ARROW FINANCIAL CORP (AROW) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	217.6M	242.6M	223.1M	191.7M	160.5M
Cost of Revenue	56.7M	84.3M	88.4M	61.1M	16.1M
Gross Profit	92.8M	158.3M	134.6M	130.6M	144.4M
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	66.2M	84.8M	56.7M	50.9M	49.4M
General & Admin Expense	66.2M	84.8M	55.5M	49.7M	48.2M
Selling & Marketing Expense	—	—	1.3M	1.2M	1.2M
Other Expenses	8.9M	18.1M	40.5M	42.2M	32.2M
Total Operating Expenses	75.1M	102.9M	97.3M	93.0M	81.5M
Cost and Expenses	131.8M	187.2M	185.7M	154.2M	97.6M
Operating Income (EBIT)	19.8M	55.4M	37.4M	37.5M	62.9M
Non-Operating
Interest Income	54.6M	210.1M	195.0M	162.6M	129.7M
Interest Expense	74.2M	77.0M	83.3M	57.7M	11.3M
Net Interest Income	(207.0K)	133.2M	111.7M	104.8M	118.3M
Other Non-Op Income/Expense	35.0M	—	—	—	—
Non-Operating Income (excl Interest)	—	—	—	—	—
EBT (Pre-Tax Income)	54.9M	55.4M	37.4M	37.5M	62.9M
Income Tax Expense	10.7M	11.4M	7.6M	7.4M	14.1M
Bottom Line
Net Income	44.2M	44.0M	29.7M	30.1M	48.8M
Earnings from Cont. Ops	44.2M	44.0M	29.7M	30.1M	48.8M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	44.2M	44.0M	29.7M	30.1M	48.8M
Per Share
Basic EPS	$2.65	$2.66	$1.78	$1.77	$2.87
Diluted EPS	$2.65	$2.65	$1.77	$1.77	$2.86
Revenue Per Share	$11.81	$14.70	$13.33	$11.25	$9.44
Shares
Basic Shares Outstanding	18.4M	16.5M	16.7M	17.0M	17.0M
Diluted Shares Outstanding	18.5M	16.5M	16.7M	17.0M	17.1M
Profitability Metrics
EBITDA	23.7M	60.8M	42.7M	44.2M	70.5M
D&A	3.9M	5.4M	5.4M	6.7M	7.5M
EBIT	17.7M	55.4M	37.4M	37.5M	62.9M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Sep 1, 2026