COFS FY 2020 Earnings Report — ChoiceOne Financial Services, Inc. Revenue & Financial Results | Market Cap Arena

ChoiceOne Financial Services, Inc.COFS

FY 2020 Earnings

Reported April 1, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$78M	—	$42M	—	88.3%
Op. Income	$19M	—	$8M	—	123.1%
Gross Margin	89.0%	—	88.7%	—	0.3pp
Net Margin	19.9%	—	17.2%	—	2.7pp
EPS (Diluted)	$2.07	—	$1.58	—	31.0%
Free Cash Flow	$7M	—	$8M	—	-21.5%

Revenue Flow

Item	Amount
REVENUE	$78M
Cost of Revenue	$9M
GROSS PROFIT	$70M
R&D Expenses	$0
Selling & Marketing	$588.0K
General & Administrative	$27M
SG&A Expenses	$28M
Other Expenses	$23M
Operating Expenses	$51M
Cost & Expenses	$60M
OPERATING INCOME	$19M
Interest Income	$56M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$19M
Income Tax Expense	$3M
Net Income from Continuing Ops	$16M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$16M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$16M
D&A	$8M
EBIT	$19M
EBITDA	$27M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$78M
Cost of Revenue	$9M
GROSS PROFIT	$70M
R&D Expenses	$0
Selling & Marketing	$588.0K
General & Administrative	$27M
SG&A Expenses	$28M
Other Expenses	$23M
Operating Expenses	$51M
Cost & Expenses	$60M
OPERATING INCOME	$19M
Interest Income	$56M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$19M
Income Tax Expense	$3M
Net Income from Continuing Ops	$16M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$16M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$16M
D&A	$8M
EBIT	$19M
EBITDA	$27M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$16M
Depreciation & Amortization	$8M
Stock-Based Compensation	$512.0K
Deferred Income Tax	$202.0K
Other Non-Cash Items	-$9M
Change in Working Capital	-$7M
OPERATING CASH FLOW	$8M
Capital Expenditure	-$2M
Acquisitions (Net)	$36M
Purchases of Investments	-$376M
Sales/Maturities of Investments	$171M
Other Investing Activities	-$80M
NET CASH FROM INVESTING	-$251M
Net Debt Issuance	-$24M
Common Stock Repurchased	$0
Common Dividends Paid	-$6M
Other Financing Activities	$292M
NET CASH FROM FINANCING	$262M
FREE CASH FLOW	$7M
Net Change in Cash	$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$80M
Short-Term Investments	$575M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$654M
PP&E (Net)	$29M
Goodwill	$61M
Intangible Assets	$5M
Long-Term Investments	$1.1B
Tax Assets	$0
Other Non-Current Assets	$57M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$1.9B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$1.7B
TOTAL CURRENT LIABILITIES	$1.7B
Long-Term Debt	$12M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$5M
TOTAL NON-CURRENT LIABILITIES	$17M
TOTAL LIABILITIES	$1.7B
Common Stock	$179M
Additional Paid-In Capital	$0
Retained Earnings	$37M
Treasury Stock	$0
Accum. Other Comp. Income	$11M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$227M
Minority Interest	$0
TOTAL EQUITY	$227M
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$12M
Net Debt	-$67M