CCB FY 2022 Earnings Report — Coastal Financial Corporation Revenue & Financial Results | Market Cap Arena

Coastal Financial CorporationCCB

FY 2022 Earnings

Reported March 15, 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	$232M	—	$105M	—	120.2%
Op. Income	$51M	—	$34M	—	47.3%
Gross Margin	57.2%	—	87.1%	—	-30.0pp
Net Margin	17.5%	—	25.6%	—	-8.1pp
EPS (Diluted)	$3.01	—	$2.16	—	39.4%
Free Cash Flow	$64M	—	$27M	—	135.8%

Revenue Flow

Item	Amount
REVENUE	$232M
Cost of Revenue	$99M
GROSS PROFIT	$133M
R&D Expenses	$0
Selling & Marketing	$719.0K
General & Administrative	$57M
SG&A Expenses	$58M
Other Expenses	$25M
Operating Expenses	$82M
Cost & Expenses	$182M
OPERATING INCOME	$51M
Interest Income	$192M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$51M
Income Tax Expense	$10M
Net Income from Continuing Ops	$41M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$41M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$41M
D&A	$2M
EBIT	$51M
EBITDA	$52M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$232M
Cost of Revenue	$99M
GROSS PROFIT	$133M
R&D Expenses	$0
Selling & Marketing	$719.0K
General & Administrative	$57M
SG&A Expenses	$58M
Other Expenses	$25M
Operating Expenses	$82M
Cost & Expenses	$182M
OPERATING INCOME	$51M
Interest Income	$192M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$51M
Income Tax Expense	$10M
Net Income from Continuing Ops	$41M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$41M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$41M
D&A	$2M
EBIT	$51M
EBITDA	$52M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$41M
Depreciation & Amortization	$2M
Stock-Based Compensation	$3M
Deferred Income Tax	-$11M
Other Non-Cash Items	$79M
Change in Working Capital	-$46M
OPERATING CASH FLOW	$67M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$137M
Sales/Maturities of Investments	$70M
Other Investing Activities	-$918M
NET CASH FROM INVESTING	-$988M
Net Debt Issuance	-$5M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$454M
NET CASH FROM FINANCING	$450M
FREE CASH FLOW	$64M
Net Change in Cash	-$471M

Balance Sheet

Item	Amount
Cash & Equivalents	$342M
Short-Term Investments	$97M
Net Receivables	$28M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$468M
PP&E (Net)	$23M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$2.6B
Tax Assets	$18M
Other Non-Current Assets	$17M
TOTAL NON-CURRENT ASSETS	$2.7B
TOTAL ASSETS	$3.1B
Account Payables	$21M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$2.8B
TOTAL CURRENT LIABILITIES	$2.8B
Long-Term Debt	$48M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$10M
TOTAL NON-CURRENT LIABILITIES	$62M
TOTAL LIABILITIES	$2.9B
Common Stock	$126M
Additional Paid-In Capital	$0
Retained Earnings	$120M
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$243M
Minority Interest	$0
TOTAL EQUITY	$243M
TOTAL LIABILITIES & EQUITY	$3.1B
Total Debt	$53M
Net Debt	-$289M