Filing Flows › Barrett Business Services (BBSI) › Q1 2025
Barrett Business Services (BBSI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Barrett Business Services (BBSI) reported revenue of $293M for the first quarter 2025 (Q1 2025), +10% from a year earlier and -4% from the quarter before. Operating margin was -1.4%, net loss $1.0M (0.3% of revenue).
Barrett Business Services, Q1 2025: revenue $293M (+10% year over year), operating margin -1.4%, net loss $1.0M, operating cash flow $5.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $293M | -4% | +10% |
| Operating profit | −$4.2M | — | — |
| Net earnings | −$1.0M | — | — |
| Operating cash flow | $5.2M | -90% | -42% |
| Free cash flow | $697K | -99% | -89% |
What changed
Revenue was $292.6M in Q1 2025, up 10% year over year and down 4% from the previous quarter. Professional Employer Services was the largest line at 94% of revenue. Professional Employer Services added $28.7M year over year (up 12%), 107% of the total change. Staffing Services declined 10%.
Gross margin was 14.6%, down 0.3 points from a year earlier. Operating costs exceeded revenue by $4.2M, an operating margin of -1.4%. Operating expenses grew 6% against revenue growth of 10%. The quarter ended with a net loss of $1.0M, after a profit of $16.8M the previous quarter. Non-operating items added $2.6M, -171% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $5.2M (down 42% year over year). Non-cash charges added back $2.0M of depreciation and amortization and $2.7M of share-based compensation. Working capital and other items added $1.6M. Capital expenditures of $4.5M left free cash flow of $697K.
Questions
What was Barrett Business Services' revenue in the first quarter 2025?
Barrett Business Services (BBSI) reported revenue of $293M for the first quarter 2025 (Q1 2025), +10% from a year earlier and -4% from the quarter before.
Was Barrett Business Services profitable in the first quarter 2025?
Operating loss was $4.2M (-1.4% of revenue) and net loss $1.0M.