SFT · Shift Technologies, 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 |
|---|---|---|---|---|
| Revenue | $670.75M | $636.87M | $195.72M | - |
| Cost of Revenue | $645.42M | $588.08M | $183.54M | - |
| Gross Profit | $25.33M | $48.79M | $12.18M | - |
| R&D | - | - | - | - |
| SG&A | $214.01M | $220.06M | $83.90M | - |
| Total Operating Expenses | $262.78M | $225.64M | $88.43M | $765.0K |
| D&A | $11.79M | $6.25M | $4.54M | - |
| Operating Income | ($237.45M) | ($176.85M) | ($76.25M) | ($765.0K) |
| Interest Expense | - | - | - | - |
| Income Tax | $326.0K | $226.0K | $0 | $502.5K |
| Net Income | ($172.04M) | ($166.27M) | ($59.15M) | $1.33M |
| EPS - Basic | ($19.92) | ($3.12) | - | - |
| EPS - Diluted | ($19.92) | ($3.12) | - | - |
Balance Sheet
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|
| Cash & Equivalents | $96.16M | $182.62M | $42.98M | $406.7K |
| Accounts Receivable | $4.56M | $20.08M | $1.84M | - |
| Inventory | $40.92M | $122.74M | $18.20M | - |
| Accounts Payable | $12.09M | $15.18M | $1.97M | - |
| Current Assets | $178.42M | $332.83M | $296.93M | $480.7K |
| Total Assets | $248.02M | $365.74M | $312.09M | $153.72M |
| Current Liabilities | $95.36M | $142.37M | $46.83M | $712.2K |
| Long-term Debt | $163.36M | - | - | - |
| Total Liabilities | $307.80M | $290.47M | $74.91M | $7.13M |
| Stockholders' Equity | ($59.79M) | $75.27M | $237.18M | $5.00M |
| Retained Earnings | ($612.75M) | ($440.71M) | ($274.44M) | $1.32M |
Cash Flow
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|
| Operating Cash Flow | ($110.42M) | ($211.05M) | ($85.85M) | ($629.6K) |
| Investing Cash Flow | $66.00M | ($14.14M) | ($4.88M) | ($150.64M) |
| Financing Cash Flow | ($42.07M) | $183.99M | $281.70M | $151.66M |
| CapEx | $4.67M | $7.52M | $984.0K | - |
| Free Cash Flow | ($115.08M) | ($218.57M) | ($86.84M) | - |
Ratios
| Metric | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|
| Profitability | ||||
| Gross margin | 3.8% | 7.7% | 6.2% | - |
| Operating margin | -35.4% | -27.8% | -39.0% | - |
| EBITDA margin | -33.6% | -26.8% | -36.6% | - |
| Net margin | -25.6% | -26.1% | -30.2% | - |
| Free cash flow margin | -17.2% | -34.3% | -44.4% | - |
| FCF / Net income | 0.67 | 1.31 | 1.47 | - |
| R&D / Revenue | - | - | - | - |
| SG&A / Revenue | 31.9% | 34.6% | 42.9% | - |
| Effective tax rate | - | - | - | 27.5% |
| Return on assets | -69.4% | -45.5% | -19.0% | 0.9% |
| Return on equity | 287.8% | -220.9% | -24.9% | 26.5% |
| Return on invested capital | -181.1% | - | - | - |
| Liquidity | ||||
| Current ratio | 1.87 | 2.34 | 6.34 | 0.67 |
| Quick ratio | 1.44 | 1.48 | 5.95 | 0.67 |
| Cash ratio | 1.01 | 1.28 | 0.92 | 0.57 |
| Leverage | ||||
| Debt / Equity | -2.73 | - | - | - |
| Debt / Assets | 0.66 | - | - | - |
| Debt / EBITDA | - | - | - | - |
| Interest coverage | - | - | - | - |
| Equity multiplier | -4.15 | 4.86 | 1.32 | 30.74 |
| Liabilities / Assets | 1.24 | 0.79 | 0.24 | 0.05 |
| Efficiency | ||||
| Asset turnover | 2.70 | 1.74 | 0.63 | - |
| Inventory turnover | 15.77 | 4.79 | 10.09 | - |
| Days sales outstanding | 2d | 12d | 3d | - |
| Days inventory outstanding | 23d | 76d | 36d | - |
| Days payable outstanding | 7d | 9d | 4d | - |
| Cash conversion cycle | 19d | 78d | 36d | - |
| Valuation | ||||
| P / E | - | - | - | - |
| P / B | - | - | - | - |
| P / S | - | - | - | - |
| EV / EBITDA | - | - | - | - |
| Growth | ||||
| Revenue growth (YoY) | 5.3% | 225.4% | - | - |
| Revenue CAGR (3y) | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - |
| Gross profit growth (YoY) | -48.1% | 300.5% | - | - |
| Operating income growth (YoY) | -34.3% | -131.9% | -9867.8% | - |
| Net income growth (YoY) | -3.5% | -181.1% | - | - |
| EPS growth (YoY) | -538.5% | - | - | - |
| EPS CAGR (3y) | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - |
| FCF growth (YoY) | 47.3% | -151.7% | - | - |
| FCF CAGR (5y) | - | - | - | - |
| Book value growth (YoY) | - | -68.3% | 4643.6% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2022-12-31.
Business segments
$670.75M totalRetail Segment$582.53M · 86.8%
Wholesale Segment$88.22M · 13.2%
Product / service
$670.75M totalRetail$555.52M · 82.8%
Wholesale Vehicle Revenue$88.22M · 13.2%
Product And Service Other$27.01M · 4.0%
Stability scores
Altman Z′
FY 2022 · bankruptcy risk
-2.21
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: Retail-Auto Dealers & Gasoline Stations
Comparing SHIFT TECHNOLOGIES against the 5 most active filers in the same SIC group.