Filing Flows › First National (FXNC) › Q1 2025
First National (FXNC) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 14, 2025
First National (FXNC) reported revenue of $21.1M for the first quarter 2025 (Q1 2025), +41% from a year earlier and -15% from the quarter before. Operating margin was 9.0%, net earnings $1.6M (7.6% of revenue).
First National, Q1 2025: revenue $21.1M (+41% year over year), operating margin 9.0%, net earnings $1.6M, operating cash flow $3.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $21.1M | -15% | +41% |
| Operating profit | $1.9M | — | -53% |
| Net earnings | $1.6M | — | -50% |
| Operating cash flow | $3.5M | — | -25% |
| Free cash flow | $3.0M | — | -31% |
What changed
Revenue was $21.1M in Q1 2025, up 41% year over year and down 15% from the previous quarter.
Operating profit was $1.9M, a 9.0% margin (down 17.9 points year over year). Operating profit fell $2.1M even though revenue rose $6.2M versus a year earlier, so costs grew faster than sales. Total costs grew 76% against revenue growth of 41%. The fastest-growing cost line was Noninterest expense (+85%). Net earnings were $1.6M, down 50% year over year. The effective tax rate was 15.7%.
Operating cash flow was $3.5M (down 25% year over year), 221% of net earnings. Non-cash charges added back $665K of depreciation and amortization and $265K of share-based compensation. Working capital and other items added $1.0M. Capital expenditures of $483K left free cash flow of $3.0M.
Questions
What was First National's revenue in the first quarter 2025?
First National (FXNC) reported revenue of $21.1M for the first quarter 2025 (Q1 2025), +41% from a year earlier and -15% from the quarter before.
Was First National profitable in the first quarter 2025?
Operating profit was $1.9M (9.0% of revenue) and net earnings $1.6M.
Source: First National 10-Q on SEC EDGAR.