Filing Flows › Burford Capital (BUR) › Q3 2025
Burford Capital (BUR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Burford Capital (BUR) reported revenue of $69.8M for the third quarter 2025 (Q3 2025), -72% from a year earlier and -64% from the quarter before. Operating margin was 35.5%, net loss $20.3M (29.0% of revenue).
Burford Capital, Q3 2025: revenue $69.8M (-72% year over year), operating margin 35.5%, net loss $20.3M, operating cash flow −$20.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $69.8M | -64% | -72% |
| Operating profit | $24.8M | -83% | — |
| Net earnings | −$20.3M | -123% | — |
| Operating cash flow | −$20.1M | — | — |
What changed
Revenue was $69.8M in Q3 2025, down 72% year over year and down 64% from the previous quarter.
Operating profit was $24.8M, a 35.5% margin (down 45.7 points year over year). Total costs fell 4% while revenue fell 72%. The fastest-growing cost line was General & admin (+13%). The quarter ended with a net loss of $20.3M, after a profit of $105.2M the previous quarter. Minority interests bore $1.1M of it: to shareholders the quarter was a loss of $19.2M. Net interest and other expense of $41.3M was the main reason.
Operating cash flow was −$20.1M. Non-cash charges added back $6.9M of share-based compensation. Working capital and other items used $6.7M. Capital expenditures of $58K exceeded it, leaving free cash flow of −$20.1M.
Questions
What was Burford Capital's revenue in the third quarter 2025?
Burford Capital (BUR) reported revenue of $69.8M for the third quarter 2025 (Q3 2025), -72% from a year earlier and -64% from the quarter before.
Was Burford Capital profitable in the third quarter 2025?
Operating profit was $24.8M (35.5% of revenue) and net loss $20.3M.
Source: Burford Capital 10-Q on SEC EDGAR.