PetIQ, Inc. (PETQ) financial statements (2022 and earlier)

Company profile

Business Address PETIQ LLC
EAGLE, ID 83616
State of Incorp. DE
Fiscal Year End December 31
SIC 5122 - Drugs, Drug Proprietaries, and Druggists' Sundries (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
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments79,40633,45627,27266,36037,896
Cash and cash equivalents79,40633,45627,27266,36037,896
Receivables113,947102,75571,37745,00721,759
Inventory, net of allowances, customer advances and progress billings96,44097,77379,70392,14244,056
Inventory96,44097,77379,70392,14244,056
Prepaid expense    3,173
Other current assets8,8968,3127,0714,2121,991
Total current assets:298,689242,296185,423207,721108,875
Noncurrent Assets
Operating lease, right-of-use asset20,48920,12220,785
Property, plant and equipment76,61363,14652,52527,33515,000
Intangible assets, net (including goodwill)421,772444,158351,001213,5758,330
Goodwill231,110231,158231,045125,0295,064
Intangible assets, net (excluding goodwill)190,662213,000119,95688,5463,266
Restricted cash and investments    200
Deferred income tax assets  59,780
Other noncurrent assets2,0241,8703,2142,8572,446
Deferred tax assets, net43,9465,994
Total noncurrent assets:520,898529,296487,305287,71331,970
TOTAL ASSETS:819,587771,592672,728495,434140,845
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities83,25288,38964,57461,94516,465
Accounts payable55,05768,13151,53854,76814,234
Accrued liabilities11,6808,8153,8711,154305
Employee-related liabilities12,70410,5409,0825,2951,811
Interest and dividends payable3,81190383728115
Debt8,3504,9153,8212,251151
Other undisclosed current liabilities6,5007,7634,619 1,575
Total current liabilities:98,102101,06773,01464,19618,191
Noncurrent Liabilities
Long-term debt and lease obligation465,806375,106271,287109,73717,572
Long-term debt, excluding current maturities448,470355,979251,376107,41817,183
Finance lease, liability2,4933,3383,331
Capital lease obligations2,319389
Operating lease, liability14,84315,78916,580
Liabilities, other than long-term debt4591,397117524238
Other liabilities4591,397117524238
Total noncurrent liabilities:466,265376,503271,404110,26117,810
Total liabilities:564,367477,570344,418174,45736,001
Stockholders' equity
Stockholders' equity attributable to parent252,797262,379283,086256,45366,693
Additional paid in capital368,006356,442300,120262,21970,873
Accumulated other comprehensive loss(684)(686)(1,131)(1,316)(687)
Accumulated deficit(114,525)(93,377)(15,903)(4,450)(3,493)
Other undisclosed stockholders' equity2,42331,64345,22464,52438,151
Total stockholders' equity:255,220294,022328,310320,977104,844
TOTAL LIABILITIES AND EQUITY:819,587771,592672,728495,434140,845

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues932,528780,051709,431528,614266,687
Revenue, net266,687
Cost of revenue
(Cost of Goods and Services Sold)
(746,135)(644,863)(602,048)(445,326)(215,493)
Gross profit:186,393135,188107,38383,28851,194
Operating expenses(170,521)(138,375)(103,200)(72,260)(37,905)
Other undisclosed operating loss  (7,320)(3,280) 
Operating income (loss):15,872(3,187)(3,137)7,74813,289
Nonoperating income (expense)159109(151)45(1,502)
Foreign currency transaction gain (loss), before tax159109(151)45 
Other nonoperating expense    (1,502)
Interest and debt expense(5,453)(26,300)(14,495)(8,300)(163)
Income (loss) from continuing operations before equity method investments, income taxes:10,578(29,378)(17,783)(507)11,624
Other undisclosed income (loss) from continuing operations before income taxes(23,092)572172(67)163
Income (loss) from continuing operations before income taxes:(12,514)(28,806)(17,611)(574)11,787
Income tax expense (benefit)(3,869)(52,216)3,309661(3,970)
Net income (loss):(16,383)(81,022)(14,302)877,817
Net income (loss) attributable to noncontrolling interest4163,5482,849(869)(11,310)
Net loss available to common stockholders, diluted:(15,967)(77,474)(11,453)(782)(3,493)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(16,383)(81,022)(14,302)877,817
Other comprehensive income (loss)(65)363366(613) 
Other undisclosed comprehensive income    823
Comprehensive income (loss):(16,448)(80,659)(13,936)(526)8,640
Comprehensive income (loss), net of tax, attributable to noncontrolling interest4173,5252,777(697)(11,943)
Comprehensive loss, net of tax, attributable to parent:(16,031)(77,134)(11,159)(1,223)(3,303)

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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