BROADWIND INC

For the period ended Jun 30, 2024. Filed Aug 13, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 13, 2024

BWEN$2.83+5.2%Stored close · as of Nov 9, 2026

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Contents

Condensed Consolidated Balance Sheets

(in thousands, except share and per share data)

June 30, · December 31,
2024 · 2023
ASSETS
CURRENT ASSETS:
Cash		$938	$1,099
Accounts receivable, net		14,172	19,231
AMP credit receivable		1,691	7,051
Contract assets		1,157	1,460
Inventories		38,802	37,405
Prepaid expenses and other current assets		2,390	3,500
Total current assets		59,150	69,746
LONG-TERM ASSETS:
Property and equipment, net		46,266	47,123
Operating lease right-of-use assets, net		14,748	15,593
Intangible assets, net		1,733	2,064
Other assets		636	630
TOTAL ASSETS		$122,533	$135,156
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Line of credit and current maturities of long-term debt		$12,012	$5,903
Current portion of finance lease obligations		2,098	2,153
Current portion of operating lease obligations		1,987	1,851
Accounts payable		15,950	20,728
Accrued liabilities		4,347	6,477
Customer deposits		2,772	16,500
Total current liabilities		39,166	53,612
LONG-TERM LIABILITIES:
Long-term debt, net of current maturities		5,945	6,250
Long-term finance lease obligations, net of current portion		3,481	3,372
Long-term operating lease obligations, net of current portion		14,872	15,888
Other		17	15
Total long-term liabilities		24,315	25,525
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued or outstanding		—	—
Common stock, $0.001 par value; 45,000,000 shares authorized; 22,259,496 and 21,840,301 shares issued as of June 30, 2024, and December 31, 2023, respectively	(1)	22	22
Treasury stock, at cost, 273,937 shares as of June 30, 2024 and December 31, 2023		(1,842)	(1,842)
Additional paid-in capital		400,377	399,336
Accumulated deficit		(339,505)	(341,497)
Total stockholders’ equity		59,052	56,019
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		$122,533	$135,156

(1) Refer to Note 17 “Capitalization”, for additional information regarding the calculation of the number of shares of common stock authorized.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.