INBK FY 2018 Earnings Report — First Internet Bancorp Revenue & Financial Results | Market Cap Arena

First Internet BancorpINBK

FY 2018 Earnings

Reported March 14, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$123M	—	$94M	—	30.9%
Op. Income	$24M	—	$23M	—	4.5%
Gross Margin	53.7%	—	62.2%	—	-8.5pp
Net Margin	17.8%	—	16.2%	—	1.6pp
EPS (Diluted)	$2.30	—	$2.13	—	8.0%
Free Cash Flow	$27M	—	$23M	—	17.4%

Revenue Flow

Item	Amount
REVENUE	$123M
Cost of Revenue	$57M
GROSS PROFIT	$66M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$26M
SG&A Expenses	$29M
Other Expenses	$13M
Operating Expenses	$42M
Cost & Expenses	$99M
OPERATING INCOME	$24M
Interest Income	$115M
Interest Expense	$53M
Other Income/Expenses	$0
INCOME BEFORE TAX	$24M
Income Tax Expense	$2M
Net Income from Continuing Ops	$22M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$22M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$22M
D&A	$6M
EBIT	$24M
EBITDA	$30M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$123M
Cost of Revenue	$57M
GROSS PROFIT	$66M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$26M
SG&A Expenses	$29M
Other Expenses	$13M
Operating Expenses	$42M
Cost & Expenses	$99M
OPERATING INCOME	$24M
Interest Income	$115M
Interest Expense	$53M
Other Income/Expenses	$0
INCOME BEFORE TAX	$24M
Income Tax Expense	$2M
Net Income from Continuing Ops	$22M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$22M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$22M
D&A	$6M
EBIT	$24M
EBITDA	$30M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$22M
Depreciation & Amortization	$6M
Stock-Based Compensation	$2M
Deferred Income Tax	$978.0K
Other Non-Cash Items	$12M
Change in Working Capital	-$13M
OPERATING CASH FLOW	$29M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$92M
Sales/Maturities of Investments	$63M
Other Investing Activities	-$607M
NET CASH FROM INVESTING	-$639M
Net Debt Issuance	$112M
Common Stock Repurchased	-$216.0K
Common Dividends Paid	-$2M
Other Financing Activities	$586M
NET CASH FROM FINANCING	$750M
FREE CASH FLOW	$27M
Net Change in Cash	$141M

Balance Sheet

Item	Amount
Cash & Equivalents	$189M
Short-Term Investments	$481M
Net Receivables	$936M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$11M
Goodwill	$5M
Intangible Assets	$0
Long-Term Investments	$1.8B
Tax Assets	$0
Other Non-Current Assets	$100M
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$3.5B
Account Payables	$1M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$2.7B
TOTAL CURRENT LIABILITIES	$2.7B
Long-Term Debt	$559M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$559M
TOTAL LIABILITIES	$3.3B
Common Stock	$228M
Additional Paid-In Capital	$0
Retained Earnings	$78M
Treasury Stock	$0
Accum. Other Comp. Income	-$17M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$289M
Minority Interest	$0
TOTAL EQUITY	$289M
TOTAL LIABILITIES & EQUITY	$3.5B
Total Debt	$559M
Net Debt	$370M