Filing Flows › Cadre Holdings (CDRE) › Q3 2025
Cadre Holdings (CDRE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Cadre Holdings (CDRE) reported revenue of $156M for the third quarter 2025 (Q3 2025), +42% from a year earlier and -0.8% from the quarter before. Operating margin was 12.0%, net earnings $10.9M (7.0% of revenue).
Cadre Holdings, Q3 2025: revenue $156M (+42% year over year), operating margin 12.0%, net earnings $10.9M, operating cash flow $22.5M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $156M | -0.8% | +42% |
| Gross profit | $66.6M | +4% | +66% |
| Operating profit | $18.7M | +27% | +244% |
| Net earnings | $10.9M | -10% | +199% |
| Operating cash flow | $22.5M | +768% | — |
| Free cash flow | $21.6M | 19× | — |
What changed
Revenue was $155.9M in Q3 2025, up 42% year over year and down 1% from the previous quarter.
Gross margin was 42.7%, up 6.2 points from a year earlier. Operating profit was $18.7M, a 12.0% margin (up 7.0 points year over year). Of the extra revenue versus a year earlier, 29% reached operating profit, above the 5% margin then. Operating expenses grew 39% against revenue growth of 42%. The fastest-growing cost line was Other operating costs (+282%). Net earnings were $10.9M, up 199% year over year. The effective tax rate was 26.3%.
Operating cash flow was $22.5M, 205% of net earnings. Non-cash charges added back $5.4M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items added $3.7M. Capital expenditures of $849K left free cash flow of $21.6M.
Questions
What was Cadre Holdings' revenue in the third quarter 2025?
Cadre Holdings (CDRE) reported revenue of $156M for the third quarter 2025 (Q3 2025), +42% from a year earlier and -0.8% from the quarter before.
Was Cadre Holdings profitable in the third quarter 2025?
Operating profit was $18.7M (12.0% of revenue) and net earnings $10.9M.
Source: Cadre Holdings 10-Q on SEC EDGAR.