What was the change in accounts receivable for Bft for the year ended December 31, 2024?
Bft Franchise · 2025 FDDAnswer from 2025 FDD Document
136 | — | | Deferred costs, current portion | 3,906 | 4,065 | | Total current assets | 18,509 | 12,073 | | Property and equipment, net | 7,898 | 11,102 | | Intangible assets, net | 86,485 | 88,881 | | Deferred costs, net of current portion | 36,935 | 45,350 | | Other assets | 563 | — | | Total assets | $ 150,390 | $ 157,406 | | Liabilities and Member's equity | | | | Current Liabilities: | | | | Accrued expenses | $ 877 | 722 | | Deferred revenue, current portion | 14,307 | 9,918 | | Total current liabilities | 15,184 | 10,640 | | | | | | Deferred revenue, net of current portion | 96,065 | 111,320 | | Total liabilities | 111,249 | 121,960 | | Commitments and contingencies (Note 9) | | | | Member's equity: | | | | Member contribution | 48,542 | 51,612 | | Advances to Member, net (Note 7) | (155,034) | (11,690) | | Retained earnings (accumulated deficit) | 145,633 | (4,476) | | Total member's equity | 39,141 | 35,446 | | Total liabilities and member's equity | $ 150,390 | $ 157,406 |
XPOF ASSETCO, LLC CONSOLIDATED STATEMENTS OF OPERATIONS (amounts in thousands)
| Year Ended December 31, 2024 | For the period March 6, 2023 (date of inception) to December 31, 2023 | |
|---|---|---|
| Revenue, net: | ||
| Franchise revenue | $ 160,877 | $ 521 |
| Franchise marketing fund revenue | 31,888 | — |
| Other service revenue | 11,789 | — |
| Total revenue, net | 204,554 | 521 |
| Operating costs and expenses: | ||
| Costs of franchise revenue | 19,596 | 221 |
| Selling, general and administrative expenses | 45 | — |
| Impairment of assets | 2,485 | 180 |
| Depreciation and amortization | 6,605 | 4,596 |
| Marketing fund expense | 25,714 | — |
| Total operating costs and expenses | 54,445 | 4,997 |
| Operating income (loss) | 150,109 | (4,476) |
| Net income (loss) | $ 150,109 | $ (4,476) |
XPOF ASSETCO, LLC CONSOLIDATED STATEMENTS OF CHANGES TO MEMBER'S EQUITY (amounts in thousands)
| 2025 $ | 2,066 |
|---|---|
| 2026 | 2,066 |
| 2027 | 2,064 |
| 2028 | 2,012 |
| 2029 | 1,981 |
| Thereafter | 3,940 |
| Total $ | 14,129 |
XPOF ASSETCO, LLC CONSOLIDATED STATEMENTS OF CASH FLOWS (amounts in thousands)
| Year Ended December 31, 2024 | For the period March 6, 2023 (date of inception) to December 31, 2023 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income (loss) | $ 150,109 | $ (4,476) |
| Adjustments to reconcile net income (loss) to net cash provided by operating | ||
| activities: | ||
| Depreciation and amortization | 6,605 | 4,596 |
| Bad debt expense | 29 | — |
| Loss from disposal of assets | 232 | — |
| Impairment of assets | 2,485 | 180 |
| Changes in assets and liabilities: | ||
| Accounts receivable | (5,895) | — |
| Prepaid expenses and other current assets | (136) | — |
| Deferred costs |
Source: Item 23 — RECEIPTS (FDD pages 79–265)
What This Means (2025 FDD)
According to Bft's 2025 Franchise Disclosure Document, the company's accounts receivable decreased by $5,895 during the year ended December 31, 2024. This figure is derived from the cash flow statement, which shows a change in accounts receivable of ($5,895) as part of the adjustments to reconcile net income to net cash provided by operating activities. This indicates that Bft collected more cash from its customers than it recognized in revenue during that period. For the period March 6, 2023 (date of inception) to December 31, 2023, there was no change listed for accounts receivable.
Additionally, the consolidated balance sheets show the net accounts receivable as $5,874 as of December 31, 2024, and $8 as of December 31, 2023. This balance sheet information provides a snapshot of the outstanding receivables at the end of each year, offering a different perspective from the cash flow statement, which captures the changes during the year. The difference between the $5,874 in 2024 and the $8 in 2023 shows an increase of $5,866 in the net accounts receivable.
Prospective franchisees should understand both the cash flow statement and the balance sheet to get a complete picture of Bft's accounts receivable. The cash flow statement indicates how efficiently Bft is collecting its receivables, while the balance sheet shows the actual amount of outstanding receivables at a specific point in time. A significant increase in accounts receivable could indicate potential issues with collecting payments from customers, which could impact the franchisee's cash flow.