What were the total assets for Kidokinetics in 2023?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
23, 2022, and 2021
| 2023 | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|
| Assets | ||||||
| Current assets | ||||||
| Cash and cash equivalents | $ | 76,964 | $ | 32,500 | $ | 40,556 |
| Accounts receivable | 446,951 | 498 | - | |||
| Deferred contract costs, current | 340,727 | 326,228 | - | |||
| Total current assets | 864,642 | 359,226 | 40,556 | |||
| Non-current assets | ||||||
| Leasehold improvements, net | 36,727 | 48,127 | 55,087 | |||
| Intangible assets, net | 25,107 | 50,553 | 43,554 | |||
| Right of use asset | 24,593 | 81,087 | - | |||
| Deferred contract costs, non-current | 1,173,255 | 282,706 | - | |||
| Other non-current assets | 9,600 | 9,600 | 9,600 | |||
| Total non-current assets | 1,269,282 | 472,073 | 108,241 | |||
| Total assets | $ | 2,133,924 | $ | 831,299 | $ | 148,797 |
| Liabilities and Members' Equity (Deficit) | ||||||
| Current liabil |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, the company's total assets in 2023 were $2,133,924. This figure represents the sum of Kidokinetics's current and non-current assets at the end of the 2023 fiscal year. Current assets include cash and cash equivalents, accounts receivable, and deferred contract costs, while non-current assets include leasehold improvements, intangible assets, right of use asset, deferred contract costs, and other non-current assets.
For a prospective franchisee, understanding the asset composition of Kidokinetics can provide insights into the financial health and stability of the company. A significant portion of Kidokinetics's assets is tied up in deferred contract costs, which are costs associated with franchise agreements that are recognized over the life of the contract. This indicates that Kidokinetics is investing in its franchise network and expects to generate future revenue from these agreements.
It's important to note that while total assets provide a snapshot of the company's resources, they should be evaluated in conjunction with liabilities and equity to get a complete picture of Kidokinetics's financial position. A high level of assets is generally favorable, but it's crucial to assess how those assets are financed and whether the company is generating sufficient returns on its investments. Reviewing the liabilities and equity sections of the balance sheet will provide a more comprehensive understanding of Kidokinetics's financial structure and risk profile.
Prospective franchisees should also compare these figures with previous years to identify any trends or significant changes in Kidokinetics's asset base. This analysis can help assess the company's growth trajectory and its ability to manage its resources effectively. Additionally, it's advisable to consult with a financial advisor to interpret these financial statements and understand their implications for the franchise opportunity.