Filing Flows › BEL Fuse (BELFA) › Q3 2025
BEL Fuse (BELFA) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
BEL Fuse (BELFA) reported revenue of $179M for the third quarter 2025 (Q3 2025), +45% from a year earlier and +6% from the quarter before. Operating margin was 16.9%, net earnings $22.2M (12.4% of revenue).
BEL Fuse, Q3 2025: revenue $179M (+45% year over year), operating margin 16.9%, net earnings $22.2M, operating cash flow $22.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $179M | +6% | +45% |
| Gross profit | $71.1M | +9% | +59% |
| Operating profit | $30.3M | +2% | +165% |
| Net earnings | $22.2M | -17% | +175% |
| Operating cash flow | $22.2M | +7% | -19% |
| Free cash flow | $20.3M | +21% | -14% |
What changed
Revenue was $179.0M in Q3 2025, up 45% year over year and up 6% from the previous quarter. Power Solutions and Protection was the largest line at 53% of revenue. Power Solutions and Protection added $45.7M year over year (up 94%), 83% of the total change.
Gross margin was 39.7%, up 3.6 points from a year earlier. Operating profit was $30.3M, a 16.9% margin (up 7.7 points year over year). Of the extra revenue versus a year earlier, 34% reached operating profit, above the 9% margin then. Operating expenses grew 23% against revenue growth of 45%. The fastest-growing cost line was Research & development (+39%). Net earnings were $22.2M, up 175% year over year. The effective tax rate was 19.5%.
Operating cash flow was $22.2M (down 19% year over year), 98% of net earnings. Non-cash charges added back $6.7M of depreciation and amortization and $1.8M of share-based compensation. Working capital and other items used $8.8M. Capital expenditures of $1.9M left free cash flow of $20.3M.
Questions
What was BEL Fuse's revenue in the third quarter 2025?
BEL Fuse (BELFA) reported revenue of $179M for the third quarter 2025 (Q3 2025), +45% from a year earlier and +6% from the quarter before.
Was BEL Fuse profitable in the third quarter 2025?
Operating profit was $30.3M (16.9% of revenue) and net earnings $22.2M.
Source: BEL Fuse 10-Q on SEC EDGAR.