The following are recent financial reports as posted by selected Utah corporations:
Extra Space Storage
Extra Space Storage Inc., based in Salt Lake City, reported net income attributable to common shareholders of $270.9 million, or $1.28 per share, for the first quarter ended March 31. That compares with $213.1 million, or $1.01 per share, for the same quarter a year earlier.
Funds from operations attributable to common stockholders and unit holders totaled $428.1 million, or $1.93 per share. That compares with $415.6 million, or $1.87 per share, for the year-earlier quarter.
Revenues in the most recent quarter totaled $820 million, up from $799.5 million in the year-earlier quarter.
Extra Space Storage is a real estate investment trust that owns and/or operates 4,099 self-storage stores in 43 states and Washington, D.C. It is the largest operator of self-storage properties in the United States.
“We had a solid first quarter, beating same-store revenue expectations, maintaining historically high occupancy, and continuing to grow our capital light ancillary businesses. This led to FFO growth above our internal projections,” Joe Margolis, CEO, said in announcing the results.
“Despite this level of performance, the recent economic uncertainty has caused us to maintain our same-store guidance. While the current environment is volatile and may lead to difficult economic times, our team, strategy and systems have proven the ability to produce stable cash flow returns in similar conditions.”
Beyond Inc.
Beyond Inc., based in Murray, reported a net loss of $39.9 million, or 74 cents per share, for the first quarter ended March 31. That compares with a loss of $73.9 million, or $1.62 per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $231.8 million, down from $382.3 million in the year-earlier quarter.
Beyond is the owner of Bed Bath & Beyond, Overstock and Buybuy Baby and a blockchain asset portfolio.
“Our first-quarter results illustrate our team’s progress against the mandate to return to profitability, including margin optimization, SKU rationalization and fixed-cost restructuring,” Marcus Lemonis, executive chairman and principal executive officer, said in announcing the results.
“The consistency we saw in the final weeks of the quarter through today in sales performance and marketing efficiency marks a tipping point. Coming out of the restructuring, we have a clear understanding of our levers to break even and generate a profit. With a newly right-sized cost structure, we believe we are within 60 days of transitioning to a revenue and gross profit growth playbook.”
Waystar
Waystar Holding Corp., based in Lehi and Louisville, Kentucky, reported net income of $29.3 million, or 16 cents per share, for the first quarter ended March 31. That compares with a net loss of $15.9 million, or 13 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $256.4 million, up from $224.8 million in the year-earlier quarter.
Waystar provides health care payment software.
“Waystar sustained strong momentum in the first quarter of 2025, delivering net income margins exceeding 10 percent, adjusted EBITDA margins exceeding 40 percent, and our fourth consecutive quarter of double-digit revenue growth as a public company,” Matt Hawkins, CEO, said in announcing the results.
“We also advanced our innovation roadmap with the launch of Waystar AltitudeAI, equipping clients with powerful AI capabilities that streamline workflows and improve financial performance. With a resilient foundation and durable growth model, we have the visibility and confidence to raise our full-year revenue and adjusted EBITDA guidance.”
Medallion Bank
Medallion Bank, based in Salt Lake City, reported net income of $15.6 million for the first quarter ended March 31. That compares with $14.5 million for the same quarter a year earlier.
Net interest income in the most recent quarter totaled $52.2 million, compared to $48.2 million in the prior-year quarter.
The bank provides consumer loans for the purchase of recreational vehicles, boats and home improvements, along with loan origination services to fintech strategic partners. It is a wholly owned subsidiary of Medallion Financial Corp.
“Our performance was strong in the first quarter,” Donald Poulton, president and CEO, said in announcing the results. “Our earnings were $15.6 million, which was 8 percent higher than the prior-year quarter and in line with the fourth quarter 2024. Economic uncertainty reduced demand in both recreation and home improvement lending, while strategic partnership volumes grew to $136 million from $124 million in the fourth quarter as those relationships continued to mature.
“Charge-offs and delinquencies were down from their year-end peaks, but given recent market volatility, and potential tariff and economic changes, we added qualitative factors to our reserve that increased credit loss provisions. Following the end of the quarter, we completed an initial sale of $53 million in recreation loans at a premium to par value. We were pleased with the execution of this sale and continue to monitor the market for potential loan sale opportunities. Overall, we view the quarter as a good mix of conservative origination volume and improving credit performance to start 2025.”
FinWise
FinWise Bancorp, based in Murray, reported net income of $3.2 million, or 23 cents per share, for the first quarter ended March 31. That compares with $3.3 million, or 25 cents per share, for the same quarter a year earlier.
Net interest income in the most recent quarter totaled $14.3 million, compared to $14 million in the prior-year quarter.
FinWise is the parent company of FinWise Bank.
“Our business model remained resilient in the first quarter, even amidst a more uncertain macro environment,” Kent Landvatter, chairman and CEO, said in announcing the results. “We posted solid loan originations and encouraging credit quality metrics, as both non-performing loan balances and net charge-offs declined sequentially. Furthermore, we continued to migrate our loan portfolio to a lower risk profile while still growing profitably and increasing tangible book value.
“Subsequent to the end of the first quarter, we also announced a new strategic program agreement where FinWise will provide both lending and our Credit Enhanced Balance Sheet product. While we will continue to closely monitor the economic environment, we remain excited about the outlook for our business and will maintain our focus on executing our business strategy to continue to position the company for long-term growth and shareholder value creation.”