- Pathward Financial, Inc. (CASH, Financial) reported a significant increase in net income for Q2 2025, reaching $74.3 million, or $3.11 per share, compared to $65.3 million, or $2.56 per share, in Q2 2024.
- Total tax services product income grew by 29% to $47.6 million for the first six months of fiscal 2025, fueled by a successful tax season.
- Pathward repurchased 575,804 shares at an average price of $78.11 during the second quarter of 2025.
Pathward Financial, Inc. (CASH) announced its financial results for the fiscal second quarter of 2025, showcasing a robust performance. The company reported a net income of $74.3 million, equating to $3.11 per share. This reflects a notable improvement from the second quarter of 2024, when the firm reported a net income of $65.3 million, or $2.56 per share.
The second quarter of 2025 saw total revenue climb to $262.9 million, marking a $15.6 million increase, or 6%, compared to the same period last year. This growth was attributed to both net interest income and noninterest income. Notably, the net interest margin expanded by 27 basis points to 6.50% from 6.23% in the previous year, driven by an optimized earning asset mix, including improved yields and balances in the loan and lease portfolio.
Pathward's tax services segment showed strong growth, with product income rising 29% to $47.6 million, compared to $36.9 million in the prior year. This increase was primarily due to a 13% boost in independent tax office enrollments for the tax season. Furthermore, the company originated $1.66 billion in refund advance loans for the 2025 tax season, surpassing the $1.56 billion originated in 2024.
In terms of stock repurchase activities, Pathward bought back 575,804 shares of its common stock at an average price of $78.11 during Q2 2025, with 5,722,336 shares still available for repurchase under the current program.
Looking at regulatory capital, both Pathward and its subsidiary Pathward®, N.A. maintained their classification as well-capitalized, exceeding federal regulatory minimum capital requirements as of March 31, 2025.
