MYFW FY 2023 Earnings Report — First Western Financial, Inc. Revenue & Financial Results | Market Cap Arena

First Western Financial, Inc.MYFW

FY 2023 Earnings

Reported March 15, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$165M	—	$128M	—	29.7%
Op. Income	$7M	—	$29M	—	-75.5%
Gross Margin	48.7%	—	83.6%	—	-34.8pp
Net Margin	3.2%	—	17.0%	—	-13.9pp
EPS (Diluted)	$0.54	—	$2.23	—	-75.8%
Free Cash Flow	$20M	—	$45M	—	-56.9%

Revenue Flow

Item	Amount
REVENUE	$165M
Cost of Revenue	$85M
GROSS PROFIT	$81M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$48M
SG&A Expenses	$49M
Other Expenses	$24M
Operating Expenses	$74M
Cost & Expenses	$158M
OPERATING INCOME	$7M
Interest Income	$145M
Interest Expense	$74M
Other Income/Expenses	$0
INCOME BEFORE TAX	$7M
Income Tax Expense	$2M
Net Income from Continuing Ops	$5M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5M
D&A	$2M
EBIT	$7M
EBITDA	$9M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$165M
Cost of Revenue	$85M
GROSS PROFIT	$81M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$48M
SG&A Expenses	$49M
Other Expenses	$24M
Operating Expenses	$74M
Cost & Expenses	$158M
OPERATING INCOME	$7M
Interest Income	$145M
Interest Expense	$74M
Other Income/Expenses	$0
INCOME BEFORE TAX	$7M
Income Tax Expense	$2M
Net Income from Continuing Ops	$5M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5M
D&A	$2M
EBIT	$7M
EBITDA	$9M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$5M
Depreciation & Amortization	$2M
Stock-Based Compensation	$2M
Deferred Income Tax	$2M
Other Non-Cash Items	$14M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$22M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$42M
Sales/Maturities of Investments	$49M
Other Investing Activities	-$71M
NET CASH FROM INVESTING	-$66M
Net Debt Issuance	-$21M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$123M
NET CASH FROM FINANCING	$102M
FREE CASH FLOW	$20M
Net Change in Cash	$58M

Balance Sheet

Item	Amount
Cash & Equivalents	$254M
Short-Term Investments	$0
Net Receivables	$21M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$275M
PP&E (Net)	$25M
Goodwill	$30M
Intangible Assets	$1M
Long-Term Investments	$2.6B
Tax Assets	$6M
Other Non-Current Assets	$41M
TOTAL NON-CURRENT ASSETS	$2.7B
TOTAL ASSETS	$3.0B
Account Payables	$4M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$2.5B
TOTAL CURRENT LIABILITIES	$2.5B
Long-Term Debt	$178M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$22M
TOTAL NON-CURRENT LIABILITIES	$200M
TOTAL LIABILITIES	$2.7B
Common Stock	$0
Additional Paid-In Capital	$193M
Retained Earnings	$51M
Treasury Stock	$0
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$243M
Minority Interest	$0
TOTAL EQUITY	$243M
TOTAL LIABILITIES & EQUITY	$3.0B
Total Debt	$178M
Net Debt	-$76M