Filing Flows › Happen (HAPN) › Q3 2025
Happen (HAPN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Happen (HAPN) reported revenue of $266M for the third quarter 2025 (Q3 2025), +32% from a year earlier and +7% from the quarter before. Operating margin was 21.5%, net earnings $44.3M (16.6% of revenue).
Happen, Q3 2025: revenue $266M (+32% year over year), operating margin 21.5%, net earnings $44.3M, operating cash flow −$771M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $266M | +7% | +32% |
| Operating profit | $57.2M | +6% | +218% |
| Net earnings | $44.3M | +16% | +206% |
| Operating cash flow | −$771M | — | — |
What changed
Revenue was $266.2M in Q3 2025, up 32% year over year and up 7% from the previous quarter.
Operating profit was $57.2M, a 21.5% margin (up 12.6 points year over year). Of the extra revenue versus a year earlier, 61% reached operating profit, above the 9% margin then. Total costs grew 14% against revenue growth of 32%. Net earnings were $44.3M, up 206% year over year. The effective tax rate was 22.6%.
Operating cash flow was −$770.8M. Non-cash charges added back $16.9M of depreciation and amortization and $8.5M of share-based compensation. Working capital and other items used $840.5M. Capital expenditures of $21.0M exceeded it, leaving free cash flow of −$791.8M.
Questions
What was Happen's revenue in the third quarter 2025?
Happen (HAPN) reported revenue of $266M for the third quarter 2025 (Q3 2025), +32% from a year earlier and +7% from the quarter before.
Was Happen profitable in the third quarter 2025?
Operating profit was $57.2M (21.5% of revenue) and net earnings $44.3M.
Source: Happen 10-Q on SEC EDGAR.