CHMG FY 2021 Earnings Report — Chemung Financial Corporation Revenue & Financial Results | Market Cap Arena

Chemung Financial CorporationCHMG

FY 2021 Earnings

Reported March 23, 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	$92M	—	$87M	—	5.7%
Op. Income	$34M	—	$24M	—	41.4%
Gross Margin	96.3%	—	90.5%	—	5.7pp
Net Margin	28.8%	—	22.2%	—	6.6pp
EPS (Diluted)	$5.64	—	$4.01	—	40.6%
Free Cash Flow	$35M	—	$28M	—	26.3%

Revenue Flow

Item	Amount
REVENUE	$92M
Cost of Revenue	$3M
GROSS PROFIT	$88M
R&D Expenses	$0
Selling & Marketing	$792.0K
General & Administrative	$32M
SG&A Expenses	$33M
Other Expenses	$22M
Operating Expenses	$55M
Cost & Expenses	$58M
OPERATING INCOME	$34M
Interest Income	$69M
Interest Expense	$3M
Other Income/Expenses	$0
INCOME BEFORE TAX	$34M
Income Tax Expense	$7M
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	$4M
EBIT	$34M
EBITDA	$37M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$92M
Cost of Revenue	$3M
GROSS PROFIT	$88M
R&D Expenses	$0
Selling & Marketing	$792.0K
General & Administrative	$32M
SG&A Expenses	$33M
Other Expenses	$22M
Operating Expenses	$55M
Cost & Expenses	$58M
OPERATING INCOME	$34M
Interest Income	$69M
Interest Expense	$3M
Other Income/Expenses	$0
INCOME BEFORE TAX	$34M
Income Tax Expense	$7M
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	$4M
EBIT	$34M
EBITDA	$37M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$26M
Depreciation & Amortization	$4M
Stock-Based Compensation	$667.0K
Deferred Income Tax	$570.0K
Other Non-Cash Items	-$4M
Change in Working Capital	$8M
OPERATING CASH FLOW	$35M
Capital Expenditure	-$367.0K
Acquisitions (Net)	$0
Purchases of Investments	-$404M
Sales/Maturities of Investments	$144M
Other Investing Activities	$18M
NET CASH FROM INVESTING	-$242M
Net Debt Issuance	$14M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$5M
Other Financing Activities	$118M
NET CASH FROM FINANCING	$125M
FREE CASH FLOW	$35M
Net Change in Cash	-$82M

Balance Sheet

Item	Amount
Cash & Equivalents	$27M
Short-Term Investments	$792M
Net Receivables	$32M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$851M
PP&E (Net)	$25M
Goodwill	$22M
Intangible Assets	$15.0K
Long-Term Investments	$1.5B
Tax Assets	$0
Other Non-Current Assets	$7M
TOTAL NON-CURRENT ASSETS	$1.6B
TOTAL ASSETS	$2.4B
Account Payables	$15M
Short-Term Debt	$15M
Deferred Revenue	$0
Other Current Liabilities	$2.2B
TOTAL CURRENT LIABILITIES	$2.2B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$11M
TOTAL NON-CURRENT LIABILITIES	$22M
TOTAL LIABILITIES	$2.2B
Common Stock	$53.0K
Additional Paid-In Capital	$47M
Retained Earnings	$189M
Treasury Stock	-$18M
Accum. Other Comp. Income	-$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$211M
Minority Interest	$0
TOTAL EQUITY	$211M
TOTAL LIABILITIES & EQUITY	$2.4B
Total Debt	$26M
Net Debt	-$1M