Filing Flows › Cannae Holdings (CNNE) › Q4 2025
Cannae Holdings (CNNE) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
Cannae Holdings (CNNE) reported revenue of $103M for the fourth quarter 2025 (Q4 2025), -6% from a year earlier and -3% from the quarter before. Operating margin was -23.3%, net loss $110M (106.9% of revenue).
Cannae Holdings, Q4 2025: revenue $103M (-6% year over year), operating margin -23.3%, net loss $110M, operating cash flow $16.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $103M | -3% | -6% |
| Operating profit | −$24.1M | — | — |
| Net earnings | −$110M | — | — |
| Operating cash flow | $16.0M | — | — |
| Free cash flow | $12.0M | — | — |
What changed
Revenue was $103.3M in Q4 2025, down 6% year over year and down 3% from the previous quarter. Restaurant revenue was the largest line at 92% of revenue.
Operating costs exceeded revenue by $24.1M, an operating margin of -23.3%. Total costs fell 3% while revenue fell 6%. The quarter ended with a net loss of $110.4M, wider than the previous quarter's $70.8M loss. Minority interests bore $5.6M of it: to shareholders the quarter was a loss of $104.8M. Net interest and other expense of $87.9M was the main reason.
Operating cash flow was $16.0M. Non-cash charges added back $2.9M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items added $121.6M. Capital expenditures of $4.0M left free cash flow of $12.0M.
Questions
What was Cannae Holdings' revenue in the fourth quarter 2025?
Cannae Holdings (CNNE) reported revenue of $103M for the fourth quarter 2025 (Q4 2025), -6% from a year earlier and -3% from the quarter before.
Was Cannae Holdings profitable in the fourth quarter 2025?
Operating loss was $24.1M (-23.3% of revenue) and net loss $110M.
Source: Cannae Holdings 10-K on SEC EDGAR.