Filing Flows › Accelerant (ARX) › Q4 2025
Accelerant (ARX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 18, 2026
Accelerant (ARX) reported revenue of $248M for the fourth quarter 2025 (Q4 2025), +30% from a year earlier and -7% from the quarter before. Operating margin was -0.9%, net earnings $900K (0.4% of revenue).
Accelerant, Q4 2025: revenue $248M (+30% year over year), operating margin -0.9%, net earnings $900K, operating cash flow $61.9M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $248M | -7% | +30% |
| Operating profit | −$2.2M | — | — |
| Net earnings | $900K | — | — |
| Operating cash flow | $61.9M | -16% | -74% |
What changed
Revenue was $248.4M in Q4 2025, up 30% year over year and down 7% from the previous quarter.
Operating costs exceeded revenue by $2.2M, an operating margin of -0.9%. Total costs grew 49% against revenue growth of 30%. The fastest-growing cost line was General & admin (+69%). Net earnings were −$600K.
Operating cash flow was $61.9M (down 74% year over year), 6878% of net income including minority interests. Non-cash charges added back $9.5M of depreciation and amortization and $20.5M of share-based compensation. Working capital and other items added $31.0M.
Questions
What was Accelerant's revenue in the fourth quarter 2025?
Accelerant (ARX) reported revenue of $248M for the fourth quarter 2025 (Q4 2025), +30% from a year earlier and -7% from the quarter before.
Was Accelerant profitable in the fourth quarter 2025?
Operating loss was $2.2M (-0.9% of revenue) and net earnings $900K.
Source: Accelerant 10-K on SEC EDGAR.