Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of Avantax.
Income Statement
| Breakdown | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 | December 31, 2013 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $666.50M | $885.20M | $754.95M | $717.95M | $560.46M | $509.56M | $455.91M | $117.71M | $580.72M | $573.98M |
| Cost of Revenue | $444.92M | $479.85M | $398.29M | $362.77M | $297.21M | $279.88M | $256.51M | $26.47M | $320.50M | $340.46M |
| Gross Profit | $221.58M | $405.35M | $356.66M | $355.17M | $263.25M | $229.68M | $199.40M | $91.24M | $260.22M | $233.52M |
| Gross Profit Ratio | 33.25% | 45.80% | 47.24% | 49.47% | 46.97% | 45.07% | 43.74% | 77.51% | 44.81% | 40.68% |
| Research and Development Expenses | $8.70M | $30.70M | $27.26M | $30.93M | $19.33M | $19.61M | $17.78M | $5.11M | $20.67M | $11.68M |
| General and Administrative Expenses | $92.75M | $98.67M | $82.16M | $78.53M | $60.12M | $52.67M | $47.40M | $43.56M | $39.12M | $29.85M |
| Selling and Marketing Expenses | $97.91M | $173.33M | $177.62M | $126.20M | $111.36M | $102.80M | $89.36M | $45.85M | $118.12M | $98.68M |
| Selling General and Administrative Expenses | $190.67M | $272.00M | $259.78M | $204.73M | $171.49M | $155.47M | $136.76M | $89.42M | $157.24M | $128.53M |
| Other Expenses | $37.73M | $39.23M | $37.04M | $42.84M | $-15.80M | $-44.55M | $-39.78M | $-12.54M | $-14.77M | $-29.62M |
| Operating Expenses | $237.10M | $341.93M | $324.07M | $278.50M | $195.28M | $178.54M | $158.42M | $96.05M | $205.85M | $159.07M |
| Cost and Expenses | $682.02M | $821.78M | $722.36M | $641.27M | $492.49M | $458.42M | $414.92M | $122.52M | $526.34M | $499.53M |
| Interest Income | $217.00K | $21.00K | $65.00K | $449.00K | $349.00K | $110.00K | $81.00K | $609.00K | $352.00K | $300.00K |
| Interest Expense | $475.00K | $29.95M | $25.26M | $19.25M | $15.77M | $23.16M | $37.11M | $12.91M | $14.89M | $12.30M |
| Depreciation and Amortization | $37.73M | $43.43M | $39.91M | $44.21M | $38.59M | $38.14M | $38.69M | $22.59M | $36.67M | $28.27M |
| EBITDA | $22.21M | $104.72M | $-269.12M | $119.95M | $106.84M | $88.18M | $78.25M | $17.78M | $19.42M | $102.71M |
| EBITDA Ratio | 3.33% | 11.83% | 8.76% | 16.71% | 19.06% | 18.13% | 18.32% | 15.11% | 26.50% | 17.90% |
| Operating Income | $-15.52M | $61.29M | $26.20M | $75.75M | $67.68M | $48.04M | $37.12M | $-4.81M | $-8.44M | $74.45M |
| Operating Income Ratio | -2.33% | 6.92% | 3.47% | 10.55% | 12.08% | 9.43% | 8.14% | -4.08% | -1.45% | 12.97% |
| Total Other Income Expenses Net | $3.71M | $-62.75M | $-280.42M | $-92.65M | $-15.80M | $-44.55M | $-39.78M | $-12.54M | $-28.11M | $-29.62M |
| Income Before Tax | $-11.81M | $-1.46M | $-300.42M | $-16.91M | $51.88M | $3.49M | $-2.66M | $-17.35M | $-23.21M | $44.83M |
| Income Before Tax Ratio | -1.77% | -0.17% | -39.79% | -2.35% | 9.26% | 0.68% | -0.58% | -14.74% | -4.00% | 7.81% |
| Income Tax Expense | $-14.93M | $-9.22M | $42.33M | $-65.05M | $311.00K | $-25.89M | $-1.28M | $-4.62M | $12.34M | $20.43M |
| Net Income | $3.12M | $7.76M | $-342.75M | $48.15M | $50.63M | $27.04M | $-65.16M | $-40.07M | $-35.55M | $24.40M |
| Net Income Ratio | 0.47% | 0.88% | -45.40% | 6.71% | 9.03% | 5.31% | -14.29% | -34.05% | -6.12% | 4.25% |
| EPS | $0.07 | $0.16 | $-7.14 | $1.00 | $1.07 | $0.61 | $-1.60 | $-0.98 | $-0.86 | $0.59 |
| EPS Diluted | $0.06 | $0.16 | $-7.14 | $0.98 | $1.03 | $0.57 | $-1.57 | $-0.98 | $-0.86 | $0.56 |
| Weighted Average Shares Outstanding | 47.99M | 48.34M | 47.98M | 48.26M | 47.39M | 44.37M | 40.74M | 40.96M | 41.40M | 41.20M |
| Weighted Average Shares Outstanding Diluted | 49.18M | 48.58M | 47.98M | 49.28M | 49.38M | 47.21M | 41.49M | 40.96M | 41.40M | 43.48M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 | December 31, 2013 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $263.93M | $134.82M | $150.12M | $80.82M | $84.52M | $59.97M | $51.71M | $55.47M | $46.44M | $130.22M |
| Short Term Investments | $- | $- | $- | $- | $- | $- | $7.10M | $11.30M | $254.85M | $203.48M |
| Cash and Short Term Investments | $263.93M | $134.82M | $150.12M | $80.82M | $84.52M | $59.97M | $58.81M | $66.77M | $301.30M | $333.70M |
| Net Receivables | $44.80M | $21.21M | $12.74M | $16.27M | $37.95M | $10.69M | $10.21M | $7.88M | $34.28M | $56.37M |
| Inventory | $1 | $13.14M | $10.28M | $17.42M | $8.01M | $1.37M | $2.35M | $215.22M | $29.25M | $28.83M |
| Other Current Assets | $15.03M | $65.30M | $37.09M | $42.06M | $586.00K | $28.74M | $28.82M | $266.02M | $13.48M | $9.77M |
| Total Current Assets | $323.75M | $200.28M | $200.67M | $139.14M | $131.07M | $99.40M | $97.85M | $340.68M | $378.30M | $428.68M |
| Property Plant Equipment Net | $72.40M | $94.10M | $81.95M | $28.86M | $12.39M | $9.83M | $10.84M | $11.31M | $15.94M | $16.11M |
| Goodwill | $266.28M | $454.82M | $454.82M | $662.38M | $548.68M | $549.04M | $548.74M | $548.96M | $304.66M | $348.96M |
| Intangible Assets | $292.50M | $302.29M | $322.18M | $290.21M | $294.60M | $328.20M | $362.18M | $396.30M | $168.92M | $178.06M |
| Goodwill and Intangible Assets | $558.78M | $757.11M | $777.00M | $952.59M | $843.29M | $877.24M | $910.92M | $945.25M | $473.58M | $527.02M |
| Long Term Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Tax Assets | $- | $- | $- | $10.00M | $- | $- | $- | $- | $- | $- |
| Other Non-Current Assets | $8.58M | $20.45M | $4.57M | $6.99M | $10.98M | $15.20M | $3.06M | $2.31M | $4.89M | $6.22M |
| Total Non-Current Assets | $639.76M | $871.66M | $863.52M | $998.43M | $866.66M | $902.27M | $924.81M | $958.87M | $494.41M | $549.35M |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Assets | $963.51M | $1.07B | $1.06B | $1.14B | $997.73M | $1.00B | $1.02B | $1.30B | $872.71M | $978.03M |
| Account Payables | $21.36M | $8.22M | $9.29M | $10.97M | $3.80M | $4.41M | $4.54M | $4.69M | $37.76M | $61.27M |
| Short Term Debt | $5.14M | $6.71M | $4.09M | $14.50M | $- | $- | $2.56M | $31.63M | $7.91M | $189.49M |
| Tax Payables | $85.97M | $- | $- | $- | $- | $- | $- | $- | $792.00K | $6.81M |
| Deferred Revenue | $4.58M | $13.18M | $12.30M | $12.01M | $10.26M | $9.95M | $12.16M | $11.52M | $7.88M | $7.51M |
| Other Current Liabilities | $25.25M | $83.62M | $75.44M | $56.05M | $34.23M | $47.34M | $35.12M | $118.26M | $20.71M | $24.30M |
| Total Current Liabilities | $142.29M | $111.72M | $101.12M | $93.53M | $48.28M | $51.76M | $54.37M | $166.10M | $75.06M | $289.37M |
| Long Term Debt | $30.33M | $586.40M | $588.96M | $387.40M | $260.39M | $338.08M | $412.40M | $539.77M | $271.01M | $113.19M |
| Deferred Revenue Non-Current | $4.40M | $5.32M | $6.25M | $7.17M | $8.58M | $804.00K | $1.85M | $1.90M | $1.92M | $1.81M |
| Deferred Tax Liabilities Non-Current | $20.82M | $20.12M | $30.66M | $- | $40.39M | $43.43M | $111.13M | $103.52M | $42.96M | $56.86M |
| Other Non-Current Liabilities | $22.48M | $6.75M | $24.92M | $5.95M | $32.48M | $26.21M | $25.90M | $25.97M | $2.74M | $2.72M |
| Total Non-Current Liabilities | $78.02M | $618.60M | $650.79M | $400.52M | $341.85M | $408.53M | $551.27M | $671.16M | $318.63M | $174.59M |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $220.32M | $730.32M | $751.90M | $494.06M | $390.13M | $460.28M | $605.64M | $837.26M | $393.69M | $463.96M |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock | $5.00K | $5.00K | $5.00K | $5.00K | $5.00K | $5.00K | $4.00K | $4.00K | $4.00K | $4.00K |
| Retained Earnings | $-829.54M | $-1.25B | $-1.26B | $-914.79M | $-961.69M | $-1.01B | $-1.09B | $-1.03B | $-987.52M | $-951.98M |
| Accumulated Other Comprehensive Income Loss | $- | $- | $- | $-272.00K | $-446.00K | $-4.00K | $-381.00K | $-527.00K | $-1.11M | $- |
| Other Total Stockholders Equity | $1.57B | $1.59B | $1.57B | $1.56B | $1.57B | $1.56B | $1.51B | $1.49B | $1.47B | $1.47B |
| Total Stockholders Equity | $743.20M | $341.62M | $312.29M | $643.51M | $607.60M | $541.39M | $417.02M | $462.28M | $479.02M | $514.07M |
| Total Equity | $743.20M | $341.62M | $312.29M | $643.51M | $632.54M | $559.42M | $432.71M | $477.32M | $479.02M | $514.07M |
| Total Liabilities and Stockholders Equity | $963.51M | $1.07B | $1.06B | $1.14B | $997.73M | $1.00B | $1.02B | $1.30B | $872.71M | $978.03M |
| Minority Interest | $- | $- | $- | $- | $24.95M | $18.03M | $15.70M | $15.04M | $- | $- |
| Total Liabilities and Total Equity | $963.51M | $1.07B | $1.06B | $1.14B | $997.73M | $1.00B | $1.02B | $1.30B | $872.71M | $978.03M |
| Total Investments | $- | $- | $- | $- | $- | $- | $7.10M | $11.30M | $254.85M | $203.48M |
| Total Debt | $35.47M | $593.11M | $593.04M | $401.90M | $260.39M | $338.08M | $414.96M | $571.40M | $278.93M | $302.68M |
| Net Debt | $-228.46M | $458.29M | $442.92M | $321.08M | $175.87M | $278.12M | $363.24M | $515.93M | $232.48M | $172.45M |
Cash Flow Statement
| Breakdown | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 | December 31, 2013 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $3.12M | $7.76M | $-342.75M | $48.15M | $51.57M | $29.38M | $-1.38M | $-12.73M | $-35.55M | $24.40M |
| Depreciation and Amortization | $37.73M | $43.43M | $39.91M | $44.21M | $38.59M | $38.14M | $38.69M | $22.59M | $36.67M | $28.27M |
| Deferred Income Tax | $1.70M | $-10.54M | $41.06M | $-67.55M | $-3.04M | $-16.16M | $-18.05M | $-12.61M | $-13.67M | $-10.85M |
| Stock Based Compensation | $21.15M | $20.75M | $10.07M | $16.30M | $13.25M | $11.65M | $13.76M | $8.69M | $11.88M | $11.53M |
| Change in Working Capital | $-2.75M | $-56.53M | $2.82M | $-2.38M | $2.57M | $-15.25M | $46.00M | $11.17M | $8.14M | $46.74M |
| Accounts Receivables | $1.65M | $-8.09M | $5.75M | $400.00K | $-3.03M | $-1.16M | $-2.16M | $-1.86M | $17.00M | $-9.91M |
| Inventory | $- | $-46.47M | $2.95M | $14.13M | $-1.10M | $-11.95M | $46.92M | $10.79M | $-420.00K | $-1.35M |
| Accounts Payables | $-3.07M | $-1.93M | $-5.08M | $461.00K | $-3.23M | $1.10M | $-548.00K | $369.00K | $-23.51M | $12.28M |
| Other Working Capital | $-1.32M | $-43.00K | $-796.00K | $-17.37M | $9.93M | $-15.20M | $48.71M | $12.66M | $15.07M | $45.72M |
| Other Non Cash Items | $45.67M | $31.97M | $292.98M | $54.07M | $2.60M | $25.09M | $6.24M | $13.33M | $48.25M | $-5.02M |
| Net Cash Provided by Operating Activities | $106.62M | $36.83M | $44.08M | $92.80M | $105.55M | $72.85M | $85.26M | $30.45M | $55.73M | $95.06M |
| Investments in Property Plant and Equipment | $-14.89M | $-30.28M | $-39.15M | $-10.50M | $-7.63M | $-5.04M | $-3.81M | $-1.51M | $-5.21M | $-4.75M |
| Acquisitions Net | $- | $- | $-101.56M | $-159.09M | $- | $- | $-1.79M | $-573.37M | $-44.93M | $-188.98M |
| Purchases of Investments | $- | $- | $- | $- | $- | $-409.00K | $-8.77M | $-214.26M | $-336.50M | $-351.88M |
| Sales Maturities of Investments | $- | $- | $- | $- | $- | $7.50M | $12.81M | $452.96M | $284.70M | $239.43M |
| Other Investing Activities | $680.73M | $-8.32M | $-120.34M | $-159.09M | $- | $1.03M | $167.22M | $-390.00K | $-99.90M | $2.49M |
| Net Cash Used for Investing Activities | $665.84M | $-38.59M | $-140.71M | $-169.59M | $-7.63M | $3.08M | $82.05M | $-336.56M | $-101.94M | $-303.69M |
| Debt Repayment | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock Issued | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock Repurchased | $-35.00M | $-1.64M | $-1.16M | $-28.40M | $-8.36M | $-9.10M | $-1.75M | $-7.74M | $-38.65M | $-10.01M |
| Dividends Paid | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Financing Activities | $-609.16M | $-14.18M | $160.94M | $77.84M | $-74.80M | $-68.56M | $-171.04M | $303.65M | $-37.58M | $270.58M |
| Net Cash Used Provided by Financing Activities | $-609.16M | $-14.18M | $160.94M | $77.84M | $-74.80M | $-68.56M | $-171.04M | $319.64M | $-37.58M | $270.58M |
| Effect of Forex Changes on Cash | $- | $- | $- | $38.00K | $-56.00K | $78.00K | $-26.00K | $-17.00K | $- | $- |
| Net Change in Cash | $163.30M | $-15.94M | $64.31M | $1.08M | $23.05M | $7.44M | $-3.76M | $13.51M | $-83.78M | $61.95M |
| Cash at End of Period | $263.93M | $134.82M | $150.76M | $86.45M | $85.37M | $62.31M | $51.71M | $55.47M | $46.44M | $130.22M |
| Cash at Beginning of Period | $100.63M | $150.76M | $86.45M | $85.37M | $62.31M | $54.87M | $55.47M | $41.97M | $130.22M | $68.28M |
| Operating Cash Flow | $106.62M | $36.83M | $44.08M | $92.80M | $105.55M | $72.85M | $85.26M | $30.45M | $55.73M | $95.06M |
| Capital Expenditure | $-14.89M | $-30.28M | $-39.15M | $-10.50M | $-7.63M | $-5.04M | $-3.81M | $-1.51M | $-5.21M | $-4.75M |
| Free Cash Flow | $91.73M | $6.55M | $4.93M | $82.30M | $97.92M | $67.81M | $81.45M | $28.94M | $50.52M | $90.31M |