Filing Flows › Civeo (CVEO) › Q3 2025
Civeo (CVEO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 31, 2025
Civeo (CVEO) reported revenue of $170M for the third quarter 2025 (Q3 2025), -3% from a year earlier and +5% from the quarter before. Operating margin was 4.1%, net loss $456K (0.3% of revenue).
Civeo, Q3 2025: revenue $170M (-3% year over year), operating margin 4.1%, net loss $456K, operating cash flow $13.8M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $170M | +5% | -3% |
| Operating profit | $7.0M | +149% | — |
| Net earnings | −$456K | — | — |
| Operating cash flow | $13.8M | — | -61% |
| Free cash flow | $8.2M | — | -71% |
What changed
Revenue was $170.5M in Q3 2025, down 3% year over year and up 5% from the previous quarter. Australia was the largest line at 73% of revenue. Canada lost $11.7M year over year (down 20%), 200% of the total change.
Gross margin was 25.7%, up 4.2 points from a year earlier. Operating profit was $7.0M, a 4.1% margin (up 4.1 points year over year). Operating expenses fell 2% while revenue fell 3%. The quarter ended with a net loss of $456K, narrower than the previous quarter's $3.3M loss. Net interest and other expense of $3.4M was the main reason.
Operating cash flow was $13.8M (down 61% year over year). Non-cash charges added back $20.0M of depreciation and amortization. Working capital and other items used $5.7M. Capital expenditures of $5.6M left free cash flow of $8.2M.
Questions
What was Civeo's revenue in the third quarter 2025?
Civeo (CVEO) reported revenue of $170M for the third quarter 2025 (Q3 2025), -3% from a year earlier and +5% from the quarter before.
Was Civeo profitable in the third quarter 2025?
Operating profit was $7.0M (4.1% of revenue) and net loss $456K.
Source: Civeo 10-Q on SEC EDGAR.