WTBA FY 2021 Earnings Report — West Bancorporation, Inc. Revenue & Financial Results | Market Cap Arena

West Bancorporation, Inc.WTBA

FY 2021 Earnings

Reported February 24, 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	$116M	—	$109M	—	6.4%
Op. Income	$63M	—	$41M	—	52.0%
Gross Margin	90.8%	—	73.1%	—	17.7pp
Net Margin	42.6%	—	29.9%	—	12.7pp
EPS (Diluted)	$2.95	—	$1.98	—	49.0%
Free Cash Flow	$49M	—	$40M	—	22.9%

Revenue Flow

Item	Amount
REVENUE	$116M
Cost of Revenue	$11M
GROSS PROFIT	$106M
R&D Expenses	$0
Selling & Marketing	$224.0K
General & Administrative	$26M
SG&A Expenses	$27M
Other Expenses	$16M
Operating Expenses	$43M
Cost & Expenses	$54M
OPERATING INCOME	$63M
Interest Income	$107M
Interest Expense	$12M
Other Income/Expenses	$0
INCOME BEFORE TAX	$63M
Income Tax Expense	$13M
Net Income from Continuing Ops	$50M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$50M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$50M
D&A	$4M
EBIT	$63M
EBITDA	$67M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$116M
Cost of Revenue	$11M
GROSS PROFIT	$106M
R&D Expenses	$0
Selling & Marketing	$224.0K
General & Administrative	$26M
SG&A Expenses	$27M
Other Expenses	$16M
Operating Expenses	$43M
Cost & Expenses	$54M
OPERATING INCOME	$63M
Interest Income	$107M
Interest Expense	$12M
Other Income/Expenses	$0
INCOME BEFORE TAX	$63M
Income Tax Expense	$13M
Net Income from Continuing Ops	$50M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$50M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$50M
D&A	$4M
EBIT	$63M
EBITDA	$67M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$50M
Depreciation & Amortization	$4M
Stock-Based Compensation	$3M
Deferred Income Tax	$82.0K
Other Non-Cash Items	-$2M
Change in Working Capital	$4M
OPERATING CASH FLOW	$58M
Capital Expenditure	-$9M
Acquisitions (Net)	$0
Purchases of Investments	-$481M
Sales/Maturities of Investments	$126M
Other Investing Activities	-$173M
NET CASH FROM INVESTING	-$537M
Net Debt Issuance	-$20M
Common Stock Repurchased	-$1M
Common Dividends Paid	-$16M
Other Financing Activities	$313M
NET CASH FROM FINANCING	$276M
FREE CASH FLOW	$49M
Net Change in Cash	-$204M

Balance Sheet

Item	Amount
Cash & Equivalents	$193M
Short-Term Investments	$759M
Net Receivables	$9M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$961M
PP&E (Net)	$35M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$2.4B
Tax Assets	$11M
Other Non-Current Assets	$66M
TOTAL NON-CURRENT ASSETS	$2.5B
TOTAL ASSETS	$3.5B
Account Payables	$0
Short-Term Debt	$3M
Deferred Revenue	$0
Other Current Liabilities	$3.0B
TOTAL CURRENT LIABILITIES	$3.0B
Long-Term Debt	$197M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$197M
TOTAL LIABILITIES	$3.2B
Common Stock	$3M
Additional Paid-In Capital	$30M
Retained Earnings	$238M
Treasury Stock	$0
Accum. Other Comp. Income	-$11M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$260M
Minority Interest	$0
TOTAL EQUITY	$260M
TOTAL LIABILITIES & EQUITY	$3.5B
Total Debt	$200M
Net Debt	$7M