ATLO FY 2022 Earnings Report — Ames National Corporation Revenue & Financial Results | Market Cap Arena

Ames National CorporationATLO

FY 2022 Earnings

Reported March 10, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$71M	—	$71M	—	0.3%
Op. Income	$25M	—	$31M	—	-18.0%
Gross Margin	89.6%	—	94.8%	—	-5.2pp
Net Margin	27.1%	—	33.7%	—	-6.6pp
EPS (Diluted)	$2.14	—	$2.62	—	-18.3%
Free Cash Flow	$18M	—	$29M	—	-35.7%

Revenue Flow

Item	Amount
REVENUE	$71M
Cost of Revenue	$7M
GROSS PROFIT	$64M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$24M
SG&A Expenses	$24M
Other Expenses	$15M
Operating Expenses	$39M
Cost & Expenses	$46M
OPERATING INCOME	$25M
Interest Income	$62M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$25M
Income Tax Expense	$6M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$2M
EBIT	$25M
EBITDA	$27M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$71M
Cost of Revenue	$7M
GROSS PROFIT	$64M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$24M
SG&A Expenses	$24M
Other Expenses	$15M
Operating Expenses	$39M
Cost & Expenses	$46M
OPERATING INCOME	$25M
Interest Income	$62M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$25M
Income Tax Expense	$6M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$2M
EBIT	$25M
EBITDA	$27M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$19M
Depreciation & Amortization	$2M
Stock-Based Compensation	$0
Deferred Income Tax	$2M
Other Non-Cash Items	$1M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$21M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$141M
Sales/Maturities of Investments	$96M
Other Investing Activities	-$79M
NET CASH FROM INVESTING	-$127M
Net Debt Issuance	$36M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$10M
Other Financing Activities	$21M
NET CASH FROM FINANCING	$45M
FREE CASH FLOW	$18M
Net Change in Cash	-$61M

Balance Sheet

Item	Amount
Cash & Equivalents	$43M
Short-Term Investments	$786M
Net Receivables	$11M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$840M
PP&E (Net)	$19M
Goodwill	$12M
Intangible Assets	$2M
Long-Term Investments	$1.2B
Tax Assets	$22M
Other Non-Current Assets	$13M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$2.1B
Account Payables	$666.0K
Short-Term Debt	$41M
Deferred Revenue	$0
Other Current Liabilities	$1.9B
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$39M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$41M
TOTAL LIABILITIES	$2.0B
Common Stock	$18M
Additional Paid-In Capital	$14M
Retained Earnings	$180M
Treasury Stock	$0
Accum. Other Comp. Income	-$63M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$149M
Minority Interest	$0
TOTAL EQUITY	$149M
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$80M
Net Debt	$37M