LX FY 2021 Earnings Report — LexinFintech Holdings Ltd. Revenue & Financial Results | Market Cap Arena

LexinFintech Holdings Ltd.LX

FY 2021 Earnings

Reported April 29, 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	$1.7B	—	$1.7B	—	-2.3%
Op. Income	$449M	—	$209M	—	114.2%
Gross Margin	50.5%	—	31.2%	—	19.3pp
Net Margin	20.5%	—	5.1%	—	15.4pp
EPS (Diluted)	$1.67	—	$0.46	—	267.3%
Free Cash Flow	$372M	—	-$43M	—	955.5%

Revenue Flow

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$823M
GROSS PROFIT	$840M
R&D Expenses	$80M
Selling & Marketing	$242M
General & Administrative	$69M
SG&A Expenses	$311M
Other Expenses	$0
Operating Expenses	$391M
Cost & Expenses	$1.2B
OPERATING INCOME	$449M
Interest Income	$0
Interest Expense	$9M
Other Income/Expenses	-$44M
INCOME BEFORE TAX	$405M
Income Tax Expense	$64M
Net Income from Continuing Ops	$341M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$341M
Net Income Deductions	-$7M
BOTTOM LINE NET INCOME	$348M
D&A	$21M
EBIT	$414M
EBITDA	$435M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$823M
GROSS PROFIT	$840M
R&D Expenses	$80M
Selling & Marketing	$242M
General & Administrative	$69M
SG&A Expenses	$311M
Other Expenses	$0
Operating Expenses	$391M
Cost & Expenses	$1.2B
OPERATING INCOME	$449M
Interest Income	$0
Interest Expense	$9M
Other Income/Expenses	-$44M
INCOME BEFORE TAX	$405M
Income Tax Expense	$64M
Net Income from Continuing Ops	$341M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$341M
Net Income Deductions	-$7M
BOTTOM LINE NET INCOME	$348M
D&A	$21M
EBIT	$414M
EBITDA	$435M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$341M
Depreciation & Amortization	$21M
Stock-Based Compensation	$27M
Deferred Income Tax	-$58M
Other Non-Cash Items	$277M
Change in Working Capital	-$219M
OPERATING CASH FLOW	$390M
Capital Expenditure	-$18M
Acquisitions (Net)	$0
Purchases of Investments	-$568M
Sales/Maturities of Investments	$10M
Other Investing Activities	$637M
NET CASH FROM INVESTING	$61M
Net Debt Issuance	-$261M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$1M
NET CASH FROM FINANCING	-$260M
FREE CASH FLOW	$372M
Net Change in Cash	$187M

Balance Sheet

Item	Amount
Cash & Equivalents	$389M
Short-Term Investments	$0
Net Receivables	$689M
Inventory	$7M
Other Current Assets	$1.1B
TOTAL CURRENT ASSETS	$2.4B
PP&E (Net)	$29M
Goodwill	$0
Intangible Assets	$141M
Long-Term Investments	$69M
Tax Assets	$172M
Other Non-Current Assets	$228M
TOTAL NON-CURRENT ASSETS	$639M
TOTAL ASSETS	$3.1B
Account Payables	$65M
Short-Term Debt	$716M
Deferred Revenue	$67M
Other Current Liabilities	$353M
TOTAL CURRENT LIABILITIES	$1.5B
Long-Term Debt	$377M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$8M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$405M
TOTAL LIABILITIES	$1.9B
Common Stock	$34.6K
Additional Paid-In Capital	$427M
Retained Earnings	$613M
Treasury Stock	$0
Accum. Other Comp. Income	$133M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$6M
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$3.1B
Total Debt	$1.1B
Net Debt	$732M