Filing Flows › Mattel (MAT) › Q1 2025
Mattel (MAT) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
Mattel (MAT) reported revenue of $827M for the first quarter 2025 (Q1 2025), +2% from a year earlier and -50% from the quarter before. Operating margin was -6.4%, net loss $40.3M (4.9% of revenue).
Mattel, Q1 2025: revenue $827M (+2% year over year), operating margin -6.4%, net loss $40.3M, operating cash flow $24.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $827M | -50% | +2% |
| Operating profit | −$53.0M | — | — |
| Net earnings | −$40.3M | — | — |
| Operating cash flow | $24.8M | -97% | -30% |
| Free cash flow | $4.0M | -100% | -81% |
What changed
Revenue was $826.6M in Q1 2025, up 2% year over year and down 50% from the previous quarter.
Gross margin was 49.4%, up 1.3 points from a year earlier. Operating costs exceeded revenue by $53.0M, an operating margin of -6.4%. Operating expenses grew 9% against revenue growth of 2%. The fastest-growing cost line was Other operating costs (+13%). The quarter ended with a net loss of $40.3M, after a profit of $140.9M the previous quarter.
Operating cash flow was $24.8M (down 30% year over year). Non-cash charges added back $41.8M of depreciation and amortization and $19.9M of share-based compensation. Working capital and other items added $3.4M. Capital expenditures of $20.8M left free cash flow of $4.0M.
Questions
What was Mattel's revenue in the first quarter 2025?
Mattel (MAT) reported revenue of $827M for the first quarter 2025 (Q1 2025), +2% from a year earlier and -50% from the quarter before.
Was Mattel profitable in the first quarter 2025?
Operating loss was $53.0M (-6.4% of revenue) and net loss $40.3M.
Source: Mattel 10-Q on SEC EDGAR.