Filing Flows › Alto Ingredients (ALTO) › Q4 2025
Alto Ingredients (ALTO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 13, 2026
Alto Ingredients (ALTO) reported revenue of $232M for the fourth quarter 2025 (Q4 2025), -2% from a year earlier and -4% from the quarter before. Operating margin was 3.2%, net earnings $21.8M (9.4% of revenue).
Alto Ingredients, Q4 2025: revenue $232M (-2% year over year), operating margin 3.2%, net earnings $21.8M, operating cash flow $9.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $232M | -4% | -2% |
| Gross profit | $15.2M | -35% | — |
| Operating profit | $7.5M | -56% | — |
| Net earnings | $21.8M | +53% | — |
| Operating cash flow | $9.5M | -58% | — |
| Free cash flow | $7.6M | -64% | — |
What changed
Revenue was $232.0M in Q4 2025, down 2% year over year and down 4% from the previous quarter.
Gross margin was 6.5%. Operating profit was $7.5M, a 3.2% margin (up 19.8 points year over year). The fastest-growing cost line was SG&A (+38%). Net earnings were $21.8M. The effective tax rate was -2.9%. Non-operating items added $13.7M, 65% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $9.5M, 44% of net earnings. Non-cash charges added back $6.3M of depreciation and amortization and $842K of share-based compensation. Working capital and other items used $19.4M. Capital expenditures of $1.9M left free cash flow of $7.6M.
Questions
What was Alto Ingredients' revenue in the fourth quarter 2025?
Alto Ingredients (ALTO) reported revenue of $232M for the fourth quarter 2025 (Q4 2025), -2% from a year earlier and -4% from the quarter before.
Was Alto Ingredients profitable in the fourth quarter 2025?
Operating profit was $7.5M (3.2% of revenue) and net earnings $21.8M.
Source: Alto Ingredients 10-K on SEC EDGAR.