Filing Flows › Centerspace (CSR) › Q4 2025
Centerspace (CSR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 17, 2026
Centerspace (CSR) reported revenue of $66.6M for the fourth quarter 2025 (Q4 2025), +0.3% from a year earlier and -7% from the quarter before. Operating margin was -15.9%, net loss $21.5M (32.2% of revenue).
Centerspace, Q4 2025: revenue $66.6M (+0.3% year over year), operating margin -15.9%, net loss $21.5M, operating cash flow $12.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $66.6M | -7% | +0.3% |
| Operating profit | −$10.6M | -114% | — |
| Net earnings | −$21.5M | -140% | — |
| Operating cash flow | $12.7M | -64% | -32% |
| Free cash flow | $2.7M | — | -72% |
What changed
Revenue was $66.6M in Q4 2025, roughly flat year over year and down 7% from the previous quarter.
Operating costs exceeded revenue by $10.6M, an operating margin of -15.9%. Total costs grew 22% against flat revenue. The fastest-growing cost line was General & admin (+35%). The quarter ended with a net loss of $21.5M, after a profit of $65.4M the previous quarter. Minority interests bore $3.0M of it: to shareholders the quarter was a loss of $18.4M. Net interest and other expense of $10.9M was the main reason.
Operating cash flow was $12.7M (down 32% year over year). Non-cash charges added back $29.8M of depreciation and amortization and $881K of share-based compensation. Working capital and other items added $3.5M. Capital expenditures of $10.0M left free cash flow of $2.7M.
Questions
What was Centerspace's revenue in the fourth quarter 2025?
Centerspace (CSR) reported revenue of $66.6M for the fourth quarter 2025 (Q4 2025), +0.3% from a year earlier and -7% from the quarter before.
Was Centerspace profitable in the fourth quarter 2025?
Operating loss was $10.6M (-15.9% of revenue) and net loss $21.5M.
Source: Centerspace 10-K on SEC EDGAR.