First Internet B Financials
This page shows First Internet B (INBK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A balance-sheet-driven earnings model is under pressure, so asset growth no longer translates into durable shareholder profit.
Revenue rose from FY2023's$239.4M to FY2025's$320.2M , but that larger revenue base did not improve the earnings engine. ROA slid from0.16% to-0.63% . Operating cash flow also shrank from$11.7M to$3.4M , which means the profit setback was matched by weaker cash generation rather than cushioned by better cash conversion.
The balance sheet did not unravel alongside the loss: cash stayed high at
Long-term debt fell from
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of First Internet B's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
First Internet B's revenue grew 9.7% year-over-year to $320.2M, a solid pace of expansion. This earns a growth score of 59/100.
First Internet B carries a low D/E ratio of 0.69, meaning only $0.69 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.
First Internet B has a free cash flow margin of 0.7%, earning a moderate score of 30/100. The company generates positive cash flow after capital investments, but with room for improvement.
First Internet B generates a -9.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 6/100. This is down from 6.6% the prior year.
First Internet B passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, First Internet B generates $-0.10 in operating cash flow ($3.4M OCF vs -$35.2M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
First Internet B generated $320.2M in revenue in fiscal year 2025. This represents an increase of 9.7% from the prior year.
First Internet B reported -$35.2M in net income in fiscal year 2025. This represents a decrease of 239.1% from the prior year.
First Internet B earned $-4.03 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 239.9% from the prior year.
Cash & Balance Sheet
First Internet B generated $2.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 78.6% from the prior year.
First Internet B held $456.8M in cash against $249.5M in long-term debt as of fiscal year 2025.
First Internet B paid $0.24 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Margins & Returns
First Internet B's net profit margin was -11.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 19.6 percentage points from the prior year.
First Internet B's ROE was -9.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 16.4 percentage points from the prior year.
Capital Allocation
First Internet B spent $521K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 84.1% from the prior year.
First Internet B invested $1.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 52.6% from the prior year.
INBK Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $75.8M-2.9% | $78.1M-7.5% | $84.4M+4.3% | $80.9M+5.3% | $76.8M-1.2% | $77.8M+3.7% | $75.0M+5.7% | $71.0M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $13.2M+4.5% | $12.7M-11.9% | $14.4M+32.4% | $10.9M-17.1% | $13.1M-6.7% | $14.0M+4.4% | $13.5M+8.0% | $12.5M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $44.2M-7.4% | $47.7M-11.7% | $54.0M+2.2% | $52.9M+2.2% | $51.7M-4.6% | $54.2M+1.9% | $53.2M+7.2% | $49.6M |
| Income Tax | -$725K-442.0% | $212K+101.6% | -$12.9M-530.5% | -$2.1M-126.0% | -$909K-191.0% | $999K+61.1% | $620K+184.4% | $218K |
| Net Income | $2.5M-52.6% | $5.3M+112.7% | -$41.6M-21650.8% | $193K-79.5% | $943K-87.1% | $7.3M+4.9% | $7.0M+21.0% | $5.8M |
| EPS (Diluted) | $0.29 | N/A | $-4.76-23900.0% | $0.02-81.8% | $0.11 | N/A | $0.80+19.4% | $0.67 |
INBK Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.7B+2.5% | $5.6B-1.2% | $5.6B-7.1% | $6.1B+3.8% | $5.9B+2.0% | $5.7B-1.5% | $5.8B+9.0% | $5.3B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $601.8M+31.8% | $456.8M-42.0% | $787.7M+76.5% | $446.4M+13.2% | $394.5M-15.4% | $466.4M-34.5% | $712.5M+79.6% | $396.8M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $4.7M0.0% | $4.7M0.0% | $4.7M0.0% | $4.7M0.0% | $4.7M0.0% | $4.7M0.0% | $4.7M0.0% | $4.7M |
| Total Liabilities | $5.4B+2.7% | $5.2B-1.4% | $5.3B-7.0% | $5.7B+4.0% | $5.5B+2.1% | $5.4B-1.6% | $5.4B+9.4% | $5.0B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | $249.5M | N/A | N/A | N/A | $295.0M | N/A | N/A |
| Total Equity | $361.0M+0.3% | $359.8M+2.2% | $352.2M-9.8% | $390.2M+0.6% | $387.7M+1.0% | $384.1M-0.3% | $385.1M+3.5% | $372.0M |
| Retained Earnings | $195.3M+1.0% | $193.3M+2.5% | $188.6M-18.3% | $230.7M-0.1% | $231.0M+0.2% | $230.6M+3.0% | $223.8M+3.0% | $217.4M |
INBK Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $75.5M+218.5% | $23.7M-36.0% | $37.1M+141.1% | -$90.2M-374.7% | $32.8M+633.3% | -$6.2M-1959.5% | $331K-97.9% | $16.0M |
| Capital Expenditures | $299K+3.8% | $288K+171.7% | $106K-83.7% | $650K+253.3% | $184K-62.8% | $495K-17.6% | $601K+8.1% | $556K |
| Free Cash Flow | $75.3M+221.1% | $23.4M-36.6% | $37.0M+140.7% | -$90.8M-378.2% | $32.6M+590.8% | -$6.7M-2363.0% | -$270K-101.7% | $15.5M |
| Investing Cash Flow | -$61.7M+77.8% | -$277.9M-139.5% | $703.1M+978.3% | -$80.1M+63.0% | -$216.4M-39.7% | -$154.9M-4.7% | -$147.9M-47.7% | -$100.1M |
| Financing Cash Flow | $131.1M+271.0% | -$76.7M+80.8% | -$398.9M-279.6% | $222.1M+98.9% | $111.7M+231.3% | -$85.0M-118.4% | $463.3M+122331.7% | -$379K |
| Dividends Paid | $521K+1.0% | $516K-0.2% | $517K-3.2% | $534K+2.7% | $520K+4.4% | $498K-6.2% | $531K+0.2% | $530K |
| Share Buybacks | N/A | $521K | $0 | $0 | $0 | $0 | $0 | $0 |
INBK Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 3.3%-3.5pp | 6.8%+56.1pp | -49.3%-49.5pp | 0.2%-1.0pp | 1.2%-8.2pp | 9.4%+0.1pp | 9.3%+1.2pp | 8.1% |
| Return on Equity | 0.7%-0.8pp | 1.5%+13.3pp | -11.8%-11.9pp | 0.1%-0.2pp | 0.2%-1.7pp | 1.9%+0.1pp | 1.8%+0.3pp | 1.6% |
| Return on Assets | 0.0%-0.1pp | 0.1%+0.8pp | -0.7%-0.7pp | 0.0%-0.0pp | 0.0%-0.1pp | 0.1%+0.0pp | 0.1%0.0pp | 0.1% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 14.82+14.1 | 0.69-14.3 | 15.01+0.5 | 14.56+0.5 | 14.09+13.3 | 0.77-13.4 | 14.12+0.8 | 13.37 |
| FCF Margin | 99.3%+69.2pp | 30.0%-13.8pp | 43.8%+156.1pp | -112.3%-154.8pp | 42.5%+51.0pp | -8.6%-8.2pp | -0.4%-22.2pp | 21.8% |
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Frequently Asked Questions
What is First Internet B's annual revenue?
First Internet B (INBK) reported $320.2M in total revenue for fiscal year 2025. This represents a 9.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is First Internet B's revenue growing?
First Internet B (INBK) revenue grew by 9.7% year-over-year, from $291.9M to $320.2M in fiscal year 2025.
Is First Internet B profitable?
No, First Internet B (INBK) reported a net income of -$35.2M in fiscal year 2025, with a net profit margin of -11.0%.
How much debt does First Internet B have?
As of fiscal year 2025, First Internet B (INBK) had $456.8M in cash and equivalents against $249.5M in long-term debt.
What is First Internet B's net profit margin?
First Internet B (INBK) had a net profit margin of -11.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does First Internet B pay dividends?
Yes, First Internet B (INBK) paid $0.24 per share in dividends during fiscal year 2025.
What is First Internet B's return on equity (ROE)?
First Internet B (INBK) has a return on equity of -9.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is First Internet B's free cash flow?
First Internet B (INBK) generated $2.2M in free cash flow during fiscal year 2025. This represents a -78.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is First Internet B's operating cash flow?
First Internet B (INBK) generated $3.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are First Internet B's total assets?
First Internet B (INBK) had $5.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are First Internet B's capital expenditures?
First Internet B (INBK) invested $1.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is First Internet B's debt-to-equity ratio?
First Internet B (INBK) had a debt-to-equity ratio of 0.69 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is First Internet B's return on assets (ROA)?
First Internet B (INBK) had a return on assets of -0.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is First Internet B's Piotroski F-Score?
First Internet B (INBK) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are First Internet B's earnings high quality?
First Internet B (INBK) has an earnings quality ratio of -0.10x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is First Internet B?
First Internet B (INBK) scores 30 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.