FFWM FY 2020 Earnings Report — First Foundation Inc. Revenue & Financial Results | Market Cap Arena

First Foundation Inc.FFWM

FY 2020 Earnings

Reported February 26, 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	$291M	—	$273M	—	6.8%
Op. Income	$119M	—	$79M	—	49.4%
Gross Margin	81.5%	—	70.1%	—	11.3pp
Net Margin	29.0%	—	20.6%	—	8.4pp
EPS (Diluted)	$1.88	—	$1.25	—	50.4%
Free Cash Flow	$65M	—	$58M	—	10.9%

Revenue Flow

Item	Amount
REVENUE	$291M
Cost of Revenue	$54M
GROSS PROFIT	$237M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$74M
SG&A Expenses	$74M
Other Expenses	$44M
Operating Expenses	$118M
Cost & Expenses	$172M
OPERATING INCOME	$119M
Interest Income	$244M
Interest Expense	$47M
Other Income/Expenses	$0
INCOME BEFORE TAX	$119M
Income Tax Expense	$34M
Net Income from Continuing Ops	$84M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$84M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$84M
D&A	$7M
EBIT	$119M
EBITDA	$125M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$291M
Cost of Revenue	$54M
GROSS PROFIT	$237M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$74M
SG&A Expenses	$74M
Other Expenses	$44M
Operating Expenses	$118M
Cost & Expenses	$172M
OPERATING INCOME	$119M
Interest Income	$244M
Interest Expense	$47M
Other Income/Expenses	$0
INCOME BEFORE TAX	$119M
Income Tax Expense	$34M
Net Income from Continuing Ops	$84M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$84M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$84M
D&A	$7M
EBIT	$119M
EBITDA	$125M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$84M
Depreciation & Amortization	$7M
Stock-Based Compensation	$2M
Deferred Income Tax	-$2M
Other Non-Cash Items	$2M
Change in Working Capital	-$26M
OPERATING CASH FLOW	$67M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$57M
Sales/Maturities of Investments	$270M
Other Investing Activities	-$236M
NET CASH FROM INVESTING	-$25M
Net Debt Issuance	-$474M
Common Stock Repurchased	-$3M
Common Dividends Paid	-$13M
Other Financing Activities	$1.0B
NET CASH FROM FINANCING	$522M
FREE CASH FLOW	$65M
Net Change in Cash	$564M

Balance Sheet

Item	Amount
Cash & Equivalents	$630M
Short-Term Investments	$807M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$8M
Goodwill	$0
Intangible Assets	$95M
Long-Term Investments	$5.3B
Tax Assets	$9M
Other Non-Current Assets	$123M
TOTAL NON-CURRENT ASSETS	$5.5B
TOTAL ASSETS	$7.0B
Account Payables	$79M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$5.9B
TOTAL CURRENT LIABILITIES	$6.0B
Long-Term Debt	$269M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$269M
TOTAL LIABILITIES	$6.3B
Common Stock	$45.0K
Additional Paid-In Capital	$434M
Retained Earnings	$248M
Treasury Stock	$0
Accum. Other Comp. Income	$14M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$696M
Minority Interest	$0
TOTAL EQUITY	$696M
TOTAL LIABILITIES & EQUITY	$7.0B
Total Debt	$269M
Net Debt	-$361M