Filing Flows › Crocs (CROX) › Q1 2025
Crocs (CROX) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Crocs (CROX) reported revenue of $937M for the first quarter 2025 (Q1 2025), -0.1% from a year earlier and -5% from the quarter before. Operating margin was 23.8%, net earnings $160M (17.1% of revenue).
Crocs, Q1 2025: revenue $937M (-0.1% year over year), operating margin 23.8%, net earnings $160M, operating cash flow −$67.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $937M | -5% | -0.1% |
| Gross profit | $542M | -5% | +4% |
| Operating profit | $223M | +12% | -2% |
| Net earnings | $160M | -57% | +5% |
| Operating cash flow | −$67.2M | — | — |
What changed
Revenue was $937.3M in Q1 2025, roughly flat year over year and down 5% from the previous quarter. Crocs Brand was the largest line at 81% of revenue. HEYDUDE Brand lost $19.1M year over year (down 10%), 1469% of the total change.
Gross margin was 57.8%, up 2.2 points from a year earlier. Operating profit was $223.0M, a 23.8% margin (down 0.3 points year over year). Operating expenses grew 8% against flat revenue. Net earnings were $160.1M, up 5% year over year. The effective tax rate was 21.9%.
Operating cash flow was −$67.2M. Non-cash charges added back $18.5M of depreciation and amortization and $8.8M of share-based compensation. Working capital and other items used $254.7M. Capital expenditures of $15.4M exceeded it, leaving free cash flow of −$82.6M.
Questions
What was Crocs' revenue in the first quarter 2025?
Crocs (CROX) reported revenue of $937M for the first quarter 2025 (Q1 2025), -0.1% from a year earlier and -5% from the quarter before.
Was Crocs profitable in the first quarter 2025?
Operating profit was $223M (23.8% of revenue) and net earnings $160M.
Source: Crocs 10-Q on SEC EDGAR.