INBK FY 2017 Earnings Report — First Internet Bancorp Revenue & Financial Results | Market Cap Arena

First Internet BancorpINBK

FY 2017 Earnings

Reported March 8, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$94M	—	$72M	—	30.7%
Op. Income	$23M	—	$18M	—	27.5%
Gross Margin	62.2%	—	67.3%	—	-5.1pp
Net Margin	16.2%	—	16.7%	—	-0.6pp
EPS (Diluted)	$2.13	—	$2.30	—	-7.4%
Free Cash Flow	$23M	—	$23M	—	-0.8%

Revenue Flow

Item	Amount
REVENUE	$94M
Cost of Revenue	$36M
GROSS PROFIT	$59M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$24M
SG&A Expenses	$26M
Other Expenses	$10M
Operating Expenses	$36M
Cost & Expenses	$71M
OPERATING INCOME	$23M
Interest Income	$85M
Interest Expense	$31M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	$8M
Net Income from Continuing Ops	$15M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$15M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$15M
D&A	$5M
EBIT	$23M
EBITDA	$28M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$94M
Cost of Revenue	$36M
GROSS PROFIT	$59M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$24M
SG&A Expenses	$26M
Other Expenses	$10M
Operating Expenses	$36M
Cost & Expenses	$71M
OPERATING INCOME	$23M
Interest Income	$85M
Interest Expense	$31M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	$8M
Net Income from Continuing Ops	$15M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$15M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$15M
D&A	$5M
EBIT	$23M
EBITDA	$28M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$15M
Depreciation & Amortization	$5M
Stock-Based Compensation	$1M
Deferred Income Tax	-$3M
Other Non-Cash Items	$9M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$25M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$94M
Sales/Maturities of Investments	$78M
Other Investing Activities	-$890M
NET CASH FROM INVESTING	-$908M
Net Debt Issuance	$220M
Common Stock Repurchased	$0
Common Dividends Paid	-$2M
Other Financing Activities	$622M
NET CASH FROM FINANCING	$892M
FREE CASH FLOW	$23M
Net Change in Cash	$9M

Balance Sheet

Item	Amount
Cash & Equivalents	$48M
Short-Term Investments	$473M
Net Receivables	$815M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$10M
Goodwill	$5M
Intangible Assets	$0
Long-Term Investments	$1.3B
Tax Assets	$0
Other Non-Current Assets	$73M
TOTAL NON-CURRENT ASSETS	$1.4B
TOTAL ASSETS	$2.8B
Account Payables	$311.0K
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$2.1B
TOTAL CURRENT LIABILITIES	$2.1B
Long-Term Debt	$447M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$447M
TOTAL LIABILITIES	$2.5B
Common Stock	$172M
Additional Paid-In Capital	$0
Retained Earnings	$57M
Treasury Stock	$0
Accum. Other Comp. Income	-$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$224M
Minority Interest	$0
TOTAL EQUITY	$224M
TOTAL LIABILITIES & EQUITY	$2.8B
Total Debt	$447M
Net Debt	$399M