FFWM FY 2018 Earnings Report — First Foundation Inc. Revenue & Financial Results | Market Cap Arena

First Foundation Inc.FFWM

FY 2018 Earnings

Reported March 1, 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	$228M	—	$168M	—	35.3%
Op. Income	$60M	—	$51M	—	18.7%
Gross Margin	75.5%	—	84.6%	—	-9.1pp
Net Margin	18.8%	—	16.4%	—	2.5pp
EPS (Diluted)	$1.01	—	$0.78	—	29.5%
Free Cash Flow	$48M	—	$36M	—	35.5%

Revenue Flow

Item	Amount
REVENUE	$228M
Cost of Revenue	$56M
GROSS PROFIT	$172M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$68M
SG&A Expenses	$68M
Other Expenses	$44M
Operating Expenses	$112M
Cost & Expenses	$168M
OPERATING INCOME	$60M
Interest Income	$207M
Interest Expense	$52M
Other Income/Expenses	$0
INCOME BEFORE TAX	$60M
Income Tax Expense	$17M
Net Income from Continuing Ops	$43M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$43M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$43M
D&A	$6M
EBIT	$60M
EBITDA	$66M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$228M
Cost of Revenue	$56M
GROSS PROFIT	$172M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$68M
SG&A Expenses	$68M
Other Expenses	$44M
Operating Expenses	$112M
Cost & Expenses	$168M
OPERATING INCOME	$60M
Interest Income	$207M
Interest Expense	$52M
Other Income/Expenses	$0
INCOME BEFORE TAX	$60M
Income Tax Expense	$17M
Net Income from Continuing Ops	$43M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$43M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$43M
D&A	$6M
EBIT	$60M
EBITDA	$66M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$43M
Depreciation & Amortization	$6M
Stock-Based Compensation	$3M
Deferred Income Tax	$1M
Other Non-Cash Items	-$3M
Change in Working Capital	$1M
OPERATING CASH FLOW	$51M
Capital Expenditure	-$3M
Acquisitions (Net)	$48M
Purchases of Investments	-$366M
Sales/Maturities of Investments	$91M
Other Investing Activities	-$450M
NET CASH FROM INVESTING	-$680M
Net Debt Issuance	-$45M
Common Stock Repurchased	-$497.0K
Common Dividends Paid	$0
Other Financing Activities	$612M
NET CASH FROM FINANCING	$575M
FREE CASH FLOW	$48M
Net Change in Cash	-$53M

Balance Sheet

Item	Amount
Cash & Equivalents	$67M
Short-Term Investments	$810M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$877M
PP&E (Net)	$9M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$4.8B
Tax Assets	$13M
Other Non-Current Assets	$59M
TOTAL NON-CURRENT ASSETS	$5.0B
TOTAL ASSETS	$5.8B
Account Payables	$40M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$4.5B
TOTAL CURRENT LIABILITIES	$4.6B
Long-Term Debt	$708M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$708M
TOTAL LIABILITIES	$5.3B
Common Stock	$44.0K
Additional Paid-In Capital	$432M
Retained Earnings	$128M
Treasury Stock	$0
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$559M
Minority Interest	$0
TOTAL EQUITY	$559M
TOTAL LIABILITIES & EQUITY	$5.8B
Total Debt	$708M
Net Debt	$641M