Filing Flows › Leslie's (LESL) › Q4 FY25
Leslie's (LESL) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Dec 18, 2025
Leslie's (LESL) reported revenue of $389M for the fourth quarter fiscal 2025 (Q4 FY25), -2% from a year earlier and -22% from the quarter before. Operating margin was -38.6%, net loss $163M (41.8% of revenue).
Leslie's, Q4 FY25: revenue $389M (-2% year over year), operating margin -38.6%, net loss $163M, operating cash flow $48.2M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $389M | -22% | -2% |
| Operating profit | −$150M | -320% | -668% |
| Net earnings | −$163M | -849% | — |
| Operating cash flow | $48.2M | -58% | +2% |
| Free cash flow | $41.8M | -61% | +22% |
What changed
Revenue was $389.2M in Q4 FY25, down 2% year over year and down 22% from the previous quarter.
Gross margin was 38.6%, up 2.6 points from Q4 FY24. Operating costs exceeded revenue by $150.1M, an operating margin of -38.6%. Operating expenses grew 157% against a revenue fall of 2%. The quarter ended with a net loss of $162.8M, after a profit of $21.7M the previous quarter.
Operating cash flow was $48.2M (up 2% year over year). Non-cash charges added back $8.4M of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items added $201.6M. Capital expenditures of $6.4M left free cash flow of $41.8M.
Questions
What was Leslie's revenue in the fourth quarter fiscal 2025?
Leslie's (LESL) reported revenue of $389M for the fourth quarter fiscal 2025 (Q4 FY25), -2% from a year earlier and -22% from the quarter before.
Was Leslie's profitable in the fourth quarter fiscal 2025?
Operating loss was $150M (-38.6% of revenue) and net loss $163M.
Source: Leslie's 10-K on SEC EDGAR.