What were Brightstar Care's total current liabilities as of December 31, 2023?
Brightstar_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
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Consolidated Financial Statements
Consolidated Balance Sheets
| December 29, 2024 | December 31, 2023 | ||
|---|---|---|---|
| Assets | |||
| Current Assets | $ | 2,447,666 | $ 267,218 |
| Cash and cash equivalents | |||
| Accounts receivable, net of allowances for credit losses | |||
| of $773,024 and $213,282, respectively | 6,195,961 | 5,986,114 | |
| Prepaid expenses | 1,711,449 | 1,782,560 | |
| Other current assets | 148,277 | 435,628 | |
| Total Current Assets | 10,503,353 | 8,471,520 | |
| Property and Equipment, Net | 9,212,844 | 8,551,823 | |
| Other Long-Term Assets Operating lease - right-of-use asset Notes receivable - affiliated companies, net | 1,576,830 10,531,865 | 137,232 7,287,629 | |
| Total Other Long-Term Assets | 12,108,695 | 7,424,861 | |
| Total Assets | $ | 31,824,892 | $ 24,448,204 |
| Liabilities and Member's Equity | |||
| Current Liabilities Accounts payable Accrued salaries and payroll tax Operating lease liability Other current liabilities | $ | 667,611 3,548,509 58,782 2,744,210 | $ 1,993,783 3,310,197 77,343 3,026,086 |
| Total Current Liabilities | 7,019,112 | 8,407,409 | |
| Long-Term Liabilities | 1,716,558 | - | |
| Operating lease liability, net of current | |||
| Total Long-Term Liabilities |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 117)
What This Means (2025 FDD)
According to Brightstar Care's 2025 Franchise Disclosure Document, the company's total current liabilities as of December 31, 2023, were $8,407,409. This figure represents the sum of Brightstar Care's short-term financial obligations, including accounts payable, accrued salaries and payroll taxes, operating lease liabilities, and other current liabilities. These are the debts and obligations that Brightstar Care is expected to settle within one year.
For a prospective franchisee, understanding the current liabilities of Brightstar Care is crucial for assessing the company's short-term financial health and stability. A high level of current liabilities relative to current assets could indicate potential liquidity issues, meaning the company might struggle to meet its immediate obligations. Conversely, a manageable level of current liabilities suggests that Brightstar Care is in a good position to handle its short-term debts.
It's important to note that while this figure provides a snapshot of Brightstar Care's liabilities at a specific point in time, it doesn't offer a complete picture of the company's overall financial condition. A prospective franchisee should review the entire financial statement, including the balance sheet, income statement, and cash flow statement, to gain a comprehensive understanding of Brightstar Care's financial performance and stability. Additionally, comparing these figures to previous years and industry benchmarks can provide valuable insights into the company's financial trends and competitive position.