Summary - Funding Rounds

Founding Date

1906

MainSource Financial Income Statement

Annual

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

Revenue

101.3m102.8m161.4m180.9m211.9m

Revenue growth, %

2%8%63%

Cost of goods sold

8.4m10.7m15.7m

Gross profit

153.0m170.2m196.2m

Gross profit Margin, %

95%94%93%

Sales and marketing expense

3.2m3.4m3.3m

Operating expense total

105.6m118.0m132.6m

EBIT

31.7m36.8m101.1m115.9m141.6m

EBIT margin, %

31%36%63%64%67%

Pre tax profit

45.8m50.5m62.4m

Income tax expense

5.3m7.8m10.2m12.1m12.9m

Net Income

26.3m29.0m35.5m38.3m

Quarterly

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

Revenue

40.2m41.5m40.3m44.6m47.8m48.2m52.7m54.8m

Cost of goods sold

1.9m2.0m2.4m2.7m2.9m2.9m3.7m4.4m

Gross profit

38.2m39.4m38.0m41.9m44.9m45.3m49.0m50.4m

Gross profit Margin, %

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

Sales and marketing expense

903.0k948.0k654.0k1.1m780.0k765.0k980.0k673.0k

Operating expense total

25.7m26.6m26.2m34.1m28.9m29.4m36.4m35.0m

EBIT

25.3m25.3m25.9m28.0m30.8m32.3m35.4m36.8m

EBIT margin, %

63%61%64%63%65%67%67%67%

Pre tax profit

12.5m12.0m11.3m7.6m15.8m15.9m12.5m14.8m

Income tax expense

2.5m1.5m4.1m3.8m2.9m

Net Income

7.6m6.2m7.8m8.5m7.7m9.7m9.1m8.8m14.9m26.6m12.1m32.8m

MainSource Financial Balance Sheet

Annual

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

Cash

61.3m62.5m67.6m86.6m97.5m

Accounts Receivable

Inventories

PP&E

56.0m60.5m63.0m76.4m82.4m

Goodwill

64.9m73.5m76.0m101.3m137.1m

Total Assets

2.9b3.1b3.4b4.1b4.6b

Accounts Payable

2.2b2.7b3.1b3.5b

Short-term debt

46.4m41.2m41.2m41.2m56.5m

Long-term debt

Total Debt

46.4m41.2m41.2m56.5m

Total Liabilities

2.6b3.0b3.6b4.1b

Additional Paid-in Capital

224.8m246.6m247.6m299.1m347.2m

Retained Earnings

77.6m97.9m121.7m145.7m178.0m

Total Equity

305.5m360.7m381.4m449.5m533.0m

Debt to Equity Ratio

0.1 x0.1 x

Debt to Assets Ratio

0 x0 x

Financial Leverage

9.4 x8.7 x8.9 x9.1 x8.7 x

MainSource Financial Cash Flow

Annual

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

Net Income

26.3m29.0m35.5m38.3m49.4m

Depreciation and Amortization

5.8m5.9m6.4m7.3m8.2m

Accounts Receivable

Inventories

Accounts Payable

Cash From Operating Activities

60.1m43.4m53.4m47.3m65.9m

Purchases of PP&E

(234.0m)(61.8m)(345.8m)(242.7m)(216.3m)

Cash From Investing Activities

(179.2m)(18.0m)

Long-term Borrowings

(560.4m)(874.7m)(647.3m)(452.0m)(168.7m)

Cash From Financing Activities

123.2m150.9m(37.0m)

Interest Paid

10.4m8.8m8.4m10.4m16.4m

Income Taxes Paid

2.4m4.7m5.0m5.4m8.7m

Quarterly

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

Net Income

18.9m6.2m14.0m22.4m7.7m17.3m26.4m8.8m14.9m26.6m12.1m32.8m

Depreciation and Amortization

4.3m1.4m2.9m4.4m1.6m3.1m4.7m1.7m3.5m5.4m931.0k4.0m6.1m

Cash From Operating Activities

49.3m14.6m21.1m35.0m43.7m9.7m9.3m31.4m23.4m35.9m50.6m

Purchases of PP&E

(203.1m)(9.1m)(19.5m)(35.2m)(67.0m)(107.2m)(284.8m)(35.9m)(143.3m)(186.2m)(47.4m)(138.2m)(176.9m)

Cash From Investing Activities

(94.0m)(15.4m)(56.4m)(95.1m)18.7m22.2m(1.3m)

Long-term Borrowings

(326.0m)(333.4m)(588.4m)(722.5m)(143.9m)(417.3m)(546.4m)(243.9m)(427.0m)(442.0m)(19.9m)(60.7m)(114.7m)

Cash From Financing Activities

(3.9m)(29.9m)(2.1m)10.1m68.0m76.4m(51.2m)(61.9m)(65.6m)

Interest Paid

8.0m2.3m4.5m6.7m2.3m4.2m6.2m2.4m4.9m8.3m3.2m7.0m11.5m

Income Taxes Paid

300.0k2.3m2.4m300.0k2.3m3.3m851.0k2.7m3.0m851.0k5.8m7.3m
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MainSource Financial Operating Metrics

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