SHBI FY 2022 Earnings Report — Shore Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Shore Bancshares, Inc.SHBI

FY 2022 Earnings

Reported March 30, 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	$137M	—	$84M	—	63.7%
Op. Income	$42M	—	$21M	—	99.0%
Gross Margin	89.4%	—	93.2%	—	-3.8pp
Net Margin	22.8%	—	18.4%	—	4.4pp
EPS (Diluted)	$1.57	—	$1.17	—	34.2%
Free Cash Flow	$50M	—	-$11M	—	558.6%

Revenue Flow

Item	Amount
REVENUE	$137M
Cost of Revenue	$14M
GROSS PROFIT	$122M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$48M
SG&A Expenses	$48M
Other Expenses	$32M
Operating Expenses	$80M
Cost & Expenses	$95M
OPERATING INCOME	$42M
Interest Income	$114M
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$42M
Income Tax Expense	$11M
Net Income from Continuing Ops	$31M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$31M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$31M
D&A	$6M
EBIT	$42M
EBITDA	$48M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$137M
Cost of Revenue	$14M
GROSS PROFIT	$122M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$48M
SG&A Expenses	$48M
Other Expenses	$32M
Operating Expenses	$80M
Cost & Expenses	$95M
OPERATING INCOME	$42M
Interest Income	$114M
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$42M
Income Tax Expense	$11M
Net Income from Continuing Ops	$31M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$31M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$31M
D&A	$6M
EBIT	$42M
EBITDA	$48M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$31M
Depreciation & Amortization	$6M
Stock-Based Compensation	$636.0K
Deferred Income Tax	-$1M
Other Non-Cash Items	$26M
Change in Working Capital	-$10M
OPERATING CASH FLOW	$53M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$208M
Sales/Maturities of Investments	$73M
Other Investing Activities	-$444M
NET CASH FROM INVESTING	-$582M
Net Debt Issuance	$26M
Common Stock Repurchased	$0
Common Dividends Paid	-$10M
Other Financing Activities	-$16M
NET CASH FROM FINANCING	$811.0K
FREE CASH FLOW	$50M
Net Change in Cash	-$528M

Balance Sheet

Item	Amount
Cash & Equivalents	$55M
Short-Term Investments	$84M
Net Receivables	$9M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$151M
PP&E (Net)	$61M
Goodwill	$63M
Intangible Assets	$11M
Long-Term Investments	$3.1B
Tax Assets	$7M
Other Non-Current Assets	$79M
TOTAL NON-CURRENT ASSETS	$3.3B
TOTAL ASSETS	$3.5B
Account Payables	$1M
Short-Term Debt	$40M
Deferred Revenue	$0
Other Current Liabilities	$3.0B
TOTAL CURRENT LIABILITIES	$3.1B
Long-Term Debt	$43M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$8M
TOTAL NON-CURRENT LIABILITIES	$61M
TOTAL LIABILITIES	$3.1B
Common Stock	$199.0K
Additional Paid-In Capital	$201M
Retained Earnings	$172M
Treasury Stock	$0
Accum. Other Comp. Income	-$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$364M
Minority Interest	$0
TOTAL EQUITY	$364M
TOTAL LIABILITIES & EQUITY	$3.5B
Total Debt	$93M
Net Debt	$37M