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Annual report 2025
added 03-16-2026

First Foundation Income Statement 2025-2011 | FFWM

Brief overview of revenue and earnings at First Foundation

The comparison covers a five-year financial horizon. According to figures from First Foundation, revenue changed from $29.5 million to $34.4 million over five years. Across the full period, sales moved by +16.7%; the average annual rate was 3.1%. The scale of the core business was largely unchanged.

Net income moved from $22.4 million at the start to −$8 million at the end. Profit turned into a loss, the most concerning signal in the results.

The five-year change in capitalization reached −47.2%: from 883 million dollars to 466 million dollars. The market is not yet fully reflecting the fundamental progress.

Financial takeaway

Signs of deterioration dominate the five-year picture. The main areas of concern are a weaker market valuation, a weaker final result and a softer top-line trend. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.

Annual Income Statement First Foundation

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011

Market Cap

466 M 371 M 418 M 855 M 1.18 B 883 M 757 M 604 M 662 M 466 M 249 M 138 M - - -

Shares

82.5 M 65.6 M 56.4 M 56.4 M 45.3 M 44.6 M 44.6 M 42.1 M 34.5 M 32.4 M 22.3 M 15.5 M - - -

Historical Prices

5.65 5.65 7.4 15.2 26 19.8 15.8 13.8 18.5 13.8 10.6 8.46 - - -

Net Income

-8.04 M -14.1 M 2.55 M 17.4 M 23.9 M 22.4 M 56.2 M 43 M 27.6 M 23.3 M 13.4 M 8.39 M 7.85 M 5.8 M -

Revenue

34.4 M 36.2 M 35.3 M 38.8 M 36 M 29.5 M 194 M 176 M 152 M 124 M 87 M 67.6 M 55.5 M 44.3 M -

Cost of Revenue

96.7 M 83.9 M 84.3 M 110 M 87.9 M 73.9 M 69.9 M 67.5 M 56.6 M 48.6 M 40.5 M 33.6 M 28.8 M 23.3 M -

Interest Expense

39.4 M 51.3 M 42.5 M 51.3 M 2.73 M 6.22 M 78.8 M 51.7 M 23.2 M 11.2 M 6.28 M 4.58 M 3.51 M 3.14 M -

EBITDA

4.37 M 4.76 M 4.43 M 4.04 M 3.32 M 3.2 M - - - - - - - - -

Operating Expenses

- - - - - - 211 M 183 M 125 M 97 M 70 M 57 M 50 M - -

General and Administrative Expenses

- - - - - - 69.9 M 67.5 M 56.6 M 48.6 M 40.5 M 33.6 M 28.8 M 23.3 M -

All numbers in USD currency

Quarterly Income Statement First Foundation

2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

Shares

82.4 M 82.4 M 82.4 M 82.4 M 67 M 56.5 M 56.5 M 56.5 M 56.4 M 56.4 M 56.4 M - 56.4 M 56.5 M 56.5 M - 44.8 M 44.8 M 44.7 M - 44.6 M 44.6 M 44.7 M 44.7 M 44.6 M 44.6 M 44.5 M 44.5 M 44.4 M 40.8 M 38.6 M 38.2 M 34.6 M 33.6 M 32.8 M 32.7 M 32.5 M 32.3 M 32 M 32 M 12.6 M 8.07 M 7.86 M 7.85 M 7.74 M 7.73 M 7.73 M 7.73 M 7.41 M 7.41 M 7.38 M - - - - - - - -

Net Income

-146 M -7.69 M 6.9 M - -82.2 M 3.08 M 793 K - 2.18 M -212 M 8.5 M - 29 M 33.3 M 30.8 M 23.9 M 37.2 M 26.1 M 22.4 M 22.4 M 30.9 M 17.9 M 13.2 M 15.2 M 17.4 M 12.4 M 11.3 M 14.1 M 14.7 M 5.15 M 8.98 M 2.27 M 9.58 M 9.62 M 6.11 M 6.52 M 9.68 M 3.32 M 3.79 M 5.05 M 2.76 M 2.94 M 2.63 M 3.01 M 2.66 M 1.27 M 1.46 M 3.49 M 1.45 M 1.85 M 1.06 M 2.74 M 988 K 1 M 1.08 M - - - -

Revenue

8.64 M 8.6 M 8.92 M - 9.16 M 9.18 M 8.61 M - 8.81 M 9.02 M 8.8 M - 8.98 M 9.89 M 10.2 M - 9.31 M 8.75 M 8.35 M - 7.37 M 6.73 M 7.76 M - 7.3 M 7.14 M 6.79 M - 7.23 M 7.09 M 7.18 M - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Cost of Revenue

23.7 M 22.9 M 25.1 M - 20 M 19.1 M 19.4 M - 19.6 M 21 M 25.3 M - 29.5 M 27.6 M 29.8 M - 23.2 M 20.2 M 21.5 M - 17.9 M 18.3 M 19.9 M - 17.2 M 17.3 M 18.9 M - 17.6 M 16.6 M 17.2 M - 14.1 M 14 M 14.8 M - 12.1 M 11.9 M 12.7 M - 10.9 M 9.39 M 9.18 M - 8.76 M 8.03 M 8.48 M - 7.17 M 7.01 M 7.25 M - - - - - - - -

Interest Expense

46.1 M 50.1 M 51.8 M - 49.1 M 43.8 M 38.4 M - 52.1 M 49 M 78.2 M - 21.1 M 8.17 M 4.65 M 2.73 M 2.8 M 3.49 M 4.91 M 6.22 M 10.1 M 13.5 M 17.5 M 18.4 M 19.5 M 21.4 M 19.5 M 16.1 M 14.3 M 12.2 M 9.05 M 6.69 M 6.44 M 5.76 M 4.3 M 3.36 M 2.84 M 2.65 M 2.34 M 1.78 M 1.65 M 1.57 M 1.29 M 1.31 M 1.24 M 1.12 M 925 K 947 K 886 K 862 K 812 K 845 K 835 K 740 K 725 K - - - -

EBITDA

- - 1.12 M - - - 1.19 M - - - 1.1 M - 3.06 M 2.02 M 974 K - 2.48 M 1.66 M 823 K - 2.37 M 1.55 M 763 K - 2.26 M 1.48 M 738 K - 2.08 M 1.32 M 664 K - 1.76 M 1.16 M 553 K - 1.34 M 854 K 396 K - 995 K 650 K 326 K - 949 K 648 K 328 K - 721 K 449 K 210 K - - - - - - - -

Operating Expenses

- - - - - - - - 64.2 M 57.5 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

All numbers in USD currency

The income statement is one of the three key financial reports of a company First Foundation (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:

  • How much revenue the company earned
  • How much it spent on production, personnel, marketing, taxes, etc.
  • What profit remained in the end

Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.

Features
  • The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
  • Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
  • A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.

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