10-K · March 6, 2026
Cass positions itself as a payments and payables information services provider with four core competencies (data acquisition, data management, business intelligence and financial exchange) and emphasizes its competitive…
Earnings analysis · 10-Q
CASS earnings analysis
Filed May 5, 2026 · Our reading of the company's report
The latest report
Cass Information Systems reported a solid Q1 2026 with total revenues reaching $49.1 million, up 5.8% year-over-year, and diluted EPS increasing by 4.8% to $0.66. The growth was primarily driven by a 10.1% rise in net…
Read full summary
Cass Information Systems reported a solid Q1 2026 with total revenues reaching $49.1 million, up 5.8% year-over-year, and diluted EPS increasing by 4.8% to $0.66. The growth was primarily driven by a 10.1% rise in net interest income, although processing fees dipped by 4.5% due to lower transaction volumes. Management forecasts a continued positive trend in loan growth and net interest margin for the remainder of the year.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.66
What stood out
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Revenue Grew 5.8% YoY
Total revenue increased to $49.1 million for Q1 2026, up from $46.4 million in Q1 2025.
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EPS Increased 4.8%
Diluted EPS reached $0.66 in Q1 2026, compared to $0.63 in Q1 2025.
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Strong Net Interest Income Growth
Net interest income rose by 10.1%, reaching $21.2 million, up from $19.3 million in the prior year.
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Operating Expenses Increased
Operating expenses rose 7.6% to $38.2 million, up from $35.5 million year-over-year.
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Decrease in Cash Balances
Cash and cash equivalents fell by 37.7%, a decrease of $147.9 million from the prior quarter.
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Decrease in Provision for Credit Losses
The provision for credit losses decreased by 93.3%, falling to $61,000 from $905,000 in Q1 2025.
What to watch
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Decrease in Processing Fees
Processing fees decreased 4.5% to $15.7 million, affected by lower transportation and facility volumes.
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Increased Operating Expenses
Operating expenses rose 7.6% due to ongoing investments in growth initiatives.
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Shrinking Cash Position
Cash balances declined significantly, showing a decrease of $147.9 million or 37.7%.
Management's outlook
Management expects continued loan growth of 6%–8% for full year 2026 and further improvements in net interest margin.
Earlier filings 4
10-Q · November 4, 2025
Cass reported Q3 revenue of $50,056,000, up from $46,521,000 a year ago, with pre-tax income rising to $11,615,000 (versus $3,764,000 a year ago) and diluted EPS of $0.68 (vs $0.21). Both operating performance and cash…
10-Q · August 5, 2025
Cass reported Q2 2025 net revenue of $44.398M, up $0.421M (+0.96%) year-over-year but down $2.008M (-4.33%) sequentially. Diluted EPS was $0.66 (vs $0.32 a year ago), driven by higher net interest income and a $3.55M…
10-Q · May 7, 2025
Cass reported Q1 2025 net revenue of $46.407M (up $1.302M vs Q1 2024) and diluted EPS of $0.66 (up $0.14 vs $0.52 a year ago), supported by higher net interest income and strong operating cash flow. Loans grew to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.