FRBA FY 2022 Earnings Report — First Bank Revenue & Financial Results | Market Cap Arena

FY 2022 Earnings

Reported December 31, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$112M	—	$99M	—	13.7%
Op. Income	$48M	—	$47M	—	2.5%
Gross Margin	84.2%	—	90.9%	—	-6.7pp
Net Margin	32.3%	—	35.8%	—	-3.5pp
EPS (Diluted)	$1.84	—	$1.79	—	2.8%
Free Cash Flow	$35M	—	$28M	—	25.6%

Revenue Flow

Item	Amount
REVENUE	$112M
Cost of Revenue	$18M
GROSS PROFIT	$95M
R&D Expenses	$0
Selling & Marketing	$682.0K
General & Administrative	$29M
SG&A Expenses	$30M
Other Expenses	$17M
Operating Expenses	$47M
Cost & Expenses	$64M
OPERATING INCOME	$48M
Interest Income	$107M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$48M
Income Tax Expense	$12M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$36M
D&A	$2M
EBIT	$48M
EBITDA	$49M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$112M
Cost of Revenue	$18M
GROSS PROFIT	$95M
R&D Expenses	$0
Selling & Marketing	$682.0K
General & Administrative	$29M
SG&A Expenses	$30M
Other Expenses	$17M
Operating Expenses	$47M
Cost & Expenses	$64M
OPERATING INCOME	$48M
Interest Income	$107M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$48M
Income Tax Expense	$12M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$36M
D&A	$2M
EBIT	$48M
EBITDA	$49M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$36M
Depreciation & Amortization	$2M
Stock-Based Compensation	$1M
Deferred Income Tax	$358.0K
Other Non-Cash Items	-$3M
Change in Working Capital	$869.0K
OPERATING CASH FLOW	$37M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$54M
Sales/Maturities of Investments	$20M
Other Investing Activities	-$198M
NET CASH FROM INVESTING	-$233M
Net Debt Issuance	-$4M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$5M
Other Financing Activities	$180M
NET CASH FROM FINANCING	$168M
FREE CASH FLOW	$35M
Net Change in Cash	-$29M

Balance Sheet

Item	Amount
Cash & Equivalents	$114M
Short-Term Investments	$99M
Net Receivables	$8M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$221M
PP&E (Net)	$11M
Goodwill	$18M
Intangible Assets	$2M
Long-Term Investments	$2.4B
Tax Assets	$13M
Other Non-Current Assets	$101M
TOTAL NON-CURRENT ASSETS	$2.5B
TOTAL ASSETS	$2.7B
Account Payables	$1M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$2.3B
TOTAL CURRENT LIABILITIES	$2.3B
Long-Term Debt	$121M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$28M
TOTAL NON-CURRENT LIABILITIES	$148M
TOTAL LIABILITIES	$2.4B
Common Stock	$105M
Additional Paid-In Capital	$81M
Retained Earnings	$128M
Treasury Stock	-$16M
Accum. Other Comp. Income	-$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$290M
Minority Interest	$0
TOTAL EQUITY	$290M
TOTAL LIABILITIES & EQUITY	$2.7B
Total Debt	$121M
Net Debt	$7M