| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 58.73 | 6.2% | 10.2% |
| Total Income | 58.73 | 6.2% | 10.2% |
| Expenditure | 45.11 | 1.3% | 10.9% |
| PBT | 19.48 | 0.1% | 37.4% |
| Net Profit | 7.76 | 29.9% | 9.9% |
| OPM | — | ||
| NPM | 13.22% | 4.47pp | 2.93pp |
| EPS | 0.34 | 30.6% | 10.5% |
Medallion Financial Corp. Reports Q3 2025 Results
04 May 2026 · 4 May, 8:39 am
Summary
Medallion Financial Corp. announced its financial results for the third quarter of 2025, with a net income of $7.8 million, or $0.32 per share, which includes a non-recurring charge of $3.5 million. Excluding this charge, net income was $11.3 million, compared to $8.6 million in the prior year quarter. Net interest income grew by 6% to $55.7 million. Loan originations increased to $427.4 million, and the loan portfolio reached $2.559 billion. The company's strategic partnership loan program continues to scale, with $208 million in originations this quarter.
Key Highlights
- 1
Medallion Financial Corp. reported a net income attributable to stockholders of $7.8 million, or $0.32 per share, for the third quarter of 2025, including a non-recurring charge of $3.5 million.
- 2
Excluding the non-recurring charge, net income for the third quarter of 2025 was $11.3 million, compared to $8.6 million, or $0.37 per share, in the prior year quarter.
- 3
Net interest income increased by 6% to $55.7 million from $52.7 million in the prior year quarter.
- 4
Loan originations grew to $427.4 million, compared to $275.6 million in the prior year quarter, including $208.4 million from strategic partnership loan originations.
- 5
The loan portfolio as of September 30, 2025, was $2.559 billion, up 3% from $2.485 billion a year ago.
- 6
Net book value per share as of September 30, 2025, was $17.07 per share, up 9% from $15.70 a year ago.
- 7
The company declared and paid a quarterly cash dividend of $0.12 per share.
Management Comments
Andrew Murstein
We are very pleased with our continued strong results. This quarter we reached record highs in net interest income, loan volume and total assets. We had a 31% increase in net income year-over-year when excluding the $3.5 million non-recurring charges related to the redemption of the Bank's series F preferred stock, and continued momentum across our core lending businesses. Net interest margin continued to improve on both gross and net loans. Our diverse business lines delivered meaningful contributions, with higher interest income and disciplined execution supporting strong financial performance. The loan portfolio continued to grow, reaching $2.56 billion, and loan originations reaching $427 million at the end of the quarter. Our strategic partnership loan program continues to scale, with $208 million in originations this quarter, up significantly from $169 million in the prior quarter and $40 million a year ago, further demonstrating the appeal and growth potential of this platform. We continue to see strong momentum in this channel and intend to continue expanding the program as we move forward. Furthermore, during the quarter, we collected over $6 million from taxi medallion-related assets, which resulted in net recoveries and gains of $3.4 million for the period. Our nine months earnings have increased 20% year over year. We continue to benefit from strong portfolio diversification, disciplined underwriting, consistently high credit performance, and stable, attractive yields generated by our lending platform. We are strengthening our analytical and data-driven approach to lending, supported by digital tools that enhance various stages of our lending business, from underwriting and origination, to servicing and portfolio management. This integrated platform allows us to evaluate credit risk with greater precision, improving decision-making and maintaining strong credit performance across different micro- and macro-economic cycles. These capabilities, along with our strong leadership team and momentum across business lines, position Medallion for sustainable growth and allow us to continue generating strong returns for our stockholders.
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