1.Sales and profit
See section β- BayFirst Financial Corp. had $63.1M of revenue in fiscal 2025, down 34.3% on the year before. Over five years, revenue changed β13.6% a year on average.
- BayFirst Financial Corp. lost $24.6M in fiscal 2025.
BayFirst Financial Corp.
BAFN Nasdaq State Commercial Banks Financials FY2020βFY2025
BayFirst Financial Corp. had $63.1M of revenue in fiscal 2025, down 34.3% on the year before. Over five years, revenue changed β13.6% a year on average.
Last close Β· Oct 23, 2026
$6.88
0.4%KIRAβs summary AI analyst
Hi! I read BayFirst Financial Corp.βs latest annual report (fiscal 2025). Here is what stands out:
3 to watch
2.Cash and shareholders
See section β- BayFirst Financial Corp. returned $1.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count fell 0.1%.
- No open-market insider trades in the last 12 months.
3.Financial health
See section β- It earned β26.1% on shareholdersβ money. Running costs took 111.7% of revenue (the efficiency ratio; lower is better).
BayFirst Financial Corp. in 30 seconds
Good So-so Weak
Weak
Are sales growing?
β34.3%
No. Sales fell 34.3% last year.
Weak
Does it make a profit?
β39.0%
No. It lost money last year.
Weak
How lean are its costs?
111.7%
Costly. Running costs take 111.7% of revenue.
Weak
How much does it earn on its capital?
β26.1%
Low. It earns β26.1% a year on shareholdersβ money.
For information
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
$28.3M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
β
On β$15.05 EPS (TTM)
Charts by
Sales and profit
Is it selling more, and how much does it keep?
Revenue and margins
KIRA Β· BayFirst Financial Corp. had $63.1M of revenue in fiscal 2025, down 34.3% on the year before. Over five years, revenue changed β13.6% a year on average.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
FY20
Revenue $131M
FY21
Revenue $58.5M
FY22
Revenue $61.6M
FY23
Revenue $86.2M
FY24
Revenue $96.0M
FY25
Revenue $63.1M
Revenue
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
Net interest income share and efficiency ratio
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
Net interest income share and 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
KIRA Β· BayFirst Financial Corp. lost $24.6M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
FY20
Net income $12.7M
FY21
Net income $24.6M
FY22
Net income β$0.3M
FY23
Net income $5.7M
FY24
Net income $10.2M
FY25
Net income β$24.6M
Net income
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 β$0.9M
Q2 '25
Net income β$1.9M
Q3 '25
Net income β$19.1M
Q4 '25
Net income β$2.7M
Q1 '26
Net income β$5.9M
Q2 '26
Net income β$32.7M
Diluted EPS
FY20
Diluted EPS $3.01
FY21
Diluted EPS $5.91
FY22
Diluted EPS β$0.22
FY23
Diluted EPS $1.12
FY24
Diluted EPS $2.09
FY25
Diluted EPS β$6.32
Diluted EPS
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 β$0.32
Q2 '25
Diluted EPS β$0.54
Q3 '25
Diluted EPS β$4.71
Q4 '25
Diluted EPS β$0.75
Q1 '26
Diluted EPS β$1.54
Q2 '26
Diluted EPS β$8.05
Cash and shareholders
How much cash comes in, and where does it go?
Dividends, buybacks and share count
KIRA Β· BayFirst Financial Corp. returned $1.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count fell 0.1%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
FY20
Dividends $0.9M
Buybacks β
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
Dividends and 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
Diluted shares outstanding (annual)
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
Insider trades
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
Loans, deposits and capital at each fiscal year end.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Loans and deposits
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 |
Returns and efficiency
KIRA Β· It earned β26.1% on shareholdersβ money. Running costs took 111.7% of revenue (the efficiency ratio; lower is better).
For banks, return on equity and the efficiency ratio (costs as a share of revenue) say most about how well the business runs.
In plain words: Return on equity is the profit made on shareholdersβ money each year. The efficiency ratio is how much of each dollar of revenue goes on running costs, so lower is better.
Return on equity, return on tangible equity and efficiency ratio
FY20
ROE 17.9%
ROTE 16.7%
Efficiency ratio 75.1%
FY21
ROE 29.4%
ROTE 24.5%
Efficiency ratio 85.9%
FY22
ROE β0.4%
ROTE β1.3%
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 β26.1%
ROTE β32.0%
Efficiency ratio 111.7%
ROE
ROTE
Efficiency ratio
All figures
Every number, year by year.
6 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| 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 | β | β |
| Pretax income | $15.8M | $11.7M | $7.0M | $8.0M | $13.8M | β$33.0M |
| Income tax | $3.1M | $2.7M | $1.6M | $2.1M | $3.5M | β$8.5M |
| Net income | $12.7M | $24.6M | β$0.3M | $5.7M | $10.2M | β$24.6M |
| Net income to common | $11.8M | $23.6M | β$1.2M | $4.7M | $8.6M | β$26.1M |
| Diluted EPS | $3.01 | $5.91 | β$0.22 | $1.12 | $2.09 | β$6.32 |
| Diluted shares | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B |
| Cash flow | ||||||
| Cash from operations | β$108M | $495M | $440M | $455M | $393M | $289M |
| Capital expenditure | $3.0M | $13.1M | $8.1M | $7.6M | $1.7M | $0.3M |
| Free cash flow | β$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 | β | $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% | β0.6% | 6.6% | 10.6% | β39.0% |
| FCF margin | β84.5% | 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% | β0.4% | 6.0% | 9.9% | β26.1% |
| Return on assets | 0.8% | 2.0% | β0.0% | 0.6% | 0.8% | β1.9% |
| Return on tangible equity | 16.7% | 24.5% | β1.3% | 4.8% | 8.1% | β32.0% |
| Growth | ||||||
| Revenue growth | β | β55.4% | 5.2% | 40.0% | 11.3% | β34.3% |
| Net income growth | β | 93.8% | β101.4% | β | 78.7% | β341.1% |
| EPS growth | β | 96.3% | β103.7% | β | 86.6% | β402.4% |
| FCF growth | β | β | β10.4% | 3.5% | β12.4% | β26.3% |
| Share count change | β | 1.7% | 3.7% | 8.6% | β9.8% | β0.1% |
| 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 | β | 0.2% | 0.3% | 0.3% | 0.3% | 0.3% |
| Quality scores | ||||||
| Accruals ratio | 7.8% | β38.2% | β47.5% | β43.7% | β31.9% | β24.3% |
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 β not investment advice. Check the original filings before relying on any figure.