CION FY 2023 Earnings Report — CION Investment Corporation Revenue & Financial Results | Market Cap Arena

CION Investment CorporationCION

FY 2023 Earnings

Reported March 13, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$192M	—	$111M	—	73.5%
Op. Income	$95M	—	$51M	—	88.6%
Gross Margin	55.5%	—	55.2%	—	0.3pp
Net Margin	49.6%	—	45.3%	—	4.3pp
EPS (Diluted)	$1.74	—	$0.89	—	95.5%
Free Cash Flow	$55M	—	$35M	—	57.0%

Revenue Flow

Item	Amount
REVENUE	$192M
Cost of Revenue	$86M
GROSS PROFIT	$107M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$10M
SG&A Expenses	$10M
Other Expenses	$911.0K
Operating Expenses	$11M
Cost & Expenses	$97M
OPERATING INCOME	$95M
Interest Income	$231M
Interest Expense	$86M
Other Income/Expenses	$0
INCOME BEFORE TAX	$95M
Income Tax Expense	-$54.0K
Net Income from Continuing Ops	$95M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$95M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$95M
D&A	$0
EBIT	$95M
EBITDA	$95M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$192M
Cost of Revenue	$86M
GROSS PROFIT	$107M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$10M
SG&A Expenses	$10M
Other Expenses	$911.0K
Operating Expenses	$11M
Cost & Expenses	$97M
OPERATING INCOME	$95M
Interest Income	$231M
Interest Expense	$86M
Other Income/Expenses	$0
INCOME BEFORE TAX	$95M
Income Tax Expense	-$54.0K
Net Income from Continuing Ops	$95M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$95M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$95M
D&A	$0
EBIT	$95M
EBITDA	$95M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$95M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$31M
Change in Working Capital	-$8M
OPERATING CASH FLOW	$55M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$350M
Sales/Maturities of Investments	$300M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$50M
Net Debt Issuance	$126M
Common Stock Repurchased	-$12M
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	$23M
FREE CASH FLOW	$55M
Net Change in Cash	-$74M

Balance Sheet

Item	Amount
Cash & Equivalents	$8M
Short-Term Investments	$0
Net Receivables	$38M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$47M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$2.0B
TOTAL NON-CURRENT ASSETS	$2.0B
TOTAL ASSETS	$2.0B
Account Payables	$27M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$27M
Long-Term Debt	$1.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$14M
TOTAL NON-CURRENT LIABILITIES	$1.1B
TOTAL LIABILITIES	$1.1B
Common Stock	$54.0K
Additional Paid-In Capital	$1.0B
Retained Earnings	-$154M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$880M
Minority Interest	$0
TOTAL EQUITY	$880M
TOTAL LIABILITIES & EQUITY	$2.0B
Total Debt	$1.1B
Net Debt	$1.1B