Filing Flows › ICF International (ICFI) › Q3 2025
ICF International (ICFI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
ICF International (ICFI) reported revenue of $465M for the third quarter 2025 (Q3 2025), -10% from a year earlier and -2% from the quarter before. Operating margin was 8.3%, net earnings $23.8M (5.1% of revenue).
ICF International, Q3 2025: revenue $465M (-10% year over year), operating margin 8.3%, net earnings $23.8M, operating cash flow $47.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $465M | -2% | -10% |
| Operating profit | $38.4M | -4% | -16% |
| Net earnings | $23.8M | +0.4% | -27% |
| Operating cash flow | $47.3M | -9% | +85% |
| Free cash flow | $41.8M | -10% | +105% |
What changed
Revenue was $465.4M in Q3 2025, down 10% year over year and down 2% from the previous quarter. US Federal Government was the largest line at 43% of revenue. US Federal Government lost $83.9M year over year (down 30%), 163% of the total change.
Operating profit was $38.4M, a 8.3% margin (down 0.6 points year over year). Total costs fell 9% while revenue fell 10%. Net earnings were $23.8M, down 27% year over year. The effective tax rate was 22.7%.
Operating cash flow was $47.3M (up 85% year over year), 199% of net earnings. Non-cash charges added back $14.2M of depreciation and amortization and $4.5M of share-based compensation. Working capital and other items added $4.9M. Capital expenditures of $5.5M left free cash flow of $41.8M.
Questions
What was ICF International's revenue in the third quarter 2025?
ICF International (ICFI) reported revenue of $465M for the third quarter 2025 (Q3 2025), -10% from a year earlier and -2% from the quarter before.
Was ICF International profitable in the third quarter 2025?
Operating profit was $38.4M (8.3% of revenue) and net earnings $23.8M.
Source: ICF International 10-Q on SEC EDGAR.