10-Q · May 12, 2026
FinWise Bancorp's Q1 2026 results reflected a significant decline in revenue and earnings as net income fell to $2.7 million, or $0.20 EPS, missing consensus estimates. The company experienced a net interest income…
Earnings analysis · 10-Q
FINW earnings analysis
Filed August 12, 2026 · Our reading of the company's report
The latest report
FinWise delivered strong Q2 revenue of $54.343 million, up 13.2% sequentially and 81.1% year over year, but diluted EPS fell to $0.15 from $0.20 in Q1 and $0.29 a year earlier. The filing does not provide…
Read full summary
FinWise delivered strong Q2 revenue of $54.343 million, up 13.2% sequentially and 81.1% year over year, but diluted EPS fell to $0.15 from $0.20 in Q1 and $0.29 a year earlier. The filing does not provide current-quarter gross margin, operating margin, segment revenue or free cash flow figures in the supplied disclosure. Interest-rate sensitivity, the card-receivables transition and approximately $4.0 million of integration costs remain significant risks, while the prior approximately $217 million balance outlook has been withdrawn.
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
- $0.15
What stood out
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Revenue continued to scale
Q2 revenue was $54.343 million, up approximately 13.2% from $48 million in Q1 2026 and approximately 81.1% from $30 million in Q2 2025.
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Share repurchases initiated
The company repurchased 29,736 shares during Q2 at an average price of $14.15 per share, leaving 655,264 shares available under the program.
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Cyber settlement insured
The data-breach settlement fund received preliminary court approval on July 1, 2026, and the company expects the settlement, including all fees and expenses, to be covered in full by its cyber insurance policy.
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No control deficiencies reported
Management reported effective disclosure controls under Exchange Act Rule 13a-15(e), with no changes in internal controls during the quarter ended June 30, 2026 that materially affected or were reasonably likely to materially affect those controls.
What to watch
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Earnings declined despite revenue growth
Q2 diluted EPS was $0.15, down from $0.20 in Q1 2026 and $0.29 in Q2 2025, representing declines of 25.0% sequentially and 48.3% year over year despite revenue growth to $54.343 million.
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Down-rate scenarios pressure capital value
The June 30, 2026 interest-rate sensitivity analysis showed economic value of equity declining 15.8% under a 400-basis-point rate decrease and 2.5% under a 100-basis-point decrease; static earnings-at-risk was negative 0.4% under a 400-basis-point decrease.
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Card transition adds balance-sheet exposure
The card transaction is expected to move approximately $50 million of receivables onto the bank’s balance sheet and incur approximately $4.0 million of integration costs over the next year, increasing credit exposure and near-term execution costs.
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No material risk-factor changes disclosed
The 10-Q states there were no material changes to the risk factors in the 2025 Form 10-K. The absence of an update does not eliminate exposure to the previously disclosed risks, including operational, credit, regulatory and data-security risks.
Management's outlook
No numeric revenue or EPS outlook was provided in the 10-Q. The previously disclosed approximately $217 million year-end 2026 credit-enhanced-balance outlook was withdrawn following the card-receivables transaction; no replacement quantitative outlook was disclosed.
Earlier filings 4
10-K · March 23, 2026
FinWise presents a technology-focused bank model with three reportable segments (traditional banking, BaaS and treasury & administration) and a nationwide origination footprint anchored by Strategic Programs and SBA…
10-Q · November 12, 2024
FinWise reported a revenue increase to $24,978,000 for Q3 2024 (total interest income $18,924,000 + non‑interest income $6,054,000), up $2,874,000 (13.0%) YoY from $22,104,000. Despite top‑line growth, operating…
10-Q · August 15, 2023
FinWise reported Q2 2023 diluted EPS of $0.35 and consolidated revenue of $18,963,000 (net interest income $13,675,000 + non-interest income $5,288,000). Revenue and net income declined versus Q2 2022 (revenue…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.