VABK FY 2021 Earnings Report — Virginia National Bankshares Corporation Revenue & Financial Results | Market Cap Arena

Virginia National Bankshares CorporationVABK

FY 2021 Earnings

Reported March 25, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$59M	—	$34M	—	73.8%
Op. Income	$12M	—	$10M	—	18.7%
Gross Margin	92.7%	—	85.3%	—	7.4pp
Net Margin	17.1%	—	23.6%	—	-6.5pp
EPS (Diluted)	$2.14	—	$2.95	—	-27.5%
Free Cash Flow	$12M	—	$9M	—	30.0%

Revenue Flow

Item	Amount
REVENUE	$59M
Cost of Revenue	$4M
GROSS PROFIT	$54M
R&D Expenses	$0
Selling & Marketing	$922.0K
General & Administrative	$17M
SG&A Expenses	$18M
Other Expenses	$25M
Operating Expenses	$43M
Cost & Expenses	$47M
OPERATING INCOME	$12M
Interest Income	$48M
Interest Expense	$3M
Other Income/Expenses	$0
INCOME BEFORE TAX	$12M
Income Tax Expense	$2M
Net Income from Continuing Ops	$10M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$10M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$10M
D&A	$4M
EBIT	$12M
EBITDA	$16M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$59M
Cost of Revenue	$4M
GROSS PROFIT	$54M
R&D Expenses	$0
Selling & Marketing	$922.0K
General & Administrative	$17M
SG&A Expenses	$18M
Other Expenses	$25M
Operating Expenses	$43M
Cost & Expenses	$47M
OPERATING INCOME	$12M
Interest Income	$48M
Interest Expense	$3M
Other Income/Expenses	$0
INCOME BEFORE TAX	$12M
Income Tax Expense	$2M
Net Income from Continuing Ops	$10M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$10M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$10M
D&A	$4M
EBIT	$12M
EBITDA	$16M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$10M
Depreciation & Amortization	$4M
Stock-Based Compensation	$521.0K
Deferred Income Tax	$702.0K
Other Non-Cash Items	-$2M
Change in Working Capital	-$1M
OPERATING CASH FLOW	$13M
Capital Expenditure	-$1M
Acquisitions (Net)	$153M
Purchases of Investments	-$74M
Sales/Maturities of Investments	$32M
Other Investing Activities	$153M
NET CASH FROM INVESTING	$262M
Net Debt Issuance	-$43M
Common Stock Repurchased	$0
Common Dividends Paid	-$6M
Other Financing Activities	$248M
NET CASH FROM FINANCING	$199M
FREE CASH FLOW	$12M
Net Change in Cash	$474M

Balance Sheet

Item	Amount
Cash & Equivalents	$356M
Short-Term Investments	$304M
Net Receivables	$13M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$673M
PP&E (Net)	$33M
Goodwill	$8M
Intangible Assets	$9M
Long-Term Investments	$1.1B
Tax Assets	$5M
Other Non-Current Assets	$189M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$2.0B
Account Payables	$4M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$1.8B
TOTAL CURRENT LIABILITIES	$1.8B
Long-Term Debt	$3M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$10M
TOTAL LIABILITIES	$1.8B
Common Stock	$13M
Additional Paid-In Capital	$105M
Retained Earnings	$46M
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$162M
Minority Interest	$0
TOTAL EQUITY	$162M
TOTAL LIABILITIES & EQUITY	$2.0B
Total Debt	$10M
Net Debt	-$346M