Filing Flows › Crimson Wine Group (CWGL) › Q3 2025
Crimson Wine Group (CWGL) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Crimson Wine Group (CWGL) reported revenue of $13.3M for the third quarter 2025 (Q3 2025), -21% from a year earlier and -22% from the quarter before. Operating margin was -8.7%, net earnings $943K (7.1% of revenue).
Crimson Wine Group, Q3 2025: revenue $13.3M (-21% year over year), operating margin -8.7%, net earnings $943K, operating cash flow $2.5M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.3M | -22% | -21% |
| Operating profit | −$1.2M | — | — |
| Net earnings | $943K | — | — |
| Operating cash flow | $2.5M | +361% | +64% |
| Free cash flow | $1.1M | — | — |
What changed
Revenue was $13.3M in Q3 2025, down 21% year over year and down 22% from the previous quarter.
Gross margin was 47.2%, down 0.7 points from a year earlier. Operating costs exceeded revenue by $1.2M, an operating margin of -8.7%. Operating expenses fell 11% while revenue fell 21%. Net earnings were $943K, up 2382% year over year. The effective tax rate was 31.1%. Non-operating items added $2.5M, 184% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $2.5M (up 64% year over year), 264% of net earnings. Non-cash charges added back $2.0M of depreciation and amortization and $28K of share-based compensation. Working capital and other items used $471K. Capital expenditures of $1.4M left free cash flow of $1.1M.
Questions
What was Crimson Wine Group's revenue in the third quarter 2025?
Crimson Wine Group (CWGL) reported revenue of $13.3M for the third quarter 2025 (Q3 2025), -21% from a year earlier and -22% from the quarter before.
Was Crimson Wine Group profitable in the third quarter 2025?
Operating loss was $1.2M (-8.7% of revenue) and net earnings $943K.
Source: Crimson Wine Group 10-Q on SEC EDGAR.