Live Oak Bancshares, Inc. (LOB) Income Statement
LOB 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsLOB revenue and net income
Where LOB's revenue goes
2025Each bar shows an amount and its share of revenue. LOB kept 10.0% of revenue as net income.
LOB profit margins
LOB growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +12.0% | +27.0% | +22.4% | +24.9% |
| Gross profit | +26.8% | +12.8% | +15.6% | +17.5% |
| Operating income | +80.4% | −8.5% | +27.7% | +16.7% |
| Net income | +34.0% | −16.2% | +11.8% | +17.5% |
| EPS (diluted) | +15.6% | −1.6% | +5.4% | +17.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
LOB quarterly EPS vs estimates
Live Oak Bancshares beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: October 21, 2026 (estimate $0.68).
LOB income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.04B | $929.3M | $776.6M | $508.8M | $506.4M | $378.3M | $289.5M | $253.3M | $203.2M | $144.8M |
| Cost of revenue | $538.2M | $532.7M | $394.3M | $157.9M | $79.6M | $134.3M | $103.1M | $60.2M | $35.0M | $27.2M |
| Gross profit | $503.0M | $396.6M | $382.3M | $350.9M | $426.8M | $244.0M | $186.4M | $193.2M | $168.3M | $117.6M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $253.9M | $205.3M | $204.3M | $180.6M | $137.0M | $123.5M | $109.3M | $99.6M | $88.7M | $74.2M |
| Total operating expenses | $342.0M | $307.4M | $299.4M | $140.6M | $216.0M | $196.6M | $162.9M | $147.1M | $70.0M | $100.4M |
| Operating income | $161.0M | $89.2M | $82.8M | $210.3M | $210.8M | $47.4M | $23.5M | $46.0M | $98.3M | $17.2M |
| Interest income | $908.5M | $812.4M | $688.3M | $444.5M | $361.2M | $288.4M | $228.0M | $162.6M | $103.5M | $57.3M |
| Interest expense | $460.1M | $436.5M | $343.0M | $117.0M | $64.4M | $93.7M | $87.9M | $54.6M | $25.4M | $14.6M |
| Income before taxes | $161.0M | $89.2M | $82.8M | $210.3M | $210.8M | $47.4M | $23.5M | $46.0M | $98.3M | $17.2M |
| Income taxes | $57.3M | $11.8M | $8.9M | $34.1M | $43.8M | −$12.2M | $5.4M | −$5.4M | −$2.2M | $3.4M |
| Net income | $103.8M | $77.5M | $73.9M | $176.2M | $167.0M | $59.5M | $18.0M | $51.4M | $100.5M | $13.8M |
| EBITDA | $191.4M | $112.5M | $104.1M | $231.1M | $232.2M | $69.1M | $43.4M | $62.4M | $108.5M | $21.5M |
| EPS (diluted) | $1.85 | $1.60 | $2.11 | $1.94 | $3.71 | $1.42 | $0.47 | $1.32 | $1.22 | $0.57 |
| Gross margin | 48.3% | 42.7% | 49.2% | 69.0% | 84.3% | 64.5% | 64.4% | 76.3% | 82.8% | 81.2% |
| Operating margin | 15.5% | 9.6% | 10.7% | 41.3% | 41.6% | 12.5% | 8.1% | 18.2% | 48.3% | 11.9% |
| Net margin | 10.0% | 8.3% | 9.5% | 34.6% | 33.0% | 15.7% | 6.2% | 20.3% | 49.4% | 9.5% |
| 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 | $272.5M | $259.9M | $289.4M | $258.4M | $257.1M | $236.3M | $239.9M | $238.3M | $230.5M | $220.6M | $198.1M | $216.0M |
| Cost of revenue | $142.2M | $134.6M | $120.2M | $138.2M | $138.3M | $141.5M | $148.7M | $146.4M | $118.9M | $118.7M | $106.0M | $101.5M |
| Gross profit | $130.3M | $125.4M | $169.2M | $120.2M | $118.8M | $94.8M | $91.2M | $91.8M | $111.7M | $101.9M | $92.1M | $114.6M |
| Sales, general & admin | $54.8M | $55.5M | $83.2M | $58.3M | $57.1M | $55.2M | $50.2M | $48.9M | $51.9M | $54.2M | $50.9M | $50.5M |
| Total operating expenses | $84.5M | $85.3M | $89.2M | $83.6M | $87.5M | $81.7M | $78.0M | $74.0M | $75.6M | $79.8M | $74.6M | $71.8M |
| Operating income | $45.8M | $40.1M | $80.1M | $36.6M | $31.2M | $13.1M | $13.2M | $17.8M | $36.1M | $22.1M | $17.5M | $42.8M |
| Interest income | $241.7M | $233.9M | $239.7M | $231.4M | $224.3M | $213.1M | $212.6M | $208.9M | $198.4M | $192.4M | $186.5M | $180.6M |
| Interest expense | $116.4M | $114.5M | $116.5M | $115.9M | $115.1M | $112.6M | $115.1M | $111.9M | $107.1M | $102.3M | $97.0M | $91.2M |
| Income before taxes | $45.8M | $40.1M | $80.1M | $36.6M | $31.2M | $13.1M | $13.2M | $17.8M | $36.1M | $22.1M | $17.5M | $42.8M |
| Income taxes | $9.1M | $10.1M | $36.0M | $10.1M | $7.8M | $3.5M | $3.4M | $4.8M | $9.1M | −$5.5M | $1.3M | $3.0M |
| Net income | $36.8M | $30.0M | $44.1M | $26.5M | $23.4M | $9.7M | $9.9M | $13.0M | $27.0M | $27.6M | $16.2M | $39.8M |
| EBITDA | $52.1M | $47.0M | $90.0M | $43.2M | $38.0M | $20.1M | $19.9M | $24.1M | $41.4M | $27.1M | $22.8M | $48.3M |
| EPS (diluted) | $0.74 | $0.63 | $0.47 | $0.59 | $0.53 | $0.26 | $0.27 | $0.28 | $0.59 | $0.46 | $0.66 | $0.88 |
| Gross margin | 47.8% | 48.2% | 58.5% | 46.5% | 46.2% | 40.1% | 38.0% | 38.5% | 48.4% | 46.2% | 46.5% | 53.0% |
| Operating margin | 16.8% | 15.4% | 27.7% | 14.2% | 12.1% | 5.6% | 5.5% | 7.5% | 15.6% | 10.0% | 8.8% | 19.8% |
| Net margin | 13.5% | 11.6% | 15.2% | 10.3% | 9.1% | 4.1% | 4.1% | 5.5% | 11.7% | 12.5% | 8.2% | 18.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in LOB's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
LOB financial results
In fiscal year 2025 (ended December 31, 2025), Live Oak Bancshares reported revenue of $1.0 billion, up 12.0% from the year before. It had net income of $103.8 million (up 34.0%), a net profit margin of 10.0%. Diluted earnings per share came to $1.85. Over five years revenue grew at an average rate of 22.4% a year.
See the LOB stock overview for the latest quote and news, or the LOB chart for price history and technical indicators.
LOB income statement FAQ
What is Live Oak Bancshares's annual revenue?
Live Oak Bancshares reported total revenue of $1.0 billion for fiscal year 2025, which ended on December 31, 2025. That was up 12.0% from $929.3 million the previous year.
Is Live Oak Bancshares profitable?
Yes. Live Oak Bancshares reported net income of $103.8 million in fiscal 2025, a net profit margin of 10.0%; its operating margin was 15.5%.
What is Live Oak Bancshares's gross margin?
Live Oak Bancshares's gross margin was 48.3% in fiscal 2025: for every $100 of revenue, Live Oak Bancshares kept $48 after the direct cost of its products and services.
How fast is Live Oak Bancshares growing?
Revenue grew 22.4% a year on average over the last five fiscal years, from $378.3 million to $1.0 billion.
What are Live Oak Bancshares's earnings per share?
Live Oak Bancshares earned $1.85 per diluted share in fiscal 2025, compared with $1.60 a year earlier.
When will Live Oak Bancshares report its next earnings?
Live Oak Bancshares is expected to report results for the quarter ending September 30, 2026 on October 21, 2026 after the market closes.
When does Live Oak Bancshares's fiscal year end?
Live Oak Bancshares's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.