Announcement • Apr 07
Tompkins Financial Corporation, Annual General Meeting, May 19, 2026 Tompkins Financial Corporation, Annual General Meeting, May 19, 2026. Location: at the companys headquarters, located at 118 e., seneca street, ithaca United States Announcement • Nov 04
Arthur J. Gallagher & Co. (NYSE:AJG) acquired Tompkins Insurance Agencies, Inc. from Tompkins Financial Corporation (NYSEAM:TMP) for $183 million. Arthur J. Gallagher & Co. (NYSE:AJG) acquired Tompkins Insurance Agencies, Inc. from Tompkins Financial Corporation (NYSEAM:TMP) for $183 million on November 3, 2025. Under the agreement, Gallagher will acquire the stock of Tompkins Insurance Agencies for $183 million. Tompkins Insurance Agencies revenues and EBITDAC for the trailing 12 months ended June 30, 2025 were approximately $40 million and $16 million, respectively.
Arthur J. Gallagher & Co. (NYSE:AJG) completed the acquisition of Tompkins Insurance Agencies, Inc. from Tompkins Financial Corporation (NYSEAM:TMP) on November 3, 2025. Board Change • Aug 18
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Helen Eaton was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 03
Tompkins Financial Corporation, Annual General Meeting, May 13, 2025 Tompkins Financial Corporation, Annual General Meeting, May 13, 2025. Announcement • Jan 31
Tompkins Financial Corporation Approves Quarterly Cash Dividend, Payable on February 21, 2025 Tompkins Financial Corporation approved payment of a regular quarterly cash dividend of $0.62 per share, payable on February 21, 2025, to common shareholders of record on February 14, 2025. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to €71.50, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 12% over the past three years. Declared Dividend • Oct 28
Third quarter dividend of US$0.62 announced Shareholders will receive a dividend of US$0.62. Ex-date: 8th November 2024 Payment date: 15th November 2024 Dividend yield will be 4.2%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (52% payout ratio) and is expected to be covered in 3 years' time (41% forecast payout ratio). The dividend has increased by an average of 4.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 28% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: US$1.31 (vs US$2.35 loss in 3Q 2023) Third quarter 2024 results: EPS: US$1.31 (up from US$2.35 loss in 3Q 2023). Revenue: US$74.4m (up US$66.2m from 3Q 2023). Net income: US$18.6m (up US$52.0m from 3Q 2023). Profit margin: 25% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Oct 25
Tompkins Financial Corporation Approves Payment of A Regular Quarterly Cash Dividend, Payable on November 15, 2024 Tompkins Financial Corporation announced that its Board of Directors approved payment of a regular quarterly cash dividend of $0.62 per share, payable on November 15, 2024, to common shareholders of record on November 8, 2024. The dividend amount represents an increase of $0.01 per share, or 1.6% over the dividend paid in the third quarter of 2024, and an increase of $0.02 per share, or 3.3% over the dividend paid in the fourth quarter of 2023. Declared Dividend • Jul 29
Second quarter dividend of US$0.61 announced Shareholders will receive a dividend of US$0.61. Ex-date: 9th August 2024 Payment date: 16th August 2024 Dividend yield will be 4.0%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 4.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 168% to bring the payout ratio under control. EPS is expected to grow by 61% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Jul 27
Second quarter 2024 earnings released: EPS: US$1.10 (vs US$0.59 in 2Q 2023) Second quarter 2024 results: EPS: US$1.10 (up from US$0.59 in 2Q 2023). Revenue: US$70.6m (up 13% from 2Q 2023). Net income: US$15.7m (up 85% from 2Q 2023). Profit margin: 22% (up from 14% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. New Risk • Jul 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (490% payout ratio). Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (3.3% net profit margin). Announcement • Jul 26
Tompkins Financial Corporation Approves Quarterly Cash Dividend, Payable on August 16, 2024 Tompkins Financial Corporation announced that its board of directors approved payment of a regular quarterly cash dividend of $0.61 per share, payable on August 16, 2024, to common shareholders of record on August 9, 2024. Announcement • May 18
Tompkins Financial Corporation Approves the Election of Janet M. Coletti as Member of the Board of Directors On May 14, 2024, Tompkins Financial Corporation held its 2024 Annual Meeting of Shareholders. The shareholders approved the election ofJanet M. Coletti as members of the Board of Directors. Declared Dividend • Apr 29
First quarter dividend of US$0.61 announced Shareholders will receive a dividend of US$0.61. Ex-date: 9th May 2024 Payment date: 17th May 2024 Dividend yield will be 5.4%, which is higher than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 4.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 446% to bring the payout ratio under control. EPS is expected to grow by 73% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Apr 27
Tompkins Financial Corporation Approves Regular Quarterly Cash Dividend, Payable on May 17, 2024 Tompkins Financial Corporation announced that its Board of Directors approved payment of a regular quarterly cash dividend of $0.61 per share, payable on May 17, 2024, to common shareholders of record on May 10, 2024. The dividend amount represents an increase of $0.01 per share, or 1.6% over the dividend paid in thesecond quarter of 2023. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: US$1.19 (vs US$1.35 in 1Q 2023) First quarter 2024 results: EPS: US$1.19 (down from US$1.35 in 1Q 2023). Revenue: US$72.0m (down 4.7% from 1Q 2023). Net income: US$16.9m (down 13% from 1Q 2023). Profit margin: 23% (down from 26% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Banks industry in Europe. Announcement • Apr 03
Tompkins Financial Corporation, Annual General Meeting, May 14, 2024 Tompkins Financial Corporation, Annual General Meeting, May 14, 2024, at 10:00 Eastern Daylight. Location: the Company’s headquarters, located at 118 E. Seneca Street New York United States Agenda: To elect the twelve directors named in the accompanying proxy statement for a term of one year expiring in 2025; to conduct an advisory vote to approve, on a non-binding basis, the compensation paid to the Company’s named executive officers; to ratify the appointment of the independent registered public accounting firm, KPMG LLP, as the Company’s independent auditor for the fiscal year ending December 31, 2024; and to transact such other business as may properly come before the Annual Meeting or any adjournment thereof. Reported Earnings • Mar 04
Full year 2023 earnings released: EPS: US$0.66 (vs US$5.92 in FY 2022) Full year 2023 results: EPS: US$0.66 (down from US$5.92 in FY 2022). Revenue: US$215.4m (down 30% from FY 2022). Net income: US$9.46m (down 89% from FY 2022). Profit margin: 4.4% (down from 28% in FY 2022). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 2.84% (down from 3.05% in FY 2022). Cost-to-income ratio: 92.5% (up from 63.5% in FY 2022). Non-performing loans: 1.11% (up from 0.62% in FY 2022). Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Banks industry in Europe. Recent Insider Transactions • Feb 23
Independent Director recently bought €92k worth of stock On the 20th of February, Ita Rahilly bought around 2k shares on-market at roughly €46.64 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €317k more in shares than they have sold in the last 12 months. Declared Dividend • Feb 05
Fourth quarter dividend of US$0.60 announced Shareholders will receive a dividend of US$0.60. Ex-date: 8th February 2024 Payment date: 16th February 2024 Dividend yield will be 5.1%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is not covered by earnings (360% earnings payout ratio). However, the dividend is expected to be well covered in 3 years' time (49% forecast payout ratio). The dividend has increased by an average of 4.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 300% to bring the payout ratio under control. EPS is expected to grow by 165% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Jan 26
Full year 2023 earnings released: EPS: US$0.66 (vs US$5.92 in FY 2022) Full year 2023 results: EPS: US$0.66 (down from US$5.92 in FY 2022). Revenue: US$215.4m (down 30% from FY 2022). Net income: US$9.51m (down 89% from FY 2022). Profit margin: 4.4% (down from 28% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 2.0% growth forecast for the Banks industry in Europe. Announcement • Jan 26
Tompkins Financial Corporation Approves Payment of Regular Quarterly Cash Dividend, Payable on February 16, 2024 Tompkins Financial Corporation announced that its Board of Directors approved payment of a regular quarterly cash dividend of $0.60 per share, payable on February 16, 2024, to common shareholders of record on February 9, 2024. Reported Earnings • Oct 29
Third quarter 2023 earnings released: US$2.35 loss per share (vs US$1.49 profit in 3Q 2022) Third quarter 2023 results: US$2.35 loss per share (down from US$1.49 profit in 3Q 2022). Revenue: US$8.24m (down 89% from 3Q 2022). Net loss: US$33.4m (down 257% from profit in 3Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Banks industry in Europe. Announcement • Sep 19
Tompkins Financial Corporation Announces Executive Changes On September 13, 2023, Tompkins Financial Corporation appointed David Kershaw to the role of Principal Accounting Officer, effective October 1, 2023, in connection with the previously announced retirement of the Company’s current Principal Accounting Officer, Francis M. Fetsko. Mr. Kershaw will report to Matthew Tomazin who, as previously disclosed, was appointed Executive Vice President, Chief Financial Officer and Treasurer of the Company and Tompkins Community Bank, effective October 1, 2023. Mr. Kershaw, age 56, joined the Company and the Bank as Controller in April 2001 and has served as Senior Vice President and Chief Accounting Officer of the Company and the Bank since June 2012. Reported Earnings • Jul 21
Second quarter 2023 earnings released: EPS: US$0.59 (vs US$1.45 in 2Q 2022) Second quarter 2023 results: EPS: US$0.59 (down from US$1.45 in 2Q 2022). Revenue: US$62.3m (down 19% from 2Q 2022). Net income: US$8.48m (down 59% from 2Q 2022). Profit margin: 14% (down from 27% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.3% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Banks industry in Europe. Board Change • Jun 30
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 9 highly experienced directors. Independent Director Ita Rahilly was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Jun 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 10.0% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change). Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €55.50, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 7x in the Banks industry in Europe. Total loss to shareholders of 15% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €107 per share. Recent Insider Transactions • May 19
Independent Director recently bought €124k worth of stock On the 17th of May, John Alexander bought around 3k shares on-market at roughly €49.72 per share. This transaction amounted to 4.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €125k more in shares than they have sold in the last 12 months. Reported Earnings • Apr 30
First quarter 2023 earnings released: EPS: US$1.35 (vs US$1.61 in 1Q 2022) First quarter 2023 results: EPS: US$1.35 (down from US$1.61 in 1Q 2022). Revenue: US$75.5m (down 2.1% from 1Q 2022). Net income: US$19.4m (down 17% from 1Q 2022). Profit margin: 26% (down from 30% in 1Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 2.0% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Banks industry in Europe. Reported Earnings • Mar 07
Full year 2022 earnings released: EPS: US$5.92 (vs US$6.09 in FY 2021) Full year 2022 results: EPS: US$5.92 (down from US$6.09 in FY 2021). Revenue: US$305.5m (flat on FY 2021). Net income: US$84.8m (down 4.4% from FY 2021). Profit margin: 28% (down from 29% in FY 2021). Net interest margin (NIM): 3.05% (up from 2.96% in FY 2021). Cost-to-income ratio: 63.5% (up from 62.9% in FY 2021). Non-performing loans: 0.62% (up from 0.61% in FY 2021). Revenue is forecast to grow 3.0% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Banks industry in Europe. Announcement • Jan 28
Tompkins Financial Corporation Reports Cash Dividend, Payable on February 15, 2023 Tompkins Financial Corporation announced that its Board of Directors approved payment of a regular quarterly cash dividend of $0.60 per share, payable on February 15, 2023, to common shareholders of record on February 7, 2023. The dividend amount represents an increase of $0.03 per share, or 5.3% over the dividend paid in the first quarter of 2022. Reported Earnings • Jan 28
Full year 2022 earnings released: EPS: US$5.92 (vs US$6.09 in FY 2021) Full year 2022 results: EPS: US$5.92 (down from US$6.09 in FY 2021). Revenue: US$305.5m (flat on FY 2021). Net income: US$85.0m (down 4.1% from FY 2021). Profit margin: 28% (down from 29% in FY 2021). Revenue is forecast to grow 3.7% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Banks industry in Europe. Recent Insider Transactions • Nov 09
Executive Vice President recently sold €131k worth of stock On the 4th of November, Gregory Hartz sold around 2k shares on-market at roughly €82.98 per share. This transaction amounted to 4.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €226k more than they bought in the last 12 months. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: US$1.49 (vs US$1.46 in 3Q 2021) Third quarter 2022 results: EPS: US$1.49 (up from US$1.46 in 3Q 2021). Revenue: US$77.7m (flat on 3Q 2021). Net income: US$21.3m (flat on 3Q 2021). Profit margin: 27% (in line with 3Q 2021). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Banks industry in Europe. Announcement • Oct 29
Tompkins Financial Corporation Increases Quarterly Dividend, Payable on November 15, 2022 Tompkins Financial Corporation announced that its Board of Directors approved payment of a regular quarterly cash dividend of $0.60 per share, payable on November 15, 2022, to common shareholders of record on November 8, 2022. The dividend amount represents an increase of $0.03 per share, or 5.3% over the dividend paid in the third quarter of 2022. Recent Insider Transactions • Aug 23
Executive VP recently sold €62k worth of stock On the 19th of August, Francis Fetsko sold around 805 shares on-market at roughly €77.59 per share. This was the largest sale by an insider in the last 3 months. This was Francis' only on-market trade for the last 12 months. Reported Earnings • Jul 23
Second quarter 2022 earnings released: EPS: US$1.45 (vs US$1.55 in 2Q 2021) Second quarter 2022 results: EPS: US$1.45 (down from US$1.55 in 2Q 2021). Revenue: US$76.4m (flat on 2Q 2021). Net income: US$20.9m (down 7.9% from 2Q 2021). Profit margin: 27% (down from 30% in 2Q 2021). Over the next year, revenue is forecast to grow 2.1%, compared to a 14% growth forecast for the industry in Germany. Announcement • Jul 23
Tompkins Financial Corporation Approves Payment of Regular Quarterly Cash Dividend, Payable on August 12, 2022 Tompkins Financial Corporation announced that its Board of Directors approved payment of a regular quarterly cash dividend of $0.57 per share, payable on August 12, 2022, to common shareholders of record on August 2, 2022. Recent Insider Transactions • May 27
Insider recently bought €94k worth of stock On the 25th of May, Ita Rahilly bought around 1k shares on-market at roughly €69.12 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €351k more in shares than they bought in the last 12 months. Announcement • May 02
Tompkins Financial Corporation Announces Regular Quarterly Cash Dividend, Payable on May 16, 2022 Tompkins Financial Corporation announced that its Board of Directors approved payment of a regular quarterly cash dividend of $0.57 per share, payable on May 16, 2022, to common shareholders of record on May 10, 2022. Reported Earnings • May 01
First quarter 2022 earnings released: EPS: US$1.62 (vs US$1.73 in 1Q 2021) First quarter 2022 results: EPS: US$1.62 (down from US$1.73 in 1Q 2021). Revenue: US$77.1m (flat on 1Q 2021). Net income: US$23.3m (down 8.5% from 1Q 2021). Profit margin: 30% (down from 33% in 1Q 2021). Over the next year, revenue is forecast to stay flat compared to a 9.0% growth forecast for the industry in Germany. Announcement • Mar 31
Tompkins Financial Corporation, Annual General Meeting, May 10, 2022 Tompkins Financial Corporation, Annual General Meeting, May 10, 2022, at 17:30 US Eastern Standard Time. Location: 118 E. Seneca Street Ithaca New York United States Agenda: To elect thirteen directors for a term of one year expiring in 2023; To conduct an advisory vote to approve, on a non-binding basis, the compensation paid to the Company’s named executive officers; To ratify the appointment of the independent registered public accounting firm, KPMG LLP, as the Company’s independent auditor for the fiscal year ending December 31, 2022; and To transact such other business as may properly come before the Annual Meeting or any adjournment thereof. Reported Earnings • Mar 04
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$6.09 (up from US$5.22 in FY 2020). Revenue: US$304.9m (up 8.1% from FY 2020). Net income: US$88.6m (up 16% from FY 2020). Profit margin: 29% (up from 27% in FY 2020). The increase in margin was driven by higher revenue. Net interest margin (NIM): 2.96% (down from 3.31% in FY 2020). Cost-to-income ratio: 62.9% (up from 61.6% in FY 2020). Non-performing loans: 0.61% (down from 0.87% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to stay flat compared to a 9.3% growth forecast for the banks industry in Germany. Reported Earnings • Jan 30
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$6.08 (up from US$5.22 in FY 2020). Revenue: US$304.9m (up 7.7% from FY 2020). Net income: US$89.3m (up 16% from FY 2020). Profit margin: 29% (up from 27% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to stay flat compared to a 11% growth forecast for the banks industry in Germany. Recent Insider Transactions • Nov 10
Insider recently sold €71k worth of stock On the 4th of November, Gerald Klein sold around 998 shares on-market at roughly €71.09 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €219k more than they bought in the last 12 months. Upcoming Dividend • Oct 25
Upcoming dividend of US$0.57 per share Eligible shareholders must have bought the stock before 01 November 2021. Payment date: 15 November 2021. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (3.2%). In line with average of industry peers (2.9%). Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS US$1.46 (vs US$1.63 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: US$78.2m (up 1.6% from 3Q 2020). Net income: US$21.3m (down 11% from 3Q 2020). Profit margin: 27% (down from 31% in 3Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Jul 24
Second quarter 2021 earnings released: EPS US$1.55 (vs US$1.44 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$76.8m (up 3.9% from 2Q 2020). Net income: US$22.8m (up 7.8% from 2Q 2020). Profit margin: 30% (up from 29% in 2Q 2020). The increase in margin was driven by higher revenue. Recent Insider Transactions • Jun 02
President recently sold €189k worth of stock On the 28th of May, Stephen Romaine sold around 3k shares on-market at roughly €66.77 per share. This was the largest sale by an insider in the last 3 months. This was Stephen's only on-market trade for the last 12 months. Reported Earnings • May 06
First quarter 2021 earnings released: EPS US$1.75 (vs US$0.53 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$77.5m (up 39% from 1Q 2020). Net income: US$25.6m (up 226% from 1Q 2020). Profit margin: 33% (up from 14% in 1Q 2020). The increase in margin was driven by higher revenue. 
