INBK FY 2019 Earnings Report — First Internet Bancorp Revenue & Financial Results | Market Cap Arena

First Internet BancorpINBK

FY 2019 Earnings

Reported March 12, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$163M	—	$123M	—	32.3%
Op. Income	$27M	—	$24M	—	13.4%
Gross Margin	44.6%	—	53.7%	—	-9.1pp
Net Margin	15.5%	—	17.8%	—	-2.3pp
EPS (Diluted)	$2.51	—	$2.30	—	9.1%
Free Cash Flow	-$48M	—	$27M	—	-275.7%

Revenue Flow

Item	Amount
REVENUE	$163M
Cost of Revenue	$90M
GROSS PROFIT	$73M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$30M
SG&A Expenses	$32M
Other Expenses	$13M
Operating Expenses	$45M
Cost & Expenses	$136M
OPERATING INCOME	$27M
Interest Income	$147M
Interest Expense	$84M
Other Income/Expenses	$0
INCOME BEFORE TAX	$27M
Income Tax Expense	$2M
Net Income from Continuing Ops	$25M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$25M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$25M
D&A	$7M
EBIT	$27M
EBITDA	$34M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$163M
Cost of Revenue	$90M
GROSS PROFIT	$73M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$30M
SG&A Expenses	$32M
Other Expenses	$13M
Operating Expenses	$45M
Cost & Expenses	$136M
OPERATING INCOME	$27M
Interest Income	$147M
Interest Expense	$84M
Other Income/Expenses	$0
INCOME BEFORE TAX	$27M
Income Tax Expense	$2M
Net Income from Continuing Ops	$25M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$25M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$25M
D&A	$7M
EBIT	$27M
EBITDA	$34M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$25M
Depreciation & Amortization	$7M
Stock-Based Compensation	$2M
Deferred Income Tax	-$4M
Other Non-Cash Items	-$34M
Change in Working Capital	-$40M
OPERATING CASH FLOW	-$44M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$211M
Sales/Maturities of Investments	$123M
Other Investing Activities	-$221M
NET CASH FROM INVESTING	-$313M
Net Debt Issuance	$25M
Common Stock Repurchased	-$10M
Common Dividends Paid	-$2M
Other Financing Activities	$482M
NET CASH FROM FINANCING	$495M
FREE CASH FLOW	-$48M
Net Change in Cash	$139M

Balance Sheet

Item	Amount
Cash & Equivalents	$327M
Short-Term Investments	$541M
Net Receivables	$1.0B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.9B
PP&E (Net)	$15M
Goodwill	$5M
Intangible Assets	$0
Long-Term Investments	$2.1B
Tax Assets	$0
Other Non-Current Assets	$134M
TOTAL NON-CURRENT ASSETS	$2.2B
TOTAL ASSETS	$4.1B
Account Payables	$4M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$3.2B
TOTAL CURRENT LIABILITIES	$3.2B
Long-Term Debt	$584M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$584M
TOTAL LIABILITIES	$3.8B
Common Stock	$219M
Additional Paid-In Capital	$0
Retained Earnings	$100M
Treasury Stock	$0
Accum. Other Comp. Income	-$14M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$305M
Minority Interest	$0
TOTAL EQUITY	$305M
TOTAL LIABILITIES & EQUITY	$4.1B
Total Debt	$584M
Net Debt	$257M