INBK FY 2020 Earnings Report — First Internet Bancorp Revenue & Financial Results | Market Cap Arena

First Internet BancorpINBK

FY 2020 Earnings

Reported March 15, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$171M	—	$163M	—	5.0%
Op. Income	$34M	—	$27M	—	24.8%
Gross Margin	52.3%	—	44.6%	—	7.7pp
Net Margin	17.2%	—	15.5%	—	1.7pp
EPS (Diluted)	$2.99	—	$2.51	—	19.1%
Free Cash Flow	-$12M	—	-$48M	—	73.8%

Revenue Flow

Item	Amount
REVENUE	$171M
Cost of Revenue	$82M
GROSS PROFIT	$90M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$36M
SG&A Expenses	$38M
Other Expenses	$18M
Operating Expenses	$56M
Cost & Expenses	$137M
OPERATING INCOME	$34M
Interest Income	$137M
Interest Expense	$72M
Other Income/Expenses	$0
INCOME BEFORE TAX	$34M
Income Tax Expense	$4M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$8M
EBIT	$34M
EBITDA	$42M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$171M
Cost of Revenue	$82M
GROSS PROFIT	$90M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$36M
SG&A Expenses	$38M
Other Expenses	$18M
Operating Expenses	$56M
Cost & Expenses	$137M
OPERATING INCOME	$34M
Interest Income	$137M
Interest Expense	$72M
Other Income/Expenses	$0
INCOME BEFORE TAX	$34M
Income Tax Expense	$4M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$8M
EBIT	$34M
EBITDA	$42M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$29M
Depreciation & Amortization	$8M
Stock-Based Compensation	$2M
Deferred Income Tax	-$4M
Other Non-Cash Items	-$22M
Change in Working Capital	$142.0K
OPERATING CASH FLOW	$13M
Capital Expenditure	-$26M
Acquisitions (Net)	$0
Purchases of Investments	-$146M
Sales/Maturities of Investments	$197M
Other Investing Activities	-$70M
NET CASH FROM INVESTING	-$45M
Net Debt Issuance	$10M
Common Stock Repurchased	$0
Common Dividends Paid	-$2M
Other Financing Activities	$117M
NET CASH FROM FINANCING	$124M
FREE CASH FLOW	-$12M
Net Change in Cash	$92M

Balance Sheet

Item	Amount
Cash & Equivalents	$420M
Short-Term Investments	$498M
Net Receivables	$968M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.9B
PP&E (Net)	$38M
Goodwill	$5M
Intangible Assets	$0
Long-Term Investments	$2.2B
Tax Assets	$0
Other Non-Current Assets	$131M
TOTAL NON-CURRENT ASSETS	$2.4B
TOTAL ASSETS	$4.2B
Account Payables	$1M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$3.3B
TOTAL CURRENT LIABILITIES	$3.3B
Long-Term Debt	$595M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$595M
TOTAL LIABILITIES	$3.9B
Common Stock	$221M
Additional Paid-In Capital	$0
Retained Earnings	$127M
Treasury Stock	$0
Accum. Other Comp. Income	-$17M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$331M
Minority Interest	$0
TOTAL EQUITY	$331M
TOTAL LIABILITIES & EQUITY	$4.2B
Total Debt	$595M
Net Debt	$175M