CION FY 2018 Earnings Report — CION Investment Corporation Revenue & Financial Results | Market Cap Arena

CION Investment CorporationCION

FY 2018 Earnings

Reported March 18, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$86M	—	$118M	—	-27.2%
Op. Income	$31M	—	$86M	—	-63.6%
Gross Margin	47.0%	—	80.5%	—	-33.5pp
Net Margin	36.4%	—	72.6%	—	-36.3pp
EPS (Diluted)	$0.55	—	$1.54	—	-64.3%
Free Cash Flow	-$115M	—	-$414M	—	72.3%

Revenue Flow

Item	Amount
REVENUE	$86M
Cost of Revenue	$46M
GROSS PROFIT	$40M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$8M
SG&A Expenses	$8M
Other Expenses	$1M
Operating Expenses	$9M
Cost & Expenses	$55M
OPERATING INCOME	$31M
Interest Income	$185M
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$31M
Income Tax Expense	$0
Net Income from Continuing Ops	$31M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$31M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$31M
D&A	$0
EBIT	$31M
EBITDA	$31M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$86M
Cost of Revenue	$46M
GROSS PROFIT	$40M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$8M
SG&A Expenses	$8M
Other Expenses	$1M
Operating Expenses	$9M
Cost & Expenses	$55M
OPERATING INCOME	$31M
Interest Income	$185M
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$31M
Income Tax Expense	$0
Net Income from Continuing Ops	$31M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$31M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$31M
D&A	$0
EBIT	$31M
EBITDA	$31M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$31M
Depreciation & Amortization	$53M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$201M
Change in Working Capital	$2M
OPERATING CASH FLOW	-$115M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$1.3B
Sales/Maturities of Investments	$256M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$1.0B
Net Debt Issuance	$187M
Common Stock Repurchased	-$97M
Common Dividends Paid	-$45M
Other Financing Activities	$31M
NET CASH FROM FINANCING	$76M
FREE CASH FLOW	-$115M
Net Change in Cash	-$39M

Balance Sheet

Item	Amount
Cash & Equivalents	$18M
Short-Term Investments	$0
Net Receivables	$23M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$41M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$1.9B
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$1.9B
Account Payables	$22M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$22M
Long-Term Debt	$893M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$13M
TOTAL NON-CURRENT LIABILITIES	$905M
TOTAL LIABILITIES	$927M
Common Stock	$113.0K
Additional Paid-In Capital	$1.0B
Retained Earnings	-$70M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$979M
Minority Interest	$0
TOTAL EQUITY	$979M
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$893M
Net Debt	$875M