TCBX FY 2022 Earnings Report — Third Coast Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Third Coast Bancshares, Inc.TCBX

FY 2022 Earnings

Reported March 15, 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	$160M	—	$103M	—	55.2%
Op. Income	$23M	—	$14M	—	60.0%
Gross Margin	69.0%	—	80.6%	—	-11.7pp
Net Margin	11.6%	—	11.1%	—	0.6pp
EPS (Diluted)	$1.25	—	$1.40	—	-10.7%
Free Cash Flow	$10M	—	-$1M	—	1026.8%

Revenue Flow

Item	Amount
REVENUE	$160M
Cost of Revenue	$50M
GROSS PROFIT	$110M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$57M
SG&A Expenses	$58M
Other Expenses	$29M
Operating Expenses	$87M
Cost & Expenses	$137M
OPERATING INCOME	$23M
Interest Income	$154M
Interest Expense	$37M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	$5M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$17M
D&A	$3M
EBIT	$23M
EBITDA	$26M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$160M
Cost of Revenue	$50M
GROSS PROFIT	$110M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$57M
SG&A Expenses	$58M
Other Expenses	$29M
Operating Expenses	$87M
Cost & Expenses	$137M
OPERATING INCOME	$23M
Interest Income	$154M
Interest Expense	$37M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	$5M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$17M
D&A	$3M
EBIT	$23M
EBITDA	$26M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$19M
Depreciation & Amortization	$3M
Stock-Based Compensation	$1M
Deferred Income Tax	-$1M
Other Non-Cash Items	$6M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$22M
Capital Expenditure	-$12M
Acquisitions (Net)	$0
Purchases of Investments	-$2.2B
Sales/Maturities of Investments	$2.0B
Other Investing Activities	-$1.1B
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	$60M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$1.1B
NET CASH FROM FINANCING	$1.2B
FREE CASH FLOW	$10M
Net Change in Cash	$5M

Balance Sheet

Item	Amount
Cash & Equivalents	$330M
Short-Term Investments	$176M
Net Receivables	$18M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$524M
PP&E (Net)	$47M
Goodwill	$18M
Intangible Assets	$1M
Long-Term Investments	$3.1B
Tax Assets	$6M
Other Non-Current Assets	$90M
TOTAL NON-CURRENT ASSETS	$3.2B
TOTAL ASSETS	$3.8B
Account Payables	$3M
Short-Term Debt	$31M
Deferred Revenue	$0
Other Current Liabilities	$3.2B
TOTAL CURRENT LIABILITIES	$3.3B
Long-Term Debt	$80M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$23M
TOTAL NON-CURRENT LIABILITIES	$122M
TOTAL LIABILITIES	$3.4B
Common Stock	$14M
Additional Paid-In Capital	$318M
Retained Earnings	$53M
Treasury Stock	-$1M
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$382M
Minority Interest	$0
TOTAL EQUITY	$382M
TOTAL LIABILITIES & EQUITY	$3.8B
Total Debt	$129M
Net Debt	-$200M