Filing Flows › HNI (HNI) › Q4 2025
HNI (HNI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 3, 2026
HNI (HNI) reported revenue of $888M for the fourth quarter 2025 (Q4 2025), +38% from a year earlier and +30% from the quarter before. Operating margin was -3.5%, net loss $49.2M (5.5% of revenue).
HNI, Q4 2025: revenue $888M (+38% year over year), operating margin -3.5%, net loss $49.2M, operating cash flow $77.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $888M | +30% | +38% |
| Operating profit | −$31.2M | -148% | — |
| Net earnings | −$49.2M | -219% | — |
| Operating cash flow | $77.4M | -50% | +51% |
| Free cash flow | $60.4M | -55% | +46% |
What changed
Revenue was $888.4M in Q4 2025, up 38% year over year and up 30% from the previous quarter.
Gross margin was 40.9%, up 0.4 points from a year earlier. Operating costs exceeded revenue by $31.2M, an operating margin of -3.5%. Operating expenses grew 92% against revenue growth of 38%. The fastest-growing cost line was Other operating costs (+3862%). The quarter ended with a net loss of $49.2M, after a profit of $41.2M the previous quarter.
Operating cash flow was $77.4M (up 51% year over year). Non-cash charges added back $31.7M of depreciation and amortization and $11.4M of share-based compensation. Working capital and other items added $83.5M. Capital expenditures of $17.0M left free cash flow of $60.4M.
Questions
What was HNI's revenue in the fourth quarter 2025?
HNI (HNI) reported revenue of $888M for the fourth quarter 2025 (Q4 2025), +38% from a year earlier and +30% from the quarter before.
Was HNI profitable in the fourth quarter 2025?
Operating loss was $31.2M (-3.5% of revenue) and net loss $49.2M.
Source: HNI 10-K on SEC EDGAR.