UNTY

MKT CAP:$525M

Unity Bancorp, Inc.

Market Cap

$525M

Financial Services·Banks - Regional·🇺🇸 United States·NASDAQ

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$53.28+$2.20 (+4.31%)

Apr 22, 2026

Company Details

Unity Bancorp, Inc. operates as the holding company for Unity Bank that provides commercial and retail banking products and services to individuals, small and medium sized businesses, and professional communities. The company offers persona...

CEO

James A. Hughes

IPO Date

Jan 14, 1997

Website

www.unitybank.com

Key Metrics TTM

Revenue

$211M

+26.6% YoY

Net Income

$61M

EPS (Diluted)

$5.94

Free Cash Flow

$43M

Revenue / Share

$20.69

Gross Margin

63.7%

Operating Margin

38.1%

Net Margin

28.7%

FCF Margin

20.6%

P/S

2.5x

P/E

8.7x

Earnings Reports

Q1 2026

Apr 14, 2026

NEW

$48M+12.0%EPS $1.40

FY 2025

Mar 4, 2026

$188M+15.5%EPS $5.67

Q4 2025

Mar 4, 2026

$50M+18.5%EPS $1.52

Q3 2025

Nov 6, 2025

$63M+49.7%EPS $1.41

Q2 2025

Aug 6, 2025

$50M+26.5%EPS $1.61

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$26M	$23M	$13M
Q3 22	$27M	$23M	$13M
Q4 22	$32M	$25M	$14M
Q1 23	$35M	$25M	$14M
Q2 23	$37M	$25M	$13M
Q3 23	$39M	$25M	$13M
Q4 23	$40M	$24M	$13M
Q1 24	$40M	$25M	$13M
Q2 24	$40M	$24M	$13M
Q3 24	$42M	$26M	$15M
Q4 24	$42M	$27M	$14M
Q1 25	$43M	$28M	$15M
Q2 25	$50M	$34M	$22M
Q3 25	$63M	$32M	$20M
Q4 25	$50M	$35M	$20M
Q1 26	$48M	$33M	$19M

Valuation

Quarter	P/S	P/E
Q2 22	2.9x	7.5x
Q3 22	2.7x	7.0x
Q4 22	2.6x	7.2x
Q1 23	1.9x	5.9x
Q2 23	1.8x	6.0x
Q3 23	1.7x	5.9x
Q4 23	1.9x	7.3x
Q1 24	1.8x	7.1x
Q2 24	1.8x	7.4x
Q3 24	2.1x	8.6x
Q4 24	2.7x	10.5x
Q1 25	2.4x	9.4x
Q2 25	2.7x	9.4x
Q3 25	2.5x	9.1x
Q4 25	2.5x	9.0x
Q1 26	2.4x	8.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$20M	$20M
Q2 22	-$8M	-$8M
Q3 22	-$2M	-$2M
Q4 22	$44M	$43M
Q1 23	$14M	$14M
Q2 23	-$5M	-$5M
Q3 23	$13M	$13M
Q4 23	$25M	$25M
Q1 24	$16M	$16M
Q2 24	-$8M	-$9M
Q3 24	$18M	$18M
Q4 24	$23M	$23M
Q1 25	$18M	$18M
Q2 25	-$25M	-$26M
Q3 25	$46M	$45M
Q4 25	$7M	$6M

Capital Expenditures

Quarter	CapEx
Q1 22	$41.0K
Q2 22	$56.0K
Q3 22	$143.0K
Q4 22	$1M
Q1 23	$195.0K
Q2 23	$385.0K
Q3 23	$214.0K
Q4 23	$161.0K
Q1 24	$78.0K
Q2 24	$137.0K
Q3 24	$139.0K
Q4 24	$339.0K
Q1 25	$279.0K
Q2 25	$187.0K
Q3 25	$214.0K
Q4 25	$745.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+10.4%	+5.7%
Q3 22	+15.4%	+27.9%
Q4 22	+30.5%	+60.9%
Q1 23	+49.3%	+84.9%
Q2 23	+44.9%	+84.1%
Q3 23	+42.8%	+85.2%
Q4 23	+24.3%	+45.3%
Q1 24	+14.6%	+29.2%
Q2 24	+6.1%	+11.7%
Q3 24	+8.5%	+7.0%
Q4 24	+5.2%	+2.3%
Q1 25	+8.2%	+2.3%
Q2 25	+26.5%	+5.7%
Q3 25	+49.7%	+56.6%
Q4 25	+18.5%	+9.3%
Q1 26	+12.0%	+4.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$394.0K	1.7%
Q2 22	$439.0K	1.7%
Q3 22	$405.0K	1.5%
Q4 22	$442.0K	1.4%
Q1 23	$417.0K	1.2%
Q2 23	$423.0K	1.1%
Q3 23	$429.0K	1.1%
Q4 23	$482.0K	1.2%
Q1 24	$476.0K	1.2%
Q2 24	$450.0K	1.1%
Q3 24	$455.0K	1.1%
Q4 24	$442.0K	1.1%
Q1 25	$493.0K	1.1%
Q2 25	$536.0K	1.1%
Q3 25	$536.0K	0.9%
Q4 25	$527.0K	1.1%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$7M	$340.0K
Q3 22	$7M	$307.0K
Q4 22	$8M	$339.0K
Q1 23	$8M	$260.0K
Q2 23	$8M	$443.0K
Q3 23	$8M	$405.0K
Q4 23	$8M	$328.0K
Q1 24	$8M	$400.0K
Q2 24	$8M	$397.0K
Q3 24	$8M	$465.0K
Q4 24	$8M	$348.0K
Q1 25	$9M	$391.0K
Q2 25	$9M	$456.0K
Q3 25	$12M	$455.0K
Q4 25	$12M	$379.0K
Q1 26	$12M	$393.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$24M	$94M	$118M
Q3 22	$25M	$93M	$117M
Q4 22	$115M	$95M	$210M
Q1 23	$127M	$94M	$221M
Q2 23	$151M	$93M	$244M
Q3 23	$161M	$92M	$254M
Q4 23	$195M	$92M	$287M
Q1 24	$183M	$95M	$278M
Q2 24	$197M	$99M	$296M
Q3 24	$195M	$98M	$292M
Q4 24	$180M	$16M	$196M
Q1 25	$212M	$90M	$302M
Q2 25	$294M	$12M	$306M
Q3 25	$203M	$82M	$286M
Q4 25	$217M	$124M	$341M
Q1 26	$229M	$115M	$344M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	11M	+0.4%	+1.3%
Q3 22	11M	+0.1%	+2.0%
Q4 22	11M	+0.2%	+1.8%
Q1 23	11M	-0.5%	+0.2%
Q2 23	10M	-4.5%	-4.7%
Q3 23	10M	+0.5%	-4.3%
Q4 23	10M	-0.5%	-4.9%
Q1 24	10M	+0.7%	-3.8%
Q2 24	10M	-1.2%	-0.5%
Q3 24	10M	-0.0%	-1.1%
Q4 24	10M	+0.6%	-0.0%
Q1 25	10M	+0.4%	-0.3%
Q2 25	10M	-0.3%	+0.6%
Q3 25	10M	+0.2%	+0.8%
Q4 25	10M	-0.4%	-0.1%
Q1 26	10M	+0.0%	-0.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$124.0K	208
Q3 22	$130.7K	208
Q4 22	$143.4K	224
Q1 23	$154.4K	224
Q2 23	$166.9K	224
Q3 23	$173.3K	224
Q4 23	$175.9K	227
Q1 24	$174.7K	227
Q2 24	$174.8K	227
Q3 24	$185.6K	227
Q4 24	$190.9K	220
Q1 25	$195.0K	220
Q2 25	$228.1K	220
Q3 25	$286.6K	220
Q4 25	$226.2K	220
Q1 26	$218.4K	220

Revenue / Employee