Filing Flows › Exponent (EXPO) › Q3 2025
Exponent (EXPO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Exponent (EXPO) reported revenue of $147M for the third quarter 2025 (Q3 2025), +8% from a year earlier and +4% from the quarter before. Operating margin was 19.7%, net earnings $28.0M (19.1% of revenue).
Exponent, Q3 2025: revenue $147M (+8% year over year), operating margin 19.7%, net earnings $28.0M, operating cash flow $32.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $147M | +4% | +8% |
| Operating profit | $29.0M | +69% | +12% |
| Net earnings | $28.0M | +6% | +8% |
| Operating cash flow | $32.7M | -10% | +10% |
| Free cash flow | $30.0M | -12% | +7% |
What changed
Revenue was $147.1M in Q3 2025, up 8% year over year and up 4% from the previous quarter.
Operating profit was $29.0M, a 19.7% margin (up 0.8 points year over year). Of the extra revenue versus a year earlier, 29% reached operating profit, above the 19% margin then. Total costs grew 7% against revenue growth of 8%. The fastest-growing cost line was General & admin (+44%). Net earnings were $28.0M, up 8% year over year. The effective tax rate was 27.4%. Non-operating items added $9.6M, 25% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $32.7M (up 10% year over year), 116% of net earnings. Non-cash charges added back $2.5M of depreciation and amortization and $5.3M of share-based compensation. Working capital and other items used $3.3M. Capital expenditures of $2.7M left free cash flow of $30.0M.
Questions
What was Exponent's revenue in the third quarter 2025?
Exponent (EXPO) reported revenue of $147M for the third quarter 2025 (Q3 2025), +8% from a year earlier and +4% from the quarter before.
Was Exponent profitable in the third quarter 2025?
Operating profit was $29.0M (19.7% of revenue) and net earnings $28.0M.
Source: Exponent 10-Q on SEC EDGAR.