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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 27M | 3.1% |
| Gross Profit | 17M | 4.7% |
| Cost of Revenue | 9.1M | 0.1% |
| Operating expense | 1.3M | 0.5% |
| Net Income | 12M | 2.1% |
| EBITDA | -340,000 | 13% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 1.68B | 5.2% |
| Total Liabilities | 1.49B | 6.4% |
| Total Equity | 191M | 5.8% |
| Shares Outstanding | 9.3M | 0.2% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 8.1M | 60.2% |
| Cash from investing | 109M | 1988.1% |
| Cash from financing | -101M | 644.5% |
EPS
Financial Highlights for Bank7 in Q2 '24
Bank7 reported a revenue of 27M, which is a 3.1% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 17M, marking a 4.7% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 9.1M, a 0.1% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 1.3M, showing a -0.5% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 12M, showing a 2.1% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was -340,000, showing a 13% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Bank7 with growth in revenue, gross profit, and net income.
