Filing Flows › Greenlight Capital RE (GLRE) › Q4 2025
Greenlight Capital RE (GLRE) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 9, 2026
Greenlight Capital RE (GLRE) reported revenue of $210M for the fourth quarter 2025 (Q4 2025), +48% from a year earlier and +44% from the quarter before. Operating margin was 24.1%, net earnings $49.3M (23.4% of revenue).
Greenlight Capital RE, Q4 2025: revenue $210M (+48% year over year), operating margin 24.1%, net earnings $49.3M, operating cash flow $100M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $210M | +44% | +48% |
| Operating profit | $50.6M | — | — |
| Net earnings | $49.3M | — | — |
| Operating cash flow | $100M | +221% | +239% |
What changed
Revenue was $210.3M in Q4 2025, up 48% year over year and up 44% from the previous quarter.
Operating profit was $50.6M, a 24.1% margin (up 44.0 points year over year). Total costs fell 6% while revenue rose 48%. Net earnings were $49.3M. The effective tax rate was 2.6%.
Operating cash flow was $100.2M (up 239% year over year), 203% of net earnings. Non-cash charges added back $2.6M of share-based compensation. Working capital and other items added $48.3M.
Questions
What was Greenlight Capital RE's revenue in the fourth quarter 2025?
Greenlight Capital RE (GLRE) reported revenue of $210M for the fourth quarter 2025 (Q4 2025), +48% from a year earlier and +44% from the quarter before.
Was Greenlight Capital RE profitable in the fourth quarter 2025?
Operating profit was $50.6M (24.1% of revenue) and net earnings $49.3M.