Filing Flows › Atlas Energy Solutions (AESI) › Q4 2025
Atlas Energy Solutions (AESI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Atlas Energy Solutions (AESI) reported revenue of $249M for the fourth quarter 2025 (Q4 2025), -8% from a year earlier and -4% from the quarter before. Operating margin was -6.0%, net loss $22.2M (8.9% of revenue).
Atlas Energy Solutions, Q4 2025: revenue $249M (-8% year over year), operating margin -6.0%, net loss $22.2M, operating cash flow $3.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $249M | -4% | -8% |
| Operating profit | −$14.9M | — | — |
| Net earnings | −$22.2M | — | — |
| Operating cash flow | $3.7M | -89% | -95% |
What changed
Revenue was $249.4M in Q4 2025, down 8% year over year and down 4% from the previous quarter. Service was the largest line at 51% of revenue.
Gross margin was 8.1%, down 10.3 points from a year earlier. Operating costs exceeded revenue by $14.9M, an operating margin of -6.0%. Operating expenses grew 83% against a revenue fall of 8%. The quarter ended with a net loss of $22.2M, narrower than the previous quarter's $23.7M loss. Net interest and other expense of $16.0M was the main reason.
Operating cash flow was $3.7M (down 95% year over year). Non-cash charges added back $41.9M of depreciation and amortization and $9.1M of share-based compensation. Working capital and other items used $25.0M. Capital expenditures of $21.8M exceeded it, leaving free cash flow of −$18.1M.
Questions
What was Atlas Energy Solutions' revenue in the fourth quarter 2025?
Atlas Energy Solutions (AESI) reported revenue of $249M for the fourth quarter 2025 (Q4 2025), -8% from a year earlier and -4% from the quarter before.
Was Atlas Energy Solutions profitable in the fourth quarter 2025?
Operating loss was $14.9M (-6.0% of revenue) and net loss $22.2M.