OSBC FY 2023 Earnings Report — Old Second Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

Old Second Bancorp, Inc.OSBC

FY 2023 Earnings

Reported March 7, 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	$321M	—	$255M	—	25.8%
Op. Income	$124M	—	$92M	—	35.9%
Gross Margin	82.4%	—	93.4%	—	-11.0pp
Net Margin	28.6%	—	26.4%	—	2.2pp
EPS (Diluted)	$2.02	—	$1.49	—	35.6%
Free Cash Flow	$104M	—	$93M	—	11.8%

Revenue Flow

Item	Amount
REVENUE	$321M
Cost of Revenue	$57M
GROSS PROFIT	$264M
R&D Expenses	$0
Selling & Marketing	$721.0K
General & Administrative	$92M
SG&A Expenses	$93M
Other Expenses	$47M
Operating Expenses	$140M
Cost & Expenses	$197M
OPERATING INCOME	$124M
Interest Income	$290M
Interest Expense	$40M
Other Income/Expenses	$0
INCOME BEFORE TAX	$124M
Income Tax Expense	$33M
Net Income from Continuing Ops	$92M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$92M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$92M
D&A	$8M
EBIT	$124M
EBITDA	$132M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$321M
Cost of Revenue	$57M
GROSS PROFIT	$264M
R&D Expenses	$0
Selling & Marketing	$721.0K
General & Administrative	$92M
SG&A Expenses	$93M
Other Expenses	$47M
Operating Expenses	$140M
Cost & Expenses	$197M
OPERATING INCOME	$124M
Interest Income	$290M
Interest Expense	$40M
Other Income/Expenses	$0
INCOME BEFORE TAX	$124M
Income Tax Expense	$33M
Net Income from Continuing Ops	$92M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$92M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$92M
D&A	$8M
EBIT	$124M
EBITDA	$132M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$92M
Depreciation & Amortization	$8M
Stock-Based Compensation	$4M
Deferred Income Tax	$2M
Other Non-Cash Items	$19M
Change in Working Capital	-$7M
OPERATING CASH FLOW	$116M
Capital Expenditure	-$12M
Acquisitions (Net)	$0
Purchases of Investments	-$13M
Sales/Maturities of Investments	$392M
Other Investing Activities	-$204M
NET CASH FROM INVESTING	$162M
Net Debt Issuance	$261M
Common Stock Repurchased	-$605.0K
Common Dividends Paid	-$9M
Other Financing Activities	-$544M
NET CASH FROM FINANCING	-$293M
FREE CASH FLOW	$104M
Net Change in Cash	-$15M

Balance Sheet

Item	Amount
Cash & Equivalents	$100M
Short-Term Investments	$1.2B
Net Receivables	$395M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.7B
PP&E (Net)	$79M
Goodwill	$86M
Intangible Assets	$22M
Long-Term Investments	$3.6B
Tax Assets	$31M
Other Non-Current Assets	$211M
TOTAL NON-CURRENT ASSETS	$4.0B
TOTAL ASSETS	$5.7B
Account Payables	$0
Short-Term Debt	$431M
Deferred Revenue	$0
Other Current Liabilities	$4.6B
TOTAL CURRENT LIABILITIES	$5.0B
Long-Term Debt	$85M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$58M
TOTAL NON-CURRENT LIABILITIES	$143M
TOTAL LIABILITIES	$5.1B
Common Stock	$45M
Additional Paid-In Capital	$202M
Retained Earnings	$393M
Treasury Stock	-$177.0K
Accum. Other Comp. Income	-$63M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$577M
Minority Interest	$0
TOTAL EQUITY	$577M
TOTAL LIABILITIES & EQUITY	$5.7B
Total Debt	$517M
Net Debt	$416M