CLVR · Clever Leaves Holdings 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 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|
| Revenue | $17.42M | $17.80M | $15.37M | $12.12M |
| Cost of Revenue | $10.86M | $13.47M | $8.56M | $4.70M |
| Gross Profit | $6.56M | $4.33M | $6.81M | $7.41M |
| R&D | $1.14M | $1.72M | $1.01M | - |
| SG&A | $17.99M | $27.82M | $38.40M | $29.83M |
| Total Operating Expenses | $22.15M | $79.43M | $64.02M | $35.94M |
| D&A | $981.0K | $2.06M | $1.77M | $1.85M |
| Operating Income | ($15.59M) | ($75.10M) | ($57.21M) | ($28.53M) |
| Interest Expense | - | - | - | - |
| Income Tax | $68.0K | ($6.35M) | $950.0K | $0 |
| Net Income | ($17.90M) | ($66.17M) | ($45.73M) | ($36.67M) |
| EPS - Basic | ($11.42) | ($51.60) | ($100.20) | - |
| EPS - Diluted | ($11.42) | ($51.60) | ($100.20) | - |
Balance Sheet
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|
| Cash & Equivalents | $6.83M | $12.45M | $37.23M | $79.11M |
| Accounts Receivable | $907.0K | $2.25M | $2.22M | $526.0K |
| Inventory | $4.48M | $8.40M | $15.41M | $5.42M |
| Accounts Payable | $2.06M | $2.30M | $3.98M | $3.37M |
| Current Assets | $13.94M | $26.25M | $60.39M | $23.50M |
| Total Assets | $31.24M | $52.10M | $116.16M | $95.72M |
| Current Liabilities | $5.81M | $9.43M | $27.25M | $6.10M |
| Long-term Debt | $1.22M | $1.06M | $7.59M | $33.73M |
| Total Liabilities | $7.03M | $11.69M | $43.39M | $45.52M |
| Stockholders' Equity | $24.22M | $40.41M | $72.77M | $45.50M |
| Retained Earnings | ($198.80M) | ($180.91M) | ($114.74M) | ($31.93M) |
Cash Flow
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|
| Operating Cash Flow | ($11.51M) | ($29.07M) | ($36.23M) | ($21.96M) |
| Investing Cash Flow | $4.69M | $1.19M | ($7.28M) | ($3.67M) |
| Financing Cash Flow | $656.0K | $3.29M | $1.83M | $91.84M |
| CapEx | $31.0K | $1.31M | $7.28M | $3.67M |
| Free Cash Flow | ($11.54M) | ($30.37M) | ($43.51M) | ($25.63M) |
Ratios
| Metric | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|
| Profitability | ||||
| Gross margin | 37.6% | 24.3% | 44.3% | 61.2% |
| Operating margin | -89.5% | -421.9% | -372.1% | -235.4% |
| EBITDA margin | -83.9% | -410.4% | -360.6% | -220.1% |
| Net margin | -102.8% | -371.7% | -297.4% | -302.7% |
| Free cash flow margin | -66.3% | -170.6% | -283.0% | -211.5% |
| FCF / Net income | 0.64 | 0.46 | 0.95 | 0.70 |
| R&D / Revenue | 6.5% | 9.7% | 6.6% | - |
| SG&A / Revenue | 103.3% | 156.3% | 249.8% | 246.2% |
| Effective tax rate | - | - | - | - |
| Return on assets | -57.3% | -127.0% | -39.4% | -38.3% |
| Return on equity | -73.9% | -163.7% | -62.8% | -80.6% |
| Return on invested capital | -48.4% | -143.1% | -56.2% | -28.4% |
| Liquidity | ||||
| Current ratio | 2.40 | 2.78 | 2.22 | 3.85 |
| Quick ratio | 1.63 | 1.89 | 1.65 | 2.97 |
| Cash ratio | 1.18 | 1.32 | 1.37 | 12.98 |
| Leverage | ||||
| Debt / Equity | 0.05 | 0.03 | 0.10 | 0.74 |
| Debt / Assets | 0.04 | 0.02 | 0.07 | 0.35 |
| Debt / EBITDA | - | - | - | - |
| Interest coverage | - | - | - | - |
| Equity multiplier | 1.29 | 1.29 | 1.60 | 2.10 |
| Liabilities / Assets | 0.22 | 0.22 | 0.37 | 0.48 |
| Efficiency | ||||
| Asset turnover | 0.56 | 0.34 | 0.13 | 0.13 |
| Inventory turnover | 2.42 | 1.60 | 0.56 | 0.87 |
| Days sales outstanding | 19d | 46d | 53d | 16d |
| Days inventory outstanding | 151d | 228d | 657d | 420d |
| Days payable outstanding | 69d | 62d | 170d | 262d |
| Cash conversion cycle | 100d | 211d | 540d | 174d |
| Valuation | ||||
| P / E | - | - | - | - |
| P / B | 0.1x | 8.8x | 13.8x | - |
| P / S | 0.2x | 19.9x | 65.4x | - |
| EV / EBITDA | - | - | - | - |
| Growth | ||||
| Revenue growth (YoY) | -2.2% | 15.8% | 26.9% | - |
| Revenue CAGR (3y) | 12.9% | - | - | - |
| Revenue CAGR (5y) | - | - | - | - |
| Gross profit growth (YoY) | 51.4% | -36.4% | -8.1% | - |
| Operating income growth (YoY) | 79.2% | -31.3% | -100.5% | - |
| Net income growth (YoY) | 72.9% | -44.7% | -24.7% | - |
| EPS growth (YoY) | 77.9% | 48.5% | - | - |
| EPS CAGR (3y) | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - |
| FCF growth (YoY) | 62.0% | 30.2% | -69.8% | - |
| FCF CAGR (5y) | - | - | - | - |
| Book value growth (YoY) | -40.1% | -44.5% | 59.9% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2023-12-31.
Business segments
$17.42M totalNon Cannabinoid$10.86M · 62.3%
Cannabinoid$6.56M · 37.7%
Geographic
$17.42M totalUS$10.86M · 62.3%
BR$3.10M · 17.8%
AU$1.68M · 9.7%
Other Countries Not Separately Disclosed$941.0K · 5.4%
IL$600.0K · 3.4%
DE$235.0K · 1.3%
Stability scores
Altman Z′
FY 2023 · bankruptcy risk
-4.75
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 2023 · 9-point quality
5/9
Neutral
- ✗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: Pharmaceutical Preparations
Comparing Clever Leaves Holdings Inc. against the 5 most active filers in the same SIC group.