Filing Flows › IP Strategy Holdings (IPST) › Q2 2025
IP Strategy Holdings (IPST) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 14, 2025
IP Strategy Holdings (IPST) reported revenue of $1.3M for the second quarter 2025 (Q2 2025), -28% from a year earlier and +21% from the quarter before. Operating margin was -503.0%, net loss $7.3M (551.9% of revenue).
IP Strategy Holdings, Q2 2025: revenue $1.3M (-28% year over year), operating margin -503.0%, net loss $7.3M, operating cash flow −$1.5M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3M | +21% | -28% |
| Operating profit | −$6.6M | — | — |
| Net earnings | −$7.3M | — | — |
| Operating cash flow | −$1.5M | — | — |
What changed
Revenue was $1.3M in Q2 2025, down 28% year over year and up 21% from the previous quarter. Direct to Consumer was the largest line at 46% of revenue. Direct to Consumer lost $336K year over year (down 36%), 65% of the total change.
Gross margin was 17.2%, down 23.4 points from a year earlier. Operating costs exceeded revenue by $6.6M, an operating margin of -503.0%. Operating expenses grew 126% against a revenue fall of 28%. The fastest-growing cost line was General & admin (+181%). The quarter ended with a net loss of $7.3M, wider than the previous quarter's $3.0M loss.
Operating cash flow was −$1.5M. Non-cash charges added back $274K of depreciation and $3.1M of share-based compensation. Working capital and other items added $2.4M. Capital expenditures of $11K exceeded it, leaving free cash flow of −$1.5M.
Questions
What was IP Strategy Holdings' revenue in the second quarter 2025?
IP Strategy Holdings (IPST) reported revenue of $1.3M for the second quarter 2025 (Q2 2025), -28% from a year earlier and +21% from the quarter before.
Was IP Strategy Holdings profitable in the second quarter 2025?
Operating loss was $6.6M (-503.0% of revenue) and net loss $7.3M.