APPH · Appharvest, 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 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.01M | - | $524.0K | $4.36M | $5.16M | - | $543.0K | $0 | $0 | - |
| Cost of Revenue | $34.34M | - | $5.87M | $14.12M | $13.55M | - | $7.48M | $15.68M | $0 | - |
| Gross Profit | ($21.33M) | - | ($5.35M) | ($9.76M) | ($8.39M) | - | ($6.94M) | $0 | $0 | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $10.02M | - | $17.51M | $20.23M | $21.04M | - | $25.40M | $27.47M | $980.0K | - |
| Total Operating Expenses | $10.02M | - | $17.51M | $20.23M | $21.04M | - | $25.40M | $27.47M | $980.0K | - |
| D&A | $7.64M | - | $3.73M | $3.01M | $3.11M | - | $2.75M | $2.36M | $21.0K | - |
| Operating Income | ($31.35M) | - | ($22.86M) | ($29.99M) | ($29.43M) | - | ($32.34M) | ($40.01M) | ($980.0K) | - |
| Interest Expense | $0 | - | - | - | - | - | - | - | - | - |
| Income Tax | ($243.0K) | - | $1.44M | ($159.0K) | ($109.0K) | - | $17.0K | ($1.49M) | $0 | - |
| Net Income | ($33.63M) | - | ($23.98M) | ($28.70M) | ($30.64M) | - | ($17.27M) | ($32.02M) | ($818.0K) | - |
| EPS - Basic | ($0.26) | - | ($0.23) | ($0.28) | ($0.30) | - | ($0.17) | ($0.05) | ($0.02) | - |
| EPS - Diluted | ($0.26) | - | ($0.23) | ($0.28) | ($0.30) | - | ($0.17) | ($0.32) | ($0.02) | - |
Balance Sheet
| Line item | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $50.02M | $54.33M | $36.23M | $50.94M | $97.64M | $150.75M | $221.57M | $273.07M | $297.66M | $312.0K |
| Accounts Receivable | $3.67M | $2.79M | $4.0K | $1.29M | $1.88M | $1.57M | - | $983.0K | $0 | - |
| Inventory | $16.11M | $18.08M | $12.41M | $2.94M | $5.08M | $5.00M | $4.19M | $1.34M | $3.39M | - |
| Accounts Payable | $30.45M | $16.57M | $10.50M | $10.67M | $14.13M | $8.55M | $16.35M | $4.43M | $23.07M | - |
| Current Assets | $110.58M | $114.11M | $75.96M | $107.09M | $145.73M | $188.50M | $236.42M | $279.74M | $307.28M | $389.7K |
| Total Assets | $609.80M | $595.33M | $563.46M | $563.75M | $563.58M | $554.06M | $604.13M | $595.53M | $507.42M | $100.44M |
| Current Liabilities | $49.20M | $42.97M | $32.41M | $79.41M | $69.81M | $53.24M | $42.00M | $22.27M | $32.41M | - |
| Long-term Debt | $178.82M | $180.54M | $181.62M | $121.41M | $117.54M | $102.64M | $85.44M | $72.53M | - | - |
| Total Liabilities | $341.06M | $335.04M | $220.14M | $208.02M | $195.99M | $166.42M | $138.69M | $122.39M | $66.17M | $3.08M |
| Stockholders' Equity | $268.74M | $260.29M | $343.31M | $355.73M | $367.59M | $387.64M | $465.44M | $473.14M | $441.25M | $5.00M |
| Retained Earnings | ($397.59M) | ($363.96M) | ($270.64M) | ($246.65M) | ($217.95M) | ($187.31M) | ($98.93M) | ($81.66M) | ($49.64M) | ($3.46M) |
Cash Flow
| Line item | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($25.00M) | - | - | - | ($27.50M) | - | - | - | ($953.0K) | - |
| Investing Cash Flow | ($21.17M) | - | - | - | ($39.02M) | - | - | - | ($83.0K) | - |
| Financing Cash Flow | $41.11M | - | - | - | $24.98M | - | - | - | $4.88M | - |
| CapEx | $21.17M | - | - | - | $39.02M | - | - | - | $83.0K | - |
| Free Cash Flow | ($46.17M) | - | - | - | ($66.52M) | - | - | - | ($1.04M) | - |
Ratios
| Metric | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | -164.0% | - | -1021.0% | -224.0% | -162.5% | - | -1277.9% | - | - | - |
| Operating margin | -240.9% | - | -4363.4% | -688.1% | -569.9% | - | -5955.8% | - | - | - |
| EBITDA margin | -182.2% | - | -3651.9% | -619.0% | -509.6% | - | -5449.0% | - | - | - |
| Net margin | -258.5% | - | -4577.1% | -658.7% | -593.2% | - | -3180.1% | - | - | - |
| Free cash flow margin | -354.9% | - | - | - | -1288.2% | - | - | - | - | - |
| FCF / Net income | 1.37 | - | - | - | 2.17 | - | - | - | 1.27 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 77.0% | - | 3342.4% | 464.1% | 407.4% | - | 4677.9% | - | - | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -5.5% | - | -4.3% | -5.1% | -5.4% | - | -2.9% | -5.4% | -0.2% | - |
| Return on equity | -12.5% | - | -7.0% | -8.1% | -8.3% | - | -3.7% | -6.8% | -0.2% | - |
| Return on invested capital | -5.5% | - | -3.4% | -5.0% | -4.8% | - | -4.6% | -5.8% | - | - |
| Liquidity | ||||||||||
| Current ratio | 2.25 | 2.66 | 2.34 | 1.35 | 2.09 | 3.54 | 5.63 | 12.56 | 9.48 | - |
| Quick ratio | 1.92 | 2.24 | 1.96 | 1.31 | 2.01 | 3.45 | 5.53 | 12.50 | 9.38 | - |
| Cash ratio | 1.02 | 1.26 | 1.12 | 0.64 | 1.40 | 2.83 | 5.28 | 12.26 | 9.19 | - |
| Leverage | ||||||||||
| Debt / Equity | 0.67 | 0.69 | 0.53 | 0.34 | 0.32 | 0.26 | 0.18 | 0.15 | - | - |
| Debt / Assets | 0.29 | 0.30 | 0.32 | 0.22 | 0.21 | 0.19 | 0.14 | 0.12 | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 2.27 | 2.29 | 1.64 | 1.58 | 1.53 | 1.43 | 1.30 | 1.26 | 1.15 | 20.09 |
| Liabilities / Assets | 0.56 | 0.56 | 0.39 | 0.37 | 0.35 | 0.30 | 0.23 | 0.21 | 0.13 | 0.03 |
| Efficiency | ||||||||||
| Asset turnover | 0.02 | - | 0.00 | 0.01 | 0.01 | - | 0.00 | 0.00 | 0.00 | - |
| Inventory turnover | 2.13 | - | 0.47 | 4.81 | 2.67 | - | 1.79 | 11.69 | 0.00 | - |
| Days sales outstanding | 103d | - | 3d | 108d | 133d | - | - | - | - | - |
| Days inventory outstanding | 171d | - | 771d | 76d | 137d | - | 204d | 31d | - | - |
| Days payable outstanding | 324d | - | 652d | 276d | 380d | - | 798d | 103d | - | - |
| Cash conversion cycle | -49d | - | 121d | -92d | -111d | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 152.0% | - | -3.5% | - | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | -154.3% | - | 22.9% | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -6.5% | - | 29.3% | 25.1% | -2903.0% | - | -20717.5% | -45513.8% | - | - |
| Net income growth (YoY) | -9.8% | - | -38.9% | 10.3% | -3645.1% | - | -13316.2% | -41868.4% | - | - |
| EPS growth (YoY) | 13.3% | - | -35.3% | 12.5% | -1400.0% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 30.6% | - | - | - | -6320.9% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -26.9% | -32.9% | -26.2% | -24.8% | -16.7% | 7652.8% | 9208.8% | 9362.8% | - | - |
Peer comparison
Same SIC group: Agricultural Production-Crops
| Company | Revenue (last FY) | Net margin | ROE |
|---|---|---|---|
| FDP | $4.32B | 2.1% | 4.5% |
| CTVA | $17.40B | 6.3% | 4.5% |
| VRNO | $821.50M | -31.4% | -36.6% |
| CBSTF | - | - | - |
| GTII/GTBIF | $1.18B | 9.7% | 6.0% |
Comparing AppHarvest against the 5 most active filers in the same SIC group.