Summary - Funding Rounds

Founding Date

1980
CoBiz Financial is a subsidiary of BOK Financial

CoBiz Financial Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

106.1m114.3m151.9m161.9m177.2m

Revenue growth, %

8%6%5%

Cost of goods sold

9.6m11.7m12.6m

Gross profit

142.3m150.2m164.6m

Gross profit Margin, %

94%93%93%

Operating expense total

100.2m105.2m107.9m

Depreciation and amortization

600.0k600.0k600.0k

EBIT

40.8m44.2m105.3m118.2m127.3m

EBIT margin, %

38%39%69%73%72%

Pre tax profit

35.7m47.1m53.4m

Income tax expense

9.6m12.2m20.5m

Net Income

27.6m29.0m26.1m34.9m32.9m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Revenue

34.7m32.7m37.5m38.9m37.3m38.0m37.6m38.9m39.3m41.6m41.4m43.7m45.9m46.7m47.4m

Cost of goods sold

2.6m2.1m2.2m2.1m2.0m2.0m2.8m3.0m3.0m2.9m3.0m3.4m3.2m3.2m4.0m

Gross profit

32.1m30.6m35.4m36.8m35.3m36.0m34.8m35.9m36.3m38.7m38.4m40.3m42.8m43.6m43.4m

Gross profit Margin, %

93%94%94%94%95%95%93%92%92%93%93%92%93%93%91%

Sales and marketing expense

17.1m16.9m16.7m17.7m18.1m16.6m17.5m18.3m18.4m

Operating expense total

23.8m24.1m23.2m25.0m25.4m24.4m24.7m25.8m26.3m26.0m27.1m26.7m26.4m28.6m30.4m

Depreciation and amortization

150.0k150.0k150.0k150.0k56.0k49.0k

EBIT

25.9m26.8m27.3m27.5m28.8m27.0m26.6m27.9m30.2m30.6m29.5m31.3m32.7m34.9m36.1m

EBIT margin, %

75%82%73%71%77%71%71%72%77%73%71%72%71%75%76%

Pre tax profit

9.9m8.3m13.1m12.2m10.7m10.6m9.3m9.7m11.7m13.8m10.7m13.0m15.3m15.3m13.9m

Income tax expense

2.8m2.8m42.0k3.2m2.3m2.4m3.2m3.5m2.1m3.5m4.1m2.3m2.5m

Net Income

7.0m5.5m8.6m7.9m7.3m7.4m7.0m7.4m8.5m10.3m8.6m9.5m11.2m13.0m11.4m

CoBiz Financial Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

76.0m91.6m67.3m96.1m80.2m

Accounts Receivable

8.8m9.6m10.4m12.2m

Inventories

556.8m512.8m510.4m539.4m

Total Assets

2.8b3.1b3.4b3.6b3.8b

Accounts Payable

2.3b2.7b3.0b3.2b

Short-term debt

Long-term debt

Total Debt

Total Liabilities

2.5b3.1b3.3b3.5b

Additional Paid-in Capital

240.7m245.0m192.8m197.8m202.1m

Retained Earnings

37.3m77.1m103.6m126.9m

Total Equity

281.1m308.8m273.5m302.3m329.3m

Financial Leverage

10 x9.9 x12.3 x12 x11.7 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q2, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q1, 2018Q2, 2018

Cash

99.7m77.1m130.6m93.7m89.2m63.4m85.1m86.1m87.5m67.7m84.9m

Inventories

582.9m547.2m526.8m500.5m493.3m495.0m477.6m455.1m572.1m582.3m646.6m

Total Assets

2.8b2.9b3.0b3.0b3.2b3.4b3.5b3.5b3.7b3.8b3.9b

Accounts Payable

2.3b2.3b2.3b2.4b2.6b2.8b2.8b2.9b3.1b3.2b3.1b

Total Liabilities

2.5b2.6b2.7b2.7b2.8b3.1b3.2b3.2b3.4b3.5b3.5b

Additional Paid-in Capital

239.5m241.9m242.6m243.6m247.8m193.9m195.2m196.3m199.0m203.1m204.3m

Retained Earnings

69.5m82.0m88.7m109.3m136.9m144.0m

Total Equity

272.9m287.5m296.1m302.7m322.6m277.8m286.1m295.8m310.2m338.6m346.1m

Financial Leverage

10.3 x9.9 x10.2 x10 x9.8 x12.1 x12.1 x11.7 x12 x11.3 x11.2 x

CoBiz Financial Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

27.6m29.0m26.1m34.9m32.9m

Depreciation and Amortization

3.7m4.1m4.4m5.3m

Accounts Receivable

(416.0k)9.6m

Inventories

Accounts Payable

Cash From Operating Activities

26.8m15.5m34.1m43.5m45.9m

Purchases of PP&E

(16.3m)(84.1m)

Cash From Investing Activities

(151.7m)(320.3m)(250.7m)(245.6m)

Dividends Paid

(1.5m)(463.0k)

Cash From Financing Activities

135.0m261.9m235.9m183.8m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q3, 2017Q1, 2018Q2, 2018

Net Income

7.0m5.5m8.6m7.9m7.3m14.7m7.0m7.4m15.9m10.3m8.6m11.2m13.0m24.4m

Depreciation and Amortization

149.0k147.0k150.0k1.6m150.0k1.2m2.4m150.0k1.5m884.0k1.4m

Accounts Receivable

9.0m9.8m(546.0k)10.8m11.1m11.0m

Cash From Operating Activities

14.6m7.2m17.5m7.8m41.8m12.2m26.9m

Purchases of PP&E

(54.4m)(25.2m)(89.5m)

Cash From Investing Activities

(108.8m)(7.8m)(84.1m)(115.0m)(228.0m)14.1m(33.2m)

Dividends Paid

(287.0k)

Cash From Financing Activities

91.9m(3.4m)84.4m98.7m169.4m(38.8m)11.0m
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CoBiz Financial Operating Metrics

FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

Non-accrual Loans

$8.99 m$6.09 m$4.08 m$4.88 m$15.72 m$8.24 m$5.99 m$5.05 m$2.64 m$3.05 m$3.83 m

Total Loans

$2.41 b$2.45 b$2.50 b$2.62 b$2.70 b$2.72 b$2.81 b$2.83 b$2.93 b$2.99 b$3.06 b
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CoBiz Financial Employee Rating

3.828 votes
Culture & Values
4.1
Work/Life Balance
4.0
Senior Management
3.3
Salary & Benefits
3.9
Career Opportunities
3.2
Source