INBK FY 2013 Earnings Report — First Internet Bancorp Revenue & Financial Results | Market Cap Arena

First Internet BancorpINBK

FY 2013 Earnings

Reported March 31, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$34M	—	$35M	—	-1.1%
Op. Income	$6M	—	$8M	—	-21.0%
Gross Margin	75.5%	—	67.3%	—	8.3pp
Net Margin	13.4%	—	16.1%	—	-2.8pp
EPS (Diluted)	$1.51	—	$1.95	—	-22.6%
Free Cash Flow	$34M	—	-$6M	—	673.3%

Revenue Flow

Item	Amount
REVENUE	$34M
Cost of Revenue	$8M
GROSS PROFIT	$26M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$12M
SG&A Expenses	$13M
Other Expenses	$6M
Operating Expenses	$20M
Cost & Expenses	$28M
OPERATING INCOME	$6M
Interest Income	$26M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$6M
Income Tax Expense	$2M
Net Income from Continuing Ops	$5M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5M
D&A	$2M
EBIT	$6M
EBITDA	$8M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$34M
Cost of Revenue	$8M
GROSS PROFIT	$26M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$12M
SG&A Expenses	$13M
Other Expenses	$6M
Operating Expenses	$20M
Cost & Expenses	$28M
OPERATING INCOME	$6M
Interest Income	$26M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$6M
Income Tax Expense	$2M
Net Income from Continuing Ops	$5M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5M
D&A	$2M
EBIT	$6M
EBITDA	$8M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$5M
Depreciation & Amortization	$2M
Stock-Based Compensation	$514.0K
Deferred Income Tax	$2M
Other Non-Cash Items	$35M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$42M
Capital Expenditure	-$7M
Acquisitions (Net)	$0
Purchases of Investments	-$134M
Sales/Maturities of Investments	$102M
Other Investing Activities	-$146M
NET CASH FROM INVESTING	-$185M
Net Debt Issuance	-$6M
Common Stock Repurchased	$0
Common Dividends Paid	-$450.0K
Other Financing Activities	$142M
NET CASH FROM FINANCING	$165M
FREE CASH FLOW	$34M
Net Change in Cash	$21M

Balance Sheet

Item	Amount
Cash & Equivalents	$56M
Short-Term Investments	$181M
Net Receivables	$3M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$241M
PP&E (Net)	$7M
Goodwill	$5M
Intangible Assets	$0
Long-Term Investments	$524M
Tax Assets	$0
Other Non-Current Assets	$26M
TOTAL NON-CURRENT ASSETS	$562M
TOTAL ASSETS	$802M
Account Payables	$102.0K
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$673M
TOTAL CURRENT LIABILITIES	$677M
Long-Term Debt	$35M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$35M
TOTAL LIABILITIES	$711M
Common Stock	$71M
Additional Paid-In Capital	$71M
Retained Earnings	$22M
Treasury Stock	$0
Accum. Other Comp. Income	-$74M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$91M
Minority Interest	$0
TOTAL EQUITY	$91M
TOTAL LIABILITIES & EQUITY	$802M
Total Debt	$35M
Net Debt	-$22M