Filing Flows › Callaway Golf (CALY) › Q3 2025
Callaway Golf (CALY) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Callaway Golf (CALY) reported revenue of $934M for the third quarter 2025 (Q3 2025), -8% from a year earlier and -16% from the quarter before. Operating margin was 3.0%, net loss $14.7M (1.6% of revenue).
Callaway Golf, Q3 2025: revenue $934M (-8% year over year), operating margin 3.0%, net loss $14.7M, operating cash flow $228M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $934M | -16% | -8% |
| Operating profit | $28.3M | -73% | — |
| Net earnings | −$14.7M | -172% | — |
| Operating cash flow | $228M | +80% | +22% |
| Free cash flow | $162M | +209% | +48% |
What changed
Revenue was $934.0M in Q3 2025, down 8% year over year and down 16% from the previous quarter.
Operating profit was $28.3M, a 3.0% margin (down 0.3 points year over year). Total costs fell 8% while revenue fell 8%. The quarter ended with a net loss of $14.7M, after a profit of $20.3M the previous quarter. Net interest and other expense of $50.6M was the main reason.
Operating cash flow was $228.4M (up 22% year over year). Non-cash charges added back $65.5M of depreciation and amortization and $3.9M of share-based compensation. Working capital and other items added $173.7M. Capital expenditures of $66.3M left free cash flow of $162.1M.
Questions
What was Callaway Golf's revenue in the third quarter 2025?
Callaway Golf (CALY) reported revenue of $934M for the third quarter 2025 (Q3 2025), -8% from a year earlier and -16% from the quarter before.
Was Callaway Golf profitable in the third quarter 2025?
Operating profit was $28.3M (3.0% of revenue) and net loss $14.7M.
Source: Callaway Golf 10-Q on SEC EDGAR.