Filing Flows › CSP (CSPI) › Q4 FY25
CSP (CSPI) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Dec 16, 2025
CSP (CSPI) reported revenue of $14.5M for the fourth quarter fiscal 2025 (Q4 FY25), +11% from a year earlier and -6% from the quarter before. Operating margin was -3.7%, net loss $191K (1.3% of revenue).
CSP, Q4 FY25: revenue $14.5M (+11% year over year), operating margin -3.7%, net loss $191K, operating cash flow $1.9M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $14.5M | -6% | +11% |
| Operating profit | −$538K | — | — |
| Net earnings | −$191K | — | — |
| Operating cash flow | $1.9M | — | — |
| Free cash flow | $1.7M | — | — |
What changed
Revenue was $14.5M in Q4 FY25, up 11% year over year and down 6% from the previous quarter. Product was the largest line at 56% of revenue.
Gross margin was 36.6%, up 8.2 points from Q4 FY24. Operating costs exceeded revenue by $538K, an operating margin of -3.7%. Operating expenses grew 1% against revenue growth of 11%. The fastest-growing cost line was Research & development (+15%). The quarter ended with a net loss of $191K, narrower than the previous quarter's $264K loss. Non-operating items added $326K, -154% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $1.9M. Non-cash charges added back $57K of depreciation and amortization and $411K of share-based compensation. Working capital and other items added $1.6M. Capital expenditures of $228K left free cash flow of $1.7M.
Questions
What was CSP's revenue in the fourth quarter fiscal 2025?
CSP (CSPI) reported revenue of $14.5M for the fourth quarter fiscal 2025 (Q4 FY25), +11% from a year earlier and -6% from the quarter before.
Was CSP profitable in the fourth quarter fiscal 2025?
Operating loss was $538K (-3.7% of revenue) and net loss $191K.
Source: CSP 10-K on SEC EDGAR.