LX FY 2022 Earnings Report — LexinFintech Holdings Ltd. Revenue & Financial Results | Market Cap Arena

LexinFintech Holdings Ltd.LX

FY 2022 Earnings

Reported April 26, 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	$1.4B	—	$1.7B	—	-13.3%
Op. Income	$49M	—	$449M	—	-89.1%
Gross Margin	30.8%	—	50.5%	—	-19.8pp
Net Margin	8.3%	—	20.5%	—	-12.2pp
EPS (Diluted)	$0.65	—	$1.67	—	-61.4%
Free Cash Flow	-$7M	—	$372M	—	-102.0%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$998M
GROSS PROFIT	$443M
R&D Expenses	$85M
Selling & Marketing	$246M
General & Administrative	$63M
SG&A Expenses	$309M
Other Expenses	$0
Operating Expenses	$395M
Cost & Expenses	$1.4B
OPERATING INCOME	$49M
Interest Income	$0
Interest Expense	$8M
Other Income/Expenses	$101M
INCOME BEFORE TAX	$150M
Income Tax Expense	$30M
Net Income from Continuing Ops	$121M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$120M
Net Income Deductions	-$7M
BOTTOM LINE NET INCOME	$127M
D&A	$22M
EBIT	$158M
EBITDA	$180M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$998M
GROSS PROFIT	$443M
R&D Expenses	$85M
Selling & Marketing	$246M
General & Administrative	$63M
SG&A Expenses	$309M
Other Expenses	$0
Operating Expenses	$395M
Cost & Expenses	$1.4B
OPERATING INCOME	$49M
Interest Income	$0
Interest Expense	$8M
Other Income/Expenses	$101M
INCOME BEFORE TAX	$150M
Income Tax Expense	$30M
Net Income from Continuing Ops	$121M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$120M
Net Income Deductions	-$7M
BOTTOM LINE NET INCOME	$127M
D&A	$22M
EBIT	$158M
EBITDA	$180M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$121M
Depreciation & Amortization	$22M
Stock-Based Compensation	$23M
Deferred Income Tax	$5M
Other Non-Cash Items	$251M
Change in Working Capital	-$406M
OPERATING CASH FLOW	$14M
Capital Expenditure	-$22M
Acquisitions (Net)	$8M
Purchases of Investments	-$628M
Sales/Maturities of Investments	$584.5K
Other Investing Activities	$289M
NET CASH FROM INVESTING	-$352M
Net Debt Issuance	$208M
Common Stock Repurchased	-$48M
Common Dividends Paid	$0
Other Financing Activities	$2M
NET CASH FROM FINANCING	$162M
FREE CASH FLOW	-$7M
Net Change in Cash	-$174M

Balance Sheet

Item	Amount
Cash & Equivalents	$218M
Short-Term Investments	$39M
Net Receivables	$1.0B
Inventory	$8M
Other Current Assets	$909M
TOTAL CURRENT ASSETS	$2.6B
PP&E (Net)	$42M
Goodwill	$0
Intangible Assets	$136M
Long-Term Investments	$51M
Tax Assets	$167M
Other Non-Current Assets	$333M
TOTAL NON-CURRENT ASSETS	$729M
TOTAL ASSETS	$3.3B
Account Payables	$60M
Short-Term Debt	$1.1B
Deferred Revenue	$135M
Other Current Liabilities	$255M
TOTAL CURRENT LIABILITIES	$1.8B
Long-Term Debt	$217M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$8M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$240M
TOTAL LIABILITIES	$2.1B
Common Stock	$34.8K
Additional Paid-In Capital	$450M
Retained Earnings	$715M
Treasury Stock	-$48M
Accum. Other Comp. Income	$146M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$3.3B
Total Debt	$1.4B
Net Debt	$1.1B