TFIN FY 2023 Earnings Report — Triumph Financial, Inc. Revenue & Financial Results | Market Cap Arena

Triumph Financial, Inc.TFIN

FY 2023 Earnings

Reported February 13, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$472M	—	$503M	—	-6.2%
Op. Income	$53M	—	$137M	—	-61.5%
Gross Margin	86.1%	—	95.0%	—	-8.9pp
Net Margin	8.7%	—	20.3%	—	-11.6pp
EPS (Diluted)	$1.61	—	$3.96	—	-59.3%
Free Cash Flow	$16M	—	$64M	—	-74.5%

Revenue Flow

Item	Amount
REVENUE	$472M
Cost of Revenue	$66M
GROSS PROFIT	$406M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$213M
SG&A Expenses	$220M
Other Expenses	$133M
Operating Expenses	$353M
Cost & Expenses	$419M
OPERATING INCOME	$53M
Interest Income	$422M
Interest Expense	$54M
Other Income/Expenses	$0
INCOME BEFORE TAX	$53M
Income Tax Expense	$12M
Net Income from Continuing Ops	$41M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$41M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$38M
D&A	$30M
EBIT	$53M
EBITDA	$83M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$472M
Cost of Revenue	$66M
GROSS PROFIT	$406M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$213M
SG&A Expenses	$220M
Other Expenses	$133M
Operating Expenses	$353M
Cost & Expenses	$419M
OPERATING INCOME	$53M
Interest Income	$422M
Interest Expense	$54M
Other Income/Expenses	$0
INCOME BEFORE TAX	$53M
Income Tax Expense	$12M
Net Income from Continuing Ops	$41M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$41M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$38M
D&A	$30M
EBIT	$53M
EBITDA	$83M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$41M
Depreciation & Amortization	$30M
Stock-Based Compensation	$13M
Deferred Income Tax	$7M
Other Non-Cash Items	$6M
Change in Working Capital	-$37M
OPERATING CASH FLOW	$60M
Capital Expenditure	-$44M
Acquisitions (Net)	$0
Purchases of Investments	-$72M
Sales/Maturities of Investments	$46M
Other Investing Activities	-$80M
NET CASH FROM INVESTING	-$130M
Net Debt Issuance	$225M
Common Stock Repurchased	-$82M
Common Dividends Paid	$0
Other Financing Activities	-$192M
NET CASH FROM FINANCING	-$52M
FREE CASH FLOW	$16M
Net Change in Cash	-$122M

Balance Sheet

Item	Amount
Cash & Equivalents	$287M
Short-Term Investments	$300M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$586M
PP&E (Net)	$113M
Goodwill	$234M
Intangible Assets	$46M
Long-Term Investments	$4.1B
Tax Assets	$9M
Other Non-Current Assets	$222M
TOTAL NON-CURRENT ASSETS	$4.8B
TOTAL ASSETS	$5.3B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$4.0B
TOTAL CURRENT LIABILITIES	$4.0B
Long-Term Debt	$405M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$100M
TOTAL NON-CURRENT LIABILITIES	$505M
TOTAL LIABILITIES	$4.5B
Common Stock	$290.0K
Additional Paid-In Capital	$551M
Retained Earnings	$536M
Treasury Stock	-$265M
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$864M
Minority Interest	$0
TOTAL EQUITY	$864M
TOTAL LIABILITIES & EQUITY	$5.3B
Total Debt	$405M
Net Debt	$119M