Performant Financial Corporation (PFMT) Financial Statements (2024 and earlier)

Company Profile

Business Address 333 NORTH CANYONS PARKWAY
LIVERMORE, CA 94551
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 738 - Miscellaneous Business 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
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments23,38417,34716,0433,3735,46221,731
Cash and cash equivalents23,38417,34716,0433,3735,46221,731
Restricted cash and investments812,2032,2531,6221,8131,788
Receivables18,91723,96727,97427,33420,87912,494
Prepaid expense2,2001,7002,0001,100  
Contract with customer, asset, after allowance for credit loss11,4608,1134,4661,339 
Other undisclosed current assets1,4651,3771,7842,2293,59919,517
Total current assets:57,50754,70754,52036,99731,75355,530
Noncurrent Assets
Operating lease, right-of-use asset2,0573,2355,0436,834
Property, plant and equipment10,89715,70817,49718,76922,25520,944
Intangible assets, net (including goodwill)47,37247,37248,06175,29782,73286,436
Goodwill47,37247,37247,37274,37281,57281,572
Intangible assets, net (excluding goodwill)   6899251,1604,864
Other noncurrent assets1,000     
Other undisclosed noncurrent assets  9631,1069751,0191,526
Total noncurrent assets:61,32667,27871,707101,875106,006108,906
TOTAL ASSETS:118,833121,985126,227138,872137,759164,436
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3,0629,6009,2068,658  
Employee-related liabilities8,4768,7996,126  
Accounts payable1,2621,1244072,532  
Accrued liabilities1,800     
Deferred revenue43863486783
Debt983  6,0952,2242,029
Estimated litigation liability1,1061,1901,0141,018  
Business combination, contingent consideration, liability    62  
Other liabilities2,2523,7323,8413,514  
Other undisclosed current liabilities6,3662,35162,284 11,86341,051
Total current liabilities:14,20717,50777,21219,43014,08743,080
Noncurrent Liabilities
Long-term debt and lease obligation18,18420,8873,44263,54641,10538,555
Long-term debt, excluding current maturities18,18419,084 58,56241,10538,555
Liabilities, other than long-term debt1,9571,1683,5932,2713,3832,476
Deferred income tax liabilities    35
Other liabilities8811,1683,5041,7613,3832,476
Operating lease, liability1,0761,8033,4424,984
Business combination, contingent consideration, liability   89475  
Other undisclosed noncurrent liabilities     16,04543,080
Total noncurrent liabilities:20,14122,0557,03565,81760,53384,111
Total liabilities:34,34839,56284,24785,24774,620127,191
Equity
Equity, attributable to parent84,48582,42341,98053,62577,22680,325
Common stock775555
Additional paid in capital142,261133,66282,93380,58977,37072,459
Retained earnings (accumulated deficit)(57,783)(51,246)(40,958)(26,969)(149)7,861
Total equity:84,48582,42341,98053,62577,22680,325
Other undisclosed liabilities and equity     (14,087)(43,080)
TOTAL LIABILITIES AND EQUITY:118,833121,985126,227138,872137,759164,436

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues109,184124,393155,937150,432155,668132,049
Gross profit:109,184124,393155,937150,432155,668132,049
Operating expenses(116,084)(125,709)(169,902)(170,081)(157,465)(139,135)
Operating loss:(6,900)(1,316)(13,965)(19,649)(1,797)(7,086)
Nonoperating income
(Investment Income, Nonoperating)
  2141284
Interest and debt expense(1,007)(11,313)(7,227)(7,589)(4,699)(6,972)
Loss from continuing operations before equity method investments, income taxes:(7,907)(12,629)(21,171)(27,197)(6,468)(14,054)
Other undisclosed income from continuing operations before income taxes1,5022,403    
Loss from continuing operations before income taxes:(6,405)(10,226)(21,171)(27,197)(6,468)(14,054)
Income tax expense (benefit)(132)(62)7,182377(1,542)1,325
Loss from continuing operations:(6,537)(10,288)(13,989)(26,820)(8,010)(12,729)
Loss before gain (loss) on sale of properties:(10,288)(13,989)(26,820)(8,010)(12,729)
Net loss available to common stockholders, diluted:(6,537)(10,288)(13,989)(26,820)(8,010)(12,729)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net loss:(6,537)(10,288)(13,989)(26,820)(8,010)(12,729)
Comprehensive loss:(6,537)(10,288)(13,989)(26,820)(8,010)(12,729)
Other undisclosed comprehensive loss, net of tax, attributable to parent     (32)(3)
Comprehensive loss, net of tax, attributable to parent:(6,537)(10,288)(13,989)(26,820)(8,042)(12,732)

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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