First Internet Bancorp (INBK) Income Statement
INBK 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsINBK revenue and net income
Where INBK's revenue goes
2025Each bar shows an amount and its share of revenue. INBK kept −10.9% of revenue as net income.
INBK profit margins
INBK growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −3.2% | +22.9% | +13.5% | +20.3% |
| Gross profit | −60.5% | −26.0% | −13.2% | +1.4% |
| Operating income | −284.7% | — | — | — |
| Net income | −239.1% | — | — | — |
| EPS (diluted) | −126.2% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
INBK quarterly EPS vs estimates
First Internet Bancorp beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: October 29, 2026 (estimate $0.80).
INBK income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $322.9M | $333.4M | $259.9M | $173.7M | $162.1M | $171.2M | $163.1M | $123.3M | $94.2M | $72.1M |
| Cost of revenue | $278.7M | $221.7M | $181.2M | $64.8M | $48.4M | $81.6M | $90.4M | $57.1M | $35.6M | $23.5M |
| Gross profit | $44.2M | $111.7M | $78.6M | $108.9M | $113.7M | $89.5M | $72.6M | $66.2M | $58.6M | $48.5M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $67.2M | $6.3M | $51.8M | $46.3M | $42.7M | $37.7M | $32.1M | $28.8M | $25.9M | $21.5M |
| Total operating expenses | $95.0M | $84.2M | $73.7M | $68.8M | $57.2M | $55.6M | $45.5M | $42.2M | $35.7M | $30.6M |
| Operating income | −$50.9M | $27.5M | $4.9M | $40.1M | $56.6M | $33.9M | $27.2M | $24.0M | $22.9M | $18.0M |
| Interest income | $320.2M | $291.9M | $218.8M | $156.9M | $133.9M | $136.9M | $147.4M | $115.5M | $84.7M | $58.9M |
| Interest expense | $206.4M | $204.5M | $164.5M | $59.8M | $47.3M | $72.3M | $84.4M | $53.2M | $30.7M | $19.2M |
| Income before taxes | −$50.9M | $27.5M | $4.9M | $40.1M | $56.6M | $33.9M | $27.2M | $24.0M | $22.9M | $18.0M |
| Income taxes | −$15.7M | $2.3M | −$3.5M | $4.6M | $8.5M | $4.4M | $1.9M | $2.1M | $7.7M | $5.9M |
| Net income | −$35.2M | $25.3M | $8.4M | $35.5M | $48.1M | $29.5M | $25.2M | $21.9M | $15.2M | $12.1M |
| EBITDA | −$44.7M | $36.0M | $10.7M | $48.8M | $65.3M | $41.7M | $34.1M | $29.6M | $28.2M | $21.8M |
| EPS (diluted) | −$0.66 | $2.52 | $1.84 | $3.86 | $4.73 | $3.17 | $2.51 | $2.52 | $2.38 | $2.42 |
| Gross margin | 13.7% | 33.5% | 30.3% | 62.7% | 70.2% | 52.3% | 44.6% | 53.7% | 62.2% | 67.3% |
| Operating margin | −15.8% | 8.3% | 1.9% | 23.1% | 34.9% | 19.8% | 16.7% | 19.4% | 24.3% | 24.9% |
| Net margin | −10.9% | 7.6% | 3.2% | 20.5% | 29.7% | 17.2% | 15.5% | 17.8% | 16.2% | 16.7% |
| 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 | $85.3M | $87.3M | $89.4M | $57.9M | $84.9M | $85.7M | $92.4M | $85.5M | $80.4M | $75.1M | $72.3M | $69.1M |
| Cost of revenue | $57.6M | $60.5M | $59.7M | $88.8M | $66.5M | $63.7M | $61.5M | $56.6M | $53.7M | $49.9M | $50.1M | $47.6M |
| Gross profit | $27.7M | $26.8M | $29.7M | −$30.9M | $18.4M | $22.1M | $30.9M | $28.9M | $26.7M | $25.2M | $22.2M | $21.5M |
| Sales, general & admin | $2.1M | $1.7M | $17.0M | $16.4M | $13.1M | $15.2M | $16.2M | $15.2M | $14.2M | $13.7M | $11.0M | $13.3M |
| Total operating expenses | $26.1M | $25.0M | $24.2M | $23.6M | $20.3M | $22.0M | $22.6M | $21.3M | $20.7M | $19.6M | $18.7M | $18.4M |
| Operating income | $1.6M | $1.8M | $5.5M | −$54.5M | −$1.9M | $34,000 | $8.3M | $7.6M | $6.0M | $5.6M | $3.6M | $3.1M |
| Interest income | $76.6M | $75.8M | $78.1M | $84.4M | $80.9M | $76.8M | $77.8M | $75.0M | $71.0M | $68.2M | $66.3M | $63.0M |
| Interest expense | $44.2M | $44.2M | $47.7M | $54.0M | $52.9M | $51.7M | $54.2M | $53.2M | $49.6M | $47.4M | $46.5M | $45.6M |
| Income before taxes | $1.6M | $1.8M | $5.5M | −$54.5M | −$1.9M | $34,000 | $8.3M | $7.6M | $6.0M | $5.6M | $3.6M | $3.1M |
| Income taxes | −$780,000 | −$725,000 | $213,000 | −$12.9M | −$2.1M | −$909,000 | $999,000 | $620,000 | $218,000 | $429,000 | −$585,000 | −$326,000 |
| Net income | $2.4M | $2.5M | $5.3M | −$41.6M | $193,000 | $943,000 | $7.3M | $7.0M | $5.8M | $5.2M | $4.1M | $3.4M |
| EBITDA | $3.6M | $4.5M | $6.5M | −$52.3M | $51,000 | $1.1M | $10.8M | $9.8M | $8.0M | $7.5M | $6.3M | $3.2M |
| EPS (diluted) | $0.27 | $0.29 | $0.64 | −$1.43 | $0.02 | $0.11 | $0.41 | $0.80 | $0.72 | $0.59 | $0.48 | $0.39 |
| Gross margin | 32.5% | 30.7% | 33.2% | −53.4% | 21.7% | 25.7% | 33.5% | 33.8% | 33.2% | 33.5% | 30.8% | 31.1% |
| Operating margin | 1.9% | 2.0% | 6.2% | −94.2% | −2.2% | 0.0% | 9.0% | 8.9% | 7.5% | 7.5% | 4.9% | 4.5% |
| Net margin | 2.8% | 2.9% | 5.9% | −71.8% | 0.2% | 1.1% | 7.9% | 8.2% | 7.2% | 6.9% | 5.7% | 4.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in INBK's financial statements (latest annual report filed March 11, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
INBK financial results
In fiscal year 2025 (ended December 31, 2025), First Internet Bancorp reported revenue of $322.9 million, down 3.2% from the year before. It had a net loss of $35.2 million, a net profit margin of −10.9%. Diluted earnings per share came to −$0.66. Over five years revenue grew at an average rate of 13.5% a year.
See the INBK stock overview for the latest quote and news, or the INBK chart for price history and technical indicators.
INBK income statement FAQ
What is First Internet Bancorp's annual revenue?
First Internet Bancorp reported total revenue of $322.9 million for fiscal year 2025, which ended on December 31, 2025. That was down 3.2% from $333.4 million the previous year.
Is First Internet Bancorp profitable?
No. First Internet Bancorp reported a net loss of $35.2 million in fiscal 2025, a net profit margin of −10.9%; its operating margin was −15.8%.
What is First Internet Bancorp's gross margin?
First Internet Bancorp's gross margin was 13.7% in fiscal 2025: for every $100 of revenue, First Internet Bancorp kept $14 after the direct cost of its products and services.
How fast is First Internet Bancorp growing?
Revenue grew 13.5% a year on average over the last five fiscal years, from $171.2 million to $322.9 million.
What are First Internet Bancorp's earnings per share?
First Internet Bancorp earned $-0.66 per diluted share in fiscal 2025, compared with $2.52 a year earlier.
When will First Internet Bancorp report its next earnings?
First Internet Bancorp is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 after the market closes.
When does First Internet Bancorp's fiscal year end?
First Internet Bancorp's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 11, 2026.