$SBIG
springbig Holdings Inc

2021 Q3 Form 10-Q Financial Statement

#000114036121037686 Filed on November 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2021 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue $1.560M $1.870M $1.590M
YoY Change
Gross Profit $4.561M $3.940M $3.620M
YoY Change
Gross Profit Margin
Selling, General & Admin $4.080M $3.580M $3.180M
YoY Change
% of Gross Profit 89.45% 90.86% 87.85%
Research & Development $1.916M $1.810M $1.550M
YoY Change
% of Gross Profit 42.01% 45.94% 42.82%
Depreciation & Amortization $50.00K $0.00 $10.00K
YoY Change 400.0%
% of Gross Profit 1.1% 0.0% 0.28%
Operating Expenses $276.6K $164.3K $95.58K
YoY Change 1802.05%
Operating Profit -$1.435M -$164.3K -$95.58K
YoY Change 1802.05%
Interest Expense $14.17K $12.58K $5.790K
YoY Change
% of Operating Profit
Other Income/Expense, Net $8.640M $2.733M -$1.968M
YoY Change
Pretax Income $8.378M $2.568M -$2.063M
YoY Change
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $8.378M $2.568M -$2.063M
YoY Change -104720300.0%
Net Earnings / Revenue
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share $167.6K $51.37K -$41.82K
COMMON SHARES
Basic Shares Outstanding 17.77M shares
Diluted Shares Outstanding 17.77M shares

Balance Sheet

Concept 2021 Q3 2021 Q2 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $724.5K $790.0K $814.0K
YoY Change
Cash & Equivalents $6.090M $790.0K $814.0K
Short-Term Investments
Other Short-Term Assets $343.1K $415.9K $495.4K
YoY Change
Inventory
Prepaid Expenses $415.9K $495.4K
Receivables $2.000M
Other Receivables $100.0K
Total Short-Term Assets $1.068M $1.206M $1.309M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $480.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $200.0M
YoY Change
Other Assets $200.0M $200.0M
YoY Change
Total Long-Term Assets $200.0M $200.0M $200.0M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $1.068M $1.206M $1.309M
Total Long-Term Assets $200.0M $200.0M $200.0M
Total Assets $201.1M $201.2M $201.3M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $242.9K $104.7K $43.96K
YoY Change
Accrued Expenses $108.0K $108.0K $108.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $350.9K $212.7K $152.0K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $16.76M $25.40M $28.12M
YoY Change
Total Long-Term Liabilities $16.76M $25.40M $28.12M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $350.9K $212.7K $152.0K
Total Long-Term Liabilities $16.76M $25.40M $28.12M
Total Liabilities $17.11M $25.61M $28.27M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings $500.0K -$28.15M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$16.01M -$24.39M -$26.96M
YoY Change
Total Liabilities & Shareholders Equity $201.1M $201.2M $201.3M
YoY Change

Cashflow Statement

Concept 2021 Q3 2021 Q2 2021 Q1
OPERATING ACTIVITIES
Net Income $8.378M $2.568M -$2.063M
YoY Change -104720300.0%
Depreciation, Depletion And Amortization $50.00K $0.00 $10.00K
YoY Change 400.0%
Cash From Operating Activities -$65.55K -$24.04K -$547.0K
YoY Change -159.59% 2188048.0%
INVESTING ACTIVITIES
Capital Expenditures -$60.00K $160.0K $40.00K
YoY Change -140.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$200.0M
YoY Change
Cash From Investing Activities $0.00 $0.00 -$200.0M
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 201.2M
YoY Change -100.0% 92618.21%
NET CHANGE
Cash From Operating Activities -65.55K -24.04K -547.0K
Cash From Investing Activities 0.000 0.000 -200.0M
Cash From Financing Activities 0.000 0.000 201.2M
Net Change In Cash -65.55K -24.04K 628.3K
YoY Change -100.73% 189.6%
FREE CASH FLOW
Cash From Operating Activities -$65.55K -$24.04K -$547.0K
Capital Expenditures -$60.00K $160.0K $40.00K
Free Cash Flow -$5.550K -$184.0K -$587.0K
YoY Change -86.13%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Use Of Estimates
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<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span> <span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-style: italic; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Use of Estimates</div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The preparation of the condensed financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.</div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="font-family: 'Times New Roman';"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. </span><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">One of the more significant accounting estimates included in these unaudited condensed financial statements is the determination of the fair value of the warrant liability. Accordingly, the actual results could differ significantly from those estimates.</span></div>
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<div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span> <span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; font-style: italic; font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Concentration of Credit Risk</div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><br/> </span> </div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times may exceed the Federal Depository Insurance Corporation coverage limit of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such account.</div>
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