Filing Flows › APi Group (APG) › Q2 2025
APi Group (APG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
APi Group (APG) reported revenue of $2.0B for the second quarter 2025 (Q2 2025), +15% from a year earlier and +16% from the quarter before. Operating margin was 7.2%, net earnings $77.0M (3.9% of revenue).
APi Group, Q2 2025: revenue $2.0B (+15% year over year), operating margin 7.2%, net earnings $77.0M, operating cash flow $83.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.0B | +16% | +15% |
| Gross profit | $615M | +13% | +13% |
| Operating profit | $143M | +70% | +13% |
| Net earnings | $77.0M | +120% | +12% |
| Operating cash flow | $83.0M | +34% | -25% |
| Free cash flow | $56.0M | +12% | -36% |
What changed
Revenue was $2.0B in Q2 2025, up 15% year over year and up 16% from the previous quarter. Life Safety was the largest line at 68% of revenue. Life Safety added $0.19B year over year (up 16%), 72% of the total change.
Gross margin was 30.9%, down 0.5 points from a year earlier. Operating profit was $0.14B, a 7.2% margin (down 0.1 points year over year). Of the extra revenue versus a year earlier, 7% reached operating profit, below the 7% margin then. Operating expenses grew 13% against revenue growth of 15%. Net earnings were $0.08B, up 12% year over year. The effective tax rate was 28.7%.
Operating cash flow was $0.08B (down 25% year over year), 108% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.09B. Capital expenditures of $0.03B left free cash flow of $0.06B.
Questions
What was APi Group's revenue in the second quarter 2025?
APi Group (APG) reported revenue of $2.0B for the second quarter 2025 (Q2 2025), +15% from a year earlier and +16% from the quarter before.
Was APi Group profitable in the second quarter 2025?
Operating profit was $143M (7.2% of revenue) and net earnings $77.0M.
Source: APi Group 10-Q on SEC EDGAR.