Filing Flows › Crocs (CROX) › Q3 2025
Crocs (CROX) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Crocs (CROX) reported revenue of $996M for the third quarter 2025 (Q3 2025), -6% from a year earlier and -13% from the quarter before. Operating margin was 20.8%, net earnings $146M (14.6% of revenue).
Crocs, Q3 2025: revenue $996M (-6% year over year), operating margin 20.8%, net earnings $146M, operating cash flow $239M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $996M | -13% | -6% |
| Gross profit | $583M | -18% | -8% |
| Operating profit | $208M | — | -23% |
| Net earnings | $146M | — | -27% |
| Operating cash flow | $239M | -16% | -19% |
| Free cash flow | $226M | — | -19% |
What changed
Revenue was $996.3M in Q3 2025, down 6% year over year and down 13% from the previous quarter. Crocs Brand was the largest line at 84% of revenue. HEYDUDE Brand lost $44.0M year over year (down 22%), 67% of the total change.
Gross margin was 58.5%, down 1.1 points from a year earlier. Operating profit was $207.7M, a 20.8% margin (down 4.6 points year over year). Operating expenses grew 3% against a revenue fall of 6%. Net earnings were $145.8M, down 27% year over year. The effective tax rate was 23.0%.
Operating cash flow was $239.3M (down 19% year over year), 164% of net earnings. Non-cash charges added back $20.3M of depreciation and amortization and $8.5M of share-based compensation. Working capital and other items added $64.7M. After purchases of property, equipment, and software ($13.2M), free cash flow as the company reports it was $226.2M.
Questions
What was Crocs' revenue in the third quarter 2025?
Crocs (CROX) reported revenue of $996M for the third quarter 2025 (Q3 2025), -6% from a year earlier and -13% from the quarter before.
Was Crocs profitable in the third quarter 2025?
Operating profit was $208M (20.8% of revenue) and net earnings $146M.
Source: Crocs 10-Q on SEC EDGAR.