Rubicon Technologies, Inc. (RBT) · 10+ Years of Financial statements

Income Statement	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	509	539	583	675	698
+ Sales & Services Revenue	509	539	583	675	698
- Cost of Revenue	492	517	559	648	648
+ Cost of Goods & Services	492	517	559	648	648
Gross Profit	18	22	24	28	50
+ Other Operating Income	- -	- -	- -	- -	- -
- Operating Expenses	73	74	97	281	100
+ Selling, General & Admin	55	53	67	238	65
+ Research & Development	12	15	22	37	30
+ Other Operating Expense	6	6	7	6	5
Operating Income (Loss)	-56	-51	-73	-253	-50
- Non-Operating (Income) Loss	5	9	2	28	28
+ Interest Expense, Net	5	8	11	17	36
+ Interest Expense	5	8	11	17	36
- Interest Income	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	1	- -	-9	12	-8
Pretax Income	-61	-60	-75	-282	-78
- Income Tax Expense (Benefit)	- -	-1	-2	- -	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-60	-59	-73	-282	-78
- Net Extraordinary Losses (Gains)	- -	- -	- -	-45	-41
+ Discontinued Operations	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	-45	-41
Income (Loss) Incl. MI	-60	-59	-73	-237	-36
- Minority Interest	- -	- -	- -	23	21
Net Income, GAAP	-60	-59	-73	-259	-57
- Preferred Dividends	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-60	-59	-73	-259	-57
Basic Weighted Avg Shares	6	6	6	6	23
Basic EPS, GAAP	-10.44	-10.12	-12.64	-41.56	-2.5
Basic EPS from Cont Ops	-10.44	-10.12	-12.64	-45.18	-3.4
Diluted Weighted Avg Shares	6	6	6	6	23
Diluted EPS, GAAP	-10.44	-10.12	-12.64	-41.56	-2.5
Diluted EPS from Cont Ops	-10.44	-10.12	-12.64	-45.18	-3.4
EBITDA	-49	-45	-65	-248	-44
EBITDA Margin (%)	-9.67	-8.33	-11.23	-36.66	-6.36
EBITA	-56	-51	-73	-253	-50
EBIT	-56	-51	-73	-253	-50
Gross Margin (%)	3.44	4.16	4.18	4.08	7.16
Operating Margin (%)	-10.93	-9.53	-12.45	-37.5	-7.1
Profit Margin (%)	-11.86	-10.86	-12.55	-38.37	-8.16
Sales per Employee	- -	- -	- -	1,556,194	2,051,712
Dividend per Share	- -	- -	- -	- -	- -
Depreciation Expense	6	6	7	6	5

Balance Sheet	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	119	101	118	151	179
+ Cash, Cash Equivalents & STI	18	6	11	10	19
+ Cash & Cash Equivalents	18	6	11	10	19
+ ST Investments	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	95	88	100	128	144
+ Accounts Receivable, Net	40	45	43	66	67
+ Notes Receivable, Net	- -	- -	- -	7	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -
+ Other Receivable, Net	55	43	57	55	77
+ Inventories	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -
+ Other ST Assets	7	7	8	13	17
+ Prepaid Expenses	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -
Total Noncurrent Assets	63	59	57	53	44
+ Property, Plant & Equip, Net	7	6	7	5	2
+ Property, Plant & Equip	11	11	13	14	6
- Accumulated Depreciation	4	5	7	8	4
+ LT Investments & Receivables	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -
+ Other LT Assets	56	53	51	48	42
+ Total Intangible Assets	50	47	46	43	40
+ Goodwill	32	32	32	32	32
+ Other Intangible Assets	18	15	14	11	8
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -
+ Misc LT Assets	6	6	5	5	2
Total Assets	183	160	176	204	223
+ Payables & Accruals	70	82	103	140	138
+ Accounts Payable	27	42	48	75	65
+ Accrued Taxes	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -
+ Other Payables & Accruals	43	40	56	65	72
+ ST Debt	38	31	54	57	72
+ ST Borrowings	37	30	53	56	71
+ ST Finance Leases	1	1	2	2	1
+ Other ST Liabilities	10	14	24	70	48
+ Deferred Revenue	3	4	5	6	7
+ Derivatives & Hedging	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -
+ Misc ST Liabilities	7	10	19	64	40
Total Current Liabilities	119	127	182	267	258
+ LT Debt	24	52	55	82	97
+ LT Borrowings	18	47	51	80	97
+ LT Finance Leases	6	5	4	2	- -
+ Other LT Liabilities	3	2	1	9	7
+ Accrued Liabilities	3	2	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	- -	- -	9	7
Total Noncurrent Liabilities	27	54	55	91	105
Total Liabilities	146	181	237	358	362
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -
+ Share Capital & APIC	- -	- -	- -	35	128
+ Common Stock	- -	- -	- -	- -	- -
+ Additional Paid in Capital	- -	- -	- -	35	128
- Treasury Stock	- -	- -	- -	- -	- -
+ Retained Earnings	- -	- -	- -	-338	-395
+ Other Equity	- -	- -	- -	- -	- -
Equity Before Minority Interest	37	-21	-61	-303	-267
+ Minority/Non Controlling Interest	- -	- -	- -	149	128
Total Equity	37	-21	-61	-154	-139
Total Liabilities & Equity	183	160	176	204	223
Shares Outstanding	6	6	6	7	40
Capital Leases - Total	7	6	5	4	1
Net Debt	37	71	93	126	150
Net Debt to Equity	101.26	-335.39	-151.65	-81.3	-107.74
Tangible Common Equity Ratio	-10.13	-60.79	-83.19	-122.64	-97.42
Current Ratio	1.01	0.79	0.65	0.56	0.7
Cash Conversion Cycle	- -	4.36	-1.77	-5.21	-4.85
Number of Employees	- -	- -	- -	434	340

Cash Flow Statement	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	-60	-59	-73	-282	-78
+ Depreciation & Amortization	6	6	7	6	5
+ Non-Cash Items	4	6	2	111	29
+ Stock-Based Compensation	1	- -	1	94	15
+ Deferred Income Taxes	- -	-1	-2	- -	- -
+ Asset Impairment Charge	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	4	6	3	17	14
+ Chg in Non-Cash Work Cap	-16	15	4	34	-23
+ (Inc) Dec in Accts Receiv	-17	1	-16	-19	-25
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	-1	1	-2	-4	-1
+ Inc (Dec) in Accts Payable	3	14	22	57	1
+ Inc (Dec) in Other	- -	-1	- -	- -	1
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Operating Activities	-65	-31	-60	-131	-67
+ Change in Fixed & Intang	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-1	-2	-4	-70	-1
+ Acq of Fixed Prod Assets	-1	-1	-2	-1	-1
+ Acq of Intangible Assets	-1	- -	-2	-69	- -
+ Net Change in LT Investment	- -	- -	- -	-69	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	-69	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	63	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Investing Activities	-1	-2	-4	-76	-1
+ Dividends Paid	- -	- -	- -	- -	- -
+ Net Cash From Debt	20	29	39	25	67
+ Cash From Debt	20	31	42	32	172
+ Repayments of Debt	- -	-2	-3	-7	-105
+ Cash (Repurchase) of Equity	- -	- -	- -	8	25
+ Increase in Capital Stock	- -	- -	- -	8	25
+ Decrease in Capital Stock	- -	- -	- -	- -	- -
+ Other Financing Activities	53	-7	29	174	-15
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Financing Activities	73	21	68	207	76
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -
Net Changes in Cash	6	-12	5	-1	9
EBITDA	-49	-45	-65	-248	-44
EBITDA Margin (%)	-9.67	-8.33	-11.23	-36.66	-6.36
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -
Free Cash Flow	-66	-33	-64	-201	-68
Free Cash Flow to Firm	- -	- -	- -	- -	- -
Free Cash Flow to Equity	- -	-4	-23	-107	-1
Free Cash Flow per Basic Share	-11.48	-5.7	-11.03	-32.26	-2.97
Price/Free Cash Flow	- -	- -	- -	-1.39	-0.62
Cash Flow to Net Income	1.08	0.54	0.82	0.51	1.17

Rubicon Technologies, Inc.

RBT US

0.13

0.13