Filing Flows › National Vision Holdings (EYE) › Q2 2025
National Vision Holdings (EYE) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
National Vision Holdings (EYE) reported revenue of $486M for the second quarter 2025 (Q2 2025), +8% from a year earlier and -5% from the quarter before. Operating margin was 3.4%, net earnings $8.7M (1.8% of revenue).
National Vision Holdings, Q2 2025: revenue $486M (+8% year over year), operating margin 3.4%, net earnings $8.7M, operating cash flow $54.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $486M | -5% | +8% |
| Operating profit | $16.4M | -37% | 28× |
| Net earnings | $8.7M | -38% | — |
| Operating cash flow | $54.3M | +68% | +5% |
| Free cash flow | $42.4M | +253% | +33% |
What changed
Revenue was $486.4M in Q2 2025, up 8% year over year and down 5% from the previous quarter. Products was the largest line at 81% of revenue. Products added $32.6M year over year (up 9%), 94% of the total change.
Operating profit was $16.4M, a 3.4% margin (up 3.3 points year over year). Of the extra revenue versus a year earlier, 46% reached operating profit, above the 0% margin then. Total costs grew 4% against revenue growth of 8%. Net earnings were $8.7M. The effective tax rate was 28.7%.
Operating cash flow was $54.3M (up 5% year over year), 622% of net earnings. Non-cash charges added back $22.5M of depreciation and amortization and $5.3M of share-based compensation. Working capital and other items added $17.7M. Capital expenditures of $11.8M left free cash flow of $42.4M.
Questions
What was National Vision Holdings' revenue in the second quarter 2025?
National Vision Holdings (EYE) reported revenue of $486M for the second quarter 2025 (Q2 2025), +8% from a year earlier and -5% from the quarter before.
Was National Vision Holdings profitable in the second quarter 2025?
Operating profit was $16.4M (3.4% of revenue) and net earnings $8.7M.