Superior Drilling Products, Inc. (SDPI) financial statements (2022 and earlier)

Company profile

Business Address 1583 SOUTH 1700 EAST
VERNAL, UT 84078
State of Incorp. UT
Fiscal Year End December 31
SIC 3533 - Oil and Gas Field Machinery and Equipment (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
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,8221,9611,2174,2652,3752,242
Cash and cash equivalents2,8221,9611,2174,2652,3752,242
Receivables2,8721,3463,8512,2732,6671,039
Inventory, net of allowances, customer advances and progress billings1,1751,0209241,0041,1971,168
Inventory1,1751,0209241,0041,1971,168
Prepaid expense4369013913411276
Assets held-for-sale, not part of disposal group 40253  2,490
Other current assets5541252  14
Total current assets:7,3594,4986,6367,6756,3517,028
Noncurrent Assets
Operating lease, right-of-use asset21100 
Property, plant and equipment6,9307,5358,0468,2268,8099,068
Intangible assets, net (including goodwill)2368191,9863,6866,1338,579
Intangible assets, net (excluding goodwill)2368191,9863,6866,1338,579
Other noncurrent assets668794521616
Other undisclosed noncurrent assets    7,3678,297
Total noncurrent assets:7,2538,54210,12511,96422,32525,960
TOTAL ASSETS:14,61213,04016,76119,63928,67632,989
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,8131,6281,6451,3531,5651,516
Accounts payable1,1394309617211,0211,067
Accrued liabilities4671,092684632544449
Taxes payable206106    
Deferred revenue  61
Debt2,2611,3974,1034,5796,1023,123
Due to related parties     272
Other undisclosed current liabilities14141    
Total current liabilities:4,0883,1665,8095,9327,6674,911
Noncurrent Liabilities
Long-term debt and lease obligation4,3765,6503,8496,2976,70613,289
Long-term debt, excluding current maturities2571,4513,8496,2976,70613,289
Finance lease, liability4,1134,178 
Operating lease, liability721 
Liabilities, other than long-term debt     821
Other liabilities     821
Other undisclosed noncurrent liabilities(7)(21)    
Total noncurrent liabilities:4,3765,6503,8496,2976,70614,109
Total liabilities:8,4648,8169,65812,22914,37319,020
Stockholders' equity
Stockholders' equity attributable to parent6,1484,2247,1037,41014,30313,968
Common stock282625252524
Additional paid in capital43,07140,62040,06939,44138,90838,295
Accumulated deficit(36,952)(36,422)(32,992)(32,055)(24,630)(24,351)
Total stockholders' equity:6,1484,2247,1037,41014,30313,968
TOTAL LIABILITIES AND EQUITY:14,61213,04016,76119,63928,67632,989

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues13,33610,47118,99718,24515,5967,153
Revenue, net15,5967,153
Cost of revenue
(Cost of Goods and Services Sold)
(5,619)(5,106)(8,183)(7,077)(5,960)(4,492)
Gross profit:7,7175,36510,81411,1689,6352,661
Operating expenses(13,923)(14,293)(19,899)(17,945)(15,371)(15,399)
Other undisclosed operating income5,6195,1068,1837,0775,9604,492
Operating income (loss):(587)(3,823)(902)300225(8,246)
Nonoperating income (expense)168508(16)(355)(503)(885)
Investment income, nonoperating0661 347314
Other nonoperating income    44237
Interest and debt expense(539)(575)(765)(774)(906)(1,613)
Loss from continuing operations before equity method investments, income taxes:(958)(3,890)(1,683)(828)(1,185)(10,744)
Other undisclosed income from continuing operations before income taxes5395757657749061,613
Loss from continuing operations before income taxes:(419)(3,315)(918)(55)(279)(9,131)
Income tax expense (benefit)(111)(115)(19)(4) 2
Net loss available to common stockholders, diluted:(530)(3,430)(936)(58)(279)(9,129)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net loss:(530)(3,430)(936)(58)(279)(9,129)
Comprehensive loss, net of tax, attributable to parent:(530)(3,430)(936)(58)(279)(9,129)

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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