Filing Flows › Burford Capital (BUR) › Q2 2025
Burford Capital (BUR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Burford Capital (BUR) reported revenue of $191M for the second quarter 2025 (Q2 2025), +20% from a year earlier and +61% from the quarter before. Operating margin was 74.3%, net earnings $88.3M (46.2% of revenue).
Burford Capital, Q2 2025: revenue $191M (+20% year over year), operating margin 74.3%, net earnings $88.3M, operating cash flow −$84.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $191M | +61% | +20% |
| Operating profit | $142M | +83% | +17% |
| Net earnings | $88.3M | +185% | +64% |
| Operating cash flow | −$84.2M | -154% | — |
What changed
Revenue was $191.3M in Q2 2025, up 20% year over year and up 61% from the previous quarter.
Operating profit was $142.2M, a 74.3% margin (down 1.8 points year over year). Of the extra revenue versus a year earlier, 65% reached operating profit, below the 76% margin then. Total costs grew 29% against revenue growth of 20%. The fastest-growing cost line was Other operating costs (+36%). Net earnings were $88.3M, up 64% year over year. The effective tax rate was 4.2%.
Operating cash flow was −$84.2M. Non-cash charges added back $6.7M of share-based compensation. Working capital and other items used $196.1M. Capital expenditures of $103K exceeded it, leaving free cash flow of −$84.3M.
Questions
What was Burford Capital's revenue in the second quarter 2025?
Burford Capital (BUR) reported revenue of $191M for the second quarter 2025 (Q2 2025), +20% from a year earlier and +61% from the quarter before.
Was Burford Capital profitable in the second quarter 2025?
Operating profit was $142M (74.3% of revenue) and net earnings $88.3M.
Source: Burford Capital 10-Q on SEC EDGAR.