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Did Pathward Financial beat or miss consensus estimates last quarter?

- **Revenue Growth**: 15% YoY driven by North American market recovery.
- **Strategic Focus**: 2026 strategy emphasizes 5 pillars: balance sheet optimization, tech investment, culture, risk management, and client experience.
- **Financial Strength**: 2026 EPS guidance $8.25-$8.75, supported by strong balance sheet and secondary market revenue.
- **Partnership Success**: Upstart and Clair enable financial inclusion through early wage access and personal loans.
- **Risk Management**: Nonperforming loans well-collateralized, with 3 large loans expected to resolve within 3-6 months.


**【CEO Summary Section】**
- Revenue grew 15% YoY, driven by North American market recovery.
- 2026 strategy focuses on 5 pillars: balance sheet optimization, technology investment, people/culture, risk/compliance, and client experience.
- Named a 'Best Place to Work' for the third year, reflecting employee retention and culture.

**【CFO Financial Commentary】**
- Q4 net income $420M, Non-GAAP EPS $1.08 (vs. $0.95 prior guidance).
- Full year net interest margin 7.34%, adjusted to 5.92% (including card expenses).
- Noninterest income up 10% YoY, driven by balance sheet optimization and secondary market revenue.
- 2026 EPS guidance $8.25-$8.75, assuming no rate cuts and 18%-22% tax rate.

**【Q&A Key Highlights】**
- Upstart partnership: similar to other credit solutions, with 30-day loan maturity and indemnification.
- Early wage access loans: limited impact from government shutdown, but long-term growth expected via Intuit partnership.
- Share repurchase: targeting 80%-90% payout ratio in 2026.
- Nonperforming loans: 3 large, well-collateralized loans expected to resolve within 3-6 months.


Pathward Financial, Inc. (CASH) Q4 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

CASH

CASH fundamentals

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