Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A |
| Net Income | $24 | $36 | $38 | $40 | $41 |
Over the past five years, Unity Bancorp, Inc. has reported a consistent pattern of zero revenue, gross profit, and operating income, while net income has steadily increased from 23.644 million USD in 2020 to 41.45 million USD in 2024. The initial year-over-year jump from 2020 to 2021 represents an approximate 52.7% increase in net income—a significant spike that stands out against the more modest subsequent growth rates of roughly 6.5% from 2021 to 2022, 3.4% from 2022 to 2023, and about 4% from 2023 to 2024. This concentrated growth in net income, despite the absence of corresponding revenue or operating income figures, suggests that the gains could be driven by non-operating factors or other components on the income statement that are improving over time. In the context of the financial industry—where operational metrics such as revenue generation and expense management play a key role—the reliance on net income as the sole indicator of performance warrants careful consideration. While the upward trend in net income is a positive signal regarding bottom-line results, the lack of transparency around revenue and operating performance indicates that further analysis is needed to fully understand the drivers behind profitability. The sizeable increase in net income from 2020 to 2021 might reflect unique market conditions or one-time events that boosted returns, but the subsequent steady growth appears more sustainable. Overall, based solely on these provided figures, Unity Bancorp's financial health seems stable, yet the absence of detailed operational data limits a comprehensive assessment of its underlying business sustainability.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.