CHMG FY 2022 Earnings Report — Chemung Financial Corporation Revenue & Financial Results | Market Cap Arena

Chemung Financial CorporationCHMG

FY 2022 Earnings

Reported March 22, 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	$102M	—	$92M	—	11.0%
Op. Income	$37M	—	$34M	—	9.3%
Gross Margin	93.4%	—	96.3%	—	-2.9pp
Net Margin	28.2%	—	28.8%	—	-0.5pp
EPS (Diluted)	$6.13	—	$5.64	—	8.7%
Free Cash Flow	$35M	—	$35M	—	-1.3%

Revenue Flow

Item	Amount
REVENUE	$102M
Cost of Revenue	$7M
GROSS PROFIT	$95M
R&D Expenses	$0
Selling & Marketing	$941.0K
General & Administrative	$32M
SG&A Expenses	$33M
Other Expenses	$25M
Operating Expenses	$58M
Cost & Expenses	$65M
OPERATING INCOME	$37M
Interest Income	$81M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$37M
Income Tax Expense	$8M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$3M
EBIT	$37M
EBITDA	$40M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$102M
Cost of Revenue	$7M
GROSS PROFIT	$95M
R&D Expenses	$0
Selling & Marketing	$941.0K
General & Administrative	$32M
SG&A Expenses	$33M
Other Expenses	$25M
Operating Expenses	$58M
Cost & Expenses	$65M
OPERATING INCOME	$37M
Interest Income	$81M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$37M
Income Tax Expense	$8M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$3M
EBIT	$37M
EBITDA	$40M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$29M
Depreciation & Amortization	$3M
Stock-Based Compensation	$795.0K
Deferred Income Tax	$2M
Other Non-Cash Items	-$25M
Change in Working Capital	$26M
OPERATING CASH FLOW	$35M
Capital Expenditure	-$426.0K
Acquisitions (Net)	$0
Purchases of Investments	-$25M
Sales/Maturities of Investments	$89M
Other Investing Activities	-$316M
NET CASH FROM INVESTING	-$253M
Net Debt Issuance	$81M
Common Stock Repurchased	-$933.0K
Common Dividends Paid	-$6M
Other Financing Activities	$172M
NET CASH FROM FINANCING	$246M
FREE CASH FLOW	$35M
Net Change in Cash	$29M

Balance Sheet

Item	Amount
Cash & Equivalents	$56M
Short-Term Investments	$633M
Net Receivables	$59M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$748M
PP&E (Net)	$23M
Goodwill	$22M
Intangible Assets	$0
Long-Term Investments	$1.8B
Tax Assets	$0
Other Non-Current Assets	$12M
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$2.6B
Account Payables	$18M
Short-Term Debt	$96M
Deferred Revenue	$0
Other Current Liabilities	$2.3B
TOTAL CURRENT LIABILITIES	$2.4B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$45M
TOTAL NON-CURRENT LIABILITIES	$55M
TOTAL LIABILITIES	$2.5B
Common Stock	$53.0K
Additional Paid-In Capital	$47M
Retained Earnings	$212M
Treasury Stock	-$18M
Accum. Other Comp. Income	-$75M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$166M
Minority Interest	$0
TOTAL EQUITY	$166M
TOTAL LIABILITIES & EQUITY	$2.6B
Total Debt	$106M
Net Debt	$50M