Filing Flows › Greenlight Capital RE (GLRE) › Q1 2025
Greenlight Capital RE (GLRE) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Greenlight Capital RE (GLRE) reported revenue of $213M for the first quarter 2025 (Q1 2025), +11% from a year earlier and +50% from the quarter before. Operating margin was 14.5%, net earnings $29.6M (13.9% of revenue).
Greenlight Capital RE, Q1 2025: revenue $213M (+12% year over year), operating margin 14.5%, net earnings $29.6M, operating cash flow $10.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $213M | +50% | +11% |
| Operating profit | $30.9M | — | +12% |
| Net earnings | $29.6M | — | +10% |
| Operating cash flow | $10.4M | -65% | -42% |
What changed
Revenue was $213.3M in Q1 2025, up 11% year over year and up 50% from the previous quarter.
Operating profit was $30.9M, a 14.5% margin (up 0.1 points year over year). Of the extra revenue versus a year earlier, 15% reached operating profit, above the 14% margin then. Total costs grew 11% against revenue growth of 11%. Net earnings were $29.6M, up 10% year over year. The effective tax rate was 4.1%.
Operating cash flow was $10.4M (down 42% year over year), 35% of net earnings. Non-cash charges added back $1.3M of share-based compensation. Working capital and other items used $20.5M.
Questions
What was Greenlight Capital RE's revenue in the first quarter 2025?
Greenlight Capital RE (GLRE) reported revenue of $213M for the first quarter 2025 (Q1 2025), +11% from a year earlier and +50% from the quarter before.
Was Greenlight Capital RE profitable in the first quarter 2025?
Operating profit was $30.9M (14.5% of revenue) and net earnings $29.6M.