INBK FY 2021 Earnings Report — First Internet Bancorp Revenue & Financial Results | Market Cap Arena

First Internet BancorpINBK

FY 2021 Earnings

Reported March 15, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$162M	—	$171M	—	-5.3%
Op. Income	$57M	—	$34M	—	66.9%
Gross Margin	70.2%	—	52.3%	—	17.9pp
Net Margin	29.7%	—	17.2%	—	12.5pp
EPS (Diluted)	$4.82	—	$2.99	—	61.2%
Free Cash Flow	$25M	—	-$12M	—	299.7%

Revenue Flow

Item	Amount
REVENUE	$162M
Cost of Revenue	$48M
GROSS PROFIT	$114M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$39M
SG&A Expenses	$43M
Other Expenses	$14M
Operating Expenses	$57M
Cost & Expenses	$106M
OPERATING INCOME	$57M
Interest Income	$134M
Interest Expense	$47M
Other Income/Expenses	$0
INCOME BEFORE TAX	$57M
Income Tax Expense	$8M
Net Income from Continuing Ops	$48M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$48M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$48M
D&A	$9M
EBIT	$57M
EBITDA	$65M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$162M
Cost of Revenue	$48M
GROSS PROFIT	$114M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$39M
SG&A Expenses	$43M
Other Expenses	$14M
Operating Expenses	$57M
Cost & Expenses	$106M
OPERATING INCOME	$57M
Interest Income	$134M
Interest Expense	$47M
Other Income/Expenses	$0
INCOME BEFORE TAX	$57M
Income Tax Expense	$8M
Net Income from Continuing Ops	$48M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$48M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$48M
D&A	$9M
EBIT	$57M
EBITDA	$65M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$48M
Depreciation & Amortization	$9M
Stock-Based Compensation	$2M
Deferred Income Tax	$2M
Other Non-Cash Items	-$13M
Change in Working Capital	$6M
OPERATING CASH FLOW	$55M
Capital Expenditure	-$30M
Acquisitions (Net)	$0
Purchases of Investments	-$282M
Sales/Maturities of Investments	$175M
Other Investing Activities	$181M
NET CASH FROM INVESTING	$44M
Net Debt Issuance	$24M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$2M
Other Financing Activities	-$92M
NET CASH FROM FINANCING	-$76M
FREE CASH FLOW	$25M
Net Change in Cash	$23M

Balance Sheet

Item	Amount
Cash & Equivalents	$443M
Short-Term Investments	$603M
Net Receivables	$882M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.9B
PP&E (Net)	$60M
Goodwill	$5M
Intangible Assets	$0
Long-Term Investments	$2.1B
Tax Assets	$0
Other Non-Current Assets	$117M
TOTAL NON-CURRENT ASSETS	$2.3B
TOTAL ASSETS	$4.2B
Account Payables	$2M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$3.2B
TOTAL CURRENT LIABILITIES	$3.2B
Long-Term Debt	$619M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$619M
TOTAL LIABILITIES	$3.8B
Common Stock	$219M
Additional Paid-In Capital	$0
Retained Earnings	$172M
Treasury Stock	$0
Accum. Other Comp. Income	-$11M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$380M
Minority Interest	$0
TOTAL EQUITY	$380M
TOTAL LIABILITIES & EQUITY	$4.2B
Total Debt	$619M
Net Debt	$176M