Surgalign Holdings, Inc. (SRGA) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
520 LAKE COOK ROAD, SUITE 315 DEERFIELD, IL 60015 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3842 - Orthopedic, Prosthetic, and Surgical Appliances and Supplies (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 3/31/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Current Assets | ||||||||
| Cash, cash equivalents, and short-term investments | 16,295 | 51,287 | 43,962 | 5,608 | 10,949 | |||
| Cash and cash equivalents | 16,295 | 51,287 | 43,962 | 5,608 | 10,949 | |||
| Receivables | 17,015 | 24,813 | 31,931 | 62,091 | 52,016 | |||
| Inventory, net of allowances, customer advances and progress billings | 17,710 | 26,204 | 22,841 | 124,149 | 107,655 | |||
| Inventory | 17,710 | 26,204 | 22,841 | 124,149 | 107,655 | |||
| Prepaid expense | 941 | 2,553 | 1,543 | 1,865 | 2,013 | |||
| Other current assets | 110 | 2,101 | 2,480 | |||||
| Other undisclosed current assets | 4,750 | 815 | 3,795 | |||||
| Total current assets: | 56,711 | 105,672 | 104,182 | 195,814 | 175,113 | |||
| Noncurrent Assets | ||||||||
| Inventory, Noncurrent | 5,947 | 10,212 | 7,856 | 6,637 | ||||
| Property, plant and equipment | 2,057 | 945 | 521 | 69,890 | 77,954 | |||
| Intangible assets, net (including goodwill) | 65,876 | 85,355 | ||||||
| Goodwill | 55,384 | 59,798 | ||||||
| Intangible assets, net (excluding goodwill) | 10,492 | 25,557 | ||||||
| Other noncurrent assets | 5,527 | 6,970 | 10,145 | 6,292 | 4,003 | |||
| Other undisclosed noncurrent assets | 17,760 | |||||||
| Total noncurrent assets: | 13,531 | 18,127 | 18,522 | 148,695 | 185,072 | |||
| TOTAL ASSETS: | 70,242 | 123,799 | 122,704 | 344,509 | 360,185 | |||
| LIABILITIES AND EQUITY | ||||||||
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued liabilities, including: | 20,900 | 28,457 | 46,823 | 63,463 | 52,084 | |||
| Taxes payable | ✕ | ✕ | 484 | 11,761 | ||||
| Accounts payable | 7,705 | 10,204 | 13,418 | 30,126 | 26,219 | |||
| Accrued liabilities | 13,146 | 17,769 | 21,644 | 33,337 | 25,865 | |||
| Other undisclosed accounts payable and accrued liabilities | 49 | |||||||
| Deferred revenue | 2,748 | ✕ | ||||||
| Debt | 174,177 | |||||||
| Business combination, contingent consideration, liability | 25,585 | |||||||
| Other undisclosed current liabilities | 247 | 4,908 | ||||||
| Total current liabilities: | 21,147 | 54,042 | 46,823 | 240,388 | 56,992 | |||
| Noncurrent Liabilities | ||||||||
| Long-term debt and lease obligation, including: | 947 | 49,073 | ||||||
| Other undisclosed long-term debt and lease obligation | 49,073 | |||||||
| Liabilities, other than long-term debt | 18,917 | 13,158 | 4,192 | 2,017 | 633 | |||
| Due to related parties | 10,192 | 9,982 | ||||||
| Other liabilities | 7,583 | 3,176 | 4,192 | 2,017 | 633 | |||
| Operating lease, liability | 1,142 | 947 | ✕ | |||||
| Other undisclosed noncurrent liabilities | 45,901 | 37,409 | 47,519 | 1,130 | 5,730 | |||
| Total noncurrent liabilities: | 64,818 | 51,514 | 51,711 | 3,147 | 55,436 | |||
| Total liabilities: | 85,965 | 105,556 | 98,534 | 243,535 | 112,428 | |||
| Temporary equity, carrying amount | 10,006 | 10,006 | ||||||
| Equity | ||||||||
| Equity, attributable to parent | (25,729) | 8,237 | 24,170 | 34,564 | 181,531 | |||
| Common stock | 7 | 147 | 81 | 75 | 64 | |||
| Treasury stock, value | (5,923) | (5,852) | (5,656) | (5,141) | (4,869) | |||
| Additional paid in capital | 607,245 | 585,375 | 517,123 | 498,438 | 433,143 | |||
| Accumulated other comprehensive loss | (2,840) | (1,820) | (2,416) | (7,629) | (7,270) | |||
| Accumulated deficit | (624,218) | (569,613) | (484,962) | (451,179) | (239,537) | |||
| Other undisclosed equity | 66,410 | 66,226 | ||||||
| Total equity: | (25,729) | 8,237 | 24,170 | 100,974 | 247,757 | |||
| TOTAL LIABILITIES AND EQUITY: | 70,242 | 123,799 | 122,704 | 344,509 | 360,185 | |||
Income Statement (P&L) ($ in thousands)
| 3/31/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|
| Revenues | 81,979 | 90,500 | 101,749 | 308,384 | 280,362 | ||
| Cost of revenue (Cost of Goods and Services Sold) | (41,691) | (29,775) | (44,002) | (137,259) | (140,719) | ||
| Gross profit: | 40,288 | 60,725 | 57,747 | 171,125 | 139,643 | ||
| Operating expenses | (119,648) | (201,940) | (255,768) | (352,981) | (143,955) | ||
| Other operating income, net | 898 | 3,932 | |||||
| Other undisclosed operating income | |||||||
| Operating loss: | (78,462) | (137,283) | (198,021) | (181,856) | (4,312) | ||
| Nonoperating income (expense) | 22,814 | 13,491 | 340 | (12,549) | (3,079) | ||
| Investment income, nonoperating | 92 | 161 | 35 | ||||
| Gain (loss), foreign currency transaction, before tax | (978) | (1,447) | 279 | (139) | (34) | ||
| Interest and debt expense | (1,009) | (2,686) | (12,571) | (309) | |||
| Loss from continuing operations before equity method investments, income taxes: | (56,657) | (123,792) | (200,367) | (206,976) | (7,700) | ||
| Other undisclosed income from continuing operations before income taxes | 1,009 | 2,686 | 12,571 | 309 | |||
| Loss from continuing operations before income taxes: | (55,648) | (123,792) | (197,681) | (194,405) | (7,391) | ||
| Income tax expense (benefit) | 1,043 | 886 | 3,486 | (17,237) | 4,268 | ||
| Loss from continuing operations: | (54,605) | (122,906) | (194,195) | (211,642) | (3,123) | ||
| Loss before gain (loss) on sale of properties: | ✕ | (126,548) | (33,783) | (211,642) | (3,123) | ||
| Income (loss) from discontinued operations | (3,642) | 160,412 | |||||
| Other undisclosed net income | 423,284 | ||||||
| Net income (loss): | (54,605) | (126,548) | (33,783) | 211,642 | (3,123) | ||
| Net income attributable to noncontrolling interest | 41,897 | ||||||
| Other undisclosed net loss attributable to parent | (423,284) | ||||||
| Net loss attributable to parent: | (54,605) | (84,651) | (33,783) | (211,642) | (3,123) | ||
| Preferred stock dividends and other adjustments | (2,120) | ||||||
| Net loss available to common stockholders, diluted: | (54,605) | (84,651) | (33,783) | (211,642) | (5,243) | ||
Comprehensive Income ($ in thousands)
| 3/31/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|
| Net income (loss): | (54,605) | (126,548) | (33,783) | 211,642 | (3,123) | ||
| Comprehensive income (loss): | (54,605) | (126,548) | (33,783) | 211,642 | (3,123) | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 41,897 | ||||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 1,020 | 596 | 23 | (423,635) | (3,061) | ||
| Comprehensive loss, net of tax, attributable to parent: | (53,585) | (84,055) | (33,760) | (211,993) | (6,184) | ||
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.