Filing Flows › Greenlight Capital RE (GLRE) › Q3 2025
Greenlight Capital RE (GLRE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 3, 2025
Greenlight Capital RE (GLRE) reported revenue of $146M for the third quarter 2025 (Q3 2025), -22% from a year earlier and -9% from the quarter before. Operating margin was -2.7%, net loss $4.4M (3.0% of revenue).
Greenlight Capital RE, Q3 2025: revenue $146M (-22% year over year), operating margin -2.7%, net loss $4.4M, operating cash flow $31.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $146M | -9% | -22% |
| Operating profit | −$3.9M | -675% | — |
| Net earnings | −$4.4M | -1439% | — |
| Operating cash flow | $31.2M | -54% | -25% |
What changed
Revenue was $146.1M in Q3 2025, down 22% year over year and down 9% from the previous quarter.
Operating costs exceeded revenue by $3.9M, an operating margin of -2.7%. Total costs fell 1% while revenue fell 22%. The quarter ended with a net loss of $4.4M, after a profit of $329K the previous quarter.
Operating cash flow was $31.2M (down 25% year over year). Non-cash charges added back $2.0M of share-based compensation. Working capital and other items added $33.6M.
Questions
What was Greenlight Capital RE's revenue in the third quarter 2025?
Greenlight Capital RE (GLRE) reported revenue of $146M for the third quarter 2025 (Q3 2025), -22% from a year earlier and -9% from the quarter before.
Was Greenlight Capital RE profitable in the third quarter 2025?
Operating loss was $3.9M (-2.7% of revenue) and net loss $4.4M.