Filing Flows › Greenland Technologies Holding (GTEC) › Q1 2025
Greenland Technologies Holding (GTEC) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 15, 2025
Greenland Technologies Holding (GTEC) reported revenue of $21.7M for the first quarter 2025 (Q1 2025), -5% from a year earlier and +12% from the quarter before. Operating margin was 22.2%, net earnings $4.0M (18.5% of revenue).
Greenland Technologies Holding, Q1 2025: revenue $21.7M (-5% year over year), operating margin 22.2%, net earnings $4.0M, operating cash flow $1.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $21.7M | +12% | -5% |
| Gross profit | $6.7M | +29% | +18% |
| Operating profit | $4.8M | +28% | +150% |
| Net earnings | $4.0M | -47% | +60% |
| Operating cash flow | $1.2M | -71% | — |
| Free cash flow | $1.2M | -68% | — |
What changed
Revenue was $21.7M in Q1 2025, down 5% year over year and up 12% from the previous quarter. Transmission Boxes for Forklift was the largest line at 97% of revenue. Transmission Boxes for Forklift lost $845K year over year (down 4%), 81% of the total change.
Gross margin was 30.7%, up 5.9 points from a year earlier. Operating profit was $4.8M, a 22.2% margin (up 13.7 points year over year). Operating expenses fell 50% while revenue fell 5%. Net earnings were $4.0M, up 60% year over year. The effective tax rate was 16.1%.
Operating cash flow was $1.2M, 27% of net income including minority interests. Non-cash charges added back $517K of depreciation and amortization. Working capital and other items used $3.8M. Capital expenditures of $14K left free cash flow of $1.2M.
Questions
What was Greenland Technologies Holding's revenue in the first quarter 2025?
Greenland Technologies Holding (GTEC) reported revenue of $21.7M for the first quarter 2025 (Q1 2025), -5% from a year earlier and +12% from the quarter before.
Was Greenland Technologies Holding profitable in the first quarter 2025?
Operating profit was $4.8M (22.2% of revenue) and net earnings $4.0M.