Filing Flows › Clipper Realty (CLPR) › Q3 2025
Clipper Realty (CLPR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 14, 2025
Clipper Realty (CLPR) reported revenue of $37.7M for the third quarter 2025 (Q3 2025), +0.2% from a year earlier and -3% from the quarter before. Operating margin was 23.6%, net loss $4.6M (12.2% of revenue).
Clipper Realty, Q3 2025: revenue $37.7M (+0.2% year over year), operating margin 23.6%, net loss $4.6M, operating cash flow $1.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $37.7M | -3% | +0.2% |
| Operating profit | $8.9M | -18% | — |
| Net earnings | −$4.6M | — | — |
| Operating cash flow | $1.4M | -83% | -77% |
What changed
Revenue was $37.7M in Q3 2025, roughly flat year over year and down 3% from the previous quarter. Residential Rental was the largest line at 79% of revenue. Residential Rental added $1.9M year over year (up 7%), 2536% of the total change. Commercial Real Estate declined 19%.
Operating profit was $8.9M, a 23.6% margin (down 5.0 points year over year). Operating profit fell $1.9M even though revenue rose $76K versus a year earlier, so costs grew faster than sales. Total costs grew 7% against flat revenue. The quarter ended with a net loss of $4.6M, wider than the previous quarter's $1.4M loss. Minority interests bore $2.9M of it: to shareholders the quarter was a loss of $1.8M. Net interest and other expense of $13.5M was the main reason.
Operating cash flow was $1.4M (down 77% year over year). Non-cash charges added back $8.0M of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items used $3.0M.
Questions
What was Clipper Realty's revenue in the third quarter 2025?
Clipper Realty (CLPR) reported revenue of $37.7M for the third quarter 2025 (Q3 2025), +0.2% from a year earlier and -3% from the quarter before.
Was Clipper Realty profitable in the third quarter 2025?
Operating profit was $8.9M (23.6% of revenue) and net loss $4.6M.
Source: Clipper Realty 10-Q on SEC EDGAR.