Filing Flows › National Vision Holdings (EYE) › Q3 2025
National Vision Holdings (EYE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
National Vision Holdings (EYE) reported revenue of $487M for the third quarter 2025 (Q3 2025), +8% from a year earlier and +0.2% from the quarter before. Operating margin was 2.0%, net earnings $3.4M (0.7% of revenue).
National Vision Holdings, Q3 2025: revenue $487M (+8% year over year), operating margin 2.0%, net earnings $3.4M, operating cash flow $46.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $487M | +0.2% | +8% |
| Operating profit | $9.6M | -42% | — |
| Net earnings | $3.4M | -61% | — |
| Operating cash flow | $46.6M | -14% | +67% |
| Free cash flow | $30.3M | -29% | +647% |
What changed
Revenue was $487.3M in Q3 2025, up 8% year over year and roughly flat from the previous quarter. Products was the largest line at 81% of revenue. Products added $30.3M year over year (up 8%), 85% of the total change.
Operating profit was $9.6M, a 2.0% margin (up 3.9 points year over year). Total costs grew 4% against revenue growth of 8%. Net earnings were $3.4M. The effective tax rate was 38.6%.
Operating cash flow was $46.6M (up 67% year over year), 1383% of net earnings. Non-cash charges added back $22.2M of depreciation and amortization and $5.5M of share-based compensation. Working capital and other items added $15.6M. Capital expenditures of $16.4M left free cash flow of $30.3M.
Questions
What was National Vision Holdings' revenue in the third quarter 2025?
National Vision Holdings (EYE) reported revenue of $487M for the third quarter 2025 (Q3 2025), +8% from a year earlier and +0.2% from the quarter before.
Was National Vision Holdings profitable in the third quarter 2025?
Operating profit was $9.6M (2.0% of revenue) and net earnings $3.4M.