First Internet Bancorp (INBK) financial statements
First Internet Bancorp reported revenue of $116M in fiscal 2025, up 9.0% a year over 9 years.
Net income was -$35M.
Free cash flow was $2M, and the company returned $2M in dividends and $521,000 in net buybacks.
The diluted share count rose 67% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from First Internet Bancorp's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $54M | $8M | $6M | $12M | $101M | $119M | $118M | $101M | $135M | $116M |
| Interest expense | $19M | $31M | $53M | $84M | $72M | $47M | $60M | $165M | — | — |
| Pre-tax income | $18M | $23M | $24M | $27M | $34M | $57M | $40M | $5M | $28M | -$51M |
| Income tax | $6M | $8M | $2M | $2M | $4M | $8M | $5M | -$3M | $2M | -$16M |
| Net income | $12M | $15M | $22M | $25M | $29M | $48M | $36M | $8M | $25M | -$35M |
| EPS (diluted) | $2.30 | $2.13 | $2.30 | $2.51 | $2.99 | $4.82 | $3.70 | $0.95 | $2.88 | -$4.03 |
| Diluted shares | 5M | 7M | 10M | 10M | 10M | 10M | 10M | 9M | 9M | 9M |
| Net margin | 22.5% | 194.3% | 383.0% | 218.7% | 29.2% | 40.3% | 30.0% | 8.3% | 18.8% | -30.2% |
Balance sheet
Fiscal years, from First Internet Bancorp's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $39M | $48M | $189M | $327M | $420M | $443M | $257M | $406M | $466M | $457M |
| Property, plant and equipment | $10M | $10M | $11M | $15M | $38M | $60M | $73M | $73M | $71M | $68M |
| Goodwill | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M |
| Total assets | $1.9B | $2.8B | $3.5B | $4.1B | $4.2B | $4.2B | $4.5B | $5.2B | $5.7B | $5.6B |
| Total liabilities | $1.7B | $2.5B | $3.3B | $3.8B | $3.9B | $3.8B | $4.2B | $4.8B | $5.4B | $5.2B |
| Shareholders' equity | $154M | $224M | $289M | $305M | $331M | $380M | $365M | $363M | $384M | $360M |
| Net debt | -$39M | -$48M | -$189M | -$327M | -$420M | -$443M | -$257M | -$406M | -$466M | -$457M |
Cash flow
Fiscal years, from First Internet Bancorp's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $26M | $25M | $29M | -$44M | $13M | $55M | $83M | $12M | $13M | $3M |
| Capital spending | $3M | $2M | $2M | $4M | $26M | $30M | $18M | $5M | $3M | $1M |
| Free cash flow | $23M | $23M | $27M | -$48M | -$12M | $25M | $65M | $6M | $10M | $2M |
| Stock-based compensation | $736,000 | $1M | $2M | $2M | $2M | $2M | $2M | $1M | $2M | $1M |
| Dividends paid | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M |
| Share buybacks (net) | $0 | $0 | -$216,000 | -$10M | $0 | -$4M | -$28M | -$9M | -$283,000 | -$521,000 |
| Net borrowing | $0 | $0 | -$3M | $0 | — | — | — | — | — | — |
| Free cash flow margin | 43.3% | 294.9% | 474.6% | -413.2% | -12.4% | 20.9% | 55.1% | 6.2% | 7.7% | 1.9% |
| Dividends per share | $0.23 | $0.23 | $0.23 | $0.24 | $0.24 | $0.24 | $0.24 | $0.24 | $0.24 | $0.24 |
Questions
What was First Internet Bancorp's revenue in 2025?
$116M in fiscal 2025, from its 10-K filing.
How much free cash flow does First Internet Bancorp generate?
$2M in fiscal 2025 (operating cash flow minus capital spending).
From First Internet Bancorp's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.