Filing Flows › JBG Smith Properties (JBGS) › Q2 2025
JBG Smith Properties (JBGS) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 29, 2025
JBG Smith Properties (JBGS) reported revenue of $126M for the second quarter 2025 (Q2 2025), -7% from a year earlier and +5% from the quarter before. Operating margin was -1.4%, net loss $23.2M (18.3% of revenue).
JBG Smith Properties, Q2 2025: revenue $126M (-6% year over year), operating margin -1.4%, net loss $23.2M, operating cash flow $18.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $126M | +5% | -7% |
| Operating profit | −$1.7M | — | — |
| Net earnings | −$23.2M | — | — |
| Operating cash flow | $18.8M | +45% | -21% |
What changed
Revenue was $126.5M in Q2 2025, down 7% year over year and up 5% from the previous quarter.
Operating costs exceeded revenue by $1.7M, an operating margin of -1.4%. Total costs fell 7% while revenue fell 7%. The quarter ended with a net loss of $23.2M, narrower than the previous quarter's $53.7M loss. Minority interests bore $3.9M of it: to shareholders the quarter was a loss of $19.2M. Net interest and other expense of $21.5M was the main reason.
Operating cash flow was $18.8M (down 21% year over year). Non-cash charges added back $49.4M of depreciation and amortization and $7.7M of share-based compensation. Working capital and other items used $15.1M.
Questions
What was JBG Smith Properties' revenue in the second quarter 2025?
JBG Smith Properties (JBGS) reported revenue of $126M for the second quarter 2025 (Q2 2025), -7% from a year earlier and +5% from the quarter before.
Was JBG Smith Properties profitable in the second quarter 2025?
Operating loss was $1.7M (-1.4% of revenue) and net loss $23.2M.