NATIONAL RESEARCH CORP
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
NRC$26.85+0.7%Stored close · as of Nov 10, 2026
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Item 1. Condensed Consolidated Statements of Income
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except for per share amounts, unaudited)
| Three months ended September 30, | Nine months ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | $34,608 | $35,819 | $102,196 | $106,154 |
| Operating expenses: | ||||
| Direct | 12,404 | 15,305 | 38,436 | 42,583 |
| Selling, general and administrative | 12,271 | 10,988 | 40,360 | 33,459 |
| Depreciation and amortization | 2,195 | 1,546 | 5,479 | 4,506 |
| Total operating expenses | 26,870 | 27,839 | 84,275 | 80,548 |
| Operating income | 7,738 | 7,980 | 17,921 | 25,606 |
| Other income (expense): | ||||
| Interest income | 41 | 34 | 82 | 103 |
| Interest expense | (1,461) | (706) | (3,393) | (1,866) |
| Other, net | (45) | (12) | (34) | (28) |
| Total other expense | (1,465) | (684) | (3,345) | (1,791) |
| Income before income taxes | 6,273 | 7,296 | 14,576 | 23,815 |
| Provision for income taxes | 2,151 | 1,608 | 4,774 | 5,592 |
| Net income | $4,122 | $5,688 | $9,802 | $18,223 |
| Earnings per share of common stock: | ||||
| Basic | $0.18 | $0.24 | $0.43 | $0.76 |
| Diluted | $0.18 | $0.24 | $0.43 | $0.76 |
| Weighted average shares and share equivalents outstanding: | ||||
| Basic | 22,130 | 23,721 | 22,584 | 23,820 |
| Diluted | 22,130 | 23,745 | 22,590 | 23,868 |
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