Alerus Financial Corporation (ALRS) Income Statement
ALRS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsALRS revenue and net income
Where ALRS's revenue goes
2025Each bar shows an amount and its share of revenue. ALRS kept 5.3% of revenue as net income.
ALRS profit margins
ALRS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −3.1% | +13.4% | +6.5% | +8.9% |
| Gross profit | +7.1% | +1.8% | +0.3% | +5.2% |
| Operating income | −2.4% | −24.3% | −17.3% | −0.5% |
| Net income | −1.9% | −24.2% | −17.2% | +0.2% |
| EPS (diluted) | +102.9% | +7.9% | +2.2% | +9.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ALRS quarterly EPS vs estimates
Alerus Financial beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 28, 2026 (estimate $0.67).
ALRS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $327.9M | $338.3M | $243.3M | $224.6M | $235.8M | $239.8M | $204.6M | $188.3M | $176.4M | $172.6M |
| Cost of revenue | $107.7M | $132.7M | $79.1M | $15.8M | $2.1M | $23.2M | $26.1M | $21.1M | $11.2M | $10.1M |
| Gross profit | $220.2M | $205.6M | $164.2M | $208.8M | $233.7M | $216.6M | $178.6M | $167.2M | $165.2M | $162.5M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $101.3M | $90.6M | $79.3M | $83.9M | $96.6M | $92.3M | $77.2M | $72.9M | $70.8M | $89.5M |
| Total operating expenses | $197.6M | $182.5M | $148.3M | $156.6M | $164.7M | $158.1M | $139.7M | $134.2M | $132.7M | $141.4M |
| Operating income | $22.6M | $23.2M | $15.9M | $52.2M | $69.1M | $58.5M | $38.9M | $33.0M | $32.5M | $21.2M |
| Interest income | $279.6M | $221.6M | $156.0M | $115.6M | $92.7M | $96.1M | $93.3M | $87.7M | $75.6M | $69.9M |
| Interest expense | $107.1M | $114.5M | $77.0M | $15.8M | $5.6M | $12.3M | $18.7M | $12.5M | $8.0M | $7.0M |
| Income before taxes | $22.6M | $23.2M | $15.9M | $52.2M | $69.1M | $58.5M | $38.9M | $33.0M | $32.5M | $21.2M |
| Income taxes | $5.2M | $5.4M | $4.2M | $12.2M | $16.4M | $13.8M | $9.4M | $7.2M | $17.5M | $7.1M |
| Net income | $17.4M | $17.8M | $11.7M | $40.0M | $52.7M | $44.7M | $29.5M | $25.9M | $15.0M | $14.0M |
| EBITDA | $39.9M | $38.0M | $24.4M | $60.4M | $77.9M | $67.4M | $47.7M | $41.8M | $42.4M | $32.6M |
| EPS (diluted) | $2.80 | $1.38 | $1.56 | $2.23 | $2.98 | $2.51 | $1.75 | $1.84 | $1.10 | $1.00 |
| Gross margin | 67.2% | 60.8% | 67.5% | 93.0% | 99.1% | 90.3% | 87.3% | 88.8% | 93.6% | 94.2% |
| Operating margin | 6.9% | 6.8% | 6.5% | 23.2% | 29.3% | 24.4% | 19.0% | 17.5% | 18.4% | 12.3% |
| Net margin | 5.3% | 5.3% | 4.8% | 17.8% | 22.3% | 18.6% | 14.4% | 13.7% | 8.5% | 8.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $103.6M | $97.8M | $32.3M | $99.0M | $101.2M | $95.3M | $96.7M | $79.9M | $79.9M | $73.9M | $45.0M | $69.8M |
| Cost of revenue | $23.4M | $17.2M | $24.9M | $27.5M | $27.4M | $27.9M | $41.0M | $31.3M | $33.5M | $26.8M | $24.6M | $21.6M |
| Gross profit | $80.2M | $80.6M | $7.4M | $71.5M | $73.9M | $67.4M | $55.7M | $48.6M | $46.4M | $47.1M | $20.3M | $48.1M |
| Sales, general & admin | $45.9M | $34.2M | $26.2M | $26.1M | $25.1M | $23.9M | $27.7M | $21.8M | $20.9M | $20.0M | $20.2M | $19.8M |
| Total operating expenses | $54.6M | $50.4M | $50.7M | $49.5M | $47.5M | $49.8M | $55.9M | $41.8M | $38.3M | $38.6M | $38.2M | $36.6M |
| Operating income | $25.6M | $30.2M | −$43.4M | $22.0M | $26.4M | $17.6M | −$292,000 | $6.8M | $8.1M | $8.5M | −$17.8M | $11.5M |
| Interest income | $70.6M | $67.0M | $70.4M | $70.6M | $70.4M | $68.2M | $67.3M | $52.2M | $53.0M | $49.0M | $44.7M | $42.0M |
| Interest expense | $22.9M | $22.1M | $25.2M | $27.5M | $27.4M | $27.0M | $29.0M | $29.7M | $29.0M | $26.8M | $23.1M | $21.6M |
| Income before taxes | $27.3M | $30.2M | −$43.4M | $22.0M | $26.4M | $17.6M | −$291,000 | $6.8M | $8.1M | $8.5M | −$17.8M | $11.5M |
| Income taxes | $6.4M | $7.3M | −$10.3M | $5.1M | $6.1M | $4.2M | −$225,000 | $1.6M | $1.9M | $2.1M | −$3.1M | $2.4M |
| Net income | $20.9M | $23.0M | −$33.1M | $16.9M | $20.3M | $13.3M | −$66,000 | $5.2M | $6.2M | $6.4M | −$14.8M | $9.2M |
| EBITDA | $28.9M | $36.0M | −$38.8M | $27.2M | $30.1M | $21.4M | $8.1M | $9.0M | $10.3M | $10.6M | −$17.4M | $11.7M |
| EPS (diluted) | $0.80 | $0.89 | $0.85 | $0.65 | $0.78 | $0.52 | $0.44 | $0.31 | $0.31 | $0.32 | $0.26 | $0.45 |
| Gross margin | 77.4% | 82.4% | 22.9% | 72.2% | 72.9% | 70.7% | 57.6% | 60.8% | 58.1% | 63.7% | 45.2% | 69.0% |
| Operating margin | 24.7% | 30.9% | −134.3% | 22.2% | 26.0% | 18.4% | −0.3% | 8.5% | 10.2% | 11.5% | −39.6% | 16.5% |
| Net margin | 20.1% | 23.5% | −102.4% | 17.1% | 20.0% | 14.0% | −0.1% | 6.5% | 7.8% | 8.7% | −32.8% | 13.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ALRS's financial statements (latest annual report filed March 4, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ALRS financial results
In fiscal year 2025 (ended December 31, 2025), Alerus Financial reported revenue of $327.9 million, down 3.1% from the year before. It had net income of $17.4 million (down 1.9%), a net profit margin of 5.3%. Diluted earnings per share came to $2.80. Over five years revenue grew at an average rate of 6.5% a year.
See the ALRS stock overview for the latest quote and news, or the ALRS chart for price history and technical indicators.
ALRS income statement FAQ
What is Alerus Financial's annual revenue?
Alerus Financial reported total revenue of $327.9 million for fiscal year 2025, which ended on December 31, 2025. That was down 3.1% from $338.3 million the previous year.
Is Alerus Financial profitable?
Yes. Alerus Financial reported net income of $17.4 million in fiscal 2025, a net profit margin of 5.3%; its operating margin was 6.9%.
What is Alerus Financial's gross margin?
Alerus Financial's gross margin was 67.2% in fiscal 2025: for every $100 of revenue, Alerus Financial kept $67 after the direct cost of its products and services.
How fast is Alerus Financial growing?
Revenue grew 6.5% a year on average over the last five fiscal years, from $239.8 million to $327.9 million.
What are Alerus Financial's earnings per share?
Alerus Financial earned $2.80 per diluted share in fiscal 2025, compared with $1.38 a year earlier.
When will Alerus Financial report its next earnings?
Alerus Financial is expected to report results for the quarter ending September 30, 2026 on October 28, 2026 after the market closes.
When does Alerus Financial's fiscal year end?
Alerus Financial's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 4, 2026.