Filing Flows › Fortrea Holdings (FTRE) › Q4 2025
Fortrea Holdings (FTRE) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Fortrea Holdings (FTRE) reported revenue of $660M for the fourth quarter 2025 (Q4 2025), -5% from a year earlier and -6% from the quarter before. Operating margin was -2.1%, net loss $32.5M (4.9% of revenue).
Fortrea Holdings, Q4 2025: revenue $660M (-5% year over year), operating margin -2.1%, net loss $32.5M, operating cash flow $129M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $660M | -6% | -5% |
| Operating profit | −$13.6M | — | — |
| Net earnings | −$32.5M | — | — |
| Operating cash flow | $129M | +49% | +655% |
| Free cash flow | $122M | +53% | +499% |
What changed
Revenue was $660.5M in Q4 2025, down 5% year over year and down 6% from the previous quarter.
Operating costs exceeded revenue by $13.6M, an operating margin of -2.1%. Total costs fell 10% while revenue fell 5%. The quarter ended with a net loss of $32.5M, wider than the previous quarter's $15.9M loss. Net interest and other expense of $22.0M was the main reason.
Operating cash flow was $129.1M (up 655% year over year). Non-cash charges added back $19.3M of depreciation and amortization and $14.8M of share-based compensation. Working capital and other items added $127.5M. Capital expenditures of $7.5M left free cash flow of $121.6M.
Questions
What was Fortrea Holdings' revenue in the fourth quarter 2025?
Fortrea Holdings (FTRE) reported revenue of $660M for the fourth quarter 2025 (Q4 2025), -5% from a year earlier and -6% from the quarter before.
Was Fortrea Holdings profitable in the fourth quarter 2025?
Operating loss was $13.6M (-2.1% of revenue) and net loss $32.5M.
Source: Fortrea Holdings 10-K on SEC EDGAR.