Mistras Group, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Mistras Group, Inc. has filed its 2023 10-K annual report detailing its financial performance and corporate information.</b>

AI Summary

Mistras Group, Inc. (MG) filed a Annual Report (10-K) with the SEC on March 11, 2024. Mistras Group, Inc. filed its annual report for the fiscal year ending December 31, 2023. The filing is a 10-K report, providing a comprehensive overview of the company's financial performance and condition. The company's principal business address is 195 Clarksivlle Road, Princeton Junction, NJ 08550. The filing covers the fiscal year from January 1, 2023, to December 31, 2023. Mistras Group, Inc. is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking Mistras Group, Inc., this filing contains several important signals. This 10-K filing provides investors with a detailed look at Mistras Group's financial health, operational strategies, and risk factors for the 2023 fiscal year. Understanding the information within this report is crucial for stakeholders to assess the company's past performance and future outlook.

Risk Assessment

Risk Level: medium — Mistras Group, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine disclosure for public companies. However, the specific financial details and risk factors within the report will determine the actual risk level.

Analyst Insight

Review the detailed financial statements and risk factor disclosures within the 10-K to assess Mistras Group's financial health and operational challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-11 — Filing Date (Date the report was submitted)

Key Players & Entities

• Mistras Group, Inc. (company) — Filer and subject of the report
• 195 Clarksivlle Road, Princeton Junction, NJ 08550 (address) — Business and mailing address
• 2023-12-31 (date) — Fiscal year end
• 2024-03-11 (date) — Filing date

FAQ

Industry Context

Mistras Group operates in the engineering services industry, providing asset protection solutions.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit annual reports.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and debt levels.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance.
3. Examine the Risk Factors section for potential challenges and uncertainties facing the company.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-11: Filing Date — The date Mistras Group, Inc. submitted its 10-K to the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted. A comparison to a prior filing would require data from a previous report.

Key Financial Figures

• $7.72 — gistrant, based on the closing price of $7.72 on June 30, 2023, the last business day
• $705.5 m — laboratories. We generated revenues of $705.5 million, $687.4 million and $677.1 millio
• $687.4 million — e generated revenues of $705.5 million, $687.4 million and $677.1 million for the years ended
• $677.1 million — s of $705.5 million, $687.4 million and $677.1 million for the years ended December 31, 2023,
• $17.4 m — respectively. We generated net loss of $17.4 million, a net income of $6.6 million and
• $6.6 million — loss of $17.4 million, a net income of $6.6 million and net loss of $3.9 million for the ye
• $3.9 million — income of $6.6 million and net loss of $3.9 million for the years ended December 31, 2023,

Filing Documents

• mg-20231231.htm (10-K) — 2219KB
• mistras-employmentagreemen.htm (EX-10.16) — 125KB
• mistrasgroupinc-stamatakis.htm (EX-10.18) — 41KB
• insidertradingcompliancepo.htm (EX-19.1) — 66KB
• a20211231subsidiarylisting.htm (EX-21.1) — 17KB
• a12312023-consentfrompwcex.htm (EX-23.1) — 2KB
• mistrasgroupincfy23kpmgcon.htm (EX-23.2) — 2KB
• a1231202310kexhibit311.htm (EX-31.1) — 16KB
• a1231202310kexhibit312.htm (EX-31.2) — 15KB
• a1231202310kexhibit321.htm (EX-32.1) — 7KB
• a1231202310kexhibit322.htm (EX-32.2) — 7KB
• mistrascompensationrecoupm.htm (EX-97.1) — 42KB
• mg-20231231_g1.jpg (GRAPHIC) — 98KB
• mg-20231231_g2.jpg (GRAPHIC) — 99KB
• mg-20231231_g3.jpg (GRAPHIC) — 108KB
• mg-20231231_g4.jpg (GRAPHIC) — 53KB
• 0001436126-24-000025.txt (&nbsp;) — 13818KB
• mg-20231231.xsd (EX-101.SCH) — 73KB
• mg-20231231_cal.xml (EX-101.CAL) — 135KB
• mg-20231231_def.xml (EX-101.DEF) — 327KB
• mg-20231231_lab.xml (EX-101.LAB) — 951KB
• mg-20231231_pre.xml (EX-101.PRE) — 683KB
• mg-20231231_htm.xml (XML) — 2273KB

BUSINESS

BUSINESS 3 ITEM 1A.

RISK FACTORS

RISK FACTORS 21 ITEM 1B. UNRESOLVED STAFF COMMENTS 29

C

ITEM 1 C . CYBERSECURITY 29 ITEM 2.

PROPERTIES

PROPERTIES 31 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 31 ITEM 4. MINE SAFETY DISCLOSURES 31 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 31 ITEM 6. Reserved 32 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 33 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 45 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 47 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 81 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 82 ITEM 9B. OTHER INFORMATION 82 ITEM 9C. D ISCLOSURES REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 82 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 82 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 82 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 83 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 83 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 83 PART IV ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 83 ITEM 16. FORM 10-K SUMMARY 85 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this "Annual Report") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), regarding Mistras Group, Inc. ("Mistras," "MISTRAS," "the Company," "us," "we," "our" and similar expressions) and our business, financial condition, results of operations and prospects. Such forward-looking statements include those that express plans, anticipation, intent, contingency, goals, targets or future development and/or otherwise are not statements of historical fact. These forward-looking statements are based on our current expectations and projections about future events and they are subject to risks and uncertainties known and unknown that could cause actual results and developments to differ materially from those expressed or implied in such statements. In some cases, you can identify forward-looking statements by terminology, such as "goals," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "may," "could," "should," "would," "predicts," "appears," "projects," or the negative of such terms or other similar expressions, although the absence of such words does not mean that a statement is not forward-looking. Factors that could cause or contribute to differences in results and outcomes from those in our forward-looking statements include, without limitation, those discussed elsewhere in this Annual Report in Part I, Item 1A. "Risk Factors," Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" and in this Item 1. We undertake no obligation to (and expressly disclaim any obligation to) revise or update any forward-looking statements made herein whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

View Full Filing

View this 10-K filing on SEC EDGAR