Filing Flows › Burford Capital (BUR) › Q3 2026
Burford Capital (BUR) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 4, 2026
Burford Capital (BUR) reported revenue of $147M for the third quarter 2026 (Q3 2026), +110% from a year earlier and +33% from the quarter before. Operating margin was 66.6%, net earnings $23.4M (15.9% of revenue).
Burford Capital, Q3 2026: revenue $147M (+110% year over year), operating margin 66.6%, net earnings $23.4M, operating cash flow −$127M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $147M | +33% | +110% |
| Operating profit | $97.8M | +55% | +295% |
| Net earnings | $23.4M | +960% | — |
| Operating cash flow | −$127M | -344% | — |
What changed
Revenue was $146.9M in Q3 2026, up 110% year over year and up 33% from the previous quarter.
Operating profit was $97.8M, a 66.6% margin (up 31.1 points year over year). Of the extra revenue versus Q3 2025, 95% reached operating profit, above the 36% margin then. Total costs grew 9% against revenue growth of 110%. The fastest-growing cost line was Other operating costs (+16%). Net earnings were $23.4M. The effective tax rate was 20.6%.
Operating cash flow was −$127.0M. Non-cash charges added back $2.9M of share-based compensation. Working capital and other items used $164.1M. Capital expenditures of $4K exceeded it, leaving free cash flow of −$127.0M.
Questions
What was Burford Capital's revenue in the third quarter 2026?
Burford Capital (BUR) reported revenue of $147M for the third quarter 2026 (Q3 2026), +110% from a year earlier and +33% from the quarter before.
Was Burford Capital profitable in the third quarter 2026?
Operating profit was $97.8M (66.6% of revenue) and net earnings $23.4M.
Source: Burford Capital 10-Q on SEC EDGAR.