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Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 21M | 13% |
| Gross Profit | 9.7M | 40.6% |
| Cost of Revenue | 11M | 3.1% |
| Operating expense | 830,000 | 2.2% |
| Net Income | 7.6M | 22.7% |
| EBITDA | 8.9M | 46.5% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 3.14B | 1.9% |
| Total Liabilities | 2.89B | 1.6% |
| Total Equity | 257M | 5% |
| Shares Outstanding | 11M | 0.1% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | 9.8M | 53% |
| Cash from investing | -44M | 57.8% |
| Cash from financing | 41M | 59.2% |
EPS
Financial Highlights for First Bancorp in Q3 '24
First Bancorp reported a revenue of 21M, which is a 13% 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 9.7M, marking a 40.6% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 11M, a -3.1% 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 830,000, showing a -2.2% 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 7.6M, showing a 22.7% 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 8.9M, showing a 46.5% 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 First Bancorp with growth in revenue, gross profit, and net income.
