Filing Flows › PC Connection (CNXN) › Q2 2025
PC Connection (CNXN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
PC Connection (CNXN) reported revenue of $760M for the second quarter 2025 (Q2 2025), +3% from a year earlier and +8% from the quarter before. Operating margin was 4.1%, net earnings $24.8M (3.3% of revenue).
PC Connection, Q2 2025: revenue $760M (+3% year over year), operating margin 4.1%, net earnings $24.8M, operating cash flow $26.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $760M | +8% | +3% |
| Gross profit | $138M | +8% | +0.9% |
| Operating profit | $30.9M | +113% | -0.1% |
| Net earnings | $24.8M | +84% | -5% |
| Operating cash flow | $26.3M | — | -32% |
| Free cash flow | $24.6M | — | -33% |
What changed
Revenue was $759.7M in Q2 2025, up 3% year over year and up 8% from the previous quarter. Notebooks/Mobility was the largest line at 34% of revenue. Desktops added $17.7M year over year (up 21%), 76% of the total change. Displays and Sound declined 9%.
Gross margin was 18.1%, down 0.4 points from a year earlier. Operating profit was $30.9M, a 4.1% margin (down 0.1 points year over year). Operating profit fell $22K even though revenue rose $23.2M versus a year earlier, so costs grew faster than sales. Operating expenses grew 1% against revenue growth of 3%. Net earnings were $24.8M, down 5% year over year. The effective tax rate was 27.3%.
Operating cash flow was $26.3M (down 32% year over year), 106% of net earnings. Non-cash charges added back $2.9M of depreciation and amortization and $2.5M of share-based compensation. Working capital and other items used $3.9M. Capital expenditures of $1.6M left free cash flow of $24.6M.
Questions
What was PC Connection's revenue in the second quarter 2025?
PC Connection (CNXN) reported revenue of $760M for the second quarter 2025 (Q2 2025), +3% from a year earlier and +8% from the quarter before.
Was PC Connection profitable in the second quarter 2025?
Operating profit was $30.9M (4.1% of revenue) and net earnings $24.8M.
Source: PC Connection 10-Q on SEC EDGAR.