Filing Flows › Ichor Holdings (ICHR) › Q3 2025
Ichor Holdings (ICHR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 3, 2025
Ichor Holdings (ICHR) reported revenue of $239M for the third quarter 2025 (Q3 2025), +13% from a year earlier and -0.4% from the quarter before. Operating margin was -8.1%, net loss $22.9M (9.6% of revenue).
Ichor Holdings, Q3 2025: revenue $239M (+13% year over year), operating margin -8.1%, net loss $22.9M, operating cash flow $9.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $239M | -0.4% | +13% |
| Operating profit | −$19.4M | — | — |
| Net earnings | −$22.9M | — | — |
| Operating cash flow | $9.2M | — | +15% |
| Free cash flow | $2.1M | — | — |
What changed
Revenue was $239.3M in Q3 2025, up 13% year over year and roughly flat from the previous quarter.
Gross margin was 4.6%, down 8.5 points from a year earlier. Operating costs exceeded revenue by $19.4M, an operating margin of -8.1%. Operating expenses grew 8% against revenue growth of 13%. The fastest-growing cost line was SG&A (+11%). The quarter ended with a net loss of $22.9M, wider than the previous quarter's $9.4M loss.
Operating cash flow was $9.2M (up 15% year over year). Non-cash charges added back $7.4M of depreciation and amortization and $4.2M of share-based compensation. Working capital and other items added $20.5M. After capital expenditures ($7.1M), free cash flow as the company reports it was $2.1M.
Questions
What was Ichor Holdings' revenue in the third quarter 2025?
Ichor Holdings (ICHR) reported revenue of $239M for the third quarter 2025 (Q3 2025), +13% from a year earlier and -0.4% from the quarter before.
Was Ichor Holdings profitable in the third quarter 2025?
Operating loss was $19.4M (-8.1% of revenue) and net loss $22.9M.
Source: Ichor Holdings 10-Q on SEC EDGAR.