RigNet, Inc. (RNET) Financial Statements (2024 and earlier)

Company Profile

Business Address 15115 PARK ROW BOULEVARD, SUITE 300
HOUSTON, TX 77084
State of Incorp. DE
Fiscal Year End December 31
Industry (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 investments12,94121,71134,59857,15260,46866,576
Cash and cash equivalents12,94121,71134,59857,15260,46866,576
Restricted cash and investments4241431395431,200
Receivables67,05967,45049,02148,67262,10574,625
Contract with customer, asset, after allowance for credit loss13,2757,138
Costs in excess of billings2,3932,382  
Other undisclosed current assets6,5006,7675,59110,37913,89921,253
Total current assets:99,817103,10791,646118,724137,015163,654
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization6,829
Property, plant and equipment60,11863,58560,34459,75772,54776,195
Intangible assets, net (including goodwill)76,93780,36467,49338,02637,03251,179
Goodwill46,79246,63137,08821,99818,05830,128
Intangible assets, net (excluding goodwill)30,14533,73330,40516,02818,97421,051
Restricted cash and investments 1,5221,5441,5001,514 62
Other noncurrent assets      127,374
Other undisclosed noncurrent assets5,75710,3259,11112,95111,522(118,627)
Total noncurrent assets:151,163155,818138,448112,248121,101136,183
TOTAL ASSETS:250,980258,925230,094230,972258,116299,837
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities47,82639,37329,92421,89229,88641,768
Taxes payable2,6492,4311,601 3,0914,978
Accounts payable28,51720,56812,2349,0576,84913,560
Accrued liabilities16,66016,37416,08912,83519,94623,230
Deferred revenue 
Debt10,7934,9424,9418,4788,4218,405
Liability for uncertainty in income taxes 16,100   22,800
Deferred revenue and credits 3,6254,6704,780
Other undisclosed current liabilities11,92340,5288,511877 (22,800)
Total current liabilities:70,542100,94343,37634,87242,97754,953
Noncurrent Liabilities
Long-term debt and lease obligation, including:96,93472,08553,17352,99069,23877,706
Long-term debt, excluding current maturities96,934  52,99069,23877,706
Capital lease obligations 211   
Finance lease, liability6,329
Other undisclosed long-term debt and lease obligation(12,658)72,08552,962   
Liabilities, other than long-term debt27,62628,94326,07930,53222,58825,087
Deferred revenue and credits546254359516
Deferred revenue855
Deferred tax liabilities, net  256220228
Deferred income tax liabilities 
Other liabilities26,77128,94325,53330,02222,00924,343
Operating lease, liability6,329
Other undisclosed noncurrent liabilities9,001970189   
Total noncurrent liabilities:133,561101,99879,44183,52291,826102,793
Total liabilities:204,103202,941122,817118,394134,803157,746
Equity
Equity, attributable to parent46,72355,924107,199112,403123,151141,929
Common stock201918181818
Treasury stock, value(2,693)(1,270)(116)   
Additional paid in capital184,571172,946155,829147,906143,012137,662
Accumulated other comprehensive loss(19,502)(19,254)(14,806)(17,971)(13,836)(6,682)
Retained earnings (accumulated deficit)(115,673)(96,517)(33,726)(17,550)(6,043)10,931
Equity, attributable to noncontrolling interest1546078175162162
Total equity:46,87755,984107,277112,578123,313142,091
TOTAL LIABILITIES AND EQUITY:250,980258,925230,094230,972258,116299,837

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
Revenues242,931238,854204,892220,623271,260330,174
Revenue, net204,892220,623271,260330,174
Cost of revenue(155,366)(146,755)(129,845)(130,156)(167,429)(188,209)
Cost of goods and services sold(149,753)  (129,759)(163,238)(188,209)
Gross profit:87,56592,09975,04790,467103,831141,965
Operating expenses(89,635)(153,194)(85,035)(92,918)(115,183)(109,756)
Other undisclosed operating income      1,875
Operating income (loss):(2,070)(61,095)(9,988)(2,451)(11,352)34,084
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(13)4133(313)(845)(516)
Interest and debt expense(5,958)(3,969)(2,870)(2,708)(2,054)(2,185)
Income (loss) from continuing operations before income taxes:(8,041)(65,060)(12,725)(5,472)(14,251)31,383
Income tax expense (benefit)(10,745)2,746(3,472)(5,825)(2,409)(15,400)
Income (loss) from continuing operations:(18,786)(62,314)(16,197)(11,297)(16,660)15,983
Income (loss) before gain (loss) on sale of properties:(18,786)(62,314)(16,197)(11,297)(16,660)15,983
Net income (loss):(18,786)(62,314)(16,197)(11,297)(16,660)15,983
Net income (loss) attributable to noncontrolling interest(370)(139)21(210)(314)(348)
Net income (loss) available to common stockholders, basic:(19,156)(62,453)(16,176)(11,507)(16,974)15,635
Dilutive securities, effect on basic earnings per share      578
Net income (loss) available to common stockholders, diluted:(19,156)(62,453)(16,176)(11,507)(16,974)16,213

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 income (loss):(18,786)(62,314)(16,197)(11,297)(16,660)15,983
Other undisclosed comprehensive income (loss)(248)(4,448)3,165(4,135)(7,154)(7,117)
Comprehensive income (loss):(19,034)(66,762)(13,032)(15,432)(23,814)8,866
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(370)(139)21(210)(314)(348)
Comprehensive income (loss), net of tax, attributable to parent:(19,404)(66,901)(13,011)(15,642)(24,128)8,518

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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