$338 M

HBMD Mkt cap, 11-Jul-2018

$19.1 M

Howard Bancorp Revenue Q1, 2018
Howard Bancorp Gross profit (Q1, 2018)16.9 M
Howard Bancorp Gross profit margin (Q1, 2018), %88.4%
Howard Bancorp Net income (Q1, 2018)-5.7 M
Howard Bancorp EBIT (Q1, 2018)12.1 M
Howard Bancorp Cash, 31-Mar-201877.5 M
Howard Bancorp EV532.5 M

Howard Bancorp Income Statement

Annual

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

Revenue

17.7 m23.4 m33.3 m53.5 m

Revenue growth, %

32%43%60%

Cost of goods sold

1.9 m2.4 m3.1 m4.6 m5.2 m

Gross profit

15.8 m21 m30.3 m49 m

Gross profit Margin, %

89%90%91%91%

Sales and marketing expense

23.6 m

General and administrative expense

4.2 m

Operating expense total

45.2 m

EBIT

15.8 m21 m30.3 m34.2 m37.9 m

EBIT margin, %

89%90%91%64%

Interest income

15.8 m21 m30.3 m34.2 m

Pre tax profit

2.9 m17.3 m2.1 m8.2 m10.4 m

Income tax expense

984 k6.9 m973 k2.9 m3.2 m

Net Income

2 m10.4 m1.1 m5.3 m7.2 m

Quarterly

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

Revenue

5 m5.6 m7.5 m8 m9.8 m10.9 m11.7 m12.5 m14.1 m14.2 m14.3 m16 m19.1 m

Cost of goods sold

497 k515 k568 k648 k659 k685 k808 k969 k1.2 m1.2 m1.1 m1.2 m2.2 m

Gross profit

4.5 m5.1 m6.9 m7.3 m9.1 m10.2 m10.9 m11.5 m12.9 m13 m13.2 m14.8 m16.9 m

Gross profit Margin, %

90%91%92%92%93%94%93%92%92%92%92%92%88%

Sales and marketing expense

1.9 m2.8 m2.9 m2.8 m3.9 m3.9 m4.7 m4.6 m4.9 m4.9 m5.6 m6.1 m7.6 m

General and administrative expense

406 k470 k586 k489 k975 k904 k931 k1.6 m949 k1.1 m1.1 m1 m1.6 m

Operating expense total

3.7 m4.5 m5.3 m5 m7.8 m8.4 m11.6 m9.7 m9.9 m9.9 m10.5 m11.2 m23.2 m

EBIT

4.2 m4.4 m4.8 m5.2 m6.8 m6.8 m7.7 m8.6 m8.4 m8.6 m8.8 m9.5 m12.1 m

EBIT margin, %

84%80%65%65%69%62%65%69%59%61%61%59%64%

Pre tax profit

630 k382 k1.2 m311 k1 m1.3 m(892 k)1.4 m2.6 m2.8 m2.5 m3.2 m(7.4 m)

Income tax expense

223 k116 k477 k75 k382 k471 k(106 k)474 k928 k1 m944 k1.2 m(1.7 m)

Net Income

407 k266 k737 k236 k649 k791 k(786 k)960 k1.6 m1.7 m1.6 m2 m(5.7 m)

Howard Bancorp Balance Sheet

Annual

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

Cash

35.7 m24.5 m38.3 m39.4 m29 m

Accounts Receivable

Inventories

Goodwill

603 k603 k603 k

Total Assets

499.9 m691.4 m946.8 m1 b1.1 b

Accounts Payable

808.7 m863.9 m

Short-term debt

45.7 m48.6 m69.1 m107.1 m130.4 m

Long-term debt

16 m19 m29.7 m20.5 m18.5 m

Total Debt

61.7 m67.6 m98.8 m127.6 m148.9 m

Total Liabilities

941.2 m1 b

Additional Paid-in Capital

37.6 m38.4 m70.6 m71 m110.4 m

Retained Earnings

(1.6 m)9.7 m14.8 m22.1 m

Total Equity

92.9 m85.8 m132.3 m

Debt to Equity Ratio

1.1 x1.5 x

Debt to Assets Ratio

0.1 x0.1 x0.1 x0.1 x

Financial Leverage

10.2 x12 x8.7 x

Quarterly

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

Cash

19.4 m25 m26.6 m17.7 m28.5 m29 m18.3 m55 m32.8 m43.9 m48.5 m41.8 m77.5 m

Goodwill

1.1 m603 k603 k603 k603 k603 k72 m

Total Assets

466.9 m508 m533.5 m574.4 m710.5 m746.9 m924.5 m990.4 m988.8 m1 b1 b1.1 b2.1 b

Accounts Payable

359.9 m401.3 m422.3 m451.9 m580.7 m575.7 m742.8 m803.2 m798.1 m803.8 m852 m854.7 m1.5 b

Short-term debt

39.9 m35.6 m36.6 m52 m41 m52 m52.7 m50.1 m62.1 m93.3 m55.3 m109.8 m199.4 m

Long-term debt

18 m21.5 m23.5 m19 m19.5 m27.5 m27.9 m36.2 m39.2 m26.6 m9 m6.5 m72.6 m

Total Debt

57.9 m57.1 m60.1 m71 m60.5 m79.5 m80.6 m86.3 m101.4 m119.9 m64.3 m116.3 m272 m

Total Liabilities

418.9 m459.1 m483.9 m524 m650.1 m662.3 m832.4 m896.5 m905.8 m929.9 m922.7 m975.9 m1.8 b

Additional Paid-in Capital

37.5 m37.6 m37.7 m38.2 m38.5 m61.9 m70.2 m70.7 m70.8 m70.9 m109.6 m110 m275.5 m

Retained Earnings

(2.1 m)(1.4 m)(652 k)(445 k)9.3 m10.1 m9.3 m10.6 m12.1 m13.9 m16.4 m18.5 m16.4 m

Total Equity

48.9 m84.6 m92.1 m93.9 m83.1 m84.9 m126 m128.4 m291.7 m

Financial Leverage

10.4 x8.8 x10 x10.5 x11.9 x12 x8.3 x8.6 x7.3 x

Howard Bancorp Cash Flow

Annual

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

Net Income

2 m10.4 m1.1 m5.3 m7.2 m

Depreciation and Amortization

599 k734 k1 m1.2 m1.3 m

Accounts Receivable

Inventories

Accounts Payable

Cash From Operating Activities

740 k(31.1 m)(7.4 m)2.8 m16.9 m

Cash From Investing Activities

(62.6 m)11.4 m(33.8 m)(79.2 m)(142.5 m)

Long-term Borrowings

(8 m)(9 m)(9 m)(12 m)(17 m)

Cash From Financing Activities

61.3 m8.5 m55 m77.4 m115.2 m

Quarterly

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

Net Income

1.4 m266 k1 m1.2 m649 k1.4 m655 k960 k2.6 m4.3 m1.6 m3.6 m(5.7 m)

Depreciation and Amortization

441 k174 k351 k537 k213 k446 k712 k305 k613 k927 k317 k665 k490 k

Cash From Operating Activities

2.8 m(12.3 m)(23.1 m)(30.9 m)(8.3 m)(24.5 m)(21.9 m)10.7 m1.7 m7.9 m21.2 m2.2 m(3 m)

Cash From Investing Activities

(48.2 m)(6.4 m)(18 m)(41.1 m)(7.2 m)(27.9 m)(16 m)(37.2 m)(47.8 m)(67.1 m)(30.6 m)(73.1 m)133.8 m

Long-term Borrowings

(8 m)(2 m)(2 m)(2 m)(9 m)(2.5 m)(12 m)(12 m)(11.5 m)(14 m)

Cash From Financing Activities

28.5 m7.9 m31.9 m54 m19.5 m56.8 m31.7 m43.2 m40.5 m64.7 m18.5 m73.3 m(82.2 m)

Howard Bancorp Ratios

USDY, 2018

EV/EBIT

43.8 x

EV/CFO

-175.3 x

Financial Leverage

7.3 x
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