Filing Flows › APi Group (APG) › Q3 2025
APi Group (APG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
APi Group (APG) reported revenue of $2.1B for the third quarter 2025 (Q3 2025), +14% from a year earlier and +5% from the quarter before. Operating margin was 7.8%, net earnings $93.0M (4.5% of revenue).
APi Group, Q3 2025: revenue $2.1B (+14% year over year), operating margin 7.8%, net earnings $93.0M, operating cash flow $232M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.1B | +5% | +14% |
| Gross profit | $652M | +6% | +15% |
| Operating profit | $163M | +14% | +15% |
| Net earnings | $93.0M | +21% | +35% |
| Operating cash flow | $232M | +180% | +5% |
| Free cash flow | $201M | +259% | +2% |
What changed
Revenue was $2.1B in Q3 2025, up 14% year over year and up 5% from the previous quarter. Life Safety was the largest line at 67% of revenue. Life Safety added $0.19B year over year (up 15%), 72% of the total change.
Gross margin was 31.3%, up 0.2 points from a year earlier. Operating profit was $0.16B, a 7.8% margin (unchanged year over year). Of the extra revenue versus a year earlier, 8% reached operating profit, above the 8% margin then. Operating expenses grew 15% against revenue growth of 14%. Net earnings were $0.09B, up 35% year over year. The effective tax rate was 28.5%.
Operating cash flow was $0.23B (up 5% year over year), 249% 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 added $0.05B. Capital expenditures of $0.03B left free cash flow of $0.20B.
Questions
What was APi Group's revenue in the third quarter 2025?
APi Group (APG) reported revenue of $2.1B for the third quarter 2025 (Q3 2025), +14% from a year earlier and +5% from the quarter before.
Was APi Group profitable in the third quarter 2025?
Operating profit was $163M (7.8% of revenue) and net earnings $93.0M.
Source: APi Group 10-Q on SEC EDGAR.