MCBS FY 2020 Earnings Report — MetroCity Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

MetroCity Bankshares, Inc.MCBS

FY 2020 Earnings

Reported March 15, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$103M	—	$121M	—	-14.9%
Op. Income	$49M	—	$61M	—	-19.9%
Gross Margin	85.5%	—	81.6%	—	3.9pp
Net Margin	35.3%	—	37.0%	—	-1.6pp
EPS (Diluted)	$1.41	—	$1.81	—	-22.1%
Free Cash Flow	$142M	—	$31M	—	356.6%

Revenue Flow

Item	Amount
REVENUE	$103M
Cost of Revenue	$15M
GROSS PROFIT	$88M
R&D Expenses	$0
Selling & Marketing	$566.0K
General & Administrative	$26M
SG&A Expenses	$27M
Other Expenses	$12M
Operating Expenses	$39M
Cost & Expenses	$54M
OPERATING INCOME	$49M
Interest Income	$78M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$49M
Income Tax Expense	$12M
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	$3M
EBIT	$49M
EBITDA	$52M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$103M
Cost of Revenue	$15M
GROSS PROFIT	$88M
R&D Expenses	$0
Selling & Marketing	$566.0K
General & Administrative	$26M
SG&A Expenses	$27M
Other Expenses	$12M
Operating Expenses	$39M
Cost & Expenses	$54M
OPERATING INCOME	$49M
Interest Income	$78M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$49M
Income Tax Expense	$12M
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	$3M
EBIT	$49M
EBITDA	$52M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$36M
Depreciation & Amortization	$3M
Stock-Based Compensation	$2M
Deferred Income Tax	-$2M
Other Non-Cash Items	$89M
Change in Working Capital	$14M
OPERATING CASH FLOW	$143M
Capital Expenditure	-$537.0K
Acquisitions (Net)	$0
Purchases of Investments	-$6M
Sales/Maturities of Investments	$4M
Other Investing Activities	-$475M
NET CASH FROM INVESTING	-$478M
Net Debt Issuance	$47M
Common Stock Repurchased	$0
Common Dividends Paid	-$10M
Other Financing Activities	$173M
NET CASH FROM FINANCING	$210M
FREE CASH FLOW	$142M
Net Change in Cash	-$126M

Balance Sheet

Item	Amount
Cash & Equivalents	$141M
Short-Term Investments	$18M
Net Receivables	$11M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$170M
PP&E (Net)	$24M
Goodwill	$0
Intangible Assets	$13M
Long-Term Investments	$1.6B
Tax Assets	$0
Other Non-Current Assets	$71M
TOTAL NON-CURRENT ASSETS	$1.7B
TOTAL ASSETS	$1.9B
Account Payables	$222.0K
Short-Term Debt	$30M
Deferred Revenue	$0
Other Current Liabilities	$1.5B
TOTAL CURRENT LIABILITIES	$1.5B
Long-Term Debt	$80M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$51M
TOTAL NON-CURRENT LIABILITIES	$143M
TOTAL LIABILITIES	$1.7B
Common Stock	$257.0K
Additional Paid-In Capital	$56M
Retained Earnings	$189M
Treasury Stock	$0
Accum. Other Comp. Income	$195.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$245M
Minority Interest	$0
TOTAL EQUITY	$245M
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$121M
Net Debt	-$19M