MCBS FY 2021 Earnings Report — MetroCity Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

MetroCity Bankshares, Inc.MCBS

FY 2021 Earnings

Reported March 11, 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	$139M	—	$103M	—	35.2%
Op. Income	$83M	—	$49M	—	69.4%
Gross Margin	91.7%	—	85.5%	—	6.3pp
Net Margin	44.3%	—	35.3%	—	9.0pp
EPS (Diluted)	$2.39	—	$1.41	—	69.5%
Free Cash Flow	$65M	—	$142M	—	-54.2%

Revenue Flow

Item	Amount
REVENUE	$139M
Cost of Revenue	$12M
GROSS PROFIT	$128M
R&D Expenses	$0
Selling & Marketing	$541.0K
General & Administrative	$32M
SG&A Expenses	$32M
Other Expenses	$13M
Operating Expenses	$45M
Cost & Expenses	$57M
OPERATING INCOME	$83M
Interest Income	$109M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$83M
Income Tax Expense	$21M
Net Income from Continuing Ops	$62M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$62M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$62M
D&A	$3M
EBIT	$83M
EBITDA	$85M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$139M
Cost of Revenue	$12M
GROSS PROFIT	$128M
R&D Expenses	$0
Selling & Marketing	$541.0K
General & Administrative	$32M
SG&A Expenses	$32M
Other Expenses	$13M
Operating Expenses	$45M
Cost & Expenses	$57M
OPERATING INCOME	$83M
Interest Income	$109M
Interest Expense	$5M
Other Income/Expenses	$0
INCOME BEFORE TAX	$83M
Income Tax Expense	$21M
Net Income from Continuing Ops	$62M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$62M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$62M
D&A	$3M
EBIT	$83M
EBITDA	$85M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$62M
Depreciation & Amortization	$3M
Stock-Based Compensation	$1M
Deferred Income Tax	-$3M
Other Non-Cash Items	$7M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$65M
Capital Expenditure	-$384.0K
Acquisitions (Net)	$0
Purchases of Investments	-$22M
Sales/Maturities of Investments	$3M
Other Investing Activities	-$911M
NET CASH FROM INVESTING	-$931M
Net Debt Issuance	$390M
Common Stock Repurchased	-$6M
Common Dividends Paid	-$12M
Other Financing Activities	$783M
NET CASH FROM FINANCING	$1.2B
FREE CASH FLOW	$65M
Net Change in Cash	$291M

Balance Sheet

Item	Amount
Cash & Equivalents	$433M
Short-Term Investments	$26M
Net Receivables	$11M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$469M
PP&E (Net)	$22M
Goodwill	$0
Intangible Assets	$8M
Long-Term Investments	$2.5B
Tax Assets	$0
Other Non-Current Assets	$107M
TOTAL NON-CURRENT ASSETS	$2.6B
TOTAL ASSETS	$3.1B
Account Payables	$204.0K
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$2.3B
TOTAL CURRENT LIABILITIES	$2.3B
Long-Term Debt	$500M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$42M
TOTAL NON-CURRENT LIABILITIES	$553M
TOTAL LIABILITIES	$2.8B
Common Stock	$255.0K
Additional Paid-In Capital	$52M
Retained Earnings	$239M
Treasury Stock	$0
Accum. Other Comp. Income	-$168.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$290M
Minority Interest	$0
TOTAL EQUITY	$290M
TOTAL LIABILITIES & EQUITY	$3.1B
Total Debt	$510M
Net Debt	$78M