BCAL FY 2023 Earnings Report — Southern California Bancorp Revenue & Financial Results | Market Cap Arena

Southern California BancorpBCAL

FY 2023 Earnings

Reported March 15, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$127M	—	$98M	—	29.5%
Op. Income	$37M	—	$22M	—	67.7%
Gross Margin	76.1%	—	88.0%	—	-11.9pp
Net Margin	20.4%	—	16.4%	—	4.0pp
EPS (Diluted)	$1.39	—	$0.88	—	58.0%
Free Cash Flow	$33M	—	$12M	—	167.3%

Revenue Flow

Item	Amount
REVENUE	$127M
Cost of Revenue	$30M
GROSS PROFIT	$97M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$40M
SG&A Expenses	$40M
Other Expenses	$20M
Operating Expenses	$60M
Cost & Expenses	$90M
OPERATING INCOME	$37M
Interest Income	$124M
Interest Expense	$29M
Other Income/Expenses	$0
INCOME BEFORE TAX	$37M
Income Tax Expense	$11M
Net Income from Continuing Ops	$26M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$26M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$2M
EBIT	$37M
EBITDA	$39M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$127M
Cost of Revenue	$30M
GROSS PROFIT	$97M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$40M
SG&A Expenses	$40M
Other Expenses	$20M
Operating Expenses	$60M
Cost & Expenses	$90M
OPERATING INCOME	$37M
Interest Income	$124M
Interest Expense	$29M
Other Income/Expenses	$0
INCOME BEFORE TAX	$37M
Income Tax Expense	$11M
Net Income from Continuing Ops	$26M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$26M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$2M
EBIT	$37M
EBITDA	$39M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$26M
Depreciation & Amortization	$2M
Stock-Based Compensation	$5M
Deferred Income Tax	$418.0K
Other Non-Cash Items	$2M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$33M
Capital Expenditure	-$302.0K
Acquisitions (Net)	$0
Purchases of Investments	-$68M
Sales/Maturities of Investments	$48M
Other Investing Activities	-$59M
NET CASH FROM INVESTING	-$79M
Net Debt Issuance	$35M
Common Stock Repurchased	-$889.0K
Common Dividends Paid	$0
Other Financing Activities	$12M
NET CASH FROM FINANCING	$46M
FREE CASH FLOW	$33M
Net Change in Cash	$33.0K

Balance Sheet

Item	Amount
Cash & Equivalents	$33M
Short-Term Investments	$130M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$163M
PP&E (Net)	$23M
Goodwill	$38M
Intangible Assets	$1M
Long-Term Investments	$2.0B
Tax Assets	$11M
Other Non-Current Assets	$129M
TOTAL NON-CURRENT ASSETS	$2.2B
TOTAL ASSETS	$2.4B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$1.9B
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$103M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$14M
TOTAL NON-CURRENT LIABILITIES	$129M
TOTAL LIABILITIES	$2.1B
Common Stock	$222M
Additional Paid-In Capital	$0
Retained Earnings	$71M
Treasury Stock	$0
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$288M
Minority Interest	$0
TOTAL EQUITY	$288M
TOTAL LIABILITIES & EQUITY	$2.4B
Total Debt	$115M
Net Debt	$82M