Filing Flows › Distribution Solutions Group (DSGR) › Q4 2025
Distribution Solutions Group (DSGR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 5, 2026
Distribution Solutions Group (DSGR) reported revenue of $482M for the fourth quarter 2025 (Q4 2025), +0.2% from a year earlier and -7% from the quarter before. Operating margin was 1.6%, net loss $6.4M (1.3% of revenue).
Distribution Solutions Group, Q4 2025: revenue $482M (+0.2% year over year), operating margin 1.6%, net loss $6.4M, operating cash flow $16.9M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $482M | -7% | +0.2% |
| Operating profit | $7.7M | -67% | — |
| Net earnings | −$6.4M | -199% | — |
| Operating cash flow | $16.9M | -56% | -63% |
| Free cash flow | $11.7M | -64% | -71% |
What changed
Revenue was $481.6M in Q4 2025, roughly flat year over year and down 7% from the previous quarter. TestEquity was the largest line at 40% of revenue.
Gross margin was 32.7%, down 0.6 points from a year earlier. Operating profit was $7.7M, a 1.6% margin (down 2.6 points year over year). Operating profit fell $12.3M even though revenue rose $1.1M versus a year earlier, so costs grew faster than sales. Operating expenses grew 7% against flat revenue. The quarter ended with a net loss of $6.4M, after a profit of $6.5M the previous quarter. Net interest and other expense of $14.1M was the main reason.
Operating cash flow was $16.9M (down 63% year over year). Non-cash charges added back $20.5M of depreciation and amortization and $2.1M of share-based compensation. Capital expenditures of $5.2M left free cash flow of $11.7M.
Questions
What was Distribution Solutions Group's revenue in the fourth quarter 2025?
Distribution Solutions Group (DSGR) reported revenue of $482M for the fourth quarter 2025 (Q4 2025), +0.2% from a year earlier and -7% from the quarter before.
Was Distribution Solutions Group profitable in the fourth quarter 2025?
Operating profit was $7.7M (1.6% of revenue) and net loss $6.4M.