Filing Flows › Alset (AEI) › Q3 2025
Alset (AEI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 14, 2025
Alset (AEI) reported revenue of $999K for the third quarter 2025 (Q3 2025), -80% from a year earlier and -9% from the quarter before. Operating margin was -258.2%, net earnings $2.0M (196.6% of revenue).
Alset, Q3 2025: revenue $999K (-80% year over year), operating margin -258.2%, net earnings $2.0M, operating cash flow $883K. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $999K | -9% | -80% |
| Operating profit | −$2.6M | — | — |
| Net earnings | $2.0M | — | — |
| Operating cash flow | $883K | — | — |
| Free cash flow | $822K | — | — |
What changed
Revenue was $1.0M in Q3 2025, down 80% year over year and down 9% from the previous quarter. Rental was the largest line at 69% of revenue. Other lost $115K year over year (down 27%), 3% of the total change.
Gross margin was 24.3%, down 16.3 points from a year earlier. Operating costs exceeded revenue by $2.6M, an operating margin of -258.2%. Operating expenses fell 5% while revenue fell 80%. Net earnings were $1.5M, down 12% year over year. The effective tax rate was 0.2%. Non-operating items added $4.5M, 231% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $883K, 45% of net income including minority interests. Non-cash charges added back $317K of depreciation. Working capital and other items used $1.4M. Capital expenditures of $61K left free cash flow of $822K.
Questions
What was Alset's revenue in the third quarter 2025?
Alset (AEI) reported revenue of $999K for the third quarter 2025 (Q3 2025), -80% from a year earlier and -9% from the quarter before.
Was Alset profitable in the third quarter 2025?
Operating loss was $2.6M (-258.2% of revenue) and net earnings $2.0M.
Source: Alset 10-Q on SEC EDGAR.