MBCN FY 2021 Earnings Report — Middlefield Banc Corp. Revenue & Financial Results | Market Cap Arena

Middlefield Banc Corp.MBCN

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	$60M	—	$59M	—	1.6%
Op. Income	$23M	—	$10M	—	132.8%
Gross Margin	91.8%	—	67.4%	—	24.3pp
Net Margin	31.3%	—	14.2%	—	17.0pp
EPS (Diluted)	$3.00	—	$1.31	—	129.0%
Free Cash Flow	$15M	—	$14M	—	5.8%

Revenue Flow

Item	Amount
REVENUE	$60M
Cost of Revenue	$5M
GROSS PROFIT	$55M
R&D Expenses	$0
Selling & Marketing	$885.0K
General & Administrative	$18M
SG&A Expenses	$19M
Other Expenses	$13M
Operating Expenses	$32M
Cost & Expenses	$37M
OPERATING INCOME	$23M
Interest Income	$52M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	$4M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$2M
EBIT	$23M
EBITDA	$25M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$60M
Cost of Revenue	$5M
GROSS PROFIT	$55M
R&D Expenses	$0
Selling & Marketing	$885.0K
General & Administrative	$18M
SG&A Expenses	$19M
Other Expenses	$13M
Operating Expenses	$32M
Cost & Expenses	$37M
OPERATING INCOME	$23M
Interest Income	$52M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	$4M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$2M
EBIT	$23M
EBITDA	$25M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$19M
Depreciation & Amortization	$2M
Stock-Based Compensation	$478.0K
Deferred Income Tax	-$401.0K
Other Non-Cash Items	-$6M
Change in Working Capital	$735.0K
OPERATING CASH FLOW	$15M
Capital Expenditure	-$605.0K
Acquisitions (Net)	$0
Purchases of Investments	-$69M
Sales/Maturities of Investments	$12M
Other Investing Activities	$129M
NET CASH FROM INVESTING	$71M
Net Debt Issuance	-$4M
Common Stock Repurchased	-$12M
Common Dividends Paid	-$4M
Other Financing Activities	-$58M
NET CASH FROM FINANCING	-$79M
FREE CASH FLOW	$15M
Net Change in Cash	$7M

Balance Sheet

Item	Amount
Cash & Equivalents	$97M
Short-Term Investments	$170M
Net Receivables	$4M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$272M
PP&E (Net)	$18M
Goodwill	$15M
Intangible Assets	$1M
Long-Term Investments	$969M
Tax Assets	$2M
Other Non-Current Assets	$54M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$1.3B
Account Payables	$237.0K
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$1.2B
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$8M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1M
TOTAL NON-CURRENT LIABILITIES	$15M
TOTAL LIABILITIES	$1.2B
Common Stock	$87M
Additional Paid-In Capital	$0
Retained Earnings	$84M
Treasury Stock	-$29M
Accum. Other Comp. Income	$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$145M
Minority Interest	$0
TOTAL EQUITY	$145M
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$14M
Net Debt	-$83M