Filing Flows › PC Connection (CNXN) › Q3 2025
PC Connection (CNXN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 29, 2025
PC Connection (CNXN) reported revenue of $709M for the third quarter 2025 (Q3 2025), -2% from a year earlier and -7% from the quarter before. Operating margin was 4.3%, net earnings $24.7M (3.5% of revenue).
PC Connection, Q3 2025: revenue $709M (-2% year over year), operating margin 4.3%, net earnings $24.7M, operating cash flow $64.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $709M | -7% | -2% |
| Gross profit | $139M | +0.6% | +2% |
| Operating profit | $30.3M | -2% | +0.7% |
| Net earnings | $24.7M | -0.2% | -9% |
| Operating cash flow | $64.1M | +144% | +21% |
| Free cash flow | $62.3M | +153% | +22% |
What changed
Revenue was $709.1M in Q3 2025, down 2% year over year and down 7% from the previous quarter. Notebooks/Mobility was the largest line at 34% of revenue. Notebooks/Mobility lost $20.5M year over year (down 8%), 131% of the total change.
Gross margin was 19.6%, up 0.9 points from a year earlier. Operating profit was $30.3M, a 4.3% margin (up 0.1 points year over year). Operating expenses grew 3% against a revenue fall of 2%. Net earnings were $24.7M, down 9% year over year. The effective tax rate was 27.1%.
Operating cash flow was $64.1M (up 21% year over year), 259% of net earnings. Non-cash charges added back $2.9M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items added $34.1M. Capital expenditures of $1.9M left free cash flow of $62.3M.
Questions
What was PC Connection's revenue in the third quarter 2025?
PC Connection (CNXN) reported revenue of $709M for the third quarter 2025 (Q3 2025), -2% from a year earlier and -7% from the quarter before.
Was PC Connection profitable in the third quarter 2025?
Operating profit was $30.3M (4.3% of revenue) and net earnings $24.7M.
Source: PC Connection 10-Q on SEC EDGAR.