Filing Flows › Mattel (MAT) › Q2 2025
Mattel (MAT) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 29, 2025
Mattel (MAT) reported revenue of $1.0B for the second quarter 2025 (Q2 2025), -6% from a year earlier and +23% from the quarter before. Operating margin was 7.7%, net earnings $53.4M (5.2% of revenue).
Mattel, Q2 2025: revenue $1.0B (-6% year over year), operating margin 7.7%, net earnings $53.4M, operating cash flow −$300M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | +23% | -6% |
| Gross profit | $519M | +27% | -2% |
| Operating profit | $78.5M | — | -6% |
| Net earnings | $53.4M | — | -6% |
| Operating cash flow | −$300M | -1309% | — |
What changed
Revenue was $1.0B in Q2 2025, down 6% year over year and up 23% from the previous quarter.
Gross margin was 50.9%, up 1.8 points from a year earlier. Operating profit was $0.08B, a 7.7% margin (unchanged year over year). Operating expenses fell 2% while revenue fell 6%. Net earnings were $0.05B, down 6% year over year. The effective tax rate was 23.3%.
Operating cash flow was −$0.30B. Non-cash charges added back $0.04B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.41B. Capital expenditures of $0.02B exceeded it, leaving free cash flow of −$0.32B.
Questions
What was Mattel's revenue in the second quarter 2025?
Mattel (MAT) reported revenue of $1.0B for the second quarter 2025 (Q2 2025), -6% from a year earlier and +23% from the quarter before.
Was Mattel profitable in the second quarter 2025?
Operating profit was $78.5M (7.7% of revenue) and net earnings $53.4M.
Source: Mattel 10-Q on SEC EDGAR.