BayFirst Financial Corp.
BAFN Nasdaq State Commercial Banks Financials FY2020–FY2025
Revenue
Total sales reported in the income statement.
$63.1M
34.3%
vs prior year
Efficiency ratio
Noninterest expense as a share of revenue. Lower is better for banks.
111.7%
42.1 pts
Net income
Profit after all expenses, interest and tax.
−$24.6M
341.1%
Return on equity
Net income as a share of average shareholders' equity.
−26.1%
36.0 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$15.05 EPS (TTM)
What BayFirst Financial Corp. does
No business description yet.
- Legal name
- BayFirst Financial Corp.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 27, 2026
- Accession · CIK
- 0001649739-26-000014
0001649739
Revenue and margins
BayFirst Financial Corp. had $63.1M of revenue in fiscal 2025, down 34.3% on the year before.
FY20
Revenue $131M
FY21
Revenue $58.5M
FY22
Revenue $61.6M
FY23
Revenue $86.2M
FY24
Revenue $96.0M
FY25
Revenue $63.1M
Q3 '23
Revenue $23.1M
Q4 '23
Revenue $23.6M
Q1 '24
Revenue $23.0M
Q2 '24
Revenue $20.8M
Q3 '24
Revenue $21.7M
Q4 '24
Revenue $30.4M
Q1 '25
Revenue $19.1M
Q2 '25
Revenue $22.7M
Q3 '25
Revenue $10.2M
Q4 '25
Revenue $9.9M
Q1 '26
Revenue $10.3M
Q2 '26
Revenue $2.6M
FY20
Net interest share 25.5%
Efficiency ratio 75.1%
FY21
Net interest share 62.4%
Efficiency ratio 85.9%
FY22
Net interest share 48.7%
Efficiency ratio 89.7%
FY23
Net interest share 42.3%
Efficiency ratio 78.6%
FY24
Net interest share 38.6%
Efficiency ratio 69.6%
FY25
Net interest share 71.7%
Efficiency ratio 111.7%
Net interest share
Efficiency ratio
Q3 '23
Net interest share 36.4%
Efficiency ratio 75.5%
Q4 '23
Net interest share 37.7%
Efficiency ratio 78.4%
Q1 '24
Net interest share 38.0%
Efficiency ratio 77.2%
Q2 '24
Net interest share 44.1%
Efficiency ratio 79.7%
Q3 '24
Net interest share 43.5%
Efficiency ratio 78.6%
Q4 '24
Net interest share 31.9%
Efficiency ratio 50.5%
Q1 '25
Net interest share 55.6%
Efficiency ratio 82.8%
Q2 '25
Net interest share 53.5%
Efficiency ratio 77.4%
Q3 '25
Net interest share 110.4%
Efficiency ratio 246.0%
Q4 '25
Net interest share 106.6%
Efficiency ratio 119.6%
Q1 '26
Net interest share 91.4%
Efficiency ratio 144.2%
Q2 '26
Net interest share 360.6%
Efficiency ratio 676.5%
Net interest share
Efficiency ratio
Net income and earnings per share
Loss periods are shown in red.
FY20
Net income $12.7M
FY21
Net income $24.6M
FY22
Net income −$0.3M
FY23
Net income $5.7M
FY24
Net income $10.2M
FY25
Net income −$24.6M
Q3 '23
Net income $1.9M
Q4 '23
Net income $1.7M
Q1 '24
Net income $0.8M
Q2 '24
Net income $0.9M
Q3 '24
Net income $1.1M
Q4 '24
Net income $7.4M
Q1 '25
Net income −$0.9M
Q2 '25
Net income −$1.9M
Q3 '25
Net income −$19.1M
Q4 '25
Net income −$2.7M
Q1 '26
Net income −$5.9M
Q2 '26
Net income −$32.7M
FY20
Diluted EPS $3.01
FY21
Diluted EPS $5.91
FY22
Diluted EPS −$0.22
FY23
Diluted EPS $1.12
FY24
Diluted EPS $2.09
FY25
Diluted EPS −$6.32
Q3 '23
Diluted EPS $0.41
Q4 '23
Diluted EPS $0.29
Q1 '24
Diluted EPS $0.11
Q2 '24
Diluted EPS $0.12
Q3 '24
Diluted EPS $0.18
Q4 '24
Diluted EPS $1.68
Q1 '25
Diluted EPS −$0.32
Q2 '25
Diluted EPS −$0.54
Q3 '25
Diluted EPS −$4.71
Q4 '25
Diluted EPS −$0.75
Q1 '26
Diluted EPS −$1.54
Q2 '26
Diluted EPS −$8.05
Returns and efficiency
For banks, return on equity and the efficiency ratio (costs as a share of revenue) say most about how well the business runs.
FY20
ROE 17.9%
ROTE 16.7%
Efficiency ratio 75.1%
FY21
ROE 29.4%
ROTE 24.5%
Efficiency ratio 85.9%
FY22
ROE −0.4%
ROTE −1.3%
Efficiency ratio 89.7%
FY23
ROE 6.0%
ROTE 4.8%
Efficiency ratio 78.6%
FY24
ROE 9.9%
ROTE 8.1%
Efficiency ratio 69.6%
FY25
ROE −26.1%
ROTE −32.0%
Efficiency ratio 111.7%
ROE
ROTE
Efficiency ratio
Dividends, buybacks and share count
BayFirst Financial Corp. returned $1.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count fell 0.1%.
FY20
Dividends $0.9M
Buybacks —
FY21
Dividends $1.1M
Buybacks $0.0M
FY22
Dividends $1.3M
Buybacks $0.0M
FY23
Dividends $1.3M
Buybacks $0.0M
FY24
Dividends $1.3M
Buybacks $0.0M
FY25
Dividends $0.7M
Buybacks $0.3M
Dividends
Buybacks
Q3 '23
Dividends $0.3M
Buybacks $0.0M
Q4 '23
Dividends $0.3M
Buybacks $0.0M
Q1 '24
Dividends $0.3M
Buybacks $0.0M
Q2 '24
Dividends $0.3M
Buybacks $0.0M
Q3 '24
Dividends $0.3M
Buybacks $0.0M
Q4 '24
Dividends $0.3M
Buybacks $0.0M
Q1 '25
Dividends $0.3M
Buybacks $0.3M
Q2 '25
Dividends $0.3M
Buybacks $0.0M
Q3 '25
Dividends $0.0M
Buybacks $0.0M
Q4 '25
Dividends $0.0M
Buybacks $0.0M
Q1 '26
Dividends $0.0M
Buybacks $0.0M
Q2 '26
Dividends $0.0M
Buybacks $0.0M
Dividends
Buybacks
FY20
Diluted shares 0.00B
FY21
Diluted shares 0.00B
FY22
Diluted shares 0.00B
FY23
Diluted shares 0.00B
FY24
Diluted shares 0.00B
FY25
Diluted shares 0.00B
Balance sheet
Loans, deposits and capital at each fiscal year end.
FY20
Loans $1.2B
Deposits $559M
FY21
Loans $561M
Deposits $722M
FY22
Loans $693M
Deposits $795M
FY23
Loans $811M
Deposits $985M
FY24
Loans $986M
Deposits $1.1B
FY25
Loans $882M
Deposits $1.2B
Loans
Deposits
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Loans, net | $561M | $693M | $811M | $986M | $882M |
| Deposits | $722M | $795M | $985M | $1.1B | $1.2B |
| Loans / deposits | 77.7% | 87.1% | 82.3% | 86.2% | 74.5% |
| Total assets | $917M | $939M | $1.1B | $1.3B | $1.3B |
| Shareholders' equity | $96.3M | $91.9M | $98.8M | $107M | $81.6M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
6 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | $131M | $58.5M | $61.6M | $86.2M | $96.0M | $63.1M |
| Net interest income | $33.5M | $36.5M | $30.0M | $36.4M | $37.1M | $45.2M |
| Noninterest income | $97.7M | $22.0M | $31.6M | $49.8M | $58.9M | $17.8M |
| Noninterest expense | $98.5M | $50.3M | $55.2M | $67.7M | $66.8M | $70.4M |
| Interest expense | $10.3M | $7.3M | $8.6M | $32.1M | — | — |
| Pretax income | $15.8M | $11.7M | $7.0M | $8.0M | $13.8M | −$33.0M |
| Income tax | $3.1M | $2.7M | $1.6M | $2.1M | $3.5M | −$8.5M |
| Net income | $12.7M | $24.6M | −$0.3M | $5.7M | $10.2M | −$24.6M |
| Net income to common | $11.8M | $23.6M | −$1.2M | $4.7M | $8.6M | −$26.1M |
| Diluted EPS | $3.01 | $5.91 | −$0.22 | $1.12 | $2.09 | −$6.32 |
| Diluted shares | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B |
| Cash flow | ||||||
| Cash from operations | −$108M | $495M | $440M | $455M | $393M | $289M |
| Capital expenditure | $3.0M | $13.1M | $8.1M | $7.6M | $1.7M | $0.3M |
| Free cash flow | −$111M | $482M | $432M | $447M | $392M | $289M |
| Depreciation and amortization | $1.4M | $1.3M | $1.7M | $2.2M | $2.5M | $2.2M |
| Stock-based compensation | $0.4M | $0.5M | $0.8M | $0.6M | $0.4M | $0.1M |
| Share buybacks | — | $0.0M | $0.0M | $0.0M | $0.0M | $0.3M |
| Dividends paid | $0.9M | $1.1M | $1.3M | $1.3M | $1.3M | $0.7M |
| Dividends and buybacks | $0.9M | $1.1M | $1.3M | $1.3M | $1.3M | $1.0M |
| Balance sheet | ||||||
| Cash and short-term investments | $55.4M | $110M | $66.0M | $58.4M | $77.8M | $207M |
| Loans, net | $1.2B | $561M | $693M | $811M | $986M | $882M |
| Deposits | $559M | $722M | $795M | $985M | $1.1B | $1.2B |
| Property and equipment, net | $18.1M | $29.7M | $35.4M | $38.9M | $33.2M | $31.2M |
| Total assets | $1.5B | $917M | $939M | $1.1B | $1.3B | $1.3B |
| Total liabilities | $1.5B | $821M | $847M | $1.0B | $1.2B | $1.2B |
| Shareholders' equity | $71.1M | $96.3M | $91.9M | $98.8M | $107M | $81.6M |
| Margins | ||||||
| Net margin | 9.7% | 42.1% | −0.6% | 6.6% | 10.6% | −39.0% |
| FCF margin | −84.5% | 824.4% | 702.2% | 518.9% | 408.2% | 457.6% |
| Net interest share of revenue | 25.5% | 62.4% | 48.7% | 42.3% | 38.6% | 71.7% |
| Efficiency ratio | 75.1% | 85.9% | 89.7% | 78.6% | 69.6% | 111.7% |
| Returns | ||||||
| Return on equity | 17.9% | 29.4% | −0.4% | 6.0% | 9.9% | −26.1% |
| Return on assets | 0.8% | 2.0% | −0.0% | 0.6% | 0.8% | −1.9% |
| Return on tangible equity | 16.7% | 24.5% | −1.3% | 4.8% | 8.1% | −32.0% |
| Growth | ||||||
| Revenue growth | — | −55.4% | 5.2% | 40.0% | 11.3% | −34.3% |
| Net income growth | — | 93.8% | −101.4% | — | 78.7% | −341.1% |
| EPS growth | — | 96.3% | −103.7% | — | 86.6% | −402.4% |
| FCF growth | — | — | −10.4% | 3.5% | −12.4% | −26.3% |
| Share count change | — | 1.7% | 3.7% | 8.6% | −9.8% | −0.1% |
| Financial health | ||||||
| Loans / deposits | 214.4% | 77.7% | 87.1% | 82.3% | 86.2% | 74.5% |
| Capital allocation | ||||||
| Capex / revenue | 2.3% | 22.4% | 13.1% | 8.8% | 1.8% | 0.5% |
| Stock comp / revenue | 0.3% | 0.8% | 1.2% | 0.7% | 0.4% | 0.2% |
| Payouts / FCF | — | 0.2% | 0.3% | 0.3% | 0.3% | 0.3% |
| Quality scores | ||||||
| Accruals ratio | 7.8% | −38.2% | −47.5% | −43.7% | −31.9% | −24.3% |
Source: SEC EDGAR XBRL filings (CIK 0001649739). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.