Superior Drilling Products, Inc. (SDPI) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
1583 SOUTH 1700 EAST VERNAL, UT 84078 |
| State of Incorp. | UT |
| Fiscal Year End | December 31 |
| Industry (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)
| 12/31/2023 | 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 investments | 2,158 | 2,822 | 1,961 | 1,217 | 4,265 | 2,375 | |||
| Cash and cash equivalents | 2,158 | 2,822 | 1,961 | 1,217 | 4,265 | 2,375 | |||
| Receivables | 3,241 | 2,872 | 1,346 | 3,851 | 2,273 | 2,667 | |||
| Inventory, net of allowances, customer advances and progress billings | 2,081 | 1,175 | 1,020 | 924 | 1,004 | 1,197 | |||
| Inventory | 2,081 | 1,175 | 1,020 | 924 | 1,004 | 1,197 | |||
| Prepaid expense | 368 | 436 | 90 | 139 | 134 | 112 | |||
| Asset, held-for-sale, not part of disposal group | 216 | 40 | 253 | ||||||
| Other current assets | 140 | 55 | 41 | 252 | |||||
| Total current assets: | 8,205 | 7,359 | 4,498 | 6,636 | 7,675 | 6,351 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 638 | 21 | 100 | ✕ | ✕ | ||||
| Property, plant and equipment | 8,577 | 6,930 | 7,535 | 8,046 | 8,226 | 8,809 | |||
| Long-term investments and receivables | 7,367 | ||||||||
| Due from related parties | ✕ | 7,367 | |||||||
| Intangible assets, net (including goodwill) | 69 | 236 | 819 | 1,986 | 3,686 | 6,133 | |||
| Intangible assets, net (excluding goodwill) | 69 | 236 | 819 | 1,986 | 3,686 | 6,133 | |||
| Deferred income tax assets | ✕ | ✕ | |||||||
| Other noncurrent assets | 112 | 66 | 87 | 94 | 52 | 16 | |||
| Other undisclosed noncurrent assets | 7,367 | ||||||||
| Total noncurrent assets: | 9,396 | 7,253 | 8,542 | 10,125 | 19,331 | 22,325 | |||
| TOTAL ASSETS: | 17,600 | 14,612 | 13,040 | 16,761 | 27,006 | 28,676 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 1,935 | 1,813 | 1,628 | 1,645 | 1,353 | 1,565 | |||
| Taxes payable | ✕ | ✕ | 206 | 106 | |||||
| Accounts payable | 1,044 | 1,139 | 430 | 961 | 721 | 1,021 | |||
| Accrued liabilities | 892 | 467 | 1,092 | 684 | 632 | 544 | |||
| Deferred revenue | 61 | ✕ | ✕ | ||||||
| Debt | 1,201 | 2,261 | 1,397 | 4,103 | 4,579 | 6,102 | |||
| Other liabilities | 216 | ||||||||
| Other undisclosed current liabilities | 396 | 14 | 141 | ||||||
| Total current liabilities: | 3,748 | 4,088 | 3,166 | 5,809 | 5,932 | 7,667 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 4,568 | 4,376 | 5,650 | 3,849 | 6,297 | 6,706 | |||
| Long-term debt, excluding current maturities | 529 | 257 | 1,451 | 3,849 | 6,297 | 6,706 | |||
| Finance lease, liability | 4,038 | 4,113 | 4,178 | ✕ | ✕ | ||||
| Liabilities, other than long-term debt | 1,198 | ||||||||
| Deferred revenue | 675 | ✕ | ✕ | ||||||
| Operating lease, liability | 523 | 7 | 21 | ✕ | ✕ | ||||
| Other undisclosed noncurrent liabilities | (7) | (21) | |||||||
| Total noncurrent liabilities: | 5,766 | 4,376 | 5,650 | 3,849 | 6,297 | 6,706 | |||
| Total liabilities: | 9,514 | 8,464 | 8,816 | 9,658 | 12,229 | 14,373 | |||
| Equity | |||||||||
| Equity, attributable to parent | 8,087 | 6,148 | 4,224 | 7,103 | 14,777 | 14,303 | |||
| Common stock | 29 | 28 | 26 | 25 | 25 | 25 | |||
| Additional paid in capital | 43,944 | 43,071 | 40,620 | 40,069 | 39,441 | 38,908 | |||
| Accumulated deficit | (35,886) | (36,952) | (36,422) | (32,992) | (24,688) | (24,630) | |||
| Total equity: | 8,087 | 6,148 | 4,224 | 7,103 | 14,777 | 14,303 | |||
| TOTAL LIABILITIES AND EQUITY: | 17,600 | 14,612 | 13,040 | 16,761 | 27,006 | 28,676 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 19,098 | 13,336 | 10,471 | 18,997 | 18,245 | 15,596 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 15,596 | |
| Cost of revenue (Cost of Goods and Services Sold) | (8,331) | (5,619) | (5,106) | (8,183) | (7,077) | (5,960) | ||
| Gross profit: | 10,767 | 7,717 | 5,365 | 10,814 | 11,168 | 9,635 | ||
| Operating expenses | (17,161) | (13,923) | (14,293) | (19,899) | (17,945) | (15,371) | ||
| Other undisclosed operating income | 8,331 | 5,619 | 5,106 | 8,183 | 7,077 | 5,960 | ||
| Operating income (loss): | 1,936 | (587) | (3,823) | (902) | 300 | 225 | ||
| Nonoperating income (expense) | (676) | 168 | 508 | (16) | (355) | (503) | ||
| Investment income, nonoperating | 27 | 0 | 6 | 61 | 378 | 347 | ||
| Interest and debt expense | (573) | (539) | (575) | (765) | (774) | (906) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | 688 | (958) | (3,890) | (1,683) | (828) | (1,185) | ||
| Other undisclosed income from continuing operations before income taxes | 573 | 539 | 575 | 765 | 774 | 906 | ||
| Income (loss) from continuing operations before income taxes: | 1,260 | (419) | (3,315) | (918) | (55) | (279) | ||
| Income tax expense (benefit) | (195) | (111) | (115) | (19) | (4) | |||
| Income (loss) from continuing operations: | 1,065 | (530) | (3,430) | (936) | (58) | (279) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | (530) | (3,430) | (936) | (58) | (279) | |
| Net income (loss) available to common stockholders, diluted: | 1,065 | (530) | (3,430) | (936) | (58) | (279) | ||
Comprehensive Income ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 1,065 | (530) | (3,430) | (936) | (58) | (279) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 1,065 | (530) | (3,430) | (936) | (58) | (279) | ||
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.