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Dolby Laboratories (DLB) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Nov 18, 2025
Dolby Laboratories (DLB) reported revenue of $307M for the fourth quarter fiscal 2025 (Q4 FY25), +0.7% from a year earlier and -3% from the quarter before. Operating margin was 9.7%, net earnings $49.3M (16.1% of revenue).
Dolby Laboratories, Q4 FY25: revenue $307M (+0.7% year over year), operating margin 9.7%, net earnings $49.3M, operating cash flow $123M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $307M | -3% | +0.7% |
| Gross profit | $268M | -1% | -1% |
| Operating profit | $29.7M | -38% | -36% |
| Net earnings | $49.3M | +7% | -16% |
| Operating cash flow | $123M | +81% | +6% |
| Free cash flow | $107M | +74% | -2% |
What changed
Revenue was $307.0M in Q4 FY25, up 1% year over year and down 3% from the previous quarter. Broadcast was the largest line at 35% of revenue.
Gross margin was 87.1%, down 1.7 points from Q4 FY24. Operating profit was $29.7M, a 9.7% margin (down 5.5 points year over year). Operating profit fell $16.7M even though revenue rose $2.2M versus Q4 FY24, so costs grew faster than sales. Operating expenses grew 6% against revenue growth of 1%. Net earnings were $49.3M, down 16% year over year. The effective tax rate was -19.2%. Non-operating items added $12.0M, 29% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $122.8M (up 6% year over year), 247% of net earnings. Non-cash charges added back $22.0M of depreciation and amortization and $31.1M of share-based compensation. Working capital and other items added $20.1M. Capital expenditures of $16.2M left free cash flow of $106.6M.
Questions
What was Dolby Laboratories' revenue in the fourth quarter fiscal 2025?
Dolby Laboratories (DLB) reported revenue of $307M for the fourth quarter fiscal 2025 (Q4 FY25), +0.7% from a year earlier and -3% from the quarter before.
Was Dolby Laboratories profitable in the fourth quarter fiscal 2025?
Operating profit was $29.7M (9.7% of revenue) and net earnings $49.3M.
Source: Dolby Laboratories 10-K on SEC EDGAR.