First Internet

Q2 FY2026 EarningsQ2 FY26 delivered a significant bottom-line beat with GAAP EPS of $0.27 nearly doubling the $0.1375 consensus. Total revenue of $41.1M outperformed the $35.3M estimate, driven by a 56.3% YoY surge in noninterest income and a 15.9% YoY increase in net interest income. However, NIM of 2.39% missed the 2.56% consensus despite a 43 bps YoY expansion. The earnings beat was further amplified by a negative effective tax rate (tax benefit) compared to the 34.4% positive rate expected by analysts.