Filing Flows › Choiceone Financial Services (COFS) › Q1 2025
Choiceone Financial Services (COFS) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
Choiceone Financial Services (COFS) reported revenue of $44.9M for the first quarter 2025 (Q1 2025), +38% from a year earlier and +25% from the quarter before. Operating margin was -39.2%, net loss $13.9M (31.0% of revenue).
Choiceone Financial Services, Q1 2025: revenue $44.9M (+38% year over year), operating margin -39.2%, net loss $13.9M, operating cash flow −$6.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $44.9M | +25% | +38% |
| Operating profit | −$17.6M | -300% | — |
| Net earnings | −$13.9M | -294% | — |
| Operating cash flow | −$6.5M | -128% | — |
What changed
Revenue was $44.9M in Q1 2025, up 38% year over year and up 25% from the previous quarter.
Operating costs exceeded revenue by $17.6M, an operating margin of -39.2%. Total costs grew 144% against revenue growth of 38%. The fastest-growing cost line was Other operating costs (+144%). The quarter ended with a net loss of $13.9M, after a profit of $7.2M the previous quarter.
Operating cash flow was −$6.5M. Non-cash charges added back $1.3M of depreciation and amortization and $190K of share-based compensation. Working capital and other items added $5.9M. Capital expenditures of $835K exceeded it, leaving free cash flow of −$7.3M.
Questions
What was Choiceone Financial Services' revenue in the first quarter 2025?
Choiceone Financial Services (COFS) reported revenue of $44.9M for the first quarter 2025 (Q1 2025), +38% from a year earlier and +25% from the quarter before.
Was Choiceone Financial Services profitable in the first quarter 2025?
Operating loss was $17.6M (-39.2% of revenue) and net loss $13.9M.