Filing Flows › Kodiak Gas Services (KGS) › Q2 2025
Kodiak Gas Services (KGS) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Kodiak Gas Services (KGS) reported revenue of $323M for the second quarter 2025 (Q2 2025), +4% from a year earlier and -2% from the quarter before. Operating margin was 30.9%, net earnings $39.5M (12.2% of revenue).
Kodiak Gas Services, Q2 2025: revenue $323M (+4% year over year), operating margin 30.9%, net earnings $39.5M, operating cash flow $177M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $323M | -2% | +4% |
| Operating profit | $99.7M | +12% | +84% |
| Net earnings | $39.5M | +30% | +534% |
| Operating cash flow | $177M | +55% | +46% |
| Free cash flow | $94.6M | +157% | 23× |
What changed
Revenue was $322.8M in Q2 2025, up 4% year over year and down 2% from the previous quarter. Contract Services was the largest line at 91% of revenue. Contract Services added $17.3M year over year (up 6%), 131% of the total change. Service, Other declined 12%.
Operating profit was $99.7M, a 30.9% margin (up 13.4 points year over year). Of the extra revenue versus a year earlier, 345% reached operating profit, above the 17% margin then. Net earnings were $39.5M, up 534% year over year. The effective tax rate was 25.2%.
Operating cash flow was $177.2M (up 46% year over year), 443% of net earnings. Non-cash charges added back $66.1M of depreciation and amortization and $6.3M of share-based compensation. Working capital and other items added $64.8M. Capital expenditures of $82.6M left free cash flow of $94.6M.
Questions
What was Kodiak Gas Services' revenue in the second quarter 2025?
Kodiak Gas Services (KGS) reported revenue of $323M for the second quarter 2025 (Q2 2025), +4% from a year earlier and -2% from the quarter before.
Was Kodiak Gas Services profitable in the second quarter 2025?
Operating profit was $99.7M (30.9% of revenue) and net earnings $39.5M.