
| Disposal group, including discontinued operation | 9,243 | 9,845 | 4,499 | ||||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 57,151 | ||
| Other undisclosed current liabilities | 3,312 | 2,955 | 6,909 | 47,763 | 58,065 | 1,029 | |||
| Total current liabilities: | 22,452 | 20,678 | 27,806 | 56,694 | 67,882 | 65,975 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 558 | 1,933 | 32 | 27 | 8 | 20 | |||
| Long-term debt, excluding current maturities | 558 | 1,933 | 120 | 8 | 20 | ||||
| Other undisclosed long-term debt and lease obligation | (108) | ||||||||
| Liabilities, other than long-term debt | 842 | 1,493 | 443 | 1,331 | 1,790 | ||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 602 | ||
| Deferred income tax liabilities | 796 | 1,493 | 134 | ✕ | ✕ | ||||
| Liability for uncertainty in income taxes | 309 | ||||||||
| Other liabilities | 1,331 | 1,188 | |||||||
| Operating lease, liability | 46 | 20 | 27 | ✕ | ✕ | ||||
| Other undisclosed noncurrent liabilities | 1,699 | ||||||||
| Total noncurrent liabilities: | 1,400 | 3,426 | 2,174 | 27 | 1,339 | 1,810 | |||
| Total liabilities: | 23,852 | 24,104 | 29,980 | 56,721 | 69,221 | 67,785 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | (22,972) | (22,183) | (23,636) | (39,363) | (48,661) | (40,765) | |||
| Common stock | 3 | 3 | 2 | 2 | 2 | 2 | |||
| Additional paid in capital | 13,217 | 13,161 | 11,564 | 11,552 | 11,470 | 11,299 | |||
| Accumulated other comprehensive income (loss) | 1,593 | 837 | 416 | 710 | 1,444 | (445) | |||
| Accumulated deficit | (37,695) | (36,184) | (35,618) | (51,627) | (61,577) | (51,621) | |||
| Other undisclosed equity, attributable to parent | (90) | ||||||||
| Equity, attributable to noncontrolling interest | (91) | ||||||||
| Other undisclosed equity | 90 | ||||||||
| Total equity: | (22,973) | (22,183) | (23,636) | (39,363) | (48,661) | (40,765) | |||
| Other undisclosed liabilities and equity | 1 | ||||||||
| TOTAL LIABILITIES AND EQUITY: | 880 | 1,921 | 6,344 | 17,358 | 20,560 | 27,020 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,084 | 7,710 | 34,161 | 75,496 | 93,409 | 97,730 | ||
| Cost of revenue (Cost of Goods and Services Sold) | (456) | (2,294) | (7,913) | (39,854) | (55,800) | (53,972) | ||
| Other undisclosed gross profit | (222) | (1,636) | (2,254) | (20,128) | (27,438) | (24,536) | ||
| Gross profit: | 406 | 3,780 | 23,994 | 15,514 | 10,171 | 19,222 | ||
| Operating expenses | (3,326) | (8,125) | (15,627) | (73,852) | (102,488) | (95,916) | ||
| Other undisclosed operating income | 678 | 3,930 | 10,167 | 59,982 | 83,238 | 78,508 | ||
| Operating income (loss): | (2,242) | (415) | 18,534 | 1,644 | (9,079) | 1,814 | ||
| Nonoperating income (expense) | 698 | 394 | 1,433 | 440 | (408) | 4,471 | ||
| Other nonoperating income (expense) | 3 | 8 | 1,643 | 533 | (368) | 4,480 | ||
| Interest and debt expense | 1,148 | 910 | (40) | (9) | ||||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (1,147) | |||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (1,543) | 889 | 19,967 | 2,084 | (9,527) | 6,276 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (1) | (910) | 40 | 9 | ||||
| Income (loss) from continuing operations before income taxes: | (1,544) | (21) | 19,967 | 2,084 | (9,487) | 6,285 | ||
| Income tax expense (benefit) | (58) | (716) | (3,958) | 1,257 | (469) | (1,989) | ||
| Income (loss) from continuing operations: | (1,602) | (737) | 16,009 | 3,341 | (9,956) | 4,296 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | (566) | 16,009 | 3,341 | (9,956) | 4,296 | ||
| Income from discontinued operations | 171 | |||||||
| Net income (loss): | (1,602) | (566) | 16,009 | 3,341 | (9,956) | 4,296 | ||
| Net income attributable to noncontrolling interest | 91 | |||||||
| Other undisclosed net income attributable to parent | 6,609 | |||||||
| Net income (loss) attributable to parent: | (1,511) | (566) | 16,009 | 9,950 | (9,956) | 4,296 | ||
| Other undisclosed net loss available to common stockholders, basic | (106) | (6,670) | (253) | |||||
| Net income (loss) available to common stockholders, basic: | (1,511) | (566) | 15,903 | 3,280 | (9,956) | 4,043 | ||
| Dilutive securities, effect on basic earnings per share | (566) | 16,008 | 3,339 | 253 | ||||
| Net income (loss) available to common stockholders, diluted: | (1,511) | (1,132) | 31,911 | 6,619 | (9,956) | 4,296 | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (1,602) | (566) | 16,009 | 3,341 | (9,956) | 4,296 | ||
| Comprehensive income (loss): | (1,602) | (566) | 16,009 | 3,341 | (9,956) | 4,296 | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 91 | |||||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 756 | 421 | (294) | 5,875 | 1,889 | (3,113) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (755) | (145) | 15,715 | 9,216 | (8,067) | 1,183 | ||
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.