Legacy Education Alliance, Inc. (LEAI) financial statements (2022 and earlier)

Company profile

Business Address 1612 CAPE CORAL PARKWAY EAST
CAPE CORAL, FL 33904
State of Incorp. NV
Fiscal Year End December 31
SIC 82 - Educational Services (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 investments5761,5143,8391,5576,0051,7114,881
Cash and cash equivalents5761,5143,8391,5576,0051,7114,881
Restricted cash and investments 1,1802,3895,0802,8993,1482,946
Receivables292      
Inventory, net of allowances, customer advances and progress billings1104789330348492
Inventory1104789330348492
Prepaid expense      200
Deferred costs3041,9736,8058,5479,4179,0679,211
Disposal group, including discontinued operation33      
Other undisclosed current assets6561,5782,0743,1326,4083,4581,969
Total current assets:1,8626,25515,15418,40525,05917,73219,699
Noncurrent Assets
Operating lease, right-of-use asset2045122
Property, plant and equipment 4 1,8801,1871,1301,226
Disposal group, including discontinued operation, noncurrent assets33      
Other noncurrent assets640413178333207200
Other undisclosed noncurrent assets  1,669974411,295 
Total noncurrent assets:59892,2042,1551,9612,6321,426
TOTAL ASSETS:1,9216,34417,35820,56027,02020,36421,125
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,9983,2023,3467,1936,1955,2664,935
Accounts payable2,5442,8522,3114,9622,8603,3442,451
Accrued liabilities2522775761,4831,8291,0821,226
Employee-related liabilities202734597481,5068401,258
Deferred revenue4,43815,795 
Debt1421,9001,0861,024   
Liability for uncertainty in income taxes300  1,6001,6001,6001,700
Disposal group, including discontinued operation9,845 4,499    
Deferred revenue and credits57,15154,38960,698
Other undisclosed current liabilities2,9556,90947,76358,0651,029638845
Total current liabilities:20,67827,80656,69467,88265,97561,89368,178
Noncurrent Liabilities
Long-term debt and lease obligation, including:1,93332278203142
Long-term debt, excluding current maturities1,933120 8203142
Operating lease, liability 2027
Other undisclosed long-term debt and lease obligation (108)     
Liabilities, other than long-term debt1,493443 1,3311,790614116
Deferred revenue and credits60223571
Deferred income tax liabilities1,493134 
Liability for uncertainty in income taxes 309     
Other liabilities   1,3311,18837945
Other undisclosed noncurrent liabilities 1,699     
Total noncurrent liabilities:3,4262,174271,3391,810645158
Total liabilities:24,10429,98056,72169,22167,78562,53868,336
Stockholders' equity
Stockholders' equity attributable to parent(22,183)(23,636)(39,363)(48,661)(40,765)(42,174)(47,211)
Common stock3222222
Additional paid in capital13,16111,56411,55211,47011,29911,07310,905
Accumulated other comprehensive income (loss)8374167101,444(445)2,6681,680
Accumulated deficit(36,184)(35,618)(51,627)(61,577)(51,621)(55,917)(59,798)
Total stockholders' equity:(22,183)(23,636)(39,363)(48,661)(40,765)(42,174)(47,211)
TOTAL LIABILITIES AND EQUITY:1,9216,34417,35820,56027,02020,36421,125

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
Revenues7,71034,16175,49693,40997,73089,19687,161
Cost of revenue
(Cost of Goods and Services Sold)
(2,294)(7,913)(39,854)(55,800)(53,972)(47,843)(48,201)
Other undisclosed gross profit(1,636)(2,254)(20,128)(27,438)(24,536)(23,825)(25,739)
Gross profit:3,78023,99415,51410,17119,22217,52813,221
Operating expenses(8,125)(15,627)(73,852)(102,488)(95,916)(86,723)(90,257)
Other undisclosed operating income3,93010,16759,98283,23878,50871,66873,940
Operating income (loss):(415)18,5341,644(9,079)1,8142,473(3,096)
Nonoperating income (expense)3941,433440(408)4,471467385
Other nonoperating income (expense)81,643533(368)4,480472392
Interest and debt expense910  (40)(9)(5)(7)
Income (loss) from continuing operations before equity method investments, income taxes:88919,9672,084(9,527)6,2762,935(2,718)
Other undisclosed income (loss) from continuing operations before income taxes(910)  40957
Income (loss) from continuing operations before income taxes:(21)19,9672,084(9,487)6,2852,940(2,711)
Income tax expense (benefit)(716)(3,958)1,257(469)(1,989)941(15)
Income (loss) from continuing operations:(737)16,0093,341(9,956)4,2963,881(2,726)
Income from discontinued operations171      
Net income (loss):(566)16,0093,341(9,956)4,2963,881(2,726)
Other undisclosed net income attributable to parent  6,609    
Net income (loss) attributable to parent:(566)16,0099,950(9,956)4,2963,881(2,726)
Other undisclosed net loss available to common stockholders, basic (106)(6,670) (253)(182) 
Net income (loss) available to common stockholders, basic:(566)15,9033,280(9,956)4,0433,699(2,726)
Dilutive securities, effect on basic earnings per share(566)16,0083,339 253182 
Net income (loss) available to common stockholders, diluted:(1,132)31,9116,619(9,956)4,2963,881(2,726)

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):(566)16,0093,341(9,956)4,2963,881(2,726)
Comprehensive income (loss):(566)16,0093,341(9,956)4,2963,881(2,726)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent421(294)5,8751,889(3,113)9881,310
Comprehensive income (loss), net of tax, attributable to parent:(145)15,7159,216(8,067)1,1834,869(1,416)

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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