INBK FY 2022 Earnings Report — First Internet Bancorp Revenue & Financial Results | Market Cap Arena

First Internet BancorpINBK

FY 2022 Earnings

Reported March 14, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$174M	—	$162M	—	7.2%
Op. Income	$40M	—	$57M	—	-29.1%
Gross Margin	62.7%	—	70.2%	—	-7.5pp
Net Margin	20.5%	—	29.7%	—	-9.2pp
EPS (Diluted)	$3.70	—	$4.82	—	-23.2%
Free Cash Flow	$65M	—	$25M	—	161.4%

Revenue Flow

Item	Amount
REVENUE	$174M
Cost of Revenue	$65M
GROSS PROFIT	$109M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$43M
SG&A Expenses	$46M
Other Expenses	$23M
Operating Expenses	$69M
Cost & Expenses	$134M
OPERATING INCOME	$40M
Interest Income	$157M
Interest Expense	$60M
Other Income/Expenses	$0
INCOME BEFORE TAX	$40M
Income Tax Expense	$5M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$36M
D&A	$9M
EBIT	$40M
EBITDA	$49M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$174M
Cost of Revenue	$65M
GROSS PROFIT	$109M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$43M
SG&A Expenses	$46M
Other Expenses	$23M
Operating Expenses	$69M
Cost & Expenses	$134M
OPERATING INCOME	$40M
Interest Income	$157M
Interest Expense	$60M
Other Income/Expenses	$0
INCOME BEFORE TAX	$40M
Income Tax Expense	$5M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$36M
D&A	$9M
EBIT	$40M
EBITDA	$49M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$36M
Depreciation & Amortization	$9M
Stock-Based Compensation	$2M
Deferred Income Tax	$5M
Other Non-Cash Items	$25M
Change in Working Capital	$7M
OPERATING CASH FLOW	$83M
Capital Expenditure	-$18M
Acquisitions (Net)	$0
Purchases of Investments	-$58M
Sales/Maturities of Investments	$88M
Other Investing Activities	-$614M
NET CASH FROM INVESTING	-$601M
Net Debt Issuance	$100M
Common Stock Repurchased	-$28M
Common Dividends Paid	-$2M
Other Financing Activities	$262M
NET CASH FROM FINANCING	$332M
FREE CASH FLOW	$65M
Net Change in Cash	-$186M

Balance Sheet

Item	Amount
Cash & Equivalents	$257M
Short-Term Investments	$390M
Net Receivables	$950M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$73M
Goodwill	$5M
Intangible Assets	$0
Long-Term Investments	$2.7B
Tax Assets	$0
Other Non-Current Assets	$119M
TOTAL NON-CURRENT ASSETS	$2.9B
TOTAL ASSETS	$4.5B
Account Payables	$3M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$3.4B
TOTAL CURRENT LIABILITIES	$3.5B
Long-Term Debt	$719M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$719M
TOTAL LIABILITIES	$4.2B
Common Stock	$193M
Additional Paid-In Capital	$0
Retained Earnings	$206M
Treasury Stock	$0
Accum. Other Comp. Income	-$34M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$365M
Minority Interest	$0
TOTAL EQUITY	$365M
TOTAL LIABILITIES & EQUITY	$4.5B
Total Debt	$719M
Net Debt	$463M