Smart for Life, Inc. (SMFL) Balance Sheet
SMFL balance sheet, 2024
December 31, 2024 · U.S. dollars$19.7M assets = $26.0M liabilities + −$6.4M equity
Liabilities exceed assets: shareholders’ equity is negative (−$6.4M).
Both columns are drawn to the same scale: what SMFL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SMFL financial health
Descriptive bands, not a rating. Fiscal 2024.
SMFL balance sheet trends, 2019–2024
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.4M2019 | $19.7M2024 | +52.7%/yr | |
| Total liabilities | $6.5M2019 | $26.0M2024 | +32.2%/yr | |
| Shareholders’ equity | −$4.1M2019 | −$6.4M2024 | — | |
| Cash & short-term investments | $12,2122019 | $188,5962024 | +72.9%/yr | |
| Total debt | $4.2M2019 | $14.5M2024 | +27.8%/yr | |
| Net cash (debt) | −$4.2M2019 | −$14.3M2024 | −$10.0M | |
| Working capital | −$5.3M2019 | −$19.7M2024 | −$14.5M | |
| Current ratio | 0.122019 | 0.112024 | −0.01 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SMFL assets
SMFL liabilities and equity
SMFL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SMFL balance sheet
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $188,596 | $188,596 | $69,714 | $205,093 | $484,949 | $12,212 |
| Cash & equivalents | $188,596 | $188,596 | $69,714 | $205,093 | $484,949 | $12,212 |
| Receivables | $402,373 | $70,231 | $540,072 | $388,958 | $69,325 | $125,477 |
| Inventory | $1.2M | $1.2M | $2.7M | $3.4M | $58,426 | $566,396 |
| Other current assets | $497,964 | $830,106 | $328,689 | $352,909 | $77,051 | $12,276 |
| Total current assets | $2.3M | $2.3M | $3.6M | $4.3M | $689,751 | $716,361 |
| Property, plant & equipment (net) | $2.1M | $2.1M | $3.2M | $2.4M | $876,328 | $1.3M |
| Goodwill & intangible assets | $14.1M | $14.1M | $22.3M | $15.8M | $285,627 | $340,910 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.1M | $1.1M | $109,638 | $61,877 | $115,663 | $36,697 |
| Total assets | $19.7M | $19.7M | $29.1M | $22.6M | $2.0M | $2.4M |
| Liabilities | ||||||
| Accounts payable | $3.6M | $3.6M | $3.3M | $2.1M | $986,632 | $992,153 |
| Short-term debt | $10.9M | — | $6.9M | $11.7M | $4.2M | $3.8M |
| Deferred revenue | $464,721 | — | $662,879 | $681,786 | $194,020 | $162,830 |
| Total current liabilities | $22.1M | $22.1M | $15.1M | $17.1M | $6.9M | $6.0M |
| Long-term debt | $0 | $1.7M | $13.9M | $10.0M | $1.9M | $0 |
| Lease obligations | — | $2.1M | $2.7M | $2.0M | $473,269 | $686,502 |
| Other long-term liabilities | $4.0M | $2.2M | $2.4M | $1.6M | $223,985 | $473,270 |
| Total liabilities | $26.0M | $26.0M | $31.5M | $28.7M | $9.1M | $6.5M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $37 | — | $8 | $1,394 | $1,381 | $200 |
| Retained earnings (deficit) | −$67.7M | −$67.7M | −$45.0M | −$15.0M | −$7.2M | −$4.1M |
| Accumulated other comprehensive income | −$450,562 | — | — | — | $0 | — |
| Total shareholders' equity | −$6.4M | −$6.4M | −$2.4M | −$6.1M | −$7.1M | −$4.1M |
| Key figures | ||||||
| Total debt | $14.5M | $1.7M | $22.4M | $23.2M | $6.4M | $4.2M |
| Net cash (debt) | −$14.3M | −$1.6M | −$22.3M | −$23.0M | −$5.9M | −$4.2M |
| Working capital | −$19.7M | −$19.7M | −$11.5M | −$12.8M | −$6.2M | −$5.3M |
| Tangible book value | −$20.5M | −$20.5M | −$24.6M | −$21.9M | −$7.4M | −$4.4M |
| Current ratio | 0.11 | 0.11 | 0.24 | 0.25 | 0.10 | 0.12 |
| Quick ratio | 0.03 | 0.01 | 0.04 | 0.03 | 0.08 | 0.02 |
| Equity / assets | −32.5% | −32.5% | −8.1% | −26.9% | −362.2% | −172.0% |
| Mar '25 | Jun '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | Jun '22 | Mar '22 | Dec '21 | Sep '21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $35,608 | $188,596 | $188,596 | $8,890 | $375,682 | $86,194 | $69,714 | $303,533 | $107,335 | $1.6M | $205,093 | $690,101 |
| Cash & equivalents | $35,608 | $188,596 | $188,596 | $8,890 | $375,682 | $86,194 | $69,714 | $303,533 | $107,335 | $1.6M | $205,093 | $690,101 |
| Receivables | $809,680 | $402,373 | $70,231 | $412,547 | $521,800 | $278,745 | $561,894 | $2.1M | $2.1M | $1.2M | $388,958 | $490,780 |
| Inventory | $747,172 | $1.2M | $1.2M | $2.0M | $1.9M | $2.1M | $2.7M | $5.6M | $4.9M | $4.0M | $3.4M | $3.0M |
| Other current assets | $68,433 | $497,964 | $830,106 | $139,928 | $358,000 | $318,109 | $306,867 | $299,160 | $1.3M | $400,633 | $352,909 | $113,622 |
| Total current assets | $1.7M | $2.3M | $2.3M | $2.5M | $3.1M | $2.8M | $3.6M | $8.3M | $8.4M | $7.2M | $4.3M | $4.3M |
| Property, plant & equipment (net) | $1.2M | $2.1M | $2.1M | $2.7M | $2.9M | $3.0M | $3.2M | $2.5M | $2.7M | $2.3M | $2.4M | $2.1M |
| Goodwill & intangible assets | $9.8M | $14.1M | $14.1M | $20.2M | $20.7M | $21.7M | $22.3M | $23.2M | $15.1M | $15.4M | $15.8M | $9.4M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $66,291 | $1.1M | $1.1M | $98,947 | $268,611 | $114,062 | $109,638 | $63,699 | $61,877 | $61,877 | $61,877 | $61,877 |
| Total assets | $12.7M | $19.7M | $19.7M | $25.5M | $27.0M | $27.6M | $29.1M | $34.1M | $26.2M | $25.0M | $22.6M | $15.8M |
| Liabilities | ||||||||||||
| Accounts payable | $3.6M | $3.6M | $3.6M | $4.2M | $3.7M | $4.8M | $3.3M | $3.4M | $2.9M | $2.2M | $2.1M | $1.9M |
| Short-term debt | $2.4M | $10.9M | — | $5.1M | $5.5M | $8.5M | $7.2M | $8.9M | $4.4M | $5.1M | $11.7M | $6.7M |
| Deferred revenue | $409,820 | $464,721 | — | $750,739 | $640,330 | $770,777 | $662,879 | $978,041 | $1.2M | $920,320 | $681,786 | $225,287 |
| Total current liabilities | $9.8M | $22.1M | $22.1M | $13.9M | $12.8M | $18.0M | $15.1M | $16.8M | $11.5M | $10.5M | $17.1M | $10.2M |
| Long-term debt | $0 | $0 | $1.7M | $8.5M | $7.4M | $13.8M | $13.9M | $13.5M | $8.9M | $5.5M | $10.0M | $7.9M |
| Lease obligations | — | — | $2.1M | $2.5M | $2.6M | $2.7M | $2.7M | $2.0M | $2.1M | $1.8M | $2.0M | $794,478 |
| Other long-term liabilities | $1.9M | $4.0M | $2.2M | $2.2M | $2.2M | $2.3M | $2.4M | $1.8M | $1.8M | $1.5M | $1.6M | $289,936 |
| Total liabilities | $11.8M | $26.0M | $26.0M | $24.6M | $22.4M | $34.1M | $31.5M | $32.1M | $22.2M | $17.5M | $28.7M | $18.4M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $709 | $37 | — | $63 | $145 | $79 | $8 | $3,194 | $3,193 | $3,166 | $1,394 | $1,387 |
| Retained earnings (deficit) | −$76.0M | −$67.7M | −$67.7M | −$57.8M | −$53.5M | −$49.3M | −$45.0M | −$36.9M | −$35.0M | −$31.6M | −$15.0M | −$11.3M |
| Accumulated other comprehensive income | — | — | — | −$600,750 | −$4 | — | — | — | — | −$440,834 | — | $0 |
| Total shareholders' equity | $938,457 | −$6.4M | −$6.4M | $951,836 | $4.6M | −$6.6M | −$2.4M | $2.1M | $4.0M | $7.4M | −$6.1M | −$2.6M |
| Key figures | ||||||||||||
| Total debt | $3.3M | $14.5M | $1.7M | $15.4M | $15.2M | $24.3M | $25.6M | $25.9M | $15.1M | $13.7M | $22.8M | $14.9M |
| Net cash (debt) | −$3.3M | −$14.3M | −$1.6M | −$15.4M | −$14.8M | −$24.2M | −$25.6M | −$25.6M | −$15.0M | −$12.1M | −$22.6M | −$14.2M |
| Working capital | −$8.2M | −$19.7M | −$19.7M | −$11.4M | −$9.6M | −$15.2M | −$11.5M | −$8.5M | −$3.1M | −$3.3M | −$12.8M | −$5.9M |
| Tangible book value | −$8.8M | −$20.5M | −$20.5M | −$19.2M | −$16.2M | −$28.3M | −$24.6M | −$21.2M | −$11.1M | −$8.0M | −$21.9M | −$11.9M |
| Book value per share | $0.27 | — | — | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 3.5M | — | — | — | — | — | — | — | — | — | — | — |
| Current ratio | 0.17 | 0.11 | 0.11 | 0.18 | 0.25 | 0.15 | 0.24 | 0.49 | 0.73 | 0.69 | 0.25 | 0.42 |
| Quick ratio | 0.09 | 0.03 | 0.01 | 0.03 | 0.07 | 0.02 | 0.04 | 0.14 | 0.19 | 0.26 | 0.03 | 0.12 |
| Debt / equity | 3.55 | — | — | 16.19 | 3.33 | — | — | 12.64 | 3.77 | 1.84 | — | — |
| Equity / assets | 7.4% | −32.5% | −32.5% | 3.7% | 16.9% | −23.9% | −8.1% | 6.0% | 15.3% | 29.8% | −26.9% | −16.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed September 20, 2024); data from EODHD.
SMFL financial position
At the end of fiscal 2024 (December 31, 2024), Smart for Life had total assets of $19.7 million (up 0.0% from a year earlier), total liabilities of $26.0 million and shareholders' equity of -$6.4 million. It held $0.2 million in cash and short-term investments against $14.5 million of debt, net debt of $14.3 million. Its current ratio was 0.11. In the latest quarter (ended March 31, 2025) total assets were $12.7 million and equity $0.9 million.
Related: SMFL income statement, SMFL cash flow statement, SMFL key metrics. See the SMFL stock overview for the latest quote and news.
SMFL balance sheet FAQ
What are Smart for Life's total assets?
Smart for Life reported total assets of $19.7 million at the end of fiscal 2024 (December 31, 2024), compared with $19.7 million a year earlier.
How much debt does Smart for Life have?
Smart for Life had $14.5 million of total debt at the end of fiscal 2024, including short-term borrowings. Its debt-to-equity ratio was —.
How much cash does Smart for Life have?
Smart for Life held $0.2 million in cash and short-term investments at the end of fiscal 2024; with $14.5 million of debt that is net debt of $14.3 million.
What is Smart for Life's book value?
Smart for Life's shareholders' equity (book value) was -$6.4 million at the end of fiscal 2024.
What is Smart for Life's current ratio?
Smart for Life had current assets of $2.3 million and current liabilities of $22.1 million, a current ratio of 0.11 (current liabilities exceed current assets).
How much goodwill does Smart for Life have?
Smart for Life carried $14.1 million of goodwill and intangible assets, 71.7% of total assets, at the end of fiscal 2024.