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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 76,967 $ 141,258
Restricted cash 3,606 4,929
Accounts receivable, net 36,164 34,548
Inventory 182,120 135,473
Prepaid expenses and other current assets 4,756 5,160
Assets held for sale 0 20,560
Total current assets 352,031 373,428
Fixed assets, net 326,111 201,749
Finance lease right-of-use assets, net 64,499 44,081
Operating lease right-of-use assets, net 96,394 53,557
Intangible assets, net 11,541 11,827
Deferred tax assets 0 2,498
Other assets 4,048 2,245
Total non-current assets 502,593 315,957
TOTAL ASSETS 854,624 689,385
Current liabilities    
Accounts payable 75,004 20,997
Accrued expenses and other current liabilities 73,636 81,953
Finance lease-current 2,435 1,363
Operating lease-current 20,296 3,713
Current portion of long-term debt 16,362 13,911
Obligations under inventory financing agreements, net 141,093 117,939
Liabilities held for sale, current 0 3,424
Total current liabilities 328,826 243,300
Long-term debt, net 170,701 170,010
Finance lease-non-current 66,206 45,164
Operating lease-non-current 74,444 49,844
Deferred tax liabilities 2,776 0
Derivative warrant liability 9,907 14,270
Other liabilities 1,377 1,377
Total liabilities 654,237 523,965
EQUITY    
Common stock, $0.001 par value per share; 750,000,000 shares authorized; 93,514,346 and 75,668,826 issued and outstanding at December 31, 2023 and 2022, respectively. 94 76
Additional paid-in capital 383,632 279,552
Accumulated deficit (187,379) (115,893)
Total Vertex Energy, Inc. stockholders' equity 196,347 163,735
Non-controlling interest 4,040 1,685
Total equity 200,387 165,420
TOTAL LIABILITIES AND EQUITY 854,624 689,385
Total prepaid expenses & other current assets $ 53,174 $ 36,660