FFWM FY 2021 Earnings Report — First Foundation Inc. Revenue & Financial Results | Market Cap Arena

First Foundation Inc.FFWM

FY 2021 Earnings

Reported February 28, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$309M	—	$291M	—	6.1%
Op. Income	$152M	—	$119M	—	27.8%
Gross Margin	94.2%	—	81.5%	—	12.8pp
Net Margin	35.5%	—	29.0%	—	6.5pp
EPS (Diluted)	$2.41	—	$1.88	—	28.2%
Free Cash Flow	$94M	—	$65M	—	45.1%

Revenue Flow

Item	Amount
REVENUE	$309M
Cost of Revenue	$18M
GROSS PROFIT	$291M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$88M
SG&A Expenses	$88M
Other Expenses	$51M
Operating Expenses	$139M
Cost & Expenses	$157M
OPERATING INCOME	$152M
Interest Income	$247M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$152M
Income Tax Expense	$42M
Net Income from Continuing Ops	$110M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$110M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$110M
D&A	$7M
EBIT	$152M
EBITDA	$159M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$309M
Cost of Revenue	$18M
GROSS PROFIT	$291M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$88M
SG&A Expenses	$88M
Other Expenses	$51M
Operating Expenses	$139M
Cost & Expenses	$157M
OPERATING INCOME	$152M
Interest Income	$247M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$152M
Income Tax Expense	$42M
Net Income from Continuing Ops	$110M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$110M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$110M
D&A	$7M
EBIT	$152M
EBITDA	$159M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$110M
Depreciation & Amortization	$7M
Stock-Based Compensation	$3M
Deferred Income Tax	-$2M
Other Non-Cash Items	-$5M
Change in Working Capital	-$16M
OPERATING CASH FLOW	$97M
Capital Expenditure	-$3M
Acquisitions (Net)	$1.1B
Purchases of Investments	-$455M
Sales/Maturities of Investments	$272M
Other Investing Activities	-$1.0B
NET CASH FROM INVESTING	-$79M
Net Debt Issuance	-$238M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$16M
Other Financing Activities	$728M
NET CASH FROM FINANCING	$474M
FREE CASH FLOW	$94M
Net Change in Cash	$492M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$1.2B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.3B
PP&E (Net)	$38M
Goodwill	$0
Intangible Assets	$222M
Long-Term Investments	$7.4B
Tax Assets	$21M
Other Non-Current Assets	$228M
TOTAL NON-CURRENT ASSETS	$7.9B
TOTAL ASSETS	$10.2B
Account Payables	$110M
Short-Term Debt	$173M
Deferred Revenue	$0
Other Current Liabilities	$8.6B
TOTAL CURRENT LIABILITIES	$8.9B
Long-Term Debt	$210M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$210M
TOTAL LIABILITIES	$9.1B
Common Stock	$56.0K
Additional Paid-In Capital	$721M
Retained Earnings	$341M
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$10.2B
Total Debt	$210M
Net Debt	-$912M