FRBA FY 2023 Earnings Report — First Bank Revenue & Financial Results | Market Cap Arena

FY 2023 Earnings

Reported December 29, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$173M	—	$112M	—	54.2%
Op. Income	$27M	—	$48M	—	-43.3%
Gross Margin	55.3%	—	84.2%	—	-28.9pp
Net Margin	12.1%	—	32.3%	—	-20.2pp
EPS (Diluted)	$0.95	—	$1.84	—	-48.4%
Free Cash Flow	$141M	—	$35M	—	302.4%

Revenue Flow

Item	Amount
REVENUE	$173M
Cost of Revenue	$77M
GROSS PROFIT	$96M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$36M
SG&A Expenses	$37M
Other Expenses	$31M
Operating Expenses	$69M
Cost & Expenses	$146M
OPERATING INCOME	$27M
Interest Income	$174M
Interest Expense	$70M
Other Income/Expenses	$0
INCOME BEFORE TAX	$27M
Income Tax Expense	$6M
Net Income from Continuing Ops	$21M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$21M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$21M
D&A	$3M
EBIT	$27M
EBITDA	$30M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$173M
Cost of Revenue	$77M
GROSS PROFIT	$96M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$36M
SG&A Expenses	$37M
Other Expenses	$31M
Operating Expenses	$69M
Cost & Expenses	$146M
OPERATING INCOME	$27M
Interest Income	$174M
Interest Expense	$70M
Other Income/Expenses	$0
INCOME BEFORE TAX	$27M
Income Tax Expense	$6M
Net Income from Continuing Ops	$21M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$21M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$21M
D&A	$3M
EBIT	$27M
EBITDA	$30M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$21M
Depreciation & Amortization	$3M
Stock-Based Compensation	$2M
Deferred Income Tax	$318.0K
Other Non-Cash Items	$125M
Change in Working Capital	-$7M
OPERATING CASH FLOW	$144M
Capital Expenditure	-$3M
Acquisitions (Net)	-$16M
Purchases of Investments	-$63M
Sales/Maturities of Investments	$132M
Other Investing Activities	-$29M
NET CASH FROM INVESTING	$20M
Net Debt Issuance	-$53M
Common Stock Repurchased	-$6M
Common Dividends Paid	-$5M
Other Financing Activities	$1M
NET CASH FROM FINANCING	-$62M
FREE CASH FLOW	$141M
Net Change in Cash	$102M

Balance Sheet

Item	Amount
Cash & Equivalents	$215M
Short-Term Investments	$94M
Net Receivables	$15M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$324M
PP&E (Net)	$22M
Goodwill	$44M
Intangible Assets	$11M
Long-Term Investments	$3.0B
Tax Assets	$31M
Other Non-Current Assets	$143M
TOTAL NON-CURRENT ASSETS	$3.3B
TOTAL ASSETS	$3.6B
Account Payables	$3M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$3.0B
TOTAL CURRENT LIABILITIES	$3.0B
Long-Term Debt	$234M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$34M
TOTAL NON-CURRENT LIABILITIES	$268M
TOTAL LIABILITIES	$3.2B
Common Stock	$135M
Additional Paid-In Capital	$123M
Retained Earnings	$141M
Treasury Stock	-$21M
Accum. Other Comp. Income	-$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$371M
Minority Interest	$0
TOTAL EQUITY	$371M
TOTAL LIABILITIES & EQUITY	$3.6B
Total Debt	$234M
Net Debt	$19M