Filing Flows › BEL Fuse (BELFA) › Q2 2025
BEL Fuse (BELFA) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
BEL Fuse (BELFA) reported revenue of $168M for the second quarter 2025 (Q2 2025), +26% from a year earlier and +11% from the quarter before. Operating margin was 17.7%, net earnings $26.9M (16.0% of revenue).
BEL Fuse, Q2 2025: revenue $168M (+26% year over year), operating margin 17.7%, net earnings $26.9M, operating cash flow $20.7M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $168M | +11% | +26% |
| Gross profit | $65.1M | +11% | +22% |
| Operating profit | $29.9M | +19% | +32% |
| Net earnings | $26.9M | +50% | +43% |
| Operating cash flow | $20.7M | +154% | -36% |
| Free cash flow | $16.8M | +213% | -46% |
What changed
Revenue was $168.3M in Q2 2025, up 26% year over year and up 11% from the previous quarter. Power Solutions and Protection was the largest line at 52% of revenue. Power Solutions and Protection added $28.2M year over year (up 48%), 80% of the total change.
Gross margin was 38.7%, down 1.4 points from a year earlier. Operating profit was $29.9M, a 17.7% margin (up 0.8 points year over year). Of the extra revenue versus a year earlier, 21% reached operating profit, above the 17% margin then. Operating expenses grew 14% against revenue growth of 26%. Net earnings were $26.9M, up 43% year over year. The effective tax rate was 20.5%.
Operating cash flow was $20.7M (down 36% year over year), 77% of net earnings. Non-cash charges added back $6.6M of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items used $14.4M. Capital expenditures of $3.9M left free cash flow of $16.8M.
Questions
What was BEL Fuse's revenue in the second quarter 2025?
BEL Fuse (BELFA) reported revenue of $168M for the second quarter 2025 (Q2 2025), +26% from a year earlier and +11% from the quarter before.
Was BEL Fuse profitable in the second quarter 2025?
Operating profit was $29.9M (17.7% of revenue) and net earnings $26.9M.
Source: BEL Fuse 10-Q on SEC EDGAR.