Filing Flows › DarkHorse Technologies (DRK) › Q2 2025
DarkHorse Technologies (DRK) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
DarkHorse Technologies (DRK) reported revenue of $3.0M for the second quarter 2025 (Q2 2025), -35% from a year earlier and +7% from the quarter before. Operating margin was -87.0%, net earnings $1.7M (55.2% of revenue).
DarkHorse Technologies, Q2 2025: revenue $3.0M (-35% year over year), operating margin -87.0%, net earnings $1.7M, operating cash flow −$5.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0M | +7% | -35% |
| Operating profit | −$2.6M | — | — |
| Net earnings | $1.7M | — | — |
| Operating cash flow | −$5.8M | — | — |
What changed
Revenue was $3.0M in Q2 2025, down 35% year over year and up 7% from the previous quarter.
Operating costs exceeded revenue by $2.6M, an operating margin of -87.0%. Total costs fell 46% while revenue fell 35%. Net earnings were $1.7M, down 22% year over year. The effective tax rate was 0.1%. Non-operating items added $4.3M, 257% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$5.8M. Non-cash charges added back $1.7M of depreciation and amortization and $318K of share-based compensation. Working capital and other items used $9.5M. Capital expenditures of $200K exceeded it, leaving free cash flow of −$6.0M.
Questions
What was DarkHorse Technologies' revenue in the second quarter 2025?
DarkHorse Technologies (DRK) reported revenue of $3.0M for the second quarter 2025 (Q2 2025), -35% from a year earlier and +7% from the quarter before.
Was DarkHorse Technologies profitable in the second quarter 2025?
Operating loss was $2.6M (-87.0% of revenue) and net earnings $1.7M.