ORBCOMM Inc. (ORBC) financial statements (2022 and earlier)

Company profile

Business Address 395 W PASSAIC STREET, SUITE 325
ROCHELLE PARK, NJ 07662
State of Incorp. DE
Fiscal Year End December 31
SIC 4899 - Communications Services, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments40,38454,25853,76634,83025,02327,07791,565
Cash and cash equivalents40,38454,25853,76634,83025,02327,07791,565
Restricted cash and investments     1,000 
Receivables51,19960,59557,66546,90031,93729,81623,194
Inventory, net of allowances, customer advances and progress billings29,98739,88134,30042,43723,21720,71211,650
Inventory29,98739,88134,30042,43723,21720,71211,650
Other undisclosed current assets14,59218,00315,55318,6928,0316,154126,147
Total current assets:136,162172,737161,284142,85988,20884,759252,556
Noncurrent Assets
Property, plant and equipment127,537145,553160,070174,178215,841229,970180,621
Intangible assets, net (including goodwill)226,688239,409252,393266,017196,578205,59766,204
Goodwill166,129166,129166,129166,678114,033112,42539,870
Intangible assets, net (excluding goodwill)60,55973,28086,26499,33982,54593,17226,334
Restricted cash and investments      1,195
Deferred income tax assets258 
Other noncurrent assets20,20023,14912,60312,0365,4476,5735,921
Deferred tax assets, net10910480 1,827
Other undisclosed noncurrent assets 132    (1,776)
Total noncurrent assets:374,683408,243425,175452,335417,946442,140253,992
TOTAL ASSETS:510,845580,980586,459595,194506,154526,899506,548
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities46,23053,67351,26262,31442,91238,08135,077
Accounts payable14,32316,72215,52729,29812,48113,8958,750
Accrued liabilities31,90736,95135,73533,01630,43124,18620,336
Employee-related liabilities      4,453
Taxes payable      455
Interest and dividends payable      1,083
Deferred revenue5,2383,865
Debt10,000      
Deferred revenue and credits6,2637,4147,6523,525
Contract with customer, liability5,954
Other undisclosed current liabilities      (5,991)
Total current liabilities:61,46857,53857,21668,57750,32645,73332,611
Noncurrent Liabilities
Long-term debt and lease obligation206,897246,683245,907245,131147,458150,000150,000
Long-term debt, excluding current maturities206,897246,683245,907245,131147,458150,000150,000
Liabilities, other than long-term debt33,06524,34925,47835,09026,50231,41015,428
Deferred revenue and credits2,4592,9786,0242,579
Deferred revenue4,1586,771
Contract with customer, liability5,471
Deferred tax liabilities, net16,10917,64618,64518,4405,696
Deferred income tax liabilities13,413 
Due to related parties1,4001,2751,2981,3661,1951,2411,389
Other liabilities14,09416,3032,60013,6193,6845,7055,764
Other undisclosed noncurrent liabilities 14,894     
Total noncurrent liabilities:239,962285,926271,385280,221173,960181,410165,428
Total liabilities:301,430343,464328,601348,798224,286227,143198,039
Stockholders' equity
Stockholders' equity attributable to parent, including:207,950236,210256,832245,663281,221299,393308,460
Treasury stock, value  (96)(96)(96)(96)(96)
Additional paid in capital451,327447,681449,343411,298386,920381,659376,297
Accumulated other comprehensive income (loss)1,021(1,013)(381)256(1,089)(1,174)(583)
Accumulated deficit(244,882)(210,942)(192,507)(166,245)(104,949)(81,424)(68,137)
Other undisclosed stockholders' equity attributable to parent484484473450435428979
Stockholders' equity attributable to noncontrolling interest1,4651,3061,02673364736349
Total stockholders' equity:209,415237,516257,858246,396281,868299,756308,509
TOTAL LIABILITIES AND EQUITY:510,845580,980586,459595,194506,154526,899506,548

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues248,466272,013276,140254,220186,744178,29396,242
Revenue, net254,220186,744178,29396,242
Cost of revenue
(Cost of Goods and Services Sold)
   (150,188)(92,950)(90,522)(48,684)
Gross profit:248,466272,013276,140104,03293,79487,77147,558
Operating expenses(120,912)(120,292)(116,672)(101,434)(89,718)(70,966)(39,477)
Other undisclosed operating loss(127,894)(146,149)(161,657)(43,480)(18,562)(24,020)(9,687)
Operating income (loss):(340)5,572(2,189)(40,882)(14,486)(7,215)(1,606)
Nonoperating expense(31,829)(19,321)(19,092)(20,722)(8,223)(4,559)(2,511)
Interest and debt expense(2,942)(21,149)(21,055)(3,868)(9,085)(5,242)(2,798)
Other undisclosed income from continuing operations before equity method investments, income taxes2,94221,14921,0553,8689,0855,2422,798
Loss from continuing operations before income taxes:(32,169)(13,749)(21,281)(61,604)(22,709)(11,774)(4,117)
Income tax expense (benefit)(1,656)(4,383)(4,658)409(517)(1,225)(408)
Net loss:(33,825)(18,132)(25,939)(61,195)(23,226)(12,999)(4,525)
Net loss attributable to noncontrolling interest(115)(291)(305)(89)(285)(252)(159)
Net loss attributable to parent:(33,940)(18,423)(26,244)(61,284)(23,511)(13,251)(4,684)
Preferred stock dividends and other adjustments (12)(18)(12)(14)(36)(37)
Net loss available to common stockholders, diluted:(33,940)(18,435)(26,262)(61,296)(23,525)(13,287)(4,721)

Comprehensive Income ($ in thousands)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net loss:(33,825)(18,132)(25,939)(61,195)(23,226)(12,999)(4,525)
Other comprehensive income (loss)2,078(643)(649)1,34284(529)(728)
Comprehensive loss:(31,747)(18,775)(26,588)(59,853)(23,142)(13,528)(5,253)
Comprehensive loss, net of tax, attributable to noncontrolling interest(159)(280)(293)(86)(284)(314)(248)
Comprehensive loss, net of tax, attributable to parent:(31,906)(19,055)(26,881)(59,939)(23,426)(13,842)(5,501)

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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