TCBX FY 2020 Earnings Report — Third Coast Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Third Coast Bancshares, Inc.TCBX

FY 2020 Earnings

Reported December 31, 2020

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	$84M	—	$50M	—	66.2%
Op. Income	$16M	—	$3M	—	382.8%
Gross Margin	73.8%	—	65.0%	—	8.8pp
Net Margin	14.5%	—	4.7%	—	9.8pp
EPS (Diluted)	$1.91	—	$0.33	—	478.8%
Free Cash Flow	-$5M	—	$611.0K	—	-919.6%

Revenue Flow

Item	Amount
REVENUE	$84M
Cost of Revenue	$22M
GROSS PROFIT	$62M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$29M
SG&A Expenses	$31M
Other Expenses	$15M
Operating Expenses	$46M
Cost & Expenses	$68M
OPERATING INCOME	$16M
Interest Income	$82M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$16M
Income Tax Expense	$3M
Net Income from Continuing Ops	$12M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$12M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$12M
D&A	$78.0K
EBIT	$16M
EBITDA	$16M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$84M
Cost of Revenue	$22M
GROSS PROFIT	$62M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$29M
SG&A Expenses	$31M
Other Expenses	$15M
Operating Expenses	$46M
Cost & Expenses	$68M
OPERATING INCOME	$16M
Interest Income	$82M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$16M
Income Tax Expense	$3M
Net Income from Continuing Ops	$12M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$12M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$12M
D&A	$78.0K
EBIT	$16M
EBITDA	$16M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$12M
Depreciation & Amortization	$78.0K
Stock-Based Compensation	$275.0K
Deferred Income Tax	-$2M
Other Non-Cash Items	-$4M
Change in Working Capital	-$10M
OPERATING CASH FLOW	-$4M
Capital Expenditure	-$1M
Acquisitions (Net)	$16M
Purchases of Investments	-$1.9B
Sales/Maturities of Investments	$1.9B
Other Investing Activities	-$493M
NET CASH FROM INVESTING	-$500M
Net Debt Issuance	$44M
Common Stock Repurchased	-$38.0K
Common Dividends Paid	$0
Other Financing Activities	$568M
NET CASH FROM FINANCING	$611M
FREE CASH FLOW	-$5M
Net Change in Cash	$107M

Balance Sheet

Item	Amount
Cash & Equivalents	$201M
Short-Term Investments	$26M
Net Receivables	$14M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$241M
PP&E (Net)	$15M
Goodwill	$18M
Intangible Assets	$1M
Long-Term Investments	$1.5B
Tax Assets	$4M
Other Non-Current Assets	$41M
TOTAL NON-CURRENT ASSETS	$1.6B
TOTAL ASSETS	$1.9B
Account Payables	$1M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$1.6B
TOTAL CURRENT LIABILITIES	$1.6B
Long-Term Debt	$34M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$77M
TOTAL NON-CURRENT LIABILITIES	$111M
TOTAL LIABILITIES	$1.7B
Common Stock	$6M
Additional Paid-In Capital	$91M
Retained Earnings	$25M
Treasury Stock	-$979.0K
Accum. Other Comp. Income	$280.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$122M
Minority Interest	$0
TOTAL EQUITY	$122M
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$34M
Net Debt	-$168M