BSRR FY 2022 Earnings Report — Sierra Bancorp Revenue & Financial Results | Market Cap Arena

Sierra BancorpBSRR

FY 2022 Earnings

Reported March 9, 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	$142M	—	$131M	—	8.4%
Op. Income	$45M	—	$57M	—	-21.5%
Gross Margin	84.0%	—	99.7%	—	-15.7pp
Net Margin	23.6%	—	32.7%	—	-9.1pp
EPS (Diluted)	$2.24	—	$2.80	—	-20.0%
Free Cash Flow	$32M	—	$52M	—	-38.2%

Revenue Flow

Item	Amount
REVENUE	$142M
Cost of Revenue	$23M
GROSS PROFIT	$120M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$47M
SG&A Expenses	$49M
Other Expenses	$26M
Operating Expenses	$75M
Cost & Expenses	$98M
OPERATING INCOME	$45M
Interest Income	$122M
Interest Expense	$12M
Other Income/Expenses	$0
INCOME BEFORE TAX	$45M
Income Tax Expense	$11M
Net Income from Continuing Ops	$34M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$34M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$34M
D&A	$4M
EBIT	$45M
EBITDA	$48M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$142M
Cost of Revenue	$23M
GROSS PROFIT	$120M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$47M
SG&A Expenses	$49M
Other Expenses	$26M
Operating Expenses	$75M
Cost & Expenses	$98M
OPERATING INCOME	$45M
Interest Income	$122M
Interest Expense	$12M
Other Income/Expenses	$0
INCOME BEFORE TAX	$45M
Income Tax Expense	$11M
Net Income from Continuing Ops	$34M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$34M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$34M
D&A	$4M
EBIT	$45M
EBITDA	$48M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$34M
Depreciation & Amortization	$4M
Stock-Based Compensation	$1M
Deferred Income Tax	$311.0K
Other Non-Cash Items	$13M
Change in Working Capital	-$18M
OPERATING CASH FLOW	$34M
Capital Expenditure	-$1M
Acquisitions (Net)	$0
Purchases of Investments	-$534M
Sales/Maturities of Investments	$130M
Other Investing Activities	-$75M
NET CASH FROM INVESTING	-$481M
Net Debt Issuance	$94M
Common Stock Repurchased	-$5M
Common Dividends Paid	-$14M
Other Financing Activities	$192M
NET CASH FROM FINANCING	$267M
FREE CASH FLOW	$32M
Net Change in Cash	-$180M

Balance Sheet

Item	Amount
Cash & Equivalents	$77M
Short-Term Investments	$935M
Net Receivables	$18M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.0B
PP&E (Net)	$22M
Goodwill	$27M
Intangible Assets	$2M
Long-Term Investments	$2.4B
Tax Assets	$35M
Other Non-Current Assets	$85M
TOTAL NON-CURRENT ASSETS	$2.6B
TOTAL ASSETS	$3.6B
Account Payables	$0
Short-Term Debt	$328M
Deferred Revenue	$0
Other Current Liabilities	$2.8B
TOTAL CURRENT LIABILITIES	$3.2B
Long-Term Debt	$85M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$46M
TOTAL NON-CURRENT LIABILITIES	$131M
TOTAL LIABILITIES	$3.3B
Common Stock	$113M
Additional Paid-In Capital	$4M
Retained Earnings	$243M
Treasury Stock	$0
Accum. Other Comp. Income	-$57M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$304M
Minority Interest	$0
TOTAL EQUITY	$304M
TOTAL LIABILITIES & EQUITY	$3.6B
Total Debt	$413M
Net Debt	$336M