Filing Flows › Deluxe (DLX) › Q4 2025
Deluxe (DLX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 13, 2026
Deluxe (DLX) reported revenue of $535M for the fourth quarter 2025 (Q4 2025), +3% from a year earlier and -0.9% from the quarter before. Operating margin was 8.9%, net earnings $12.0M (2.2% of revenue).
Deluxe, Q4 2025: revenue $535M (+3% year over year), operating margin 8.9%, net earnings $12.0M, operating cash flow $102M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $535M | -0.9% | +3% |
| Operating profit | $47.7M | -37% | +1% |
| Net earnings | $12.0M | -65% | -5% |
| Operating cash flow | $102M | +52% | +70% |
| Free cash flow | $79.3M | +81% | +123% |
What changed
Revenue was $535.2M in Q4 2025, up 3% year over year and down 1% from the previous quarter. Product was the largest line at 54% of revenue.
Operating profit was $47.7M, a 8.9% margin (down 0.1 points year over year). Of the extra revenue versus a year earlier, 4% reached operating profit, below the 9% margin then. Net earnings were $12.0M, down 5% year over year. The effective tax rate was 42.9%.
Operating cash flow was $102.1M (up 70% year over year), 853% of net earnings. Non-cash charges added back $36.9M of depreciation and amortization and $7.3M of share-based compensation. Working capital and other items added $45.9M. Capital expenditures of $22.7M left free cash flow of $79.3M.
Questions
What was Deluxe's revenue in the fourth quarter 2025?
Deluxe (DLX) reported revenue of $535M for the fourth quarter 2025 (Q4 2025), +3% from a year earlier and -0.9% from the quarter before.
Was Deluxe profitable in the fourth quarter 2025?
Operating profit was $47.7M (8.9% of revenue) and net earnings $12.0M.
Source: Deluxe 10-K on SEC EDGAR.