VABK FY 2020 Earnings Report — Virginia National Bankshares Corporation Revenue & Financial Results | Market Cap Arena

Virginia National Bankshares CorporationVABK

FY 2020 Earnings

Reported March 19, 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	$34M	—	$32M	—	7.1%
Op. Income	$10M	—	$8M	—	22.2%
Gross Margin	85.3%	—	82.1%	—	3.2pp
Net Margin	23.6%	—	21.2%	—	2.4pp
EPS (Diluted)	$2.95	—	$2.49	—	18.5%
Free Cash Flow	$9M	—	$9M	—	-1.1%

Revenue Flow

Item	Amount
REVENUE	$34M
Cost of Revenue	$5M
GROSS PROFIT	$29M
R&D Expenses	$0
Selling & Marketing	$409.0K
General & Administrative	$10M
SG&A Expenses	$10M
Other Expenses	$9M
Operating Expenses	$19M
Cost & Expenses	$24M
OPERATING INCOME	$10M
Interest Income	$27M
Interest Expense	$3M
Other Income/Expenses	$0
INCOME BEFORE TAX	$10M
Income Tax Expense	$2M
Net Income from Continuing Ops	$8M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$8M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$8M
D&A	$2M
EBIT	$10M
EBITDA	$12M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$34M
Cost of Revenue	$5M
GROSS PROFIT	$29M
R&D Expenses	$0
Selling & Marketing	$409.0K
General & Administrative	$10M
SG&A Expenses	$10M
Other Expenses	$9M
Operating Expenses	$19M
Cost & Expenses	$24M
OPERATING INCOME	$10M
Interest Income	$27M
Interest Expense	$3M
Other Income/Expenses	$0
INCOME BEFORE TAX	$10M
Income Tax Expense	$2M
Net Income from Continuing Ops	$8M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$8M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$8M
D&A	$2M
EBIT	$10M
EBITDA	$12M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$8M
Depreciation & Amortization	$2M
Stock-Based Compensation	$264.0K
Deferred Income Tax	-$214.0K
Other Non-Cash Items	$1M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$9M
Capital Expenditure	-$199.0K
Acquisitions (Net)	-$50.0K
Purchases of Investments	-$167M
Sales/Maturities of Investments	$109M
Other Investing Activities	-$72M
NET CASH FROM INVESTING	-$130M
Net Debt Issuance	$30M
Common Stock Repurchased	$0
Common Dividends Paid	-$3M
Other Financing Activities	$110M
NET CASH FROM FINANCING	$136M
FREE CASH FLOW	$9M
Net Change in Cash	$16M

Balance Sheet

Item	Amount
Cash & Equivalents	$8M
Short-Term Investments	$174M
Net Receivables	$6M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$189M
PP&E (Net)	$9M
Goodwill	$372.0K
Intangible Assets	$341.0K
Long-Term Investments	$604M
Tax Assets	$0
Other Non-Current Assets	$46M
TOTAL NON-CURRENT ASSETS	$660M
TOTAL ASSETS	$848M
Account Payables	$1M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$731M
TOTAL CURRENT LIABILITIES	$732M
Long-Term Debt	$30M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$34M
TOTAL LIABILITIES	$766M
Common Stock	$7M
Additional Paid-In Capital	$32M
Retained Earnings	$42M
Treasury Stock	$0
Accum. Other Comp. Income	$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$83M
Minority Interest	$0
TOTAL EQUITY	$83M
TOTAL LIABILITIES & EQUITY	$848M
Total Debt	$34M
Net Debt	$25M