Triumph Financial (TFIN) Company Report

Triumph Financial (TFIN) is a financial and technology company focused on modernizing freight transactions, auditing approximately 65-70% of all invoices and paying half of them on behalf of freight brokers and shippers.
The company is undergoing a customer-centric reorganization to achieve cost efficiencies and aims for 20% top-line growth with flat to decreasing expenses, driven by its existing factoring, payments, and intelligence businesses.
TFIN does not intend to grow its balance sheet, views M&A as unlikely, and plans to accrete capital by focusing on internal product enhancement and revenue growth/expense management, even amidst a prolonged freight recession.

Nov 18, 2025, 9:00 PM

Triumph Financial Discusses Business Model, Growth Strategy, and Capital Allocation

TFIN

Revenue Acceleration/Inflection

New Projects/Investments

Demand Weakening

Triumph Financial (TFIN) operates as a financial and technology company, modernizing freight transactions by auditing and paying more truckers than any other entity globally, touching 70% of all transactions and paying half.
The company targets 20% top-line growth, with its intelligence and payments segments (payments grew 25%-30% last quarter) expected to exceed this, while the largest factoring business ($155 million last quarter) aims for low double-digit growth.
TFIN is implementing a customer-centric reorganization to achieve cost efficiencies and reduce expenses, with a goal of flat to decreasing expenses, demonstrating profitability despite the ongoing freight recession.
The company's capital strategy emphasizes not growing its balance sheet, avoiding shareholder dilution, and is unlikely to pursue M&A, instead focusing on accreting income back into capital to enhance capital ratios.
TFIN's core community bank provides stability, generating $110 million in operating income, which has helped the company navigate the longest freight recession since 1980.

Nov 18, 2025, 9:00 PM

TFIN Reports Q3 2025 Results, Emphasizing Revenue Growth and Margin Expansion

TFIN

Guidance Update

Revenue Acceleration/Inflection

Share Buyback

TFIN is committed to operating margin expansion and revenue growth, having cut 5% of its expense base with the majority of savings commencing in Q4 2025. The company expects expenses to be flat at the current level by Q3 2026 while revenue grows.
The company targets 20% annual growth in transportation revenue, implying roughly $50 million of growth in 2026 from the $240 million annualized transportation revenue in Q3 2025. This growth is expected across segments, including 20% growth in factoring and substantial growth from the Intelligence segment's $10 million run rate in 2026.
The Payments segment's LodePay, which doubled over last quarter, is evolving into a full-service banking account and business companion by 2026, with per-unit revenue expected to significantly increase from the current $750 per LinkedIn funded account.
Regarding the Tricolore credit, TFIN believes it remains adequately secured, with more information expected in three weeks based on the bankruptcy timeline, and liquidation potentially starting relatively soon.
TFIN has a new share buyback in place, which it intends to use with earnings as part of its overall capital planning strategy.

Oct 16, 2025, 2:30 PM

Triumph Financial Announces Q3 2025 Results and Leadership Appointments

TFIN

Earnings

Revenue Acceleration/Inflection

Management Change

Triumph (TFIN) reported a market capitalization of $1.1 billion as of October 13, 2025, with trailing twelve-month (TTM) revenue of $422 million and net income to common shareholders of $6.8 million as of September 30, 2025.
The company's Transportation Platform achieved positive operating income in Q3 2025, demonstrating a trailing 24-month revenue CAGR of 27.8% and an EBITDA Margin of 16.8%.
For Q3 2025, annualized revenues (excluding intracompany noninterest revenue) for its segments were $155 million for Payments, $73 million for Intelligence, and $9 million for Factoring, with the Payments segment showing 23.1% year-to-date revenue growth.
Kim Fisk was appointed President of Triumph Factoring, and Dawn Salvucci-Favier was appointed President of Triumph Intelligence.

Oct 16, 2025, 2:30 PM

Triumph Financial, Inc. Reports Q3 2025 Results with Strong Payments Segment Growth and Announces Share Repurchase Program

TFIN

Earnings

Share Buyback

Revenue Acceleration/Inflection

The Payments segment demonstrated significant improvement in Q3 2025, with revenue growing 7.4% quarter-over-quarter and its EBITDA margin improving to 16.8%, achieving positive pretax operating income for the first time. Total transportation revenue grew 3.7% quarter-over-quarter.
The company reduced total expenses by approximately 5% in Q3 2025 through efficiency efforts, with 90% of these savings now in the run rate for Q4, and projects Q4 expenses to be $96.5 million, which is 4.5% below adjusted Q2 2025 numbers.
The board authorized a $30 million share repurchase program on October 15, 2025, valid for up to one year, reflecting confidence in the company's intrinsic value.
Triumph Financial, Inc. expects its transportation revenue to grow 20% annually and plans to continue shrinking its non-transportation footprint.

Oct 15, 2025, 8:13 PM

Triumph Financial, Inc. Reports Q2 2025 Results and Litigation Settlement

TFIN

Earnings

Legal Proceedings

Revenue Acceleration/Inflection

Triumph Financial, Inc. reported net income to common stockholders of $3.6 million, or $0.15 per diluted share, for the second quarter of 2025.
The quarter's results include a significant non-core gain from the settlement of long-running litigation with the United States Postal Service (USPS), which had a net impact of $12.362 million on pre-tax operating income.
Transportation revenue grew 15.2% for the quarter, reaching an annualized $237 million (excluding the USPS settlement impact), with organic growth of 11.3%.
The company's LoadPay digital banking product continues to gain momentum, reaching 2,729 accounts as of July 14, 2025, and targeting 5,000 – 10,000 accounts by year-end.
The Payments segment's revenue grew 13.5% quarter-over-quarter to an annualized rate of $68.9 million, with an EBITDA margin of 13.9%. The Factoring segment's revenue grew 13.3% quarter-over-quarter, with an operating margin of 48.5%.