NNINelnet, Inc.

$5B

Q1 2022 Earnings

Financial Services Financial - Credit Services

Income Statement

Revenue

$494M+45.9% YoY

Gross Profit

$446M90.4% margin

Operating Income

$241M48.7% margin

Net Income

$187M37.8% margin

EPS (Diluted)

$4.91

QoQ Revenue Growth

+17.3%

Cash Flow

Operating Cash Flow

$275M

Free Cash Flow

$260M

Stock-Based Comp.

$3M

Balance Sheet

Total Assets

$21.0B

Total Liabilities

$17.9B

Stockholders' Equity

$3.1B

Cash & Equivalents

$163M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$494M	$339M	+45.9%
Gross Profit	$446M	$328M	+36.1%
Operating Income	$241M	$158M	+52.5%
Net Income	$187M	$124M	+51.0%

Revenue Segments

Loan Servicing And Systems Revenue

$136M27%

Education Technology Services And Payment Processing Services

$112M23%

Government Servicing - Nelnet

$61M12%

Government Servicing - Great Lakes

$48M10%

Education Technology And Services

$43M9%

Payment Processing

$38M8%

Tuition Payment Plan Services

$31M6%

Private Education And Consumer Loan Servicing

$13M3%

Software Services

$7M1%

FFELP Servicing

$4M1%

Outsourced Services Revenue And Other

$3M1%

Other Service Offering

$248,0000%