Filing Flows › Canterbury Park Holding (CPHC) › Q3 2025
Canterbury Park Holding (CPHC) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Canterbury Park Holding (CPHC) reported revenue of $18.3M for the third quarter 2025 (Q3 2025), -5% from a year earlier and +17% from the quarter before. Operating margin was 5.7%, net earnings $487K (2.7% of revenue).
Canterbury Park Holding, Q3 2025: revenue $18.3M (-5% year over year), operating margin 5.7%, net earnings $487K, operating cash flow $1.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $18.3M | +17% | -5% |
| Operating profit | $1.1M | +143% | -71% |
| Net earnings | $487K | — | -76% |
| Operating cash flow | $1.2M | -72% | -45% |
What changed
Revenue was $18.3M in Q3 2025, down 5% year over year and up 17% from the previous quarter. Casino was the largest line at 49% of revenue. Casino lost $1.0M year over year (down 10%), 98% of the total change.
Operating profit was $1.1M, a 5.7% margin (down 13.2 points year over year). Total costs grew 10% against a revenue fall of 5%. The fastest-growing cost line was Sales & marketing (+19%). Net earnings were $487K, down 76% year over year. The effective tax rate was 24.3%.
Operating cash flow was $1.2M (down 45% year over year), 256% of net earnings. Non-cash charges added back $1.0M of depreciation and $177K of share-based compensation. Working capital and other items used $444K. Capital expenditures of $1.6M exceeded it, leaving free cash flow of −$395K.
Questions
What was Canterbury Park Holding's revenue in the third quarter 2025?
Canterbury Park Holding (CPHC) reported revenue of $18.3M for the third quarter 2025 (Q3 2025), -5% from a year earlier and +17% from the quarter before.
Was Canterbury Park Holding profitable in the third quarter 2025?
Operating profit was $1.1M (5.7% of revenue) and net earnings $487K.