What was the net income for Bumble Roofing in 2022, as restated?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
NSOLIDATED STATEMENTS OF INCOME FOR THE YEARS ENDING SEPTEMBER 30, 2024, 2023, AND 2022
| 2024 | 2023 ("As Restated") | 2022 ("As Restated") | |
|---|---|---|---|
| Revenue | |||
| Fencing and rail revenues | $ 24,961,275 | $ 23,390,797 | $ 16,879,944 |
| Franchise royalties and fees | 31,551,158 | 21,471,627 | 13,380,514 |
| Product sales | 11,624,045 | 9,875,832 | 8,878,823 |
| Residential and commercial roofing | 5,849,769 | 4,131,506 | - |
| Window and door installation | 3,448,901 | 1,058,329 | - |
| Franchise fees | 12,430,539 | 10,807,586 | 5,641,473 |
| Ancillary | 7,854,946 | 5,721,908 | 2,553,819 |
| Advertising fund contributions | 4,525,890 | 3,075,049 | 2,159,470 |
| 102,246,523 | 79,532,634 | 49,494,043 | |
| Cost of Product Sales | 26,068,176 | 24,051,826 | 16,544,077 |
| Operating Expenses | 45,261,207 | 37,487,987 | 21,404,407 |
| Income from Operations | 30,917,140 | 17,992,821 | 11,545,559 |
| Other Income (Expense) | |||
| Depreciation and amortization | (10,773,355) | (7,910,727) | (5,494,567) |
| Other income | 315,233 | (161,414) | 38,521 |
| (10,458,122) | (8,072,141) | (5,456,046) | |
| Net Income Before Noncontrolling Interest | 20,459,018 | 9,920,680 | 6,089,513 |
| Loss Attributable to Noncontrolling Interest | 176,630 | 120,083 | - |
| Net Income Attributable to O |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the net income attributable to Outdoor Living Brands Holdco, LLC for 2022, as restated, was $6,089,513. This figure represents the company's profit after all expenses, including the cost of product sales and operating expenses, have been deducted from total revenues. This restated net income reflects adjustments made to the initial financial reporting, providing a more accurate view of the company's financial performance for that year.
For a prospective franchisee, this net income figure is an indicator of Bumble Roofing's overall financial health and profitability during 2022. While past performance is not a guarantee of future results, a healthy net income suggests that the company was operating efficiently and generating profits. This can be reassuring for franchisees who are considering investing in the brand. It is important to note that this net income is for the entire company, not just the franchising side of the business.
Additionally, the FDD also shows the restated net income before noncontrolling interest for 2022 was also $6,089,513. This is the income before deducting any earnings attributable to minority shareholders or partners who hold less than a controlling interest in the company. The document also shows that the previously stated net income was $4,434,302, with a change of $1,655,211 resulting in the restated amount.
Reviewing these figures in the context of Bumble Roofing's overall financial statements, including revenue, expenses, assets, and liabilities, will provide a more comprehensive understanding of the company's financial position. Prospective franchisees should also compare these figures to industry benchmarks and the performance of other franchise systems to assess the relative strength and potential of a Bumble Roofing franchise.