ALRS FY 2020 Earnings Report — Alerus Financial Corporation Revenue & Financial Results | Market Cap Arena

Alerus Financial CorporationALRS

FY 2020 Earnings

Reported March 12, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$240M	—	$205M	—	17.2%
Op. Income	$59M	—	$39M	—	50.4%
Gross Margin	90.3%	—	87.3%	—	3.1pp
Net Margin	18.6%	—	14.4%	—	4.2pp
EPS (Diluted)	$2.52	—	$1.91	—	31.9%
Free Cash Flow	-$26M	—	$16M	—	-259.4%

Revenue Flow

Item	Amount
REVENUE	$240M
Cost of Revenue	$23M
GROSS PROFIT	$217M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$89M
SG&A Expenses	$92M
Other Expenses	$66M
Operating Expenses	$158M
Cost & Expenses	$181M
OPERATING INCOME	$59M
Interest Income	$96M
Interest Expense	$12M
Other Income/Expenses	$0
INCOME BEFORE TAX	$59M
Income Tax Expense	$14M
Net Income from Continuing Ops	$45M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$45M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$9M
EBIT	$59M
EBITDA	$67M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$240M
Cost of Revenue	$23M
GROSS PROFIT	$217M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$89M
SG&A Expenses	$92M
Other Expenses	$66M
Operating Expenses	$158M
Cost & Expenses	$181M
OPERATING INCOME	$59M
Interest Income	$96M
Interest Expense	$12M
Other Income/Expenses	$0
INCOME BEFORE TAX	$59M
Income Tax Expense	$14M
Net Income from Continuing Ops	$45M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$45M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$9M
EBIT	$59M
EBITDA	$67M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$45M
Depreciation & Amortization	$9M
Stock-Based Compensation	$2M
Deferred Income Tax	-$4M
Other Non-Cash Items	-$44M
Change in Working Capital	-$29M
OPERATING CASH FLOW	-$22M
Capital Expenditure	-$4M
Acquisitions (Net)	-$9M
Purchases of Investments	-$415M
Sales/Maturities of Investments	$145M
Other Investing Activities	-$256M
NET CASH FROM INVESTING	-$538M
Net Debt Issuance	-$210.0K
Common Stock Repurchased	-$482.0K
Common Dividends Paid	-$10M
Other Financing Activities	$601M
NET CASH FROM FINANCING	$590M
FREE CASH FLOW	-$26M
Net Change in Cash	$29M

Balance Sheet

Item	Amount
Cash & Equivalents	$173M
Short-Term Investments	$592M
Net Receivables	$24M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$794M
PP&E (Net)	$27M
Goodwill	$30M
Intangible Assets	$28M
Long-Term Investments	$2.1B
Tax Assets	$9M
Other Non-Current Assets	$44M
TOTAL NON-CURRENT ASSETS	$2.2B
TOTAL ASSETS	$3.0B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$2.6B
TOTAL CURRENT LIABILITIES	$2.6B
Long-Term Debt	$58M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$67M
TOTAL LIABILITIES	$2.7B
Common Stock	$17M
Additional Paid-In Capital	$90M
Retained Earnings	$212M
Treasury Stock	$0
Accum. Other Comp. Income	$11M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$330M
Minority Interest	$0
TOTAL EQUITY	$330M
TOTAL LIABILITIES & EQUITY	$3.0B
Total Debt	$67M
Net Debt	-$106M