Filing Flows › Exponent (EXPO) › Q4 2025
Exponent (EXPO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Exponent (EXPO) reported revenue of $147M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +0.2% from the quarter before. Operating margin was 19.8%, net earnings $24.8M (16.8% of revenue).
Exponent, Q4 2025: revenue $147M (+8% year over year), operating margin 19.8%, net earnings $24.8M, operating cash flow $55.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $147M | +0.2% | +8% |
| Operating profit | $29.1M | +0.4% | +7% |
| Net earnings | $24.8M | -12% | +5% |
| Operating cash flow | $55.6M | +70% | -0.8% |
| Free cash flow | $52.9M | +76% | -1% |
What changed
Revenue was $147.4M in Q4 2025, up 8% year over year and roughly flat from the previous quarter.
Operating profit was $29.1M, a 19.8% margin (down 0.2 points year over year). Of the extra revenue versus a year earlier, 18% reached operating profit, below the 20% margin then. Total costs grew 8% against revenue growth of 8%. The fastest-growing cost line was General & admin (+17%). Net earnings were $24.8M, up 5% year over year. The effective tax rate was 27.4%.
Operating cash flow was $55.6M (down 1% year over year), 224% of net earnings. Non-cash charges added back $2.5M of depreciation and amortization and $5.0M of share-based compensation. Working capital and other items added $23.3M. Capital expenditures of $2.7M left free cash flow of $52.9M.
Questions
What was Exponent's revenue in the fourth quarter 2025?
Exponent (EXPO) reported revenue of $147M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +0.2% from the quarter before.
Was Exponent profitable in the fourth quarter 2025?
Operating profit was $29.1M (19.8% of revenue) and net earnings $24.8M.
Source: Exponent 10-K on SEC EDGAR.