Filing Flows › First National (FXNC) › Q2 2025
First National (FXNC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 13, 2025
First National (FXNC) reported revenue of $22.4M for the second quarter 2025 (Q2 2025), +58% from a year earlier and +7% from the quarter before. Operating margin was 28.2%, net earnings $5.1M (22.5% of revenue).
First National, Q2 2025: revenue $22.4M (+58% year over year), operating margin 28.2%, net earnings $5.1M, operating cash flow $4.7M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $22.4M | +7% | +58% |
| Operating profit | $6.3M | +234% | +103% |
| Net earnings | $5.1M | +216% | +107% |
| Operating cash flow | $4.7M | +33% | +29% |
| Free cash flow | $4.1M | +35% | +38% |
What changed
Revenue was $22.4M in Q2 2025, up 58% year over year and up 7% from the previous quarter.
Operating profit was $6.3M, a 28.2% margin (up 6.2 points year over year). Of the extra revenue versus a year earlier, 39% reached operating profit, above the 22% margin then. Total costs grew 46% against revenue growth of 58%. The fastest-growing cost line was Credit loss provision (+128%). Net earnings were $5.1M, up 107% year over year. The effective tax rate was 20.3%.
Operating cash flow was $4.7M (up 29% year over year), 93% of net earnings. Non-cash charges added back $675K of depreciation and amortization and $180K of share-based compensation. Working capital and other items used $1.2M. Capital expenditures of $588K left free cash flow of $4.1M.
Questions
What was First National's revenue in the second quarter 2025?
First National (FXNC) reported revenue of $22.4M for the second quarter 2025 (Q2 2025), +58% from a year earlier and +7% from the quarter before.
Was First National profitable in the second quarter 2025?
Operating profit was $6.3M (28.2% of revenue) and net earnings $5.1M.
Source: First National 10-Q on SEC EDGAR.