Filing Flows › Lifeway Foods (LWAY) › Q4 2025
Lifeway Foods (LWAY) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 17, 2026
Lifeway Foods (LWAY) reported revenue of $55.4M for the fourth quarter 2025 (Q4 2025), +18% from a year earlier and -3% from the quarter before. Operating margin was 6.8%, net earnings $2.5M (4.6% of revenue).
Lifeway Foods, Q4 2025: revenue $55.4M (+18% year over year), operating margin 6.8%, net earnings $2.5M, operating cash flow $267K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $55.4M | -3% | +18% |
| Gross profit | $15.4M | -6% | +29% |
| Operating profit | $3.8M | -25% | +428% |
| Net earnings | $2.5M | -28% | — |
| Operating cash flow | $267K | -96% | — |
What changed
Revenue was $55.4M in Q4 2025, up 18% year over year and down 3% from the previous quarter. Drinkable Kefirotherthan Pro Bugs was the largest line at 86% of revenue.
Gross margin was 27.8%, up 2.4 points from Q4 2024. Operating profit was $3.8M, a 6.8% margin (up 5.3 points year over year). Of the extra revenue versus Q4 2024, 36% reached operating profit, above the 2% margin then. Operating expenses grew 4% against revenue growth of 18%. The fastest-growing cost line was Sales & marketing (+56%). Net earnings were $2.5M. The effective tax rate was 31.6%.
Operating cash flow was $267K, 11% of net earnings. Non-cash charges added back $1.0M of depreciation and amortization and $481K of share-based compensation. Working capital and other items used $3.8M. Capital expenditures of $17.7M exceeded it, leaving free cash flow of −$17.4M.
Questions
What was Lifeway Foods' revenue in the fourth quarter 2025?
Lifeway Foods (LWAY) reported revenue of $55.4M for the fourth quarter 2025 (Q4 2025), +18% from a year earlier and -3% from the quarter before.
Was Lifeway Foods profitable in the fourth quarter 2025?
Operating profit was $3.8M (6.8% of revenue) and net earnings $2.5M.
Source: Lifeway Foods 10-K on SEC EDGAR.