Agnt (AGNT) FY2023 results: revenue $4.3 billion, down 6.9% on the year

Agnt, Inc. (AGNT) reported revenue of $4.3 billion for fiscal 2023, the year ended 31 December 2023, down 6.9% on the year before. Net income was -$9 million, and diluted earnings per share $-0.06. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.

Revenue

$4.3 billion

-6.9% on the year

FY2016FY2023

Operating margin

0.0%

0.4% a year earlier

FY2016FY2023

Net income

-$9 million

FY2016FY2023

Diluted EPS

-$0.06

FY2016FY2023

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2023 · Q2 FY2023 · Q3 FY2023 · Q4 FY2023

Income statement (profit and loss)

$ million	FY2023	FY2022	FY2021	On the year
Revenue	4,281	4,598	3,771	-6.9%
Gross profit	320	n/a	n/a
Gross margin	7.5%	n/a	n/a
Research and development	59.5	54.2	n/a	+9.9%
Operating income	0.5	16.4	34.2	-96.8%
Operating margin	0.0%	0.4%	0.9%
Pre-tax income	3.5	15.5	33.7	-77.4%
Income tax	-0.0	-8.2	-47.5
Effective tax rate	-0.5%	-52.8%	-141.0%
Net income	-9.0	15.4	81.2
Net margin	-0.2%	0.3%	2.2%
Diluted EPS	-$0.06	$0.10	$0.51

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2023	FY2022	FY2021	On the year
Operating cash flow	209	211	247	-0.7%
Capital expenditure	5.4	12.1	13.4	-55.5%
Free cash flow	204	198	233	+2.7%
Free cash flow margin	4.8%	4.3%	6.2%
Cash from investing	-13.5	-22.5	-18.9
Cash from financing	-184	-205	-180
Depreciation and amortisation	10.9	9.8	6.2	+10.7%
Share-based compensation	n/a	n/a	13.1
Buybacks	161	179	172	-10.5%
Dividends paid	28.5	25.2	11.5	+13.0%
Dividend per share	$0.05	n/a	n/a
Diluted shares, weighted	153m	156m	158m	-1.9%
Shares outstanding at period end	155m	153m	149m	+1.2%

Balance sheet

$ million	FY2023	FY2022	FY2021	On the year
Shareholders' equity	243	248	222	-2.0%
Non-controlling interest	1.2	1.2	1.4	0.0%
Debt	0.0	4.7	2.7	-99.6%
Operating lease liabilities	n/a	0.7	0.8
Other liabilities	142	127	187	+11.3%
Total liabilities and equity	386	382	414	+1.0%
Fixed assets	12.0	18.2	15.9	-34.1%
Goodwill	17.0	27.2	12.9	-37.6%
Intangible assets	7.0	8.7	7.5	-19.4%
Cash and equivalents	126	122	108	+3.5%
Receivables	85.3	87.3	133	-2.2%
Other assets	139	119	136	+16.6%
Total assets	386	382	414	+1.0%

10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.