Holley Inc
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 14, 2024
HLLY$2.610.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Comprehensive Income (Loss)
(in thousands)
| For the years ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Net sales | $659,704 | $688,415 | $692,847 |
| Cost of goods sold | 403,615 | 434,757 | 406,040 |
| Gross profit | 256,089 | 253,658 | 286,807 |
| Selling, general, and administrative | 120,244 | 150,728 | 116,793 |
| Research and development costs | 23,844 | 29,083 | 28,280 |
| Amortization of intangible assets | 14,557 | 14,683 | 13,999 |
| Impairment of indefinite-lived intangible assets | — | 2,395 | — |
| Acquisition and restructuring costs | 2,641 | 4,513 | 23,668 |
| Related party acquisition and management fee costs | — | — | 25,789 |
| Other operating expense | 765 | 1,514 | 755 |
| Total operating expense | 162,051 | 202,916 | 209,284 |
| Operating income | 94,038 | 50,742 | 77,523 |
| Change in fair value of warrant liability | 4,111 | (57,021) | 32,580 |
| Change in fair value of earn-out liability | 2,303 | (10,731) | 8,875 |
| Loss (gain) on early extinguishment of debt | (701) | — | 13,650 |
| Interest expense, net | 60,746 | 40,227 | 39,128 |
| Total non-operating expense (income) | 66,459 | (27,525) | 94,233 |
| Income (loss) before income taxes | 27,579 | 78,267 | (16,710) |
| Income tax expense | 8,399 | 4,493 | 10,429 |
| Net income (loss) | $19,180 | $73,774 | $(27,139) |
| Comprehensive income (loss): | |||
| Foreign currency translation adjustment | 234 | (990) | 30 |
| Pension liability gain | — | 302 | 388 |
| Total other comprehensive income (loss) | 234 | (688) | 418 |
| Total comprehensive income (loss) | $19,414 | $73,086 | $(26,721) |
| Common Share Data: | |||
| Weighted average common shares outstanding - basic | 117,378,854 | 116,762,928 | 89,959,993 |
| Weighted average common shares outstanding - diluted | 118,510,800 | 117,248,296 | 89,959,993 |
| Basic net income (loss) per share | $0.16 | $0.63 | $(0.30) |
| Diluted net income (loss) per share | $0.16 | $0.14 | $(0.30) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.