PLMR FY 2022 Earnings Report — Palomar Holdings, Inc. Revenue & Financial Results | Market Cap Arena

Palomar Holdings, Inc.PLMR

FY 2022 Earnings

Reported March 1, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$327M	—	$248M	—	32.0%
Op. Income	$68M	—	$57M	—	18.2%
Gross Margin	42.1%	—	44.8%	—	-2.7pp
Net Margin	15.9%	—	18.5%	—	-2.6pp
EPS (Diluted)	$2.02	—	$1.76	—	14.8%
Free Cash Flow	$164M	—	$83M	—	97.3%

Revenue Flow

Item	Amount
REVENUE	$327M
Cost of Revenue	$189M
GROSS PROFIT	$138M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$70M
Operating Expenses	$70M
Cost & Expenses	$260M
OPERATING INCOME	$68M
Interest Income	$14M
Interest Expense	$873.0K
Other Income/Expenses	$0
INCOME BEFORE TAX	$68M
Income Tax Expense	$15M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$52M
D&A	$4M
EBIT	$68M
EBITDA	$73M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$327M
Cost of Revenue	$189M
GROSS PROFIT	$138M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$70M
Operating Expenses	$70M
Cost & Expenses	$260M
OPERATING INCOME	$68M
Interest Income	$14M
Interest Expense	$873.0K
Other Income/Expenses	$0
INCOME BEFORE TAX	$68M
Income Tax Expense	$15M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$52M
D&A	$4M
EBIT	$68M
EBITDA	$73M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$52M
Depreciation & Amortization	$4M
Stock-Based Compensation	$12M
Deferred Income Tax	-$4M
Other Non-Cash Items	$9M
Change in Working Capital	$96M
OPERATING CASH FLOW	$170M
Capital Expenditure	-$6M
Acquisitions (Net)	-$15.0K
Purchases of Investments	-$393M
Sales/Maturities of Investments	$243M
Other Investing Activities	-$7M
NET CASH FROM INVESTING	-$157M
Net Debt Issuance	$36M
Common Stock Repurchased	-$34M
Common Dividends Paid	$0
Other Financing Activities	$3M
NET CASH FROM FINANCING	$5M
FREE CASH FLOW	$164M
Net Change in Cash	$18M

Balance Sheet

Item	Amount
Cash & Equivalents	$68M
Short-Term Investments	$515M
Net Receivables	$356M
Inventory	$0
Other Current Assets	-$1.1B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$603.0K
Goodwill	$0
Intangible Assets	$8M
Long-Term Investments	$39M
Tax Assets	$0
Other Non-Current Assets	-$47M
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$1.3B
Account Payables	$172M
Short-Term Debt	$36M
Deferred Revenue	$0
Other Current Liabilities	-$208M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$38M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$217M
TOTAL NON-CURRENT LIABILITIES	$256M
TOTAL LIABILITIES	$922M
Common Stock	$3.0K
Additional Paid-In Capital	$334M
Retained Earnings	$88M
Treasury Stock	$0
Accum. Other Comp. Income	-$37M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$385M
Minority Interest	$0
TOTAL EQUITY	$385M
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$36M
Net Debt	-$32M