Filing Flows › Capstone Holding (CAPS) › Q3 2025
Capstone Holding (CAPS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 18, 2025
Capstone Holding (CAPS) reported revenue of $13.7M for the third quarter 2025 (Q3 2025), +11% from a year earlier and +6% from the quarter before. Operating margin was -5.6%, net loss $2.0M (14.8% of revenue).
Capstone Holding, Q3 2025: revenue $13.7M (+11% year over year), operating margin -5.6%, net loss $2.0M, operating cash flow $0. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.7M | +6% | +11% |
| Operating profit | −$768K | — | — |
| Net earnings | −$2.0M | — | — |
| Operating cash flow | $0 | — | -100% |
What changed
Revenue was $13.7M in Q3 2025, up 11% year over year and up 6% from the previous quarter.
Gross margin was 23.8%, down 0.5 points from a year earlier. Operating costs exceeded revenue by $768K, an operating margin of -5.6%. Operating expenses grew 56% against revenue growth of 11%. The quarter ended with a net loss of $2.0M, wider than the previous quarter's $700K loss. Net interest and other expense of $1.2M was the main reason.
Operating cash flow was $0K. Non-cash charges added back $118K of depreciation and amortization. Working capital and other items added $1.9M.
Questions
What was Capstone Holding's revenue in the third quarter 2025?
Capstone Holding (CAPS) reported revenue of $13.7M for the third quarter 2025 (Q3 2025), +11% from a year earlier and +6% from the quarter before.
Was Capstone Holding profitable in the third quarter 2025?
Operating loss was $768K (-5.6% of revenue) and net loss $2.0M.
Source: Capstone Holding 10-Q on SEC EDGAR.