Filing Flows › Atlas Energy Solutions (AESI) › Q3 2025
Atlas Energy Solutions (AESI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Atlas Energy Solutions (AESI) reported revenue of $260M for the third quarter 2025 (Q3 2025), -15% from a year earlier and -10% from the quarter before. Operating margin was -7.1%, net loss $23.7M (9.1% of revenue).
Atlas Energy Solutions, Q3 2025: revenue $260M (-15% year over year), operating margin -7.1%, net loss $23.7M, operating cash flow $32.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $260M | -10% | -15% |
| Operating profit | −$18.5M | -358% | — |
| Net earnings | −$23.7M | — | — |
| Operating cash flow | $32.4M | -63% | -62% |
What changed
Revenue was $259.6M in Q3 2025, down 15% year over year and down 10% from the previous quarter. Service was the largest line at 52% of revenue. Product lost $38.5M year over year (down 26%), 86% of the total change.
Gross margin was 9.2%, down 8.3 points from a year earlier. Operating costs exceeded revenue by $18.5M, an operating margin of -7.1%. Operating expenses grew 12% against a revenue fall of 15%. The fastest-growing cost line was SG&A (+43%). The quarter ended with a net loss of $23.7M, wider than the previous quarter's $5.6M loss. Net interest and other expense of $15.0M was the main reason.
Operating cash flow was $32.4M (down 62% year over year). Non-cash charges added back $40.6M of depreciation and amortization and $9.3M of share-based compensation. Working capital and other items added $6.2M. Capital expenditures of $33.8M exceeded it, leaving free cash flow of −$1.4M.
Questions
What was Atlas Energy Solutions' revenue in the third quarter 2025?
Atlas Energy Solutions (AESI) reported revenue of $260M for the third quarter 2025 (Q3 2025), -15% from a year earlier and -10% from the quarter before.
Was Atlas Energy Solutions profitable in the third quarter 2025?
Operating loss was $18.5M (-7.1% of revenue) and net loss $23.7M.