What was the net property and equipment value for Clear Pest Pros as of December 31, 2023?
Clear_Pest_Pros Franchise · 2025 FDDAnswer from 2025 FDD Document
ing the audit.
March 19, 2025
Consolidated Balance Sheets (dollars in thousands)
| December 31, | 2024 | 2023 | 2022 (as restated) |
|---|---|---|---|
| Assets | |||
| Current Assets Cash Restricted cash Accounts receivable, net Inventory (Note 6) Notes receivable, current portion net of allowance (Note 7) Prepaid expenses and other current assets | $ 1,242 1,310 2,728 8,673 578 454 | $ 3,701 781 2,338 5,683 639 625 | $ 1,372 345 3,074 4,393 1,661 346 |
| Total Current Assets | 14,985 | 13,767 | 11,191 |
| Right-of-Use Assets, Net | 2,036 | 3,098 | 1,379 |
| Property and Equipment, Net (Note 8) | 1,675 | 2,220 | 1,701 |
| Goodwill (Note 9) | - | 10,519 | 56,056 |
| Intangible Assets, Net (Note 9) | 23,789 | 28,264 | 32,566 |
| Other Assets Notes receivable - net of current portion and allowance (Note 7) Amounts due from related parties (Note 14) Deferred commissions Other noncurrent assets | 793 27,182 649 347 | 1,336 24,688 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 67)
What This Means (2025 FDD)
According to Clear Pest Pros' 2025 Franchise Disclosure Document, the net property and equipment as of December 31, 2023, was $2,220. This figure represents the value of Clear Pest Pros' physical assets, such as machinery, vehicles, furniture, and equipment, after accounting for accumulated depreciation. Depreciation is the reduction in the value of an asset over time due to wear and tear or obsolescence.
For a prospective franchisee, this number provides insight into the capital investment Clear Pest Pros has made in its own infrastructure. It can be used as a benchmark when evaluating the financial health and stability of the company. A higher net property and equipment value might suggest a greater investment in resources that support the franchise system.
However, it's important to consider this figure in conjunction with other financial metrics. For example, comparing the net property and equipment value to the company's revenue and expenses can provide a more comprehensive understanding of its asset utilization and efficiency. Additionally, franchisees should inquire about the age and condition of the assets to assess any potential future capital expenditure requirements for Clear Pest Pros.