Filing Flows › First National (FXNC) › Q1 2026
First National (FXNC) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 13, 2026
First National (FXNC) reported revenue of $22.5M for the first quarter 2026 (Q1 2026), +7% from a year earlier and -6% from the quarter before. Operating margin was 27.0%, net earnings $4.9M (21.7% of revenue).
First National, Q1 2026: revenue $22.5M (+7% year over year), operating margin 27.0%, net earnings $4.9M, operating cash flow $6.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $22.5M | -6% | +7% |
| Operating profit | $6.1M | -12% | +220% |
| Net earnings | $4.9M | -11% | +206% |
| Operating cash flow | $6.4M | -24% | +82% |
| Free cash flow | $5.9M | -15% | +94% |
What changed
Revenue was $22.5M in Q1 2026, up 7% year over year and down 6% from the previous quarter.
Operating profit was $6.1M, a 27.0% margin (up 18.0 points year over year). Of the extra revenue versus Q1 2025, 290% reached operating profit, above the 9% margin then. Total costs fell 14% while revenue rose 7%. Net earnings were $4.9M, up 206% year over year. The effective tax rate was 19.5%.
Operating cash flow was $6.4M (up 82% year over year), 131% of net earnings. Non-cash charges added back $722K of depreciation and amortization and $338K of share-based compensation. Working capital and other items added $457K. Capital expenditures of $488K left free cash flow of $5.9M.
Questions
What was First National's revenue in the first quarter 2026?
First National (FXNC) reported revenue of $22.5M for the first quarter 2026 (Q1 2026), +7% from a year earlier and -6% from the quarter before.
Was First National profitable in the first quarter 2026?
Operating profit was $6.1M (27.0% of revenue) and net earnings $4.9M.
Source: First National 10-Q on SEC EDGAR.