MBIA Inc. (MBI) Income Statement
MBI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMBI revenue and net income
Where MBI's revenue goes
2025Each bar shows an amount and its share of revenue. MBI kept −221.2% of revenue as net income.
MBI profit margins
MBI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +90.5% | −19.6% | −22.3% | −21.1% |
| Gross profit | — | −51.9% | −42.4% | −33.2% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | −1.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MBI quarterly EPS vs estimates
MBIA beat the analyst EPS estimate in 1 of the last 8 quarters. Next report: November 4, 2026 (estimate $-0.03).
MBI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $80.0M | $42.0M | $7.0M | $154.0M | $159.0M | $282.0M | $281.0M | $159.0M | $405.0M | $289.0M |
| Cost of revenue | $68.0M | $188.0M | $182.0M | $46.0M | $97.0M | $92.0M | $101.0M | $82.0M | $116.0M | $260.0M |
| Gross profit | $12.0M | −$146.0M | −$175.0M | $108.0M | $62.0M | $190.0M | $180.0M | $77.0M | $289.0M | $29.0M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | — | — | — | — | — | $92.0M | $101.0M | $82.0M | $116.0M | $151.0M |
| Total operating expenses | $193.0M | $295.0M | $309.0M | $256.0M | −$604.0M | −$860.0M | −$638.0M | −$162.0M | −$678.0M | $368.0M |
| Operating income | −$181.0M | −$441.0M | −$484.0M | −$148.0M | −$445.0M | −$578.0M | −$357.0M | −$3.0M | −$389.0M | −$339.0M |
| Interest income | $197.0M | $209.0M | $211.0M | $180.0M | $181.0M | $228.0M | $283.0M | $293.0M | $272.0M | $222.0M |
| Interest expense | $197.0M | $209.0M | $211.0M | $180.0M | $181.0M | $228.0M | $283.0M | $293.0M | $272.0M | $222.0M |
| Income before taxes | −$181.0M | −$441.0M | −$484.0M | −$148.0M | −$445.0M | −$578.0M | −$357.0M | −$296.0M | −$661.0M | −$339.0M |
| Income taxes | −$4.0M | $6.0M | $7.0M | $1.0M | −$785.0M | −$849.0M | $2.0M | $93.0M | $944.0M | −$1.0M |
| Net income | −$177.0M | −$444.0M | −$487.0M | −$203.0M | −$445.0M | −$578.0M | −$359.0M | −$296.0M | −$1.60B | −$338.0M |
| EBITDA | $16.0M | −$232.0M | −$273.0M | $32.0M | −$445.0M | −$578.0M | −$357.0M | −$3.0M | −$389.0M | −$117.0M |
| EPS (diluted) | $0.46 | −$5.07 | −$3.56 | −$3.51 | −$5.27 | −$2.88 | −$0.24 | −$0.42 | −$3.68 | $0.23 |
| Gross margin | 15.0% | −347.6% | −2,500.0% | 70.1% | 39.0% | 67.4% | 64.1% | 48.4% | 71.4% | 10.0% |
| Operating margin | −226.3% | −1,050.0% | −6,914.3% | −96.1% | −279.9% | −205.0% | −127.0% | −1.9% | −96.0% | −117.3% |
| Net margin | −221.2% | −1,057.1% | −6,957.1% | −131.8% | −279.9% | −205.0% | −127.8% | −186.2% | −396.3% | −117.0% |
| 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 | $27.0M | $24.0M | $28.0M | $15.0M | $23.0M | $14.0M | $37.0M | $29.0M | $0 | $13.0M | $0 | $8.0M |
| Cost of revenue | $19.0M | −$3.0M | $99.0M | −$49.0M | $9.0M | $9.0M | $14.0M | $12.0M | $143.0M | $19.0M | $21.0M | $124.0M |
| Gross profit | $8.0M | $27.0M | −$71.0M | $64.0M | $14.0M | $5.0M | $23.0M | $17.0M | −$180.0M | −$6.0M | −$52.0M | −$116.0M |
| Total operating expenses | $51.0M | $68.0M | −$15.0M | $71.0M | $70.0M | $67.0M | $73.0M | $68.0M | $73.0M | $81.0M | $86.0M | $69.0M |
| Operating income | −$43.0M | −$41.0M | −$56.0M | −$7.0M | −$56.0M | −$62.0M | −$50.0M | −$51.0M | −$253.0M | −$87.0M | −$138.0M | −$185.0M |
| Interest income | — | — | $42.0M | $52.0M | $52.0M | $51.0M | $50.0M | $53.0M | — | — | — | $53.0M |
| Interest expense | $49.0M | $47.0M | $149.0M | $50.0M | $49.0M | $50.0M | $50.0M | $53.0M | $53.0M | $52.0M | $54.0M | $53.0M |
| Income before taxes | −$43.0M | −$41.0M | −$56.0M | −$7.0M | −$56.0M | −$62.0M | −$50.0M | −$51.0M | −$253.0M | −$87.0M | −$138.0M | −$185.0M |
| Income taxes | $3.0M | −$1.0M | −$4.0M | $1.0M | — | — | — | $5.0M | $1.0M | −$1.0M | −$138.0M | −$344.0M |
| Net income | −$46.0M | −$40.0M | −$51.0M | −$8.0M | −$56.0M | −$62.0M | −$48.0M | −$56.0M | −$255.0M | −$86.0M | −$134.0M | −$185.0M |
| EBITDA | $6.0M | $6.0M | −$8.0M | $43.0M | −$7.0M | −$12.0M | −$50.0M | $2.0M | −$200.0M | −$35.0M | −$84.0M | −$132.0M |
| EPS (diluted) | −$0.14 | −$0.16 | −$0.24 | $1.03 | −$0.17 | −$0.16 | −$0.47 | −$1.18 | −$2.90 | −$0.52 | −$0.16 | −$2.92 |
| Gross margin | 29.6% | 112.5% | −253.6% | 426.7% | 60.9% | 35.7% | 62.2% | 58.6% | — | −46.2% | — | −1,450.0% |
| Operating margin | −159.3% | −170.8% | −200.0% | −46.7% | −243.5% | −442.9% | −135.1% | −175.9% | — | −669.2% | — | −2,312.5% |
| Net margin | −170.4% | −166.7% | −182.1% | −53.3% | −243.5% | −442.9% | −129.7% | −193.1% | — | −661.5% | — | −2,312.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MBI's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MBI financial results
In fiscal year 2025 (ended December 31, 2025), MBIA reported revenue of $80.0 million, up 90.5% from the year before. It had a net loss of $177.0 million, a net profit margin of −221.2%. Diluted earnings per share came to $0.46. Over five years revenue grew at an average rate of −22.3% a year.
See the MBI stock overview for the latest quote and news, or the MBI chart for price history and technical indicators.
MBI income statement FAQ
What is MBIA's annual revenue?
MBIA reported total revenue of $80.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 90.5% from $42.0 million the previous year.
Is MBIA profitable?
No. MBIA reported a net loss of $177.0 million in fiscal 2025, a net profit margin of −221.2%; its operating margin was −226.3%.
What is MBIA's gross margin?
MBIA's gross margin was 15.0% in fiscal 2025: for every $100 of revenue, MBIA kept $15 after the direct cost of its products and services.
How fast is MBIA growing?
Revenue grew −22.3% a year on average over the last five fiscal years, from $282.0 million to $80.0 million.
What are MBIA's earnings per share?
MBIA earned $0.46 per diluted share in fiscal 2025, compared with $-5.07 a year earlier.
When will MBIA report its next earnings?
MBIA is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does MBIA's fiscal year end?
MBIA's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.