Financial Performance - Total revenue for fiscal year 2023 was 234.2 million in 2022[1] - Gross profit rose to 37.0 million in the previous year[1] - Net income for 2023 was reported at 4.46[2] - Total revenue generated from services increased to 90,812,551, representing a growth of 19% year-over-year[14] - Total revenues reached 234,174,265 in the previous year, marking a significant increase of 65%[14] - Gross profit amounted to 37,049,296, reflecting a growth of 5%[14] - Net income for the period was 17,780,058, indicating a decrease of 0.4%[14] - Basic and diluted earnings per common share were 4.42 in the previous year, showing a modest increase of 0.9%[14] Cash and Cash Equivalents - Cash and cash equivalents at year-end totaled 29.0[2][1] - Cash flows from operating activities provided (28,952,923) in the prior year[16] - The company experienced a net increase in cash and cash equivalents of (24,308,468) in the prior year[17] - Cash and cash equivalents from continuing operations increased to 67,318,573, representing a growth of 70%[18] - Total cash, cash equivalents, and restricted cash amounted to 67,318,573, indicating a 70% increase[18] - Cash and cash equivalents alone rose to 63,901,329, reflecting an increase of about 79%[18] Liabilities and Assets - Total assets increased to 283.4 million in 2022[12] - Total liabilities rose to 93.6 million in 2022[12] - Lease liabilities arising from obtaining right-of-use assets were recorded at 4,070,163 previously[18] Supply Chain and Operations - The company successfully managed the daily supply of 3.6 to 6 million eggs to major online platforms across key regions[4] - Nisun International's supply chain operations now span multiple regions, enhancing market presence[4] - The company has diversified its supply chain solutions to include other agricultural products, positioning for growth in the agricultural sector[4] Cash Flow Activities - Net cash provided by investing activities was 17,837,501 in the previous year, indicating an increase of 11%[16] - The company reported a net cash used in financing activities of (8,344,324) in the previous year[16] Other Financial Metrics - Goodwill impairment loss was recorded at (777,329) in the previous year, indicating increased challenges in asset valuation[14] - Cash paid for interest decreased to 10,385,495, a reduction of approximately 56%[18] - Restricted cash increased to 3,417,244, showing a significant decrease[18] - The company reported a repayment payable for business disposition of 289,973[18] - Issuance of shares for share-based compensation amounted to $71,175[18] - Cash paid for income taxes was not disclosed in the provided data[18]
Nisun(NISN) - 2023 Q4 - Annual Report