Filing Flows › Cass Information Systems (CASS) › Q3 2025
Cass Information Systems (CASS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Cass Information Systems (CASS) reported revenue of $50.1M for the third quarter 2025 (Q3 2025), +8% from a year earlier and +13% from the quarter before. Operating margin was 23.0%, net earnings $9.1M (18.2% of revenue).
Cass Information Systems, Q3 2025: revenue $50.1M (+8% year over year), operating margin 23.0%, net earnings $9.1M, operating cash flow $12.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $50.1M | +13% | +8% |
| Operating profit | $11.5M | +15% | +213% |
| Net earnings | $9.1M | +3% | +210% |
| Operating cash flow | $12.3M | — | — |
| Free cash flow | $11.3M | — | — |
What changed
Revenue was $50.1M in Q3 2025, up 8% year over year and up 13% from the previous quarter. Processing fees was the largest line at 33% of revenue. Bank service fees added $18K year over year (up 5%), 1% of the total change. Financial fees declined 5%.
Operating profit was $11.5M, a 23.0% margin (up 15.1 points year over year). Of the extra revenue versus a year earlier, 222% reached operating profit, above the 8% margin then. Total costs fell 10% while revenue rose 8%. Net earnings were $9.1M, up 210% year over year. The effective tax rate was 20.9%.
Operating cash flow was $12.3M, 135% of net earnings. Non-cash charges added back $1.7M of depreciation and amortization and $1.0M of share-based compensation. Capital expenditures of $1.0M left free cash flow of $11.3M.
Questions
What was Cass Information Systems' revenue in the third quarter 2025?
Cass Information Systems (CASS) reported revenue of $50.1M for the third quarter 2025 (Q3 2025), +8% from a year earlier and +13% from the quarter before.
Was Cass Information Systems profitable in the third quarter 2025?
Operating profit was $11.5M (23.0% of revenue) and net earnings $9.1M.