SFST FY 2020 Earnings Report — Southern First Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Southern First Bancshares, Inc.SFST

FY 2020 Earnings

Reported March 2, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$122M	—	$103M	—	19.0%
Op. Income	$24M	—	$35M	—	-32.9%
Gross Margin	63.5%	—	73.0%	—	-9.6pp
Net Margin	15.0%	—	27.1%	—	-12.1pp
EPS (Diluted)	$2.34	—	$3.58	—	-34.6%
Free Cash Flow	$13M	—	$10M	—	35.1%

Revenue Flow

Item	Amount
REVENUE	$122M
Cost of Revenue	$45M
GROSS PROFIT	$78M
R&D Expenses	$0
Selling & Marketing	$690.0K
General & Administrative	$36M
SG&A Expenses	$37M
Other Expenses	$17M
Operating Expenses	$54M
Cost & Expenses	$98M
OPERATING INCOME	$24M
Interest Income	$95M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$24M
Income Tax Expense	$5M
Net Income from Continuing Ops	$18M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$18M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$18M
D&A	$2M
EBIT	$24M
EBITDA	$26M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$122M
Cost of Revenue	$45M
GROSS PROFIT	$78M
R&D Expenses	$0
Selling & Marketing	$690.0K
General & Administrative	$36M
SG&A Expenses	$37M
Other Expenses	$17M
Operating Expenses	$54M
Cost & Expenses	$98M
OPERATING INCOME	$24M
Interest Income	$95M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$24M
Income Tax Expense	$5M
Net Income from Continuing Ops	$18M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$18M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$18M
D&A	$2M
EBIT	$24M
EBITDA	$26M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$18M
Depreciation & Amortization	$2M
Stock-Based Compensation	$1M
Deferred Income Tax	$0
Other Non-Cash Items	-$2M
Change in Working Capital	$775.0K
OPERATING CASH FLOW	$21M
Capital Expenditure	-$7M
Acquisitions (Net)	$0
Purchases of Investments	-$53M
Sales/Maturities of Investments	$30M
Other Investing Activities	-$201M
NET CASH FROM INVESTING	-$231M
Net Debt Issuance	-$85M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$267M
NET CASH FROM FINANCING	$183M
FREE CASH FLOW	$13M
Net Change in Cash	-$27M

Balance Sheet

Item	Amount
Cash & Equivalents	$79M
Short-Term Investments	$95M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$174M
PP&E (Net)	$60M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$2.2B
Tax Assets	$10M
Other Non-Current Assets	$80M
TOTAL NON-CURRENT ASSETS	$2.3B
TOTAL ASSETS	$2.5B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$2.1B
TOTAL CURRENT LIABILITIES	$2.1B
Long-Term Debt	$61M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$51M
TOTAL NON-CURRENT LIABILITIES	$112M
TOTAL LIABILITIES	$2.3B
Common Stock	$78.0K
Additional Paid-In Capital	$109M
Retained Earnings	$119M
Treasury Stock	$0
Accum. Other Comp. Income	$1M
Other Equity	-$698.0K
TOTAL STOCKHOLDERS' EQUITY	$228M
Minority Interest	$0
TOTAL EQUITY	$228M
TOTAL LIABILITIES & EQUITY	$2.5B
Total Debt	$61M
Net Debt	-$18M