Revenue: 11,010,000; YoY +107.70%; QoQ +76.75%; Gross Profit: 6,274,000; YoY +18.36%; QoQ +0.72%; Operating Income: 10,924,000; YoY +4,608.62%; QoQ +1,183.67%; Net Income: 1,219,000; YoY +558.92%; QoQ +92.58%; EPS: 0.38; YoY +558.58%; QoQ +90.00%; Gross Margin: 0.569,8; Operating Margin: 0.992; Net Margin: 0.111; Revenue mix and profitability signals: The company reports an exceptionally high operating income margin (approximately 99.22%), reflecting a strong operating base on revenue; however, the substantial negative total other income/expenses (-9,242,000) drives net income to a modest level and explains the wide gap between operating and net results. The net income margin (~11.07%) aligns with a small-cap regional bank profile where non-interest income and non-operating items can materially swing quarterly results. Basic and diluted EPS: 0.38 on ~3.23 million weighted shares.
Balance Sheet Strength and Leverage: Total assets 885.15 million; total liabilities 809.21 million; total stockholders’ equity 75.94 million; cash and cash equivalents 6.16 million; short-term investments 182.89 million; long-term investments 647.66 million. Debt profile shows short-term debt 18.44 million and long-term debt 98.99 million. Net debt stands at 111.28 million. Liquidity ratios presented as current and quick ratios of 87.48 appear anomalously high (likely reflecting treatment of securities holdings and cash equivalents in current assets); nonetheless, the balance sheet demonstrates significant liquid and marketable securities buffers contrasted with a sizable investment securities portfolio. Free cash flow for QQ2 2025 was negative (-226,000), with operating cash flow also negative (-155,000) but investing activities contributing positive cash (2.83 million) and financing activities consuming cash (-4.55 million).
Capital Efficiency and Returns: Return on assets ~0.14% and return on equity ~1.61% indicate the bank is generating modest earnings relative to asset and equity bases. The company’s price-to-book around 0.99x and price-to-earnings around 15.4x place IROQ near book value with a reasonable earnings multiple for a small regional bank with a high liquidity buffer and investment securities footprint.