APGT · Appgate, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Revenue | $42.66M | $33.73M | - | - | - | - |
| Cost of Revenue | $21.89M | $21.73M | - | - | - | - |
| Gross Profit | $20.77M | $12.00M | - | - | - | - |
| R&D | $13.10M | $9.78M | - | - | - | - |
| SG&A | $34.04M | $137.7K | $46.3K | $37.1K | $42.5K | $50.0K |
| Total Operating Expenses | $100.92M | $55.99M | $62.4K | $51.3K | $55.9K | $60.8K |
| D&A | $5.48M | $5.21M | - | - | - | - |
| Operating Income | ($80.14M) | ($43.99M) | - | - | - | - |
| Interest Expense | $6.44M | $4.09M | $16.1K | $14.3K | $13.4K | $10.8K |
| Income Tax | $1.76M | $1.84M | - | - | - | - |
| Net Income | ($30.09M) | ($50.42M) | ($62.4K) | ($51.3K) | ($55.9K) | ($60.8K) |
| EPS - Basic | - | - | - | - | - | - |
| EPS - Diluted | - | - | - | - | - | - |
Balance Sheet
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $11.53M | $25.99M | $13.8K | $10.8K | $3.3K | $40.3K |
| Accounts Receivable | $4.23M | $12.05M | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $4.33M | $6.56M | - | - | - | - |
| Current Assets | $23.72M | $91.96M | $13.8K | $10.8K | $3.3K | $40.3K |
| Total Assets | $138.82M | $194.35M | - | - | - | - |
| Current Liabilities | $67.27M | $19.52M | $426.5K | $366.0K | $312.2K | $298.4K |
| Long-term Debt | $120.27M | $72.97M | - | - | - | - |
| Total Liabilities | $162.91M | $176.59M | - | - | - | - |
| Stockholders' Equity | ($24.09M) | $3.19M | ($412.7K) | ($355.2K) | ($308.9K) | ($258.1K) |
| Retained Earnings | ($546.05M) | ($504.63M) | ($2.50M) | ($2.43M) | ($2.38M) | ($2.33M) |
Cash Flow
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($58.55M) | ($17.18M) | ($36.9K) | ($32.5K) | ($37.0K) | ($49.3K) |
| Investing Cash Flow | ($568.0K) | ($1.07M) | - | - | - | - |
| Financing Cash Flow | $46.50M | $19.41M | $40.0K | $40.0K | $85.0K | $85.0K |
| CapEx | $568.0K | $1.07M | - | - | - | - |
| Free Cash Flow | ($59.12M) | ($18.26M) | - | - | - | - |
Ratios
| Metric | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 48.7% | 35.6% | - | - | - | - |
| Operating margin | -187.9% | -130.4% | - | - | - | - |
| EBITDA margin | -175.0% | -115.0% | - | - | - | - |
| Net margin | -70.5% | -149.5% | - | - | - | - |
| Free cash flow margin | -138.6% | -54.1% | - | - | - | - |
| FCF / Net income | 1.96 | 0.36 | - | - | - | - |
| R&D / Revenue | 30.7% | 29.0% | - | - | - | - |
| SG&A / Revenue | 79.8% | 0.4% | - | - | - | - |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -21.7% | -25.9% | - | - | - | - |
| Return on equity | 124.9% | -1582.7% | 15.1% | 14.4% | 18.1% | 23.6% |
| Return on invested capital | -65.8% | -45.6% | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 0.35 | 4.71 | 0.03 | 0.03 | 0.01 | 0.14 |
| Quick ratio | 0.35 | 4.71 | 0.03 | 0.03 | 0.01 | 0.14 |
| Cash ratio | 0.17 | 1.33 | 0.03 | 0.03 | 0.01 | 0.14 |
| Leverage | ||||||
| Debt / Equity | -4.99 | 22.90 | - | - | - | - |
| Debt / Assets | 0.87 | 0.38 | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -12.4x | -10.8x | - | - | - | - |
| Equity multiplier | -5.76 | 61.00 | - | - | - | - |
| Liabilities / Assets | 1.17 | 0.91 | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.31 | 0.17 | - | - | - | - |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 36d | 130d | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 72d | 110d | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 26.5% | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | 73.1% | - | - | - | - | - |
| Operating income growth (YoY) | -82.2% | - | - | - | - | - |
| Net income growth (YoY) | 40.3% | -80695.1% | -21.6% | 8.1% | 8.2% | -16.5% |
| EPS growth (YoY) | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -223.8% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | - | - | -16.2% | -15.0% | -19.7% | -27.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Product / service
$103.87M totalSubscription Revenue$36.61M · 35.2%
Subscription Term Based Licenses$21.95M · 21.1%
Multi Year Subscription Term Based Licenses$13.38M · 12.9%
Subscription Saa S$10.53M · 10.1%
Single Year Subscription Term Based Licenses$8.57M · 8.2%
Services And Other$6.64M · 6.4%
Support And Maintenance$4.14M · 4.0%
Perpetual Licenses$2.06M · 2.0%
Geographic
$90.62M totalUnited States And Canada$24.74M · 27.3%
US$22.58M · 24.9%
Latin America$15.16M · 16.7%
Other Geographical Locations$12.69M · 14.0%
CO$6.73M · 7.4%
EC$3.32M · 3.7%
EMEA$2.91M · 3.2%
Asia Pacific$2.50M · 2.8%
Stability scores
Altman Z′
FY 2022 · bankruptcy risk
-5.11
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2022 · 9-point quality
3/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✓ROA improved YoY
- ✗Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Prepackaged Software
Comparing Appgate against the 5 most active filers in the same SIC group.