Filing Flows › First National (FXNC) › Q4 2024
First National (FXNC) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 31, 2025
First National (FXNC) reported revenue of $24.8M for the fourth quarter 2024 (Q4 2024), +79% from a year earlier and +66% from the quarter before. Operating margin was -7.6%, net loss $933K (3.8% of revenue).
First National, Q4 2024: revenue $24.8M (+79% year over year), operating margin -7.6%, net loss $933K, operating cash flow −$36.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $24.8M | +66% | +79% |
| Operating profit | −$1.9M | — | — |
| Net earnings | −$933K | — | — |
| Operating cash flow | −$36.7M | — | — |
What changed
Revenue was $24.8M in Q4 2024, up 79% year over year and up 66% from the previous quarter.
Operating costs exceeded revenue by $1.9M, an operating margin of -7.6%. Total costs grew 77% against revenue growth of 79%. The fastest-growing cost line was Noninterest expense (+141%). The quarter ended with a net loss of $933K, after a profit of $2.2M the previous quarter.
Operating cash flow was −$36.7M. Non-cash charges added back $646K of depreciation and amortization and $169K of share-based compensation. Working capital and other items used $36.6M. Capital expenditures of $1.1M exceeded it, leaving free cash flow of −$37.8M.
Questions
What was First National's revenue in the fourth quarter 2024?
First National (FXNC) reported revenue of $24.8M for the fourth quarter 2024 (Q4 2024), +79% from a year earlier and +66% from the quarter before.
Was First National profitable in the fourth quarter 2024?
Operating loss was $1.9M (-7.6% of revenue) and net loss $933K.
Source: First National 10-K on SEC EDGAR.