First United Corporation (FUNC) Income Statement
FUNC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFUNC revenue and net income
Where FUNC's revenue goes
2025Each bar shows an amount and its share of revenue. FUNC kept 20.6% of revenue as net income.
FUNC profit margins
FUNC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +6.6% | +14.0% | +9.2% | +7.2% |
| Gross profit | +8.9% | +3.1% | +6.2% | +5.5% |
| Operating income | +19.5% | −0.7% | +12.8% | +5.3% |
| Net income | +19.2% | −0.7% | +12.1% | +6.6% |
| EPS (diluted) | +24.0% | +1.9% | +14.3% | +8.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FUNC quarterly EPS vs estimates
First United beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 19, 2026 (estimate $1.16).
FUNC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $119.2M | $111.8M | $95.6M | $80.4M | $78.6M | $76.9M | $74.7M | $67.5M | $61.3M | $60.5M |
| Cost of revenue | $35.5M | $34.9M | $25.9M | $4.2M | $4.9M | $15.1M | $12.8M | $10.2M | $9.9M | $11.3M |
| Gross profit | $83.7M | $76.9M | $69.7M | $76.3M | $73.7M | $61.9M | $61.9M | $57.3M | $51.4M | $49.2M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $35.1M | $30.8M | $30.4M | $26.4M | $26.5M | $23.1M | $25.5M | $25.3M | $23.4M | $22.1M |
| Total operating expenses | $51.2M | $49.6M | $50.3M | $43.1M | $47.4M | $44.1M | $45.4M | $43.9M | $39.2M | $39.1M |
| Operating income | $32.5M | $27.2M | $19.5M | $33.2M | $26.3M | $17.8M | $16.5M | $13.4M | $12.2M | $10.1M |
| Interest income | $100.8M | $92.0M | $76.3M | $62.4M | $58.3M | $58.2M | $57.9M | $52.3M | $46.9M | $45.9M |
| Interest expense | $32.7M | $32.0M | $24.3M | $4.8M | $5.7M | $9.7M | $11.5M | $8.1M | $7.4M | $8.2M |
| Income before taxes | $32.5M | $27.2M | $19.5M | $33.2M | $26.3M | $17.8M | $16.5M | $13.4M | $12.2M | $10.1M |
| Income taxes | $8.0M | $6.7M | $4.4M | $8.1M | $6.5M | $3.9M | $3.3M | $2.8M | $6.9M | $2.8M |
| Net income | $24.5M | $20.6M | $15.1M | $25.0M | $19.8M | $13.8M | $13.1M | $10.7M | $5.3M | $7.3M |
| EBITDA | $35.6M | $31.0M | $24.4M | $36.8M | $29.7M | $21.3M | $19.9M | $15.9M | $14.1M | $11.8M |
| EPS (diluted) | $3.98 | $3.21 | $2.80 | $3.76 | $3.49 | $2.04 | $1.85 | $1.51 | $0.65 | $0.87 |
| Gross margin | 70.2% | 68.8% | 73.0% | 94.8% | 93.8% | 80.4% | 82.8% | 84.9% | 83.8% | 81.3% |
| Operating margin | 27.3% | 24.4% | 20.4% | 41.2% | 33.5% | 23.1% | 22.0% | 19.9% | 19.9% | 16.6% |
| Net margin | 20.6% | 18.4% | 15.8% | 31.1% | 25.1% | 18.0% | 17.6% | 15.8% | 8.6% | 12.0% |
| 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 | $31.5M | $30.9M | $29.5M | $31.1M | $30.0M | $29.0M | $28.8M | $28.3M | $27.9M | $26.8M | $22.8M | $26.0M |
| Cost of revenue | $8.4M | $8.5M | $8.9M | $8.8M | $9.0M | $8.7M | $8.6M | $8.3M | $9.1M | $9.0M | $8.4M | $7.4M |
| Gross profit | $23.1M | $22.4M | $20.6M | $22.2M | $20.9M | $20.3M | $20.2M | $20.0M | $18.9M | $17.7M | $14.4M | $18.6M |
| Sales, general & admin | $9.6M | $9.6M | $8.7M | $8.0M | $7.9M | $8.0M | $7.9M | $7.6M | $7.8M | $7.7M | $8.1M | $7.4M |
| Total operating expenses | $15.7M | $13.6M | $13.0M | $13.0M | $13.0M | $12.6M | $12.1M | $12.3M | $12.4M | $12.9M | $12.3M | $12.8M |
| Operating income | $7.4M | $8.8M | $7.6M | $9.2M | $8.0M | $7.7M | $8.1M | $7.7M | $6.5M | $4.9M | $2.1M | $5.8M |
| Interest income | $26.2M | $25.7M | $26.2M | $25.8M | $24.9M | $24.1M | $23.7M | $23.3M | $23.1M | $21.9M | $22.2M | $21.2M |
| Interest expense | $7.6M | $7.6M | $8.2M | $8.4M | $8.2M | $8.0M | $8.0M | $8.0M | $7.9M | $8.1M | $8.0M | $7.2M |
| Income before taxes | $7.4M | $8.8M | $7.6M | $9.2M | $8.0M | $7.7M | $8.1M | $7.7M | $6.5M | $4.9M | $2.1M | $5.8M |
| Income taxes | $1.7M | $2.2M | $1.9M | $2.3M | $2.0M | $1.9M | $2.0M | $1.9M | $1.6M | $1.2M | $317,000 | $1.3M |
| Net income | $5.7M | $6.7M | $5.8M | $6.9M | $6.0M | $5.8M | $6.2M | $5.8M | $4.9M | $3.7M | $1.8M | $4.5M |
| EBITDA | $8.2M | $9.6M | $8.3M | $10.0M | $8.8M | $8.5M | $8.9M | $8.5M | $7.4M | $6.3M | $4.0M | $6.8M |
| EPS (diluted) | $1.13 | $1.02 | $1.10 | $1.07 | $0.92 | $0.89 | $0.95 | $0.89 | $0.75 | $0.62 | $0.82 | $0.67 |
| Gross margin | 73.4% | 72.5% | 69.9% | 71.6% | 69.9% | 70.0% | 70.3% | 70.7% | 67.5% | 66.3% | 63.1% | 71.6% |
| Operating margin | 23.5% | 28.6% | 25.9% | 29.8% | 26.6% | 26.6% | 28.3% | 27.2% | 23.3% | 18.2% | 9.1% | 22.4% |
| Net margin | 18.0% | 21.5% | 19.6% | 22.4% | 20.0% | 20.0% | 21.5% | 20.4% | 17.6% | 13.8% | 7.7% | 17.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FUNC's financial statements (latest annual report filed March 10, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FUNC financial results
In fiscal year 2025 (ended December 31, 2025), First United reported revenue of $119.2 million, up 6.6% from the year before. It had net income of $24.5 million (up 19.2%), a net profit margin of 20.6%. Diluted earnings per share came to $3.98. Over five years revenue grew at an average rate of 9.2% a year.
See the FUNC stock overview for the latest quote and news, or the FUNC chart for price history and technical indicators.
FUNC income statement FAQ
What is First United's annual revenue?
First United reported total revenue of $119.2 million for fiscal year 2025, which ended on December 31, 2025. That was up 6.6% from $111.8 million the previous year.
Is First United profitable?
Yes. First United reported net income of $24.5 million in fiscal 2025, a net profit margin of 20.6%; its operating margin was 27.3%.
What is First United's gross margin?
First United's gross margin was 70.2% in fiscal 2025: for every $100 of revenue, First United kept $70 after the direct cost of its products and services.
How fast is First United growing?
Revenue grew 9.2% a year on average over the last five fiscal years, from $76.9 million to $119.2 million.
What are First United's earnings per share?
First United earned $3.98 per diluted share in fiscal 2025, compared with $3.21 a year earlier.
When will First United report its next earnings?
First United is expected to report results for the quarter ending September 30, 2026 on October 19, 2026.
When does First United's fiscal year end?
First United's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 10, 2026.