Filing Flows › American Realty Investors (ARL) › Q4 2025
American Realty Investors (ARL) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 12, 2026
American Realty Investors (ARL) reported revenue of $13.0M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +1% from the quarter before. Operating margin was -23.3%, net earnings $11.4M (87.6% of revenue).
American Realty Investors, Q4 2025: revenue $13.0M (+8% year over year), operating margin -23.3%, net earnings $11.4M, operating cash flow −$3.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.0M | +1% | +8% |
| Operating profit | −$3.0M | — | — |
| Net earnings | $11.4M | 36× | — |
| Operating cash flow | −$3.2M | -140% | — |
What changed
Revenue was $13.0M in Q4 2025, up 8% year over year and up 1% from the previous quarter.
Operating costs exceeded revenue by $3.0M, an operating margin of -23.3%. Total costs grew 16% against revenue growth of 8%. The fastest-growing cost line was Other operating costs (+20%). Net earnings were $9.8M. The effective tax rate was 11.4%. Non-operating items added $15.9M, 124% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$3.2M. Non-cash charges added back $3.7M of depreciation and amortization. Working capital and other items used $18.3M. Capital expenditures of $11.3M exceeded it, leaving free cash flow of −$14.5M.
Questions
What was American Realty Investors' revenue in the fourth quarter 2025?
American Realty Investors (ARL) reported revenue of $13.0M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +1% from the quarter before.
Was American Realty Investors profitable in the fourth quarter 2025?
Operating loss was $3.0M (-23.3% of revenue) and net earnings $11.4M.