Filing Flows › National Bank Holdings (NBHC) › Q2 2025
National Bank Holdings (NBHC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
National Bank Holdings (NBHC) reported revenue of $104M for the second quarter 2025 (Q2 2025), +7% from a year earlier and +2% from the quarter before. Operating margin was 39.8%, net earnings $34.0M (32.6% of revenue).
National Bank Holdings, Q2 2025: revenue $104M (+7% year over year), operating margin 39.8%, net earnings $34.0M, operating cash flow $32.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $104M | +2% | +7% |
| Operating profit | $41.5M | +39% | +31% |
| Net earnings | $34.0M | +40% | +30% |
| Operating cash flow | $32.3M | -18% | +1% |
| Free cash flow | $26.5M | -10% | +42% |
What changed
Revenue was $104.5M in Q2 2025, up 7% year over year and up 2% from the previous quarter.
Operating profit was $41.5M, a 39.8% margin (up 7.2 points year over year). Of the extra revenue versus a year earlier, 142% reached operating profit, above the 33% margin then. Total costs fell 4% while revenue rose 7%. Net earnings were $34.0M, up 30% year over year. The effective tax rate was 18.1%.
Operating cash flow was $32.3M (up 1% year over year), 95% of net earnings. Non-cash charges added back $5.9M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items used $9.6M. Capital expenditures of $5.8M left free cash flow of $26.5M.
Questions
What was National Bank Holdings' revenue in the second quarter 2025?
National Bank Holdings (NBHC) reported revenue of $104M for the second quarter 2025 (Q2 2025), +7% from a year earlier and +2% from the quarter before.
Was National Bank Holdings profitable in the second quarter 2025?
Operating profit was $41.5M (39.8% of revenue) and net earnings $34.0M.