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Nelnet
Nelnet (NNI) investor relations material
Nelnet Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary26 Feb, 2026
Executive summary
Reported GAAP net income of $57.8 million ($1.60/share) for Q4 2025, down from $63.2 million ($1.73/share) year-over-year.
Net income excluding derivative market value adjustments was $56.3 million ($1.56/share), up from $52.7 million ($1.44/share) year-over-year.
Full-year 2025 GAAP net income was $428.5 million ($11.79/share), up from $184.0 million ($5.02/share) in 2024.
All core business segments—consumer lending, loan servicing, payments, and technology—reported solid performance.
Financial highlights
Q4 2025 net interest income was $107.1 million, up from $80.1 million in Q4 2024.
Q4 2025 total revenue from loan servicing and systems was $116.6 million, down from $138.0 million year-over-year.
Education Technology Services and Payments revenue for Q4 2025 was $112.3 million, up from $108.3 million year-over-year.
Q4 2025 provision for loan losses increased to $38.1 million from $22.1 million year-over-year.
Q4 2025 net income after tax for AGM was $24.8 million (down from $25.5 million), and for Nelnet Bank was $5.3 million (up from $4.2 million).
Outlook and guidance
Management sees opportunities ahead in 2026, driven by continued investments in technology and new/existing products and services.
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Latest events from Nelnet
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- Q2 2025 net income soared on ALLO gain; new law boosts loans but cuts solar incentives.NNIQ2 20256 Aug 2025
- Q3 profit fell on non-cash charges and lower revenue; education tech and payments grew.NNIQ3 202413 Jun 2025
- Q2 net income surged 65% year-over-year, led by education tech growth and strategic focus.NNIQ2 202413 Jun 2025
- Q1 2025 net income rose 13% year-over-year; $175M ALLO gain expected in Q2.NNIQ1 20256 Jun 2025
- Q4 2024 net income surged, driven by diversified growth and major contract wins.NNIQ4 20245 Jun 2025
Next Nelnet earnings date
Q1 20268 May, 2026
Nelnet
Next Nelnet earnings date
Q1 20268 May, 2026
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