FXNC FY 2023 Earnings Report — First National Corporation Revenue & Financial Results | Market Cap Arena

First National CorporationFXNC

FY 2023 Earnings

Reported March 29, 2024

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	$68M	—	$61M	—	11.9%
Op. Income	$12M	—	$21M	—	-43.1%
Gross Margin	69.9%	—	90.7%	—	-20.8pp
Net Margin	14.2%	—	27.7%	—	-13.5pp
EPS (Diluted)	$1.53	—	$2.68	—	-42.9%
Free Cash Flow	$15M	—	$26M	—	-43.2%

Revenue Flow

Item	Amount
REVENUE	$68M
Cost of Revenue	$20M
GROSS PROFIT	$47M
R&D Expenses	$0
Selling & Marketing	$910.0K
General & Administrative	$22M
SG&A Expenses	$23M
Other Expenses	$13M
Operating Expenses	$36M
Cost & Expenses	$56M
OPERATING INCOME	$12M
Interest Income	$58M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$12M
Income Tax Expense	$2M
Net Income from Continuing Ops	$10M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$10M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$10M
D&A	$2M
EBIT	$12M
EBITDA	$13M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$68M
Cost of Revenue	$20M
GROSS PROFIT	$47M
R&D Expenses	$0
Selling & Marketing	$910.0K
General & Administrative	$22M
SG&A Expenses	$23M
Other Expenses	$13M
Operating Expenses	$36M
Cost & Expenses	$56M
OPERATING INCOME	$12M
Interest Income	$58M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$12M
Income Tax Expense	$2M
Net Income from Continuing Ops	$10M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$10M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$10M
D&A	$2M
EBIT	$12M
EBITDA	$13M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$10M
Depreciation & Amortization	$2M
Stock-Based Compensation	$753.0K
Deferred Income Tax	-$399.0K
Other Non-Cash Items	$6M
Change in Working Capital	-$732.0K
OPERATING CASH FLOW	$16M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$2M
Sales/Maturities of Investments	$21M
Other Investing Activities	-$51M
NET CASH FROM INVESTING	-$34M
Net Debt Issuance	$50M
Common Stock Repurchased	-$682.0K
Common Dividends Paid	-$4M
Other Financing Activities	-$8M
NET CASH FROM FINANCING	$38M
FREE CASH FLOW	$15M
Net Change in Cash	$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$87M
Short-Term Investments	$153M
Net Receivables	$5M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$245M
PP&E (Net)	$22M
Goodwill	$3M
Intangible Assets	$117.0K
Long-Term Investments	$1.1B
Tax Assets	$0
Other Non-Current Assets	$44M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$1.4B
Account Payables	$0
Short-Term Debt	$50M
Deferred Revenue	$0
Other Current Liabilities	$1.2B
TOTAL CURRENT LIABILITIES	$1.3B
Long-Term Debt	$14M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$5M
TOTAL NON-CURRENT LIABILITIES	$19M
TOTAL LIABILITIES	$1.3B
Common Stock	$8M
Additional Paid-In Capital	$33M
Retained Earnings	$94M
Treasury Stock	$0
Accum. Other Comp. Income	-$19M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$116M
Minority Interest	$0
TOTAL EQUITY	$116M
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$64M
Net Debt	-$23M