BWFG FY 2021 Earnings Report — Bankwell Financial Group, Inc. Revenue & Financial Results | Market Cap Arena

Bankwell Financial Group, Inc.BWFG

FY 2021 Earnings

Reported March 8, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$87M	—	$80M	—	8.3%
Op. Income	$34M	—	$7M	—	363.8%
Gross Margin	84.6%	—	62.4%	—	22.2pp
Net Margin	30.5%	—	7.3%	—	23.2pp
EPS (Diluted)	$3.36	—	$0.75	—	348.0%
Free Cash Flow	$39M	—	$2M	—	2026.8%

Revenue Flow

Item	Amount
REVENUE	$87M
Cost of Revenue	$13M
GROSS PROFIT	$74M
R&D Expenses	$0
Selling & Marketing	$404.0K
General & Administrative	$21M
SG&A Expenses	$21M
Other Expenses	$18M
Operating Expenses	$40M
Cost & Expenses	$53M
OPERATING INCOME	$34M
Interest Income	$81M
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$34M
Income Tax Expense	$7M
Net Income from Continuing Ops	$27M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$27M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$4M
EBIT	$34M
EBITDA	$37M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$87M
Cost of Revenue	$13M
GROSS PROFIT	$74M
R&D Expenses	$0
Selling & Marketing	$404.0K
General & Administrative	$21M
SG&A Expenses	$21M
Other Expenses	$18M
Operating Expenses	$40M
Cost & Expenses	$53M
OPERATING INCOME	$34M
Interest Income	$81M
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$34M
Income Tax Expense	$7M
Net Income from Continuing Ops	$27M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$27M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$4M
EBIT	$34M
EBITDA	$37M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$27M
Depreciation & Amortization	$4M
Stock-Based Compensation	$2M
Deferred Income Tax	$2M
Other Non-Cash Items	-$3M
Change in Working Capital	$4M
OPERATING CASH FLOW	$35M
Capital Expenditure	$4M
Acquisitions (Net)	$0
Purchases of Investments	-$34M
Sales/Maturities of Investments	$30M
Other Investing Activities	-$271M
NET CASH FROM INVESTING	-$270M
Net Debt Issuance	-$116M
Common Stock Repurchased	-$5M
Common Dividends Paid	-$5M
Other Financing Activities	$297M
NET CASH FROM FINANCING	$171M
FREE CASH FLOW	$39M
Net Change in Cash	-$65M

Balance Sheet

Item	Amount
Cash & Equivalents	$292M
Short-Term Investments	$90M
Net Receivables	$8M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$389M
PP&E (Net)	$26M
Goodwill	$3M
Intangible Assets	$0
Long-Term Investments	$1.9B
Tax Assets	$8M
Other Non-Current Assets	$118M
TOTAL NON-CURRENT ASSETS	$2.1B
TOTAL ASSETS	$2.5B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$2.1B
TOTAL CURRENT LIABILITIES	$2.2B
Long-Term Debt	$84M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$84M
TOTAL LIABILITIES	$2.3B
Common Stock	$118M
Additional Paid-In Capital	$0
Retained Earnings	$92M
Treasury Stock	$0
Accum. Other Comp. Income	-$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$202M
Minority Interest	$0
TOTAL EQUITY	$202M
TOTAL LIABILITIES & EQUITY	$2.5B
Total Debt	$84M
Net Debt	-$207M