AVTA · Avantax, 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 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $192.34M | $186.93M | $177.98M | - | $171.70M | $256.88M | $307.55M | - | $174.17M | $254.31M |
| Cost of Revenue | $117.68M | $110.85M | $108.25M | - | $109.18M | $120.52M | $129.30M | - | $122.96M | $118.34M |
| Gross Profit | $74.66M | $76.08M | $69.73M | - | $62.52M | $136.37M | $178.25M | - | $51.21M | $135.97M |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $33.01M | $26.34M | $32.40M | - | $27.78M | $26.65M | $29.07M | - | $23.10M | $23.83M |
| Total Operating Expenses | $189.79M | $176.58M | $179.60M | - | $185.51M | $206.10M | $262.51M | - | $194.46M | $212.69M |
| D&A | $4.14M | $3.59M | $9.93M | - | $3.84M | $3.14M | $11.30M | - | $2.87M | $3.20M |
| Operating Income | $2.55M | $10.35M | ($1.62M) | - | ($13.82M) | $50.78M | $45.04M | - | ($20.28M) | $41.63M |
| Interest Expense | $5.99M | $4.95M | $1.68M | - | $9.48M | $7.96M | $7.81M | - | $7.98M | $7.96M |
| Income Tax | ($1.07M) | $2.07M | ($481.0K) | - | ($1.73M) | $3.24M | $2.58M | - | ($774.0K) | $1.99M |
| Net Income | ($1.50M) | $3.58M | $1.67M | - | ($21.84M) | $39.42M | $34.62M | - | ($27.80M) | $31.61M |
| EPS - Basic | ($0.04) | $0.09 | $0.04 | - | ($0.46) | $0.83 | $0.71 | - | ($0.57) | $0.65 |
| EPS - Diluted | ($0.04) | $0.09 | $0.04 | - | ($0.46) | $0.81 | $0.70 | - | ($0.57) | $0.64 |
Balance Sheet
| Line item | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $106.44M | $109.79M | $144.96M | $263.93M | $91.10M | $171.30M | $144.22M | $134.82M | $184.93M | $232.41M |
| Accounts Receivable | $24.68M | $25.13M | $25.67M | $24.12M | $25.68M | $20.35M | $26.62M | $21.91M | $17.89M | $18.78M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $3.77M | $2.17M | $4.32M | $7.53M | $3.80M | $6.96M | $23.88M | $8.22M | $8.93M | $10.16M |
| Current Assets | $186.24M | $186.98M | $211.50M | $323.75M | $156.94M | $230.56M | $215.43M | $200.28M | $239.94M | $293.46M |
| Total Assets | $825.68M | $821.64M | $847.27M | $963.51M | $1.03B | $1.10B | $1.08B | $1.07B | $1.10B | $1.16B |
| Current Liabilities | $89.76M | $78.95M | $146.62M | $142.29M | $62.58M | $88.65M | $115.74M | $111.72M | $114.29M | $120.33M |
| Long-term Debt | $248.39M | $251.40M | $157.68M | $0 | $521.09M | $553.48M | $553.30M | $553.13M | $552.99M | $552.83M |
| Total Liabilities | $421.99M | $410.44M | $379.23M | $220.32M | $654.00M | $709.63M | $735.09M | $730.32M | $744.35M | $774.38M |
| Stockholders' Equity | $403.69M | $411.20M | $468.04M | $743.20M | $371.59M | $389.45M | $348.87M | $341.62M | $359.13M | $382.51M |
| Retained Earnings | ($825.78M) | ($824.29M) | ($827.87M) | ($829.54M) | ($1.20B) | ($1.18B) | ($1.22B) | ($1.25B) | ($1.23B) | ($1.20B) |
Cash Flow
| Line item | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | $7.05M | - | - | - | $47.34M | - | - | - |
| Investing Cash Flow | - | - | ($4.60M) | - | - | - | ($5.48M) | - | - | - |
| Financing Cash Flow | - | - | ($32.46M) | - | - | - | ($32.46M) | - | - | - |
| CapEx | - | - | $2.54M | - | - | - | $4.73M | - | - | - |
| Free Cash Flow | - | - | $4.51M | - | - | - | $42.61M | - | - | - |
Ratios
| Metric | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 38.8% | 40.7% | 39.2% | - | 36.4% | 53.1% | 58.0% | - | 29.4% | 53.5% |
| Operating margin | 1.3% | 5.5% | -0.9% | - | -8.0% | 19.8% | 14.6% | - | -11.6% | 16.4% |
| EBITDA margin | 3.5% | 7.5% | 4.7% | - | -5.8% | 21.0% | 18.3% | - | -10.0% | 17.6% |
| Net margin | -0.8% | 1.9% | 0.9% | - | -12.7% | 15.3% | 11.3% | - | -16.0% | 12.4% |
| Free cash flow margin | - | - | 2.5% | - | - | - | 13.9% | - | - | - |
| FCF / Net income | - | - | 2.70 | - | - | - | 1.23 | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 17.2% | 14.1% | 18.2% | - | 16.2% | 10.4% | 9.5% | - | 13.3% | 9.4% |
| Effective tax rate | - | 36.7% | -40.4% | - | - | 7.6% | 6.9% | - | - | 5.9% |
| Return on assets | -0.2% | 0.4% | 0.2% | - | -2.1% | 3.6% | 3.2% | - | -2.5% | 2.7% |
| Return on equity | -0.4% | 0.9% | 0.4% | - | -5.9% | 10.1% | 9.9% | - | -7.7% | 8.3% |
| Return on invested capital | 0.3% | 1.0% | -0.3% | - | -1.2% | 5.0% | 4.6% | - | -1.8% | 4.2% |
| Liquidity | ||||||||||
| Current ratio | 2.07 | 2.37 | 1.44 | 2.28 | 2.51 | 2.60 | 1.86 | 1.79 | 2.10 | 2.44 |
| Quick ratio | 2.07 | 2.37 | 1.44 | 2.28 | 2.51 | 2.60 | 1.86 | 1.79 | 2.10 | 2.44 |
| Cash ratio | 1.19 | 1.39 | 0.99 | 1.85 | 1.46 | 1.93 | 1.25 | 1.21 | 1.62 | 1.93 |
| Leverage | ||||||||||
| Debt / Equity | 0.62 | 0.61 | 0.34 | 0.00 | 1.40 | 1.42 | 1.59 | 1.62 | 1.54 | 1.45 |
| Debt / Assets | 0.30 | 0.31 | 0.19 | 0.00 | 0.51 | 0.50 | 0.51 | 0.52 | 0.50 | 0.48 |
| Debt / EBITDA | 37.11 | 18.03 | 18.99 | - | - | 10.26 | 9.82 | - | - | 12.33 |
| Interest coverage | 0.4x | 2.1x | -1.0x | - | -1.5x | 6.4x | 5.8x | - | -2.5x | 5.2x |
| Equity multiplier | 2.05 | 2.00 | 1.81 | 1.30 | 2.76 | 2.82 | 3.11 | 3.14 | 3.07 | 3.02 |
| Liabilities / Assets | 0.51 | 0.50 | 0.45 | 0.23 | 0.64 | 0.65 | 0.68 | 0.68 | 0.67 | 0.67 |
| Efficiency | ||||||||||
| Asset turnover | 0.23 | 0.23 | 0.21 | - | 0.17 | 0.23 | 0.28 | - | 0.16 | 0.22 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 47d | 49d | 53d | - | 55d | 29d | 32d | - | 37d | 27d |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 12d | 7d | 15d | - | 13d | 21d | 67d | - | 27d | 31d |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 12.0% | -27.2% | -42.1% | - | -1.4% | 1.0% | 10.5% | - | -0.7% | 57.8% |
| Revenue CAGR (3y) | 3.1% | 5.1% | -12.2% | - | 4.8% | 17.6% | 10.9% | - | 24.5% | 17.2% |
| Revenue CAGR (5y) | 16.4% | 3.4% | -2.9% | - | 13.7% | 13.0% | 11.0% | - | 15.9% | 16.2% |
| Gross profit growth (YoY) | 19.4% | -44.2% | -60.9% | - | 22.1% | 0.3% | 8.6% | - | -28.6% | 83.3% |
| Operating income growth (YoY) | - | -79.6% | - | - | 31.9% | 22.0% | 21.0% | - | - | - |
| Net income growth (YoY) | 93.2% | -90.9% | -95.2% | - | 21.4% | 24.7% | 25.2% | - | -6.1% | -36.3% |
| EPS growth (YoY) | 91.3% | -88.9% | -94.3% | - | 19.3% | 26.6% | 25.0% | - | -3.6% | -37.9% |
| EPS CAGR (3y) | - | -55.6% | - | - | - | 9.3% | -17.6% | - | - | -3.4% |
| EPS CAGR (5y) | - | -33.8% | -46.7% | - | - | 63.2% | 0.9% | - | - | - |
| FCF growth (YoY) | - | - | -89.4% | - | - | - | -5.6% | - | - | - |
| FCF CAGR (5y) | - | - | -38.7% | - | - | - | -8.8% | - | - | - |
| Book value growth (YoY) | 8.6% | 5.6% | 34.2% | 117.5% | 3.5% | 1.8% | 1.2% | 9.4% | -0.0% | 0.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Business segments
$885.20M totalWealth Management$658.21M · 74.4%
Tax Software$226.99M · 25.6%
Product / service
$1.62B totalFinancial Service$658.21M · 40.6%
Advisory Revenue$395.80M · 24.4%
Tax Software Services$226.99M · 14.0%
Consumer$209.75M · 12.9%
Commission Revenue$89.97M · 5.5%
Asset Based Revenue$22.10M · 1.4%
Professional$14.84M · 0.9%
Transaction And Fee Revenue$4.21M · 0.3%
Peer comparison
Same SIC group: Finance Services
Comparing AVANTAX against the 5 most active filers in the same SIC group.