Filing Flows › DarkHorse Technologies (DRK) › Q3 2025
DarkHorse Technologies (DRK) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
DarkHorse Technologies (DRK) reported revenue of $2.6M for the third quarter 2025 (Q3 2025), +11% from a year earlier and -13% from the quarter before. Operating margin was -153.8%, net loss $4.2M (162.0% of revenue).
DarkHorse Technologies, Q3 2025: revenue $2.6M (+11% year over year), operating margin -153.8%, net loss $4.2M, operating cash flow −$3.5M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.6M | -13% | +11% |
| Operating profit | −$4.0M | — | — |
| Net earnings | −$4.2M | -355% | — |
| Operating cash flow | −$3.5M | — | — |
What changed
Revenue was $2.6M in Q3 2025, up 11% year over year and down 13% from the previous quarter.
Operating costs exceeded revenue by $4.0M, an operating margin of -153.8%. Total costs fell 11% while revenue rose 11%. The fastest-growing cost line was Other operating costs (+67%). The quarter ended with a net loss of $4.2M, after a profit of $1.7M the previous quarter.
Operating cash flow was −$3.5M. Non-cash charges added back $1.7M of depreciation and amortization and $212K of share-based compensation. Working capital and other items used $1.2M. Capital expenditures of $2.3M exceeded it, leaving free cash flow of −$5.7M.
Questions
What was DarkHorse Technologies' revenue in the third quarter 2025?
DarkHorse Technologies (DRK) reported revenue of $2.6M for the third quarter 2025 (Q3 2025), +11% from a year earlier and -13% from the quarter before.
Was DarkHorse Technologies profitable in the third quarter 2025?
Operating loss was $4.0M (-153.8% of revenue) and net loss $4.2M.