Filing Flows › FTAI Infrastructure (FIP) › Q4 2025
FTAI Infrastructure (FIP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 16, 2026
FTAI Infrastructure (FIP) reported revenue of $144M for the fourth quarter 2025 (Q4 2025), +78% from a year earlier and +2% from the quarter before. Operating margin was 0.9%, net loss $97.7M (68.1% of revenue).
FTAI Infrastructure, Q4 2025: revenue $144M (+78% year over year), operating margin 0.9%, net loss $97.7M, operating cash flow −$2.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $144M | +2% | +78% |
| Operating profit | $1.3M | -94% | — |
| Net earnings | −$97.7M | — | — |
| Operating cash flow | −$2.8M | — | — |
What changed
Revenue was $143.5M in Q4 2025, up 78% year over year and up 2% from the previous quarter.
Operating profit was $1.3M, a 0.9% margin (up 97.3 points year over year). Total costs fell 10% while revenue rose 78%. The quarter ended with a net loss of $97.7M, narrower than the previous quarter's $104.5M loss. Net interest and other expense of $66.8M was the main reason.
Operating cash flow was −$2.8M. Non-cash charges added back $38.7M of depreciation and amortization and $7.4M of share-based compensation. Working capital and other items added $48.9M. Capital expenditures of $65.9M exceeded it, leaving free cash flow of −$68.6M.
Questions
What was FTAI Infrastructure's revenue in the fourth quarter 2025?
FTAI Infrastructure (FIP) reported revenue of $144M for the fourth quarter 2025 (Q4 2025), +78% from a year earlier and +2% from the quarter before.
Was FTAI Infrastructure profitable in the fourth quarter 2025?
Operating profit was $1.3M (0.9% of revenue) and net loss $97.7M.