Filing Flows › CapForce (CFOR) › Q4 2025
CapForce (CFOR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed May 26, 2026
CapForce (CFOR) reported revenue of $26.2M for the fourth quarter 2025 (Q4 2025), +424% from a year earlier. Operating margin was 83.4%, net earnings $21.1M (80.6% of revenue).
CapForce, Q4 2025: revenue $26.2M (+424% year over year), operating margin 83.4%, net earnings $21.1M, operating cash flow −$205K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $26.2M | — | +424% |
| Operating profit | $21.9M | — | +396% |
| Net earnings | $21.1M | — | +386% |
| Operating cash flow | −$205K | — | — |
What changed
Revenue was $26.2M in Q4 2025, up 424% year over year.
Operating profit was $21.9M, a 83.4% margin (down 4.6 points year over year). Of the extra revenue versus Q4 2024, 82% reached operating profit, below the 88% margin then. Total costs grew 626% against revenue growth of 424%. The fastest-growing cost line was Other operating costs (+3954%). Net earnings were $21.1M, up 386% year over year. The effective tax rate was 3.7%.
Operating cash flow was −$205K. Non-cash charges added back $50K of depreciation and amortization and $58K of share-based compensation. Working capital and other items used $21.4M.
Questions
What was CapForce's revenue in the fourth quarter 2025?
CapForce (CFOR) reported revenue of $26.2M for the fourth quarter 2025 (Q4 2025), +424% from a year earlier.
Was CapForce profitable in the fourth quarter 2025?
Operating profit was $21.9M (83.4% of revenue) and net earnings $21.1M.
Source: CapForce 10-K on SEC EDGAR.