Filing Flows › Barrett Business Services (BBSI) › Q2 2025
Barrett Business Services (BBSI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Barrett Business Services (BBSI) reported revenue of $308M for the second quarter 2025 (Q2 2025), +10% from a year earlier and +5% from the quarter before. Operating margin was 7.5%, net earnings $18.5M (6.0% of revenue).
Barrett Business Services, Q2 2025: revenue $308M (+10% year over year), operating margin 7.5%, net earnings $18.5M, operating cash flow −$53.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $308M | +5% | +10% |
| Gross profit | $73.3M | +72% | +8% |
| Operating profit | $23.0M | — | +13% |
| Net earnings | $18.5M | — | +10% |
| Operating cash flow | −$53.8M | -1133% | — |
What changed
Revenue was $307.7M in Q2 2025, up 10% year over year and up 5% from the previous quarter. Professional Employer Services was the largest line at 94% of revenue. Professional Employer Services added $30.3M year over year (up 12%), 108% of the total change. Staffing Services declined 12%.
Gross margin was 23.8%, down 0.5 points from a year earlier. Operating profit was $23.0M, a 7.5% margin (up 0.2 points year over year). Of the extra revenue versus a year earlier, 9% reached operating profit, above the 7% margin then. Operating expenses grew 6% against revenue growth of 10%. Net earnings were $18.5M, up 10% year over year. The effective tax rate was 27.1%.
Operating cash flow was −$53.8M. Non-cash charges added back $2.0M of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items used $76.6M. Capital expenditures of $4.4M exceeded it, leaving free cash flow of −$58.2M.
Questions
What was Barrett Business Services' revenue in the second quarter 2025?
Barrett Business Services (BBSI) reported revenue of $308M for the second quarter 2025 (Q2 2025), +10% from a year earlier and +5% from the quarter before.
Was Barrett Business Services profitable in the second quarter 2025?
Operating profit was $23.0M (7.5% of revenue) and net earnings $18.5M.