Investor Presentaiton
12
Diversified Revenue Streams
Revenue Breakout By Major Category*
Card
Revenue
27%
Summary Income Statement
Interchange and MasterCard incentive income based
on card activity and out-of-network ATM fees
(dollars in thousands)
Interchange & card revenue
Deposit Servicing
Fees
53%
Fee charged to partner bank(s) based on average
balances of serviced deposits
Account Fees
11%
Monthly account fees, wire fees, and card
replacement fees
University Fees
7%
Subscription and transactional fees charged to colleges.
based on enrollment size, competitive marketplace and
disbursement channels, and options
Servicing fees
Account fees
University fees
Other revenue
Total GAAP Operating Revenue
GAAP Operating Expense
Less: merger expense
Less: non-cash equity compensation
Less: depreciation and amortization
Total Core Operating Expense
Core EBITDA
Core EBITDA Margin
Other Fees
2%
Various other fees
* % of 2022 Revenues
1) Note: Core EBITDA, Core EBITDA Margin and Core OpEx are non-GAAP measures.
1
Twelve Months
Q4
2022
03
2022
Q2
2022
Q1
04
2022
2021
$ 5,035
$ 5,325
$ 5,315
$ 6,643
$ 6,548
Ended Dec 31,
2022
2021
$22,318 $28,078
YoY Change
$
$(5,760)
%
(21)%
6,931
10,163
13,295
14,192
13,331
44,581 45,105
(524)
(1)%
2,120
2,110
2,207
2,555
2,695
8,992
10,543
(1,551)
(15)%
1,328
1,357
1,446
1,603
1,564
5,734
5,693
41
1 %
270
903
745
$15,684
$19,858
$23,008
54
$25,047
1,121
1,972
5,286
$25,259 $83,597 $94,705
(3,314)
$(11,108)
(63)%
(12)%
$23,254 $24,138 $23,377
(2,641) (2,743)
(3,004) (2,995)
$17,609 $18,400
(1)
(3,053)
(3,030)
$17,293
$22,084 $24,354
(289) (65)
(2,919) (3,386)
(3,073) (3,105)
$15,803 $17,798
$92,853
(290)
$89,039
$3,814
4 %
(65)
(225)
346 %
(11,356) (11,343)
(12,102) (11,959)
$69,105 $65,672 $ 3,433
(13)
%
(143)
1 %
5%
$(1,925) $1,458
(12)%
$ 5,715
7%
$ 9,244
25 % 37 %
$ 7,461 $14,492 $29,033 S(14,541)
(50)%
30 %
17 %
31 %
(13)%
(43)%
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