Filing Flows › Crawford (CRD-A) › Q4 2025
Crawford (CRD-A) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
Crawford (CRD-A) reported revenue of $320M for the fourth quarter 2025 (Q4 2025), -11% from a year earlier and -4% from the quarter before. Operating margin was -1.3%, net loss $7.3M (2.3% of revenue).
Crawford, Q4 2025: revenue $320M (-11% year over year), operating margin -1.3%, net loss $7.3M, operating cash flow $50.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $320M | -4% | -11% |
| Operating profit | −$4.1M | -120% | — |
| Net earnings | −$7.3M | -159% | — |
| Operating cash flow | $50.1M | +64% | +24% |
| Free cash flow | $46.9M | +60% | +26% |
What changed
Revenue was $320.1M in Q4 2025, down 11% year over year and down 4% from the previous quarter. International Operations was the largest line at 35% of revenue.
Operating costs exceeded revenue by $4.1M, an operating margin of -1.3%. Total costs fell 6% while revenue fell 11%. The fastest-growing cost line was Other operating costs (+295%). The quarter ended with a net loss of $7.3M, after a profit of $12.4M the previous quarter.
Operating cash flow was $50.1M (up 24% year over year). Non-cash charges added back $10.5M of depreciation and amortization and $357K of share-based compensation. Working capital and other items added $46.5M. Capital expenditures of $3.2M left free cash flow of $46.9M.
Questions
What was Crawford's revenue in the fourth quarter 2025?
Crawford (CRD-A) reported revenue of $320M for the fourth quarter 2025 (Q4 2025), -11% from a year earlier and -4% from the quarter before.
Was Crawford profitable in the fourth quarter 2025?
Operating loss was $4.1M (-1.3% of revenue) and net loss $7.3M.
Source: Crawford 10-K on SEC EDGAR.