Filing Flows › Burford Capital (BUR) › Q1 2025
Burford Capital (BUR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Burford Capital (BUR) reported revenue of $119M for the first quarter 2025 (Q1 2025), +168% from a year earlier and +28% from the quarter before. Operating margin was 65.4%, net earnings $30.9M (26.0% of revenue).
Burford Capital, Q1 2025: revenue $119M (+168% year over year), operating margin 65.4%, net earnings $30.9M, operating cash flow $155M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $119M | +28% | +168% |
| Operating profit | $77.8M | +47% | +449% |
| Net earnings | $30.9M | — | — |
| Operating cash flow | $155M | — | +193% |
| Free cash flow | $155M | — | +193% |
What changed
Revenue was $118.9M in Q1 2025, up 168% year over year and up 28% from the previous quarter.
Operating profit was $77.8M, a 65.4% margin (up 33.5 points year over year). Of the extra revenue versus a year earlier, 85% reached operating profit, above the 32% margin then. Total costs grew 36% against revenue growth of 168%. The fastest-growing cost line was General & admin (+37%). Net earnings were $30.9M. The effective tax rate was 17.0%.
Operating cash flow was $155.2M (up 193% year over year), 420% of net income including minority interests. Non-cash charges added back $3.4M of share-based compensation. Working capital and other items added $114.9M. Capital expenditures of $24K left free cash flow of $155.1M.
Questions
What was Burford Capital's revenue in the first quarter 2025?
Burford Capital (BUR) reported revenue of $119M for the first quarter 2025 (Q1 2025), +168% from a year earlier and +28% from the quarter before.
Was Burford Capital profitable in the first quarter 2025?
Operating profit was $77.8M (65.4% of revenue) and net earnings $30.9M.
Source: Burford Capital 10-Q on SEC EDGAR.