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NEWTP

NewtekOne, Inc. Depositary Shares, Non-Cumulative Perpetual Preferred Stock, Series B

NEWTP

NewtekOne, Inc. Depositary Shares, Non-Cumulative Perpetual Preferred Stock, Series B • NASDAQ
$23.50 ▼ -0.80% (-0.19)
Market Cap $595.67 M
52w High $24.85
52w Low $22.98
Dividend Yield 0.24%
P/E 0
Volume 15.83K
Outstanding Shares 25.35M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $95.053M ▲ $37.73M ▼ $17.901M ▲ 18.833% ▲ $0.71 ▲ $25.195M ▲
Q2-2025 $88.365M ▲ $37.881M ▲ $13.703M ▲ 15.507% ▲ $0.53 ▲ $19.046M ▲
Q1-2025 $85.841M ▼ $36.73M ▼ $9.367M ▼ 10.912% ▼ $0.36 ▼ $11.795M ▼
Q4-2024 $92.9M ▲ $37.238M ▲ $18.324M ▲ 19.724% ▲ $0.68 ▲ $23.967M ▲
Q3-2024 $78.684M $34.409M $11.934M 15.167% $0.45 $17.574M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $210.203M ▲ $2.399B ▲ $2.012B ▲ $386.707M ▲
Q2-2025 $190.137M ▼ $2.126B ▼ $1.814B ▼ $312.18M ▲
Q1-2025 $269.983M ▼ $2.137B ▲ $1.834B ▲ $302.28M ▲
Q4-2024 $353.148M ▲ $2.06B ▲ $1.764B ▲ $296.282M ▲
Q3-2024 $162.493M $1.674B $1.392B $281.785M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $17.901M ▲ $7.596M ▲ $-244.714M ▼ $240.76M ▲ $3.642M ▲ $-167.318M ▲
Q2-2025 $13.703M ▲ $-199.814M ▼ $-44.831M ▲ $163.8M ▲ $-80.845M ▲ $-199.868M ▼
Q1-2025 $9.367M ▼ $-60.704M ▲ $-79.245M ▲ $52.709M ▼ $-87.24M ▼ $-60.741M ▲
Q4-2024 $18.324M ▲ $-91.595M ▼ $-86.218M ▼ $368.765M ▲ $190.952M ▲ $-91.659M ▼
Q3-2024 $11.934M $-25.668M $-25.07M $36.286M $-15.916M $-25.915M

Five-Year Company Overview

Income Statement

Income Statement NewtekOne has shown a clear pattern of revenue growth over the past several years, with profits generally moving in the right direction but not in a straight line. The business appears to have healthy underlying profitability for a financial services firm, with good margins between what it earns and what it spends to operate. However, bottom‑line earnings have flattened in the most recent years rather than continuing to climb, suggesting rising costs, credit provisions, or integration expenses are absorbing some of the growth. Earnings per share have also been somewhat volatile over time, which signals that results can swing from year to year and are sensitive to the broader small‑business environment and funding conditions.

Balance Sheet

Balance Sheet The balance sheet shows a company that has grown its asset base steadily, indicating expansion of its lending and service activities. Cash levels have improved meaningfully in the most recent period, providing a better liquidity cushion than in prior years when cash was very thin. At the same time, debt has crept up over several years, and shareholders’ equity has not grown as fast as total assets, which points to higher leverage. In plain terms, the company is larger and more liquid than before, but it is also more reliant on borrowed funds, which can amplify both gains and stresses in a downturn.

Cash Flow

Cash Flow Cash flow is a mixed picture. NewtekOne has reported negative operating and free cash flow in the last few years after earlier periods of positive inflows. For a financial firm, reported cash flows can be noisy because loan growth uses cash up front, but the pattern still signals that the company has been consuming cash to support growth or working‑capital needs rather than consistently generating it. With virtually no spending on physical assets, this isn’t about heavy equipment or property; it is more about how loans and funding are managed. Persistent negative operating cash flow would be a key area to watch, especially for holders of a preferred security like NEWTP, which depends on the company’s ongoing financial health to support distributions.

Competitive Edge

Competitive Edge NewtekOne operates in a focused niche: small and mid‑sized businesses that need an integrated bundle of banking, lending, payments, payroll, technology, and insurance solutions. Its competitive strength comes from offering all of this through a single, technology‑driven platform rather than a traditional branch network. The firm is a well‑established Small Business Administration (SBA) lender, which gives it credibility and specialized know‑how that are not easy to replicate. Its branchless, technology‑based customer acquisition model can keep costs lower than many conventional banks. On the other hand, the company is still small compared with major banks and fintechs, and it operates in a segment that is highly exposed to economic cycles. Its advantage relies on continuing to execute well on technology, partnerships, and credit quality.

Innovation and R&D

Innovation and R&D Innovation at NewtekOne is centered on software, data, and process automation rather than classic lab‑style research. The Newtek Advantage platform pulls together banking, lending, payments, payroll, technology services, and insurance into a single dashboard, which creates convenience for clients and makes it harder for them to switch away. The patented NewTracker® referral system and a largely automated, branchless approach help generate leads and lower customer‑acquisition costs. The company is layering in tools such as AI to read tax returns and automate workflows, and it is deepening integrations with widely used tools like QuickBooks. Future innovation efforts appear focused on expanding alternative lending programs, adding more third‑party software integrations, and potentially acquiring niche technology or service providers to broaden the platform.

Summary

Overall, NewtekOne looks like a growing, specialized financial‑technology player serving small and mid‑sized businesses, with an integrated platform and SBA expertise as key strengths. The income statement shows solid growth and healthy margins, but with earnings that have leveled off recently and can be volatile. The balance sheet reflects expansion and improved cash balances, offset by higher leverage. Cash flows have been negative in recent years, suggesting that growth and the structure of the lending book are consuming cash, which is an important risk factor to monitor. Competitively, the firm benefits from a differentiated, technology‑driven model and strong positioning in SBA and alternative lending, but remains sensitive to economic cycles and continued execution on credit and technology. For holders or prospective holders of the preferred shares (NEWTP), the story hinges on NewtekOne’s ability to sustain its niche advantages, manage credit risk, and translate its platform strategy into consistently healthy earnings and cash generation over time.